HoDLing Bitcoin and getting rich because of it is not luck. Luck is when you buy a lottery ticket for $2 and win millions. Luck is when your father is Jeff Bezos. Luck is when you inherit some lost uncle's fortune. Luck is when you happen to be outside when the building collapses. When you are a normal person, with a normal job, and you risk investing your savings (which took years of hard work to accumulate) in Bitcoin, and slowly build up your stash by adding to it whenever you can, and HoDLing strong through years-long bear periods, all because you believe in what Bitcoin stands for, and see how disruptive and revolutionary this thing is, and then it goes to the moon and you become "fuck you" rich, then, no, it's not luck! It's using your brain and your ability to see the future, not because of some supernatural ability, but by believing (or, even better, understanding) the tech and the mathematics & science involved. This is who you are, HoDLers: Edit: Corrected typos.The thing that really gets my goat (annoys me): being called "lucky" by the few friends of mine who know that I hold btc, the same friends who I told about btc years ago and who decided to invest.....nothing.
If they could understand (or even care to listen), they would learn that there is nothing lucky about sending most of your net worth to a random bank account in Japan (Mt. Gox) not knowing if you'll ever see it again, hodling through multi-year deep bear markets, watching your net worth collapse before your eyes, knowing that it could be years before recovery. That kind of hodling requires a strength of mind infrequently seen amongst contemporaries, coupled with an understanding of btc fundamentals and a realisation of its potential to disturb global finance.
So, if anyone calls you "lucky" for having bought bitcoin and profited, just smile, knowing inwardly that having come through the great bear markets means you're one of the most resilient of them all, and one of the most deserving. Btc rewards those who stay the course.
Congratulations fellow btc adventurers - our time is just beginning. And don't feel bad about taking a little profit here and there. You deserve it.
Fuck yeah!
In my lifetime, I have encountered essentially 3 types of people when it comes to investing. 1) People that will never invest in anything. These are your family members, friends, colleagues, etc. that whenever the topic of investing comes up, constantly moan about "Shudda bought Apple back in the day", "Shudda bought Microsoft 30 years ago", "Shudda bought Netflix back in the day", "Shudda bought Amazon", "Shudda bought Tesla", and on and on. They moan about missing this boat or that boat. They lack the conviction, the funds (savings), or both to actually research and invest in something. All the while, they continue to make themselves more poor by buying little useless trinkets, clothes, jewelry, alcohol, drugs, food at restaurants, lavish vacations, things for their car/house, etc. instead of actually investing. They nickel and dime their lives away. They barely have any savings at all. They will call any true hodler that got wealthy "lucky". 2) People that get the "investing bug", but are really just glorified day tarders. They put the minimal amount into a hot, trending stock or asset, and will hodl for all of about a month or two. Or mere weeks. Once the investment goes up 10-20% they sell everything, or if it goes down 5-10% they panic sell everything. Some will do this only once or twice, and with either a small profit or loss, will go back to normal life and declare that "investing is not for them". Others however will be gluttons for punishment, and will do this over and over, eventually losing everything. These people could be your family members or friends as well. 3) True investment hodlers. That would be us, the people you described above. This is a VERY small club. The people in it have balls of steel and bat for the moon. They will DCA in, buy every significant dip, and hodl for years and years. Your friends, family, colleagues, etc. are almost never in this club. |
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I am not alone in expecting BTC to attach a couple more zeroes in the next 5 years (say 10 for the skeptical). This can't happen one cornhodler at a time. There needs to be an easier onramp. There needs to be many more onramps, with larger audiences. This is a pretty good starting point. I'm betting that they are working toward full integration. With fees. Big ones. But that will inspire the competition that in turn brings fees into line. PP's operation is of no interest to me, and I'd advise anyone I know against it, but I am positive that they will have millions more people talking about bitcoin and taking part even if in a thrice removed derivative for now. Its a big deal. The table is tilted, and the balls are rolling, regardless of what tipped the table.
It's such a "big deal" to PayPal, that they don't even bother to advertise it on their homepage somewhere. The Bitcoin logo is no where to be found. They don't even bother to tell their 350M users that they've integrated crypto, right on their homepage. Riddle me that one. |
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This is interesting. This is likely very positive. I do not *think* they would be doing this if they were not bought into the ecosystem philosophically. In other words if Bitcoin is just a precursor to PalCoin that's one thing... and I do not doubt PalCoin is likely. I think this smells. They have known about Bitcoin and other crypto companies since 2012/2013. They could have bought any number of them then for cheap, and enabled crypto payments a long time ago. So why now? The likely culprit is that their profits are falling, and they're looking for another way to lock in users into their payment services platform. And also to scoop 0.5% on every crypto buy/sell. It is all greed driven, that is all. Absolutely nothing altruistic about it. Risk vs return. Public companies have to abide by strict rules. Without any regulations public company cannot invest in assets used by pornographers, terrorists, druggies. They have responsibility to their share holders, and they can't take the risk of investing millions only to find out a day later that FinCen declared any holding of BTC as illegal. It's preposterous to slam first companies when they start dipping their toes in the water. Good think is honey badger doesn't care about your silly purity tests. Grease the wheels and support companies taking the first risk. Reminder: Not just Honey Badger. It's those 3 other shitcoins that they have no business exposing their shareholders to, as well as to their users. Also, it's criminal they don't allow their users to actually hold and transfer the crypto that they are buying. If they allowed that, I wouldn't be so sour on PP, I'd be applauding them. |
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It's like witnessing a hard-left liberal just minutes after the red pill they just swallowed starting to take effect... the hypocrisy is real |
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Sorry but no, fk that Novogratz guy. a) He was calling for $10k way back in 2013. His calls/predictions are shit. b) He's been known to huff on Ether and other shitcoins c) Every time the MSM trots him out for bullish video interviews, it's typically at the peak of a bull run. Expect a crash soon after. |
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#JEneSUISpasmindrust
Other mind rust quotes
Poor guy. I still remember the "China bans bitcoin" crash of 2013 like it was yesterday. I was at the airport, watching the chart on my phone. It was all a nonstop sea of red straight down, and within an hour had falling well below my average buy in price. I felt sick, and certainly had many of these same thoughts. But I hodled on. Refused to panic sell. |
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This is interesting. This is likely very positive. I do not *think* they would be doing this if they were not bought into the ecosystem philosophically. In other words if Bitcoin is just a precursor to PalCoin that's one thing... and I do not doubt PalCoin is likely. I think this smells. They have known about Bitcoin and other crypto companies since 2012/2013. They could have bought any number of them then for cheap, and enabled crypto payments a long time ago. So why now? The likely culprit is that their profits are falling, and they're looking for another way to lock in users into their payment services platform. And also to scoop 0.5% on every crypto buy/sell. It is all greed driven, that is all. Absolutely nothing altruistic about it. |
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Unpopular opinion #1
Bitcoin will continue to pump until the election, then dump the day after.
Unpopular opinion #2
Bitcoin will pump until the second week of December, then dump.
Either way, I see a significant pull back before year end. Then the rise will continue in the new year. That's the bullish part.
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For all those saying that this will "increase btc adoption" and "grandmas will buy btc on PayPal", I'm glad you are documenting this. You are actually highlighting and showing how useless this extra step is, versus just buying stuff through PayPal with your CC or bank account directly.  I'm almost wondering if PayPal is even buying any crypto behind the scenes at all. It could all just be a database ledger entry into their cash reserves balance sheet. |
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Yeah but....it's bitcoin and also 3 other shitcoins that we all know are completely worthless.
Not quite what I meant: They could have sold paypalcoin or some BS like that which isn't backed by anything. LTC is a little coin but at least it has a public mining community. Huffing ether... is, and I didn't see what the last one was. I believe it's BCash, the biggest and most worthless scam coin of them all. The *king* of shitcoins (well, next to BSV of course). i understand your judgement but I would like to mention eth, the DAO, erc-20, etc shitcoin enabler could be viewed as "king" Hmmm... maybe they should have a yearly contest, to see which one is crowned "King of the Shitcoins" each year? I'm sure it would be a tight vote. A few could win multiple years in a row. |
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Yeah but....it's bitcoin and also 3 other shitcoins that we all know are completely worthless.
Not quite what I meant: They could have sold paypalcoin or some BS like that which isn't backed by anything. LTC is a little coin but at least it has a public mining community. Huffing ether... is, and I didn't see what the last one was. I believe it's BCash, the biggest and most worthless scam coin of them all. The *king* of shitcoins (well, next to BSV of course). |
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So an average of 1M+ employees per week since March lose their jobs, and you want to applaud some kind of a "recovery" when a mere 661K of them get their job back? Really? And you want to run to the hills knowing that people are getting their jobs back? Yes, I'm applauding and I can't think why a normal person shouldn't be happy about it unless its sole purpose in life is to see other people's lives going to hell. Yes, a mere 661k people, 661k people with families to feed are getting their jobs back, it could have been more, there needs to be more but the facts stand that the number of people who are employed is growing, the economy will also recover and all the doom and gloom lovers will have to retreat back to their caverns and start praying again for another calamity. 661K get their jobs that they lost back, only ~29 million more to go (to get their jobs back, not net new jobs created). By that point it'll be another 7-8 years from now, just before another "black swan" crash. And another massive layoff in the tens of millions.  Yay recovery. |
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Well, now that I'm back from a little happy walk it's time to think about this.
First, glad it's bitcoin and not a paypal shitcoin. A shitcoin would just be their little company scrip, which as we all know is worthless in real terms.
Yeah but....it's bitcoin and also 3 other shitcoins that we all know are completely worthless. sorry can't get excited about the Paypal corprotist shit sandwich getting served up for the masses.
you can't deposit your own btc, you can't withdraw your own btc, when you 'spend' btc from paypal the merchant doesn't receive btc ....
I mean wtf is it? It doesn't sound like btc ... it's just some joke token they are using in their internal spreadsheet for peeps who think they are in the btc market but are actually getting played by paypal.
the deception and surreptitious datarape by silicon valley continues, can't cheer this one on.
Finally found something I can agree with Marcus on. They will screw PayPal hodlers over just like the Robinhood traders get screwed over time and again. With unlimited fractional reserve and holding the real keys, PayPal will be scraping off the cream of trading profits from crypto users' crypto balances. Also by attracting bitcoin hodlers they will pool the btc and help the trading shorters do more damage. |
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~
I apologize for interfering with the dialogue, but it seems to me that we cannot hope for an increase in economic performance until we cope with the coronavirus pandemic. Why apologize, it's a discussion forum, people here discuss things and voice their opinion, no need to apologize if you enter a discussion, no need to apologize even if you have a different point of view and you think I'm totally wrong. That being said, the virus is one thing and the economy is another. Just because we're experiencing this it doesn't mean the economy will still plunge, after all the slump was caused by the forced shutdown, not by the virus, and if everything opens up tomorrow the economy will start recovering faster, of course..at the cost at more human lives. But at one point it's like going to war, you have to face some consequences no matter what your decision will be. And things are not that bad anymore: The number of new businesses in America is booming
Debt-fueled start up companies running purely in the red on cheap government-loaned, taxpayer debt is not "booming". It's crashing. It's a farce. So an average of 1M+ employees per week since March lose their jobs, and you want to applaud some kind of a "recovery" when a mere 661K of them get their job back? Really? |
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I did exactly that. I told no one, for fear of being thought insane. Even I thought I had gone a little crazy.
I have no regrets though, even when I was down 50% in the first few years. Worth it.
Was there a final clue or push that gave you the courage get up and do it, financially move to Bitcoinlandia? I just kind of knew that I was witnessing the birth of a legitimate new asset that Wall Street and the big Fund investors either still hadn't discovered yet, or were dismissing outright because they a) were clueless or b) couldn't game/control it. Most likely option b. I knew within just a few weeks of research that it would become a game-changer asset, literally a digital form of Gold 2.0. And I also knew about first-mover advantage and immaculate conception, and that Bitcoin was way ahead of anything else mind share wise. Actually if you do enough true introspection/thinking, you realize that with Bitcoin there is literally zero need for any other cryptocurrencies to even exist. So getting in on the ground floor of something this big, I just had to go all in, or I knew that I would have major regrets. |
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OT: an Altcoin rant...
Some poop, called Filecoin, is trading (FIL, first day) at $70, which with 2bil max coins means a projected market cap of 140bil.
Color me skeptical. Decentralized storage? Who gives a flying f-k?
Wall street went heavily 'inside" on that ICO (only accredited investors were allowed to participate, which is against the overall psyche of the "crypto" space anyway), various Winkelevi, Consensus, etc etc.
I will wait until it trades on Coinbase, then maybe even short it (if I can find where).
same story as COMP, they jerk it up, then 60-80% decline, me thinks
the market cap that is showing on coinmarketcap is BS as there were 200mil tokens released even at ICO, not to mention 2bil total.
Bitcoin is largely unaffected, but considering that some s-t got 14-140bil valuation for "nothing" make me sad for the market.
A scam for now.
Outside of them having any merit at all (which I highly doubt), this story is the same story as all the IPOs: There is no immaculate conception. The wealthy insiders get millions of units first at pennies per share, while the average Joe public has to wait to participate after the price has 10,000X skyrocketed pre-launch. If you buy these shitcoins at all, even just to trade, you are only making the rich even richer. Don't. do. it. |
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Apparently, I am not able to add numbers up. This report appears to be too good to be true. Something really strange: I am explaining it here. Maybe someone of you can help me understand what I am missing. You're right to question their "fuzzy math", I can't see it either. Also they supposedly invest in a whole lot of various shitcoins as well. Grayscale’s single-asset investment products provide exposure to Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Horizen (ZEN), Litecoin (LTC), Stellar Lumens (XLM), XRP, and Zcash (ZEC). |
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