haha, yes i know it should be 100% :)
but...
- Average Joe usually has a natural tendency to gambling and fighting it is like tilting at windmills
- Average Joe usually has an aversion to orthodoxy, so surprisingly softening the image of the orthodox Bitcoin Maxi may be much more effective strategy than the full orthodox mode
Bitcoin dominance is 47% right now - just imagine how beautiful is the world when is back at 80%...
The arguments that can be given to a nocoiner or a shitcoiner to increase its proportion of BTC in the wallet will not be limited to 80%.
It's become a meme but why own inferior assets when you know what's the best.
They have to realize that diversification is a SCAM that makes you sell the best for have the less good
As Saylor says: there is no second best.
BTW, I don't think that 80% of BTC.D will unlock the hyperbitcoinization cycle.
This will occur with nocoiners, probably searching for escape, which implies a bad socio-economic context.
Maybe the CBDC, or new unpopular tax.
I think we need to distinguish two different ideas here.
Yes, absolutely, "diversification" is a scam. This is the idea that you should always hold a variety of different coins, mid- to long-term, to mitigate the risk of one against the not-100%-correlated risks of others. Bad idea to hold shitcoins in your portfolio for 3, 4 years, by and large.
I think the post was getting at something else entirely. First off, putting 20% in shitcoins doesn't mean you think their risk mitigates that of bitcoin. (There is nothing with less long term risk that bitcoin here). But there are loads of normies out there who will "diversify" into shitcoins, shoot up some by 100, 500, 2000 % before the rugpull. Argument one would be: let those normies pay for my bitcoin.
Of course, this makes you a gambler.
Argument two, and I think this is what he's getting at: the normies need not be normies forever. They'll come to the space, think like stock market normies, diversify, hold 10 coins for a while and realize that bitcoin might crash, but comes back, while the rugpull shitcoins rarely come back. So they'll be burnt to understand where the value is here. That might happen, but it needs a few years. In only half a year, they might experience a 50% crash in everything and say, all of this is a scam,, I'll leave it. The media certainly tries to encourage this reading.
Difficult, though: you can't expect normies to understand it right away. As they say, you have to pick people up where they are, and everyone's living in fiatland. That bus is slow.
this is exactly our situation, but few understand
please add part of 1k sat I have tipped you to the top article, to promote it...
yes, this 80/20 golden rule - is the instruction how to deal with nocoiners...
that's the best way in my opinion to speed-up moving nocoiners to the right, in this very true chart:
https://pbs.twimg.com/media/FkBcwk7WAAQ8fNd?format=jpg&name=medium
the problem is that nocoiners tends to start from inferior assets...
P.S. it looks like there is less boosted posts, i.e. less this type of contribution to SN users, since Bitcoin price is +100% ;)
I mean, if you have a propensity for stupidity, sure.