Bitcoin goes down while the least suspected alts go up. What surprise? Start with FOMO, end with FUD, and repeat.
But really, the whole price psychology has little effect on hodlers who are in it because they believe in what it will become. We're still in infancy I think where whales are able to move markets at whim. Competition will come and coins will eventually distribute. This is neither the last or the greatest bull run or bear market BTC will see before we arrive at adoption. I'm not even counting on a return to $'s but a value once the petrol dollar finally goes tits up and coin value is based on real world use. That's the dream, right guyz?
On the one hand, I agree with you, but on the other hand, who fucking cares?
hahahhaha
a bit of a contradiction there.
Before you get your panties in a ruffle, Icygreen, let me back up my premise with we would need to have fucking well over $100 trillion BTC market cap before what you are saying makes sense.
That is about a 400x price increase from our current status.
Sure it could happen, but we have a long fucking way to get there.
We had a 78x increase in the past 2years, and yeah, that is all fine and dandy - but we are not quite yet sustained at that 78x increase because we have a bit of a dip here.
Maybe what I am saying that there is not really a problem to keep that kind of end goal in mind, but we are a long fucking way from getting there and we should be attempting to enjoy the journey along the way... and also there is likely to be a lot more ups and downs and ups and downs before we squeeze another 400x plus price appreciation out of this bad boy, no?
Sure, it is possible that such 400x plus price appreciation is closer than I think and I am being too much of a negative Nancy, but I do think that we should be attempting to deal with more of the here and now (and does not hurt to have those BIGGER pictures in the back of our head), but the here and now.. .. is a long way from the aspiration that you paint, no?
Appreciate the thoughts. Sure, we could be a long way off still but what's "long" 2 years, 3 or are we talking 20 years? Doubtful the latter.
You talk about bitcoin becoming the world reserve currency as if such outcome were inevitable, and it is merely a matter of time regarding when such world currency status will happen. So I am quibling with you regarding both the time of your projection and the inevitability that you seem to be asserting.
Since I'm not as early in the adoption curve as many here, I still consider myself in the accumulation phase.
I have always been a BTC accumulator, but I believe that i understand what you are saying. There is a kind of time period in which you are transitioning into bitcoin and taking you initial stake. I considered my first year in bitcoin from late 2013 to late 2014 to have been that early accumulation stage - thereafter, I was a bit less obsessed with accumulation and I felt that i was mostly maintaining (which also has involved accumulation, but not nearly on any kind of level that was near to my first year).
I'm quite happy with my meager hodlings and selling is off the table almost completely at this time for me. It always looks like a fine idea in hindsight. Perhaps I'll join your trading trading strategy after another 20X and if that day never comes, well, I gave it my best for something I believed would change the world for the better.
Actually, I am glad that you are not getting defensive about the strong tone of my first response to your assertions, because even though my first response was criticizing the way you had expressed bitcoin's expected reserve currency status, I still agree with the overall concept that you should only be taking a decently large stake in some kind of asset that you have decently positive assessments regarding its likely long term performance. So, yeah, in the crypto space, bitcoin does seem to be heads and shoulders above any other crypto in terms of fundamentals, and building of network effects and seeming resilience to ongoing onslaughts of attacks from various hostile entities (both seemingly internal and external)... so far, knock on wood...
I believe that if I were to do my initial investment into bitcoin again, I think that I would tweak the way that I did such initial investment to incorporate both buying and selling. I think that I could have learned more faster, and I think that I could have accumulated more bitcoins with such a strategy. I did not sell any bitcoins for nearly my first two years of my investment, because I did not have any strategy for selling BTC. Whenever I did sell any, I replaced those bitcoins within a day or two.
In the first two years, I was attempting to simplify the whole matter, and I was thinking that my whole BTC portfolio had to be profitable in order to sell any BTC - and that way I was always buying lower and selling higher than I bought - and I found out that i had been way too conservative. When I finally did authorize myself to sell some BTC, I ended up dividing my BTC holdings into 3 categories, and in essence I authorized myself to sell a small portion within the bought lower than sell point BTCs. Later, after I traded a while, I realized that I did not need to engage in such conceptualization in order to be smarter about selling bitcoin and being able to use proceeds from BTC sales to buy back additional BTC... just buy selling really small increments, and selling on the way up. I started selling at about $250 - but I had acquired plenty of BTC below $250 (even though my overall average cost per BTC was over $500 at that time).
Anyhow, my point is that in order to figure out a profitable strategy, you can begin already to sell really small amounts of BTC as the price is going up and to use that money to buy back when the price goes down.. and you also can sell such a small amount of BTC that you are not going to care whether the price goes down, anyhow, because those BTC are profitable, and you still have a decent remaining stash of BTC, whether that is .1BTC or 1 BTC or 10 BTC or 100BTC or some other quantity. You do not have to be 20x to begin such a process to profit from BTC's volatility and to play with small amounts and to get benefits from such.
For the earlies here who have "fuck you money" ya, who cares? Take your earnings and enjoy some life.
I surely do feel like that - yet I also have obligations too that I cannot just abandon. I think that as we get older, sometimes, there can be difficulties in life concerning the number of obligations that we have created.. and fuck when I was in my 20s and even in my early 30s, I had way fucking more easy mobility (but just no money). Now, I gots me money, but fucking difficulties just severing obligations... fuck fuck fuck. I am going to end up losing some money to makes some of my severances, but the more irritating parts concern nothing being easy and other peeps getting in the way, too. I am working on it. I am working on it, but I still cannot rush it, even with fuck you money. Fuck.
Enjoying life has always been my priority #1 , well before money and I know if the money slows or stops, I'll be just fine.
On that note, I've gotta go kitesurfing, getting windy!
Maybe if you are in your 20s, you might think that you don't need to worry about not having a cushion. I think that even by the time I got into my 30s, I began to think that I needed to have a financial cushion... which I think involves having a sufficient income stream to cover you for a certain number of years. If you are 30, perhaps, you may consider that among the most optimistic scenarios is living until 90, but most peeps in their 20s, 30s and even early 40s, seem to have some drive to work... but currently, even though I have a quite a few skills, I am getting the sense that I do not want to work - even though I still could find things to do and even ways to feel productive and even find new hobbies. I already have enough fun things (and hobbies) that would likely keep me fully busy and entertained, so I don't feel any need to maintain some kind of work obligation to give me sense of meaning.. at least not currently... but knowing myself, even if I start traveling the world, I will end up finding some activities that become like a job to me.
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