Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

For the time I have been involved in Bitcoin 5 conversions are actually not that many, but as I wrote before I'm not doing it actively...

And of course, in case sirazimuth doesn't talk about being in BTC to anyone irl, I could certainly understand that his count is 0.
But otherwise being in this space for 8 years without infecting anyone with the BTC-virus is a bit difficult to understand for me ...especially since BTC is such a grand innovation...

Maybe my contrast was largely intended to suggest that getting someone into bitcoin might still cause questions regarding how committed they happen to be../.and yeah maybe we are quibbling.. and I know that I touched some folks in regards to my bitcoin discussions with them, and in some of those cases, we are not in very good touch, so I wonder how committed that they might be in regards to if they ever bought bitcoin or if they held onto bitcoin that they said that they bought.

I understand. For sure many newcoiners might not have the battle tested diamond hands that many WOers have.

When it comes to my surrounding I make it very clear that BTC is not a get-rich-quick vehicle. So most of my "conversions" have a time horizon of many years, some even 10-15 years. And I guess I couldn't expect more than that from a newbie.

Of course, I know that these kinds of people exist - but I find people to NOT want to commit to such long time horizons, even if they say that they are ready, willing and able to do it.

When I got into bitcoin (in late 2013) I was thinking 1-2 years minimum... and so I was not even so strict upon my lil selfie as to really lock myself in, and frequently, since about 2017/2018, I tell people that the investment thesis is so much stronger now than it was in 2013, that any of us should be able to attempt to conceptually lock ourselves into a 4-10 year or longer investment time horizon right from the start of getting into bitcoin. I am telling people that because I think that my own conviction has adjusted but also I think that the actual investment justifies the ability to get into it with a 4-10 year or longer investment time horizon.

When I talk with people about this 4-10 year or longer investment timeline, they say the right words like "yes, that sounds right" but I really don't get the sense that anyone really wants to commit to anything that long.. and even 2 years is feeling like a long time for them.... of course, there can be circles in which people have more confidence and are able to show more enthusiasm.. but normies seem to have a lot of reluctancies to really buckle into a long term investment plan that includes bitcoin as one of the components.. whether that is a low allocation such as 1% of their total quasi-liquid investment portfolio or something more aggressive up to 25%.

Maybe my recent interactions are skewing my judgement a bit, because I know that between late 2015 and early 2019, I had quite a few more interactions with people who were more apparently inwardly motivated towards establishing and maintaining a longer term investment thesis in bitcoin, and some of those people were already somewhat predispositioned towards bitcoin by the time that I had spoken with them as compared with folks who seem to be getting a vast majority of information from me or from the contrasting misinformation that they seem to be getting off of mainstream media sources.

I didn't have any time horizon when I came to Bitcoin. It was an experiment, not an investment.

Over the years I learned more about what I got into, and that helped me to get a longtime view.
So like you I developed a longterm view over time. And I see many other newbs for whom that process is similar.

I remember the first (rather young) guy I "converted" complaining after a year that he'd "only" doubled his money and has not gotten rich yet. After hearing such an ungrateful bs, I gave him a proper bat slapping. And he's been a diamond hand holder for many years ever since.

Maybe my surrounding is just special (which I don't believe). But I guess it's more about how I talk to people approaching you.

I definitely make sure to tell them as much as I can about the extreme suffering most hodlers endure(d) during 80-90 % down turns. And boy I have some emotional damage to share Cheesy

After having repeatedly presented this disclaimer absolutely unambiguously, only then I tell them about the possibilities Bitcoin gives you (technology-wise), all while reminding them constantly that everything could go to zero anytime (I know that is almost impossible, but I want them to hold the full responsibility for their decision).

So in short my hook is:
You will take a lot of shit and suffering. It might all be futile. There is no guaranty for any gain. Seeing the proper results will take many many years. Your decision.
... and it seems to work Cheesy