10 Things You Need To Know About Bitcoin #7: Bitcoin For The Long Term | 022
Zoom out. Short term price moments are noise. Long term appreciation is the signal.
One Way Ratchet · Dan Felger, Trent Nutting
November 19, 202345m 19s
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Show Notes
Dan and Trent break down the importance of a long-term mindset in Bitcoin.
- Bitcoin price can be volatile over the short term, but over time the volatility is to the upside
- In past 13 years, Bitcoin has been by far the best performing asset class in 10 of the years, and in the other 3 it was the worst
- In previous cycles the halving has kicked off a massive bull run. Prices goes up a lot, but then corrects - each time to a much higher low. The floor keeps rising
- Halving cycles. Price at halving keep rising
- Big majority of Bitcoin held by strong hands with no intention of selling. The number of liquid coins is very low. This also drives large price moves
- It all gets back to time preference and long term thinking
- So many people want get rich quick, to take a short cut, not a long term commitment
- Bitcoin is proof of work - and what you put into learning Bitcoin you will get so much more in return
- Building anything of lasting value takes time and work - always has been
- Today’s song: Good Times Bad Times by Led Zeppelin
Topics
bitcoin