re: Official CryptoTalk Thread

We did it boys

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rocket31

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Let's all raise one in honor of Satoshi.

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rocket31

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Glad you’re not dead.

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I dabbled in bitcoin and ether for several years never thinking it was anything relevant it was just something I played with in Robinhood. I saw the light in June of this year and have been absolutely obsessed with accumulating as much as possible ever since. I ran out of dry powder about a week before the election. Very lucky timing.

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It takes work to understand Bitcoin. I'm curious what you did to "see the light"?

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I'm curious what you did to "see the light"?

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the price went up

kinda kidding but not really. It’s getting bought because it’s appreciating. I’m a smart guy and I have zero understanding of any of this, it does not compute for me and the Byzantine manner in which it is traded and stored is just too much hassle for me to attempt to master. Too complicated

hope all of y’all retire to a yacht in the Mediterranean though!

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It takes work to understand Bitcoin. I'm curious what you did to "see the light"?

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I was in a VERY frustrating place in my career. Within about a month, my boss and every person with a lateral position was terminated and I was forced to terminate my only direct report. I was seeing deflation in my industry and massive inflation in the real world. I couldn’t reconcile it.

Anyways, I got curious for what my next move was and started flipping over rocks. I already actually owned some GBTC that I had rolled into IBIT when the ETF the first day that the ETF went live. Being a student of financial markets, the ETF approval was a big green light that I was “trading”. I knew the “ETFication” of things was a huge deal, particularly for an asset class like bitcoin that was so unapproachable.

So I looked into that investment and said “I need to learn more about Bitcoin. All I know is it’s a limited supply and I LOVE that but don’t know much else”. Then I discovered the power law chart which floored me. The correlation coefficient was staggering and I was surprised that it wasn’t a bigger part of the bitcoin narrative. Then I started listening to Saylor and you can guess the rest. The understanding of MSTR’s flywheel effect and how it would bring bitcoin to corporate America was the last gasoline poured on the fire.

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Understand what you own

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easier said than done. How many people do you think that own AMZN understand what AWS actually does and how it is about to take over the data storage and distribution world…forever?

Totally true. For me, Im young enough to have a general above avg tech understanding to at least take something like what you said and research it more and keep an eye on how to take advantage of it. Though probably once I get a better grasp of BTC and all it's Remoras.