Over the last year I sold my stocks
I now keep 100% of my savings in #BTC
My wife and I still own our primary residence and she still owns some stocks (she wants to diversify)
It took me 3 years of studying #Bitcoin to realize this is the least risky way to save for the future
I believe Bitcoin will outperform everything as a savings vehicle
FOREVER
I plan to hold my BTC for at least 10 years
I am aware of the potential of 70-90% drawdowns along the way
I don't care
Most people don't consider the counter-party risk associated with holding shares of a company
Owning stocks is very risky compared to owning BTC once you understand how Bitcoin works
Risk is the chance of total loss - a company can go bankrupt, the CEO could make a terrible decision that destroys the company's reputation, etc
When you own stocks, you rely on governments to make decisions that can have a massive impact on the value of your savings
People are easily corrupted and it can be hard NOT to make decisions that are for their own benefit, especially when presented with a threat or a big bag of cash
You have no idea what's going on in the background
Bitcoin doesn't have these risks
There is no central party that controls the Bitcoin network
There is nobody to sue
Bitcoin is software that cannot be coerced
All decisions are based on market consensus
I would rather rely on neutral and incorruptible software to keep doing what it's meant to do, over CEOs and politicians who don't care about me as an individual
rajatsonifinance / RajatSoniFinance
npub1ew…4k3yt
2024-02-02 17:12:11
Author Public Key
npub1ewjtrpve0y42ak0tj4r0esp62p6uvpx57sukfaphtqlzedrfl04sl4k3ytPublished at
2024-02-02 17:12:11Event JSON
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"content": "Over the last year I sold my stocks\n\nI now keep 100% of my savings in #BTC \n\nMy wife and I still own our primary residence and she still owns some stocks (she wants to diversify)\n\nIt took me 3 years of studying #Bitcoin to realize this is the least risky way to save for the future\n\nI believe Bitcoin will outperform everything as a savings vehicle\n\nFOREVER\n\nI plan to hold my BTC for at least 10 years\n\nI am aware of the potential of 70-90% drawdowns along the way\n\nI don't care\n\nMost people don't consider the counter-party risk associated with holding shares of a company\n\nOwning stocks is very risky compared to owning BTC once you understand how Bitcoin works\n\nRisk is the chance of total loss - a company can go bankrupt, the CEO could make a terrible decision that destroys the company's reputation, etc\n\nWhen you own stocks, you rely on governments to make decisions that can have a massive impact on the value of your savings\n\nPeople are easily corrupted and it can be hard NOT to make decisions that are for their own benefit, especially when presented with a threat or a big bag of cash\n\nYou have no idea what's going on in the background\n\nBitcoin doesn't have these risks\n\nThere is no central party that controls the Bitcoin network\n\nThere is nobody to sue\n\nBitcoin is software that cannot be coerced\n\nAll decisions are based on market consensus\n\nI would rather rely on neutral and incorruptible software to keep doing what it's meant to do, over CEOs and politicians who don't care about me as an individual",
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