What do y'all think about someone who has read "The Bitcoin Standard" but still only looks at Bitcoin as an investment and believes gold standard is the way to go??? Lol. Cuz I'm like 🤦🤷😲
Discussion
They have alot to learn 🤷♂️
Yea...
He's hosting a node and waiting for BTC to hit $1 mil.
But he believes fiat world will be fine...
Still blind
It’s gonna be very interesting to see how all of this plays out that’s for sure
BITCOIN NO ES SOLO DINERO, ES ENERGIA, ES TODO
Depends on their line of argumentation it might be a minor misunderstanding or delusion.
I think he doesn't get that Bitcoin is sound money.
Obviously, but can he articulate where he thinks the flaw is? If not then there’s no use talking about it.
I guess that's what he wanted to talk about.
He did say he was more aligned as a maxi (my words) until "COVID" hit. Now he thinks everything is just FUD and fiat system will be fine.
That's a bit of a backward thinking process. So guess I'll find out more if I care to know lol
Id probably tell to watch some good vs bitcoin debates the voorhees Schiff is a good one ,
And leave it at , we all take our own stances
Yea he wants to discuss more, I actually don't. Lol
If they hold their own private keys and don’t sell they’ll be further ahead than most people, but far far behind bitcoiners who have learned to actually use bitcoin.
He has lightning node so I assume he uses it.
But he says diversification is important. I'm too one-track-minded to agree. 😆 Your thoughts?
Any of these "diversification" to me is just different ways to get more fiat, which is fine if that's their means to buy more bitcoin. But to believe in their inheritant values shows me that he doesn't understand why Bitcoin is sound money.
I think diversification is fine. Different people have different risk tolerances.
Diversify to preserve wealth, concentrate bets to increase wealth.
Right.
But if that wealth is left in fiat, doesn't that show they don't get Bitcoin completely? Which is fine.
But for someone who's read the Bitcoin standard and hosts his own node and lightning node, I'm just a bit confused.
Fiat could survive another 10 or 15 years, while Bitcoin price could swing around wildly. If they have enough Bitcoin to make them wealthier than they were before (arguably anything over 1%) then maybe that's enough risk for them.
And another question is how old is this person? If someone is like 75 then they should only have a small portion in Bitcoin anyway.
Going all in on Bitcoin is for young people who aren't rich already. (In my humble opinion.)
35
Maybe they don't understand Bitcoin.
You gotta have a lot of conviction to go all in. I had less than 3% Bitcoin until 2020, and I had a decent understanding of it.
I'm not saying he should all in.
But I think it's just his beliefs are conflicting and I couldn't figure out where and why.
And how he's only looking at Bitcoin as investment.
Feeling the need to “diversify” stems from trying to hedge one investment against another, or from speculating (ie, gambling) that rapid gains from one investment will allow you to accumulate funds to put into another investment more quickly. Long term bitcoin is the hedge against everything else, and short term gains are never guaranteed. Some people may get lucky, but many will not. With a long enough time horizon bitcoin is the obvious “bet,” and from a freedom standpoint there is simply no comparison. But not everyone is in it for the freedom.
Very well said.
This is guy is apparently "for freedom". That's why I don't get.
The Bitcoin Standard is a poorly written first exposure to Bitcoin. If somebody is a careful reader with a background in economics, language, and anthropology, they are unlikely to take the choppy argument seriously, if they finish it at all.
It’s too bad that people hang their hat on that book. If we want to teach Bitcoin, we need to start with quality tests that describe the problem that Bitcoin solves.
Depends on the mind set they had before reading the book. Some people don’t want to face reality because it’s too painful