If you are all in on #bitcoin, how do you explain to someone why you don’t diversify?
Discussion
HFSP
Do you diversify in the design of wheels that you trust? I don't need some square wheels just in case. I found the correct tool for money.
🤔😳…there is no second best Laura 🧐🤌🏽😂😂🌅
Because Bitcoin is sound money👌🏾why dilute the best money with anything less?
If you diversify away from the best money, then you're inherently implying something else could be better. You bet on winners and there is only ever one #1 spot.
i diversify by not holding all my ₿ on the same adress 👀
Everything else is has more risk, I'm just being conservative
I don't diversify because I've spent thousands of hours understanding one thing very well. I'm young, so I want a free future and have time to be riskier.
I don't discourage people from some level of diversification. I have older friends who I've encouraged to buy a little Bitcoin alongside their much larger stack of gold. Right on. Perfectly fine and achieves many of the same goals.
I do discourage people from diversifying into something like Ethereum because of point one. It's shit. Why give any amount of resources to a horse that has obviously lost the race? It makes no sense. Gold at least is still viable and serves many of the same purposes for people who won't understand Bitcoin enough in their remaining lifetime to go all in on it.
But on point one, I actually consider Bitcoin the least risky of my options now. So really I think I'm being conservative. Although I have considered moving a small emergency fund into gold to lower the volatility on that fund. Don't stone me!
ETH is shitcoin, although it has established itself in the domain of smart contracts - it's useless to me.
I’m allergic to third party risk.
If you spend the x amount of time needed to understand the fundamental challenges of the fiat system and the fundamental reasoning behind Bitcoin, arrival at the “all in” stance is a 99% likelihood occurrence. The remaining 1% is the difference due to the difficulty of getting rid of your previous diversification portfolio, haha.
I talk about bitcoin with such passion that there is no need to explain.
Time is absolute anr scarce, you can't diversify it..
counter parties hold most other assets. gold and silver are good for diversification
You don't!
If they haven't understood by now then they NGMI
However you explain it, be prepared to explain it again cause no one gets it right off the bat
Diversification is for investments. I don't invest in Bitcoin, that's like saying I invest in cash. If you want to invest have at it, but there has to be a reasonable chance the investment will beat Bitcoin CAGR.
No need to diversify money. Money is concentrated productivity.
«Only invest in what you understand»
Already forced to diversify into fiat to pay rent and basic needs. 😅
Diversifying out of BTC is moving capital to a loser
I used time and energy to create something valuable for the world. I want this value to represent the time and energy I sacrificed. Bitcoin is the only thing that will preserve this value.
Because I’m not that retarded.
Holding the world's only open global money is a maximally diversified bet on the productivity of humanity generally.
I generally don't.
If I did, I'd say Bitcoin is the only risk free position you can have, everything else is speculation. Everything else has third party risk & usually derives its value from expected future earnings. Bitcoin has no future earnings, it's pure monetary premium.
I'm no longer all in bitcoin though, I have a small position in MSTR as a speculative bet. I'm treating it very similarly to how I treated bitcoin when I first came across it.
Scoreboard
Diversity is simply a hedge for those that don’t know what they are doing.
Because I lose money when I diversify. No asset comes close to #bitcoin in terms of gains
The hardest money always win. So why bother with other "options"?
I do my best Saylor impressions and ask them "How many chairs are you sitting on right now? Are you all in on the chair?"