I need help coming up with simple ways to explain why Bitcoin, despite its "volatility", is the safest place to keep your savings.
Anyone have a good way to do this?
#bitcoin
#orangepill
#plebchain
Discussion
Yes, show this:
Link shows an error for me.
Yeah just noticed I can't see it more too.. probably the source link changed. It was an amazing video of ana animated chart made by Wicked 🥲
#Bitcoin explains itself over time
Great, I'll just let their savings turn to nothing while I give Bitcoin time to explain itself to them. 👍
Don’t worry, their savings won’t turn into nothing. If you’re there as an Uncle Jim, I’m sure they’ll be interested in learning more when Bitcoin hits new all time highs. That’s only about -55% on the value of their savings and still gives them the opportunity to easily be 8 figure sat holders.
I wish there was a better way, but there is no way to force an orange pill. I’ve tried. Just continue to make the case for Bitcoin being a better system and help people walk that path on their own.
This way:
Compare it to a retirement plan.
Most people aren’t traders. If they are, they should know how to make money off of the volatility. If they aren’t, they should invest to save and only be concerned with long term price action.
#Bitcoin is savings.
Look at any 4-5 year period over its history.
Look at its scarcity, its inflation/halving schedule, and network growth metrics.
Also, most people don’t understand the dynamic between inflation and asset prices. If you can explain that to them and the come back to Bitcoin’s characteristics and benefits, hopefully they can grasp it.
Followed
1971
Bitcoin is only volatile in the short term as it goes through price discovery.
Consider the value of everything in the world.
The value of everything. This is the whole pie and all currencies, fiat or bitcoin, compete to represent portions of this pie.
Assume for a second there is only one usd world currency. As more usd are printed, the number of dollars in this world increases therefore the amount of value each dollar represents decreases naturally over time. This is inflation.
Now assume for a second there is only bitcoin. Bitcoin is fixed at 21m supply so in reality, bitcoin can only be lost and the global supply of bitcoin can only decrease. Therefore the total number of bitcoin representing everything in the world can only decrease. On a per bitcoin basis, value each bitcoin represents can only go up. This is deflation.
Now in the reality of multiple currencies, when pricing bitcoin against usd... if the price of usd is forever trending down, and the price of bitcoin forever trends up, given a long time frame... bitcoin is up only. Short term volatility is just that. Bitciin is the best long term play. It's simple economics.
Even a caveman could understand Bitcoin's chart for the last 12 years! It's like a rollercoaster ride, but with more value goin up and up and up.
🦕💰📈