1/ I understand the pain from #bitcoin's drop in price but the only relevant question is “Has anything changed with my initial investment thesis?"
2/ If the thesis that justified your investment in #bitcoin is still valid, then logic dictates HODL or increase your position.
3/ If your rationale for investing in #bitcoin no longer exists, then sell and move on. Take the tax deduction.
4/ If you never had an investment thesis, didn't understand what you were investing in, risked more than you could afford to lose and/or expected to get rich quick, then you've learned several priceless lessons - ones that may save you from ruinous losses in the future.
5/ Personally, nothing has changed in my investment thesis since 2013, except the time frame. #bitcoin's spread is going to take longer than I expected, mainly because of regulations/compliance and their impact on onboarding and user experience.
6/ On the other hand, risks to #bitcoin today are much lower than in 2013 and my conviction in the investment is much deeper. #Bitcoin has won the store of value (Gold 2.0) use case and will ultimately become the world's reserve asset.
7/ Chances are good that #bitcoin will also be used as a currency in, at worst, several important use cases, e.g., large international settlements, and I believe it will become a global unit of account.
8/ Final thoughts:
- the pain of a bear market is when you earn the rewards of a bull market
- #btc will return to $20K & move beyond, HODLers will be thankful for every bitcoin they never sold
- my main regret is not having more $$ to increase my BTC position at these prices
9/ Don't confuse trading and investing or you'll suck at both.
P.S. All this is just my opinion - smart people disagree with me. I'm not giving investment advice. FFS do your own research and come to your own opinion on bitcoin - you won't regret it.
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26/ So, call your tokenized project anything you want. I call it a software project, one that has been given a wildly premature liquidity event and which, by doing so, has destroyed the key incentives to perform the WORK needed to drive a project to a sustainable phase.
27/ For the SEC, the correct term is “security”. But I don’t care about that debate and have no desire to sic the Feds on anyone. Just don’t call it “money” or, at least don’t embarrass yourself and call it "sound money".
28/ There hasn’t been a sound money in history that has been disconnected from a commodity. From gold, from silver, from energy. From some scarce resource whose supply and characteristics are beyond the corrupting reach of humans.
1/ What non-Bitcoiners can’t seem to grasp is that any money that can be manipulated, will be.
2/ That’s why I’ve never cared about Ethereum. I’ve never cared about the fork-coins of Bitcoin. They can be changed, and therefore they will be. Now or in the future. The fork that created ETH was all the proof needed to see that this was true.
3/ The ETH switch to POS (proof of stake, not piece of sh!t, though who knows long term) proved the same thing. If humans can control it, they will.
1/ The gap between the "rich" and the 'non-rich' has nothing to do with taxes and everything to do with monetary policy. This is critical to understand, especially with presidential candidates calling for socialist policies in the U.S. #bitcoin
2/ In the past 10 yrs the Fed has flooded the market with dollars. The amount of US dollars in circulation has doubled in the past decade. DOUBLED.
3/ The idea is to spur economic activity and, yes, banks loan some money to businesses that invest in growth, job creation, etc
But there is limited supply of good businesses needing loans. Much of the money ends up invested in asset classes like real estate, equities, PE/VC etc
1/ Don't conflate sound money and currency. The former is extremely rare and very valuable. The latter is common, easily-created and not very valuable.
2/ The biggest competitive advantage investing in the "crypto" market is a deep historical knowledge of the evolution of "money" and a fundamental understanding of what it is.
3/ That's very fair, since that understanding takes work and research that most aren't willing to do, including people at the highest levels of finance.