I think I just made the biggest decision of my life. I have converted nearly all my savings in fiat that I have amounted over my life time and invested all of it into Bitcoin @ around $36,850. I am in a weird place now because I know it is the right decision and I have confidence in my decision but I am shaking all over the place. I have kept some emergency fund in my personal bank and if any other unexpected costs arise I will be prepared to take out what is required again from my Bitcoin fund.
The process of buying this amount was not easy I had to call my bank because the transaction was blocked then I had to wait 20-30 minutes for the bank to answer me. After that the customer service guy tried to lecture me about how cryptocurrency is very risky to invest in. I told him I had been around number of years but he said he had to go through all of it. I then had to confirm that I wanted to send this amount knowing the risk. They wanted me to come into the local bank and confirm some details but I told them because of the snowy conditions that would not be possible. He then allowed me to go through verification and send the amount. This probably took me over 2 hours to complete because I was put on hold many times. But do you know what the biggest eye opener of this experience was? with Bitcoin I would not need to go through this waste of time confirming my details because now I am my own bank. I do not need permission to spend my money even if it is for a risky investment. I am both relieved and scared. I have a lot of faith and I think I have bought at the best possible time and before completing the purchase I was 99% sure this was the right thing to do but the nerves have kicked in and I think I am probably about 60% sure now.
I am sure it has been said several times, since you posted. Most of us will agree you have done something quite smart. But of course it could be a rocky road. Some folks think we will keep going down from here... others think it is a local bottom.
Aside from my home, which I own, I have my entire net worth in BTC. It's tricky. If you have 10 thousand dollars it will remain exactly 10k$ for ever, whole goods and services go up in price little by little. With bitcoin you will also have (currently) a little more than .25BTC, but its value in goods and services can go up and down violently as it trends up (the opposite of the USD).
So there are two differences. For it's whole life a single bitcoin will buy you more and more over time. Over the long haul. With 300% rises and 70% falls along the way, while the USD is steadily dropping in value, but more smoothly. at ~x%/yr. Though that has recently changed to a faster pace.
Anyway. The thing you have to be ready for are the thoughts of "OMG I made a mistake" when it goes down, and strangely also look out for "WOO HOO!! I AM A GENIUS" when it goes up!
Every time my wife and I look at property in Hawaii it is generally the top oif the most recent cycle.
So I have currently tried to stop doing that... to see if, indeed, it is all my fault every time!
Welcome, and best of luck to us all!
