If you made an informed decision to buy #Bitcoin at $65K, you should like it even more at $48K. We're talking about the most important discovery of the digital age -- the invention of digital scarcity -- backed by an unstoppable pure free market nation-state level energy network.
If you are scared of this volatility, you are over exposed, plain and simple. Everyone and anyone can place a bet, any amount, on #Bitcoin's success. Nobody said go all-in. Unless you are a trader, there's no reason to stress out about the daily price action.
Make informed decisions, and depending on the level of your conviction, act accordingly. It's really that simple. If you're here to get rich quick, you're gonna have a bad time. Just enjoy the ride, ups, downs, and all that. Be an enjoyer, and this will all be so much more fun.
#Bitcoin settled $12 TRILLION in transactions this year, a year where its security infrastructure was attacked by a superpower nation state. $12 trillion in global trade settled with finality, with no one in charge, no marketing, no leader.
1. Who will be the first critic to say “I was wrong about #Bitcoin”?
How many decades must the Bitcoin network persist before the staunchest of Bitcoin haters like Krugman or Roubini swallow their pride and admit that it was all a big misunderstanding?
2. How many trillions of dollars in value will the #Bitcoin network, a once-in-a-millennia monetary phenomenon growing at an unprecedented pace with unstoppable momentum, have to capture to convince everyone that it is here to stay?
3. What if the internet was created so that #Bitcoin can be possible? A precursor technology to a more advanced, self-sustaining, stateless, leaderless, permission-less, living network, sustained by pure electricity, greed, and more importantly, human ingenuity, -
Thread: A little bit of fun #Bitcoin history. Back in 2010, someone posted a contest on the Bitcointalk forum pledging 20 BTC to whoever submit the funniest bitcoin image with the word "Bitcoin GALORE!" It quickly ballooned to 40 BTC as others added to the pot. 👇
At the time, that was worth about $20. Today, that's worth about $430,000. THIS was the glorious winner of the contest, a piece of art that would put Da Vinci to shame:
Four years later, in November of 2014, I posted a similar contest on Reddit. No, I didn't give 40 BTC. I gave the USD equivalent of $20, which was at the time .04 BTC or 4,000,000 sats. I also added 4M sats more for the top ten submissions. One Bitcoin was $440 at the time.
Thoughts from a #Bitcoin Bull-Bear-Bull-Bear-Bull market survivor:
I discovered Bitcoin in 2013, it was $30. Bought my first few at around $150 later that year. Bought a lot, spent a lot, made money, lost money, started a company, and learned a lot of lessons along the way.
Lesson 1: Stop thinking it’s too late. We haven’t even seen the tip of the iceberg. Even in 2013, people would say "Those that bought in 2012 were so lucky, we are too late." You wish you bought when it was cheap, but would you? Probably not. Why didn’t you buy more at $3K?
Lesson 2: Stop thinking about the 50 BTC you lost on satoshi dice, or the 5 BTC for that bag of herb that you smoked. It’s gone. Stop thinking you should have sold at $20K and bought back in at $3K instead of hodling all the way down and capitulating “to buy at $1.8K”. ---
1/ Listening to @PeterMcCormack's #bitcoin podcasts. Technical discussions are great, but damn does it make me cringe when guys like @rogerkver or whoever else living in their ivory towers start talking about how Bitcoin is for the "unbanked" in the 3rd world. They know nothing.
2/ The level of ignorance about this is unbelievable, but what's more shocking is their confidence that they know what's best for "these people living in Uganda or the Philippines who can't afford to spend bitcoin on the "main chain" because muh fees." This is laughable.
3/ NO, they will not choose BCH or whatever crypto over BTC because the fees are lower. Literally nobody cares about that shit. You guys need to stop using this narrative. It's condescending and ignorant. #Bitcoin is a tool that will be used for the benefit of the world, yes, but