Latest news with #SaifedeanAmmous
Gulf Insider
5 days ago
- Business
- Gulf Insider
It's Not Too Late To Become A Bitcoin Billionaire. Here's What You Need To Do
If you're curious about Bitcoin but haven't made a move yet, you're not alone. The hardest part is getting off zero. That place of paralysis — where you're interested, but overwhelmed — is where so many people get stuck. But, like anything, the way forward is a single goal broken down into manageable steps. Let's say your goal is to accumulate as much Bitcoin as possible before adoption goes mainstream. That's a great objective. If I were starting from zero today, here's exactly what I'd do: Start by opening an account with a cryptocurrency exchange. If you're in the UAE, BitOasis is a good option. It's intuitive and easy to use. You'll need to complete a process called KYC, or Know Your Customer, by providing basic ID documents. Down the road, the platform might ask you to verify your knowledge about investing before allowing higher-level transactions. Don't stress, it's standard and manageable. Don't throw your savings at Bitcoin right away. Don't think you have to go in even with a few thousand dirhams. Start with Dh100, Dh250, or Dh500. Pick an amount you can afford to lose and more importantly, afford to continue investing regularly. Think small, sustainable, and repeatable. Pick a daily, weekly, or monthly investment amount and stick to it. This strategy is called dollar-cost averaging, and it protects you from trying to 'time' the market. You'll be buying Bitcoin at a variety of prices, and over time, that averages out. The key here is long-term commitment. You're not in this to make a quick buck — you're buying and holding a scarce digital asset. After years of struggling to save regularly, doing this with Bitcoin has proved not only doable but also addictive. Remember: there will only ever be 21 million Bitcoins. And institutional investors are already scooping them up in a major way. That alone is reason enough to get serious. Understanding why Bitcoin matters is essential. Start with reading The Bitcoin Standard by Saifedean Ammous. Watch Strategy founder and Bitcoin maximalist Michael Saylor's talks — he speaks clearly and compellingly about Bitcoin's value from a corporate perspective, but it translates to individuals, too. I also like Mark Moss, who talks about how to retire using Bitcoin on YouTube. Subscribe to Bitcoin newsletters like The Daily Bitcoiner and set up Google Alerts for 'Bitcoin news' to stay in the loop. This part might surprise you. But in the beginning, don't talk about your investments. Most people don't understand Bitcoin and their scepticism will chip away at your confidence. They might also make fun of you. (The joke's on them, but it will probably take awhile for that to become apparent. Who needs ridicule from the obtuse?) Instead, seek out others who are knowledgeable and positive about the space. It'll help you stay grounded as you learn. Bitcoin isn't a sprint — it's a marathon. This isn't crypto madness; it's sound money. The learning curve is steep, but it's worth it. Over time, as your knowledge grows, so will your conviction. And as your Bitcoin balance grows, you'll reach a point where you're ready to take the next step. When you reach an amount you'd be uncomfortable losing — only you will know when this is — it's time to move your Bitcoin off the exchange and into a wallet you control. A hardware wallet like Ledger is a great option. This will involve setting up a 'seed phrase' — a set of words that gives you access to your Bitcoin. Never lose it. Never share it. Keep it safe in multiple secure locations. Once you're comfortable with Bitcoin, you might want to expand your learning: Raoul Pal is a brilliant voice in the space. Coach John Vasquez (coach JV) offers accessible foundational courses. Mike Dillard's 'Richer Every Day' community and his Crypto 101 course are excellent resources. Eventually, maybe other large, mid or small cap projects will catch your eye. Always do your own research. As you go deeper, DCA still applies. But also remember: altcoins are riskier. Some may yield massive returns. Others may not. Always invest only what you're willing to lose. If we're heading into a bull run, and it seems like we might be, it's tempting to jump on every new coin. Be cautious. Don't buy at the top out of FOMO (fear of missing out) and don't give into FUD (fear, uncertainty, and doubt). Stay grounded in what you've learned, and what goal you are pursuing. As your confidence grows, something else happens. Your mindset starts to shift. You begin to notice more conversations, resources, and people in this space. You've awakened your reticular activating system to something new, which means your awareness has expanded. You're now open to new possibilities and in many ways, that's what this entire journey is about.
Khaleej Times
20-05-2025
- Business
- Khaleej Times
Dubai: Want to invest in crypto? Read this book now
'Just read The Bitcoin Standard.' That was the advice I got two years ago when I told someone I was having trouble grasping exactly why anyone would invest in Bitcoin. I knew I was being called to learn about it, but I had real trouble putting it all together. Thrilled to finally have some direction, I immediately ordered Palestinian-Jordanian journalist Saifedean Ammous's book. That moment marked the beginning of my journey into understanding Bitcoin – and that paperback remains one of the most fascinating I've ever read. Recently, I ran into a friend's husband at the coffee shop in my building. In the course of our conversation, he said he was crypto-curious. He'd been listening to podcasts and watching YouTube videos, but he was still pretty confused – understandably so. He admitted he was too embarrassed to ask basic questions – starting with 'why'. I was seriously impressed with him: this kind of humble expression of curiosity is all too rare these days. I told him about The Bitcoin Standard and when he said he'd definitely read it, I ran upstairs and grabbed my copy. I've recommended it many times before, but this was the first time someone actually seemed ready to dive in. I loved this book so much that in December, I made sure to get a pass to the Bitcoin MENA conference in Abu Dhabi just to see Ammous speak. He's sold more than a million books worldwide. After The Bitcoin Standard in 2018, he released The Fiat Standard in 2021. At the conference, he was talking about his latest: The Gold Standard: An Alternative Economic History of the Twentieth Century, which is out this month. It's a piece of economic fiction imagining a world where the gold standard was never dropped — and where money still meant something. Ammous's writing is essential for anyone setting out, I think, because of the way he so clearly outlines how little our money means – and how easily it can be manipulated. Whether it's clipping silver coins or the earliest forms of counterfeiting, once you see it, you can't unsee it. Stay up to date with the latest news. Follow KT on WhatsApp Channels. The Bitcoin Standard is more than just a book; it's an essential, revered text that offers a wide-angle view of Bitcoin's place in the modern financial system. Ammous's insights into the flaws of fiat currency – money – and the benefits of a digital asset like Bitcoin are both enlightening and practical. For anyone considering investing in Bitcoin – or just, like my friend, trying to wrap their head around the 'why' behind it – I can't think of a better place to begin. Here are a few of the reasons Ammous is all-in on calling Bitcoin the soundest money around: It's scarce Ammous argues that Bitcoin's fixed supply of 21 million coins makes it the first truly scarce digital asset — immune to debasement by governments or central banks. He makes a compelling case for how tempting it's been throughout history for empires to chip away at their currencies when it serves them. His critique of fiat currencies points directly to inflation, enabled by endless money printing and political interference. It's decentralised and sovereign Bitcoin operates independently of any government or central authority. That gives individuals full sovereignty over their wealth, reducing the risk of confiscation or censorship. There's no bank to go to and no middleman deciding if – or when – you can access your money. It lowers time preference Drawing on Austrian economics, Ammous argues that sound money encourages long-term thinking that values future rewards over short-term consumption. He backs this up by going back to the gold standard era, where economic stability and growth were the norm. Bitcoin holders, he has observed, tend to be savers precisely because they expect appreciation. And that helps them think twice before spending unnecessarily. It has global potential Ammous predicts that Bitcoin could serve as a new international monetary standard, much like gold did in the past. And while it's not there yet, it's edging in that direction. Individuals, family offices, companies, universities and even some nation-states are beginning to consider Bitcoin as part of their reserve strategy. His thesis seems more credible with every passing month. It's portable and efficient Gold is heavy, needs secure storage, and is tricky to exchange. Ammous highlights how Bitcoin, by contrast, is portable, divisible, and easy to transfer. Cross-border transactions can be settled in minutes, without banks or intermediaries. On the blockchain, everything is transparent and traceable. If you're confused about what's going on with this so-called 'digital gold', I can't think of a better place to start than with The Bitcoin Standard. It gives you the 'why' of Bitcoin before you even think about the 'how'. Just one thing: you're going to need to order your own copy. I already gave mine away. KT Luxe
