Well, some people play percentage game and they rather have 10k coins than 5k. Cause the former means a place among the 80 wealthiest, and the latter is only a G160 ticket
although if you ( for example ) have 1000 coins, I don't think you will care. Thats why I don't get you playing around onthis forum about buying at 80, 86 , 95 or 120. Even at your lowest estimate of 100K per coin, who cares if one made 99,915 or 98,980 $ per coin?. If one believes in a more moderate estimate of around 1000$, well... then there is more reason to care.
Don't say you get that and then prove that you don't.
Only about 1.5M coins are in fiat-denominated hands like yours. Almost 10 million coins are in coin-denominated hands like mine. I do care if I earn 10,000
BTC with skilful trading before it shoots up, but I don't care a shit whether USDBTC will go to $5M or $1M, because both will be unsustainable long term.
I do get it- you want to beat Carlos Slim.
Please explain "fiat denominated hands" ...
He means that he counts it as a good day if he ends up with more Bitcoin than he started with even if the dollar value of his Bitcoin holding has fallen.
The logic is that Bitcoin will eventually go over $10,000 each. Maybe in 20 years but it will happen. So worrying about whether your Bitcoin have made a profit in dollar terms is meaningless - what you want to worry about it having as many Bitcoin as possible.
I perfectly understand it. I care about my BTC position - I really don't care that much about USD/BTC exchange rate. I follow it just to decide when I should buy more, so I can get the best amount of BTC from my limited fiat. But at the end of the day, when I look at my BTC stash, I never say "wow, my $10,000 investment now is worth $100,000". I almost never multiply my stash of BTC x the exchange rate, I just look at the amount of BTC.
It's obvious to me that this is not the case for 99% of people, which think about their BTC stash in fiat terms.
It's poor bookkeeping to value an asset in it's own reference, and not in a common market value reference, understood my all, and pretty stable in value, ie: fiat.
bitbug: I own 1 house, 1 gold bar, 100 stocks of microsoft, and 200 bitcoins. That's my wealth!
sceptic: Sure, but what's the value?
bitbug: Well, my reference is bitcoins, so let me calculate, that would be 2000 bitcoins!
sceptic:
and what's the value of bitcoins?
bitbug: let me check, $100 dollars; so the value is $200.000
sceptic: thanks, so what has been the performance of your portfolio? Did you make good investment decisions?
bitbug: well, actually my portfolio used to be worth 10 000 bitcoins last year, and only 2000 bitcoins today, so I lost 8000 bitcoins
sceptic: I'm so sorry, such a big loss. What did you learn from your investment mistakes?
bitbug: that I should go all-in in bitcoins!
sceptic: something in your logic seems to be wrong as it leads to conclusions that make no sense from a risk management perspective.
bitbug:
(please do not avoid the argument / claim untruths about risk / express truths about bitcoin that have no relation to the discussion)
