Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
Btcdeybodi
on 23/07/2024, 04:06:06 UTC
Previously I said think about what you decide, that way you will have a strong mentality to face anything in bitcoin investment. People misunderstand and they are sucked in by fud, so don't fall for the talk that says bad things about Bitcoin.

I have observed that Bitcoin is very strong with a market cap that continues to grow, so from here you have to think that every day or every quarter new people continue to join Bitcoin in the sense that they trust Bitcoin more than others.

For that reason, don't misunderstand me because I said think before making a decision. So, that way, long-term planning will run more smoothly without any burden on your mind. Just keep buying and holding, especially since Trump supports Bitcoin, which is the first step for us to see Bitcoin reach $100k.

I would be careful if you are expecting bitcoin's performance or long-term viability is connected with politics.

Sure, there can be some advantages in terms of having politicians seeming to be on the side of bitcoin rather than fighting against it, but any of us might also get mislead if we start to place too much faith in politicians and/or various regulatory outcomes.. whether we are referring to the USA or to El Salvador or any other country.  Sure it is nice that some governments (or some politicians) are not fighting against bitcoin, yet bitcoin surely is not dependent upon politicians and regulations and there might even be some conflicts of interest or even some ways in which politicians and/or regulations that appear to be aligned with bitcoin are not aligned with bitcoin.. which surely many of us even have trouble agreeing upon what is bitcoin or what are the various purposes (and/or utility aspects) of bitcoin,

....so how would we necessarily expect that either politicians or the various regulation that they might propose or support would necessarily be aligned with what might be good for bitcoin, including good for regular and normal people rather than some of the interests that might be pumping certain agendas that may or may not line up well with interests of normal people.. aka normies... including but not limited to self-sovereignty and empowerment that may not even be the same as number go up, which even number go up helps incumbent bitcoiners, but might not be in the interest of good people who happen to be no coiners, low coiners and/or pre-coiners (and might not even know or appreciate that they are precoiners)... in other words, careful hitching your wagon too much to any politician and/or regulatory stance that may well be ambiguous and potentially in conflict with some of bitcoin's already existing qualities.
.

I have been staring at your reply for a while now, not knowing what exactly to write, as you've said it all. Though, they are lots of things on my mind, but I will try as much to make contributions without been to harsh towards politics(because am not a fan).

Firstly, I am not a fan of politics. I really don't know why others still show interest, but I personally find it difficult to believe in all their say, or even bother to listen to what they have to say. The truth is, politics and Bitcoin are two different things that might not work in hand. My reason for saying this is because: Bitcoin happens to be very transparent and open. it is a system of decentralization where power belongs to everyone who is connected. This is unlike politics where power belongs to a certain group of people that categories themselves as same party members or dictators.

Secondly, I am not motivated to invest in Bitcoin because a political candidate is showing interest or has made several promises. I am making my own investment for my own benefits. I think we should be cautious especially when someone begins to make too many promises (with Bitcoin) just to get the interest and vote of the people. I don't support anyone, but I think when promises like this keep coming, then not all would be fulfilled at the later end, leading to so many disappointment.

And lastly, the past and present government(politicians) has already caused enough disappointment by failing to do the needful for the benefits of their nation. Making promises with Bitcoin isn't a green light for me at all. I shouldn't be motivated to invest in Bitcoin just because a politician has it in mind. But Incase those campaign promises becomes true at the end of the day, then it's still for the betterment (benefits) of everyone.
Nobody is saying that bitcoin is relying on some political campaigns to make headlines or saying that without political endorsement of bitcoin by politicians that bitcoin will not keep breaking new heights, and setting records. No that's not the point, the picture I want you to see here is that bitcoin is gradually earning it's rightful place in the society, years ago there was nothing like politicians saying anything good about bitcoin, but today the story has changed, to the point that someone as big as Donald Trump is now building his political campaigns around bitcoin, saying some actual truth about bitcoin. Even though we can't actually be sure that he won't keep his promises if he wins the presidential election. But it is a win situation to the bitcoin community because bitcoin is gaining more grounds, and people who has been less concerned about bitcoin in the past, are now showing interest. People who probably must have not heard about bitcoin are now becoming aware of it. So either ways bitcoin is not losing here, rather it is gaining!!

You've made some good points here because ever since the news about Donald Trump acknowledging Bitcoin in some of his speech has also made the price of Bitcoin experience some significant gains lately since the price movements relies on several factors which means for the fact that Donald Trump who was a previous critics of Bitcoin is now coming open to say positive words about Bitcoin even to the extent of having the intentions of declaring bitcoin as a strategic reserved asset as seen in this link https://www.investing.com/news/cryptocurrency-news/trump-potentially-declaring-bitcoin-a-strategic-reserve-asset-seen-as-a-watershed-moment-3525595 and even chooses a pro-bitcoin activist J.D Vance as his V.C so all this are some of that factors that helps to boost the awareness of Bitcoin the more so I quite understand the angle you are talking about because it's not as if Bitcoin depends on political influence but they are part of what increases the fame of Bitcoin and more people begins to consider to invest in it.