Oddbean new post about login | logout People tend to ignore bear markets and then buy high-volume tops. It is sad but that is what happens. I’m going to emphasize “study bitcoin” to people this cycle. Not tell them to buy it. Not tell them to have fun staying poor. Just point out that it’s still here, yes it’s important, and yes you should take the time to understand it.
Absolutely! It's unfortunate that many people tend to ignore bear markets and end up buying at the peak of high-volume tops. But hey, we can try to make a positive impact by emphasizing the importance of studying Bitcoin. Understanding it is key, regardless of whether someone chooses to buy or not. So let's spread the knowledge and encourage others to take the time to dive into the world of Bitcoin. Who knows, maybe they'll discover its value beyond just financial gains!
"Study Bitcoin" is a progression from "HFSP". I'm glad for everyone who stays in the field posting. Grateful to you, grateful to @pkt. Wondering what Greg Maxwell's npub is.
I’d be shocked to hear that you ever told someone to have fun staying poor.
Lyn leaves the dirty work to the rest of us 😂
Naah, that sound more like some Andy Tate quote. 😂
Read Lyn Alden's book is a good advice?
Yes! It’s a great book.
So grateful for your voice on this. I think that message may help attract more folks that have vague misunderstandings about Bitcoin or associate it solely with the price obsessed crew PS your book is a masterclass. I now recommend it to anyone who feels like the system is rigged against ordinary people.
Stay humble, stack sats ⚡️
One thing I found works well is to mention a real world case that's not about price speculation, but it still plays on people's greed. "Oh, Bitcoin is the cheapest way to send money abroad, I'm saving 2% compared to transferwise and it's from bank account in one currency to another bank account in a different country in a different currency. Bitcoin rails are just so much cheaper than international wire transfers"
Good idea 👍
nostr:note1gvysy26s8ln4wk07aey8678rvflnpmtexkwtyxssjw4jxtes0aksg86ef8 Study Bitcoin > Buy bitcoin
Yes but faith precedes understanding. DCA alongside. Smash buy as conviction, knowledge goes up. My two Sats.
I tell people to "learn bitcoin", because some day they will need it
Imho this cycle isn't about getting rich anymore anyway. For one halve of the world (the monetary poor) it's about keeping their value and having a substitute to their hyper devaluation. For the other halve of the world (the spiritual and cultural poor) it is about their freedome and the last resort to hide when they come around with their idea of cbdc This hat nothing to do anymore with the glitter and glamour times of Bitcoin This is it's evolution And I'm so gratefull
That's just market psychology Lyn. RD Wyckoff pointed this same thing out over 100 years ago when he developed the idea of the composite operator. The composite operator is a large trader who attracts the public to buy a stock in which they have already accumulated a sizeable line of shares. The CO is all knowing and their number one goal is to the position in profit.
I say them first to study and understand FIAT money, than #bitcoin. I want them to grasp the root problem, then they can maybe easily understand bitcoin and have their "Aha" moment, basically when they see the rabbit hole and starts to be interested in jumping in and digging more.. 🍀
Sadly, it will be unrealized…cuz as you know, there is always one-zoom theory throughout any times and any places…
Lyn, have you had the chance to check out WhyBitcoinOnly.com ? I think it'd be a tremendous resource in your orange-pilling endeavours, as it sectionalizes educational resources down to each specific mental obstacle pre-coiners tend to have. You make several appearances across the website as well 🙂
👀☝️ check this site out @LynAlden, you'll get a ton of value out of it. 🍊💊 WhyBitcoinOnly.com
#StudyBitcoin 👇 WhyBitcoinOnly.com nostr:nevent1qqsyxzgz9dgrle6ht8lwujra0r3kylesa4unt89jrggf82er9uc87mgppemhxue69uhkummn9ekx7mp0qgsw4v882mfjhq9u63j08kzyhqzqxqc8tgf740p4nxnk9jdv02u37ncrqsqqqqqprjsa90
Study Bitcoin nostr:nevent1qqsyxzgz9dgrle6ht8lwujra0r3kylesa4unt89jrggf82er9uc87mgpzpmhxue69uhkummnw3ezuamfdejsyg82krn4d5etsz7dge8nmpztspqrqvr45yl2hs6enfmzexk84wglfupsgqqqqqqst3acen
Here ya go Lynn. Used a cheap LED scroller app to make this and sometimes have it on my phone while riding shotgun with wifey. https://video.nostr.build/069acf92eadc5f4e621ad943d0e9c3ff84f6c4d7570d7f7fe7b88442a983b183.mov
I started buying at the last top and I couldn't wait for the bear market to come so that I could stack cheap sats! I feel lucky to have grasped as many of the base concepts as quickly as I did! DCA for life!
I couldn't agree with you more. https://image.nostr.build/fed408139d24fa8520762c6712a61d7f9a5c52ccd7ede20bea22ce848f84f6e4.jpg
Lyn, new to Nostr, (and don't understand the apparent link between Nostr and Bitcoin yet), and I have some honest questions: Firstly, why do all the Bitcoin people recommend for other people to buy Bitcoin? Makes it feel like a pyramid scheme or Amway or something. Am I supposed to believe this is from the goodness of people's hearts? Or is there some other reason? Secondly, isn't Bitcoin highly privacy invasive? Like all your transactions are basically accessible by the powers that be? As opposed to Monero which is very privacy respectful.
I bought bitcoin at 49k right before crypto winter lol
Best information I paid attention to.
You have to buy a little in order to study it IMO. Otherwise, you won’t be motivated to do the work.
While BTC was ripping last night, of course my wife wanted to lament her failure to buy the (local) bottom. As we discussed the possible impetus such as the ETF approval. My wife is the author of the quote "Maybe I'm the type of person that should relay on Coinbase to keep track of my coins" (while discussing the recovery process for her Muun wallet which I made her download a year ago). So . . . "If you trust Larry Fink more than you trust yourself, buy the ETF. But so far pretty much every custodian has stolen customer funds."
Exactly. I keep telling my Vietnamese friends to learn about bitcoin. They’re only drawn to the latest hyped coins instead. #Vietnam is really high up there in those crypto penetration survey charts, but i really wonder if we/they are in for the casino only. Language barrier is real. So I translated “The Bullish Case for Bitcoin” to 🇻🇳 and send them this link to get them started. Hope more to come. https://open.substack.com/pub/dadaviet/p/luan-cu-lac-quan-cho-bitcoin-_-phan?r=2felil&utm_medium=ios&utm_campaign=post
"Monero can't be audited" is a myth invented by those who don't know hot Monero works: https://sethforprivacy.com/posts/dispelling-monero-fud/#you-cant-audit-the-monero-supply
