Post
Topic
Board Speculation
Re: Buy the DIP, and HODL!
by
wxa7115
on 23/07/2024, 09:58:56 UTC
I wish I can lay hands on a post that suggest that the way to becoming rich is to master one skill (can be a business, product, act, practice etc) and be efficient in it. The emphasis is on one skill and if you study the rich people of the world, most of them became rich through one product and are known for such product. Just take a mental picture of this, you will understand better. In my state, the richest man in one of the neighborhood deals on umbrella. He is richer than people in oil and gas and even politics but no one could imagine that an umbrella dealer who ship in several containers of umbrella could be that rich. What I'm saying in essence is that people should start focusing on bitcoin instead of this diversification of a thing that can turn out to be a big distraction.

Bitcoin is enough for us here, if we master the act of buying and holding, we might be building wealth that we will be remembered for by generations to come. Imagine when bitcoin hit $1 million, how many people would have been made. It may seem impossible but it will happen, just that no one know when.
I think that it was Keynes that thought that it was better for people to specialize in an economic activity, earn money that way and then use that money to buy whatever they may need, and I agree on principle with that view, since the only successful trader I know does exactly that, as he trades Google and only Google stock.

And while such specialization may seem to take things too far, the guy can recite all kind of facts about Google from memory that I doubt even some of its executives could do so, so by concentrating all his efforts towards a single stock he has been able to obtain the success he is looking for, which is not too different from what many forum members here do, which concentrate exclusively on bitcoin and nothing else.