Article oversimplifies Bitcoin ownership as a ābusiness.ā DCA works, sure, but calling it a side hustle ignores the volatility, tax friction, and long bear cycles most newcomers canāt stomach. Cardoneās mindset shift is valuable, though ā thinking like an owner, not a speculator, is the real edge. Still, Bitcoin isnāt a business model ā itās an asset class, and that distinction matters.
Yes I agree I did oversimplify article. Most of my articles are there to get folks to at least think about this stuff. There are ways for it to work for the normal person and whether it's 100% the way the talking heads say is questionable for sure. As we've all heard thousands of times, this is NOT FINANCIAL ADVICE so anyone reading this and deciding to go make Bitcoin their business is 100% on them. Hey it might work for some and for others not so much, apparently it's working for Mr. Cardone?
Volatility is about time preference right? Anyone telling me that Bitcoin is volatile I ask in what time frame? Day to day? Heck yeah! Since 2011 when it was $1 to today when it's $115K umm not so volatile. 2025 to 2035 when the price will be north of $1M - Volatile? Meh.
Bear cycles are difficult for sure but many have stomached them; as they say if it's too hot in the kitchen stay out? But at the end of the day I fully understand your point and agree, it is an asset class however, I also believe you can use as a business; if you have disposable income and can afford to play that game.
Article oversimplifies Bitcoin ownership as a ābusiness.ā DCA works, sure, but calling it a side hustle ignores the volatility, tax friction, and long bear cycles most newcomers canāt stomach. Cardoneās mindset shift is valuable, though ā thinking like an owner, not a speculator, is the real edge. Still, Bitcoin isnāt a business model ā itās an asset class, and that distinction matters.
Yes I agree I did oversimplify article. Most of my articles are there to get folks to at least think about this stuff. There are ways for it to work for the normal person and whether it's 100% the way the talking heads say is questionable for sure. As we've all heard thousands of times, this is NOT FINANCIAL ADVICE so anyone reading this and deciding to go make Bitcoin their business is 100% on them. Hey it might work for some and for others not so much, apparently it's working for Mr. Cardone?
Volatility is about time preference right? Anyone telling me that Bitcoin is volatile I ask in what time frame? Day to day? Heck yeah! Since 2011 when it was $1 to today when it's $115K umm not so volatile. 2025 to 2035 when the price will be north of $1M - Volatile? Meh.
Bear cycles are difficult for sure but many have stomached them; as they say if it's too hot in the kitchen stay out? But at the end of the day I fully understand your point and agree, it is an asset class however, I also believe you can use as a business; if you have disposable income and can afford to play that game.