Quick Guide for Bitcoin HODLers
Quick Guide for Bitcoin HODLers
A following path for new users to became true HODLers, stacking sats
Many people are NOT YET prepared or willing to spend their bitcoins. And that is just fine, not everybody started early stacking sats. Is a state of mind that you have to achieve for being able to spend sats. Is not easy.
Each new user have to pass through each rabbit hole phase of bitcoinization:
Initiation
Hear about Bitcoin, start reading some articles, watching some videos, asking close frens if they know about.
Bargaining
The indecisive pre-coiner is bombarded with shity shill from shitcoiner frens, start having doubts, confusion. You have to be strong in this phase, not to fall into shitcoining. Having good frens is not that easy.
Reading, Studying
The pre-coiner decide to learn more, by reading good material, documentation, understand how this new thing works, what is good for, why frens are using it. This is the longest and hardest phase. I wrote several guides (see my substack) and many more are out there, waiting for you.
Practicing
This is the fun part, you start testing some apps, wallets, practice what you just read in several guides and documentation. As a new user you should test apps as many as you can, to see which one is more suitable for you.
Stacking
Saving all you have in BTC, you buy BTC every time you can, you just save and save sats, for better days to come. You still are afraid to spend them, because you think you will never reach to have a good amount to secure your future. Greed is at high levels in this stage…
Advanced mode
You want to know more, you just discover the fully potential of Bitcoin, you want to apply it in every aspect of your life, you start to hate banks. You’ve just started to fell the ultimate power that Bitcoin can give you, but you still don’t have enough advanced knowledge to use it. So you read and test more solutions, apps, run nodes, build apps, write code.
Maximalism
You reach a level of knowledge that makes you a “Bitcoin Maxi”, sometimes even “toxic maxi” and this is due to exploring a lot of Bitcoin rabbit holes, that open your mind to unlimited solutions based on Bitcoin. There’s NO turning back way from this point.
Live on / from your Bitcoin stash
This is the ultimate level, when you earn, you spend, you stack only Bitcoin. I wrote a dedicated guide here, explaining also how to use Bitwage to get your income in BTC (if you are not paid directly in BTC).
If you reached this level, you should read also more guides about how to spend your sats, what apps and solutions are available, where to spend them:
Lightning Network is awesome - selection of more information about LN
Bitcoin Lightning in real life - list of examples in real life use of Bitcoin LN
So, now that you know what your “Bitcoin journey” would be, let’s focus a bit on the stage of “STACKING SATS”, “HODLing”.
Let’s consider that you already read enough guides and documentation, you know how to use Bitcoin at base level, but your short time goal is only to stack sats, never spend. You still have a “fiat mining” shity job that (still) offers you a way to save some of your wealth in Bitcoin. And that is perfectly fine, no matter what “toxic maximalists” would say, is part of your journey.
I was there, many years ago, struggling to stack sats, one by one, no matter what, never looking back to the price, FUD, ups and downs and all that crap, always with the hope in my mind that someday I will see the light.
Here you have some simple steps you should do:
Don’t quit your job, no matter how shity it is, is a “mining farm” for the fiat you will use to buy BTC. If you can have 2 jobs, do it.
Stop buying useless crap things, spend your money ONLY on really necessary things in your life, to live a simple life.
No need for a 2nd car, sell the one you have and buy a 2nd hand bike, is more healthy. With those money, buy more BTC.
Stop paying a mortgage, sell the house, move into a rented house, simple, no luxury, save money and buy more BTC. Move out of big cities, close enough to your job to be able to use a bike. Is cheaper outside.
Stop taking large holiday vacations in luxury destinations. Useless! You can go to a nearest camping place, in nature, alone with a tent. Is really enjoyable and almost free. Save more money to buy more BTC.
And the list can go on and one like that…
Stacking sats no matter what… :) Create / buy a HODL wallet:
Buy a hardware wallet device
Keep safe this wallet and also have some backup copies, out of any other eyes!
From that HODL wallet generate a “watch-only wallet”, that you will use ONLY for deposit only. Here I wrote a guide how to do a simple one. You can use the MPK (master public key) from any hardware wallet also or just a bunch of deposit BTC addresses from your HODL wallet.
This could even be an old phone, installing a simple watch-only app like Sentinel or Bluewallet. Is not even necessary to be connected to internet, works perfectly offline to generate new addresses from your wallet.
Buy BTC from exhanges (preferably not KYC) and withdraw your BTC to your watch-only addresses. THERE IS NO NEED TO OPEN YOUR HODL WALLET FOR THAT! There’s no need to run a node for that!
STACK SATS continuously, never say anything to anybody, never declare anything you buy. If you are asked, is not their damn business or simply answer with “I had a boat accident, I lost them all”. Don’t worry about taxes, gov tracking and shit like that. You never sell them, so they can suck it.
Prepare for the next stage, start spending and even living off your bitcoins.
BE A HAPPY BITCOINER! FUCK THE BANKS!
MAY THE ₿ITCOIN BE WITH YOU!
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