Secretary Janet Yellen on Nostr: A story of a #Bitcoin #pleb and his friend: Back in 2018 I orange pilled with a close ...
A story of a #Bitcoin #pleb and his friend:
Back in 2018 I orange pilled with a close friend of mine. We both lump summed into BTC. Rode the wave up to $13k, back down to $4k. At this time, 2019, I started weekly DCAing. My friend did not, but he held on. Then BTC rocketed to $69k - and I confess that I was euphoric during this run - and then back down to $16k in Dec '22. This drop felt bad, but I knew it was not going to crash to zero. Kept DCAing, lost track of average cost, rinsed out emotion regarding highs and lows and started reading Antonopoulos and Ammous and learning about economics (Austrian school vs Keynes, etc) and the underlying technology powering Bitcoin. The ratio to fiat slowly became irrelevant to me. At this time at the low of the cycle \~$16k, my friend said, "my wife thinks its a scam. I am taking profits and getting out". He also got burned on numerous shitcoins during this period. He treated it as an investment, a way to profit in dollars. This is where we diverged.
I treated BTC as a lifeboat. A savings account that can't be debased. I never sold a satoshi for fiat. Not one. But I do buy things when I can (and immediately replace the sats) and give to my family on special occasions - still trying to orange pill them. I continue to DCA weekly and will not stop until I stop earning fiat. Now my friend looks at this bull run and feels like he completely missed the opportunity. This is because he still thinks of it as an investment where USD is the real prize, inflating his USD stack is his goal. Not mine. Once the mind set flips and the orange pill is deeply internalized, one comes to the realization that **the true prize comes from owning assets that \*cannot\* be debased.**
TLDR: Stack your sats. Don't be concerned with the ratio to fiat. HODL.
https://www.reddit.com/r/Bitcoin/comments/18cp6gv/the_divergent_paths_of_two_coiners/
Back in 2018 I orange pilled with a close friend of mine. We both lump summed into BTC. Rode the wave up to $13k, back down to $4k. At this time, 2019, I started weekly DCAing. My friend did not, but he held on. Then BTC rocketed to $69k - and I confess that I was euphoric during this run - and then back down to $16k in Dec '22. This drop felt bad, but I knew it was not going to crash to zero. Kept DCAing, lost track of average cost, rinsed out emotion regarding highs and lows and started reading Antonopoulos and Ammous and learning about economics (Austrian school vs Keynes, etc) and the underlying technology powering Bitcoin. The ratio to fiat slowly became irrelevant to me. At this time at the low of the cycle \~$16k, my friend said, "my wife thinks its a scam. I am taking profits and getting out". He also got burned on numerous shitcoins during this period. He treated it as an investment, a way to profit in dollars. This is where we diverged.
I treated BTC as a lifeboat. A savings account that can't be debased. I never sold a satoshi for fiat. Not one. But I do buy things when I can (and immediately replace the sats) and give to my family on special occasions - still trying to orange pill them. I continue to DCA weekly and will not stop until I stop earning fiat. Now my friend looks at this bull run and feels like he completely missed the opportunity. This is because he still thinks of it as an investment where USD is the real prize, inflating his USD stack is his goal. Not mine. Once the mind set flips and the orange pill is deeply internalized, one comes to the realization that **the true prize comes from owning assets that \*cannot\* be debased.**
TLDR: Stack your sats. Don't be concerned with the ratio to fiat. HODL.
https://www.reddit.com/r/Bitcoin/comments/18cp6gv/the_divergent_paths_of_two_coiners/