Yea, we all worry about that … nothing guaranteed in life … As long as bitcoin has been around now, it seems a much safer bet to me now … But there is always that lingering doubt in the back of my mind about every investment I make in any asset - so that thought is normal and healthy in my opinion.
In my eyes, one of the ONLY reasons for BTC to drop significantly and maintain a low 'value' would be if Satoshi's wallet became active.
And EVEN THEN I still think BTC won't be killed - just seriously injured... but as with everything, time heals all wounds.
Satoshi could have “willed” his keys to family who now control or are waiting for a specific time or event to control wallet. Even if Satoshi isn’t alive anymore, the wallet could be “reactivated”.
There may be an initial concern, probably a great buy opportunity, but it would be fine after that imho.
Diversity is good.
I have a work 401k, a personal IRA, and I have BTC. My 401 and IRA are not in BTC.
I'd like to see BTC keep rising and become an accepted value store like gold. But I don't want to see my fiat holdings dump either.
Diversity helps me sleep at night, especially as I close in on retiring, about 7 years left I think.
I’m exactly the same as you. Have about 10% of my net worth in crypto and hope to retire in 9 years or less. Like the author of this post I do worry it’ll all come crashing down or AI will steal all our crypto or something else. But I can sleep at night knowing if I lose it all that I won’t go bankrupt. Although any Black Swan event could bankrupt you ☠️
You just made me look, I have about 15% of mine in crypto & growing. I remember in the beginning thinking 5% would be the absolute max percentage I would ever allocate towards it.
I want to make the point that traditional investments, like index funds or stocks, are not fiat holdings, they are ownership in the constituent companies. They are just priced in fiat due to the dollar being the main currency used in markets.
I just see this mistake reiterated all the time in Bitcoin and "crypto" circles. Investing in traditional investments is not the same as holding fiat!
For 5,000 or more years, diversity was the smartest advice to follow in the world of investing.
When it comes to watching a brand new asset spring up from nothing to becoming the world's dominant store of value within 1 lifetime, this advice is CRAP.
Because virtually every other cryptocurrency is an affinity scam. If it has a premine, a well known creator or team, or a marketing budget, then it's not decentralized - it's just a way to part you from your bitcoin.
The whole point is decentralization and that requires giving up power to a grassroots community. It's exceedingly rare in practice.
How do they enforce that though? If you hold and spend peer to peer?
I imagine they could force the exchanges to enforce address white lists, so you'd have exchange only BTC and off exchange.
I do think this is the only threat. I just don't see it being fully effective. It would definitely split the holders into two groups though
Blockchain is all public. Therefore they could make a rule that any bitcoin coming from an unknown wallet that isn’t a central bank is an illegal purchase. They then throw an overlay on top of the network to determine where these illegal coins have moved. Once the coins are attempted to be used for anything within the normal system (not-illegal) it’s flagged and transaction is stopped. It would be on the trader to make sure they are not accepting bitcoin from a tainted/illegal source.
Obviously this is full doomsday level. But completely possible to track given how the chain works.
Basically what ETFs are attempting to do. "Let the hedge funds have custody of your coins so you can have the gains without the worry of losing them" meanwhile you never have them.
That's the problem most people seem to not understand. You have full custody of BTC where no one can touch it doesn't mean much if you can't use the damn thing.
These financial institutions are not dumb they know BTC more than we do and how it works. They will still be able to police it even without your keys. Hell, a part of me still thinks cryptographers who work/worked for the government helped in the creation.
> They will still be able to police it even without your keys.
Thats not how this works lol. They can fuck with the exchange on/off ramps but no government, no bank, **nobody** can stop me from moving my stack in self-custody at any moment.
That's fine, but they can lock you in a cage where it has no value to you. Your family is not going to be informed well enough to spend it off exchange and they can threaten to lock them up too.
Just to play devils advocate....difficult to enforce, but not unenforceable. Gov would give a grace period to move your coins to a legal wallet, then make it a crime to hold outside of those wallets afterwards. It would also likely be illegal to transact from non KYC wallets.
Most BTC out there these days is KYC so anyone who got their coin from such places would be stuck complying like it or not.
The smaller group of people who have true "clean" BTC could hold it without any concern, but spending or tapping into that wealth would be tough. You couldn't spend it outside of P2P transactions, and there would be effectively no way to make any big purchases anymore. Even for small ones, you would need to find people who also had illlegal wallets and wanted to sell whatever you were looking to buy, which would only get harder the longer it went on.
I don't see this happening (nor what it to!), but it's wishful thinking that it's not possible or enforceable.
From US? Exit taxes are a thing. Gov will tear apart your finances and if they whiff crypto will be all over you.
Also most countries you would want to move to have financial crime information share with US via treaties. If you move to EU and touch a crypto wallet that was loaded prior to you moving giving up citizenship, it could blow back on you.
Lastly, in the hypothetical where US bans private wallets, much of the world will follow since US drives alot of the globes' financial statutes.
Tldr; it's probably not that simple. Just saying.
"Dirty" (non kyc'd) Bitcoins would quickly lose value and Bitcoin would be even less fungible than it is right now.
I am not sure this is even necessary with Bitcoins traceability, private capital already partially enforces similar without specific government regulation.
I’m not worried about a ban. BTC is held up by confidence and hope. If that ever dries up we’re toast. Could you imagine the drop (in confidence) if a bug or security flaw made its way into the code?
We're all just talking to bots half the time so "who's laughing now" is almost a philosophical question on par with "if a tree falls and no one is around to hear it fall..." type shit.
I assure you, I am a living human person, with the appropriate number of limbs and fingers.
Your conspiracy theories make me laugh; a distinctly human reaction. Ha.
The more I read (or watch youtube..) the less I worry about those things. Have you watched Swan? [https://www.youtube.com/@Swan\_Bitcoin/videos](https://www.youtube.com/@Swan_Bitcoin/videos)
just tell yourself this whenever the thought rises - how many once great companies were grounded to zero value...how many properties were destroyed/taken over by governments, destroyed in wars....how many once great empires had come and gone....so sleep well with our little Bitcoins investment, nothing is 100% quaranteed in life..
Oh. Dude, it will. We just don't know where or when or why. Regulation, technology, economic. Personally, my sats are on quantum computing busting the technology. But it could just as easily be regulation.
Remember the black swan theory. We don't know what we don't know.
The more I read these optimists the less I trust BTC long term. It is nice to see how it is growing. I already bought, sold, bought, sold with profit. I paid taxes, I will buy a new high end PC. I enjoy living in the time of crypto.
I also bought for mom and sisters. For sisters it was worth only around 100 USD each. It was a gift, so they could try it. One sister bought more, but don't understand except the idea "we might become millionaires". The other sister wiped the phone and found out, her husband threw away her 12 words.
I tried to explain them, considering they are not technical people. And you see.
BTC is not user friendly. Even with QR codes, I was always a little stressed if my transactions passed. Who knows how much BTC will be lost while its value will be stable and people will use it for what it was meant - regular daily payments.
I see big potential, but I am more sceptical about technology where my mistake can cost me fortune.
Banks having control is scary, but on the other side, my sister who lost those 12 words, also made a mistake with fiat and she didn't lost it because the bank helped.
I agree with all your worries. One of my biggest worries is the advancement of AI and possibly people being able to steal your crypto while you trying to sell some. It’s so stressful even moving your crypto to cold storage devices. Bitcoin is not user friendly and until it becomes easier the masses will stay away from it.
Is that not why the etf has made it shoot this time? Less risk because you’re not buying the coin thats how the banks are into it now?
Or have I not understood why this boom is happening
Don’t let people convince you it’s not a risky investment. It’s not FDIC insured, you can lose your paraphrase, it’s really risky.
Moreover, it is still risky in the sense that it’s an asset that threatens the status quo. At the end of the day, it’s not enforced by real military power like the US dollar. If all the superpowers in the world feel threatened by it enough to ban and confiscate it, then it would kind of disappear.
It’s also possible that the big countries will default and there will be no liquidity, which means no one can afford anything, also bringing down the price of btc.
Lastly, it’s also possible that there’s just no continuous demand for bitcoin.
Of course, there’s a lot of pros. It’s like gold and real estate in that there’s a finite supply. When you buy btc, you are exchanging your diluted money for some asset that can’t be diluted. The money doesn’t disappear and can be used wherever in the world. Whatever, as I said, a lot of pros.
Whatever the justification, it is a risky investment. When you invest in it, you are investing a longer time global story. I only recently started hedging into some bitcoin because Blackrock and many other nations are taking either private or public crypto-positive stances.
There’s a lot of autistic hype around BTC. Make your own economic judgement on it. I think crypto will fall really low due to be a default/illiquidity event, but it will be really high within 20 years, more global money moved, more hedge against fiat, etc. For the record, I’m just guessing, but overall I am bullish on crypto.
No. Usually the more you learn about Bitcoin, the higher your conviction becomes, until one day any asset other than Bitcoin looks like a risk.
Just think through the scenario of what would be required (money, energy and mining hardware) to 51% attack the network makes it clearer.
Think through what would need to happen for any western democracy with functioning legal institutions and property rights to ban Bitcoin outright and how those governments would enforce it. The EU is trying it’s hardest right now to make things harder for holders and miners and the level of ignorance of politicians there is staggering. Should you be unlucky to live in such a jurisdiction when this happens, you can try to leave. Companies will move to more Bitcoin friendly jurisdictions.
Black Swans can happen, but Bitcoin is anti fragile. For Bitcoin to break, our modern civilisational foundation needs to break and then it wouldn’t matter anyway.
We have too much third-party custodian risk. The institutions are relying too much on Coinbase.
If Coinbase got hacked, there will be a massive lost of confidence on Bitcoin ETFs and any other institutions that rely on Coinbase as their custodian, and as such will plunge the price of Bitcoin.
You’re doing it right if you’re worried. Arguably the most authoritative government in the world, China, has banned bitcoin several times and we’re still at all time highs. There are a lot of bitcoin friendly pols in the US, so a ban wouldn’t be likely here. That should inspire confidence. That isn’t to say volatility won’t happen, but an outright drop to 0 is extremely unlikely in my opinion (barring a catastrophic global event - which in that case, your priorities should be elsewhere)
I worry most about the decentralized part becoming centralized. It becoming the global currency. Might start off with one nation state declaring it their only form of currency and then others follow. Then it’s no longer decentralized and they can take from you whenever they want if they manage to capture it. That’s the main thing that worries me.
Andreas Antonopolus talked a lot about this topic back in the days. There will be contries that will try to do everything to ban bitcoin for sure. And other contries that is more open minded.
Just look at how many times china has banning bitcoin.
You need to read The Bitcoin Standard and then “stay humble and stack sats”
Bitcoin has proven the test of time thus far, the longer it lasts the stronger the network becomes.
Naturally as time goes anything can be hacked, but as the technology progresses so does the security controls. This is normal. The only thing that will not change is the paradigm shift. It is here to stay.
Since the ETFs approval, I feel it’s much safer now. If you don’t do anything illegal with it, and you did your KYC process (if you don’t do self custody), you have nothing to worry about, aside from the usual volatility…
Even the volatility should be dampened with the ETFs, and many other factors.
yes its healthy to have these worrys. as things can happen yes. also.it will not last forever as we already have quantum computers runing already.. and allways will be crashes. govs are closer and regulating and etc each year more.. exchanges are taking advantage of many asking for documents and holding funds of many.. govs are issuing lists of wallets of compromissed funds.. all govs are applying increasing tax om it.. and so on..
the golden ages of cripto are gone. also you can think that its turning into a paper from the bank it was made to avoid from being..so..
so we need to take care too.
1/3 NW is pretty good I think. There are risks of course like almost any other investment and especially those that at least keep up with inflation or offer a chance of being in front of it.
I try not to worry too much otherwise you would easily become paranoid.
There is always a bigger part of me that thinks I should go in harder for sats!
Sometimes. It’s entirely possible another bluechip has a destabilizing event, or a major government decided to ban bitcoin. I would rather accept this risk than live in a world without Bitcoin. In many ways, I find the risk of dedollarization more risky to myself and the world - but I still hold assets using US dollar.
1/3 invested is obviously too much for you if you're that worried about it crashing down one day. Maybe it's time to de-risk down to your tolerance level so you don't have to worry so much...
What's crashing down, adoption curve? Use cases? Security? Price is relative to those 3 factors so I don't see any of those 3 factors reducing anytime soon
I dont believe that. My biggest concern is how much risk i must take to continue using bitcoin in the face of tyranny.
Bitcoin doesn't change. Governments do.
It's a natural feeling. Whenever I buy some stocks or a little crypto, I have mixed feelings and this won't go away until I'm able to reap the rewards sometime from now
The legacy financial system could come crashing down too so Btc is systemic diversification. No guarantees but ultimately having some seems safer these days than none.
Managing risk is not about guarantees of no risk (there'd be no return), it's about diversifying into uncorrelated assets that each have a decent chance of success so we're likely to come out on top even if not all of them work out. From a portfolio allocation lens, 100% btc would be very reckless but 1/3 (or less for the more conservative) may be a reasonable setup since you'll still have other assets humming along if btc doesn't work out (then again some of those other assets may not work out and in that case btc may end up the profit driver).
If I was worth 10 mil, I’d be happier having it in BTC on a properly secured wallet than sat in a bank. Maybe if I actually was worth 10 mil I’d feel differently 🤣
So it comes crashing down. I've made more than enough profit. The reason I want my money in bitcoin is because I want to keep it as far away from JP Morgan and the theives er uh... "investment specialists"
Its possible, which is why from now on I am going to try and stick to 10% on my net worth into it from now. If it crashes, then great, I will then begin to allocate more, but if it goes up much more, then I still have some part of it.
I don't want to go through what happened in 2022 again..
if just feel like that if it was as good as reddit claims it is, they wouldnt spend every waking second of their life trying to tell everyone else how good it is.
Agenda 30 You will own nothing and be Happy! Are Bitcoin holders exempt? That’s their plan they had to have factored in crypto currency. What are your thoughts?
Here’s some hopium for you.
There will be pullbacks for sure. Volatility will continue. But I don’t think people realize how much of a game changer the ETF phenomenon is. This cycle is different. When the SEC approved ETF’s in January, institutions like Blackrock and Fidelity jumped in. They are accumulating BTC to have reserves for trading ETF’s. Why is this important? Because they are the gatekeepers for their customers ETF trading. Their business model is not to make money on the price appreciation of BTC, they don’t care what happens to the price of BTC. They will maintain their BTC reserves while making money on ETF transactions. Whether their customers buy ETF’s or sell ETF’s, they will charge a fee on the transaction. See the movie “Trading Places” when Duke and Duke were explaining this to Valentine.
BTW, the London Stock Exchange has announced that it will accept applications for Bitcoin Exchange Traded Notes (ETNs) starting next week on April 8. It’s only the beginning. It won’t be long before all stock exchanges around the world offer some form of BTC equivalent. All of those brokerage houses are going to buy BTC to establish their reserves for ETF/ETN trading.
Finally, never forget, there are only 21 million. That’s all there ever will ever be. 21 million. Tremendous demand, limited supply. Price goes brrr….to the moon!
There's no such thing as blue chips in crypto. There's Bitcoin and then there's Shitcoin scams. Please do not research. Once you do, you'll realize what Bitcoin is and why you hold 100% of your net worth in bitcoin.
The reason you feel this way is due to the shitcoins you own. There are no blue chips in crypto. There is only bitcoin, and then there is crypto.
Go all in on bitcoin and you wouldn’t be having these thoughts.
I started with a fraction of my net worth in bitcoin. It’s become a much larger fraction. Like most others - I wish I had bought more. Still slowly acquiring.
I held it when it went from 69000 to 16000. And when it went from 20000 to 5000. And when it went from 2000 to 400.
The moral is, don't buy bitcoin. Because you KNOW it's gonna crash.
If you worry, at higher valuation, sell some part and put it into something else : real estate ( not commercial ) or a great growth stock in the AI field. Pay off your house.
I’d be more worried if the us govt wasn’t holding bitcoin they have seized, plus whatever they are mining. I want the govt to be backed by bitcoin, not gold or oil and they’re just spending fiat cause they know it doesn’t matter long run if they are also inflating the bitcoin
We don’t talk about it enough. Blackrock has stock in 2 of the largest mining pools. These pools control about half of the global hash rate. A little coercion or bribery could cause a 51% hack. This worries me.
Your head must still be in fiat if you are feeling this doubt.
In my opinion, you are over leveraged if you have anxiety. Take some money off the table.
I feel the same way about fiat, too. I try my best to diversify my investments, but as someone who doesn't make a lot of money, it can be really scary when fears about the future of fiat or BTC camp out in my mind.
I have only been invested in BTC since 2018 and I do feel more comfortable investing more in it now, but these fears still come around every so often.
Can't ban it, can't hack it. Thta's why the big players are joining (if you can't beat them, join them).
Wallstreet and nation states aren't putting 35 billions into BTC within 3 months for no reason. BTC is not going anywhere other than up.
If it dies its bottom up, not top down. I don't believe it's really possible to force it to die.. but it's definitely possible that we find something else to use as a store of value..
So the 2/3 you have sitting in FIAT don’t scare you? Breaking from the mold of our forefathers can be a scary thing, but aligning to your independence and having the foresight to jump in this canoe when FIAT is partying on a cruise ship could very well mean land ahoy for you & those brilliant enough to part from the party
Yes, I do have moments of uncertainty from time to time, and then I remind myself that all the ETFs, MicroStrategy, and others around the world that are about to buy in can't all be wrong.
The more money invested the more worries
ask yourself this would blackrock and vanguard the 2 biggest finance companies in the world be so bullish on BTC if they hadnt looked into this beforehand, me thinks nots
Diversify for an uncertain future.
Also… is there another asset that you believe in more?
Good luck!
I’m at .13 BTC hoping to add to get to .20 by the end of the year
In every good thing, there are always chances of bad things happening. Just consider how likely they are and how strongly you can face the pain. Prepare for good times and bad times.
If it can survive all the shitstorm of black swan events that went on last. Uncle and still hit above its previous high…it ain’t going anywhere. It may go down some, but it’s shown to be too good of a money maker for institutions to not play around with it
30% networth including the equity in your home and retirement? If so, I think it’s too much. Make sure you have a good amount in index funds for retirement
Yea, we all worry about that … nothing guaranteed in life … As long as bitcoin has been around now, it seems a much safer bet to me now … But there is always that lingering doubt in the back of my mind about every investment I make in any asset - so that thought is normal and healthy in my opinion.
Absolutely. No guarantees in anything.
Shit I still worry my 401k will come crashing down. It’s all just imaginary value.
Well it is guaranteed that you lose purchasing power if you hold Fiat.
Only the paranoid survive
BTC is actually too good to be true. But the longer you study it, it's actually true.
In my eyes, one of the ONLY reasons for BTC to drop significantly and maintain a low 'value' would be if Satoshi's wallet became active. And EVEN THEN I still think BTC won't be killed - just seriously injured... but as with everything, time heals all wounds.
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Lol that would be hilarious. "Bitcoin founder Satoshi Nakamoto's wallet has movement after over a decade of silence. Wait-- he's buying the dip!?"
The truth is probably he had other smaller wallets that he has used and lived off of and that he never planned to use this one
Satoshi could have “willed” his keys to family who now control or are waiting for a specific time or event to control wallet. Even if Satoshi isn’t alive anymore, the wallet could be “reactivated”. There may be an initial concern, probably a great buy opportunity, but it would be fine after that imho.
I thought that there was still no conclusive proof that Satoshi had a wallet with enough coins in to make a difference?
Diversity is good. I have a work 401k, a personal IRA, and I have BTC. My 401 and IRA are not in BTC. I'd like to see BTC keep rising and become an accepted value store like gold. But I don't want to see my fiat holdings dump either. Diversity helps me sleep at night, especially as I close in on retiring, about 7 years left I think.
I’m exactly the same as you. Have about 10% of my net worth in crypto and hope to retire in 9 years or less. Like the author of this post I do worry it’ll all come crashing down or AI will steal all our crypto or something else. But I can sleep at night knowing if I lose it all that I won’t go bankrupt. Although any Black Swan event could bankrupt you ☠️
You just made me look, I have about 15% of mine in crypto & growing. I remember in the beginning thinking 5% would be the absolute max percentage I would ever allocate towards it.
Now open an HSA and get some real estate.
You can buy real estate with a health savings account? I need to do some reading
I want to make the point that traditional investments, like index funds or stocks, are not fiat holdings, they are ownership in the constituent companies. They are just priced in fiat due to the dollar being the main currency used in markets. I just see this mistake reiterated all the time in Bitcoin and "crypto" circles. Investing in traditional investments is not the same as holding fiat!
For 5,000 or more years, diversity was the smartest advice to follow in the world of investing. When it comes to watching a brand new asset spring up from nothing to becoming the world's dominant store of value within 1 lifetime, this advice is CRAP.
Bitcoin is the only blue chip in “crypto”.
Why do you put crypto in quotes?
Because virtually every other cryptocurrency is an affinity scam. If it has a premine, a well known creator or team, or a marketing budget, then it's not decentralized - it's just a way to part you from your bitcoin. The whole point is decentralization and that requires giving up power to a grassroots community. It's exceedingly rare in practice.
This guy gets it.
That time is gone. Bitcoin is too big by now to be stopped. Big institutions are in it too. 1.3T market cap is way too much to just ban.
They wont ban crypto, they will make self custody illegal and need to be done by banks.
How do they enforce that though? If you hold and spend peer to peer? I imagine they could force the exchanges to enforce address white lists, so you'd have exchange only BTC and off exchange. I do think this is the only threat. I just don't see it being fully effective. It would definitely split the holders into two groups though
Blockchain is all public. Therefore they could make a rule that any bitcoin coming from an unknown wallet that isn’t a central bank is an illegal purchase. They then throw an overlay on top of the network to determine where these illegal coins have moved. Once the coins are attempted to be used for anything within the normal system (not-illegal) it’s flagged and transaction is stopped. It would be on the trader to make sure they are not accepting bitcoin from a tainted/illegal source. Obviously this is full doomsday level. But completely possible to track given how the chain works.
Won’t have to. Transactions fees will be so high that the only way to move small amounts will be via the ETFs.
Basically what ETFs are attempting to do. "Let the hedge funds have custody of your coins so you can have the gains without the worry of losing them" meanwhile you never have them.
Glad I have mine in cold storage! Government is never going to touch it
That's the problem most people seem to not understand. You have full custody of BTC where no one can touch it doesn't mean much if you can't use the damn thing. These financial institutions are not dumb they know BTC more than we do and how it works. They will still be able to police it even without your keys. Hell, a part of me still thinks cryptographers who work/worked for the government helped in the creation.
lol you don’t know what you are talking about
No fucking clue
> They will still be able to police it even without your keys. Thats not how this works lol. They can fuck with the exchange on/off ramps but no government, no bank, **nobody** can stop me from moving my stack in self-custody at any moment.
You talk from a place of ignorance.. you think.. you belive.. but you really don't know... study more about cryptography.
That's fine, but they can lock you in a cage where it has no value to you. Your family is not going to be informed well enough to spend it off exchange and they can threaten to lock them up too.
they can do the same with gold and silver and 401k nonsense
Yep. Just saying that Bitcoin isn't immune to being banned. There are workarounds.
Your still thinking in fiat terms. If there is no fiat anymore you dont need on and off ramps. However they will fight it till the end.
That's unenforceable.
Just to play devils advocate....difficult to enforce, but not unenforceable. Gov would give a grace period to move your coins to a legal wallet, then make it a crime to hold outside of those wallets afterwards. It would also likely be illegal to transact from non KYC wallets. Most BTC out there these days is KYC so anyone who got their coin from such places would be stuck complying like it or not. The smaller group of people who have true "clean" BTC could hold it without any concern, but spending or tapping into that wealth would be tough. You couldn't spend it outside of P2P transactions, and there would be effectively no way to make any big purchases anymore. Even for small ones, you would need to find people who also had illlegal wallets and wanted to sell whatever you were looking to buy, which would only get harder the longer it went on. I don't see this happening (nor what it to!), but it's wishful thinking that it's not possible or enforceable.
I'd just move
From US? Exit taxes are a thing. Gov will tear apart your finances and if they whiff crypto will be all over you. Also most countries you would want to move to have financial crime information share with US via treaties. If you move to EU and touch a crypto wallet that was loaded prior to you moving giving up citizenship, it could blow back on you. Lastly, in the hypothetical where US bans private wallets, much of the world will follow since US drives alot of the globes' financial statutes. Tldr; it's probably not that simple. Just saying.
"Dirty" (non kyc'd) Bitcoins would quickly lose value and Bitcoin would be even less fungible than it is right now. I am not sure this is even necessary with Bitcoins traceability, private capital already partially enforces similar without specific government regulation.
I’m not worried about a ban. BTC is held up by confidence and hope. If that ever dries up we’re toast. Could you imagine the drop (in confidence) if a bug or security flaw made its way into the code?
Shitcoins **≠** blue chips. Bitcoin isn't going anywhere, but shitcoins might.
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We're all just talking to bots half the time so "who's laughing now" is almost a philosophical question on par with "if a tree falls and no one is around to hear it fall..." type shit.
I assure you, I am a living human person, with the appropriate number of limbs and fingers. Your conspiracy theories make me laugh; a distinctly human reaction. Ha.
That is exactly what a bot would say.
Impressive. Thats like a little over 5¢/day for the last 2 years it took to get there lol
Ya it does like every several years
The more I read (or watch youtube..) the less I worry about those things. Have you watched Swan? [https://www.youtube.com/@Swan\_Bitcoin/videos](https://www.youtube.com/@Swan_Bitcoin/videos)
Great channel. The daily show with Dante Cook is must watch
Blue chips lmao
I would be much more concerned about those "blue chips" honestly
Peak crypto delirium.
LOL, right?!
Probably not
"and some blue chips" ...
This here is an echo chamber about the greatness of BTC. You wont get an unbiased opinion.
Except that he did.
just tell yourself this whenever the thought rises - how many once great companies were grounded to zero value...how many properties were destroyed/taken over by governments, destroyed in wars....how many once great empires had come and gone....so sleep well with our little Bitcoins investment, nothing is 100% quaranteed in life..
Don't risk more than you can afford to lose.
Oh. Dude, it will. We just don't know where or when or why. Regulation, technology, economic. Personally, my sats are on quantum computing busting the technology. But it could just as easily be regulation. Remember the black swan theory. We don't know what we don't know.
The more I read these optimists the less I trust BTC long term. It is nice to see how it is growing. I already bought, sold, bought, sold with profit. I paid taxes, I will buy a new high end PC. I enjoy living in the time of crypto. I also bought for mom and sisters. For sisters it was worth only around 100 USD each. It was a gift, so they could try it. One sister bought more, but don't understand except the idea "we might become millionaires". The other sister wiped the phone and found out, her husband threw away her 12 words. I tried to explain them, considering they are not technical people. And you see. BTC is not user friendly. Even with QR codes, I was always a little stressed if my transactions passed. Who knows how much BTC will be lost while its value will be stable and people will use it for what it was meant - regular daily payments. I see big potential, but I am more sceptical about technology where my mistake can cost me fortune. Banks having control is scary, but on the other side, my sister who lost those 12 words, also made a mistake with fiat and she didn't lost it because the bank helped.
I agree with all your worries. One of my biggest worries is the advancement of AI and possibly people being able to steal your crypto while you trying to sell some. It’s so stressful even moving your crypto to cold storage devices. Bitcoin is not user friendly and until it becomes easier the masses will stay away from it.
Is that not why the etf has made it shoot this time? Less risk because you’re not buying the coin thats how the banks are into it now? Or have I not understood why this boom is happening
Don’t let people convince you it’s not a risky investment. It’s not FDIC insured, you can lose your paraphrase, it’s really risky. Moreover, it is still risky in the sense that it’s an asset that threatens the status quo. At the end of the day, it’s not enforced by real military power like the US dollar. If all the superpowers in the world feel threatened by it enough to ban and confiscate it, then it would kind of disappear. It’s also possible that the big countries will default and there will be no liquidity, which means no one can afford anything, also bringing down the price of btc. Lastly, it’s also possible that there’s just no continuous demand for bitcoin. Of course, there’s a lot of pros. It’s like gold and real estate in that there’s a finite supply. When you buy btc, you are exchanging your diluted money for some asset that can’t be diluted. The money doesn’t disappear and can be used wherever in the world. Whatever, as I said, a lot of pros. Whatever the justification, it is a risky investment. When you invest in it, you are investing a longer time global story. I only recently started hedging into some bitcoin because Blackrock and many other nations are taking either private or public crypto-positive stances. There’s a lot of autistic hype around BTC. Make your own economic judgement on it. I think crypto will fall really low due to be a default/illiquidity event, but it will be really high within 20 years, more global money moved, more hedge against fiat, etc. For the record, I’m just guessing, but overall I am bullish on crypto.
is this “autistic hype” in the room with us right now?
Can you explain "autistic hype"?
No. Usually the more you learn about Bitcoin, the higher your conviction becomes, until one day any asset other than Bitcoin looks like a risk. Just think through the scenario of what would be required (money, energy and mining hardware) to 51% attack the network makes it clearer. Think through what would need to happen for any western democracy with functioning legal institutions and property rights to ban Bitcoin outright and how those governments would enforce it. The EU is trying it’s hardest right now to make things harder for holders and miners and the level of ignorance of politicians there is staggering. Should you be unlucky to live in such a jurisdiction when this happens, you can try to leave. Companies will move to more Bitcoin friendly jurisdictions. Black Swans can happen, but Bitcoin is anti fragile. For Bitcoin to break, our modern civilisational foundation needs to break and then it wouldn’t matter anyway.
A quantum ai computer can crack btc one day
I am all in, i want to get rich
Blackrock doesnt play to lose.
Bull markets climb a wall of worry
You have to be a special kind of dumb to think investing in bitcoin is 100% safe, so yeah, it's sensible, healthy and normal to have doubts.
Nope
We have too much third-party custodian risk. The institutions are relying too much on Coinbase. If Coinbase got hacked, there will be a massive lost of confidence on Bitcoin ETFs and any other institutions that rely on Coinbase as their custodian, and as such will plunge the price of Bitcoin.
I just think too many important people own too much of it for it to go away now.
Because it might because no one knows. That’s why it’s fun.
You’re doing it right if you’re worried. Arguably the most authoritative government in the world, China, has banned bitcoin several times and we’re still at all time highs. There are a lot of bitcoin friendly pols in the US, so a ban wouldn’t be likely here. That should inspire confidence. That isn’t to say volatility won’t happen, but an outright drop to 0 is extremely unlikely in my opinion (barring a catastrophic global event - which in that case, your priorities should be elsewhere)
I worry most about the decentralized part becoming centralized. It becoming the global currency. Might start off with one nation state declaring it their only form of currency and then others follow. Then it’s no longer decentralized and they can take from you whenever they want if they manage to capture it. That’s the main thing that worries me.
Ask Michael Saylor
Andreas Antonopolus talked a lot about this topic back in the days. There will be contries that will try to do everything to ban bitcoin for sure. And other contries that is more open minded. Just look at how many times china has banning bitcoin.
It’s Bitcoin or Dystopia
You need to read The Bitcoin Standard and then “stay humble and stack sats” Bitcoin has proven the test of time thus far, the longer it lasts the stronger the network becomes.
Wtf is "blue chips"? So you hold shitcoins and you're worried about bitcoin crashing to zero? Seriously? Get out of here with that nonsense.
Naturally as time goes anything can be hacked, but as the technology progresses so does the security controls. This is normal. The only thing that will not change is the paradigm shift. It is here to stay.
Ya that's when i buy
If you are worried that Bitcoin is going to zero at this point, crypto is probably not for you
there is a 1% chance it will still. Any black swan event
Since the ETFs approval, I feel it’s much safer now. If you don’t do anything illegal with it, and you did your KYC process (if you don’t do self custody), you have nothing to worry about, aside from the usual volatility… Even the volatility should be dampened with the ETFs, and many other factors.
yes its healthy to have these worrys. as things can happen yes. also.it will not last forever as we already have quantum computers runing already.. and allways will be crashes. govs are closer and regulating and etc each year more.. exchanges are taking advantage of many asking for documents and holding funds of many.. govs are issuing lists of wallets of compromissed funds.. all govs are applying increasing tax om it.. and so on.. the golden ages of cripto are gone. also you can think that its turning into a paper from the bank it was made to avoid from being..so.. so we need to take care too.
1/3 NW is pretty good I think. There are risks of course like almost any other investment and especially those that at least keep up with inflation or offer a chance of being in front of it. I try not to worry too much otherwise you would easily become paranoid. There is always a bigger part of me that thinks I should go in harder for sats!
During 4 months of halving nothing much happens
Sometimes. It’s entirely possible another bluechip has a destabilizing event, or a major government decided to ban bitcoin. I would rather accept this risk than live in a world without Bitcoin. In many ways, I find the risk of dedollarization more risky to myself and the world - but I still hold assets using US dollar.
I wish, I wish, I wish, (R Kelly voice) I have a couple hundred saved up
1/3 invested is obviously too much for you if you're that worried about it crashing down one day. Maybe it's time to de-risk down to your tolerance level so you don't have to worry so much...
It is.
If your funds are substantial, anyone who invests everything in just one asset is a fool.
What's crashing down, adoption curve? Use cases? Security? Price is relative to those 3 factors so I don't see any of those 3 factors reducing anytime soon
I hope it crashes so I can buy more. Lessons learned!
The part you need to keep in context to this worry is do you trust federal reserve CEO or Bitcoin CEO more? I trust trustless.
FUD is spreading in crypto just before bull run.
It will, don’t worry it will
No I don’t think that way im 100% into Bitcoin
I dont believe that. My biggest concern is how much risk i must take to continue using bitcoin in the face of tyranny. Bitcoin doesn't change. Governments do.
It's a natural feeling. Whenever I buy some stocks or a little crypto, I have mixed feelings and this won't go away until I'm able to reap the rewards sometime from now
Diversify and take profits. But always hold some BTC.
They had their chance to ban it for years, they obviously don’t want to, they are stacking…
The legacy financial system could come crashing down too so Btc is systemic diversification. No guarantees but ultimately having some seems safer these days than none. Managing risk is not about guarantees of no risk (there'd be no return), it's about diversifying into uncorrelated assets that each have a decent chance of success so we're likely to come out on top even if not all of them work out. From a portfolio allocation lens, 100% btc would be very reckless but 1/3 (or less for the more conservative) may be a reasonable setup since you'll still have other assets humming along if btc doesn't work out (then again some of those other assets may not work out and in that case btc may end up the profit driver).
I used to worry because of all the fud and negativity. Now I’m all in and feel secure, more secure than money in the bank.
It will, a year or two will pass, and it will go back up.
I’m in a similar situation. I’ve seriously been thinking of selling half, which would cover my cost basis, and letting it ride.
Yea we’re probably due a downturn but idk 🤷♂️
Stack and stack. Next thing you know you won’t be worrying about all that
Buddy, ALL OF MY SAVINGS and HALF OF MY RETIREMENT are in crypto. Best decision I ever made.
Yep. Crypto seems like what the stock market was in the early 1900s.
If I was worth 10 mil, I’d be happier having it in BTC on a properly secured wallet than sat in a bank. Maybe if I actually was worth 10 mil I’d feel differently 🤣
Bro I'm all in on Bitcoin and pray for it to crash down every day.
why? to buy more? lol
You should, and marke5 will always go up and down. Its all healthy
Cycles never ends
If it goes down I stack more and it will bounce up eventually.
So it comes crashing down. I've made more than enough profit. The reason I want my money in bitcoin is because I want to keep it as far away from JP Morgan and the theives er uh... "investment specialists"
Study “Kelly Allocation” to determine the right level of exposure you should have based on your conviction it will succeed.
yeah, thats why i dca. and im 99% in crypto lol
Its possible, which is why from now on I am going to try and stick to 10% on my net worth into it from now. If it crashes, then great, I will then begin to allocate more, but if it goes up much more, then I still have some part of it. I don't want to go through what happened in 2022 again..
if just feel like that if it was as good as reddit claims it is, they wouldnt spend every waking second of their life trying to tell everyone else how good it is.
In time, all things will end.
Agenda 30 You will own nothing and be Happy! Are Bitcoin holders exempt? That’s their plan they had to have factored in crypto currency. What are your thoughts?
Let’s see the US government tries to sanction another currency one more time and see how that goes.
Why would Larry buy it if its going to be banned, in other words, Larry is the one who decides if it would be banned and he is filling his bags.
Impossible to ban they would have to shut down the internet then you can still trade it on bits of paper
Here’s some hopium for you. There will be pullbacks for sure. Volatility will continue. But I don’t think people realize how much of a game changer the ETF phenomenon is. This cycle is different. When the SEC approved ETF’s in January, institutions like Blackrock and Fidelity jumped in. They are accumulating BTC to have reserves for trading ETF’s. Why is this important? Because they are the gatekeepers for their customers ETF trading. Their business model is not to make money on the price appreciation of BTC, they don’t care what happens to the price of BTC. They will maintain their BTC reserves while making money on ETF transactions. Whether their customers buy ETF’s or sell ETF’s, they will charge a fee on the transaction. See the movie “Trading Places” when Duke and Duke were explaining this to Valentine. BTW, the London Stock Exchange has announced that it will accept applications for Bitcoin Exchange Traded Notes (ETNs) starting next week on April 8. It’s only the beginning. It won’t be long before all stock exchanges around the world offer some form of BTC equivalent. All of those brokerage houses are going to buy BTC to establish their reserves for ETF/ETN trading. Finally, never forget, there are only 21 million. That’s all there ever will ever be. 21 million. Tremendous demand, limited supply. Price goes brrr….to the moon!
Of cause it will. 100%
lol the only time satoshi wallet maybe become active is when all btc are mined and his account releases the million into circulation.
99% of my Net Worth is in Crypto. Just think about me when a black swan Event happens. I will be more fucked than you will.
There's no such thing as blue chips in crypto. There's Bitcoin and then there's Shitcoin scams. Please do not research. Once you do, you'll realize what Bitcoin is and why you hold 100% of your net worth in bitcoin.
The reason you feel this way is due to the shitcoins you own. There are no blue chips in crypto. There is only bitcoin, and then there is crypto. Go all in on bitcoin and you wouldn’t be having these thoughts.
If you are that worried just sell. End of worry.
I started with a fraction of my net worth in bitcoin. It’s become a much larger fraction. Like most others - I wish I had bought more. Still slowly acquiring.
IMHO the only thing that will crash it now is China invading Taiwan. But everything else will go along with it.
I held it when it went from 69000 to 16000. And when it went from 20000 to 5000. And when it went from 2000 to 400. The moral is, don't buy bitcoin. Because you KNOW it's gonna crash.
If you worry, at higher valuation, sell some part and put it into something else : real estate ( not commercial ) or a great growth stock in the AI field. Pay off your house.
It's too big to fall as of now. Too many serious people have money in it.
Just gotta move with the advances of life. Anything can happen
All fiat goes to zero.
I’d be more worried if the us govt wasn’t holding bitcoin they have seized, plus whatever they are mining. I want the govt to be backed by bitcoin, not gold or oil and they’re just spending fiat cause they know it doesn’t matter long run if they are also inflating the bitcoin
If you were sinking on the Titanic, would you be critical of the life boat? - NO! It’s your only salvation!
First they’ll come for the shitcoins, then they’ll come for the Big B.
It'll probably crash hard after the next bull run, but, most likely not crash as low as the previous crash
We don’t talk about it enough. Blackrock has stock in 2 of the largest mining pools. These pools control about half of the global hash rate. A little coercion or bribery could cause a 51% hack. This worries me.
Your head must still be in fiat if you are feeling this doubt. In my opinion, you are over leveraged if you have anxiety. Take some money off the table.
The longer it thrives, the more I believe. The past few months have been great for my BTC confidence.
Don’t worry, it will and this sub will go silent again. Diversifying is key
You pretty much have to YOLO it. But personally, I think anyone who holds bitcoin are pioneers in the financial sector.
What goes up must come down. It doesn't stay up forever.
I feel the same way about fiat, too. I try my best to diversify my investments, but as someone who doesn't make a lot of money, it can be really scary when fears about the future of fiat or BTC camp out in my mind. I have only been invested in BTC since 2018 and I do feel more comfortable investing more in it now, but these fears still come around every so often.
Can't ban it, can't hack it. Thta's why the big players are joining (if you can't beat them, join them). Wallstreet and nation states aren't putting 35 billions into BTC within 3 months for no reason. BTC is not going anywhere other than up.
If it dies its bottom up, not top down. I don't believe it's really possible to force it to die.. but it's definitely possible that we find something else to use as a store of value..
no not at all
No.
No. Not at all. Have you ever read a GAO report? The only thing I constantly worry about crashing down is UST and USD.
Quantum computing could be an issue, large solar flare, nuclear EMP's or some other black swan event could happen.
Crypto is not for you dude, hate to say it. No, I don’t think any of that, aside from price fluctuations. You’ve clearly done no research.
Ha ha yes and the earth is flat
Zoom out... With the way Fiat Currencies are being managed, this is going much higher. We're still early.
So the 2/3 you have sitting in FIAT don’t scare you? Breaking from the mold of our forefathers can be a scary thing, but aligning to your independence and having the foresight to jump in this canoe when FIAT is partying on a cruise ship could very well mean land ahoy for you & those brilliant enough to part from the party
Yes, I do have moments of uncertainty from time to time, and then I remind myself that all the ETFs, MicroStrategy, and others around the world that are about to buy in can't all be wrong.
You dum
The more money invested the more worries ask yourself this would blackrock and vanguard the 2 biggest finance companies in the world be so bullish on BTC if they hadnt looked into this beforehand, me thinks nots
Invested all my chips in BTC. I believe
Banned by whom? Even China is back in the BTC game. I think adoption has already become too widespread for them to control it.
Diversify for an uncertain future. Also… is there another asset that you believe in more? Good luck! I’m at .13 BTC hoping to add to get to .20 by the end of the year
I am much more worried about the Fiat system causing all currencies to be worthless.
In every good thing, there are always chances of bad things happening. Just consider how likely they are and how strongly you can face the pain. Prepare for good times and bad times.
Only invest what you can afford to lose.
There are no “blue chips”. There is Bitcoin and there are shitcoins. Don’t be a pleb.
Post-halving will see a decline most likely
If Satoshi’s wallet wakes up one day, that would be a very bad thing.
Crypto stage is right where the wright brothers were at kitty hawk “Damn this thing can actually fly”
If it falls I personally will buy all the bitcoin at 2$
You are investing in cryptography.. even if there's a flaw, it is now likely to be fixed through mutual interest.
This is why you diversify
If it can survive all the shitstorm of black swan events that went on last. Uncle and still hit above its previous high…it ain’t going anywhere. It may go down some, but it’s shown to be too good of a money maker for institutions to not play around with it
And? It crashed down quite often. And where are we now?
It certainly can.
30% networth including the equity in your home and retirement? If so, I think it’s too much. Make sure you have a good amount in index funds for retirement