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Hilariously biased reporting on "cryptocurrencies" on MSM today, around the SBF sentencing. The usual, predictable, diatribe about Bitcoin - "Wild West, unregulated, risky, evasive, Ponzi, boom and bust, you could lose everything" - ad infinitum.
Predictable but the lack of balanced reporting is still mildly annoying. If only they would do a deep dive into the Fed, the Bank of England, Wall Street etc. But no, that just wouldn't do, would it?
"It is perhaps well enough that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." (Henry Ford (maybe))
Except that the replacement of fiat with Bitcoin is the revolution. We'll get there eventually. Time is on our side.
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Investing in bitcoin is also gambling.
Investing in bitcoin is the opposite of gambling |
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For one, this thread is about bitcoin and not shitcoins, and secondly, DCA does not work with shitcoins because they are not long term investments that have any fundamental and/or long term value.
DCA tends to apply quite well for bitcoin and/or long term investments bacuase it allows you to build your position over many years 4-10 years or longer. Shit coins are equivalent to gambling and gambling is for losers. One can invest few bucks in shitcoins for fun but real focus and most of your capital should be going to Bitcoin alone. One thing to note about DCA is that it's not for people with low patience as it takes years to build a profitable portfolio with DCA. So anyone coming to DCA should keep in mind that it will takes years not months. Of course, if you are still in your accumulation stage, you can supplement your accumulation with buying on dips and also lump sum investing, and so only you can figure out which accumulation methods to apply and when you might consider yourself to no longer be in accumulation stage... and yeah, a lot of newbies might have chances to build their investment into bitcoin over 4-10 years or longer, and they likely end up selling too much too soon and then likely putting themselves into a worse place than if they had just focused on accumulating through the varying buying techniques rather than selling, trading and/or gambling with their investment.. in such a great and powerful (and option providing) asset, such as bitcoin.
We can relate with this with current bull run where people are selling too early. It's not a success that you buy at 60k and sell on 70k since this will give you only a limited profit. One must have a plan where he must gather bitcoins before he start thinking to sell some of his holdings. How many Bitcoins are sufficent is a subjective question. So some people 100 Bitcoins are low while for many getting even 1 bitcoin is difficult. I find the question of when (if?) to sell any corn a bit more nuanced than just trying to time the best profit in $. If you believe that BTC is going to become the world's best store of value (or already is); and that BTC will replace the $ as the world's dominant/reserve currency, then you don't want to end up with bags of fiat. Then the question becomes how many BTC are you willing to sell before that happens, so that you reach a reasonable compromise between enjoying the present and facilitating a more comfortable/enjoyable lifestyle, and keeping your BTC for the time when you won't need to sell it for fiat because it has usurped fiat in all use cases (store of value, medium of exchange and f**k you tool against state governments' corrupt financial system). The compromise is difficult to find because of the unknown timescale for when BTC will replace fiat. And the unknown timescale of when you will die. I mean, who wants to die with lots of unspent funds, the spending of which could have made your life better. You could leave it to your kids, but where's the fun in that? |
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Well that really was a fine sleep hodl. And a fine waking hodl. Bitcoin - the gift that keeps on giving (even if it was a gift to myself).
I'm also really loving seeing what Saylor is doing with MSTR and surely it's only a matter of time before others start to follow his playbook. Pioneering the route towards de-dollarization.
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What a great start to the day. Wake up to see a $71,500 ATH.
I have a feeling this week is going to be special. Happy hodling bros.
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Ok, that's enough of that nonsense. No more pasting of the already infamous post. My fingers are bleeding all over my trackpad.
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trying to figure out the inflation between Nov '21 and now.
All these calculators are totally bollocks ...2% a year or so...laughable.. someone knows an accurate calculator?
I was using this recently and it seemed ok to me, it appeared to use accurate annual price index data: https://www.inflationtool.comThanks! But I have the feeling that prices rose way more than 13% in the last 3 years... anyways we are rich again... just until the next bear market when we dump to 70k Oh yeah, that's a total can of worms. Govt. inflation stats are about as reliable as a testimony from Prince Andrew. Shadowstats is pretty interesting if you have the time to delve into it: http://www.shadowstats.com/alternate_data/inflation-charts |
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trying to figure out the inflation between Nov '21 and now.
All these calculators are totally bollocks ...2% a year or so...laughable.. someone knows an accurate calculator?
I was using this recently and it seemed ok to me, it appeared to use accurate annual price index data: https://www.inflationtool.comEDIT: Not particularly useful for part-years, however. |
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Have you got your gifs ready, Gentlemen?
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This hits the mark You watched #Bitcoin crash from $69K -> $15K and kept stacking. You ignored sarcastic remarks and sideways glances from family and friends. You watched as Bitcoin fell through the previous all time high for the first time as the crypto ponzis imploded.
It had never been so over.
In that moment everyone doubted you, but you knew what you owned. You trusted your own logic and decision making. And now you get to reap the rewards.
Remember this as we edge towards price discovery.
If you hodled, you didn't get lucky. You demonstrated sound decision making, courage, and conviction. And you did it in the face of pressure that would have caused most people to fold like a cheap lawn chair at a sumo convention.
Bitcoin tested you. And you proved that your hands, spirit, and mind are strong enough to deserve what's coming your way.
Stay strong and enjoy. https://x.com/stackhodler/status/1764581509887889667 |
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Going to bed tonight with the real possibility of waking up to a new ATH in the morning. It's a great time to be alive (and asleep).
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Does anyone care to explain or know how these ETF's work?
Do they hold indefinitely?
Do they sell at x y Z % profit?
Do they sell when the clients(boomers) say sell?
Or is the fund manager in control?
Do they actively trade too?
Thanks,
Yeah I am absolutely interested to know also please any explanation can go a long way I very long way They just buy forever and ever and ever until there's no more left to buy, and then they cry a lot, wishing they had bought more earlier. And we all live happily ever after. |
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I was just having a read through some of the recently released email history between Satoshi and Martii 'Sirius' Malmi. I only just became aware of these, so thought I'd share in case others had missed/are interested: https://twitter.com/pete_rizzo_/status/1761040089075888292One question I've always had is why he picked 21 million? Why not a round number, like 50m or 100m? And why is a Satoshi 100 millionth of a BTC and not a 10 millionth or a 1,000 millionth? Did he make assumptions about future value and therefore the minimum required 'value' of a satoshi relative to fiat? Curious. |
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Well this really is very Gentlemen. I guess this is what happens when massive demand hits finite supply in a head-on collision. I would normally start thinking that this is blowing up too quickly, but it does "feel different this time". Perhaps we're about to see the legendary God candle.
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A bit off topic, but I've just been watching a little wall on the Stamp getting eaten into. Happy days
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The great thing about Meditations is that he wrote the passages as his own personal musings, never with any intention of them being read by anyone other than himself. That makes his writings even more remarkable, imo. A main premise behind stoicism is not to worry about those things which are out of your control: "The chief task in life is simply this: to identify and separate matters so that I can say clearly to myself which are externals not under my control, and which have to do with the choices I actually control. Where then do I look for good and evil? Not to uncontrollable externals, but within myself to the choices that are my own..."[Epictetus] I reckon Marcus Aurelius would have chosen to be a bitcoin maxi and a hodler. |
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Sorry for the long c&p, but thought others might enjoy this. Gotta love his bullishness and I find myself mostly in (hopeful) agreement. This wouldn't just be Gentlemen, this would be Gentlemen on crack..... You really aren't bullish enough on #Bitcoin. All of your existing models for Bitcoin are based on data that is now completely obsolete. Where it goes from here is anyone's guess. Your favorite chart squigglers and quad four enthusiasts are relying on data from a period of time where a TINY fraction of global capital had access to Bitcoin.
Few people realize that everything has now changed. Historically, Bitcoin has never broken through the 0.618 fibonacci retracement level before the halving. Well, it just blew the doors right off that level.
Market timing geniuses are left sobbing into their rapidly devaluing sacks of fiat, desperately hoping for a pull-back. Let this be a warning. It's the first of many models to be destroyed now that BlackRock, Fidelity, etc. are laying on the bid 24/7. Rumor has it OTC desks have setup makeshift boiler rooms to speed dial whales and beg them for sub-$100K BTC. Meanwhile TRILLIONS in investment capital sits frozen on the sidelines, unable to move for the next 60 days.
Why, you ask?
Registered Investment Advisors have a 90+ day waiting period before they can allocate to new investment products. RIAs are watching Bitcoin run, twitching like greyhounds in the race traps, waiting to secure a position for their clients. We are likely going to see RIA inflows hit at the same time as the halving.
Meanwhile, MicroStrategy is rocketing even more than Bitcoin. It's up 63% in the past 3 months compared to 46% for BTC. But a MSTR pump is just a delayed Bitcoin pump. Saylor will soon be selling more MSTR shares and buying Bitcoin with the proceeds. But that's not all...
With this performance, there's a chance that MicroStrategy could end up in the S&P500. If that happens, MSTR will receive 10's of billions in passive flows from index investors. Much of which will ultimately flow into spot Bitcoin as Saylor continues his genius strategy.
Bottom line: Even the hardcore Vanguard Bogleheads will soon be stacking #Bitcoin by way of MicroStrategy.
Just one more thing that isn't priced in.
As all of this unfolds, it's important to keep in mind how the Bitcoin price is actually set. It isn't tethered to earnings, new product developments, etc. Its price is only limited by the understanding of the people buying and selling. Some of us understand how scarce it is, and have already priced it at $1 million+ per coin. If the market suddenly shifted their views towards ours, there's nothing holding BTC back from going to $500K+ virtually overnight. What could make that happen?
For now, most people still view BTC as a trade. Not the ultimate asset to accumulate. But as a thought experiment, imagine if a major nation state like Saudi Arabia made it clear that they were stacking Bitcoin with their profits. That they aren't looking to trade in and out, but rather create a multi-generational Bitcoin endowment. Perception would shift drastically overnight. Who would sell their BTC for a mere $100K when they know Saudi Arabia is going to pour in decades worth of oil profits?
The same shift could happen if corporations, major billionaires, etc. started publicly denominating their success in Bitcoin. Jeff Bezos just unloaded $4 Billion in Amazon stock a few months after he was seen partying with Michael Saylor in St. Tropez. Did Saylor orange pill another whale? Who knows. But one thing's for sure: We're on a knife's edge. Only a few headlines away from a shift in perception that would bring drastically higher price levels.
Plan accordingly
https://x.com/stackhodler/status/1758096264426586118 |
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And lo, for the love of God, I sayeth to all those with ears to hear: "Who let this crazy nut-job in here?" |
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