tdtwedt wrote:"How I Made $1 Million On Bitcoin... And Lost It All Again"
Thank you tdtwedt, for another one of your timeless posts about Bitcoin. You always put a smile on my face and a song in my heart!
So, on to the article. Where does the fault lie here? Is there even any fault at all, or is it just the author whining "coulda, woulda, shoulda"?
Mr Johnny-Come-Lately sunk all his assets into Bitcoin in late-2016. He rode it all the way up, and then all the way down. So, checking my price charts, he bought in at the $1000 level, plus or minus $200.
If he had done his homework and studied the history of Bitcoin, he would have realized that Bitcoin has previously had 9 "peak-to-trough" advance/declines in its' short 10 year life.
My conclusion is that he did little or no research, and was instead driven by Greed and FOMO. Plenty of other's have used his same game plan, including a few members of this forum. He no doubt dismissed the advice and guidance from the more experienced members of the Bitcoin-nation.
You can trade Bitcoin (good luck) or HODL and sleep well at night, despite the volatility. Whether he likes it or not, he is now a forced-rookie HODLer, and he is still whining about the potential profits he lost by not selling. This guy probably thinks he is smart enough to sell at the top, but he isn't and he didn't.
What is really ironic is that the author fails to realize that the Bitcoin he bought at the $800-$1200 price point has made a tremendous profit for him. If he doesn't like owning Bitcoin, ring the cash register and get out now while still way ahead of the game. Those of us who believe in Bitcoin don't want him around, period.
I really chuckled about your previous "lengthy" post. I think Bitcoin dropped $400 overnight. The difference between the author of the article and an experienced HODLer is that the author probably soiled his trowsers when he saw the price action. Most HODLers saw it and simply wondered "what happened"?, without any emotional reactions.
Nonetheless, please keep posting. You keep pitching and I'll keep slugging them out of the park.
Before I go, please allow me to beg your pardon. I believe I owe you a toll of some bloody red meat.
I'll stop by Winn Dixie tomorrow and buy a couple of packages of ox-tails. I want to do my part to feed the "hungry maws with eager claws", because I'm sure it is cold and damp under the bridge.