What does diversification in the context of Bitcoin mean to you? \ stacker news ~AskSN

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What does diversification in the context of Bitcoin mean to you?

447 sats \ 15 comments \ @cryotosensei 12 Feb AskSN

Diversification conventionally spreading your investments across different asset classes at varying levels of risks with focuses on different sectors or countries.

Now, diversification has taken on a different meaning for Bitcoiners now that they have gone all in on this one asset. So, diversification will refer to using multiple wallets in multiple locations that boast multiple good UTXOs?

What is your BTC diversification strategy?

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45 sats \ 6 replies \ @denlillaapan 12 Feb

Pretty much, yeah. Definitely the wallets, spread around tech/wrench-attack risk

I also think my fiat/mandatory pension savings constitute some form or diversification or at least hedge; to the extent I'm wrong or this doesn't work, I'll be OK

39 sats \ 4 replies \ @Aardvark 12 Feb

Yea, I still have a 401k too. It's not a terrible idea to have.

36 sats \ 3 replies \ @cryotosensei OP 12 Feb

Do you buy BTC ETF for your 401k? Haha

21 sats \ 1 reply \ @denlillaapan 12 Feb

would defeat the purpose in this case.

Not a bad idea in general, to supercharge your locked/captive savings but to diversify if most of your net wealth is already in bitcoin -- nahnah

0 sats \ 0 replies \ @Aardvark 12 Feb

I'd probably put a little in if my company offered it especially if I voud do a roth 401k

0 sats \ 0 replies \ @Aardvark 12 Feb

I would if my company offered it 😁

15 sats \ 0 replies \ @cryotosensei OP 12 Feb

Wah I think you have manoeuvred yourself into a privileged position - that the pension is just a good-to-have and not a must-have

24 sats \ 1 reply \ @LibertasBR 12 Feb

Your understanding is more focused on the security of not putting all your eggs in one basket if you are robbed. Asset diversification uses the same analogy for the volatility of the fiat value system and not the Friday robbery. That said, I believe so, distributing your Bitcoins across several portfolios is our way of "diversifying".

0 sats \ 0 replies \ @cryotosensei OP 12 Feb

I noticed the plural for BitcoinS. Impressive. 👏

24 sats \ 1 reply \ @DarthCoin 12 Feb

diversification will refer to using multiple wallets in multiple locations that boast multiple good UTXOs?

Yes, that.

21 sats \ 0 replies \ @cryotosensei OP 12 Feb

I think I got this interpretation from one of your guides

24 sats \ 3 replies \ @Aardvark 12 Feb

I'll let you know when I get enough for it to matter 🤣

21 sats \ 2 replies \ @cryotosensei OP 12 Feb

Stop buying junk food 😡

24 sats \ 1 reply \ @Aardvark 12 Feb

😁 I'm trying, but cake is so good!

21 sats \ 0 replies \ @cryotosensei OP 12 Feb

I never say nope to tiramisu