Guys, I don't know what your favorite hot new shitcoin is, but I do know that Bitcoin has seen this before. I'm talking about the recent attack -- the ridiculous FUD, the big shorts -- that has blessed us with the opportunity to steal a bit more of the big boys' wealth. Every billion they spend trying to kill the unkillable is 20 billion in our pockets if you're willing to wait and #hodl for a bit. Yeah, you might even have to #hodl for a year or two, but you can bet your sweet patootie that Bitcoin will emerge from this attack bigger and more badass than ever.
Why? Well, it's really about the unkillability of it. The Bitcoin network now has more computing power than any government on the planet -- true fact -- 400,000 times more hashing power than its nearest competitor, Ethereum (sucker coin if ever there was one: puny little "blockchain" that can be reset on one guy's say-so, a coin whose supply is unlimited and that exists solely on hype about its "active developer community" that has thus far failed to produce a single killer dapp... but I digress.)
I'm here to tell you about the King, the OG, the granddaddy of them all, the one on whose shoulders the fate of all the others rests because if Bitcoin fails, crypto fails, at least in its original non-centralized, non-banker-controlled form. But don't worry: Bitcoin won't fail.
Oh, they might drive it down to $5000. Probably not, but they might.
Would you consider that failure? I wouldn't. That still leaves a large market cap, and it gives people the opportunity to get in on a historic transfer of wealth from rich bankers who have spent many billions trying to drive Bitcoin out of existence to... you? I don't know about you, but I'm taking their money.
"Taking their money?!?! What are you talking about, you loon, the price is down 75 percent from its peak!" you say?
Yeah, taking their money. Even if they get it down to $5k, I'm still way up because I #hodl, and I will be DELIGHTED to buy more at that bargain basement price (which is still pretty expensive when you think about it). They probably won't get it that low; just saying...
You see, the supply is limited. Every Bitcoin they sell is one we can BUY. AND HERE'S THE BEST PART: At this point, they've sold so much Bitcoin that much of it must have been borrowed. This means they have to buy it all back at some point, and when that point comes, they will find people like me #hodling and unwilling to sell it back to them. This will cause the price to rocket up very quickly as Bitcoin always does after attacks such as these. In traditional investing parlance, this is called a "short squeeze." This has happened before. and it will happen pretty soon.
This time it will be far bigger and more impressive than before. The money that has been thrown at trying to short Bitcoin over the past five weeks is mind boggling. The power it is giving us is astronomical. If you have Bitcoin, hodl strong. You'll be sitting pretty in a few months (or maybe a year, but I doubt it), and if you don't have any, get some. Thank me next year.
Bitcoin has been here, done this. We got this.
I wasn't able to buy the last dip, but now I've learned how to use limits and got some on the cheap today. I'm like the JP velociraptor just learning to open doors.
Good for you! You'll be glad you did this.