Oddbean new post about login | logout I find the "price you deserve" especially noxious. Does someone deserve cheaper Bitcoin because they were in their 30s in NYC or Berlin in 2010 and had a couple grand to dump on a speculative asset? Like, dude.
That's like how they give poor people Bitcoin and then they're like, "And then they just turned it into USD and spent it!" ☹️ Yo, he bought food with it and paid his electrical bill, so that the refrigerator stays on and the food doesn't spoil.
you're right, though i also deeply dislike "you were just lucky" accusation, as if it wasn't a very emotional ride, and holding through all the FUD campaigns, dumps, altcoin hypes, leveraged daytrade nonsense, crashing and robbed exchanges, was just easy like that 🤷♀️
This is truth. Many early adopters were trolled, trashed and dumped on, and that wasn't easy to take. I can't even begin to count the number of times I've heard "bitcoin is only for stupid cucks gambling". The Same fucking situation with Nostr in like 2020-21, "you dumb bitch, that nostr thing is going nowhere, its unusable and useless" if you can handle people continuously shitting on you for years, its not about luck anymore. Early adopters always get the brunt. Conviction is not about "luck". Hanging on is difficult and you have to be okay with social rejection 1000x.
Risk taking is about luck, 20%. The rest is about persistence, making choices, .. I was lucky to know about it, but then not selling it when I made 5x (which I did a bunch of times), saving half of my income to buy Bitcoin, go Bitcoin only. There was no luck in it, it was systematic and anti hedonistic. There was nothing sexy about going to a Bitcoin ATM while everyone was vacationing in Thailand. I don't like the "at the price they deserve", because I think the price is a much better deal now. Even though it's more expensive to buy, there's also a ton less risk. 10 years ago it was still possible it will lead nowhere and we'll just have to lick our wounds and move on. Now it's sixth largest reserve asset in the world and you are buying something that works and will not go away. Risk adjusted, a much better deal.
Nah. I have many friends who could get in and around 20k per coin and which is insanely cheap for corn. They didn’t. I was buying at $60k. First time I got curious about Bitcoin it was around 800 bucks. I didn’t buy anything until it was 8k. And even then I didn’t appreciate it and was playing with shitcoins instead of stucking. If I bought at 800 bucks I would sell when it got to 10k. Most of us if we got early we would sell it by now. People who got in very early and still hold most of it are OGs and if not them Bitcoin wouldn’t go as far as it went. Holdlers set the floor and their conviction is why many of new people didn’t sell when bear market was bad. There is people who drive shitty cars, dont go for nice holidays, dont buy trendy clothes, dont go out often, to stack more today, at these prices. They live cheaply, they want to have better future. Some stack for the children. You get Bitcoin at the price you deserve.
Caught up with a buddy this week whose roommate was mining in 2011. He sold it all and blew it on all the trappings life has to offer. He was in super early, but never understood it. He had to get it at the price he deserved with the rest of us. Almost all of us have a story of hearing about it 10 or more years ago. The information was always there, we just didn’t do the research. It’s worth internalizing.
I regret nothing. Its gonna take me years till im rich. If healthy I will get there one day. I want to retire before im very old, so I try to stack as much as I can. I dont see a better plan. Sometimes I stack less, I want to live also. Learning new skills in case this thing fails. If it doesn’t, great. Its been hell of a journey
I’m with you man. I’m fortunate enough to make a good living, have a wife onboard, and having a family on the way, I’ll take another 5 years or so of work and the ability to walk away over 25 years of dread on a hamster wheel never knowing if I’ll have enough to make it later in life. Could I have been done now if I took that 4 figures in BTC in 2014 instead of dollars, probably. But I’d have blown it when it 2x’d and probably gone into full BTC derangement syndrome.
ALERT! High Signal Detected. I just started staking at the all time high, down all the way to 58k (believe it or not). Thanks to all you psychopaths, I have 0 fear and am actually happy everytime it drops. I even dream of sideways action for a long time. Different mindset I suppose.
