If you have to ask, it's a subject to ponder wether or not you're ready. Hang around long enough though, and eventually the network becomes boringly dependable, self-custodial actions become habits, like grabbing keys on your way out the front door. It used to be 100% of what I SAVED went into bitcoin. Now it's 100% of what I MAKE and SAVE. I modify my spending behavior and consumption based on bitcoin's quote price.
If you have people you're responsible for, intend on buying a home in the short-term, or struggle to pay any bills, DO NOT put all of your money into bitcoin, because its volatility on this side of monetization will eventually put you in a precarious position.
If you are ready to make this move, make certain your security, self-custody, and hot wallet game is A+, and learn how to use DEX's to avoid all taxable events.
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Thank you, great answer, lots of things to consider. I'm not responsible for anyone else than myself, however I do not own anything else than a little bit of BTC. Some shitcoins (as some maxis would say lol) and some stocks. Definitely need to invest in real estate. I haven't done so because of interest rates being way too high, and I was holding on this to see if the housing market makes a correction, but I don't know if that's gonna happen though...
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Don't buy bitcoin. Is going to crash. Earn it.
LOL people in 2023 still ask this silly question? Nice more dats for me.
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Lmfao, BTC gonna crash? It's correcting, it might go downtown to 23k level, is that what you call a crash? Ha amazing! People in 2023 still think BTC is gonna "Crash" just because it makes a correction. Ay ay ay caramba! And if it "crashes" to 23k I WILL be buying more, because that's what I do, I buy the dip!
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The state have the "power" to remove your physical liberty if they think you break their rules, my main issue with 100% btc is that your need to live in a country where you can't go to prison if you "avoid" tax. So... can you pay for all your need in BTC in your country without inform or fill a lot of papers to the tax mas? If you are not in that place... I will think again.
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Hmm great point! Lotta things to consider, you are right
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This is new Space to me. the more you learn about #bitcoin the more you want to involve to this space.
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If you are young and single, sure. If you have a family or are looking to retire in the next 5-10 years, maybe no. I'm more bullish on Bitcoin than many but I'd say it only has a 50% chance of succeeding (which is a lot higher than any other option for SoV but it's still not a slam dunk by any means). Also there is the inheritance problem which is tough if you have dependents. I think you should only be all in if you have made peace with the possibility you might need to go down with the ship.
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Thank you for your thoughts on this. It catches my attention what you said about BTC only having a 50% chance of succeeding. Do you still think BTC will be banned or something? If so, please share your reasons. Thanks
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For the youtube video by Matthew Kratter:
Put 100% Into Bitcoin? | Bitcoin University 📺 #230142
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