When buying BTC, it’s important if you’re a bitcoiner to see that 1 BTC = 1 BTC.
Right now, you can get to 1 BTC a lot faster with smaller fiat than 12 months ago when you needed 69k.
Don’t get me wrong, I am not a bitcoin maxis or any maxis for that matter, I am just a student who’s curious about crypto in the last 3 years. But you have to realise that this is the way true bitcoin adherents think.
They’re not speculating on how BTC trades with fiat (BTCUSD) but how BTC = freedom (stateless).
But the speculative nature of BTC & other crypto tokens has made it more attractive (enticing).
You have to tell yourself the truth, why are you interested in crypto?
The history of crypto is where you should start really. Go read the bitcoin white paper.
When KIM (dotcom) spoke about BTC in that 24 hour+ space today, he kept saying that people don’t understand bitcoin, that is is not meant to be a speculative asset or investment. He kept saying it should be a form of decentralised money free from censorship.
You need to read the bitcoin white paper to understand this.
A product can be designed to be used in a certain way, but there are times users redefine how they use it (speculative nature of BTC for instance or using Facebook as a dating app).
So, let me ask you again; why are you in crypto? Why are you still here?
Speculators get wiped out easily by greed and being caught up in euphoria.
You can speculate on BTC or other crypto assets, but know the risks, find your edge and don’t become exit liquidity by moving blind.
Bitcoin is still pretty much a concept (a wide scale experiment that is still being developed).
BTC is still working as designed. But it’s popularity is slowing down as the speculative nature of crypto assets gather momentum (see how much money people have lost—LUNA, FTX etc. People who kept buying BTC and storing it or mining it aren’t losing. 1 BTC = 1 BTC still).This post is based on this twitter thread.