If you sold Bitcoin and regret it, you can post here too. I know it’s happened.
It’s ok. People make mistakes.
I promise to not make fun of you.
It’s ok. People make mistakes.
I promise to not make fun of you.
Sci/Tech Official Bitcoin to infinity ♾️ thread
- Thread starter SiLVa_ABCTT
- Start date
Can Trump Order a Strategic Bitcoin Reserve?
www.btcpolicy.org
I have to say, I knew the types of things happening with Bitcoin today would eventually happen but feeling the timeline play out is pretty fuckin surreal. And seeing what’s to come is mind blowing.
It’s almost like speeding up more than I’m even comfortable with. 😂
It’s almost like speeding up more than I’m even comfortable with. 😂
Normally I’d say what ever I want and it’s really no one’s business. Not to be rude, but for security reasons but I’ll be brief.
For the most part, I’m just holding and adding to my current stack. But when I want to, I use it. It’s a form of digital currency.
I can send to someone as a gift, use it to buy something, pay someone for work/services, you can use it play with call options.(leverage) Or gambling.
Not at this time but maybe eventually. I’ve known a friend that moved to Puerto Rico and bought a house with a crypto loan using Bitcoin. But I have no personal experience with it, but yeah it’s possible to do that but I don’t always recommend it because those things usually fail miserably (BlockFi) and you can get liquidated.
I think I’ve answered the best I can.
It’s as personal as your personal finances. Let’s just say the options are endless. It’s just a better asset to own right now than it is to use but obviously it’s very convenient when you can control a decent amount of wealth with no third party in the way.
Besides, holding is smarter when you know the dollar continuously loses value. Kind of a no-brainer for me.
I have a lot of reasons to save the best performing asset for the future so holding makes the most sense at this time. But using it once in a while in a Bitcoin ecosystem is fun too.
I can get way more technical like explain how I run a node and can confirm my own transactions on a laptop essentially being my own bank.
I'm still not sold on Bitcoin. Had some like eight years ago to buy weed off Alpha Bay. Cost was around $700/coin at the time. I've been tempted to invest, and often kick myself for not getting into the speculative madness. But was it not created as a competitor to fiat currency? Doesn't the USD have to be defeated for Bitcoin to assume its role? In what timeline does the US Govt allow that to happen?
When it hit $70k last time some poor schmuck told me it can literally never go down. He had just spent tons of money building a mining shed. Then the price tanked to like $20k.
It was created to be a peer to peer electronic cash network. Conquering the dollar was never the purpose. Whether it is in competition with the dollar is just one economic theory.
Do all currencies compete with each other? If you feel that’s the case then eventually Bitcoin may be the winner as best money but in the meantime its value is what it is.
And its value isn’t just what the dollar value is, but the use cases could potentially be invaluable because of its decentralized properties.
Trump announced a possible Bitcoin strategic reserve. Things are moving in a way that Bitcoin doesn’t have to necessarily compete with the dollar but makes the value proposition stronger by adding digital optionality(like stablecoins).
It may happen that the more people adopt it and use it, it becomes something that is preferred over the dollar and in that case it would become the world reserve currency and be worth tens of millions of dollars per coin but that’s not likely anytime soon.
Wouldn’t you want to have some even at 90K in that scenario?
To the reverse side, and highly unlikely, if the government tries to ban it could crash in dollar value but would still remain a decentralized peer to peer network that exist and value will always be traded on it at whatever price.
If he has cheap power and held onto his Bitcoin, he’s doing just fine I’m sure.
I get it. It wasn't meant to be an intrusive or invasive question as you seem to have partially taken it. I'm also not naive to crypto.
However, as you said, there are various ways to approach BTC (and crypto in general). Using it as a FIAT alternative is a much different approach than trading it for the sake of income, and most of those are a much different approach than DCAing & hodling as a long term investment vehicle. And all of those are different than simply using BTC (or any crypto) as a store of wealth (in comparison to gold, property, etc)...especially when inflation is way up & the dollar is way down.
Short-term spendable income vs long-term investment holding are two significantly different things. And most average people buying BTC don't stop to consider (or even know) the difference.
It doesn't help with the vast majority of people espousing crypto in general don't specify either one.
I was just curious as to your approach.
Thanks.
I want to be as helpful as I can but I’m just careful and value my privacy. It was a perfectly fine question to ask.
Bitcoin is more than just money. But it seems it’s the best money if you want your money’s value to last and for the price of things in Bitcoin to drop.
In other words…everything seems to get cheaper if you monetize in Bitcoin.
For instance average cost of a house:
now it’s even less than 6 BTC.
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Welp here I amIf you sold Bitcoin and regret it, you can post here too. I know it’s happened.
It’s ok. People make mistakes.
I promise to not make fun of you.
Damn
My friend panic sold when it dipped to around 30k. Ended up losing quite a bit of money.If you sold Bitcoin and regret it, you can post here too. I know it’s happened.
It’s ok. People make mistakes.
I promise to not make fun of you.
And not even two weeks earlier he was telling me that people in the know were saying bitcoin would eventually surpass 1,000,000.
A lot of people are going to be kicking themselves in the future I feel like, for not investing or not sticking with their investment longer.
Yeah it’s weird that people don’t think it will go higher based on the limited supply but most don’t understand it enough to get it. They don’t see the demand or future demand.
It’s unfortunate for them. But good for those that want to front run them.
They will eventually get it.
Holy Shit the way MSTR has been moving is ridiculous.
I’m not huge in playing with Bitcoin adjacent stocks but Saylor with his Bitcoin thesis leveraging MicroStrategy to buy more Bitcoin seems to be working great for him, and anyone holding MSTR.
Some Bitcoin mining stocks have been ripping too.
Most of those stocks do really well in bull markets, not so much in bear markets tho lol
I’m not huge in playing with Bitcoin adjacent stocks but Saylor with his Bitcoin thesis leveraging MicroStrategy to buy more Bitcoin seems to be working great for him, and anyone holding MSTR.
Some Bitcoin mining stocks have been ripping too.
Most of those stocks do really well in bull markets, not so much in bear markets tho lol
I know the founders of this Bitcoin Insurance company AnchorWatch. Met them at a Bitcoin Conference and talk with them often on Clubhouse, in fact it was 2 years ago on Clubhouse that this business idea was born out of a conversation. So cool to see them actually making it to this point with Lloyd’s of London.
Just goes to show that Bitcoin isn’t going anywhere if these guys are willing to underwrite policies insuring Bitcoin.
Just goes to show that Bitcoin isn’t going anywhere if these guys are willing to underwrite policies insuring Bitcoin.
AnchorWatch Becomes Lloyd's of London Coverholder, Set to Begin Operations in December 2024
AnchorWatch, a pioneering insurance provider specializing in bitcoin custody, proudly announces its designation as a Lloyd’s of London Coverholder. Th
www.businesswire.com
