$69K Bitcoin vs. $30K Bitcoin: Different Price, but Same Code and Guarantees on the Protocol.
$69K Bitcoin vs. $30K Bitcoin: Different Price, but Same Code and Guarantees on the Protocol.Step back to see the bigger picture.After an ATH of $69K in November 2021, the Bitcoin price is now around $30K. This represents a 56.5% drop in the price of Bitcoin from its ATH. For those who only see Bitcoin as a speculative investment, this is certainly a time of extreme fear. Unfortunately, this category of people is still dominant in the Bitcoin world. I say unfortunately here because Bitcoin is much more than just another speculative investment. And those who don't take the time to understand the why of Bitcoin are missing the point. They see only this: This is where you need to be able to step back and see the bigger picture. For that, there is no magic bullet: you need to have made the effort to understand the why of Bitcoin. Unlike fiat currencies whose design is such that your purchasing power is doomed to erode over time irreparably toward zero, Bitcoin is a unit of wealth, not a unit of debt. You need to understand this nuance that makes all the difference. The price of Bitcoin has changed from $69K to $30K, but the source code remains the same. The design of the Bitcoin protocol has not changed. But it is the Bitcoin protocol that gives you incredible guarantees for your future, not the price at any given moment. Back in December 2021, I reminded you that buying Bitcoin was just the first step. Then, to take full advantage of it, you need to understand the why of Bitcoin and in particular the 4 rules at the heart of the Bitcoin protocol:
These are the 3 protectives “No” that Bitcoin allows you to verify at all times. As the price of Bitcoin falls by more than 50% once again, you just have to ask yourself if these 4 rules are still guaranteed. The answer is obviously YES. This is what is essential. Behind these rules that can be verified at any time, the Bitcoin protocol gives you 10 additional guarantees that will make all the difference in your future if you choose to become a Bitcoin HODLer no matter what:
Whenever the price of Bitcoin has fallen by more than 50% in the past, these guarantees have always been preserved. That's happening again today. This is the main reason why the Bitcoin price has always recovered and why we have then been able to reach new ATHs for the Bitcoin price every time. As long as the guarantees that the Bitcoin protocol gives you are preserved, you can expect this to be the case. Bitcoin is thus like a phoenix that rises ever stronger. Opponents of Bitcoin find this hard to accept, but it is a reality you can check at any time because the Bitcoin source code is open. So I'm not asking you to take my word for it, but to go and check for yourself if you want. That's what I suggested you do in this article at the beginning of February: Once you understand that the price of Bitcoin at a given moment has no impact on the guarantees that its protocol gives you, you will understand that as long as the design of the Bitcoin protocol remains the same, nothing changes. What changes here is simply the perception of investors, most of whom have a short-term view. They make the mistake of letting their emotions guide their choices with Bitcoin. This is a trap that I encourage you to never fall into. If you do, then you will see the current situation as an opportunity. That's why I chose to accumulate more BTC at $30K last week, and why I wasn't afraid when the price of Bitcoin subsequently dropped to $25K. I know full well that in the future these price levels will be considered particularly cheap. It's up to you to take the right time horizon with Bitcoin: the long-term one. In Bitcoin We TrustComment & Earn!Share your thoughts and opinions on the topics covered within this blog in the comments below for your chance to win yourself an NFT. Click here for more information on our engagement rewards. If you liked this post from Cryptowriter, why not share it? |
Older messages
EOSweekly: Rebranding, Wired B1, EOS Support, Rate 2.0, Coalition
Saturday, May 14, 2022
TOP HEADLINES Rebranding EOS: Historical Significance and Look Forward The EOS mainnet community patiently awaits the next upgrade of EOSIO in Mandel. Note that the name Mandel is a placeholder for the
Bitcoin: Unsafe at Any Price
Saturday, May 14, 2022
But you will wait until its price goes up anyway
EOSweekly: Shareity, Bylaws, Collabs, Dev Spotlight, Yield+, Trust IDE, fractallyEden
Sunday, May 8, 2022
From working groups to working together, the ecosystem's new motto: “action, action, we have action”. EOS Shareity delivers its report while ENF goes sight seeing for developers. Eden being down by
My Most Bullish Scenario for Bitcoin
Tuesday, May 3, 2022
It may disappoint you
EOSweekly: TrustEVM Token, Unicove, Coalition, Yield+, Chintai, Dapp Map
Sunday, May 1, 2022
There's no stopping EOS momentum. What will the ecosystem look like with a TrustEVM token tied to EOS? Greymass stealfully advances Unicove. The party quickly grows as EOS Coalition and Yeild+
You Might Also Like
Bitcoin sees brief rebound to $99,000 on Christmas day
Wednesday, December 25, 2024
Holiday excitement lifted Bitcoin past $99000, but it quickly corrected to $98000 where it still holds strong support. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Opinion: Market Panic After FOMC Shows Some Overreaction
Wednesday, December 25, 2024
Last night, the market experienced a significant pullback, primarily due to investor concerns over the Federal Reserve possibly shifting towards a more “hawkish” policy stance. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Trump’s pro-crypto pledge could see day-one executive orders, industry players hope
Tuesday, December 24, 2024
A Bitcoin strategic reserve, access to banking services, and the creation of a crypto council are among the items on the industry's 'wishlist.' ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
State of the Network’s 2024 Year in Review
Tuesday, December 24, 2024
A data-driven overview of events that shaped crypto in 2024 ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
OKExChain: Will the Federal Reserve and Jerome Powell Prevent the U.S. from Creating a National Bitcoin Reserve?
Tuesday, December 24, 2024
In the early hours of today, Federal Reserve Chairman Jerome Powell made it clear during a press conference following the monetary policy meeting that the Fed has no intention of participating in any
Crypto community cheers as Trump names pro-crypto advisors Stephen Miran and Bo Hines for economic and digital ass…
Monday, December 23, 2024
Trump fosters economic expansion and digital innovation with Miran and Hines at the helm of economic and crypto councils. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
📈 BTC-to-Gold ratio hit a historical peak on 17 Dec; Crypto.com renewed its partnership with Formula 1 until 2030
Monday, December 23, 2024
BTC-to-Gold ratio hit a historical peak on 17 Dec; Crypto.com renewed its partnership with Formula 1 until 2030; Crypto.com and the Philadelphia 76ers unveiled Web3 mobile game 'Spectrum Sprint
Bitcoin Hits A New ATH Once Again After Touching $108K
Monday, December 23, 2024
Monday Dec 23, 2024 Sign Up Your Weekly Update On All Things Crypto TL;DR In this issue, we dive into: Bitcoin Hits A New ATH Once Again After Touching $108K Avery Ching To Become New Aptos Labs CEO As
Yi He on Binance Alpha and Wallet: Most Projects Are Air, Facing Talent Shortage in Web3, and Wallet as an Airdrop…
Monday, December 23, 2024
This article is a summary of a recent AMA hosted on Binance's official Twitter, focused on the relaunch of Binance Wallet. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Finish signing in to Crypto.com DeFi Research
Monday, December 23, 2024
Here's a link to sign in to Crypto.com DeFi Research. This link can only be used once and expires in one hour. If expired, please try signing in again here. Sign in now © 2024 Crypto.com 1