Coming from a pretty humble beginning as a kid entering this industry, Carl from The Moon is here to share his inspirational journey to being a Bitcoin millionaire!
“It was not many years ago when I was working in grocery store, I was doing what everyone was doing before Crypto, then I found Bitcoin, immediately my mind just changed. I was very very excited about the whole idea of Bitcoin and decentralized money. I knew this is my future now, I have to do everything to get into this, I want to change my life.”
“Before Bitcoin I was already interested in gold, I already had the background, not only charting, the monetary policies, like Gold, why the Federal Reserves is bad and all that stuff.” He said he knew about these monetary policies reading articles and watching YouTube videos.
“It was very very intriguing to me the fact that banks have so much control over our money, how the central bank evil system control the world through the system of money and back then, I thought gold was the answer because it’s very similar to Bitcoin in the sense that its not controlled by one single entity and it’s somehow decentralized because not one party can control all the gold.”
Carl says learning Bitcoin was made so easy from Gold perspective and believes what worked for thousand of years[Gold value appreciation] doesn’t necessarily have to work in the future and think the internet deserves the introduction of Digital Gold.
“Every single paycheck I ever got went straight into Bitcoin, I was even struggling with money so I had to sell some back to buy the essentials.”
“When I learnt about Bitcoin, I realised it’s not enough just to buy Bitcoin, for me I realised I need to make a career out of Bitcoin and go full time Crypto. If you want to make money in the space, go full time Crypto. It was just the same back in the dot com era, you can buy stocks and make money from it but go out there, look for opportunities and work with the space, create your business.”
“That’s what I wanted to do[building a business in Crypto], that’s what I did, created my YouTube channel. Creating a business that is dependent on the Crypto space is important because whatever you can do in Crypto will 10x with the Crypto space when the Crypto space goes 10x. It’s important to pick an industry that’s going to do well.” Carl on why he went full time Crypto.
“I think that everyone that goes into Bitcoin or Crypto should know that the volatility is there and it’s extreme. Buying Bitcoin today could mean that your money is worth 50% less tomorrow, it could also means its worth 100% more tomorrow. Whether you are trading or investing it’s very important to know Bitcoin is volatile.” Carl on what’s going on with Bitcoin pump and pull backs.
“Specifically if you want to buy Bitcoin, I always tell people not to buy everything at one point. You should buy on average, maybe weekly or monthly. This way you don’t have to time the market especially if you don’t know much about Technical Analysis especially for investing which is for long term.”
“You don’t want to have any emotions attached to what you are buying, if you go in with more money that you are comfortable with when Bitcoin goes down 30%, I’m sure you’ll start to feel some emotions, you don’t want to have this emotions because you panic sell and then panic buy back in when Bitcoin pumps back. This is how you lose money.”
“If you are trading, you should not put in more than maybe 5% of your portfolio. Position size should be very small against your entire portfolio for risk management especially if you are a beginner. Basically nearly all traders lost their whole account, it’s part of the learning process, you learn the hard way that’s why in the beginning don’t risk too much because you will probably lose the first little portfolio you put in.” Carl on trials and errors, concludes traders should learn from mistakes.
“First of all I don’t consider myself a Bitcoin maximalist, I do hold a couple of Altcoins but I am more bullish on Bitcoin than any coin out there. I think the end goal for Bitcoin is to potentially become the world reserve currency.” Carl on the long term path for Bitcoin.