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0 sats \ 23 replies \ @Fabs OP 3 Apr \ parent \ on: Bitcoin "Gold 2.0" My Ass. bitcoin
I will.
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Come back from what? I'm not selling everything, but a decent chunk and move on, as I fully expect the world to degenerate into a circus in the coming years - I'll cash out enough to hopefully ride it out, and see what's left after that.
Ain't no way I'm going through that shit-show as well.
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And honestly? I'm simply disappointed in Bitcoin, or maybe not Bitcoin per se, but I've been shouting for years that BTC = Gold 2.0 but better yada yada, and now that it's time to prove itself, it's shitting itself.
I'm tired of "Oh but the people don't get it" well how's that gonna help? If they don't get it after 15+ years of constantly new ATH's and the recent adoption / credibility boost from big institutions et cetera, then they'll most likely never get it - what good is Gold 2.0 of it doesn't frickin' deliver?
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The creation of the Internet essentially created a whole new reality - the digital realm -, and the necessary infrastructure had to be created, build and improved before actual (global) usage could ensue.
Cars were something laid away for the rich and famous, just as horses are today - at least to some extent.
Planes, well, I imagine another thing one needed money for to use? Vacation inside one's country was pretty much standard pre 1960, ain't it?
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And what did Bitcoin do? Exclude the middle men from transactions.
True, infrastructure can be improved (TPS, usage of wallets, Lightning et cetera), but it's already amazingly accessible both monetarily (don't have to buy full coins) as well as technically (lightning wallets like WOS, and hardware wallets making self custody a breeze).
There are loads and loads of info about anything and everything online, big names and individuals are into it and yet nobody seems to care- or even want it.
HFSP.
Bitcoin is not going away.
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Of course I've thought about that. It's like selling your place in the lifeboat to try to buy it later at a "lower" price. Or like collecting cents in front of a steamroller.
I know someone who mortgaged their house to buy bitcoin, panicked and sold everything during the covid crash, had to pay capital gains tax and then bought again at more than 2x the price. Hope it serves as a cautionary tale.
I also know several people who had been "trading" and admitted that had they just held, they would have come out the same or better and with much less stress. Time in the market is more important than timing the market.
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Yes, it has acted as a lifeboat. Yes, it's volatile. Just look at how the life raft bounces up and down with the waves and compare it with the "stability" of the sinking ship. And in the lifeboat there is no heating, no light, no roof, no drinks and no orchestra. The purpose of the lifeboat is to save lives, not to be comfortable. Comfort will come in due course (UX is improving, LN is becoming more reliable and volatility is decreasing).
The euro is very comfortable. The comfort of the boiling frogs. But any politician or bureaucrat can take away your comforts with a keystroke if they don't like you or fall out of favor or whatever. If you don't have a place in the lifeboat, you will have to jump straight into the freezing water (or stay put and listen to the orchestra until the end, while you pretend that everything is fine).
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