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0 sats \ 6 replies \ @clr 4 Apr \ parent \ on: Bitcoin "Gold 2.0" My Ass. bitcoin
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).