Replying to Avatar 21seasons

gm

A friend of mine started to explore #Bitcoin recently. Now their whole family is wanting me to come and explain Bitcoin to them, and tomorrow is the day. They have quite a lot of savings in different assets and want to know if it's wise to convert them to bitcoin.

I though I will start from the beginning and what is the problem with money today, and only after we can agree with the problems then I start to explain what Bitcoin is for me and how it can possibly fix those problems.

Why these kind of thing happen mostly in times of ATH? 😅
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Control-Plane Capital 1y ago

They always happen when #Bitcoin is pumping.

It's very important to explain to them that buying #Bitcoin for any time period of less than 4 years is highly speculative.

#Bitcoin is an investment, not a trade.

The only people who get rekt are the ones who trade #Bitcoin and use leverage.

If you buy with the intention to hold for 4 years +, there's no better asset IMO.

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21seasons 1y ago

Thanks for the input. I agree that money one wants to save at least 4 years, it's best to use #bitcoin. However I don't see bitcoin as an investment.

In my opinion investing is more like gambling. You bet on something you can expect profits from by putting money in and taking the risk. Of course it's usually less risky than keeping fiat since fiat only goes down.

I see bitcoin as an investment technology where one don't need to invest or gamble with money to keep it.