Been in the space since 2017. Lost a lot of cash then started learning. Hodl is the way my friends. Interestingly my wife seems to be the best indicator of the market to the general public. Whenever she asks me 'how's the bitcoin doing?' I answer "why?" And she's like 'elon something,' or 'i read its up, what's it worth?' I know its time to expect a dip.
Conversely when she says ' I heard it crashed again, should have sold ' I know its time to buy. Its hilarious. Its like having public sentiment in my house.
I simply do not feel comfortable talking to anyone I know about this nor do I think anyone I know could relate. My hope is someone here understands.
This recent crypto correction has put me near 30% off the top of my portfolio... and this is by far the most money I’ve ever had in my life.
And what I can’t believe is that I can still fall asleep at night and make it to the gym in the morning. How am I numb to my portfolio swinging more money than I’ve made in my entire life.... in a matter of a couple days. I feel blessed to say the least. 🙏
How do you justify it? I’ve been told many times that it’s not a good idea. Still do it tho 🤪.
Hi guys happy hodling and trading! Hope you are doing ok.
As I always explain, I'm a Venezuelan "living" here.
Lower volume in BTC but still around 5-6 million USD weekly, that is way, it is constant in USD not BTC. So many years since we are under 100 BTC weekly, I think some people that use LocalBitcoin are moving to Binance, that is just my explanation without any proof.
People that usually trade are mostly miners, people sending remittances and store owners getting rid of their bolivares and even the goverment/military as well. Considering the low minimum wage, forget that people using crypto, it is impossible for them.
If you want to know something ask me anything. Here the economy is a mess, so many poor people and a lot of people surviving! I have gotten even puntual work from some redditors since I started posting here, what a great community.
And MOONS (cryptocurrency subreddit), wow, have helped me a lot (Sadly I have to cash out).
Sources:
https://www.usefultulips.org/combined_VES_Page.html
https://www.caracaschronicles.com/
The economic landscape in the United States and around the World is currently in a fascinating place, and it seems as if a perfect storm is brewing:
I have no idea what will happen next. I have no idea where Bitcoin fits into all of this. We are living in one of the most interesting times in human history, and the story still has many chapters to go.
I am tired of people defending Bill Gates and saying things like, "Microsoft uses open source development and accepts crypto" or "He is looking out for small investors by warning them against volatility". Microsoft is adopting these things because their attacks against them failed. Where was Bill when small investors were getting wrecked in the stock market or losing their pensions? Where was his love for open source when Microsoft attacked open source licenses? Let's take a look at the history of Bill Gates and Microsoft regarding open source and crypto:
If I missed anything let me know and I'll add it to the list maybe.
TL;DR Bill Gates does not have your best interests in mind.
EDIT: For everyone pointing to Bill Gates and his philanthropy, I could do another full post about how corrupt his foundations are. He is taking resource rights away from local businesses in third-world countries and disenfranchising family owned farms. This is all paving the way for large corps to control and sell the resources of a country instead of the local population (all under the guise of feeding the world). If it was appropriate for me to post a timeline of this as well, I would. But this ain't the sub for it.
Guys I'm so broke, but 50 bucks here and there from paychecks and I've got my .01
Andreas Antonopoulos brought this up in a recent podcast. Bitcoin's narrative has shifted a lot from banking the un-banked, and replacing old corrupt institutions.
Now, the community is simping for these same corrupt institutions, as soon as they started pumping the price. I can guarantee, these institutions do not care about Bitcoin's censorship resistance, decentralization, or about banking the un-banked. They've just bought Bitcoin, then created hype so that their own investments can go up.
These institutions will not support changes that improve privacy, as that makes it harder for regulators. They will try to "normalize" Bitcoin into traditional systems. For example, Michael Saylor has said that Bitcoin isn't meant to be used as a currency, he said its just a store of value and a gold replacement.
He's trying to make it fit into traditional systems. So called "normalization of Bitcoin" is bad. People are trying to make it fit into the same institutions it was meant to replace.
This institutional investment into Bitcoin is only good, if the only you care about is the price of Bitcoin.
This community overall has also degraded to where all anyone talks about is these institutions, and the price.
This hype cycle will eventually die out, and the people who care about price will leave. The people who care about price will sell, and then the big institutions will also panic and sell, and 2017 will be repeated.
To anyone who is newly into to Bitcoin and bought hoping the price will go up, I don't want to attack you. Instead, I highly encourage you to learn more about what Bitcoin, and cryptocurrency in general is. Learn about how it works, and what problems it actually solves.
Saw an elderly man (maybe 65-75) today at the grocery store in a Bitcoin shirt. Didn’t say anything the first time I saw him but told my wife and was like “adoption, that man gets it”.
Later seeing him at the checkout, I told him I love the shirt and he replied “keep stacking”. That’s why I’m a believer in Bitcoin bc if the older generation is starting to get on board and adapting then we have even more growth in our future, so from the guy at the store, Keep stacking.
Behind a bull run...few things make me happier than when this baby stabilizes. Just had to say it, no one around me even cares.
Why does he feel the need to take time out of his day to tarnish bitcoin? Is it just a celebrity/important person thing to take it upon themselves to vocalise their opinion, or does he have some kind of incentive for doing this?
I see a number of posts on here about people hiding bitcoin purchases from their spouse (married significant other). Or how people are upsetting their spouses with their bitcoin purchases.
This is not a bitcoin issue. This a marriage issue.
Take the time to work an intentional plan with your spouse. Set goals. Make a monthly budget. And decide what to do with your money together.
Your financial life is much more than just bitcoin. And you and your spouse should be working as a team.
If you disagree on allocation into bitcoin, talk about it. Set a plan where you achieve your financial goals together, and teach your spouse how bitcoin might be part of that. And be open minded enough to understand that your spouse has goals that are more than just stacking sats.
Heyyy dear people I had to share this one for my community 🥴 I got accepted to a job which pays in BTC 😬 it’s a costumer service at a Bitcoin Exchange in Tel Aviv right in the middle of this precious city. It’s my extra job with 5 hours shift & they pay in BTC which I get to chose the percentage for cash or BTC, it’s a life changing to me because I always invested with little money on crypto and never had the opportunity to invest bigger amounts 😕now I have this opportunity to keep 100% of my payment to BTC and start collecting those within time 😀😀😀 I’m obsessed with crypto and Love so much it’s Idea and it’s potential it has. so just wanted to share with you this one I had in kept in my stomach and wasn’t sure if to publish it or not, but YOLO 😚😚 thanks for reading, hope everyone here will get paid in BTC !!
1) I did my homework...I know where this is going, so day to day or even month to month values mean next to nothing to me. I have literally gone months without even looking at the current value. In 2018 I had no clue it had dipped below 4k.
2) This was always a long play for me...buy and hold...for years...not weeks or months. This isn't a get rich quick game for me...that being said I will likely be able to retire a few years early because of it.
3) Bitcoin isn't going to zero at this stage. If you don't know why that's true, then you don't understand network effects and Metcalfe's law. If it's not going to zero its going to go a LOT higher.
4) It's not going to get banned in the US. It will get regulated. Thats a good thing. That will bring in even more institutional investors. Regulation means "legitimacy".
5) Central bank digital currencies are coming. They will have no negative impact on BTC...they will likely drive it even higher by introducing even more people to the concept of digital money.
6) If this goes where I know its going...I'll never need to sell. I'll take collateralized loans against it and earn interest off it. Neither creates a tax event and both allow me to keep all my Sats.
JP Morgan Says Investors Could Make Bitcoin 1% of Portfolios
When I see this type of article it is insane to me when I think back to 2017 when I would see ads on my Facebook feed from JP Morgan talking about how bitcoin was way too risky and could go to zero and recommended customers not add this to their portfolio ever.
Russel Okung is an NFL player who signed a contract with the Carolina Panthers in March 2020. As part of their agreement, part of his wage is paid out in bitcoin.
Russel Okung's comments on bitcoin are spot on:
"Money is more than currency; it's power. The way money is handled from creation to dissemination is part of that power. Getting paid in Bitcoin is the 1st step of opting out of the corrupt, manipulated economy we all inhabit."
"When we are all paid in bitcoin, no one can tell us what to do with the value we create … In a post-fiat world, you won’t have to worry about your labor and time being stolen."
When you have a quarter of the broad money supply being created in less than a year, it is clear that the money printer determines what value is in the first place. If you receive constant government bailouts, either because your company is highly in debt or it secures many jobs, you're never ever going to do anything but to keep your company "system-relevant". You're not going to innovate. You're not even competing anymore.
Debt and the money printer killed capitalism.. risk of investing capital is only for the little guy now because they're not relevant enough for the system. Just give them a shitty paying job that we maintain for them at the mercy of our money printer while asset prices inflate away and out of reach.
The money that's being printed creates more debt than actual GDP. They have to stop but they can't.
