Simon Black, aka Sovereign Man, is an early investor and student of cryptocurrencies, as well as an experienced and thoughtful businessman.
He offers some excellent perspective on today’s totally insane crypto market (including a pointed response to the ‘let it ride’ philosophy).
Worth a read.
As Simon points out, ‘let it ride’ is not an actual investment decision! My own crypto-heavy portfolio is based on my personal opinion that Bitcoin Cash is superior to actual cash, i.e. what governments have done to our money with debt based fractional reserve pieces of paper. If you don’t know what that sentence means, or you do and your first thought is “man that guy’s a little extreme” — take some money off the table!
Normal people do not think selling Bitcoin for Bitcoin Cash is “taking money off the table!”
Note: It is the opinion of BytesOfMan that selling Bitcoin for Bitcoin Cash is indeed taking money off the table.
At the time of this post, 1 Bitcoin traded for $15,110 and 1 Bitcoin Cash traded for $2,594 on GDAX.
Haven’t bought bitcoin yet? Use my referral link to sign up with Coinbase, and we’ll both get $10 in bitcoin when you purchase $100.