Replying to Avatar Brock

It isn’t “do something” … it’s don’t “move the goalposts” … don’t act as if everything is fine and if you’re not acting like everything is fine then “you’re a part of the problem” or “should have known better”. No other bitcoin adopters have gone this long without a period of euphoria to help with the pain of the volatility.

Every analyst and influencer who is acting like “everything is fine” had a large allocation that has gone through a 10x+ windfall. Those who made a large allocation during the last euphoric bull run have held for ~4+ years, went through an 80% drawdown, and are now up less than 2x on that allocation. That’s bad risk management for an investor.

Bitcoin has recently failed on a key tenet of acting as money (transmit value over space and time) for those people. Maybe there are not many of us, but more INFLOOENCERS should show some empathy to those of us who are bitcoiners but have been put through significant pain for coming up on 5 years without relief.
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Lightning_Sparks 2d ago

Anyone who discovered the Bitcoin bug in 2021 has been rug pulled from an exponential move in dollar terms, I share that frustration.

The reality is, if we are complaining about only a 2x from the 2021 TOP we are spoiled. A good bitcoiner DCA’s to level out the volatility anyway.

Lyn will say “No one is owed a bull market”

Just have to face the fact that dollar performance did not match exuberant expectations.

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Brock 2d ago

I disagree. If someone (🙋🏼‍♂️) held through the 80% drawdown then they’re 100% “owed a bull market” if bitcoin is what we say it is…that is a superior money, moving value over space and time. Risk-adjusted returns require compensation for that downside volatility. Absolute returns are a useless measure. It’s all about volatility adjusted returns.

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Cody 1d ago

Yeah unfortunately who "owes" people this? We can't just go crying to someone and demand a bull run. The best we can do is try to convince others to opt out of fiat.

Or get used to the idea that maybe Bitcoin will never actually be the money of the world. Maybe it being freedom money for a small portion of open minded people is good enough.

Revolutions almost always fail. I'm all in on this one sink or swim.

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Brock 23h ago

I think the challenge for bitcoin is that in order to be a superior monetary technology, it MUST transmit superior value over space and time. As soon as it loses one or both of those functions for a long duration, the thesis starts to implode. I agree that people can't get caught up on short duration price fluctuations but 5 years isn't a short duration. It needs to perform on a risk-adjusted basis when we start to talk about 4+ year durations. Either bitcoin is a superior money technology or it isn't. There isn't a huge amount of ambiguity on whether the thesis is holding.