What Type of Bitcoiner Are You?

By RocketEnthusiast | Esoteric Selections | 15 Jul 2024

The reasons one may be involved with Bitcoin are wide and varying. Some want to be crypto millionaires, some are looking for a sizeable return on investment on a particular amount, and some are simply all-in. Have you ever considered what kind of Bitcoiner you are? I've given the matter some thought and have come up with four different types of Bitcoiners. You may be one of, or a combination of the following:

The Orange Piller

You actually maybe should be called a "pillar" because you support Bitcoin 100% You are truly all-in and likely convert all your fiat money to satoshis. You may often discuss Bitcoin and its benefits to your co-workers, much to their dismay. You know damn well not to store your Bitcoin on a centralized exchange and preach "not your keys, not your crypto" to anyone who tells you they have some Bitcoin on PayPal or CashApp. You may think that in the future all fiat money will be completely worthless and Bitcoin will be the world's currency. You are completely unphased by Bitcoin's volatile price fluctuations. You see every dip as an opportunity to add more, but you've also added at $73k. You are truly a HODL'er.

The Allocator

You are interested in investing in Bitcoin but are practical in the amount you choose to invest. You may or may not follow your financial advisor's advice of "no more than 5% of your net worth in a single name." When it comes to investing, you like to "set it and forget it." You are practical and understand that the price of Bitcoin is cyclical: there are bull runs and bear runs. You may not be "all-in" on Bitcoin, but you do believe that its price trajectory will continue to go up over time. You understand and can appreciate that volatility is a feature of Bitcoin. You may believe, that through dollar cost averaging, your Bitcoin holdings will be a nice part of your retirement.

The Trader

You know who you are! You try to time the market to maximize your earnings. Sometimes you succeed, sometimes you don't. You may or may not use a stop loss, a decision which you probably regret either way! You are checking the price of Bitcoin more often than you speak to those around you. You burn the midnight oil. You may have a dependence on energy drinks. Perhaps you thought leveraged trading was a good idea but have learned the hard way through margin calls that it wasn't really for you. But you persist because traders are vigilant, patient, and calculating.

The Bandwagoner

You are what they call in the sports world a "fair weather fan." You like Bitcoin, but only when the price is up. You don't stick around for crypto winters. You try to get out at the top, but no one can time the market perfectly. You can't stomach paper losses and probably would never "buy the dip." You do, however, cheer very hard and loud for BTC when the bull run is on. Perhaps you're a braggart to family and friends when you're up 10% but silent when you see a -2%. When the price is up, Bitcoin is the greatest thing ever. When the price is down, Bitcoin is the biggest scam ever.

What other types of Bitcoiners are out there?