> I see what you're saying here, John. Nothing against age, I just have a hard time
> connecting these thoughts with people who grew up in the penny stock era,
"the penny stock era"?? Seriously -- people still do penny stocks or other similar "timing the market" with volatile stocks on a regular basis.
I was talking about doing it a few years ago. This is the same era.
In fact, this is the same sort of THING as investing in those -- or gold. That was my point.
> or continue to have an old-school approach towards money.
That's the thing. This isn't new-school. People have been investing in precious metals like gold the same way that you're talking about with BitCoin. It ISN'T different. Again, that's my point.
The only difference is that BitCoin is MORE volatile than gold -- it bounces around much more. But, from an investment standpoint, it is very, very similar.
> You seem very knowledgeable and you
> take a strategic approach with each question or point, which is awesome. Although,
> this is completely different in the Crypto world.
No, it really isn't. And it shouldn't be. If you think it is very different, then I worry that you are not being as diligent as you should be before investing.
> There is always a devils advocate
> argument to every ebb and flow. The beauty with this market, is it's decentralized.
So? Gold is decentralized in a similar way. Multiple exchanges. Mining still happening. Etc.
> I'm over fiat currency, and I believe everyone else should be too, too much government
> control and say.
See -- the issue here is that you aren't seeing USING Bitcoin and INVESTING in Bitcoin as very different things. They are not at all the same.
Bitcoin is very different than physical currency when you are USING it, yes. But that isn't the same as INVESTING in it at all. You need to see that they are very different things.
> I personally can't wait until that day comes, it just means my coins
> will be worth more, and from there they will split into "Milli BTC's" which will
> be 1 millionth of a Bitcoin.
This is one SUGGESTED and POSSIBLE action in 2020. It is not locked in by any means. Again, this is an issue with "decentralized" currency -- there is not necessarily a good plan in place on how to transition when that wall is reached. Lots of people have very different ideas on how to handle that. MilliBTCs is just ONE possible reaction.
> BTC eventually will be someone's saving/retirement fund.
> If you're lucky enough to have one of the "few." At the end of the day, stick to
> the plan. Take your losses where you see them, and make your profits throughout.
Just so you know, since you like to talk old/new school -- you sound JUST like a guy telling people to buy gold 30 years ago. Just like him. Again, it isn't that different.
> No emotional attachment. If you get a good system down, you can day flip coins, and
Yup -- now you sound like any penny stock pusher over the past 30 years.
Again, not saying you are wrong or that it is a bad idea. I'm just saying that this belief that this is "different" and "new" (when it comes to the INVESTING side of it) is simply incorrect. It's a different version of the same thing that traders have been doing for decades.
USING it is completely different than INVESTING in it.