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re: If you are confused about the utility of Bitcoin, I want to share this with you.
Posted on 3/7/22 at 12:11 pm to whodatigahbait
Posted on 3/7/22 at 12:11 pm to whodatigahbait
quote:
Why do bitcoin apologists feel that they need to force their friends to "get it".
They confuse people choosing to invest elsewhere as "not getting it"
It's a cult.
Bitcoin down 25 percent YTD and 30k from its high.
Bitcoin could drop to 1k and they will still adore it and tell you that you "just don't get it".
It's amazing that it never occurs to them that maybe it's them that doesn't "get it".
This post was edited on 3/7/22 at 12:22 pm
3
Posted on 3/7/22 at 12:13 pm to whodatigahbait
quote:
bitcoin apologists
no one is apologizing for bitcoin.
Posted on 3/7/22 at 12:16 pm to Longhorn Lifer
quote:
They confuse people choosing to invest elsewhere as "not getting it"
I don't care about making others "get it", but when I hear opinions that are flat out wrong or poorly researched, I say something.
For example, this thread is about the utility of Bitcoin, but a guy responds with an issue specific to the Metamask wallet. That makes no sense.
Posted on 3/7/22 at 12:25 pm to Longhorn Lifer
quote:
Bitcoin down 25 percent YTD and 30k from its high.
Any buy/hold from a few years ago you'd still be at way higher returns than stocks or RE.
I do think the big money to be made is in other web3/defi plays now. but...those are shorter more hands on trades.
Posted on 3/7/22 at 12:47 pm to boogiewoogie1978
quote:
When it hits 10 I may buy
Looks like you'll never own Bitcoin.
Posted on 3/7/22 at 1:03 pm to Longhorn Lifer
quote:
Bitcoin could drop to 1k and they will still adore it and tell you that you "just don't get it".
frankly, once you know how the technology works and its value proposition; you don’t care what those who clearly haven’t done ten minutes of actual research into how the network functions think about the network or it’s intrinsic value. You tend to admire the technology, the elegant engineering and game theory behind it, and forecast what the network can do for humanity.
The adoption curve is trending positive, and as long as that remains true the value will come; and at present BTC presents an asymmetric upside compared to most other traditional investment vehicles and I’ll personally continue to dollar cost average into it in perpetuity.
This post was edited on 3/7/22 at 1:11 pm
Posted on 3/7/22 at 1:11 pm to Ross
quote:
frankly, once you know how the technology works and it’s value proposition; you don’t care what the ignorant masses think, you tend to admire the technology, the elegant engineering and game theory behind it, and what the network can do for humanity.
The adoption curve is trending positive, and as long as that remains true the value will come; and at present BTC presents an asymmetric upside compared to most other traditional investment vehicles and I’ll personally continue to dollar cost average into it in perpetuity.
I understand the technology.
I've worked in IT my entire life.
I also understand that it's down 25% ytd and approaching down 50 % from it's 52 week high.
You can adore it all the way down if that brings you pleasure, personally I adore profits.
Posted on 3/7/22 at 1:28 pm to Longhorn Lifer
quote:
I understand the technology. I've worked in IT my entire life.
wonderful, then it should be easy to conceptualize just how absurdly robust the network is considering the network is hovering around 190 exohash of SHA256 ASICS validating transactions for an internationally dispersed public ledger.
maybe we can talk about the efficiency gains these crypto rails provide over the existing ACH system or how it doesn’t require a trusted intermediary thanks to its protocols?
quote:
I also understand that it's down 25% ytd and approaching down 50 % from it's 52 week high. You can adore it all the way down if that brings you pleasure, personally I adore profits.
how many people can you find that bought BTC over its entire history and held it for four years and lost money? Pretty sure the number is zero. What asset has outperformed it in the last decade? The entire market is bleeding, you going on record as saying BTC won’t surpass 69k ever?
This post was edited on 3/7/22 at 1:32 pm
Posted on 3/7/22 at 1:31 pm to Longhorn Lifer
quote:
You can adore it all the way down if that brings you pleasure, personally I adore profits.
Me too. Drank the kool-aid and bought my first Bitcoins in 2017 at $2,200 using a credit card. Bought more in 2018, 2019, 2020 and 2021.
Posted on 3/7/22 at 1:31 pm to Ross
quote:
also the entire market is bleeding,
Wrong again.
You may want to broaden your horizons sonny.
Oil, Energy companies etc are at 52 week highs.
Have you checked the price of wheat today?
Even Berkshire Hathaway is barely off its all time high.
This post was edited on 3/7/22 at 3:09 pm
Posted on 3/7/22 at 1:32 pm to Longhorn Lifer
sick response buddy, bet your portfolio is just killing it versus the average BTC holder over the last decade
You might want to check the major indices recently. We are in a bearish trend across the board especially on perceived “risk-on” assets. But I obviously need not lecture you, you’ve got the God-tier portfolio and obviously could outperform a worthless asset like Bitcoin over a decade.
You might want to check the major indices recently. We are in a bearish trend across the board especially on perceived “risk-on” assets. But I obviously need not lecture you, you’ve got the God-tier portfolio and obviously could outperform a worthless asset like Bitcoin over a decade.
This post was edited on 3/7/22 at 1:42 pm
Posted on 3/7/22 at 1:43 pm to theRealJesseD
quote:you really dont get what metamask is. ITs just another company with a wallet.... there are plenty if other wallets to use.
except recent events have all but killed the whole 'decentralization utopia' thing, haven't they?
Posted on 3/7/22 at 1:48 pm to Ross
quote:
sick response buddy, bet your portfolio is just killing it versus the average BTC holder over the last decade
You need to learn when to sell and rotate.
You have lost nearly 50 percent on your Bitcoin in recent months while Energy and Commodities are going parabolic.
You can adore it all you want.
You can admire the technology.
You can say that you're losing your money for the sake of humanity.
I just care about making money.
Posted on 3/7/22 at 1:53 pm to Longhorn Lifer
now that’s a reasonable response, I appreciate that.
I classify myself as an investor and not a trader. If I don’t see myself holding something for ten years, I don’t hold it for ten minutes. I suck at timing markets and know this about myself, which is why I have a very simple thesis that I will DCA into S&P 500 index funds/ETFs( and other prominent index funds tracking the Russell, etc) and Bitcoin through various retirement accounts, brokerage accounts, and crypto exchanges. What you see as holding onto a position and it losing value, I see as the asset I am long on being on a discount.
I have a very small amount <$10k in a play account to swing trade and play single stocks with, and it’s how I learned I am a shite day trader
I classify myself as an investor and not a trader. If I don’t see myself holding something for ten years, I don’t hold it for ten minutes. I suck at timing markets and know this about myself, which is why I have a very simple thesis that I will DCA into S&P 500 index funds/ETFs( and other prominent index funds tracking the Russell, etc) and Bitcoin through various retirement accounts, brokerage accounts, and crypto exchanges. What you see as holding onto a position and it losing value, I see as the asset I am long on being on a discount.
I have a very small amount <$10k in a play account to swing trade and play single stocks with, and it’s how I learned I am a shite day trader
This post was edited on 3/7/22 at 2:01 pm
Posted on 3/7/22 at 3:01 pm to Longhorn Lifer
quote:You keep focusing on this like it means anything to bitcoiners. 99% of people investing in bitcoin aren't doing so for the short term gains. It is a long term hold.
I also understand that it's down 25% ytd and approaching down 50 % from it's 52 week high.
Posted on 3/7/22 at 3:05 pm to Ross
I read these threads and I realize 99% of people have no idea what they're doing
I used to think we were just early but I'm starting to think that most people are just incapable of understanding
I used to think we were just early but I'm starting to think that most people are just incapable of understanding
Posted on 3/7/22 at 3:05 pm to TigerTatorTots
quote:
You keep focusing on this like it means anything to bitcoiners. 99% of people investing in bitcoin aren't doing so for the short term gains. It is a long term hold
And if they sold near 67k they could buy back now and own almost twice as much bitcoin for the same amount of money.
Is that difficult to understand?
So if Bitcoin drops 90 percent are you going to pretend that you didn't screw up by not selling higher?
If I bought Berkshire Hathaway and it got cut in half I would be kicking myself for not selling higher and buying back cheaper, I wouldn't be spewing some self soothing nonsense pretending that I didn't screw up.
This post was edited on 3/7/22 at 3:16 pm
Posted on 3/7/22 at 3:15 pm to AMS
quote:
bitcoin apologists
no one is apologizing for bitcoin.
HAHAHAH this whole thread is bitcoin apologists......
Posted on 3/7/22 at 3:17 pm to whodatigahbait
quote:
HAHAHAH this whole thread is bitcoin apologists.....
Exactly
Posted on 3/7/22 at 3:21 pm to UltimaParadox
quote:
Of the thousands of crypto videos on YouTube, you decide to use the guy that has literally been caught committing fraud
Curious - Saylor or the other guy?
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