Aside from a few exceptions, nobody is comfortable watching BTC drop by 40% to maybe exceed the price they bought it at. Sure Fiat is a non-measure, but everyone is still thinking that BTC in fiat buys them more things.
The goal we set ourselves is to reliably get in and out to accumulate more - balancing risk.
Too many deride those simply trying to live in a fiat world whilst trying to gain BTC and other great projects. I don't buy that BTC is the only solution but recognise its greatness. Am getting more onboard all the time.
In another world, most alts have done pathetically poorly - music to the ears of BTC maxis. Yet, some of these projects are good. Maybe they had legitimate reasons for diverging? ALTs failing hurts Bitcoin. Underneath the hood, there are those keen on blockchain not wanting to totally adopt the Bitcoin protocol, perhaps it is skills based or simply platform choice. To sit there as non-developers deriding those trying something different is stupidity at the highest level.
This post stays here as we really don't think most get it. If you have lots of BTC - well done to you. Expecting people to put their cash in when it potentially drops to 75%, that is wrong.
Replies (8)
You still don't get it yet
I get it completely. Yet there is this hoarder/hodl/apocalyptic mentality shrouding BTC and precious metals. Am just here saying people don't need to keep buying to get more. 🙏
That doesn't make any sense. Comparing bitcoin to precious metals is retarded because bitcoin is actually money, technically advanced scarce perfect money to be exact. Go ahead and not trade monopoly money for it, or get wrecked on some shitcoin; i don't care.
Interesting. Am not here to argue. The only point to make is that I never paid full value for the bitcoin I have. Not through fraud, illegal activities. So you are correct. Bitcoin is not precious metals. Am totally onboard with it. The difference between you and I is my recognition for some other projects alongside Bitcoin?
Those projects are 100% gay scams, yes that is true. They are irrelevant thanks to bitcoin.
You're definitely right that there are some terrible projects.
My main point is you can accumulate more coins by swing trading without using much cash.
Are you a software engineer? Not trying to use the appeal to authority fallacy on you. There are some great innovations with practical use cases, decentralised data shortage being one example.
Whether bitcoin should back it is debatable? Most of my crypto stake is off exchange and BTC. So am totally wanting BTC to succeed. Haven't touched it in years.
The precious metals points, agree on one thing. The inability for fort knox to be audited really brings it into question.
Sounds like gambling to me. Good luck. Stay humble stack sats is tried and true and what I'll always do.
Thank you. Am very careful not to boast, make promises. Am tired of scammers in crypto and finance in general. Totally get the bitcoin maxi mentality. Equally there is much I won't say because it is about each person making a choice. One question I ask myself. Would I buy a bitcoin with my cash? Not five years ago, today? Today, most are poorer than ever. This is the challenge am trying to solve.
Stay well.
