I think all your trading moves should be documented in a file. It sounds like you are always making wrong moves.
But it could be on total performance basis you are still fine 
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Good points.
I always considered two sides: people that just think it increases in value without any real reason and people who believe in the technology. The former group should not be surprised if it goes to 0, as it is just speculation. The latter group have a more advanced understanding of the potential but maybe also risks. What’s interesting is that bitcoin and some other cryptos have a certain scale so that the technology can actually be used. Not necerssarily saying that the tech is particularly advanced or sophisticated, but it has scale.
You mentioned store of value, which could be another reason. But as you point out, the substantial value increase, although positive, is not really a good example of stability and store of value.
Based on what I read and heard in podcasts, BTC infrastructure is a solid (not possible to hack).
But I don’t know why it is not used for making secure payments. It could be that it is not very efficient or something else. But if that were to happen at large scale, then there is potential source of revenue which will generate positive cash flow.
I understand that when someone has fundamental belief in something or is heavily invested , then all counter arguments look like „people crying because missing out“. But I think it’s always good to think about these things.
Otherwise it’s like Hernes birkin bag which also typically maintains value and beats inflation.
Totally agree.
My crypto maxi friends give me use cases of grandmas in the Andes using BTC to pay for fruit, goat meat etc. I tell them this is not a valid use case. The one try at adoption at the country level was a trainwreck.
From memory, the arguments for use seem to die down when BTC is down and rise up again when BTC rises. To me this stinks of shilling and rugs waiting to be pulled. Creating a wrapper of normalcy for clueless people with lots of FOMO. Not specifically for BTC as it doesn’t do as big moves, but for the smaller stuff that, as @Dr.PI noted, are the ones to do 1000x. They make a few insiders a lot of money and lose a ton of money for the rest of the saps.
I’d personally be more positive for crypto if the crypto community wasn’t such a toxic, lies-ridden place where fortunes are lost for the many and made for the few. That, and the conspiratorial pseudo anarchic faux libertarian “theory” regarding states controlling your money etc. I personally like having my money with a strong stable state like CH. I’d also like it if it was with the US, those nuclear-powered aircraft carriers, B2 bombers and multiple re-entry ICBMs will defend the dollar, so they do something for me 
Edit: either way, I decided that if BTC falls below 20k next cycle I’ll buy one just in case.
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Isn’t that interesting that something which was build to remove centralised authorities and regulation is depending so much on government regulation and acceptance to gain further value.
The last leg of price move was driven by ETF acceptance
New leg is driven by US govt support (potential)
I wonder if Satoshi would be happy with all this
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For me what you note is exactly what instantly obliterates any of the pseudo anarchic libertarian “theory”. There are no higher morals anywhere in the space, just plain old grubby hands.
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Anyways.
Let’s see how future unfolds
I would not be surprised if BTC will keep going higher because the probability of asymmetric returns have always drawn people.
I just hope that people like Michael Saylor stop talking about things like „take leverage to buy BTC. Sell home and buy BTC… „ this is not good because he will not suffer much in a crash (not collapse, just a crash) but the average person would.
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That’s the example of the toxicity I was talking about. He’ll be fine, Musk will be fine too, but the poor sap who actually does it could end up on the street. x.com is full of these stories.
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I feel your anger about not having enough Bitcoin.
Bitcoin is peace, Fiat is war.
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Noticed the same at work and with friends.
You have a stack: you love it
Nocoiners: But………. 
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Maybe I can ask for your thought on something. As Michael Saylor (MicroStrategy) announced his plan to invest more in BTC and grow with this strategy. What is the benefit or drawbacks of investing into MicroStrategy shares, instead of investing directly into Bitcoin with a long-term view?
Leverage. I think I read that it has beta of like 1.2 vs. BTC.
Leverage and intermediate levels in the exposure to Bitcoin.
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In this case I did know I would lose money on it. I decided I didn’t want to be involved in crypto. I went against my rule and bought as the timing/potential looked too good to pass up, but then I decided to be disciplined and stay out of the asset class and sold.
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LOL, it’s natural selection, wolves eat sheep, and these sheep are very greedy so we’re not going to cry for them if they are degen enough to sell their house 
. They must be responsible when they presses the button, when we play this game, we must expect to potentially lose.
Don’t forget. MicroStrategy has still the operative business, which generates profit. This may be helpful when bitcoin dunks again.
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Executive decisions. Bitcoin is Bitcoin. MicroStrategy can change their strategy whenever they want and sell Bitcoin and/or develop other activities you might not be fond of. This can lead to both positive and negative outcomes that would differ from the fate of Bitcoin itself.
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Imagine a company who owned 1% of the shares of Amazon, and little else, valued at 3% of the market cap of Amazon.
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Did you pay to AI in Bitcoin for this picture?
always find it somewhat funny when this thread becomes a few no-coiners or doubters talking to each other, while the people that hold bitcoin just stand in the background. especially during an historic bull run.
It is. The technology is extremely solid even if simple in nature (The bitcoin white paper is about 8 pages worth of reading and it has some graphs in it even). That’s why some people saw/see value in it. Obviously it is all dependent on adoption, but any revolution depends on that.
I mean, it is? By definition every payment done in the bitcoin network is extremely secure. Depending on the metric you use it can even be considered more secure than most if not all payments you’ve done in our life (Bitcoin transactions can’t be reversed*). You can argue that it’s not a relevant metric to you or most people and I won’t necessarily disagree with that.
*Any bitcoin payment can theoretically be reversed. It’s just stupidly expensive, and most importantly orders of magnitude more expensive then what you’d stand to gain from such an “attack” so in essence it is the same as impossible. In fact many things in bitcoin are rely on basic economic principles and that was one of the first things that got me interested in bitcoin. You don’t have to rely on people acting in good faith (and growing up only cemented this as important/relevant), in fact the system is designed precisely by taking into account that bad faith actors will exist and will want to act in bad faith and then the problem goes away.
Honestly if you strip all the politics and economic opportunity from something like Bitcoin and focus on the game theory aspect + the little math that it has, it is an extremely interesting topic and I feel like most people don’t really understand/appreciate that. It is a simply genius solution to a rather complicated problem (how to make a 100% trustless transaction between 2 parties).
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