People tend to ignore bear markets and then buy high-volume tops. It is sad but that is what happens.
I’m going to emphasize “study bitcoin” to people this cycle. Not tell them to buy it. Not tell them to have fun staying poor. Just point out that it’s still here, yes it’s important, and yes you should take the time to understand it.
Replies (55)
Read Lyn Alden's book is a good advice?
Best take I’ve heard in a while
So grateful for your voice on this.
I think that message may help attract more folks that have vague misunderstandings about Bitcoin or associate it solely with the price obsessed crew
PS your book is a masterclass. I now recommend it to anyone who feels like the system is rigged against ordinary people.
Exactly this 👆
Absolutely great idea.
A wise approach in a world where FOMO often trumps rationale. Understanding before investing should be the mantra, not jumping in headfirst.
Stay humble, stack sats ⚡️
Talking about Broken Money?
One thing I found works well is to mention a real world case that's not about price speculation, but it still plays on people's greed.
"Oh, Bitcoin is the cheapest way to send money abroad, I'm saving 2% compared to transferwise and it's from bank account in one currency to another bank account in a different country in a different currency. Bitcoin rails are just so much cheaper than international wire transfers"
I agree
GM
It’s the right approach! Then buying some is a way to study it and is needed i think : learning how to self custody, using lightning etc
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#studybitcoin
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Study Bitcoin > Buy bitcoin
Very good point Lyn.
Yes, the time that we invest in learning about bitcoin is probably one of the greatest investments we will ever make.
Yes but faith precedes understanding. DCA alongside. Smash buy as conviction, knowledge goes up. My two Sats.
I tell people to "learn bitcoin", because some day they will need it
Imho this cycle isn't about getting rich anymore anyway.
For one halve of the world (the monetary poor) it's about keeping their value and having a substitute to their hyper devaluation.
For the other halve of the world (the spiritual and cultural poor) it is about their freedome and the last resort to hide when they come around with their idea of cbdc
This hat nothing to do anymore with the glitter and glamour times of Bitcoin
This is it's evolution
And I'm so gratefull
Lyn leaves the dirty work to the rest of us 😂
Privileged to have you on our side Lyn 👍
That's just market psychology Lyn. RD Wyckoff pointed this same thing out over 100 years ago when he developed the idea of the composite operator. The composite operator is a large trader who attracts the public to buy a stock in which they have already accumulated a sizeable line of shares.
The CO is all knowing and their number one goal is to the position in profit.
I will do exactly the same, as I’ve been doing the last 2 years btw.
Study
Study
Study
I say them first to study and understand FIAT money, than #bitcoin.
I want them to grasp the root problem, then they can maybe easily understand bitcoin and have their "Aha" moment, basically when they see the rabbit hole and starts to be interested in jumping in and digging more.. 🍀
Sadly, it will be unrealized…cuz as you know, there is always one-zoom theory throughout any times and any places…
Yes it's very true to get bitcoin education and "study bitcoin " you will know when to buy
Lyn, have you had the chance to check out WhyBitcoinOnly.com ? I think it'd be a tremendous resource in your orange-pilling endeavours, as it sectionalizes educational resources down to each specific mental obstacle pre-coiners tend to have.
You make several appearances across the website as well 🙂
#StudyBitcoin
👇
WhyBitcoinOnly.com
View quoted note →👀☝️ check this site out
@Lyn Alden, you'll get a ton of value out of it.
🍊💊 WhyBitcoinOnly.com
Here ya go Lynn. Used a cheap LED scroller app to make this and sometimes have it on my phone while riding shotgun with wifey.
Yes! It’s a great book.
I started buying at the last top and I couldn't wait for the bear market to come so that I could stack cheap sats!
I feel lucky to have grasped as many of the base concepts as quickly as I did!
DCA for life!
Study Bitcoin.
DCA.
Try spending some Sats with Bitcoin merchants/companies.
I couldn't agree with you more.
This is the way..
Also show how LN works, I saw some light bulbs instantly!
Love this Lyn 🌸
Good idea 👍
Lyn, new to Nostr, (and don't understand the apparent link between Nostr and Bitcoin yet), and I have some honest questions:
Firstly, why do all the Bitcoin people recommend for other people to buy Bitcoin? Makes it feel like a pyramid scheme or Amway or something. Am I supposed to believe this is from the goodness of people's hearts? Or is there some other reason?
Secondly, isn't Bitcoin highly privacy invasive? Like all your transactions are basically accessible by the powers that be? As opposed to Monero which is very privacy respectful.
The concept of dollar cost averaging is such an under appreciated investment technique. It works great for a long term appreciating but volatile asset like bitcoin.
Yes. Have you read it?
I bought bitcoin at 49k right before crypto winter lol
Naah, that sound more like some Andy Tate quote. 😂
Best information I paid attention to.
solid advice, going to do the same
You have to buy a little in order to study it IMO. Otherwise, you won’t be motivated to do the work.
"Study Bitcoin" is a progression from "HFSP". I'm glad for everyone who stays in the field posting. Grateful to you, grateful to
@Peter Todd. Wondering what Greg Maxwell's npub is.
There is a point of getting skin in the game though. It forces you to learn more, or at least it brings an incentive to do so.
