MY FRIENDS CALL ME J SIMMS & I WISH I BOUGHT BITCOIN WHEN....
My homeboy Los and I were going to Bar 7 is Southfield, Mi to watch a playoff game for the NBA. Being the NBA playoffs end in mid June it had to be late April or early May 2012. We arrived outside the bar probably within seconds from one another. The parking lot was crazy packed because it's the NBA playoff so we had enough time to spit out some complete thoughts. Los' family is full of entrepreneurs determined to be self made so he has a been programmed to look for good opportunities.
I remember him saying something like, have you heard of this Bitcoin shit, lol. I haven't so I said, " naw, what hell is that"? He replied, "internet money". Ok, my guy. That sounds crazy. He went on telling me that he knows a couple people that hit a lick on it and at the time I didn't understand and he didn't either. I truly thought it was some money making scam. See, the person that told my guy Los about Bitcoin didn't explain to him what it is nor why it's important to our future. Key thing's that should have been mentioned to entice one's interest in a could be a life changing investment. Bitcoin was around $5.00 at this time.
We entered Bar 7 and may have mentioned Bitcoin 1 more time and pretty much completely forgot about it until November 2016. I started buying silver to prepare for the next recession.
Bitcoin wasn't on my mind the least bit. Not realizing that it was the tool or means that could change my financial future if I dug into it. Shesh... 100 bucks into Bitcoin back when I found out would of bought me 20 BITCOINS! As I write this I realize, not looking into something fucked me.
January 2009 my wife and I went to a financial services intuition that I do not want to name near my house at the time. Oh, btw, they are no longer there. I had $10 grand I wanted to put into Ford stock. I live in metro Detroit and Ford is a huge part of Detroit's history. At this point in Detroit and all over the country there were a lot of layoffs and foreclosures. Ford stock was $1.72 when it caught my attention. Damn it man, I got to get apart of this. In my head it made so much sense, but regrettably the financial advisor I saw said it was not a good idea. Remembering this now, this salesman, not financial advisor knew nothing. He wasn't even as aware of the opportunity as I was and like a fool I listened thinking he's a professional and really understands these companies. By January of 2011 Ford stock had reached $18 dollars a share. Thus would have sent my 10 thousand dollar investment to 100 thousand. Game changer.
Homes were still on sale at this point and that could have bought a modest home for me and my family in my area. Damn!
I cannot let this happen again. I'm firm on that belief and the belief that there are opportunities that are life changing every 10 years or so. Our psyche tells us to buy into assets when we see them shooting for the stars where the best potential for optimal gains is to point out the opportunity when it is suppressed.
Bitcoin rose from around 900 dollars to 20 grand in 2017. This year Bitcoin and the whole crypto industry has been totally suppressed and many small investors have been scared out of the market. The crypto marketcap lost 3/4 of it's total value and since early September it has been holding steady. 2017 was the year of speculation where there wasn't much use case. 2018 has been a year of infrastructure building. Applications being developed and partnerships being made.
To be continued...