This logic smacks of delusion and you hear it all the time. It’s exactly the thinking that drives bubbles.

“He is just gutted he missed out on the easy money, what a sucker”

Do you really believe that the very large number of people saying that Bitcoin is a terrible idea are all saying it because they’re jealous? Even those who are already rich?

If you believe Bitcoin is going to be so fantastically valued in the future, then why wouldn’t they just buy now and be boosting it? If bitcoin’s gains have already been fully realised, why haven’t you sold?

There is no scenario where Bitcoin ends well. It’s not only environmentally disastrous, it’s a giant Ponzi scheme that incentivises holders to keep pumping it.

The reason HN is bearish on Bitcoin is because those without skin in the game understand the tech, can see the problem, and have no stake in boosting it.

The best situation a long term Bitcoin holder can hope for is that they get out before the rest or that the government rescues them before Bitcoin immolates the planet or goes to zero. The former might happen because institutions are insanely buying in.

But according to the Bitcoin creed I’m saying this because I didn’t get in early. And the gigantic gains you’re predicting aren’t enticing me in... why? Because I’d rather criticise it after missing out on past gains rather than realising I’m “wrong” and buying now?

He was very early and ‘In 2021, specifically on February 12, Nassim Nicholas Taleb decided to tell the public that he was selling some of his bitcoin. Moreover, Taleb criticized a number of people within the crypto community toward the latter end of his tweet.’