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.
