If you buy bitcoin today, you will be lucky in 10 years Why are you not putting all of your life savings into bitcoin today so you can be lucky in 10 years????
Because I learnt my leswson by buying T! Ack!!!!! I'll be left in the dust with diversification, most likely, but at least I'll have some crumbs? And stop shouting. Ow.
I wasn't shouting, but I should have, the message is very very important IN 2013, I WAS DEEP IN DEBT, OVER $30,000 IN CREDIT CARDS, SOMETIMES I WAS LATE IN MY RENT, SOMETIMES I WAS LATE IN CREDIT CARD PAYMENTS, SOMETIMES I WAS LATE IN CAR PAYMENTS AT TIMES I HAD TO USE PAYDAY LOANS, AND EVERY SINGLE TIME, I HAD TO USE THE BANK ADVANCE $500 (IF YOU KNOW YOU KNOW) I HAD NO LIFE SAVINGS, I WAS NEGATIVE NET WORTH BUT I STILL FOUND ENOUGH CREDIT AVAILABLE IN MY CREDIT CARDS TO BORROW ABOUT $7,000 TO BUY BITCOINS SO EXCUSE ME IF I TELL YOU I DID NOT GET FUCKING LUCKY DON'T HAVE EXCUSES, SELL EVERYTHING YOU HAVE, BORROW AS MUCH AS YOU ARE ABLE TO, AND PUT THEM ALL INTO BITCOIN AND WAIT 10 YEARS STUDY BITCOIN AND HAVE CONVICTION and my message to you in 10 years is that you're very much welcome
I'm not sure who you are replying to since I must have them on ignore, but I just saw a podcast with Preston Psych, and he felt very confident in saying you should only need to put 1 to 2% of whatever money you want to preserve on the other side of this, and "this" of course means the fiat collapse. So if you have 100k to preserve, put 1 to 2k into bitcoin. So I think for those people who are worried, and its natural, they can easily do this and sleep better. Then as they learn more, they can gradually increase. Its actually crazy to think what happens to price if every American put in just 1%, and with ETFs, this is so easy to do.
Overnight When someone says you got lucky for buying bitcoin 10 years prior, that takes away all of the hardships and difficulties that had to be endured Going through a multi-year bear market in bitcoin/cryptos will test your soul and the worst one for me was 2018, not 2014 or 2022 The 2014 multi-year bear market, was painful, losing $50k at top valuation, but I could accept it, and just focused more of my time on my day job The 2018 bear market was the most difficult achieving and losing the holy-grail 7 figure valuation The 2022 bear market was the easiest, You've gone through your first bear market and hopefully not your last, you've experienced the mocking, the ridicule, the fud, making you question everything, doubt it will ever come back up, you've even said yourself that we will never experience the same bull market as in the past... Many of us think the 2021 bull market was an anomaly, we got cheated, this next one will prove it ---------- Preston was being conservative "for most people that have a lot of wealth already", but then if you truly understand Bitcoin, like Ricardo Salinas, Michael Saylor, or Bill Miller (father and son), you say fuck that Bitcoin is the least riskiest investment asset, you either know it, or not yet and you need to study more
I'm not trying to "take away" any of your pain on this investment...What I am saying is, I don't think that when you started in the thing, you knew that it would ever get to a certain level, like 100K, 1 million, or even 1K. You got lucky it has reached the level it has reached, because it has no basis to reach any arbitrary level. With that said, john, I need your blockchain analysis head here... ------------------------------------------ I come to you to ask this, because you are well-versed in BTC and the blockchain tech. Everyone on the BTC bandwagon says it is so much better than fiat, because of the finite supply of the thing. Only 21,000,000 BTC can ever be had due to the formula. BTC is divided into satoshis, its own "cents". And since each BTC represents (weirdly) 100,000,000 sats, there can only ever be 2,100,000,000,000,000 sats. So here is my question to you, johnarb...Could the blockchain technology underlying the BTC ever be altered in some way to simply add a decimal point? Could BTC be diluted, through lines of code, or some forking, or new spec, that sticks to the old spec, that dilutes the original BTC?
2.1 Quadrillion satoshis When 1 bitcoin is $1M each, the sats are worth 1 US cent (100M satoshis per 1 bitcoin) I think it's possible to increase the number of decimal places without violating the current code base, if everyone agrees to the change, but there's no compelling reason for it, yet cutting something into smaller and smaller pieces does not increase the supply, think of a gold bar split into the number of atoms, or a pizza split into 8 billion pieces, does not feed the whole world
Bah, GOD DAMN it john, doesn't that remove the entire advantage BTC/blockchain had over fiat? The inability to inflate it? If you are saying that it is possible to keep moving that decimal point to the left, and keep dividing BTC more and more, then that is the same damned thing as the Fed printing more and more dollars. WTF! *sad*