Some Gold Bugs I follow have outdated criticisms of Bitcoin like what happens if the internet goes down?
Internet is not likely to go down for long if at all. Too much depends on it.
Nodes are now in satellites based on non-internet comms and we cna keep up with the network this way.
Its more likely that govts will ban your Gold rather than disrupt the internet.
The internet is based on cables but hundreds of them making up the entire global network. Its unlikely that all of them are disrupted.
#bitcoin #btc #nostr #gold
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What if gov choked coinbase ?
FTX was mostrly crypto savvy people who lost money - coinbase is custodian for ETFs so it imapcts normies and thus politicians .. I think it is already too big to fail category .. except that there is no government bailout ... quite the opposite ... so bitcoin is lot risky asset compared to #gold .. you will need atleast fifty CB size exchanges operating globally to bring the risk factor down to level of gold .. even then ..
Of course - that shows up in the volatility .. #gold is most stable asset .. even after it was demoeytized ..
If you can take risk - #bitcoin is the best .... if your risk appetite is low ( retired folks like me :-) a part of portfolio has to be gold ... I suggest 30 30 30 in btc , GLD and VTI ... ten pecent cash or single bets like $MSTR
Last thing you can do is TIME the market .. it is lot better to go to Vegas :-) .. Particularly in case iof #botcoin because it is a global 24 by 7 asset .. there is absolutely no way to predict #btc .. all the folks with price charts and long term models have no clue IMHO
Plus life is better spent on #nostr ... just put yours money in braod assets and forget :-) have faith and fitness and family ..
yes timing the market was not what I was suggesting. very hard to do that. I was talking about Dollar Cost Averaging OUT od the market when its overheated. You can measure its overheatedness with a risk metric. You still wont get the top for most of the sells but you may capture 60% of it perhaps. If keeping on Gold in the meantime then you can keep some of the high point BTC makes and buy back in later in the 4 year cycle.
I think the 4 year cycle isn't going to change soon. Maybe in 10/20 years plus but for medium term its here to stay I think. Its based, as far as I can tell, on new govts spending as they come into power in fiat and increasing the debt load which again causes the market highs BTC experiences - and other assets.
:-) .. I am old school #Bogle investor .. 30 30 30 is a big shift for me from 60 40 and 4 % rule :-)
To be fair when I wrote that post about Gold I was more talking about Gold guys who own zero BTC. I get why someone might have some GLD and BTC and to have 0 BTC is crazy imo. So I do think you're playing it well!
imo - such people are living in past .. #bitcoin is the future of money .. it is by far the most ambitious technology ever .. compared to it online retail or social media or Evs are pigmies .. like all ambitious flights , bitcoin does come with enormous risk ... so ..one has to find their comfort zone ... I don't subscribe either to Maxi thinking or the opposite :-)
A balanced approach seems reasonable. Not that I did that lol. I'm younger so thought to go harder and reap the benefits of being early in BTC when it's potential is greater for wealth building.
Let your money work harder when you work yourself work hard .. keep on !