A quote from Warren Buffett:
A short quiz: If you plan to eat hamburgers throughout your life and are not a cattle producer, should you wish for higher or lower prices for beef? Likewise, if you are going to buy a car from time to time but are not an auto manufacturer, should you prefer higher or lower car prices? These questions, of course, answer themselves.
But now for the final exam: If you expect to be a net saver during the next five years, should you hope for a higher or lower stock market during that period?
Many investors get this one wrong. Even though they are going to be net buyers of stocks for many years to come, they are elated when stock prices rise and depressed when they fall. In effect, they rejoice because prices have risen for the ‘hamburgers’ they will soon be buying.
This reaction makes no sense. Only those who will be sellers of equities in the near future should be happy at seeing stocks rise. Prospective purchasers should much prefer sinking prices.
Assuming the majority of people on this sub are not near retirement, then you still plan to buy more BTC in the future than you currently have. You'll be able to buy more of it if the price is lower. So you should be cheering when it falls, and that is why the current "dip" is a blessing.
This doesn't apply if you are planning to liquidate soon, of course. Then you should want the price to skyrocket.
Source: https://www.roywalkerwealth.com/2018/01/warren-buffett-on-hamburgers.html
Most of you should not want Bitcoin to rise.
byu/Octember31rd inBitcoin
Posted by Octember31rd
17 Comments
A+ shitpost
Translation: “Most of you should not want your wealth to increase”
Precisely why I felt like I was in a race against time in the 60k range to buy as much as I could. I’m at a point now where I’m happy with my holdings but am hoping we drop back down below 70k for longer.
bad point. in your analogy we are the beef producers and car manufactures.
I dont want the price to rise.
I want adoption, which usually comes with rise in prices. But that’s not the goal.
If tbe whole world adopted bitcoin, but it remained at 100k range, I’d still be happy. ( not possible, but just in theory).
Just being able to actual save and keep purchasing power is the biggest winner
These drops come and go. But yes, take full advantage of them while they last.
Morgan Stanley and Schwab have entered the game with Spot ETF. At one point I wonder if USA spot ETF and reserve strategies end up owning 20%-50% of the network with their buying appetite
solid perspective. most people in crypto are focused on number go up without thinking about accumulation. if youre still building your position you should want lower prices longer.
I track all my BTC buys permanently on involio and looking at my cost basis over time the best entries were always when everyone else was panicking. having real data on your buying history helps you stay rational when the market gets emotional.
Just wait until you hear a quote from someone about not paying attention to price.
I have hit my goals… now I just want the infrastructure in place where I can take advantage of being an early adopter without “eating the hamburger” and selling.
I have buys every $2K under $60K down to $48K. But I am not looking to accumulate more and would look to sell any new buys between $100K and $120K.
nah, I’m in it for the pumps ngl. I want the price to rise since I don’t have any more money for dips… to the moon boys let’s goooo!
Long-winded way to say “buy the dip”.
More importantly, traders would rather have an asset tha goes up and down 5% everyday than have it go to $2 million. When you know how to trade, 5% a day forever is way more valuable
Should you listen to a billionnaire who profits from even coca cola being unaffordable or not?
The fact is, the price of btc barely matters. Even if you get paid your salary in btc. Next month it’s gone.
Should you own usd that has proven to inflate 100% over 10 years. Should you own a car that loses all its value 2 years after you bought it.
When btc rises, it means less dependency on government and less chance for dictatorship.
Buffet is a fine investor but gets things wrong too. He said he doesn’t do tech stocks but apple made him most ever.
The same argument applies to btc and usd. “Do you want your currency to be worthless or not”.
If you want the price to fall it means you are not sufficiently allocated lol
I’m retired. Rise, baby, rise!
I’m in the, send it to one million, camp. So I can retire.
I dont think you understand the quote