Bitcoin is Truly Different

I came across a post from r/wallstreetbets on the front page showing a bunch of posters there YOLOing their life savings into options.

I imagine that these guys are hoping for a 10x return on their gamble. And for a moment, the thought seemed tempting. It would be nice to get a 10x return on life savings.

I then imagined how I would feel if Bitcoin 10x’d, and the feeling was not the same. Why? Well because knowing that even at 10x, Bitcoin would still be at a serious discount from its long term cost to buy, I would not want to sell. So despite having the same “gains,” I don’t imagine having the same kind of high feeling as with a 10x options trade.

Now I suppose they aren’t exactly comparable, but it occurred to me that Bitcoin gives me a low time preference without me even having to try. I believe that alone is an incredibly powerful tool for anyone who can finally see what Bitcoin actually is.



Submitted August 04, 2023 at 05:45AM by DayStroller79 https://ift.tt/LT3cEIC

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