hello everyone welcome to bitcoin not crypto my name is for Stevens I want to talk about Bitcoin being max pain Bitcoin we look at it uh from an outsider's perspective you might think wow this thing sure has had a run I sure wish I had bought this a long time ago but the thing is is this asset is extremely painful for the holders of it and for the holders that care about the price and care about where it's going and that lack conviction of the long-term Vision now the long-term vision of course is that this
is a new monetary platform where uh basically we can all interact and use the the Bitcoin Network as a permissionless payment system and it's trustless as well because of its decentralized nature and the current system that we have has failed us and we see it failing us and when we learn about how it's failed us with the inflation because of monetary debasement because money the Fiat money that we use is controlled by Central entities that have their own incentives and they print um money which makes everything go up in a nominal sense uh except your
wages because they don't keep up with that monetary de debasement so the closer you are to that money that new money the more you benefit and this kind of skews and and supports um Legacy Financial system uh people in the industries um like Banking and and government and um the the people basically wealthy individuals that can take out big amounts of debt and things like that it benefits them a lot more than people on the other side of the financial system which is living paycheck to paycheck not having uh money that you can actually save
in if you do put it into savings it's being eroded and basically stolen from you because of this uh inflation so as we learn that we think okay well bitcoin's inevitable right Bitcoin is the solution to this massive problem we haven't created bitcoin we haven't we don't get involved in bit Bitcoin because we think because we think it's solving some other problem or some problem that doesn't exist we we have identified this problem the the problem of Fiat money and we know that Bitcoin is the best solution for that so when you believe that and
the degree that you believe that in is will be your conviction on this asset if you just look at this and you think okay number go up I'm going to buy some Bitcoin I'm going to hold it for I don't even know how long and the solution the the the the solution that it's giving me is money right it's giving me not money in the way that I just described but more Fiat dollars in the future the problem that I have is uh needing an investment vehicle right and Bitcoin will satisfy that for that individual
now when you look at it like that you you probably have a lot less conviction in it and that's when you're going to experience the max pain of Bitcoin because the way Bitcoin moves is painful in the short term and in the long term it's painful if you don't hold it because it's baked in this number go up technology it's uh the issuance of Bitcoin is programmed and the issuance is less than the new gold that is being added to the stock pile of gold in the world so it's now the scarcest asset and it
has true scarcity with its uh 21 million Bitcoin ever to be minted and this is different than other cryptos right if you start looking at only number go up you you'll start to consider cryptocurrencies and be because you'll say oh well you know alt season or it's going to run higher or this technolog is better or I've gotten into this hype or the you know smart contracts or blah blah blah all this Vapor Weare and nonsense and scams you'll fall for that because you're just trying to use this vehicle to acquire more Fiat but Bitcoin
is unique in its way of only ever having 21 million other cryptocurrencies with a limited Supply those if if that limited Supply ever becomes an issue there are there is somebody and either it's somebody or somebody as in a foundation or a group of individuals that will change that they will change that to benefit them um and really what that does is it erodes any sort of confidence and Trust in a true Limited apply now Bitcoin basically it's impossible or it's near impossible it's the hardest uh thing ever to change the max Supply because the
incentive is to not never do that right because of the trust that I said and because you'd be diluting your own Holdings of Bitcoin if you issued more of it and the consensus mechanism basically is you know developers Miners and nodes and all of them would have to agree and none of them have the incentive to um up the supply so that's something to be considered and why Bitcoin is truly unique compared to these other cryptocurrencies back to its max pain Bitcoin trades sideways and down there are a lot of whales there are a lot
of Traders and they basically control the Bitcoin price in Fiat for a large majority of the time of the price action of of Bitcoin and they do this in putting new Bitcoins into the market and and creating sell pressure which will lower the the cost of of Bitcoin and this will wipe out traders who are trading on margin trading with perss of on bitcoin and that are long right because they're lowering the the price which will get the margin called and basically take away the um Bitcoin that they were allotted to through these Leverage uh
instruments and and then um the whales will scoop up that cheap Bitcoin that they basically created and they will buy more of it and that will drive the price back up and that will liquidate all the shorts and they'll just do this over and over and over until there's a catalyst that pushes bitcoin's price into a new level now this can either push it up up into a new level or down into a new level depending on if we're in a bare or a bull market and depending on the catalysts of course so you there's
about 10 or 12 days or something like that on average where bitcoin's price goes up so how are you going to time that it's incredibly difficult to time it so you have to be exposed to bitcoin's price through this price action of sideways and down right you as it's going you know it gets to a new level then it starts Trading trading sideways and down in a consolidation pattern and it starts making lower highs and lower lows and each time it goes up and almost breaks out to a higher high you'll think that it's going
to do that so you're you're buying into momentum or you're you're excited for it to kind of break out and then it doesn't and you're thinking it's going to make a lower high you know there's a lot of like hope and and optimism and really this is just Wales accumulating more Bitcoin with the strategy that I mentioned before which is wiping out leverage positions and scooping up you know uh loosely held Bitcoin and uh this is why it's max pain right if you can if you're if you care about the price action in within weeks
or months even um then you are going to be disappointed and you're going to think well do I need to jump over to a faster horse maybe there's a c Catalyst for name your altcoin or um you know maybe this other stock will do well or or what have you right U maybe I should just put it into Bonds in case there's a recession you know it's going to create a lot of questions the longer this period happens and that's part of the strategy of these whales as well is because as that hope dies off
there ends up being a lot less liquidity within the market so when there is a catalyst of a lot of buying or a lot of selling then that affects the market because the the market price is just on the margin of buyers and sellers within a certain period of of price action so when there's lower liquidity when there's lower action that's when the price can move very rapidly very very quickly and be when there's a lot of money just all of a sudden being pushed into this and that's what happens that's what happens to bitcoin
so you need need to be in it holding it throughout this period of sideways and down which is a very uncomfortable position to be in if you're looking at your your market cap if you're looking at your trading accounts or investment accounts you're thinking well kind of just bleeding out my my purchasing power here I'm I'm bleeding out in Fiat nominal terms and where is this absolute gain that happened I can look back a few months and see oh Bitcoin ripped up 40% well when's that going to happen for me right if if this is
a new position for you so you have to be patient and Bitcoin teaches you patience and it teaches you to have a longterm time Horizon because that's the only way for you to actually get the value out of Bitcoin it's the only way for it to be a hedge against a basement in this current world and in the current time frame and adoption the part of the adoption cycle that we're in is you have to be exposed to bitcoin for a long term you have to be okay riding out and feeling that max pain and
eventually that pain will subside as we rip up and then we will consolidate again right now we're in another consolidation period how long does it consolidate for I don't know but we are below this $100,000 sell pressure wall uh cell wall I think people are calling it none of it really matters you know the only thing that really matters is maybe a little bit of time maybe maybe you can time it a little tiny bit with your dollar cost averaging you can double down your buys a little bit at a dip and you can maybe
just buy the normal amount or even hold off buying a little bit when you think the prices run up and and you don't see any catalysts on the horizon to push the price higher this is how I would act because I'm not a seller I'm not a seller of Bitcoin I never plan to sell my cold storage Bitcoin I do have other Investments that are you know that are my time Horizons are a little bit different in their Bitcoin adjacent you know micro strategy or ETFs or something like that in registered accounts uh and and
these will be the only reason I would really sell them is because I'm buying something um so yeah really I'm just a buyer I'm just really a buyer because I I don't plan to buy a house I don't plan to buy a brand new car I'm not getting a a Rolex uh I'm not getting a Lambo I'm not getting a PJ you know uh I don't care about any of that stuff I just care about stacking SATs so that's what I'm doing and that is why Bitcoin is Max paying and if you want to get
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