{"id":36743,"date":"2025-01-17T15:22:17","date_gmt":"2025-01-17T15:22:17","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=36743"},"modified":"2025-01-17T15:22:17","modified_gmt":"2025-01-17T15:22:17","slug":"treat-bitcoin-as-a-tool-not-a-cult","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=36743","title":{"rendered":"Treat Bitcoin As A Tool, Not A Cult"},"content":{"rendered":"

Follow Frank on X<\/a>.<\/p>\n

I was recently a guest on the Mr. M podcast, where the host, Maurizio (Mr. M), and I discussed many of the realities of investing in bitcoin that often aren\u2019t discussed with enough nuance.<\/p>\n

For context, Maurizio invited me onto the show because he wanted to discuss a Take<\/a> I wrote last week entitled \u201cDon\u2019t Buy The Bitcoin Dip<\/a>,\u201d in which I shared that we\u2019ve already been in a bitcoin bull market for over two years and that now likely isn\u2019t the best time to make sizable bitcoin purchases. (Please note that, in the article, I didn\u2019t encourage anyone to sell their bitcoin, nor did I suggest that they stop dollar-cost averaging into the asset.)<\/p>\n

We discussed the piece and also touched on some other dynamics involved with investing in bitcoin that don\u2019t often get brought up. So, I figured I\u2019d share some bullet points from the conversation here as a teaser for the episode.<\/p>\n

When investing in bitcoin, you can:<\/p>\n

Sell some if you need some cash, and it\u2019s better to do this while bitcoin\u2019s price is highNot go all in on bitcoin; having a cash buffer can be psychologically beneficial, as bitcoin is a volatile assetConsider timing when making larger bitcoin purchases; bitcoin\u2019s price goes through boom and bust cycles, and it\u2019s best to buy during bear markets<\/p>\n

I share these points because, oftentimes, louder voices in the Bitcoin space broadcast messages like \u201cBuy the dip\u201d or \u201cNever selling!\u201d (my favorite example of this is the episode of What Bitcoin Did entitled \u201cBuy the Fucking Dip<\/a>\u201d that was published at the near the tippy top of the 2021 bull market), prompting those new to the space or who might benefit from selling or spending some bitcoin during a bull market not to.<\/p>\n

Had I not sold some bitcoin during the latter part of the previous bull run, I wouldn\u2019t have had the cash buffer that made it easier for me to quit my previous job, which was making me miserable, so that I had some financial breathing room while looking for work in the Bitcoin space. And here I am now, writing articles for Bitcoin Magazine for a living in part because<\/em> I sold some of my bitcoin.<\/p>\n

So, please understand that Bitcoin is a tool that can be used in many different ways. Examine your life circumstances, and think for yourself when it comes to how to use your bitcoin. Don\u2019t just listen to the devout HODLers who may make you feel like less of a Bitcoiner for doing what\u2019s best for you.<\/p>\n

This article is a <\/em>Take<\/em><\/a>. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.<\/em><\/p>","protected":false},"excerpt":{"rendered":"

Follow Frank on X. I was recently a guest on the Mr. M podcast, where the host, Maurizio (Mr. M), and I discussed many of the realities of investing in bitcoin that often aren\u2019t discussed with enough nuance. For context, Maurizio invited me onto the show because he wanted to discuss a Take I wrote […]<\/p>\n","protected":false},"author":0,"featured_media":36744,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-36743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/36743"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36743"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/36743\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/36744"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}