Like I say on an almost daily basis. Change your yardstick.
If the internet and electricity go out. Worldwide. At the same time. You'll have bigger problems to contend with than how do I access my Bitcoin.
Let's assume for a second that the NSA (or other three letter agency) is Satoshi Nakamoto.
All the code that drives the math behind the network has been open source for 15 years and reviewed by who knows how many experts far more qualified than I to find any holes in it. The network has been running for very very nearly all of that time and the security of your tokens and your payments to move those tokens proven many millions of times. Also the security of the hash rate should be clear metric.
Based on all that, and plenty more that could be listed, does it matter that it was a gift from the NSA? What could they do now if they wanted to?
๐ฆ๐๐ฎ๐ฐ๐ธ ๐๐ต๐ฒ ๐๐ค๐จ๐ฉ ๐ฆ๐ฎ๐๐ ๐๐ถ๐๐ต ๐๐ต๐ฒ ๐๐๐๐จ๐ฉ ๐๐ณ๐ณ๐ผ๐ฟ๐
Unless youโre ๐ง๐๐๐ก๐ก๐ฎ lucky, and just happen to buy bitcoin at the bottom of a dip, youโre not going to be able to time the market.
There are professionals who make a ๐ค๐ข๐ณ๐ฆ๐ฆ๐ณ out of technical analysis and trading, and even ๐ต๐ฉ๐ฆ๐บ are often wrong.
So how can you stack the most sats, without even breaking a sweat? The answer is ๐๐ผ๐น๐น๐ฎ๐ฟ ๐๐ผ๐๐ ๐๐๐ฒ๐ฟ๐ฎ๐ด๐ถ๐ป๐ด.
Read on to learn more๐
Dollar Cost Averaging, or DCA, is the practice of ๐ฝ๐ฎ๐๐ถ๐ป๐ด ๐ฎ ๐ฐ๐ฒ๐ฟ๐๐ฎ๐ถ๐ป ๐ฎ๐บ๐ผ๐๐ป๐ ๐ณ๐ผ๐ฟ ๐ฎ๐ป ๐ฎ๐๐๐ฒ๐ โ in this case, spending fiat for #Bitcoin โ ๐ฎ๐ ๐ฟ๐ฒ๐ด๐๐น๐ฎ๐ฟ ๐ถ๐ป๐๐ฒ๐ฟ๐๐ฎ๐น๐, ๐ฟ๐ฒ๐ด๐ฎ๐ฟ๐ฑ๐น๐ฒ๐๐ ๐ผ๐ณ ๐ฝ๐ฟ๐ถ๐ฐ๐ฒ ๐๐ผ๐น๐ฎ๐๐ถ๐น๐ถ๐๐.
But wouldnโt it be better to wait for a dip and ๐ต๐ฉ๐ฆ๐ฏ go all-in? The problem with that is you might miss the dip, and then the price may never go that low again. Or, if you ๐ฅ๐ฐ go all-in on a dip, then it may continue dipping lower for a while.
When you DCA into Bitcoin, you will sometimes buy high, and sometimes buy low, but it all evens out in the long-run. When you try to time the bottom, you may give-in to your fear that the price is going to continue falling, and youโll miss your chance. Or you may go all-in, and then the price ๐ฅ๐ฐ๐ฆ๐ด continue falling, and your bitcoin loses purchasing power until the next bull market.
๐๐๐ ๐๐๐๐ถ๐ป๐ด ๐๐ผ๐น๐๐ฒ๐ ๐๐ค๐ฉ๐ ๐ผ๐ณ ๐๐ต๐ฒ๐๐ฒ ๐ฝ๐ฟ๐ผ๐ฏ๐น๐ฒ๐บ๐. Thereโs no cause for fear, because youโre ignoring the price and buying whatever your fiat can get. And if the price ๐ฅ๐ฐ๐ฆ๐ด drop right after you buy, thatโs okay too, as youโll buy again later and a lower price, and the average price you bought at will still be low.
Donโt believe me? Letโs look at an example of Alice and Bob. They both have $3000 to spend on bitcoin, and they both start on 17 December 2017, at the height of the 2017 bull run. Alice starts buying $10โs worth each week, and Bob goes all-in with the $3000.
What would they have now? Alice would have kept buying until last September, and she would have ๐ท๐๐๐ ๐๐ป๐ฑ๐ฒ๐ฟ ๐ฌ.๐ฎ๐ฒ ๐ฏ๐ถ๐๐ฐ๐ผ๐ถ๐ป. Bob, on the other hand, would only have ๐ฎ๐ฏ๐ผ๐๐ ๐ฌ.๐ญ๐ฑ ๐ฏ๐ถ๐๐ฐ๐ผ๐ถ๐ป.
The only way Bob could have stacked more sats than Alice is if he had made a lucky guess in timing the market, which by definition is merely gambling. But Bitcoin was never meant to be a tool for gambling; ๐ถ๐ ๐๐ฎ๐ ๐บ๐ฒ๐ฎ๐ป๐ ๐๐ผ ๐ฏ๐ฒ ๐ฝ๐ฒ๐ฟ๐ณ๐ฒ๐ฐ๐๐น๐ ๐๐ผ๐๐ป๐ฑ, ๐๐ป๐ฐ๐ผ๐ป๐ณ๐ถ๐๐ฐ๐ฎ๐๐ฎ๐ฏ๐น๐ฒ, ๐๐ป๐ฐ๐ฒ๐ป๐๐ผ๐ฟ๐ฎ๐ฏ๐น๐ฒ ๐บ๐ผ๐ป๐ฒ๐. Would ๐บ๐ฐ๐ถ risk losing that through gambling?
๐๐ผ๐น๐น๐ฎ๐ฟ ๐๐ผ๐๐ ๐๐๐ฒ๐ฟ๐ฎ๐ด๐ถ๐ป๐ด ๐ถ๐ ๐๐ต๐ฒ ๐ต๐ฒ๐ฎ๐ฑ๐ฎ๐ฐ๐ต๐ฒ-๐ณ๐ฟ๐ฒ๐ฒ ๐๐ฎ๐ ๐๐ผ ๐๐๐ฎ๐ฐ๐ธ ๐๐ต๐ฒ ๐บ๐ผ๐๐ ๐๐ฎ๐๐. Itโs fine if you want to gamble by timing the market, but the most important question to ask yourself is whether you want to end up with more ๐ง๐ช๐ข๐ต or more ๐ฃ๐ช๐ต๐ค๐ฐ๐ช๐ฏ. If your answer is fiat, then Bitcoin is only a speculative asset for you, and the question of when you should buy or sell is an educated guess at best.
But if your answer is bitcoin, then ๐ฌ๐๐๐ฃ ๐ฎ๐ค๐ช ๐จ๐ฉ๐๐ง๐ฉ ๐จ๐ฉ๐๐๐ ๐๐ฃ๐ ๐๐ค๐๐จ๐ฃโ๐ฉ ๐ข๐๐ฉ๐ฉ๐๐ง, ๐๐จ ๐ก๐ค๐ฃ๐ ๐๐จ ๐ฎ๐ค๐ช ๐๐ค๐๐ก ๐๐ฃ๐ ๐ ๐๐๐ฅ ๐จ๐ฉ๐๐๐ ๐๐ฃ๐ ๐ข๐ค๐ง๐.
nostr:npub15wasdakjxe2fqwvy4t0pjl3h4eml9yry8gt2chls2a2vjxdvrvgs8ymsy8
What do ๐บ๐ฐ๐ถ think? Are you the kind of person who tries to time the market, or do you DCA?
Tell me in the ๐ฐ๐ผ๐บ๐บ๐ฒ๐ป๐๐โฌ๏ธ, and if you DCA, tell me what platform you use!
Be sure to ๐๐ถ๐ธ๐ฒ๐ค and ๐ฆ๐ต๐ฎ๐ฟ๐ฒ๐ this, so others can also learn why they should DCA.
And ๐๐ผ๐ผ๐ธ๐บ๐ฎ๐ฟ๐ธ๐ it so you can find it easily later!
Even time, as in our lifespan might not be finite or at least less limited in our own lifetimes. Leaving only one.
Mmmmm carcinogens......
I'm always happy to be convinced of the use case. I just don't see it. Writing data to the blockchain, cool, I see that. Writing jpegs to the blockchain, what's the point? Not saying it should be banned or censored or anything like that, its free market economics in action. Someone is willing to pay to get their jpeg written so it is being written, I just don't see the point in it all.
Both
Builders gonna build.
Distractors gonna distract.
Would you want to trade SATs for coke though?
Likewise Francesco. Everyone was crazy busy but hope to spend some more time with you on my next visit.
Heating the yurt with an S9 running on excess solar power
https://v.nostr.build/zeGd.mp4
There are no guests staying in the yurt today so I'm using it as an office to polish up my presentation for the SWMI bitcoin meetup tonight.
The sun is shining and the batteries are charged so I plugged in my mobile S9 space heater to take the chill out of the air from the night before. Batteries at 27v, panels making 800w of power and the miner is set to 500w. Good for about 6 terahash of free heat directly into the yurt thanks to the sun. Doing my part to keep the network decentralized and transactions time stamped all while getting 500w of heat out of the deal.
I also have a miner dehydrating squash seeds and simultaneously heating my house as well as a miner drying my laundry. Max hashing!
#homesteading #permies #permaculture #selfsovereignty #meshtadel #bitcoin #bitcoinmining #plebminer #homemining #doublespendenergy #hash2heat #mine4heat