Row 28897

Row ID: 28897 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 28897 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

It's about confidence. You are speaking for yourself when you say you aren't sure. I can speak for myself when I say I am sure. If you aren't sure maybe you only have 5% of your portfolio in Bitcoin. I am sure so for the past number of years I have had anywhere from 85%-95% of my net worth in Bitcoin.

This confidence that I have picked a winner, which has proven me correct, is why my wealth is increasing far faster than the people you tell to put 1-5% into Bitcoin.

Like I said, diversification is for when you can't, or aren't confident, that you can pick winners. In that case you diversify and grow your money more slowly because in general it is safer. For those of us who can pick winners (as obviously I have done with Bitcoin), concentration is what we use and we grow our money far faster. If you concentrate on losers then obviously concentration won't end up working out, but I concentrated on the most obvious and best investment on the planet, so I beat out diversification by many multiples. If Bitcoin didn't exist, and I just had to pick from thousands of stocks, I woulda been in your boat with diversification because there is no way I can pick a few companies out of the entire stock market and get lucky enough to pick the high-end winners. But because Bitcoin exist I didn't need to guess, instead there was one winner that was extremely obvious.

That said, I made plenty of mistakes along the way also putting some money into altcoins thinking there might be other winners in the cryptocurrency market, and time and time again experience over the years showed me to just stick with the one super obvious winner. I will eventually diversify some into stocks, specifically to build up income-generating assets, which is the one thing Bitcoin doesn't give me, but there is no point in doing that until Bitcoin growth slows way down. Once Bitcoin's long term growth slows down to like 15% annually, I'll diversify a small amount of my bitcoin into a dividend focused stock portfolio so that the income from that can over a lot of my costs and I only need a tiny amount of bitcoin each year.

FieldValue
text It's about confidence. You are speaking for yourself when you say you aren't sure. I can speak for myself when I say I am sure. If you aren't sure maybe you only have 5% of your portfolio in Bitcoin. I am sure so for the past number of years I have had anywhere from 85%-95% of my net worth in Bitcoin. This confidence that I have picked a winner, which has proven me correct, is why my wealth is increasing far faster than the people you tell to put 1-5% into Bitcoin. Like I said, diversification…
label r/bitcoin
dataType comment
communityName r/Bitcoin
datetime 2024-05-21
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Raw Record

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  "text": "It's about confidence. You are speaking for yourself when you say you aren't sure. I can speak for myself when I say I am sure. If you aren't sure maybe you only have 5% of your portfolio in Bitcoin. I am sure so for the past number of years I have had anywhere from 85%-95% of my net worth in Bitcoin.\n\nThis confidence that I have picked a winner, which has proven me correct, is why my wealth is increasing far faster than the people you tell to put 1-5% into Bitcoin.\n\nLike I said, diversification is for when you can't, or aren't confident, that you can pick winners. In that case you diversify and grow your money more slowly because in general it is safer. For those of us who can pick winners (as obviously I have done with Bitcoin), concentration is what we use and we grow our money far faster. If you concentrate on losers then obviously concentration won't end up working out, but I concentrated on the most obvious and best investment on the planet, so I beat out diversification by many multiples. If Bitcoin didn't exist, and I just had to pick from thousands of stocks, I woulda been in your boat with diversification because there is no way I can pick a few companies out of the entire stock market and get lucky enough to pick the high-end winners. But because Bitcoin exist I didn't need to guess, instead there was one winner that was extremely obvious.\n\nThat said, I made plenty of mistakes along the way also putting some money into altcoins thinking there might be other winners in the cryptocurrency market, and time and time again experience over the years showed me to just stick with the one super obvious winner. I will eventually diversify some into stocks, specifically to build up income-generating assets, which is the one thing Bitcoin doesn't give me, but there is no point in doing that until Bitcoin growth slows way down. Once Bitcoin's long term growth slows down to like 15% annually, I'll diversify a small amount of my bitcoin into a dividend focused stock portfolio so that the income from that can over a lot of my costs and I only need a tiny amount of bitcoin each year.",
  "label": "r/bitcoin",
  "dataType": "comment",
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  "datetime": "2024-05-21",
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