It is dumb to be trading such a valuable asset like bitcoin, especially if you have goals to accumulate more of it rather than getting dollars that may or may not even hold their value.. Of course, we already know that dollars do not hold their value as well as bitcoin, even though in the short term it can be a bit confusing as to which one might be more favorable to hold in the short-term.. .yet at the same time, part of the rationale to not get caught up in short-term thinking in regards to bitcoin is to perhaps recognize some bitcoin attributes that cause it to be amongst the best (and actually probably the best) of the long term storages of value, sound money and/or the one that is not going to depreciate in value especially over the longer time frames, but hey whatever people are going to do what they are going to do when it comes to trading the most pristine asset so far known to man.
Your first phrase truly speaks all about Bitcoin. Why would anyone tend to trade an asset with so much value? This means only one thing, and that is the fact that they don't know the value of Bitcoin which is why they take such a terrible action towards it. One good way to know the value of Bitcoin is by learning about its investment, buy and hodl. 10 years and more would probably show the evidence.
Although not every beginner would want to try it now because they are waiting to see the evidence first. Unfortunate for them when it get to that time, they might end up regretting why they didnt buy now.
.. and scared into being overly conservative. Many times, if folks are having that level of hesitation and trepidation in regards to investing into bitcoin, they likely need to adjust their position size downward so that they are not so worked up about it... Of course, they can continue to learn after getting started and then increase their position size as they become more comfortable.. yet there still is a need to get started and just to start out slow if they are not feeling comfortable.
That is a semantically strong interpretation of the preceding post. I had to think about it for a second and it is true. You are literally gambling as there is value on the table and if it goes up you missed the train because you won't be any more convinced to invest when it went 2x since you have first thought about it. That's probably a fallacy that some call "patiently waiting for evidence". Now if BTC goes to 130k, the people who said they are waiting for evidence will then say they are again waiting for evidence that it doesn't crash.
But if it goes down they might buy, or they might not because they don't see an increase in opportunity, but an increase in the risk for BTC to go to zero.
That makes no sense at all. I understand when someone in 2010 or 2011 said they want to give it a few months or years to see where it is heading. However, not even that is really true as supply-wise people could have bought a substantial part of the supply for literally nothing.
Some will just follow what others do, but for those who want to find out what's right and what is wrong about the buzzwords that bitcoin is often brought into context with, do the research instead of "wait for evidence". I wonder what that evidence would be because in order to assess whether evidence has been provided or not, someone would have to actually understand the bitcoin system. Otherwise, how would someone judge or on whats ground would someone judge whether bitcoin is a viable investment opportunity or not?
I realize there is some fundamental flaw in that way of "waiting for evidence" thinking. Question is, will they realize themselves or miss the boat?