With Bitcoin’s 444th death behind us for the moment, this seems like an excellent time to write out some thoughts on the psychology of hodling: how to psychologically own more Bitcoin, or get your Dad to own more Bitcoin. And how to mentally hack the ups and down.
Hi, what is your motive for putting such an effort into convincing investors to buy and hold Bitcoin? You will have no goodwill insurance for the catastrophe if Bitcoin goes bad. If on the other hand it turns out to be a stunning investment you have nothing to gain except the return on your own investment. What is in your effort for you - how do I follow the money in this particular instance?
Minor nitpick on the house value analogy. Real estate price downturns do need to be monitored when not listing property to sell, if you have a mortgage. Maintaining >20% equity relative to debt allows you to avoid private mortgage insurance (PMI) costs.
Hi, what is your motive for putting such an effort into convincing investors to buy and hold Bitcoin? You will have no goodwill insurance for the catastrophe if Bitcoin goes bad. If on the other hand it turns out to be a stunning investment you have nothing to gain except the return on your own investment. What is in your effort for you - how do I follow the money in this particular instance?
Yes!
444 deaths but I’ve never died. (-:
Minor nitpick on the house value analogy. Real estate price downturns do need to be monitored when not listing property to sell, if you have a mortgage. Maintaining >20% equity relative to debt allows you to avoid private mortgage insurance (PMI) costs.