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My Story: How did I get to become a Cryptocurrency Coach?
It all started back in 2008 in the middle of the Great Financial Crash, but let me give you a little bit of context. Prior to 2008, I cared very little about the world of High Finance or the significance of economic theories. I had little interest in Stock Markets which were for day traders and wealthy investors as far as I was concerned. I had made some small investments in shares and was unimpressed with slow the growth and high fees involved. Whether the markets were up or down, I had a business to run and I didn’t see how this was connected to my day-to-day life. However; the Great Financial Collapse of 2008 changed all that.
In early 2008…
Bank credit had dried up; It was like someone flicked a switch and everything came to a grinding halt. I closed my architect’s office in June of that year on the advice of my cousin, a lawyer who seemed to have the inside track. Whole sections of the economy imploded, including the construction industry of which I was a participant. I went from being care-free about the Stock Market and International Finance to becoming obsessive. I wanted to know how one sector could change the world so quickly. I started listening voraciously to audiobooks, reading blogs, watching video livestreams and films, following the money wherever it led. One of the places it led me was Bitcoin. Coincidentally, another entirely separate development also led me there. Here’s how that occurred:
It was summer 2011…
I had become fascinated with 3D printing and I’d heard about a group of geeks who had formed a “Makerspace” in Cork City, and one of them had a MakerBot (The hippest name in 3D printing machines at the time). We arranged to meet. The printer was amazing (when it worked), but these anarchists (the civilised type) were also very excited by this crazy new idea called Bitcoin and the “blockchain” technology which drives it. It was during the time of Occupy Wall Street and the notion of an unbreakable monetary technology that could take on the fat cats was highly attractive to say the least. Mesmerised by the concept, I wanted to buy some. It was $15 at the time, but two things stood in my way: One was that I had no money. The other was that to purchase Bitcoin then required sending money to a Japanese exchange called MountGOX. This, added to my own inertia killed my momentum.
Of course, there was also the possibility of “mining” Bitcoin, but apparently the cost of electricity outstripped the cost of acquiring new coins. The subsequent appreciation in the price since then makes it sound like a ridiculous excuse; No-one could quite foresee Bitcoin’s explosive growth or when it might occur. Setting up a Bitcoin mining rig (a computer doing calculations to help run the network) in those days was beyond my level of technical skill.
there was a banking crisis in Cyprus and this was the main catalyst for a massive rally in Bitcoin’s price. It was around this time I arranged to give a presentation to a small group of investors that my father was involved with. I couldn’t very well show up without owning any, so I promptly invested a modest sum. Bitcoin was hovering around $1,000 a coin (A coin being the equivalent of 100 million “Satoshis”*) at this point. The investors were impressed with my presentation, but evidently not enough to take action. In any case, it did serve to start me on my Bitcoin investment odyssey. I’ve followed all the ups and downs since, taking some profits along the way. What a ride it’s been, and there’s so much further to go.
*Satoshis are Bitcoin “pennies”.
Why do I want to help people?
I’m passionate about financial freedom and want to help others (and myself) to achieve as high a degree of liberty as we can. I believe Bitcoin to be the most brilliant idea to emerge during my lifetime. It was wonderfully conceived and executed, and is changing the world as we speak. For the first time in Man’s history we have an honest medium of exchange which works as intended. Bitcoin can’t be inflated beyond 21 million, transactions cannot be reversed and they are permanently recorded in a public ledger.
Strangely Bitcoin, though a very modern concept, works similarly to some ancient tried and tested principles. Basically, it’s a yardstick against which the value of goods services and equity can be measured. That’s notwithstanding its current wild volatility which will dissipate over time to eventually become a “boring” commodity. Most of the world’s asset classes have not been bought or sold using Bitcoin as a medium of exchange. Yet.
My intention here is to look at cryptocurrencies from an everyday perspective. We all want to improve our lot, and history strongly indicates that over the long-term cryptos will provide that opportunity. But without understanding what makes cryptos valuable and important, we are at a significant disadvantage. The optimal strategy is long-term; invest a little at a time, without staking money we can’t afford to lose. Understanding cryptos even a little helps enormously. In the contents of this website you’ll find a few little tips and tricks that if heeded, will save you a lot of money and heartache.
The Goal of this website
This website is for anyone curious about cryptocurrency investing but perhaps isn’t too sure whether it’s for them. You’ll find jargon-free facts and guidelines for what works in cryptocurrency investing and what to avoid. It includes a blog, free resources and downloads, tips and tricks. If, after you’ve thought about it, you do decide that you’d like to invest, I provide a course called “Beginner to Winner” that will get you started on your journey to becoming a successful cryptocurrency investor.
If you ever need a hand or have ay questions, feel free to leave them below and I will be more than happy to help out.
*pauljameslee.com does not provide financial advice. Cryptocurrencies are volatile assets and their value can grow and fall rapidly. Never invest more than you are prepared to lose entirely. All investment is entirely at your own risk.
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