Stay Humble and Stack Sats
In this publication I want to tell you guys why I keep ending my publications with the phrase "Stay humble and stack sats". Bitcoiners live by this saying, it gives off a beam of clarity. I want to explain why it is so important and I will explain each part on its own. The phrase consists of two parts – two instructions if you will 1) to stay humble and 2) to always stack sats.
Always stay humble
Staying humble comes in many forms, the Bitcoin space is the Wild West and it is easy to loose your head both if you're new in the space or an OG. The Bitcoin space is often conflated with the crypto space because the crypto scene emerged from Bitcoin. The crypto people never seem to decide whether they want to leech onto Bitcoin or push Bitcoin under the Bus for personal gains. Anyways when dealing with the crypto space in general there exist several pitfalls that can have some really negative impact on you and your bitcoin stack. Many people fall victim to the short-term mindset of crypto and they end up trading, falling for scams or other spectacular ways in which they can loose their funds. I have already had my journey through the world of crypto scams, trading and all the other hazards. It is easy to loose your head in a world with fast gains but even faster losses. Trading might give you some short term gains but in the long run you will most likely loose your funds. Then there is "investing" in a random coin because you hope it will be the next Bitcoin and it will see a 100x price increase. Looking at the historical trends you would need to know exactly when to exit because basically all of the new emerging coins have definitely underperformed when compared to Bitcoin. Most of these coins are also just Ponzi schemes so you are bound to loose your money if you are not lucky enough to exactly time the market with a crystal ball. There are many ways how you can loose your money in the Bitcoin and crypto space. Not holding your own keys is also another great way to loose your funds through outright scams. Therefore, it is important to be humble, focus on your long term goals and don't loose sight of what is important.
Always stack sats
Stacking sats is an expression which means accumulating more Bitcoin. This could be through work, mining our directly purchasing Bitcoin with fiat. A sat stands for "Satoshi" which is the smallest denomination of a bitcoin and an homage to the founder of Bitcoin – Satoshi Nakamoto. One bitcoin consists of 100,000,000 satoshis.
Bitcoin has the potential to change your life in the long-term. Through the constant debasement of fiat money it is almost (nothing is certain in life) guaranteed that Bitcoin will continue increasing in price compared to fiat. Bitcoin knows no top because fiat knows no bottom. Once you see the bigger picture and understand that Bitcoin will most likely become the money of the world you will accordingly change your savings strategy. Saving in Bitcoin will become the most rational course of action. To outsiders, who only see the price volatility, it may make no sense to save in such an asset. After you've reached the point that you perceive Bitcoin as the most stable asset in a volatile world, it will make sense to save in Bitcoin aka to stack sats.
Conclusion
Staying humble and stacking sats is a saying that Bitcoiners use to remind themselves to never loose focus of the long term goals and to keep saving in the best money that they know. Doing that is not easy, you must avoid taking unnecessary risks with your bitcoin – like lending – and keep a level minded head. The reward will be financial sovereignty. A free addon is bit of hope to change the world for the better because you cannot have a functioning world with a broken money. Bitcoin promises to be a better money without the distortions which lead to a large number of the inequalities that we can observe in our current times.
On this note let me close as always. Stay humble and stack sats.
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