The later you come into #Bitcoin, the higher your conviction needs to be
Think about it
Discussion
80% will enter Bitcoin without having a thought or making a decision
Interesting take
Let’s say I start a business (as a Bitcoiner) and only offer pay in Bitcoin
That’s how I envision us getting from 20% to 100%
Many will also have IBIT in a 401k or Microstrategy in the SP500
Only a certain percentage of people will ever truly get it and run nodes, hold keys, and maintain the network
Most will use it without even thinking about it, similar to how the internet is used today
Alright agreed with that.
The way I was framing it is that if you ignored it for 15 years and saw it at 1k, you’ll need a lot more conviction to buy it at 60k
While people who just buy and hold it will easily get more conviction as their portfolio outperforms everything
The higher your conviction ‘ought’ be as well.
Those who came before you have de-risked it and built a suite of educational materials that make conviction easier to come by.
Very true
True. But the later you come into bitcoin the easier conviction comes. In 2011 or so it was way harder to feel comfortable holding any significant value in Bitcoin. At block 840,000 it’s hard not to.
Also good point
we may be underestimating the influence of panic.
I would say earlier. There was a lot more uncertainty about bitcoin in the early days. Saying the government will shut it down or that it will fail is less plausible now than it was in the early days.