On the serious note...
I did orange pilled a friend and I'm not that comfortable with recommending enter on ATH...
When #Bitcoin starts ripping and your friends hit you up asking “should I buy now or do you think it’ll go lower?”
FOLLOW nostr:npub10qrssqjsydd38j8mv7h27dq0ynpns3djgu88mhr7cr2qcqrgyezspkxqj8 IF YOU’VE TRIED AND FAILED TO ORANGE PILL YOUR FRIENDS https://v.nostr.build/EFYbFU9PBVMZ3SsV.mp4
Discussion
Yeah unless they really did their homework and spent significant efforts building knowledge and conviction, starting on ATH might lead to panicking at the first significant drawdown.
They'll get it.....
...
just have them get some and start getting comfortable with having a wallet somewhere?
he's more like here's a shit load of money and I want bitcoin.
well that IS rather awkward if you've got their fiat...
buy ⅓ of their stack now and sit on the rest
oh, no. I'm not and don't intend to be in the middle. We were just talking and he probably got "it".
It's more about me being uncomfortable with the ATH enter. I'm afraid he could do something stupid like sell it when the price dips...
Just tell them to DCA
And what's the reasonable DCA strategy here?
Let's say you have $1m.
(AFAIK, statistically it's better to go all in).
But if you go all in you wont have the conviction to hold it to 300k
When I was in stonks, I DCAd but at some point I sopped and just went all in for an asset I liked.
My gains were much higher ...
Nobody knows where's the future ATH. Therefore DCA is really important. I started in bearmarket with bitcoin and dca really helped me.
sure, but we don't talk about dca. it's serious amount of czk shitcoin.
I know he can handle anything (we play poker a lot), but he could try to do something stupid like take the "loss"