Wednesday, January 13, 2021

The Bitcoin Hodler Pension

I got in around 2012 and watched the price go to 1000 and then crash. I waited for the chart to crack into 1000 again, which happened in early 2017. I got in big at that time, in various crypto coins including BTC and ETH. This is a great technology which can free the people from centralized money issuance. What a ride it has been!

Big serious investment funds can't buy speculative assets. Now that BTC is above 20,000 again, they can buy.


The big deep patient money is moving in. Pension funds plan for the next decades.
 
In the past there have been scarce items such as NYC taxi medallions. Those were created by regulation and politics, could be destroyed by politics, and were destroyed by technology. Bitcoin ignores politics. It is provably scarce by laws of math. 

When the gold price increases, miners work harder to create more gold. When Bitcoin price increases, miners work harder but it produces the same amount of Bitcoin while making the network more secure.You can hodl your children's pensions, like the big deep investment funds, and without their management fees. When you are right, sit tight.

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