Seize Control Of Your Finances…Buy Bitcoin

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Posted by The Savvy Retiree on February 17, 2017 in Money Saving Strategies, Personal Finances

Marc Carignan writing on bitcoin…

There’s an old expression, attributed to the Chinese, that goes, “may you live in interesting times.”

We certainly do.

I grew up in Manchester, New Hampshire, the largest city in one of the smallest states in America.

It was cold in the winter and it was hot and humid during its short eight weeks of summer. What it did not offer in weather it provided in close knit families and life-long friends.

Perhaps people who braved that kind of weather formed some sort of special bond, a certain badge of honor.

Following graduation with a Computer Science degree from the University of New Hampshire, I worked briefly for two local computer companies in the area. Then heard a call to “go west, young man.”

So began my adventure in California’s Silicon Valley – and the timing was extraordinary.

Shortly after my arrival, the internet launched. A new world of connected computers, networks, and people, was dawning…and I was at the epicenter of this new world.

For over a decade, I worked with several startups launching dozens of creative products and services.

Then, in early 2001, the Silicon Valley’s bubble burst.

A few months later, the 9/11 terrorist attacks packed the one-two punch that knocked most Silicon Valley companies to the ground.

During these next seven years, I pursued my own entrepreneurial ventures including a bed and breakfast and an executive coaching company.

I began questioning my belief in banks, my trust in governments, and my confidence in the mainstream media.

Then came the Great Recession of 2008.

This brought in another difficult time, yet with each challenge comes its own opportunities.

A new idea was, in fact, quietly beginning to emerge.

That idea, launched on January 4, 2009, was about a new type of currency that was completely digital.

New Ideas

Buy bitcoin

©iStock.com/cruphoto

The idea’s name was Bitcoin.

Everything else seemed to have gone online. Wasn’t it time for cash to make the leap as well?

I was introduced to Bitcoin in early 2013 by a news radio talk show host.

By mid-2013, I was buying bitcoins every month, increasing my investment in this new digital currency.

In February 2014, however, I got a wake-up call. The largest bitcoin exchange in the world at the time, Mt Gox in Japan, froze all accounts and seized operations.

My bitcoins, and those of thousands of others around the world, had been seized. Many speculate that the cause was a combination of online hackers and internal thieves.

This happened to me twice more at two different exchanges.

I had studied Bitcoin sufficiently to understand its resiliency and security, yet I had not implemented my own personal security for this new digital currency.

That’s when I realized that holding bitcoins is just like holding cash. You need to take responsibility for the cash rather than blindly trusting others.

So, I studied the options to secure bitcoins offline. It turned out that the inventor of Bitcoin, Satoshi Nakamoto, had already defined a method to keep control of this new digital cash offline, away from hackers and thieves…and even provided the software for free.

Once I mastered it, I wrote a book called The Bitcoin Tutor, which became a best-selling book on the subject.

I don’t know when the current global financial system will crash. Perhaps it will suffer a drastic fall, or maybe it will be more of a soft landing.

But today it is not unusual to hear people talking about preserving their wealth by keeping a portion of their investments in gold, silver and bitcoin.

At this point, I sleep better at night knowing that I maintain a rather significant percentage of my assets in bitcoin.

Today, I am a happy man. No matter what happens.

Editor’s note: Marc Carignan runs the website, thebitcointutor.com.

Image: ©iStock.com/Tsokur 

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