I’m really loving this newsletter Cory! Many thanks from Texas! 99% BTC & 1% Fiat. It’s about more than just being the scarcest asset ever. It’s about freedom, and detaching from the authoritarian extortionist government.
Cory I appreciate the news letter and will subscribe. I bought 25K 0.5BTC on Sunday after waiting a number of days, when it was zig zagging around $49K. The priced dropped to 42K immediately. It is hard for me to understand how this is better than inflation. I lost $5000 almost immediately. If I had left it in cash I would see a devaluation of 15% a year, not 20% overnight. I've bought and sold BTC many times. Every time I buy it, it goes down big. BTC is not for the conservative person. I don't like loud music, loud parties, heavy metal. BTC expects me to have the fearlessness of a young risk taker, motocross rider, high speed skier. I am not into danger sports, that is why I find BTC hard to grasp. I do need help to buy it.
Don't trade it, BTC appreciates 200% a year. Use it as your own bank. Why would you sell an appreciating asset and purchase a depreciating asset. Traders in the long run get smoked. Hold and look at the price in 12 months....then 12 months after that.... 200% per year
As per the other comments, I would never trade bitcoin. Just buy and hold. Your expenses are in Fiat, so you need to be sure to be able to cover those. The excess can be in investments, but Bitcoin is a get rich slow scheme. Historically, no one has lost money over a 4 year period. However, it's also not about getting rich. It's about self sovereignty, the ability to hold an asset that no-one can take from you, the ability to trade without an intermediary. It's about being a free man.
Carlos, like with other investments I recommend you to educate yourself before starting to put money on it. If you dig deep into bitcoin and understand its fundamentals you will know that bitcoin will go up in the long run. Volatility is normal in bitcoin and you need to expect sudden high price drops. The trick is not to sell and wait, leave the money there for a few years and you will see gains. We are here for the long term, probably a 4 years period is good to not have loses.
So my suggestion for you is just buy the amount you are confortable losing with the idea of leave it there for at least 4 years. Don't check the price often and relax. In the mean time keep learning :)
Thanks, sharing this with everyone I meet in El Salvador. I highly recommend doing a FB ad campaign for educating folks here.
Looking forward to this news letter. Thanks Cory!
I’m really loving this newsletter Cory! Many thanks from Texas! 99% BTC & 1% Fiat. It’s about more than just being the scarcest asset ever. It’s about freedom, and detaching from the authoritarian extortionist government.
Cory I appreciate the news letter and will subscribe. I bought 25K 0.5BTC on Sunday after waiting a number of days, when it was zig zagging around $49K. The priced dropped to 42K immediately. It is hard for me to understand how this is better than inflation. I lost $5000 almost immediately. If I had left it in cash I would see a devaluation of 15% a year, not 20% overnight. I've bought and sold BTC many times. Every time I buy it, it goes down big. BTC is not for the conservative person. I don't like loud music, loud parties, heavy metal. BTC expects me to have the fearlessness of a young risk taker, motocross rider, high speed skier. I am not into danger sports, that is why I find BTC hard to grasp. I do need help to buy it.
Don't trade it, BTC appreciates 200% a year. Use it as your own bank. Why would you sell an appreciating asset and purchase a depreciating asset. Traders in the long run get smoked. Hold and look at the price in 12 months....then 12 months after that.... 200% per year
Peter thanks for your reply. I appreciate your advice.
As per the other comments, I would never trade bitcoin. Just buy and hold. Your expenses are in Fiat, so you need to be sure to be able to cover those. The excess can be in investments, but Bitcoin is a get rich slow scheme. Historically, no one has lost money over a 4 year period. However, it's also not about getting rich. It's about self sovereignty, the ability to hold an asset that no-one can take from you, the ability to trade without an intermediary. It's about being a free man.
Don, thanks for your reply. It really helps.
Carlos, like with other investments I recommend you to educate yourself before starting to put money on it. If you dig deep into bitcoin and understand its fundamentals you will know that bitcoin will go up in the long run. Volatility is normal in bitcoin and you need to expect sudden high price drops. The trick is not to sell and wait, leave the money there for a few years and you will see gains. We are here for the long term, probably a 4 years period is good to not have loses.
So my suggestion for you is just buy the amount you are confortable losing with the idea of leave it there for at least 4 years. Don't check the price often and relax. In the mean time keep learning :)
I really appreciate your reply. Thank you.