It is dumb strategy. Eventually something new and revolutionary will come along and bitcoin will be very old hat. It is already 13 year old technology and getting on in years. The next generation of kids wont be buying current Crypto. They will consider prehistoric shitcoins like BTC and ETH as something their ancient parents bought.
Please, understand some basics about ETH first before calling something old that's currently vanguard. Since inception, it's been undergoing upgrades and is the backbone of DeFi. Every day the dev team is has been working on further improvements and I assume you've been living under a rock, as the merge is still going forward. Next major milestone once that is complete is sharding. You are effectively telling us that we should have never been buying a Benz, because it's an oldschool auto-company and something that only our great-grandparents should have bought. I am happy to look at valid bear criticism regarding cryptos, but so far this forum is getting filled with desperate attempts that don't even make any sense. Come on, this is as bad as the perma-bulls trying to tell you why safe-moon was a safe investment.
Yup Stupid morons do not understand the concept of price anchoring and are stuck with hindsight price analysis which is always perfect Bezos parents bought AMZN for less than $1 and probably never sold at over (before the split) $3500, imagine how much "they lost"? How about how much they made??!! Peter Thiel probably bought PayPal at 10 cents pre-IPO and still hold some of those shares, but did not sell at over $300, the idiots who are Monday quarterbacks on price would say Thiel lost so much money Zuckerberg lost billions of $ because he did not sell when FB was over $380, yup, according to the same people above
This is a good analogy. Old school car companies stock prices stagnant while TSLA comes out of nowhere and revolutionises the industry in just a few years and hits one Trillion market cap.
We have different approaches. I believe in compounding gains and protecting the capital I have. It's easy to build wealth in a bull market but difficult to watch it evaporate in a bear market. The problem I see with long term investing is that there is no risk control. If you are wrong you not only lose capital but also the opportunity to employ that capital. Not to mention the emotional capital it drains. Buying an asset with the intension of holding it for a set time period is giving the resonsibility of managing your capital over to the market. Watching a drawdown uses up emotional capital. Every step down takes you further away from your goals. Then you get stuborn and refuse to sell. This affects your decision on your next investment as you don't want to lose any gains so you will most likely take profits way to quickly. I guess it depends on your reason for putting your money to work. Mine is to fund my lifestyle and increase my liquid net worth. Hey I'm speaking from experience. I've been through all that. Just take a look at what you're doing and consider for a moment, what if that old fart is right.
"Investors are the big gamblers. They make a bet, stay with it, and if it goes the wrong way, they lose it all"
How long have they been printing money? I mean sure, it gets new colors every now and then, maybe some security enchancements, and many countries have the fancy plastic bills now vs paper. But jesus, printing currency is a technology from centuries ago! LOL