He hasn't made/realized anything until he cashes out, but he won't because of pure greed, ignorance and arrogance. He's also equating the parabolic increases with how smart he is. Pride and arrogance come before a fall.
When this Ponzi bubble finally pops and crashes the bit-bugs will be kicking themselves for not selling into this parabola.
A few comments. I have pleanty of cash and stock and property etc. So if anything I will be increasing my exposure to bitcoin, not decreasing it. As I have explained before, the amount I hold is a hedge against a range
of things that may happen in then future, both financial, Geopolitical, and personal.
As for “pure greed” you use this term almost as though its a bad thing. But ok, if wanting to preserve wealth, diversify assets, avoid theft and devaluation by Government is “greed”’ then so be it. But bear in mind that it’s human nature to be greedy and its this very nature, both from individuals and banks, that ultimately will drive bitcoin over the next decade.
As for equating my gains on bitcoin with how smart I am, I am actually way more proud of my returns on stock, as with equities there really is a correlation between research and being able to calculate inherent value. With bitcoins it was a different kind of “smartness” - the ability to spot a revolutionary trend. Indeed it was my “smartness” and lack of ability to calculate any kind of inherent value that held me off buying bitcoins for so long. (Which by the way is the phase you are currently in. The reason I KNOW you will buy is because of your views on gold. Not sure your age, I’m guessing 40-50? Try surrounding yourself with people in their 30s and below. People who do everything on smartphones. People who will be coming into their prime next 10 years as the current tycoons and men of power in their 60s and 70s start to die off. You’ll work this out).
I’ll say it again - any person even moderately well off know should own at least a single coin as a hedge against the future.
