Think Before You Sell Bitcoin – Bitcoin Magazine
This is an editorial by content creator and small business owner Robert Hall.
The past few months have not been great for the price of Bitcoin, which continues to decline in the $19,000 to $24,000 range with no end in sight. A bear market is a time when your beliefs are greatly tested. Those new to Bitcoin may think the financial pain is too great and want to tap out to cut losses. I decided not to buy it.
Experienced HODLers understand that Bitcoin is highly undervalued, so they see this as a great opportunity to buy as much Bitcoin as possible.
Here are my questions for anyone looking to sell bitcoin during this bear market. What is the return?
Exchanging Bitcoin for dollars may seem like a good idea in the short term. Because the Federal Reserve continues to raise interest rates to combat the inflation that caused it in the first place.
You cut your nose off to tease your face. The dollar will always fall in the long run regardless of what the Federal Reserve says or does. A weak dollar is a feature of Bitcoin, not a bug.
What do you see as a better deal for you and your family? Holding an asset poised to double 100-fold in the next few decades, or something that by design loses nearly 100% of its value Are you doing it?
How long until the dollar collapses?
No one knows how long the US dollar will remain the world’s reserve currency, but one thing is certain. Politicians on both sides of the aisle have exploited the United States’ preeminent role in the global economic system to print money that all nations use to trade. How stupid do you have to be to screw something like this up?
Instead of being good financial managers, politicians have used the dollar’s status as the world’s reserve currency to pile up unsustainable debt that will never be repaid. Entitlements such as Social Security and Medicare are a major contributor to the ballooning national debt, and will only get worse as baby boomers get older.These programs exist because the dollar is the world’s reserve currency. . The US debt-to-GDP ratio is a staggering 127%. This amount of debt cannot last forever. When you factor in the higher interest rates on short-term debt that governments have to carry forward, you begin to understand the dire situation we find ourselves in.
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The government’s only option is to kick the cans off again and beef up the press. With inflation hovering at his 40-year high, what if the money printer kicks in?higher inflation numbers.
The US is at the beginning of a debt spiral and the dollar will become as worthless as other fiat currencies in the past. It may take him 5, 10, or 15 years before people completely lose faith in the dollar, but it’s happening and will stand out in our lifetimes.
Democrats and Republicans are hesitant to unwind debt-boosting entitlement programs before they destroy the government’s balance sheet because they fear losing their jobs in the election.
Let’s talk about time priority thinking! They don’t want to lose power and are willing to risk the complete bankruptcy of America. This is the strength of the money printer’s influence on the average politician.
save yourself while you can
This bear market may be the last chance to stack a ton of bitcoin before the public realizes something is wrong and fights for a bitcoin lifeboat. If you have free cash flow, investing some of it in Bitcoin will ensure that your assets are protected in case anything goes wrong.
The best thing anyone new to Bitcoin can do is educate themselves on Bitcoin’s core value proposition. It’s like the veil has been removed from your eyes and you can see what an unequal world is: corrupt, incompetent and greedy.
Bitcoin restores order in a chaotic world and empowers the world to make positive changes for humanity. So before exchanging Bitcoin for dollars, understand what you are giving up in return. Do you think it’s still an even trade?
This is a guest post by Robert Hall. Opinions expressed are entirely his own and do not necessarily reflect those of his BTC Inc. or Bitcoin Magazine.
Think Before You Sell Bitcoin – Bitcoin Magazine
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