There's a lot of this right now, I'm not saying it's right, or smart ... but remember that when you say ngu doesn't matter
nGu is the engine that brings people to btc
Discussion
Low time preference wins.
Does nGu matter?
Of course. The number of SATs in my self custody going up matters to me more than it's current value relative to the dollar.
Watching "other assets outperform" is a temporary pause of the game. The clock starts again runs more than it's timed out.
That's true assuming there's nGu in the future,
which is my I think it's B's when people say it doesn't matter
As long as Fiat exists, scarce assets will always experience nGu.
Glad we agree nGu matters
It does but time preference matters more. everyone talking about number go up or number go down over a short period of time is absurd. The answer to all of this is as it always has been zoom out.
Always happens in boring crab market and signals the end of it
I hope so, not sure we are out of the woods yet
And people are getting a lot more educated about #Bitcoin. The fact that some idiots can just change the code has been exposed with v30. Which makes Bitcoin no longer better than other digital money as it loses its immutability. Let’s hope this gets addressed quickly, or Bitcoins dead.
Everyone is always free to change the code, they can't change the code on your node. That's the point.
Outside of a home to live in, ammo/firearms, and fitness/health there's no where else to put your money except for bitcoin. Chasing the AI stuff at this point seems really really dumb. Nuclear companies? Copper? electrical transformer manufacturers? Where else is there?
I'm all in btc so I align with those questions
but people have gone Gold, nvidia, tsla, palantir
This is why we need to focus more on using it as money (ie increase demand) than “store of value” because that’s just a dead end into ETFs.
Also, people’s expectations were way out of line this cycle. It’s the first time since Bitcoin has been around that central banks around the world have actively fought inflation. Liquidity has been draining off and on the past two years. The 4 year cycle thesis misled many.
Also, we don’t really know the effect paper bitcoin is having in suppressing the price of #bitcoin 🤔
HFSP
Amazing what chopping sideways for a couple of months does to the human mind.
Having bitcoin "in your portfolio" is not buying bitcoin - people like this are learning nothing. Some people have money trapped in retirement accounts but still they are not acquiring actual bitcoin due to the threat of theft of their retirement money. Buying paper bitcoin is placebo, I don't see anything good about it.