Quit fucking around and provide cover fire for ₿itcoin until it makes it out the door

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One of my favorite charts of all time is the Papiermark vs gold. The Papiermark (also called paper mark or Weimar Mark) was the Weimar Republic’s fiat that hyperinflated and went to zero in the early 1920’s.

After WW1, Germany was forced to pay reparations for the war. But the reparations were denominated in gold. So predictably, nations that were owed money, banned imports from Germany, and then central banks colluded to manipulate gold. Meanwhile, the US continued loaning money to Germany to make its reparation payments to France and the UK, so that these two could service their war debts to the US. A very disgusting game. Anyway, this all set the wheels of the Papiermark’s hyperinflation in motion.

What people don’t realize, however, is that many of the people that bet against the Papiermark (especially those with leverage) went broke before the Papiermark did, even though they guessed the direction correctly, entering their trades as a favorable parabola was forming. How’s that? Because the volatility was too extreme, the percentage change in gold’s price versus the currency could move 100% or more in a single week, and it took years for hyperinflation to fully play out.

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https://preview.redd.it/lo586w99oa481.png?601&format=png&auto=webp&s=d7dcf2973cb4c5c2e2ad519936f895cec38d63cd

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So playing leverage in either direction on Bitcoin is a fool’s game, unless it’s part of a strategy involving derivatives (options, futures) where you can tape together delta-neutral positions, or hedge out crippling risk.

Here’s what you do:

• You go long Bitcoin, and you shut up.
• Repeat

You don’t ask what the exit strategy is. This is what shitcoiner’s ask of their altcoins, which are parasites hanging around waiting for bitcoin’s halving every four years to do anything. This is about the separation of money from State. In thirteen years, when was the best time to sell bitcoin? Never. Bitcoin is the exit strategy.