RE: I have to keep myself from FOMO'ing into Bitcoin trying to catch the bottom, I'm so excited 👍
Oh... I'm totally okay with losing it all... because I really want the architecture of the financial markets to change. If Bitcoin fails because something better comes along, that's fine... and if Bitcoin fails because the bankers manage to tank it... that's upsetting, but we'll just have to think of something better.
I'm honestly not trying to hit the bottom, I'm just cost-averaging in with a little bit each time I get paid. I don't actually ever want to convert it back to fiat... every little bit I put in now, I will spend it as it is once the technology catches up... so if I put in $100 today, maybe that'll buy me a TV in 3 years... etc.
It's very exciting times... if the bear market continues for a long time, I am perfectly fine with that... that just gives me more time to buy at low prices.
Yes, I have the same attitude. I am not looking to cash out into fiat, I am waiting to spend btc and using it as an actual store of value in the meantime.
But maybe next bubble I may cash some out finally. It will be my third bubble so I feel it would be about time by then ;)
Also, I don't think bitcoin is going to fail. Despite all the fud and bad graphs, there's so frigging much going on in the background it's scary. Every frigging conspiracy-personality already has their paws in it somehow, Bilderberg group, Goldman Sachs-bankers, even friggin' George Soros is in. I think there's too much money going into it, too many huuuuuuge stakeholders, for it to fail. Like you said if it's not bitcoin it'll be something else, but I think it may be bitcoin. 'cause it's the one that's decentralized. And alongside Ethereum, the only one that is exempt from the SEC rulings.
I have my own theory on that btw. I think they can't (sort of) say that BTC/ETH are securities. Because if they did, then they are saying that they aren't money. And if they aren't money, then none of the ICO's raised any funds. So perhaps in order to tackle these ICO's legally they needed to accept BTC/ETH as money legally. I don't know enough about law or the american law system but it feels like one of those legal issues that could be in play.