Nostr Web Client

Admittedly, I really enjoyed this timely discussion with nostr:npub16le69k9hwapnjfhz89wnzkvf96z8n6r34qqwgq0sglas3tgh7v4sp9ffxj.

Danny asks great questions, with intelligent follow-up points for clarification… and does both with a chill vibe.

The What Bitcoin Did podcast is in great hands! ⚡️

nostr:note1sqrexav054xtjdr88apv9wquxqsns47h4c4k3l5yej9q556zwcuqlza5nw

Theophilus 11mo ago

Jeff, I listened to this interview and you drew a distinction between how you handle your own finances (hodl, live mostly on a bitcoin standard) and how you think about the market as a fund manager.

I’m curious why you wouldn’t apply the same strategies you’d use in your fund to deliver a positive return in your own finances.

I agree that the vast majority of people are better off not trying to time the market. Per Odell, stay humble and stack sats. That’s sound advice.

But you’re an experienced fund manager who is responsible for eyeing liquidity like a hawk and devising strategies to lock in returns and avoid massive/lengthy drawdowns.

Is it a matter of principle? A mix of other considerations?

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Discussion

Higgle 11mo ago

I too operate personally on the Bitcoin standard. I do however have some money locked up in retirement accounts which are in Bitcoin ETFs / MSTR. Jeff got me thinking of setting up some trailing stop losses. Just a matter of where to set them! with the amount of 20-40% drawdowns during previous bull runs, seems like an equal risk of tripping the stop loss then having the price rip 40% in the other direction! What do you think nostr:npub1k7vkcxp7qdkly7qzj3dcpw7u3v9lt9cmvcs6s6ln26wrxggh7p7su3c04l ?

less 11mo ago

The concept of Staying Humble and Stacking Sats (h/t nostr:nprofile1qyv8wumn8ghj7urjv4kkjatd9ec8y6tdv9kzumn9wsq3vamnwvaz7tmjv4kxz7fwwpexjmtpdshxuet5qyvhwumn8ghj7um9dejxjapwdehhxenvv9ex2tnrdaksqgqyey2a4mlw8qchlfe5g39vacus4qnflevppv3yre0xm56rm7lveyr9lldz ) and living on a Bitcoin Standard is a simple and peaceful existence.

And, historically-speaking, it is also quite profitable.

Anyone can do it. Just:

1. Head down.

2. Work hard.

3. Spend less than you earn.

4. Stack sats.

Trying to time the market--with its massive associated tax implications--is a stressful life.

As I seasoned fund manager, I generally get the timing right and end up with a little more bitcoin. But sometimes I get it wrong.

And sometimes I lie awake at night, stressed out and wondering if I made the right trade (by size and by timing) on behalf of my clients.

A (very) small number of people can outperform bitcoin in the long run, but 99% cannot.

For these reasons I recommend that everyone just stays humble and stacks sats, as nostr:nprofile1qyv8wumn8ghj7urjv4kkjatd9ec8y6tdv9kzumn9wsq3vamnwvaz7tmjv4kxz7fwwpexjmtpdshxuet5qyvhwumn8ghj7um9dejxjapwdehhxenvv9ex2tnrdaksqgqyey2a4mlw8qchlfe5g39vacus4qnflevppv3yre0xm56rm7lveyr9lldz has succinctly devised.

Randall 11mo ago

Rock solid message. It's always encouraging hearing this same game plan from different seasoned bitcoiners. Now if more people could actually internalize it, real growth could take place.