My father is a long retired Wall Street vet, whom I not only love but also deeply respect. He asked me not long ago whether I was committing the investor’s mortal sin regarding BTC…falling in love with your investment. What followed was a long discussion, really the first time I walked him through my thesis and why I believe. It was a great exercise because I’m not looking to orange pill him, but there’s something about having explain yourself to your father (regardless of age…) that puts things in sharp focus very quickly. When he finally told me, “You’re probably right,” I kinda felt like I had arrived at next level Bitcoiner status.
I was listening to nostr:npub1s5yq6wadwrxde4lhfs56gn64hwzuhnfa6r9mj476r5s4hkunzgzqrs6q7z talking to nostr:npub1pyp9fqq60689ppds9ec3vghsm7s6s4grfya0y342g2hs3a0y6t0segc0qq on his podcast today and they covered speculation vs investing.
Preston defined people picking up something to sell it for a fiat gain as speculation. The context was there are people buying long bonds right now because they may catch a short term bid (speculation). They don't buy them to hold them because they are good asset with good fundamentals (investing).
What hit me is that I think #btc has turned a lot of speculators into investors. I'm not buying it to turn a quick fiat profit. I'm buying #btc because I think it is good for the long run.
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