Jackson recently turned one. That means, he is now out of the newborn stage and onto toddler-hood. It’s hard wrap my head around the fact that the tiny baby we brought home from the hospital a year ago is now a non-stop ball of energy climbing and crawling all over the apartment!

But yet, here we are.

Before I became a dad, I had a very naive perspective what it meant to be a parent. And of course, why wouldn’t I?

From the outside looking in, parenting seemed like a combination of playing at the park, taking pictures (and posting them on social media), reading books together, and generally, having fun. Sure, I had a vague notion of sleepless nights. But, I did not have a real understanding of everything else that comes with the territory.

As a newborn, I quickly learned about the sleepless nights. And yet, I still had no idea what lay ahead. As an example, I vividly remember nights when Jackson would wake up crying around 3am. No matter how much singing and rocking or shushing I did, he just would not go back to sleep. And in those moments of desperation, I naively thought, “I can’t wait until he gets out of newborn phase…I won’t have to worry as much”.

Well, now, he is one…and guess what…that worrying has not gone away.

The truth is, even though he is one now, there are still nights when something is going on (ie. he is sick, going through a regression, etc) and he needs help at 3am.

Actually, if I think about it, there are more things I worry about now compared to when Jackson was a newborn.

Here are just a few of the many things I now worry about:

• whether his development (ie. crawling, talking, walking) is on track
• whether he is eating enough, and eating the right mix of nutrients
• whether he is hot / cold / dressed appropriately
• how many poops he has had, and whether that is too many poops in a day
• how to deal with his diaper rash
• how much sleep he is getting
• when he gets too close to the edge of the bed / sofa / coffee table and might fall off

The list of worries goes on and on…

But yet, even with all the worrying I do (and now know I will continue to do in the future), I wouldn’t trade it for the world. Being a dad is the most gratifying thing I have done. And seeing Jackson grow up each day fills me with joy.

Enough gushing though…

I’m sure you are wondering, what does this have to do with bitcoin?

I want to share what my experience has been like to actually HODL bitcoin. And as you might have guessed, there is a parallel to what parenting seems like from the outside vs. what it’s actually like from the inside.

What it’s like to HODL bitcoin

To set the context, I don’t day trade bitcoin. Instead, I buy it and hold it for the long term (10+ years). That’s because I believe it will be worth significantly more than it is today.

With that said, the price of bitcoin has been all over the place recently. Back in November, it rocketed up all the way up to $69,000. And just last week, it fell all the way down to $33,000. That is over a 50% drawdown!

So what is it really like? Well first, let me tell you what most people think it is like.

When I talk to friends about bitcoin, inevitably, they’ll ask when I got in. And when I tell them I first bought around $500, I see this look in their eyes.

This is what they think my experience must be:

• get lucky and buy at $500
• continue living life without worrying about bitcoin price
• <x years passes by>
• profit!

This picture perfectly sums it up:

However, this outside perspective is naive and couldn’t be further from the truth. If anything, it’s similar to the naive perspective I had about what it meant to be a parent before Jackson was born.

Here is how it actually feels.

When the price of bitcoin is rocketing up to the moon, from the outside, it’s easy to think, “if that were me, I wouldn’t sell it. I would have discipline to watch it continue to go up”. But the truth is, while it is happening, there is an incredible pressure to sell and realize some gains. Gains that can be used to pay off debts, to buy something nice that you’ve been saving up for, or to use as down payment for a house.

And on the flip side, when the price is tanking, from the outside, everyone naively thinks, “I would have the discipline to ride it out and not sell”. But, when the price of bitcoin goes into a free fall, there is also an incredible pressure to cave in and sell from all the FUD (fear, uncertainty, doubt). That’s because it feels like the things you started daydreaming you would buy with your gains have “disappeared”, or worse, the security of your family’s financial future is in jeopardy.

If anything, this is much more the reality:

When I become a parent, I had a series of “ah ha” moments about what it’s actually like. And similar to parenting, as I HODL bitcoin, I also continue to have “ah ha” moments about what it takes to hold on through all the ups and downs.

Yes, it can be brutal at times. And euphoric at other times. And there is a lot of worrying and stress. And sleepless nights wondering if you are making the right financial decision for your family’s future.

But yet, as I zoom out and think back to all the FUD I’ve overcome, and all the times when I could have sold and realized gains, I’m glad I didn’t.

Why am I sharing this?

Personally, I believe bitcoin has at least a 100x upside from where it is right now.

But at the same time, I can guarantee that it will not get there is a smooth / orderly way. There is a saying that “the market moves along the path of maximum pain”. And that is very true for bitcoin! Especially right now.

So if / when you plan to buy bitcoin, get ready for a wild rollercoaster ride. But, whatever you do, don’t panic sell. Hold on for dear life!