I have lived through number 2, it is real, I have less than half the sats I once had because of it. Bear markets rekt me when daily life fiat needs turned into debt and then that debt had to be repaid and the last asset I owned were sats.
I say this respectfully, was that a critique on Bitcoin or your lifestyle?
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my lifestyle most definitely
My lifestyle and dumping too much of my fiat into bitcoin so that I didn’t have enough short term reserves.