Doc's Daily Commentary

Mind Of Mav

Is Buying Bitcoin A Terrible Or Great Idea Right Now?


After an ATH of $69K in November 2021, the Bitcoin price is now around $30K. This represents a 56.5% drop in the price of Bitcoin from its ATH.

For those who only see Bitcoin as a speculative investment, this is certainly a time of extreme fear. Unfortunately, this category of people is still dominant in the Bitcoin world. I say unfortunately here because Bitcoin is much more than just another speculative investment.

And those who don’t take the time to understand the why of Bitcoin are missing the point.

This is where you need to be able to step back and see the bigger picture. For that, there is no magic bullet: you need to have made the effort to understand the why of Bitcoin. Unlike fiat currencies whose design is such that your purchasing power is doomed to erode over time irreparably toward zero, Bitcoin is a unit of wealth, not a unit of debt.

You need to understand this nuance that makes all the difference.

The price of Bitcoin has changed from $69K to $30K, but the source code remains the same.

The design of the Bitcoin protocol has not changed. But it is the Bitcoin protocol that gives you incredible guarantees for your future, not the price at any given moment.

Back in December 2021, I said that buying Bitcoin was just the first step. Then, to take full advantage of it, you need to understand the why of Bitcoin and in particular the 4 rules at the heart of the Bitcoin protocol:

1. No monetary inflation

2. No confiscations

3. No censorship

4. Anyone can verify rules 1 to 3 at any time

These are the 3 protectives “No” that Bitcoin allows you to verify at all times.

As the price of Bitcoin falls by more than 50% once again, you just have to ask yourself if these 4 rules are still guaranteed. The answer is obviously YES. This is what is essential.

Behind these rules that can be verified at any time, the Bitcoin protocol gives you 10 additional guarantees that will make all the difference in your future if you choose to become a Bitcoin HODLer no matter what:

1. There will never be more than 21 million BTC in circulation

2. 10 minutes delay on average between the issuance of each block of transactions

3. An adjustment of the mining difficulty of the Bitcoin network every 2,016 mined blocks

4. A decrease in the reward given to miners for every 210,000 blocks issued

5. A consensus algorithm based on Proof-of-Work

6. Bitcoin is the most secure decentralized network in the world

7. A permanently available network

8. A never hacked network

9. The data of the Bitcoin Blockchain is immutable

10. The Bitcoin code is open source

Whenever the price of Bitcoin has fallen by more than 50% in the past, these guarantees have always been preserved. That’s happening again today. This is the main reason why the Bitcoin price has always recovered and why we have then been able to reach new ATHs for the Bitcoin price every time.

As long as the guarantees that the Bitcoin protocol gives you are preserved, you can expect this to be the case. Bitcoin is thus like a phoenix that rises ever stronger. Opponents of Bitcoin find this hard to accept, but it is a reality you can check at any time because the Bitcoin source code is open.

Once you understand that the price of Bitcoin at a given moment has no impact on the guarantees that its protocol gives you, you will understand that as long as the design of the Bitcoin protocol remains the same, nothing changes. What changes here is simply the perception of investors, most of whom have a short-term view. They make the mistake of letting their emotions guide their choices with Bitcoin.

This is a trap that I encourage you to never fall into. If you do, then you will see the current situation as an opportunity. That’s why I chose to accumulate more BTC at $30K last week, and why I wasn’t afraid when the price of Bitcoin subsequently dropped to $25K. I know full well that in the future these price levels will be considered particularly cheap.

It’s up to you to take the right time horizon with Bitcoin: the long-term one.

The ReadySetCrypto "Three Token Pillars" Community Portfolio (V3)

Add your vote to the V3 Portfolio (Phase 3) by clicking here.

View V3 Portfolio (Phase 2) by clicking here.

View V3 Portfolio (Phase 1) by clicking here.

Read the V3 Portfolio guide by clicking here.

What is the goal of this portfolio?

The “Three Token Pillars” portfolio is democratically proportioned between the Three Pillars of the Token Economy & Interchain:

CryptoCurreny – Security Tokens (STO) – Decentralized Finance (DeFi)

With this portfolio, we will identify and take advantage of the opportunities within the Three
Pillars of ReadySetCrypto. We aim to Capitalise on the collective knowledge and experience of the RSC
community & build model portfolios containing the premier companies and projects
in the industry and manage risk allocation suitable for as many people as

The Second Phase of the RSC Community Portfolio V3 was to give us a general idea of the weightings people desire in each of the three pillars and also member’s risk tolerance. The Third Phase of the RSC Community Portfolio V3 has us closing in on a finalized portfolio allocation before we consolidated onto the highest quality projects.

Our Current Allocation As Of Phase Three:

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The ReadySetCrypto "Top Ten Crypto" Community Portfolio (V4)

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What is the goal of this portfolio? 

The “Top Ten Crypto” portfolio is a democratically proportioned portfolio balanced based on votes from members of the RSC community as to what they believe are the top 10 projects by potential.
This portfolio should be much more useful given the ever-changing market dynamics. In short, you rank the projects you believe deserve a spot in the top 10. It should represent a portfolio and rank that you believe will stand the test of time. Once we have a good cross-section, we can study and make an assessment as to where we see value and perhaps where some diamonds in the rough opportunities exist. In a perfect world, we will end up with a Pareto-style distribution that describes the largest value capture in the market.
To give an update on the position, each one listed in low to high relative risk:
SoV/money == BTC, DCR
Platforms == ETH, XTZ
Private Money == XMR / ZEC / ZEN
DeFi == MKR / SNX and stablecoins
It is the most realistic way for us to distill the entirety of what we have learned (and that includes the RSC community opinion). We have an array of articles that have gradually picked off one by one different projects, some of which end up being many thousands of words to come to this conclusion. It is not capitulation because we all remain in the market. It is simply a consolidation of quality. We seek the cream of the crop as the milk turns sour on aggregate.

Current Top 10 Rankings:



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