People have taken the reason Bitcoin was invented completely wrong, Satoshi didnât invent Bitcoin to make you a millionaire in fiat, it was made to BE THE MONEY, you donât âTake Profitâ by selling, you already took profit buying it.
Discussion
imagine selling now đ¤Łđ
like seriouslyâŚfor what???
shelter/food would be the only excusable options to sell for at a time like this
This is why Iâm happy the price is heading up so I can just keep holding and convincing people to take it as currency
EXACTLY!
Yes. To understand Bitcoin, one must understand why money exists and what it represents.
This is the most retarded thing I've ever heard. To assume that taking profit means you aspire to make quick millions on Bitcoin is ludicrous. Taking profit is the habit of healthy investors. There is NOTHING wrong with taking profit here and there, and there is nothing wrong with making 1m dollars on Bitcoin. The idea that "oh im not doing what satoshi wanted" is supposed to determine my financial decisions, is laughable, stupid, and the mindset of someone who likely only has a few hundred dollars worth of Bitcoin anyway.
Wow calm down and breathe man. đśđł
There is a difference between using your bitcoin for something meaningful and selling it for dollars.
If you want to use it, go ahead, but if you think of it as an âinvestmentâ where you can get more dollars, then youâve misunderstood what it is
In other words, your dollars are worth a LOT more in Venezuelan Bolivares. Why donât you take profit in your successful dollar investment so you can get those billions of bolivares?
Right, if youâre using the value/gains of an investment to do something else, great have fun with that.
If you sell a million dollars worth of corn, congratulations. Now whatâs the plan? Because youâre now the proud owner of a highly depreciating currency that needs to be put somewhere so it doesnât melt on you, oh and it was already in the hardest money ever discovered.
đŻ Never selling. Only trading for very valuable stuff.
Saving or Spending is fine like wine.
Selling is selling out.
Exactly right.
Does anyone sell bitcoin to just hold literal cash? You can sell bitcoin and invest in stocks or real estate for example, for diversification purposes or income-production.
But why would you diversify into something with counterparty risk and that can be inflated away from something that has no counterparty risk and is perfectly scarce?
Still aren't understanding, it isn't an investment. It's a money. The entire apparatus and culture of "diversify your investment" is a product of a shit money system that we've grown up in. It never made sense and is nothing but a pointless, wasteful friction.
"Perfectly" scarce is a bit of a stretch. It is scarce by consensus, and yes that is a pretty strong convention. Perfect, maybe not. It's OK for people to have doubts. Consensus can be gamed. Especially if we are not careful. Indeed the chain could split due to conensus gaming. I am quite sure there are those that would like to see that happen. And it has happened before, almost fatally. We need to stay humble and avoid being complacent on these issues.
Itâs simpler than that though. Bitcoin is 21 million and itâs perfectly scarce because of that explicit limit. I run a node, therefore no one can say that anything is different.
Bitcoinâs consensus is and will be defined by the intolerant minority. I run a node that defines it as 21 million, and anything incompatible with that is invalid.
I think accepting the notion that this is NOT set and determined is itself a mental concession. One that I refuse to give. There is no way to âgame consensusâ and make bitcoin not 21 million, because I will never call anything that changes that Bitcoin. If we accept that this can be gamed, we literally give up leeway to game it. From the POV of my node and my bitcoin, it canât be.
It is arguable that there is still a place for investment (by that I mean, capital outlay in hopes of more capital in return over time) in a civilization and not simply storing all value in money. A prime example is in the case of needing/wanting a way to acquire more bitcoin. Bitcoin does not replicate itself into more bitcoin.
Traditionally stocks and real estate investments have been inflation hedges (perhaps not as good as bitcoin). In particular with real estate leverage via fixed income debt is method to capitalize on inflationary environments.
Taking your thinking to the extreme, every public/private company should liquidate into bitcoin and distribute it among shareholders. As you've said, owning businesses or other assets makes no sense, it is "pointless, wasteful friction"
Only trade hard assets for other hard assets.
DCA makes it a lot easier to hodl. Who knows what my cost is at this point :).
Exactly what I meant, I didnât say not to ever use your bitcoin for anything, that would be ridiculous, I mean if you are âinvestingâ into it in order to just sell it for more dollars than itâs a waste.
Useful comparison! Thanks!
You already [cut your losses] by buying đ
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