Owning even a tiny amount of BTC is a great achievement \ stacker news ~bitcoin

Owning even a tiny amount of BTC is a great achievement

907 sats \ 7 comments \ @SpaceHodler 28 Mar 2023 bitcoin

The other day someone on r/Bitcoin said they had bought 2 BTC at $22k. He sounded like a "just orange pilled" guy who was going to hodl. Someone congratulated them on their achievement. Then someone else said "Come on, from 22k to 27k is not much of an achievement."

I responded, presenting my POV, but the dude dismissed it as arguing over semantics. I thought he'd completely missed the point, but engaging in further discussion seemed pointless. He'll get it one day, and my time is better spent talking to people who either get it already, or are close to getting it.

So here is my POV (which may be obvious to many if not most of you):

Owning 2 BTC is an achievement, because it means:

(1) You had $44k lying around, which most people don't (2) You researched Bitcoin, studied the technology, economy, money, the theory of value etc. to arrive at the conclusion that it's worth swapping those melting-ice-cube dollars for BTC - which most people are too lazy / brainwashed / blind / whatever to do (3) You were smart and bold enough to actually do it, which most people aren't

But even if you replace that with 0.1 or 0.01 BTC, it still holds true. Now, it may be that most people do have $220 lying around, invalidating (1), but (2) and (3) still apply. The achievement is not in how much your BTC has appreciated in the last couple of weeks since you bought it; it's in the very fact that you bought it with the intention to hodl. It may drop to $8k or whatever, but you're zen about it. Others will sell the dip, you're smart enough to hodl if not buy more.

Your actions and intentions show patience, diligence, curiosity, intelligence, character, principles, virtue, a desire to make the world a better place and faith that it's possible. That is your achievement.

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20 sats \ 0 replies \ @TheBTCManual 29 Mar 2023

I've had this same response from others, not that I tell them how much I have, i've given family members some bitcoin early on just to get them interested, (failed plan) but you know we live and learn

I agree with what you say, if you were able to spend less than you make and deploy that amount into savings i'd say your doing better than most of the world who either have no savings, tiny amounts or they're in the negative just servicing debt

I think people are confusing savings with investments and assets, and they cannot recognise a trend, if they did they wouldn't be so tired to the unit of account of their local currency. People would rather justify the mental gymnastics of going 10x leverage on a home and hoping for a postive equity return or refinancing that debt later than simply holding something and not thinking about it, the idea is to make money you need to give it to someone to manage or constantly be active

The way I see bitcoin is that it's cash, and it's the first time a purely cash portfolio outperforms investing, its strange sitting on your arse and doing nothing just letting this thing monetise and absorb your purchasing power as well as everyone who starts to realise what you realise

To me 2BTC is more than a lifetimes worth of bitcoin over a long enough time horizon if you can hold on to it

17 sats \ 0 replies \ @pillar 28 Mar 2023

I wholeheartedly agree with your thesis here. And holding on to it for years is an even greater achievement that validates your points #2 and #3 day after day.

It feels simple, but it isn't easy. Otherwise, everyone would have done it already.

When I sit surrounded by Bitcoiners, I know they are all just normal plebs with their lights and shadows, as all human beings. But the feeling that all of them are tough mofos who endure through bear markets without losing sleep and are fighting against the fiat system day after day makes me feel like I'm surrounded by heroes.

10 sats \ 0 replies \ @designsats 28 Mar 2023

I tell people:

Learn how it works
Learn how to secure it
Buy a little
Back to step 1 and repeat

0 sats \ 0 replies \ @xanny 31 Mar 2023

I agree, Anyone stacking sats is doing good whether they can afford 10 BTC or 0.01 BTC.

Pour one out for idiots like me who were smart enough to buy BTC in 2013 yet stupid enough to blow it all on the darknet without hodling a single sat.

I had over 5 BTC in my wallet for a couple grand.

Live and learn, you best believe I'm hodling now.

0 sats \ 0 replies \ @legxxi 28 Mar 2023

2 Bitcoins is a LOT of money, even in fiat terms. In some parts of this planet it's a life changing amount.

0 sats \ 0 replies \ @kenn_b 28 Mar 2023

Fully agree. I would add that if someone has 0.1 btc it should not make them feel inferior to the 100 btc holders. As you said, it is an achievement worth celebrating, so be proud and keep on stacking.

0 sats \ 0 replies \ @fuckyourpronouns 28 Mar 2023 freebie

While I think you mean well, I think you are giving way too much credit to schmo's out there just gambling fiat just to gamble fiat.

You state: (2) You researched Bitcoin, studied the technology, economy, money, the theory of value etc. to arrive at the conclusion that it's worth swapping those melting-ice-cube dollars for BTC - which most people are too lazy / brainwashed / blind / whatever to do -- I seriously doubt most people buying Bitcoin are doing it for its properties but due to volatility in the short term... specifically for the reasons you listed: they are lazy and brainwashed, and FOMO is powerful inducement to buy.

(3) You were smart and bold enough to actually do it, which most people aren't -- again, think majority are just gamblers looking for the next short-term win.

Maybe I'm being pessimistic to your optimism. The world needs more optimism. Keep doing what you're doing.