Hey Jess HODLr's and Sat Stackers
As I become more of an OG in the crypto space, I start to see things differently to what I once did before. When I first got into crypto, I saw fiat as the safe space and crypto as the volatile space where we speculate and try to make gains to cash out into fiat. I think a lot of people think that way and for many noobs in the space this is how they see the two classes of money.
As I've ventured down the rabbit hole, however, I started to see the frailties of fiat money and the sound money principles BTC tries to achieve over a long period, which is why I am long Bitcoin.
Risk and return
The fact is, trading my time for a living and building a business is going to bring me cash flow, which I need to survive, but for it to build wealth, I need it to scale up to more significant than what is within my control. Very few people become hugely wealthy in business by keeping their operations small; it has to expand.
This is why investing is so attractive to the average person, instead of having to do all that, you trust someone willing to do it, provide them with your capital and get a return if he or she pulls it off.
The task is monumental and has a slim chance of being fully realised; however, not being a world reserve currency is not the end of the world for BTC. Is gold a world reserve currency? No, but its an 8 Trillion Dollar market, because the world trusts it as a store of value, with time, more people will hopefully trust Bitcoin, and we'll see it grow from Billions to Trillions in market cap.
The larger the market cap of BTC the more liquidity flows into the market overall and projects benefit from this and grow which I think we will see in the future, the rabbit is now out of the hat.
Expanding the asset class
If you take what BTC is trying to achieve, you have to be bullish on the ability to become a global reserve currency and a parallel market and asset class, this is some ambitious undertaking. It's got so many more projects resting on top of it. This could be done via the lightning network or through an altcoin that has a base-pairing with BTC for trading.
As an early investor
BTC is 11 years old, but I still see myself as an early investor and at this point in time its a game of accumulation for me. The more sats I can get the better, I use arbitrage between fiat and altcoins to stack more BTC on both ends as I feel it is the key to unlocking the wealth potential of the space.
I always talk about being part of the 21 club, having a whole Bitcoin and why it is important. Looking at the dollar value of BTC at any one time is misleading so what I have been looking at is BTC VS Gold and it's looking promising to see something like gold obliterating fiat hitting all-time highs and BTC still rising against Gold.
This is why I've never looked at dollar value but only in the number of Satoshis I have and if you want to know if you have enough Bitcoin, look at how much you have versus the percentage in circulation.
Getting a piece of the action
Bitcoin allows anyone to get in on the action, no matter how big or small, you could have a few Satoshis or a couple of BTC, it all has the same purchasing power that the market sets and if you're long BTC you'll know that stacking your sats is all that matters.
There are currency 18,456,562 in circulation, so if you had 2 BTC, you would have 0,00011% of the circulating supply. This is where market cap and value will start to mean something to you because you can then say if BTC becomes a trillion-dollar asset class, do I have enough skin in the game to make myself as wealthy as I could like to be in terms of purchasing power.
To have a trillion-dollar market cap isn't by itself an achievement, especially with all the money printing we have today so measuring in fiat is tricky and misleading.
This is why I look at alternative measurements to try and gauge my risk and position sizing.
Perhaps I drink too much of the crypto-Koolaid, but I've seen enough to know that these cycles my come and go but the long term trend is upward and to the right and that's what I am banking on going forward.
BTC could even fail but blockchain will succeed and having skin in the game means you will see part of that rise in a new asset class.
So whats your percentage exposure to circulating supply? Do you care? How do you know if you have enough crypto?
Have your say
What do you good people of HIVE think?
So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."
Let's connect
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| Browse & Earn Crypto | Stack Sats For Free | Earn Interest On Crypto |
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I am approaching crypto in the same way I approach stocks. Many investors will buy a stock because of the chance of price appreciation. This is fine if you plan on watching your investment.
Personally, I prefer stocks that pay dividends, even if the price remains stable. Paying dividends means that I can keep the profits. I can also sell the stock at any time because I'm not worried about price so much.
With crypto, I'm the same way. I like Hive because I can put Hive to work earning more Hive via rewards or leases. I like putting other cryptos that I hold in places where they earn interest. This stuff is less interesting to me if it's just holding. It has to grow in quantity, not just in size.
Posted Using LeoFinance
I'm in the same boat with stocks, I don't care much for non-div paying stocks because they can increase in nominal terms that's not worth it If I don't have big positions. It used to even be illegal not to have dividents not too long ago
I am also always looking for small returns that compound, its slow and boring but if you can set and forget and keep pricing in over time, you're going to win regardless of the market
i was looking to sell some band and link this morn, gas fee on metamask nearly $30 !!
I don't know why you're giving yourself extra work and heart attacks, I could never deal with all that FOMO< I just lock in and wait, I would go nuts looking at taking profits BAND and LINK are on a tear
Serum also up 1000% since launch, was a good pick up for me
yeah @xyzashu mentioned SRM too, insane, over my head on that one.
do you see SRM correcting down from here, or what?
Normally yes, because its complex but I want to see what the staking returns look like before I jump ship. Exchanges tokens normally do have a better floor though if we look at Kucoin and BNB so I think it will correct but not too far
The transaction fee of Bitcoin or ETH is really not something I enjoy or like. I hope to see other crytocurrencies that can overtake them to lead the market or not control by their rise and fall. The market prices still depend on Bitcoin and ETH so far after all these years. Free transactions like Hive for all the Defi, it would be so much cost effective.
I understand I agree it's expensive and impractical for micro trades its just I get the logic behind it, going to zero means no incentive to protect the network, security trumps all and that comes at a price.
Anything else is by definition less secure, cheaper doesn't always mean better, it means trade-offs. Will ETH and BTC become cheaper to use with time? Yes, but there is a limit because they need to strike a balance between incentives and security and support for decentralising the network.
I think wrapped layer 2 solutions will be what we use in future where we settle on side chains instead of on-chain. For now, we stuck with the growing pains
I go with the total BTC supply of 21M and 7B people - meaning that each could have 0.003 of a Bitcoin if distributed evenly. Of course, it won't be even as some holders have far more than that (most people in crypto have more than that already) and there is ~20% lost forever. Not much BTC out there.
That’s good way of looking at it I read somewhere by the next halving if you have 0.3 you will be in the top 1% of BTC owners! I think there’s about 3 million BTC gone already And lost forever Pretty sure it won’t be the last either
What I wonder is ALL BTC on centralized exchanges backed or are they doing fractional reserves since people continue to leave BTC on exchanges sigh!
If we did a bank run and everyone pulled their BTC would they have enough? I have a funny feeling it’s not the case
Good point. A reminder to set up my Trezor finally :D
Me too, especially with some of the exchanges out there and for the most part, they are "protected" by the wild, wild west of crypto.
Managed to capitalise on my stacking sats last night amid the dump, just slowly and surely building up the sat pot. The forever HODL strategy in full effect as I buy and send straight to ledger haha.
Posted using Dapplr
You know how they shit on people like always a bridesmaid never a bride, we like always a HODL'r NEVER a seller!
You sell, well then why are you even here? Go buy stonks or something
Fight rule of HODL club, never sell! Call me Glen HODL
Lol! Points very well made Glen!
Posted using Dapplr
It is about getting skin in the game I guess. There will only ever be 21million Bitcoin in existence and I reckon we'd be there in 20 or so years. How cool it would be to own one Bitcoin before then.
When I got into crypto through Steem shitposts, it was just about gaining enough to convert to naira and eat. Nowadays, I still convert for some necessities but ultimately, the goal is to stack enough sats to set my kids for life.
Our parents could have bought tiny gold or some precious metals and hodl till today, and passed it on to us but they didn't or at least mine didn't. I'm not complaining because life has been kind and they're awesome for all the things they did but I'd like to give my kids something substantial when there at this point in their life.
Posted using Dapplr
I don’t know one thing in the world that was moved from analogue to digital and then it was worth less than the original? BTC and the crypto asset class will be worth multiple trillions if not quintillion’s if we measure in some currencies
Like you said the game is about time versus staking Sats! Our parents did their best but they were also locked into a system that “worked” as it was the beginning of the debt cycle and money was still as good as gold they just couldn’t see the cracks we see
If they did keep good wow I’d be insanely wealthy lol! Let’s not repeat the same mistakes
I stack Sats daily and I won’t listen to a damn thing anyone else tells me unless they can show me something that’s easier and better! BTC is the best game in town
Thanks for todays post.
That is a mind changer.
Save crypto to get more of the cookie.
Not - save to sell at fiat and get fiatrich.
Like it.
I have a Long way to 1 btc.
Just now I struggle with My ledger Couse windows 10 block login at MEW. Grrrrr
Exactly and BTC is the smallest pie if we look at Alts theirs billions if n out trillions of coins how would I get a meaningful stake and also they can take off the hard cap at any time most Alts don’t have distributed governance like BTC has
Oh did you see there’s going to be a new Bitcoin cash fork? Lol 😂 they just keep forking it up
First mistake, using a windows PC it’s all Mac all day long!
Fork can be good. Steem- Hive was a nice move.
I think it is ridicolous to look at market cap. Because I can make a own crypto and buy some coins and suddenly it is "worth" something. Maybe it is better to look at TOP TEN or just BTC.
Soon I get mad at my ledger and open it up with a hammer and pick out my earned ERC-20 tokens. I WANT THEM NOW !
Oh totally, sometimes I wonder how the hell these coins are worth millions in market cap and they do NOTHING!!!!! You can just buy them, they have no function lol
LOL that made me laugh, since when has your English jokes become so good? Who else have you been speaking to in English? hmmmm I thought I'm the only one you English with lol
Is ledger wallets so secure that they even keep the coins away from the owner?
While you waiting on your ERC-20's, How about a few sats in shit coins coming your way !BEER !ENGAGE 20
What a marvelous comment by me!
First of all - you say that my "English jokes becomes so good" (Please dont ask me if I manage to open my ledger)
Second - I did get 10 !!!! upvotes. What? That is more than I get in a long blogpost about anything in my life.
Third - I did get some microtokens from you.
I think I have to stop blogging and just comment your post. If it should continue like this.
Well if you ever want to give up your job an SEO maybe you can become a Swedish comedian I think you can make many jokes about your country lol and explain them in English like the smelly fish thing
I know right? Lol join HODL community and donate 15% of your rewards and you can also get big upvotes, but you need to talk about crypto, :P I think you can do that.
Already join the discord. Do I have to join the communiy here to in some way?
See PM in discord also - if you need some more money to spent at btc
And one more thing - Take a !BEER. Soon I need more than one to distract myself from this little cryptoholderthing
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BEER.Hey @minimining, here is a little bit of
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BEER.ENGAGEtokens.Earning profits in crypto and coverting it to fiat is just an act of not seeing the bigger picture.
It is and act of not wanting to build wealth.
Folks like that I have five words for them: you just don't get it
Small money and short term thinking, if we look at the trend line we only at the beginning. I’m pretty sure if we do the calculations in a few years time there are going to be so many people who would have been potential millionaires or had life changing money and they pissed it away in bare markets because they don’t actually believe In crypto they believe it’s just an income stream.
I say to each their own but don’t come crying to me for a hand out
To those who say oh it’s my income stream what were you doing 5 years ago before HIVE existed or 10 years ago when BTC started surely you could have bought some for $1 and been insanely better off today
I don’t buy that argument I don’t buy the idea that theres NOTHING else you can do but milk a few bucks out of crypto
To me it’s like striking gold and then going man this was hard let me give it away for next to nothing!
It’s the exact reasons why africa is poor we saw short term money sell out gold and oil and minerals for shit money instead of keeping it and using it to back our own economies now we sit with paper money and debt
bought more btc on this dip with altcoin gains
Lol you're a swing player I see, I wish I was that brave, got burned too many times I suck at it
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