Sirwin
Sirwin

Never say Never with Bitcoin. You might regret it bitterly later.

By ssaurel | In Bitcoin We Trust | 21 Jul 2023


This screenshot of a Bitcoin Forum post from July 2011 is here to remind you of something essential: Never say Never with Bitcoin.

It's as simple as that.

You should never underestimate the power of an incredible monetary revolution backed by mathematics and the people.

This still applies today, with the price of Bitcoin still -55% below its November 2021 ATH. When the Bitcoin price beats this ATH, don't make the same mistake as this user by liquidating your Bitcoin position.

The purpose of Bitcoin is much deeper, and the goal of the Bitcoin revolution is much more distant. The aim is to free you from the yoke of the powerful in the current system. To free yourself, you need to participate in the development of a circular economy based on the Bitcoin system, not set yourself targets for selling Bitcoin for weak money like the US dollar.

It's a mistake that all Bitcoin beginners make, but one that becomes less and less frequent once you've understood the why of Bitcoin.

That's why you can buy Bitcoin at any price if you've understood the why of Bitcoin. Indeed, your goal is not to make a profit against the US dollar or any other fiat currency but rather to secure the fruits of your labor within the world's most secure decentralized network.

A total paradigm shift that all Bitcoiners have made.

The other consequence of this “Never says Never with Bitcoin” rule is that you need to be prepared for all eventualities regarding the price of Bitcoin in US dollars. The best thing to do is to leave this short-term price alone, but since most people can't do that, you need to be prepared for all eventualities.

Don't believe influencers who say phrases like “The price of Bitcoin will never drop below ... again”. Some said this during the previous Bull Market, and eventually, the price of Bitcoin corrected back below.

Those who attach too much importance to such statements, which are only binding on those who believe them, are often inclined to sell in a panic when no one can give you guarantees on the Bitcoin price like this.

The guarantees Bitcoin gives you are linked to its protocol. And they are enormous. So the key is to focus on these guarantees, which enable you to plan your future by securing the fruits of your labor.

As for the price of Bitcoin, if you want to prospect for the future, go back to basics.

Ask yourself what makes the price of Bitcoin. The price of Bitcoin is governed by the principles governing the law of supply and demand. Bitcoin solves a problem that everyone has and that more and more people will realize in the future: the absolute necessity of protecting the fruits of one's labor in a censorship-resistant way in the face of monetary inflation.

As a result, demand for Bitcoin will explode in the future. With supply hard-capped at 21M units no matter what, you know what that means for the price of Bitcoin. That's the only thing I think you need to keep in mind, rather than trying to believe the haphazard predictions of influencers.

Keep this in mind throughout your Bitcoin adventure, and you'll see that the ups and downs of the Bitcoin price will no longer act on your emotions. You won't give in to FOMO or FUD, but you'll stay focused on all that Bitcoin will bring to tomorrow's world.

As for those who still doubt what the future holds for Bitcoin, you already have the best answer for them: “Never say Never with Bitcoin”.


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ssaurel
ssaurel Verified Member

Entrepreneur / Developer / Blogger / Author.


In Bitcoin We Trust
In Bitcoin We Trust

In Bitcoin We Trust is a place where Bitcoin believers share their ideas about the upcoming revolution. Blockchain and cryptocurrencies are also covered in this publication.

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