"Some Bitcoin promoters are deliberately misrepresenting my concession that anyone who bought Bitcoin 10 years ago and sells now will make money as an endorsement of buying #Bitcoin today. It is not. Those who buy today and sell 10 years from now will likely do so at a loss."
https://twitter.com/PeterSchiff/status/1229742185651851266LOL, I wonder what he will say as the years go by and he gets proven wrong over and over, just like for the last 6 or 7.
So far, history has shown that bitcoin has always been higher at any point 4 years after purchase, and of course, at some point that might no longer be true. There is also the problematic nature that an investment, such as bitcoin that starts from zero is going to have pretty steep performance once it gets a value that is much above zero... So for example, maybe we could start measuring bitcoin's value in 2011, and bitcoin was valued in about a $2 to $7 price range for a large portion of 2011. Seems like a decently fair starting point to start measuring bitcoin's advancement from there.
Also, we know that no investment is guaranteed, but bitcoin still seems to show pretty strong signs of continuing to be a good investment, even looking at a 10 to 20 year time horizon into the future.. and one thing about being a free-willed individual, we are empowered to change our minds or our investment strategies at any time that we chose, but those people who have invested into bitcoin and have held their bitcoin for longer periods have tended to do well with their bitcoin investments (so far), and even though there is no guarantees about future performance based on past performance, the current evidence still seems to support bitcoin as an investment, at least as a way to hedge 1% to 10% of investment assets and currently, there is no real evidence to suggest that anything is changing in regards to the ongoing investment thesis into bitcoin, except perhaps becoming stronger and stronger and stronger with the passage of time in a kind of Lindy effect kind of way.
Like Lambie bambie asserts, seems like Peter is going to just continue to be wrong and wrong and wrong, but stubborn as Peter is, he is NOT likely to give up with his nonsense, even if he is shown to be a fool in the next 10 years.
Enough with this 1 to 10 percent.
10 percent should be the minimum a coiner invests in King Bitcoin.
You do what the fuck you like, lambie bambie. I could give less than two shits.
This 1-10% message is talking to the everybody and to the no coiner to get the fuck off of zero. Hey, yeah, I get it that many active participants in this thread are already off of zero and are already likely in the 1-10% arena, if not higher, but ultimately, whatever people do, they are best to be tailoring their approach to their own situations in terms of their cash flow, other investments, view of bitcoin versus other investments, timeline, risk tolerance and time and skills to learn more and/or manage their portfolios including trading and making sure that their life expenses are adequately covered.
Getting off of zero is going to come a long way for a lot of people, especially since we still likely are not even approaching 1% of the world population into bitcoin in any kind of meaningful way.
Likely 1-10% speaks to people who are already balls deep into bitcoin too at least in terms of already establishing their initial stake into bitcoin, and surely there is going to be a decent amount of variance in terms of when people got into bitcoin. Some people may have started out investing into bitcoin in a bit of a timid manner or they really did not have a lot of capital to inject into bitcoin from the start, and they may have even witnessed the 2015-2017 price run while being on the low side of 1-10% or even that amount of money did not add up to very much for them because se they did not have a lot of capital that they were able to work with.
So, yeah, there is likely little to no get rich quick with bitcoin, even though there can be some gambling towards making bets that bitcoin is going to do another exponential growth that did pay off with some luck or could pay off again with some luck, and surely I do not recommend that anyone invest like that, even though there are certain number of people who might be inclined in that direction, and that is on them to tweak their style in that direction, if they so choose.
Also long term winning for Bitcoin is guaranteed as long as humanity doesnt go extinct. Incorrect usage of my name will result in more GayJaunGee branding as well.
If you are so fucking stupid as to really believe that long term winning in bitcoin is guaranteed, then that is your choice. I doubt that very many prudent people agree with you and/or are willing put everything on black in that direction. I certainly would not recommend such a gambling approach with anything more than a fraction of anyone's wealth or credit.
Surely, if anyone has already been able to ride out one or two exponential periods of bitcoin's growth while having a decent amount of value invested into bitcoin, then there are good chances that the bitcoin portion of their investment has sufficiently increased in value in which they are faced with decisions about whether to reallocate or the extent to which to reallocate - which is also going to depend on their individual circumstances, including their cash flow, other investments, view of bitcoin versus other investments, timeline, risk tolerance and time and skills to learn more and/or manage their portfolios including trading and making sure that their life expenses are adequately covered.
If someone has their life expenses adequately covered and they are pretty solid in their various investments, I surely do not recommend reallocating back down to 1-10%, especially if their gained value has come from bitcoin price appreciation. There is a kind of concept in investing regarding increasing your chances of getting richie faster and to a higher level by letting your good investments ride (rather than reallocating them), and I am surely not opposed to such an approach to bitcoin, including that I personally invested a bit over 10% in 2013/2014 to establish my initial stake in bitcoin, but my BTC portfolio has grown to become a much greater than 10% portion of my wealth, and in about early 2017 I decided to let that bitcoin aspect ride and have reconfirmed my "let it ride" commitment on a large number of occasions since then.
But, I consider that my particular fortune in bitcoin should not be skewing either my discussions of the topic in a thread like this with "everybody" or my discussions with the no coiner / fence sitter or the under committed bitcoin investors, and starting with 1% to 10% remains as great starting out recommendations.... that is surely able to be tweaked by anyone who really embarks upon engaging with the various aspects of his/her own situation to tailor his/her BTC investment approach to his/her circumstances - even while I also understand that if someone is really young, this category of person might hardly have any investments at all, and for those people, they might start out only investing in one asset while they are building their initial stake, which could end up being bitcoin and then branching out after their investment has had some time to mature and appreciate (hopefully, in the case of investing all into bitcoin, their remains a prudent approach that does mature and price appreciates).
I do get the sense that you, lambie bambie, might be one of those snot-nosed younger investors who surely might not have any other investments or responsibilities in life, and surely in those kinds of cases, it could surely be prudent to start out aiming towards 100% start in terms of establishing a stake, and then diversifying as the investment grows including as you might start to perhaps acquire some real world expenses after you move out of grandma's basement. So, yes, I will concede that there could be some people in which 100% starting out in bitcoin only could be practical and prudent while establishing early investment capital, but that still does not mean that any of this kind of investment approach is generally applicable or that it would even be a prudent approach for a more mature investor who might have a complicated set of expenses and life style that is already staring them in the face while they are considering getting into bitcoin by getting off of zero.