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And this is the problem. You shouldn't buy in if you don't understand why you would want to hold it for years and decades. If you're just looking to scalp some
by anonporridge 6y ago
And this is the problem. You shouldn't buy in if you don't understand why you would want to hold it for years and decades. If you're just looking to scalp some gains off the mania, then you're very likely to exit at a loss when you experience your first 30% correction that happens over a couple days.
The best explanation I've ever read about why smart, well educated people can be so diametrically opposed in their opinion on bitcoin, is the level of trust they have in the establishment system. For various reasons in my personal experience and resulting philosophy on life, I have severe issues in relying on systems of human trust. As much as feasible, I don't want to give others power to abuse and use me without my consent, and bitcoin is a vessel of that need. I see bitcoin as a new, incorruptible foundation of trust from which human cooperation can build off and flourish.
If you don't have a similar kind of lived experience, you might not ever understand the value of bitcoin.
Or at least, you won't realize the value until it's too late.