Number 1 is a little condescending. Care to enlighten us?
What’s the need for alt coins?
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Cognitive dissonance
You have been brainwashed by Traditional Finance and the herd mentality into believing that Bitcoin is very risky, simply because it has gone up so much or that it is very volatile
Have you actually calculated the numbers? Sharpe ratio, risk-adjusted returns, and all that TradFi KPI metrics?
Some have and they are available on the internet
Don't miss the once-in-a-species opportunity for you and your family because you were a fucking pussy to have conviction
Fuck 5% allocation, fuck the re-allocation
Bitcoin is the exit out of the fiat debt-based slave-monetary system. Bitcoin will demonetize all your other assets. They will all go to 0 against Bitcoin
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Its funny when you start talking about Sharpe ratio and metrics. The only driving force behind this stuff is the belief that everyone wants to fight the system. Its comical to watch a bunch of kids preaching TA because there is zero fundamental metrics to analyze. Also zero "need" for BTC, its just a fantastic dream that you are fighting the system and getting rich doing it. It's like signing up to be a freedom fighter because it pays well! There are no fundamental factors for BTC. No earnings report, no supply/demand numbers, nothing to make a price increase justifiable other than mania. That said, I am willing to risk 5% of my current portfolio that it just may materialize because of mass hysteria. I'm starting to go nuts myself.
Most of my family's life savings and net worth are invested in Bitcoin, but paid lower than 60k
The more you understand Bitcoin the higher the allocation
If you ever get there, after 1000+ hours of studying everything about Bitcoin
, then you will realize all of your assets denominated in the ponzi fiat currency debt-based monetary system designed to be debased (devalued) by the (world's) central bank are very risky
and Bitcoin is your exit out of that and the asset that will save you from the fiat-Matrix
I’m a cynic ( I try to be). If BTC actually displaces the dollar I’m confident that the same people will somehow be in control of it. If I believed that BTC was really going to disrupt the system like every BTC bull wants you to believe, I would be more concerned with having a clear deed on some farmland, plenty of seed, and plenty of bullets. The technology is great and will definitely solve some problems but the people in control will make sure they are still in control when this is over. It’s my job to use their rules to my advantage. Right now that means maintaining my futures market performance, making my monthly 401k contributions, and shifting a small percentage of my portfolio to a high risk “asset” that has a fantastic risk/reward ratio.
Most of my family's life savings and net worth are invested in Bitcoin, but paid lower than 60k
The more you understand Bitcoin the higher the allocation
If you ever get there, after 1000+ hours of studying everything about Bitcoin
, then you will realize all of your assets denominated in the ponzi fiat currency debt-based monetary system designed to be debased (devalued) by the (world's) central bank are very risky
and Bitcoin is your exit out of that and the asset that will save you from the fiat-Matrix
This is not 2013 when crypto was new. There are plenty info pro and con available and an average 5th grader can decide for himself, not to mention the crypto history of the last 10 years. Or the Salvador experience. Or every Wednesday when another brokerage goes down. Or the moving goal post, Or the inanity of NFTs.
By now there should be no doubt about crypto.
I can’t tell if you’re pro or con
Actually, most Bitcoiners do not want the btc to replace the $ as it would make the USG as a big enemy and would most likely ban btc in all forms of usage and ownership
Bitcoiners are perfectly happy to demonetize the US $ and all global fiat currencies, as well as all of your assets, stocks, bonds, real estate, art, etcetera
https://www.pricedinbitcoin21.com/landing
No it doesn't, but what it does show is that you can't assume that the market cap is necessarily anywhere close to the price that was paid in to get ownership of that asset.
To quote from earlier in this thread "A quick google search tells me that currently 0.11% of the world’s money supply has been converted to BTC. "
It might theoretically be valid to take a market cap an say that's what it might cost to buy it all up, but it's certainly not accurate to take a market cap and assume that's what was paid.