I didn't expect you to say that. This would mean that many of us will grow old and die in a Fiat world. That's unfortunate.
Do you think the Fiat era will last another 40 years?
Why do people want thousands of followers?
I'd much rather have a handful of friends.
In relationships, quality always trumps quantity.
I love the rapport between nostr:npub1s6z7hmmx2vud66f3utxd70qem8cwtggx0jgc7gh8pqwz2k8cltuqrdwk4c and nostr:npub1art8cs66ffvnqns5zs5qa9fwlctmusj5lj38j94lv0ulw0j54wjqhpm0w5 on the Bitcoin Explained podcast.
"Life on the blockchain is rough, and life on the nostr:npub18d4r6wanxkyrdfjdrjqzj2ukua5cas669ew2g5w7lf4a8te7awzqey6lt3 is even rougher."
https://video.nostr.build/316bb8623a0a3eb33c8da2cacb756e00d2cf575702f513d73a544fd2f27c6b42.mp4
Another gem from the same episode.
Listen to the episode to find out more about this feature.
(I think it's pretty cool 🤫)https://m.primal.net/LeWa.mp4
cc: nostr:npub1art8cs66ffvnqns5zs5qa9fwlctmusj5lj38j94lv0ulw0j54wjqhpm0w5 nostr:npub1s6z7hmmx2vud66f3utxd70qem8cwtggx0jgc7gh8pqwz2k8cltuqrdwk4c
note1tnpxfjusj4yzqnks95d76cscd2kp58rlm7xu8cpcnsl7qfhs03ysdw6w2c
Looking back at my investing track record. I'm a below average investor.
I suck at timing.
I suck at position sizing.
I suck at handling emotions.
The only thing that's worked for me is making fewer decisions. My most profitable decisions have been boring and obvious ones that I stuck to for years.
Eg: DCA into the sp500 for a decade.
Staying humble and stacking sats(via DCA) feels like the right decision for me and other before average investors.
cc: nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx
While this statement rings true in an inflationary ecosystem, it might become less applicable in a post bitcoinization world.
Everything has tradeoffs. For long term storage, your first two points aren't applicable.
1. You can do it offline and bring your own entropy
2. Most weather can't get through a block of concrete
3. This is valid risk and needs to be mitigated.
For generational cold storage, how do you argue against a 24 word seedplate stored in a block of concrete?
Stay humble and stack "SATS", not Bitcoin IOUs.
cc: nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx
Getting zaps from random strangers on the Internet is a surreal experience. It's something I hope everyone gets to experience at least once in their lives.
Thanks for the retweet and the sats nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx. I promise to pay it forward 🫡
In investing one would rather be lucky than right 🤞
For those debating whether nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m is a net positive for Bitcoin.
👇
nostr:note13kt5583kxa2gw8jc8mp8trwwz34jnkk8qd2prc6v8mh8r9y0vzsqxwsqmp
It's unfairly effective when it can be automated. You make one decision to DCA and then you are done. You stay consistent by default. In fact you must go out of your way to stop being consistent.
I agree with the sentiment. However here is a more rigorous proof to back your point of view.
Everything is good for Bitcoin.
Saylor is a subset of everything.
Therefore Saylor is good for Bitcoin.
Hence proved. Q.E.D.
I'm not sure I understand your question. To reiterate, I do run experiments but I'm unable to beat DCAing into obvious winners. In fact, in retrospect my biggest losses have been around opportunity cost of not DCAing into assets that I knew would do well.
Eg: DCAing a small amount of $ every month into Bitcoin for over a decade was the obvious, boring thing to do. Alas, it's not something I did.
I love the rapport between nostr:npub1s6z7hmmx2vud66f3utxd70qem8cwtggx0jgc7gh8pqwz2k8cltuqrdwk4c and nostr:npub1art8cs66ffvnqns5zs5qa9fwlctmusj5lj38j94lv0ulw0j54wjqhpm0w5 on the Bitcoin Explained podcast.
"Life on the blockchain is rough, and life on the nostr:npub18d4r6wanxkyrdfjdrjqzj2ukua5cas669ew2g5w7lf4a8te7awzqey6lt3 is even rougher."
https://video.nostr.build/316bb8623a0a3eb33c8da2cacb756e00d2cf575702f513d73a544fd2f27c6b42.mp4
Looking back at my investing track record. I'm a below average investor.
I suck at timing.
I suck at position sizing.
I suck at handling emotions.
The only thing that's worked for me is making fewer decisions. My most profitable decisions have been boring and obvious ones that I stuck to for years.
Eg: DCA into the sp500 for a decade.
Staying humble and stacking sats(via DCA) feels like the right decision for me and other before average investors.
cc: nostr:npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx
I generally agree with that. And nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle highlighted it on the his episode of WBD by pointing out that the finitude of life is what gives it urgency to get shit done now rather than later or never.
To any extent that I have success now in my mid-career, I point a lot of it to my early constraints which were outside of my control. Was homeless as a kid, then grew up in a trailer park, then financed my education through student loans with no family bailout if things go sour. So I had a lot of good things qualitatively (love, support, good values, family and friend experiences, etc), but also a lot of financial uncertainty quantitatively. It was all numbers and constraints by the time I hit college.
So I had to be super serious about college performance, super serious about doing side jobs to pay for it and gain new skills in doing so, super serious about landing good internships and succeeding at them, super serious about my post-college full-time employment, and super-serious about building side hustles alongside my career, which eventually became all of the financial research that I do now.
What I do today in all likelihood would not exist if I were more comfortable and free when I was younger. Those initial constraints were a huge boost. Like an initial cold plunge into life.
It wasn't so extreme that I was like, doomed and without lifelines. Instead it was the right amount of constrained of being shot out of a cannon, but with with like a parachute and a map on where to land.
Can't replicate that. Just have to be thankful for it. Being given the right blend of freedom and responsibility goes a very long way. If tilted too far in either direction, it can become restrictive.
I think we just have to lean into our constraints and try to be thankful for them and learn from them, and also lean into our freedoms and try to be thankful for them and learn from them.
Malcolm Gladwell covers this in one of his books(David and Goliath). He calls it "desirable difficulties". The premise is that surmountable challenges create exceptional people. Examples: dyslexia is disproportionately higher among CEOs. US presidents come from disproportionately higher from single parent households.
what do you think are the reasons for this?