Excerpt for The Bitcoin & Cryptocurrency Wealth-Building Opportunity Guide by , available in its entirety at Smashwords

THE BITCOIN & CRYPTOCURRENCY WEALTH-BUILDING OPPORTUNITY GUIDE

By Adam G. Koch



Copyright © 2017 Adam G. Koch

First Smashwords Edition; Published by Adam G. Koch on Smashwords.Com

Paperbacks available wherever fine books are sold.

All rights reserved.

Smashwords Edition License Notes:

This book may not be sold or redistributed in any form without written authorization from the author himself. If you did not purchase this book, and you are reading it, it is appreciated if you would go to your favorite online book or e-book retailer and purchase a legitimate copy, as this book was created at the cost of thousands of hours of labor by this hard-working author. You may quote small portions of this material as you wish, as long as proper citations are given crediting this book and the author.



DISCLAIMER: No guarantees or warranties are expressed or implied, except where explicitly stated. This is not intended to be construed as a replacement for actual investment advice: All materials contained within are for informational and educational purposes only regarding the opportunity itself which cryptocurrency comprises. By using any knowledge contained within these pages, you acknowledge the varying risks which may be involved depending on your strategy for implementing the ideas presented to you within these pages. Your use of this book signals your acknowledgement and agreement that the Author is not to be held liable for any losses or liabilities you may incur. How you conduct yourself and apply this material presented; and how the marketplace takes shape where cryptocurrencies are concerned are all beyond the Author’s control. As the Ferengi in Star Trek say, “The riskier the road, the greater the profits.” Risk cannot be eliminated completely, but this book intends to minimize it, while hopefully not minimizing the potential rewards. Cryptocurrency should never be regarded as equal to traditional securities and investments, nor should cryptocurrency be mistaken for them. No cryptocurrencies or their exchanges have any kind of deposit insurance.



DEDICATION



This book is hereby dedicated to my parents, especially my Dad who is lucky to have survived so many near death catastrophes in recent years, worst of all being 2016: Here’s to you being around many more years, in hopefully better health. There’s been a lot of good years, and a lot of bad years; but here’s to making the best of the years that are left. You are proof that anyone can make it through anything if they are determined enough. And thank you Mom, for being supportive of me in all my ventures, especially through the many failures I’ve had all through my life before finding any measures of success.



CONTENTS



PART I: OPPORTUNITY & SKEPTICISM

PART II: CRYPTO MECHANICS

PART III: GOOD COIN - BAD COIN

PART IV: THE OPPORTUNITY ITSELF

PART V: CRYPTO TRADING & EXCHANGE

PART VI: MINING & MINING RIGS

PART VII: CLOSING THOUGHTS

ABOUT THE AUTHOR

ACKNOWLEDGMENTS



I once believed Bitcoin would never be worth much. Then, I came to believe only Bitcoin could ever be worth much: Dozens of examples had proven me wrong, and I must fully acknowledge my friend known as “Bea” for helping me to see the light so that I may not continually pass up limitless opportunities in altcoins: The cryptocurrency opportunities of which are the very basis of this guide and why I’ve authored it.



I further owe a great debt of thanks to my best of friends, who are the best of muses, without whom there would have been no discussions or motivation for me to push onward towards success:



Tiffany Porter:

I couldn’t have asked for a greater friend, nor a truer one; you helped me find my old self that I thought was lost forever; and you helped me back onto my life’s path that I always was on but somehow had lost sight of; until you came out of nowhere and put me back on my proper path. I owe you a tremendous debt of thanks and gratitude for this not to mention you are the largest source of positivity and encouragement I’ve ever known.



Danielle Ahrens:

You have been a greatly inspirational muse and a great friend whose discussions have helped me see all the good that my work can accomplish.



Stephanie:

You’ve always been a massive source of positive energy for me, and great friendship; I didn’t mean to drop off your radar for so long, so often, but at least you get to see what I’ve spent my time working on!



“Kunrad”:

You’ve always been there to bounce ideas off of for nearly nine years, almost every day, too; so here’s to the “gambler of all gamblers.”



To all of my other friends: So many of you worthy of acknowledgement, but I can’t write a whole book of acknowledgements! You are not necessarily less important or less appreciated. During this project, the people so acknowledged were instrumental in motivating me to actually finish this project that I never thought I’d see the end of writing.

"There should be no war upon property or the owners of property. Property is the fruit of labor; property is desirable; is a positive good in the world. That some should be rich shows that others may become rich, hence, is just encouragement to industry and enterprise." -President Abraham Lincoln



The real tragedy of the poor is the poverty of their aspirations.” -Adam Smith, Economist



All the perplexities, confusion and distress in America arise, not from defects in their Constitution or Confederation, not from want of honor or virtue, so much as from the downright ignorance of the nature of coin, credit and circulation.” – President John Adams



PART I: OPPORTUNITY & SKEPTICISM



This first chapter is intended to be a wakeup-call. A wakeup-call for what you ask? Opportunity. Much of our misery is due to missed opportunity, and most of our success is due to catching opportunity at the right place and at the right time, with the right attitude. What is the primary cause of missed opportunity? Skepticism which tells us opportunity could never be real for us, since it is something that other people always find, right? Particularly damaging to our cause is the fact that we cannot go back in time to fix our mistake of missing it since now is the furthest back in time that you will ever be. Every second which has passed, and is passing even now as you read these words, is a second closer you are to being too late for any number of opportunities. Hindsight is 20/20, but one man’s hindsight is another man’s foresight.

This chapter is also a motivational journey through opportunity; to explore what it is and means with the purpose being to illustrate the costs of ignoring or missing them as well as to demonstrate the vast benefits of seeking them out and leveraging them into success. If you don’t see what it can actually do for you, there’s no incentive to even bother with it; which there is a lot of incentive. I would bet money that cryptocurrencies have made more millionaires than all of the MLM / Pyramid programs combined in their entire history, and with far less work and investment. It is human nature to be skeptical of new things, and to be resistant towards their assimilation into our daily lives, which is why we miss out on these things. Skepticism and doubt clouds our judgement and keeps us from seeing opportunity for what it is.

All people are equal in the eyes of opportunity; what makes real inequality is how our ambition, initiative, and mindsets as individuals are so different from one person to the next. If you give a hundred people the same gear, training, and opportunity; it is very likely you will have a hundred different degrees of successes and failures. There will be some who succeed spectacularly, and others who have failed spectacularly. Just as you cast sand into moving water and it stratifies by density and composition, the same is true about people when cast upon the waters of the everyday world.

Cryptocurrency is new to a lot of people, and it can be intimidating for the beginner as it can be difficult to grasp the concept at first. This is not surprising considering it really is a new breakthrough for the enabling of free enterprise and allowing for us to, in some regards, be our own bankers. We tend to hold a high degree of skepticism and contempt for those things we do not perceive as serious or worthy of our consideration and time. If you were to sit down with a piece of paper and write down everything you could have bought into but talked yourself out of buying that would have made you wealthy, I am sure it will be a lengthy list for the average person. When I write such a list, it actually is a disheartening and humbling thing to experience, but it causes me to focus on what I can do going forward so that I minimize the chance of missing out yet again.

Skepticism makes us not do things which we should do when it is the perfect time to do them, leaving us to do them when the boat has already sailed away leaving us to miss out on the bulk of the rewards; although there also are times when doubt insulates us from excessive and reckless risks. The greater the risks are the greater the rewards will be; safety is not rewarded, because there is no risk in taking the safe route even though the safe route can be rather risky as well.

This is why the nine-to-five mentality usually results in mediocrity, and those who rise above mediocrity and the paycheck to paycheck syndrome have generally done something on the side to take some risks and dare to do something more than what is simply necessary to survive. There are people who adamantly believe we “exist only to work a career and to pay taxes” and who also justify living in mediocrity by repeating the “money doesn’t buy happiness” bit…

No, money does not buy happiness, but I can guarantee you poverty doesn’t either. Divorces, suicides, bad health, all too often are linked to A. debt, and B. missed opportunities that were so massive the people who missed them go stark raving mad as a result and cannot handle missing the boat. Everyone has their breaking points, and it is imperative that we as human beings find success before we reach those breaking points. Yet even though opportunity crosses our paths fairly often, we are oblivious to it. Even I am guilty of not taking opportunity for what it is, and it is painful to always miss out. Why must we have to work until our backs and health fail? Why must we put so much of our lives into not getting anywhere? Well, we don’t have to. We just keep missing the signs which would point us to a better path, however you are now on the right track to stop doing that!

We don’t grow up wanting to fail; we grow up wanting to succeed, but settling for a nine-to-five and not aspiring for more is not exactly success. A rising tide raises all ships… If you miss the boat and aren’t on a ship, well, you are drowning in this thing we call life. Life isn’t fair but we can do something about that, if we are aware of the fact there is something that can be done.

When we have it in our capacity to do the things we live for doing when we want to do them, that is true success. If you don’t want to be rich, which there are those people, how much success is necessary for you to fulfill your destiny and to allow you to live the life you wanted to always have? That should be our priority while we are here on Earth, to be true to ourselves, and do everything we can while we can to build that success. That is what the American Dream really is, to be free of having to do that which we don’t want to do so that we can be happy in the things we enjoy doing. Could you face your younger self if you had the opportunity to do so and honestly say you did not let “you” down? If you feel like you have let yourself down, now is the time to start changing that.

The goal is to no longer be forced to spend our lives doing jobs we hate because those things we love doing are not able to pay the bills. That’s the difference between a job/career/business and a hobby. To be able to do everything you want should be what motivates you to rise above your lot in life and surpass this “mediocrity” which plagues society. Some say they love their jobs, and some actually do: If it weren’t for the paycheck, would you still show up for work? Why work hard all your life for very little to show for it when you can stop missing every opportunity which comes along, and finally be on top of the world yourself for once? Millionaires are created every day of the year, why not you be one of them, too?

We live in a society that does not teach people about opportunity or how to leverage it; nor how to spot it for that matter. Some are born with this gift of seeing it and it is second nature to them; however, the majority of people just don’t have this vision to see meaningful opportunity for what it is. It isn’t an insult, and it isn’t their fault as it is how society has engineered each new generation to think and look at the world. Once upon a time entire industries were built by people who had nothing but a few cents in their pocket and determination. Now, instead of the era of industry and empire builders, we’ve arrived at an era largely comprised of misery builders. Only we have the power within ourselves to succeed or fail, and we must assert our abilities to make it happen so we can break this cycle of proliferating misery.

“But the world can’t function if no one has to work,” is the argument that comes up next. It’s not that big of an argument really. You see, there are people who if they could do anything in life for the love of doing it, would want to keep doing what they already do. For example, there are a large number of truck drivers who can’t imagine living any other kind of life and the only way for them to ever give it up is when their health fails them. It is the freedom of the road, the grinding of the gears, and the whine of the diesel that gets into their blood and they don’t want to live apart from it. As for ditch diggers, it takes capital to afford opportunities, and labor is the first price by which capital is bought; with capital being that which is necessary to go into business or otherwise invest in an opportunity, so let the young people work the jobs no one wants to work, worst case it would take them a few years to build up enough resources to expand into something a bit more lucrative and be free of it letting the cycle repeat again.

There are many failures before one finds success, so people go back to work until they can try again. Look at Nikola Tesla, he was taken advantage of by Thomas Edison so he resigned and ended up being a ditch digger, and then went on to be the most prolific inventor and I’d argue the most important one in history! Sure there will be vacuums in the economy if people no longer had to do their lousy jobs only for the income, but the world will always find ways to make do.

I owe my living to my ability to seek out opportunity. Yes, I’ve missed a lot of opportunity. Half a dozen times I could have been wealthy, but other people have always found ways to interfere and obstruct my participating in these opportunities. I’ve availed myself to enough smaller opportunities to survive on and in fact, I’ve made it an objective to write books focused around the intent of sharing the whole concept of opportunity and seeking it out. This is one such book. If you were never able to find opportunity, here in these pages you will find one of the biggest there is, and how to make use of it while you can!

The only thing I am selling, is this book itself and I didn’t even ask a high price for it. What I make off of you ends there with royalties on the original purchase. In the long term, more people involved with cryptocurrencies will influence the market values to increase, but that is to all of our benefit if we are invested in them. I am not selling subscriptions, I am not pushing a service, what is within the covers of this guide is it. Your only obligation here is that if you buy the book, learn all you can from what I am presenting you. Even if you decide cryptocurrency is not for you, the seeds of seeking opportunity in all of its forms, have been sown.

There are many “opportunity guides” selling for a small fortune, but I am not that kind of author. In markets where a large quantity of new participants is undesirable, the information costs a fortune because those authors figure they will make their millions off of books and further figure that it makes up for losing a lucrative opportunity to the new people entering the market. I actually want to help people and I want to see everyone take advantage of this opportunity that is found in cryptocurrency. I am the kind of person that if I can do it, anyone can do it, because I have tried doing what other people do so successfully but I fail miserably, and I mean miserably at it all. If I find my own path, I succeed. Usually I succeed at things that are so simple, yet people assume it is more complicated than it actually is, like cryptocurrency.

For instance, the average person can go from one job to the next without any trouble. As for me, I spend years looking for work, and that doesn’t pay the bills. So, I played video poker somewhat professionally for a few years and it paid more than I was making full time; it just required long hours and discipline to not make mistakes while playing. When the Video Poker was phased out due to regulation changes at the state level, I made it my goal to write a book on the subject, which after writing and publishing “Gold Prospecting & Placer Deposits: Finding Gold Made Simpler”, I did manage to finally finish “Video Poker Profits from the Ground Up.”

I then was introduced to the world of stamps and stamp collecting, being a coin collector I scoffed at the idea stamps could be valuable. The same way many of you might scoff at cryptocurrency. There was a brilliant opportunity waiting for me, ignored by most people, but I was so biased against it until I ran into the right person that helped me see the opportunity and value in stamps. That is the basis for “Philatelic Philosophy: Stamp Collecting Wisdom and Opportunity” which I wrote and published; stamps are one of the few areas in the marketplace where you can literally build a massively valuable collection at low, zero, or even negative cost, meaning you can profit to build your portfolio of assets.

So you can see the pattern here. I have never turned a profit working a nine-to-five. I could not even get my online degree without Corinthian Colleges (Everest Online) ripping me off in a giant scam. Millions of people seem to get by on a nine-to-five. Millions of people seem to get their online degrees. Everything normal people normally do, fails miserably for me. So I must find non-conventional opportunities that require my non-conventional skills. I am not the only one who is in this situation, but the difference between myself and these other people is that I am willing to share what I know, not just what I think will sell and fatten my bank account, but what you need to know to actually put to use what I am bringing your attention to. Any trade secrets which I have, are to be entered within these pages. You will have my blueprints to be able to recreate my success in cryptocurrency by the end of this book.

In life, success means taking the path of least resistance. Some doors open, other doors are closed and only opened at great detriment to you if you insist on opening them. You have to embrace what works for you, and if you are fortunate, you will have a varied choice of many paths. The mindset to succeed is one of “If I cannot do these things, then what things can I actually achieve?” Why spend so much effort worrying about making things work which aren’t working, when you can devote that energy into things which you can actually gain ground on?

Normally I would say all opportunities are not a good fit for everyone, but I must disagree in this instance. Cryptocurrencies are already being used as money, and they are traded the same way as stocks in the stock market. Actually they are a form of stock. People are putting Bitcoin into their IRA’s even! Crypto’s are shares in an idea, or a concept, in particular this means the niches the developers of the coins are targeting. It very much has become money.

There are risks, yes; however, they can be as great or as small as you wish to make them. Cryptocurrency affords you complete control over your strategy and how to approach the building of your assets. You can take the completely free approach, or you can squirrel away a percentage of your income into investing in them. Ten percent of your income each month for the last three years would have made you a fortune if you even just put it into Bitcoin! You can even build a massive mining operation for yourself if you want to become serious about it.

It is skepticism that will keep many of you from jumping into this life-changing opportunity in all of its various forms. We are worried about risk taking. If you do not want to be stuck in the rut that you are in, I am not asking you to replace your career or anything you are doing with any opportunity. If you want to break free from your rut, consider that everything you do on the side will make it easier for you to break free when the time is right. Build your airplane before you fly!

I didn’t start playing video poker thinking I would in a million years replace my full time job with it. I was insulating houses and spending my days off at the casino playing video poker for relaxation. After taking a few days off due to fiberglass and my eyelids becoming infected from it, I decided my eyes were worth more to me than any job. The fact I was putting in ten to twelve hour days five days a week sometimes six, just to make less in two weeks at work than I made on the weekends at the casino made me consider the safety in quitting my job and pursuing the video poker.

Modern society has grown too comfortable and familiar with things that it on the average, views as secure which in reality are the opposite of what security is to the point an average nine-to-fiver is paranoid of taking any risks at all. Consider that if you aren’t willing to risk pursuing any opportunities on the side, you are still taking risks. You are risking layoffs and downturns with no contingency plan to fall back on. Self-sufficiency is true safety and security, but you cannot be truly self-sufficient unless you find way to break free of the paycheck to paycheck mentality and lifestyle.

A career really becomes a trap, since work wears you down and tires you out to the point you have no time or energy to even look at other options, and opportunities right under your nose are often impossible to notice or avail yourself to because legitimately there are other priorities; family, obligations, any number of things. I am guilty of it too, and no I am not slamming hard work and those who have great careers, but why work harder for someone else when you can work smarter for yourself? Think of what reaching financial freedom would do for you and your family.

Imagine how much better the world would be should everyone be able to do what they want to do for a job instead of what they have to do for a job because they need the paycheck! You can see the difference all over the private sector, even to some degree in the public sector. Those who love their job do what they are supposed to do with greater efficiency than someone who despises their work. Also, how many people do you know who had a great career, bought a house, started a family, only to be laid off half way into raising their kids and paying for their house and cars? Many, many people. Chances are those are the same people who at one time told other people that they needed to find themselves a “career”, too. What happens to you if your current career goes away? What would you do if you had no paycheck coming?

Consider your career as a vehicle. You can run it until it breaks down on you leaving you stranded; or you can work on a second vehicle in your spare time so that at least you can rely on it in addition to anything else you have figured out if the worst happens. For one thing, whatever wealth you can build on the side is in addition to that which you are already generating. What would this mean to you? Is it worth your spending a few minutes a day on something that can potentially make you financially independent sooner than you otherwise might or might not ever be able to achieve?

Since we have, if we are lucky, a hundred-year lease on life then why settle for mediocrity and condemn ourselves to living lives we would rather spend doing something other than what we are doing already? That is why this book is here, to turn that light at the end of the tunnel which we are content never to know is there, into a laser beam so it is able to reach you even if you don’t reach it! Everyone can be doing something extra to better their lives and reach their dreams. To believe there is only work and survival, is to have a defeatist mindset. There is opportunity everywhere, for everyone; that is everyone who will see past their bubble of imagined security.

The reason so many people work hard all their lives and die broke goes back to a failure in society and how it collectively thinks. In order to correct this failure, a shift in the paradigm of thinking and teaching is necessary. I am writing this book because I want to see all of you become successful, and this is one opportunity that by helping everyone be successful in it we help ourselves be more successful in it. The difference between the successful and unsuccessful people is that those who are successful are not wasting their time and money complaining about how unfair life is, instead they do something to make it more equitable to themselves. It generally takes time, and it often takes money to make success; but you must also find the opportunity. If you have neither time, nor money, you are still in luck because this opportunity will require as little or as much as you wish to put into it to not totally miss out on; and it is all explained in this book.

There are countless “opportunities” which you hear about regularly. Many are designed to benefit the people who thought them up, or the people who are successful at pitching the opportunity and recruiting others to participate. As a result, the word “opportunity” can often draw a bad reputation and evoke negative thoughts. When I mention opportunity, you probably immediately think of things like Amway, Prepaid Legal, etc. Yes, they have made lots of people successful. However, success doesn’t appear to be typical or easily attainable for the average person who will stumble into them. Sure they have great products, but good luck building a business with them. My experience in such opportunities is that you need to know a lot of people and have a lot of family whom you might go to and try to sell things to.

The beauty of the cryptocurrency opportunity is that there are no programs to sign up for, no monthly membership fees just to be a part of it; there is literally no mandatory overhead or expenses just to be involved unlike the aforementioned programs. There is nothing to buy nothing to sell. Cryptocurrency exchanges and marketplaces often have referral programs but you make only a small commission on the typically small fees that are charged by the platform. However, it is easy to build a referral base since people signing up are wanting to use the service anyways and registrations are always free. Exchanges and marketplaces operating on cryptocurrency only exact their fees when transactions occur, which is very fair. You are not paying for something you didn’t use or are deriving no benefit from.

A major factor involved with people being able to build success in MLM’s is there being a mandatory subscription or fee structure which subsidizes those in your up-line. Even if you fail at selling product, it is possible to succeed by selling others on joining these “opportunities.” These types of programs generally charge a monthly fee or require you to subscribe to the service in order to be eligible to sell the products. Often, it is a burden of hundreds of dollars up-front. I feel much better about bringing to your attention, an opportunity in which there are no compulsory costs.

I’ve met people who were so successful at MLM programs that they were able to quit their jobs after a couple of years and pocket half a million dollars a year as a result of their success. Not everyone is cut-out for that kind of opportunity and those kinds of results are not at all typical, especially for people like me. Doable, but not typical. It is a tremendous investment of time and money just to see if you have a chance at succeeding in such programs. There is no need to invest time and resources into cryptocurrency to wonder if it will work. There is no if. There is only get involved in whatever capacity you are able while the getting is good.

I’ve personally given a full attempt at making sales opportunities work; I am not a sales person and network marketing is not my thing. Once upon a time I was excellent at selling, but those times in my life have passed. I would rather operate in a passive business model whereby I do not have quotas, and where I can actually help a lot of people. Writing books has turned out to be my niche, and it fits my needs for a passive business model and amazing opportunity; but now also, has cryptocurrency. It has proven to be of such a revolutionary opportunity that not even I have failed at it, and mediocrity has tended to be my middle name throughout life. Yet, here’s something that has allowed me to position myself for outstanding success.

Whatever I could do, everyone else was always doing better. It is particularly annoying when I have figured out how to do one thing so well and all of a sudden it quits working for me even though I have not done anything differently. One of the great lessons in life is that it is possible to do everything correctly, everything you are supposed to do, and still end in failure. The universe tends towards disorder, and we are sucked right along with it whichever direction it is wanting to take us. There is but one solution to this problem; sticking with it, finding what works, and seeking every opportunity we can find along the way.

Opportunity, and making use of it, is the key to defeating our “status quo”. It’s been said that we all come into the world with nothing and with nothing we go out of it which makes us all equal in that regard. The only reason our lives vary so much from person to person is due to the degree of which people have seized opportunity or ignored it. Opportunity is the lever with which we might move our world, and it is the intent of this publication to show you the places to stand from which you may apply your greatest leverage with the most force to make the largest positive impact in your life that this, or any, opportunity can possibly provide you.

You will probably have doubts well throughout reading this book. It is healthy to view things with skepticism, and our lot in life can be of such a nature that we can’t imagine breaking free of it. I’ve been there and in fact, I still struggle with it. It is very demotivating when you can have so many years of such bad luck, and to be walked on and stabbed in the back by so many people, especially relatives. I’ve been railroaded out of so much by so many people; but in the end, my failures are all chalked up to missed opportunity. Not doing what I should have, when I should have, because I didn’t know any better or how to make it happen with limited resources. I’ve been so demotivated, that this book is nearing a year in the making. When I started out, Bitcoin was a mere $700. Now, I am rewriting and revising my chapters as necessary to make them more valuable to my readers; Bitcoin was $3,000 when most of the following chapters were written originally but now it is a whopping $7,500. *Now doing the proof-edit before publishing just a week or so later, Bitcoin is now $10,000+.*

I want to stress that Bitcoin is a huge opportunity yet, but it is very volatile. If you buy a large quantity at $7,500, and it drops to $5,000 or $3,500 you will feel sick; but the trend always is that it never goes lower than previous lows, and it is getting harder to mine by the day, and there is so much demand for them and so little supply. There are people publicly going on the record stating that Bitcoin will reach $1 million dollars by 2020 (Bill Gates said this according to numerous articles I’ve ran into. I can’t verify it obviously.) A PayPal executive recently said there is a greater than 50/50 chance Bitcoin is already worth a million dollars, and that was in a reputable news article!

Eventually yes, Bitcoin is a million-dollar coin. If we were to go into a coma and wake up in ten or twenty years and check the price of Bitcoin, we will be in total shock. In ten or twenty years from the publication of this book, never mind a hundred or more years passing, it is astronomical to think what might come of the Bitcoin value. So, if buying Bitcoin, I will tell you straight up to figure out what percentage of your income you want to put into it, and do not fail to follow through. It will go up, it will go down, but it will average out and in the end you will win. $10,000 BTC is around the corner, then it will go for $25,000… Once it hits $25,000, it won’t take long for the hype to drive it to $100,000.

The stable price of Bitcoin for a year or so had been around $1,000 a coin. I couldn’t justify spending $1,000 for a Bitcoin. Then, it dropped to $700, and I won a Bitcoin in a casino off a 0.01 BTC wager. My laptop died, and I had no way to afford a replacement. So guess what, I had to sell my Bitcoin and add a few bucks to it yet, and buy my new laptop. No computer means I am unemployed; my livelihood is my computer.

It quickly headed to $3,000/BTC after I had sold. So in many ways I feel like I’ve missed the boat, but I haven’t missed it. Bitcoin is only one facet of this beautiful opportunity, as you will see in the coming chapters. It is very disheartening however, that this laptop went from being a $1,200 machine, to being about a $10,000 machine thanks to that money not being able to stay in BTC where I needed it to remain. This of course is the very definition of an opportunity cost, by the way. If I kept the BTC it would have cost me being able to work; and selling it for the laptop means it cost the BTC to be able to keep working.

In 2010, I don’t know that anyone took bitcoin seriously. There were some people who knew it was heading for hundreds of dollars but I don’t think any of them then were able to foresee it heading for the thousands and tens of thousands of dollars a coin. I am going to attempt to write this book with the perspective of what it would have taken to convince me in 2010, when Bitcoin was new, to have gotten involved and not to have missed out to the degree I did.

We may possibly have missed Bitcoin to a great degree but not completely; however, there are new coins skyrocketing every day! There are literally dozens of cryptocurrencies I had looked at and thought, “I don’t think it will do anything”, and that is dozens of times I could have turned a few dollars into a few million, rather literally. Take your pick; $0.05 Litecoin going up almost to $100.00 a coin. Monero, Ethereum, all doing similarly. There will always be more such opportunities, but unless we retrain our minds how to think and approach these things, we will continue to miss them. It is all too easy to dismiss something with a low value as being worthless, and it gets a person every time.

My great uncle told me the story of how once he owned around four-thousand acres of water frontage on the river, and gave it away because all he wanted was the timber, which he logged, and didn’t want to have to pay taxes on the land afterwards. The value he once seen in it was already exploited and no longer existed, and was content to tell everyone the land was worthless, so as he told me, he gave it away for the taxes. Turns out, that same land became worth hundreds of dollars a square foot when people started wanting to retire or build vacation homes to be able to live on the water. It is human nature to not see the value in things which are valuable until long after it’s too late. Traditional thinking had blinded him to any future possibilities. Hindsight is 20/20, but lucky for us cryptocurrency is an ongoing opportunity for the foreseeable future. Think of how old traditional money and banking is, but there are still opportunities here and there, right? Imagine how young cryptocurrencies are now, and how exponentially greater the potential opportunities are with them where the future is concerned!

The biggest critics and skeptics are going to say that the American Dream is dead, or rags to riches is impossible. It just can’t happen, right? Wrong. Maybe it is difficult, and very hard to obtain, but it is possible and it does happen. The hardest part is convincing yourself to participate in any given opportunity while it is still good timing. The perceived risks can seem so much greater than the actual risks; we can only spend time once. We live in the moment, heading to the future, but the past is sealed so we try to do what we think is right and what we think we need to, especially when we are wrong. It is possible to be burned by so many opportunities and so many people, that we just don’t want to try anymore. This, however, is different from most opportunities.

As for rags-to-riches; I personally know a couple that I am good friends with whom had turned their last $100 into what became a multi-million-dollar empire of retail stores. They didn’t whine how unfair life is, nor did they cling to their last few dollars. They didn’t say the world owes them a living. They never went on any government handouts, either. They dared to pursue a vision in the most traditional American way imaginable.

It did take them years of working for nothing all day to build what they did; the song Taking Care of Business is not an exaggeration at all, but a literal truth of what greatest success stories have gone through, and what the average nine-to-fiver does not understand or even acknowledge.

Workers feel like the rich are getting rich by stepping on them to climb their way up. No, the rich got rich by sacrifice and risk taking; it is why to some degree owners resent their employees, for their employees tend to feel entitled and exploited but have no clue as to what hardships the owners themselves endured to build a nice big company that can offer a relatively safe career to its workers that do not appreciate the effort to be able to build something that can offer a job.

If it weren’t for entrepreneurs and capitalists, there would be no jobs. Government does not create jobs, (except in its own agencies which are far overreaching in size and scope) the private sector does. So long as people can’t find their own way in life, jobs will be necessary because people have to eat, afford housing, and raise their families. When a poor person wants a loan to start a business, they go where? To a banker, or a rich person who can finance the venture without sacrificing their own ability to survive in the process.

Rich people do not stuff their money in their mattresses, rather they stuff it into the economy, building new buildings and factories and developing new markets for new products and services. This is what creates the jobs most of the world so desperately needs in order to survive, not to mention they are driving innovation. Who among you can gather a few people and empty your wallets into one pile and say, “Let’s start building smartphones and compete against Apple and Motorola!” It just doesn’t work that way. If you truly had the abilities to make a phone, you would have to seek out the capital, a lot of capital just to get going, and it would be years before you were able to keep anything for yourself. If you destroy the wealth of the few who were successful, you destroy the ability for them to feel like they can afford to take risks on people who want to borrow money to do big things with their great visions, particularly in things that banks are prohibited for lending money for.

The job you don’t like but have to have because your survival requires it, only exists because someone originally sacrificed most of their time they could have spent with their family or doing whatever else they valued, and put everything they owned on the line. Everyone who works for themselves that has achieved anything great literally has done their time of “working for nothing all day” for much of their business owning career; five to ten years is a common duration to pass before business owners have something left after paying overhead to no longer have to work all day for nothing and be rewarded for their labors and lost time.

There are hundreds of thousands of people in this country who “make” millions, but after the tax man takes his cut and after paying operating expenses, they are very lucky to even be a part of the middle class heaven forbid they can actually keep anything they have earned for themselves. One does not simply become a part of the mythical one percent without having to work hard and sacrifice a long time to achieve it.

There are rich people who are totally lazy and had their fortune fall into their lap, and yes, they have earned our contempt. It is better to not be upset with what others have and you don’t, but labor to build yourself up, instead. The thing about wealth though, is if you didn’t build it yourself, you haven’t a clue how to make it grow further and it is why lottery winners are in the poor house a year or two later. I am actually going to teach you how to build your wealth through cryptocurrency, and by building it yourself, you will appreciate it, and be able to keep repeating it as necessary until you are comfortable with your success and able to achieve everything you want to achieve.

Devoting even a small amount of your spare time to finding and participating in any opportunity can very much make the difference between vacationing on your couch due to it being the only place you can afford to visit, and sitting on a beach somewhere watching the sunsets and feeling like a winner because you finally made it. You have to dream big, and these dreams will not happen unless you take some steps towards making them happen. Fortunately, you do not have to create a whole new industry like Vanderbilt and Carnegie did, nor do you have to make a new invention like Edison; you merely have to open your mind to this phenomenal opportunity which is before you now, in this book.

A truly great opportunity can be participated in equally by everyone regardless of who you are or where you come from. (The exception of course might well be China, with their great firewall keeping everything out they don’t want in, including cryptocurrencies and websites pertinent to them. Even in Vietnam, Bitcoin itself is banned entirely, yet the people still buy and sell it on the streets and in shops in secret. If communism can’t completely stop cryptocurrency, there is very little that can.)

Bitcoin has allowed people to bypass all manners of regulations, and that is the kind of trait which is valuable in any currency. The free market principles are always at work as surely as the universe has laws it operates under and will always find ways to reign in overregulation. Cryptocurrency is one such mechanism for enabling free market ideals to keep working. No matter how totalitarian a country is, there always will be a black market. Black markets are not evil, they are just the free market continuing on despite the whims of a nation’s leaders, although most of the stuff that should never be for sale is available through black markets so therefore they garner a bad reputation and end up scaring people away from them, along with the types of people that are involved.

I myself failed in the beginning to make a proper assessment of Bitcoin and associated currencies that came afterwards. It was a fifty-fifty chance of me deciding correctly (either I would do it or I wouldn’t do it) and I chose wrongly. In betting against Bitcoin, I came to learn that I had bet against human nature and the fact it always seeks a new way to finance its vices and circumvent the rules we find in society, which is necessary in preserving liberty by the way. I do believe in laissez-faire, do as you want to do but let me do as I want to do, though there are a few small exceptions: As long as everyone’s activities do not interfere adversely with the lives of anyone else, there should be no regulations or laws restricting us in our ventures and enterprises. We need fewer regulations and fewer laws. Let people be free enough to succeed. Now, kids can’t even set up lemonade stands, they have to have inspections and permits first!

(Yes, black-markets notoriously have used cryptocurrency, but there will always be black markets. Don’t let that dissuade you, for at one time in history just about everything has been illegal somewhere. Books were burned in Nazi Germany; alcohol was illegal during prohibition in the USA. Would you believe there are places in the United States where adult toys are illegal? As sad as that is, there probably is a poor soul in prison somewhere because they were pulled over by the police with a carload of vibrators. Draconian laws are numerous, and growing in number by the day. It is my hope people will wake up and choose liberty over tyranny. Just because something is illegal does not make it wrong. The real wrong is usurping the natural rights of individuals on the supposition they may abuse them.)

The more against “the system” something is, the greater chance that it will potentially succeed and be seen as tremendously valuable. Bitcoin was just one of those great innovations which ran entirely against the system and indeed has proven itself. Gold and silver run against the system too, which legally they were supposed to always be our system if you read the constitution, but thanks to Woodrow Wilson along with the Federal Reserve and Internal Revenue Act of 1913 which he signed into law, that all changed forever which is a discussion for another book which I plan to write telling the story of why sound money is necessary for a society to prosper. This act paved the way for the total destruction of sound money which was the ever watchful guardian of private wealth and prosperity.

There will always be attempts from those in power to curtail the liberties and safeguards which things like gold and silver provide against a progressive government agenda. President Franklin Delano Roosevelt seized all privately owned gold under his first executive order (#6102) upon entering office in 1933, though $20.67 in non-redeemable paper money was paid for each ounce of gold seized. In 1934, gold was revalued to $35.00 an ounce, meaning in a year’s time the people who lost their gold to the government were robbed of around 40% of their wealth almost overnight. It wasn’t until the 1970’s when gold was deregulated and again legal for Americans to own. When something serves the interests of the people too well, government will always try to stop it.

Bitcoin cannot be seized or confiscated in the traditional sense, and it is unclear if even the Great Firewall of China can stop cryptocurrency completely. Then I’ve heard rumors about China wanting to ban all cryptocurrencies and create their own state operated cryptocurrency which all of their people are to use!

People love their freedom even if they do not fully understand the concept of freedom at times; Bitcoin is essentially a financial freedom movement at its very core and just like an idea, it will always waft across the highest walls and the most secure borders. I did not even think about these things in the beginning. I did not know these were things to even consider. I seriously underestimated Bitcoin’s ability to preserve and enhance liberty and my skepticism would not allow me to see the real value inherent in something completely intangible.

Had I dared to even put a hundred-dollars into Bitcoin in the beginning of the coin’s life, I would be wealthy beyond my wildest dreams. All that would have been required to convince me to do so would have been to cause me to recognize Bitcoin for the vehicle it was; a vehicle enabling mankind to sneak through the regulatory firewalls which are ever obstructing opportunity and prosperity. This is the real root of freedom; being able to use our wealth how we want to. We earned it, we suffered for it, no man and certainly no government has any right to tell us what we may use our money for, yet they do because they have us entirely reliant upon money they create out of thin air, that they regulate.

We have almost come full circle: It’s how the tea ended up in Boston Harbor. Britain and King George the Third were essentially looting the colonies by placing Americans under such heavy financial and regulatory burdens beyond which could be tolerated, and eventually people did something about it. Chief among the tyranny was the refusal to allow a fair money system to operate in the Colonies. Something will always be done when it gets to that point regarding anything, so here we have arrived at throwing traditional banking into the digital harbor.

It isn’t a new concept to do what we want with the money we’ve earned and the capital we have built for ourselves; rather it is an old one that once was championed as “free enterprise”. Corporatism has infiltrated and replaced real capitalism and free enterprise. It is why we have so much red-tape preventing anyone from undertaking any venture without a mountain of permits and licenses. Big business has learned how to protect itself from competition by making sure no one can come in and compete, and if they do it will be so costly they won’t possibly survive trying; all while the regulators are bought and paid for to serve them.

Laissez-faire doctrine is the only doctrine truly enabling us to achieve our greatest potential. It is what enabled industrious people to go from rags to riches. America used to be the nation of free enterprise, and we are slowly returning to it after decades of government overreach and red tape; but our problems of today are largely due to this country turning its back on what made it great in the first place: Sound money and economic freedom. Both of which are enabled by cryptocurrency because cryptocurrency, while to some degree is being regulated, is reasonably impossible to enforce regulations against.

Government can freeze bank accounts and seize assets. However, money is controlled either by banks or by governments or both. Cryptocurrency is decentralized, there is no one place they can go and shut you down at. They would literally have to seize all of your hardware, all of your internet accounts, and even then they still couldn’t possibly find all of the places you may be hiding your cryptocurrency. All they can do is enforce regulations concerning the conversion of fiat money into cryptocurrency, or vice versa. Money is necessary in any form we can find it in, and even more valuable is to be able to use it as we see fit. Government does not know what is best for us, we do.

Money is said to be the root of all evil. This is not true at all. It is the love of money that is the root of all evil. Money itself is a tool bearing the traits of its wielder, neither good nor evil in and of itself. The world runs on money, society cannot function without it. Bartering is declared by many people to be superior to the way things are done now, yet it is so flawed; whilst a cow is worth upwards of a thousand dollars today, would you work a twelve-hour day in the hot sun to only be paid in a few pounds of beef? I should think not. You could trade the beef maybe, but would you be able to find a taker before it spoils? You also can’t squirrel away fruit and nuts for your retirement, either.

Whilst people continue to prosper their governments try to become more devious in how they use money as a way of controlling and influencing the people living under them. An honest commodity money is ideal; people say it isn’t because the rich just hoard the money. Yet, fiat is believed to be acceptable and inflation is mistaken for prosperity; “Oh, everyone has more money now than twenty years ago!” I am sorry but someone is failing to consider the loss of purchasing power due to the inflation. Gasoline was also $1.25 a gallon twenty years ago (in the 1990’s), and minimum wage was around $5.00 an hour. Now, we’ve seen gasoline up to $4.00 and almost $5.00 in recent years but it has settled in around $2.75 per gallon currently. The minimum wage has not risen to $10.00 an hour even though gasoline is more than double.

Consider further that gasoline was at one time $0.25 a gallon. It would have been a 90% silver quarter containing what right now is $3.00 worth of silver at about $17.00 per ounce for silver. This means gasoline is actually slightly cheaper in terms of real purchasing power. So, it’s not that prices have gone up, it is that fiat money is confiscating our wealth and making us poorer every year that we use it.


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