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April 20, 2013, 04:50:45 PM |
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It seems that there is tons of free money to be had, doesn’t it? It seems that everyone is raking in the bitcoin. It seems everyone started mining in 2009….
Reality can be easily skewed. Slow down.
I would like to propose two ways to achieve wealth with bitcoins. It’s not easy. They are not novel approaches and it’s not for everyone, but if you will indulge me, and my self-centered title, I would like to share my opinion.
The First Way
Dollar cost averaging. Anyone can follow this approach. Every week, every two weeks, take some of your paycheck and buy some bitcoins. Just buy ‘em. You aren’t trying to buy low and sell high. You just want to slowly accumulate a number of bitcoins.
The Second Way
Create something. Get some bitcoins. Buy ‘em. Then figure out how to turn those bitcoins into more bitcoins by creating a service for the bitcoin community. This is the hard part. This is the part where most people can easily recognize the answer after they see it and they will say, “Hey – I had that idea….”
The idea here is to USE bitcoins to create something. It doesn’t mean you can’t augment bitcoins with fiat currency, but try and do it with bitcoins – you will be helping build a stronger community.
What is hard to see, what’s hard to believe, is that the second way will lead to other ideas, and connections you never dreamed possible. It is those secondary connections that will ultimately result in something truly big.
I’ll give you a headstart – here are some ideas:
1. Give a bitcoin introduction class at your local (whatever, community college, lodge meeting, etc.)
2. Start a local bitcoin users group – something more than a meetup, but a regular meeting where ideas can be shared and matured.
3. Create a bitcoin for coffee club (this is just because I want to use this service). Subscribe for bitcoins and every month send a new coffee of the month.
4. Create an iron-mountain-like cold-wallet storage facility.
Enjoy the day!
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