10 sats \ 4 replies \ @OT 24 Jul \ on: Diamond hands model is broken FiresidePhilosophy
I think hodling is still a worthy cause. Of course its good to support businesses that provide a good product or service with a purchase in precious sats. However, if you live in an area will little to no businesses accepting bitcoin its better to hodl until they do.
As for the kids I can pretty much agree. I still think they should save a portion of their income/pocket money in bitcoin. Maybe no less than 10% (Check out The Richest Man in Babylon). As Bitcoin becomes less volatile it should start making more sense to use it as a medium of exchange.
its better to hodl until they do. Isn't it a chicken or an egg problem here? I think it comes from your needs, if you put this aside and hold forever - you can pass it to your grandkids, but if you save to buy something - you can't really wait for them to accept it
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no less than 10%
I just told my 40 year old son that "tithing" 10 percent of his income in Bitcoin would be a good idea for a retirement plan. He has never saved anything for retirement and his Social Security probably won't amount to much. I told him 401K was gambling but Bitcoin is gambling on a sure thing that you can own and keep no matter what happens.
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"tithing" Interesting choice of words, so Bitcoin is a religion after all=) But jokes aside, retirement and social security are going to shit, for example Germany recently calculated that the retirement payment in Germany is between 1200 EUR and 1600 EUR monthly. Inflation will it that in couple of years, Bitcoin is the only hope.
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