Bitcoin is like the story for the Gypsy woman and the milk

[gondel]

First thing first, I am into BTC since 2012 and Bitcoin reminds me too much of this story.
If you do not have 10 BTC in your pocket it seems a lot, but if you have them you are like the Gypsy woman and the Milk ( Traditional Bulgarian Fairy Tale from the Duben Region).
So Once upon a time there was a Gypsy woman who was very very poor. She was so poor, that she never ate milk in her life before. So one day she decided to buy a bottle of milk on the market with her last money earned from begging.
In the past, when they were selling the milk it was fresh and not pasteurized so everyone has to boil it first before consume it.
So the Gypsy woman went home and started preparing lunch with the milk, she was so poor that it was the first time she was going to eat milk in her life so she did not know that the milk is making foam while boiling and is increasing its size until done.
When the hot milk started to rise in the pot the Gypsy woman started thinking: "Oh this is great, now I have almost double the amount of milk, I will feed also my Gypsy Husband with it!" The milk continued to rise while boiling and she started being greedy and instead of removing it from the fire she exclaimed: "Common precious milk, rise little more and I will have more to feed my Gypsy Kids!" The milk continued to rise and almost filled the whole pot. The Gypsy was so excited she started singing: " Rise more precious milk and I will have enough milk to feed me and the whole family for one month ahead!" While singing and consumed by the dream of having milk for all her life the milk burned out and spilled all over the walls and the roof. The Gypsy woman did not have anything left neither for her or her family, she lost everything. The Gypsy woman cried and never bought milk again.
THE END

[BitcoinGirl.Club]

The lady did not have TA at that time 🤣

[BrewMaster]

well don't be like that Gypsy woman and learn how to use "milk" so that you don't lose it that easily by using it the wrong way because you didn't educate yourself before using a new thing.

[Daniel91]

In short, you want to say that many users look at bitcoin as a soap bubble?
For some it may be true but I think most people here have complete realistic expectations of bitcoin.
Bitcoin will always have ups and downs and its value will always depend on supply and demand.
My advice: do not wait for the milk (or anything in life) to boil

[CryptoBry]

Another good advice is to use a much BIGGER pot so that the milk will not be spilling over or maybe ask someone how to cook the milk properly. Just like in bitcoin or cryptocurrency education is the key. In that story, there is nothing wrong with the milk...heck she can even drink it as it is without the use of fire. Ignorance is the problem and not the milk. In the same manner, there is nothing wrong with bitcoin but we need to educate people so that they will not have wrong notions and bloated expectations -- which reminded me of the year 2017. Anyway, we can learn a lesson or two from this story and we can apply it right this year and into 2020...when bitcoin is expected to grow and grow just like the boiled milk.

[Artemis3]

Talk about a lame story... Are you implying that bitcoin is a bubble waiting to pop? If i had a satoshi for every time i have read that comment, i would have a bitcoin by now...

Just so you know bitcoin has always had these ups and downs, and yet if you look at it in the long term it has steadiy been gaining value. BUT, its supposed to slow down this gaining of value over time.

It should follows a logarithmic scale like this



And will probably end looking like that in 100 years, just like gold.

[hatshepsut93]

Bitcoin crashed many times already, and yet somehow every bottom is higher than the top of the previous cycle. Unlike the milk in the story, Bitcoin is not bound to fail, because it has fundamentals to support it - Bitcoin is used as store of value, as independent asset. it's used for international transactions, private transactions. Bitcoin keeps evolving, many new features are under development right now, one of the most promising addition is Lightning Network which will bring together Bitcoin's security and high transaction speed with nearly zero fees.

[pixie85]

Are you really afraid of a big crash that will leave you with nothing when we are so early into a bull market?

Sit back and relax we've been here before. It's not like a big crash from 10 thousand to 5 thousand can make us leave the market with nothing and curse that damn bitcoin
4 months ago we were in 3500 over a year in a bear market and people were saying that we have to go to 1000 to rise back up and look where we are now. If we are to crash come on bring it on i'm ready for 3000 again and I'll be buying on the way down like crazy.

[BitHodler]

Talk about a lame story... Are you implying that bitcoin is a bubble waiting to pop? If i had a satoshi for every time i have read that comment, i would have a bitcoin by now...

It's difficult to figure out what the context is of this thread, but it doesn't surprise me that these threads pop up after a significant increase in price. Maybe it could be that OP sold his coins too soon and now feels bad about it?

The thing with bubbles is that they aren't necessarily a bad thing. Bitcoin itself definitely isn't a bubble, but its market can form them, and they do pop from time to time. 2017s bubble popped too, and now we're going to form another one.

After the new (potentially current?) bubble pops we yet again will form another one. Boom and bust cycles are quite common, the only difference is that the cycles in the crypto world are extremely brutal.

[serjent05]

Got the message on that story.  Do not be too greedy.  If we saw profit then it is best to cash out.  I see the same scenario way back 2017.  Many people  hodl during the uptrend of BTC thinking that it will continuously grow but bear hit 2018 and price plummet badly. Many of those who hold those time sell at the bottom and never come back. 

[partysaurus]

First thing first, I am into BTC since 2012 and Bitcoin reminds me too much of this story.
If you do not have 10 BTC in your pocket it seems a lot, but if you have them you are like the Gypsy woman and the Milk ( Traditional Bulgarian Fairy Tale from the Duben Region).
So Once upon a time there was a Gypsy woman who was very very poor. She was so poor, that she never ate milk in her life before. So one day she decided to buy a bottle of milk on the market with her last money earned from begging.
In the past, when they were selling the milk it was fresh and not pasteurized so everyone has to boil it first before consume it.
So the Gypsy woman went home and started preparing lunch with the milk, she was so poor that it was the first time she was going to eat milk in her life so she did not know that the milk is making foam while boiling and is increasing its size until done.
When the hot milk started to rise in the pot the Gypsy woman started thinking: "Oh this is great, now I have almost double the amount of milk, I will feed also my Gypsy Husband with it!" The milk continued to rise while boiling and she started being greedy and instead of removing it from the fire she exclaimed: "Common precious milk, rise little more and I will have more to feed my Gypsy Kids!" The milk continued to rise and almost filled the whole pot. The Gypsy was so excited she started singing: " Rise more precious milk and I will have enough milk to feed me and the whole family for one month ahead!" While singing and consumed by the dream of having milk for all her life the milk burned out and spilled all over the walls and the roof. The Gypsy woman did not have anything left neither for her or her family, she lost everything. The Gypsy woman cried and never bought milk again.
THE END

sounds very much like all the investors counting their money before they even widrawld anything from their acount ending up with nothing in the end in form of profit, i like this story never heard it before but its a good story about greed. and celebrating ahead of time.

[pooya87]

this sounds more like you are describing someone who has a small amount of bitcoin like 0.01BTC and is sitting around waiting for it to make him a millionaire overnight. i don't see how owning bitcoin can lead to anybody losing anything though. so your "story" doesn't make much sense to me unless you were trying to say bitcoin is a bubble which again it won't make any sense!

[Dapper]

We all live our own stories.  I like the story of the gypsy who reinvested his profits into real estate (which now produce passive rental income and long term appreciation), a basket of fiat currencies (to also trade for profit via arbitrage), gold (for a rainy day and possible long term appreciation), and still has most of his original milk which he has freeze dried and keeps stored in air gapped cell phones, paper wallets, and Trezors.  

 

[JayJuanGee]

Got the message on that story.  Do not be too greedy.  If we saw profit then it is best to cash out.  I see the same scenario way back 2017.  Many people  hodl during the uptrend of BTC thinking that it will continuously grow but bear hit 2018 and price plummet badly. Many of those who hold those time sell at the bottom and never come back. 

I agree with your reading of the story is that there is some justification of selling on the way up, but just like the story has a problem, so does your conclusion.

In bitcoin, you do not necessarily need to sell all of you bitcoin and to become a kind of slave to volatility by attempting to sell at the top and to buy at the bottom.

Nonetheless, you can skim some profits off on the way up, use those profits for personal use or use those profits to buy bitcoin back lower.  It is your discretion regarding how you would like to use any profits that you skim off of your bitcoin investment.

The other aspect of the milk story that suggests that bitcoin will go to zero if you don't cash out at the right time, or at least at a reasonable time, is a flawed presumption the story that causes the analogy to NOT fit very well with what is likely in bitcoin.

[gondel]

There is nothing wrong with the milk, its the gypsy woman who never ate milk before.

[Haunebu]

There is nothing wrong with the milk, its the gypsy woman who never ate milk before.

Firstly, how exactly do you eat milk? Hilarious. Secondly, op is clearly suggesting that BTC is growing inorganically and will pop like before which is why I feel he is as dumb as the gypsy lady in this case.

BTC has been growing steadily in value over the last year and this is nothing like 2017 where almost every coin price rose through the roof. Majority of the altcoins are still withering away even now while only the legitimate coins are organically rising in value.

[Rufsilf]

Lesson learned, don’t invest on something you don’t know and really understand because it just a waste of your investment. If you don’t know about your investment then there’s a possibility of mishandling it thus, be sure to study and research first on the thing you want to invest to. Moreover, greed can really mess up everything if you let it take over so try to control yourself as much as possible.

[fiulpro]

Well it's not the same.
If you think people who actually hold Bitcoin don't think for a second about selling them and such you are wrong , we actually are holding but at the same time we are looking each and everyday at the market and deciding our next step .

What if you say the same for a person who is investing in apple shares ? Or just a land ! ? We all know that it's something that is unconventional , holding Bitcoins that's only because it is something that is not yet tested by time.

But trust me holding and waiting here is worth it.
There is one Golden rule of the market :

Be patient !