Now is the time for us to pull out our orange pill strategies. Please add to this list.
To risky, Risk is managed by position size. If your scared risk $100 or some small amount. This will get them in 2 years from now. Orange pill-ing in the valley of the cycle always succeeds.
What is it backed by? It is not debt, only debt needs to be backed. It can be used as the backing. Example debt on your home is backed by your home. US dollar use to be backed by gold. Gold was the backing. Bitcoin is an asset with valuable attributes like gold and will become the backing of debt because of it.
What valuable attributes? Censorship resistance, permissionless, network effect, limited supply. Ect.....
It's a scam. People are the scammers, bitcoin is bitcoin.
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