Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
[...]
The amount of BTC I hold has not changed at all in the last couple weeks. Well it actually went up just a little. Since I have begun to measure my wealth denominated in BTC, it has changed my perspective. These days I think about how much BTC it will take to put my children through college (maybe not worth it, lol), or buy a house or be able to retire. I don't even think about how much USD beyond doing the needed conversion since it's still the unit of account for most.
I have quit thinking about my BTC "position" in terms of what it is worth in USD. I have realized I am not in this to "make money". I am in this to PRESERVE MY WEALTH. And the reason these swings don't do as much to me emotionally as they used to is because I have begun to measure my wealth primarily in the amount of BTC I have. THEN the other things up there come into play. Yes the price fluctuates compared to USD, or houses etc. But I am used to that for now.
To the extent we measure our wealth in BTC, we have lost nothing.
And it makes me happy that the rest of the world sees that as crazy. Not because I want them to HFSP. But because it is a reliable contrarian tell that I am still doing the right thing.
[...]
The amount of BTC I hold has not changed at all in the last couple weeks. Well it actually went up just a little. Since I have begun to measure my wealth denominated in BTC, it has changed my perspective. These days I think about how much BTC it will take to put my children through college (maybe not worth it, lol), or buy a house or be able to retire. I don't even think about how much USD beyond doing the needed conversion since it's still the unit of account for most.
I have quit thinking about my BTC "position" in terms of what it is worth in USD. I have realized I am not in this to "make money". I am in this to PRESERVE MY WEALTH. And the reason these swings don't do as much to me emotionally as they used to is because I have begun to measure my wealth primarily in the amount of BTC I have. THEN the other things up there come into play. Yes the price fluctuates compared to USD, or houses etc. But I am used to that for now.
To the extent we measure our wealth in BTC, we have lost nothing.
And it makes me happy that the rest of the world sees that as crazy. Not because I want them to HFSP. But because it is a reliable contrarian tell that I am still doing the right thing.
[...]
Excellent post cAPSLOCK, as always. Took some parts out to highlight but go and read the whole thing if you haven't already (looking forward to that other lengthy post in the making
)Anyone attempting storing their wealth in something infinitely inflationary is out of their mind. Measuring your wealth in fiat makes no sense since your share is not a constant. It takes time to realize the USD/EUR is the real shitcoin, and all that matters is your share of the Bitcoin network.
As soon as you understand the above, it is not you but the rest of the world that is crazy. Thinking which percentage of your bitcoin you want to allocate to a house or the college of your children, is completely rational. That is how you carefully allocate hard money since you can only spend it once.
This thread is about observing walls but is entertaining and a bit sad there are even legendary members that still don't seem to get it, selling bitcoin for fiat. That sugar rush of a few extra dollars gained will soon fade while the pain of not having bitcoins will last and increase forever.