STOP TRADING BITCOIN OR HFSP! Rant by @PrinceySOV

To begin with, what is Bitcoin? When bit 47? A lot of people are familiar with lightning and liquid is effectively a layer two. That one two nine. What is taproot? Florin taproot, that's the first new protocol upgrade since Zagwet.

Difficulty adjustments. How do mnemonic seed words work? UTXO management.

What is Bitcoin? Welcome back to Bite Size Bitcoin. Today my good friend, Princey, is here to talk about trading. Now he's not going to be giving you tips and tricks and all the bullshit he is here to rant and tell you to stop fucking trading.

I love Princey, he has some amazing content and if you haven't checked it out already, I would suggest you go to the once bitten podcast. I really hope you enjoy this episode. Remember to share it with friends and family if you think it can be useful and save them from

getting wrecked and also anyone who hasn't checked out ungovernable misfits.com. Go and have a look, we have articles, video, more podcasts, more content and clothing. It is meant to be a home for all the ungovernable misfits.

Anyone who is interested in Bitcoin and anyone who is interested in change. Check it out and any feedback is welcome. Also after listening to this, if you can think of any Bite Size Bitcoin topics that you would like covering, then please do reach out and let me know.

Right, here we go. First of all, Max, I'm sorry. I promised you one of these rants and I completely forgot about it. So I don't know maybe these things happen for a reason because after these last week's events it's probably given me a good platform on which to base this observation, argument,

experience on and it's this idea of technical analysis. Well, first of all, don't shitcoin anybody that's ever going to listen to this. Stop shitquining. That includes your US dollars and your euros and your yen and whatever else is that you're putting

into investment vehicles that you think are going to save you in the future with a pension. Stop it. It's all dog shit, all of it. Bitcoin only, so this last week we saw the lunar blow up and this is going to lead us nice into what I have to say.

There were a lot of influencers out there trying to get people to buy lunar. Now, what's the difference between cryptocurrencies and Bitcoin when it comes to influencers? Well, what you'll find in the Bitcoin space is you have educators and in the everything else,

bullshit, shitcoin space, you have influencers who are highly paid to shill and pump certain projects and talk about certain projects in certain ways. Whatever their shiny new thing is, like NFTs, all bullshit, all of it, don't get involved.

So Bitcoin only, now we've seen a price decrease in Bitcoin and a lot of people are losing their shit and a lot of people are thinking, "Oh my God, am I falling for the biggest Ponzi scheme in the world?"

No, we've all fallen for the biggest Ponzi scheme in the world already and that is fiat currency, which is by design made to lose purchasing power over time. That is an absolute travesty. It's a disgrace. We've all been born into it.

We've all drunk the Kool Aid and thought we were all holding the best form of money at some point, whether that was dollars or pounds or whatever, euros. No, you're not. You're holding a piece of paper or you've got a balance on a digital screen, your bank account,

that is designed to lose value over time. Your purchasing power will go down. End of story. And why? Because they are always going to inflate the amount of money in that system. So you've got more money in the system chasing after the same or in the last two years,

less goods and services because they locked us all down and killed many businesses. You actually got less goods and services in the economy and you have trillions more dollars or whatever currency in the economy. So prices are just going to go crazy.

Now this brings us to technical analysis. I've got to be a little bit careful what I say, I suppose.

I love the guys out there in a Bitcoin space that are doing this. There's a reason they have 350,000 followers. It's because humans by nature are the degenerate gamblers. We want something for nothing very, very quickly. And that's what technical analysis promises you because you can

listen to the language that is used to bamboozle most people. And I've had a very, very close look at this in my own career. My own career was in foreign exchange markets. And I saw and had to suffer and had to listen to lots of technical analysts in my

time who are reading the tea leaves. And each year, there's a new thing. I remember every year, there was something else, whether it was the Bollinger Band, whether it was a Fibonacci wave, whether it was the MACD, whether it was the Golden Cross, whether it was the Head and Shoulders,

whether it was the Inverse Head and Shoulders, follow the cup and handle and all of this kind of nonsense that a graph makes a shape of over time. People start telling stories about that.

And start predicting the future. The only thing a graph is good for is to look at what's happened in the past. If you believe you can start predicting the future from that and go ahead, be my guest, but don't sign up to this idea that just because the graph is making a certain picture at a certain

time, and you can draw lines all over it as much as you like, that is either going to go up and it's going to go down. Stop trading. Just stop it. It's exhausting. And a lot of the technical analysis in air brackets is done by, and again, I don't want to be too disparaging. I want to stay

positive. But it's done by guys with normal day jobs that get home and draw lines on a graph

at their home in their spare time when they're trying to figure it out and sharing it. And people are taking it as gospel. Now, you can argue stock to flow ratio is different because as far as we know, Plan B has been in the financial markets for decades. So he has some background and we'll be

looking at this his whole day, rather than doing his nine to five and then coming back and trying to make predictions on the back of some graphs. And he did figure out a new way of looking at technical analysis by pinning it to the stock to flow ratio, which he learned about in

saves book to pick on standard. Still, it's a prediction. Stop predicting. Just stack. Just stack weekly and slowly. Do not go all in because you will panic and you will sell out because you do not have the risk appetite you think you have. I guarantee you that right now. Let me repeat it.

Your balls are not as big as you think they are because when all of a sudden your position is cut in half, which can happen. In fact, it does happen all the time in Bitcoin. You're going to sell out and then it's going to ramp up and you're going to buy back in and you're going to have half the

amount of Bitcoin that you started with. Now, if you're just dollar cost averaging, you don't have to worry about that. You can get on with your life, find a way to stack more fiat so you can just up your DCA. That's all you should be concentrating on. What's the flip side of a technical

analyst? Well, that would be someone that would look at fundamentals. In the world of stocks, I guess if you were a fundamental stock picker, you'd look at the underlying product or service that that company is offering. You'd look at the CEO, you'd look at track records, you'd look at the

markets in which they are operating. You'd look at assets, liabilities on the balance sheet, all of this fundamental stuff, boring. No one does it because we want to watch the graph go up with all the bells and whistles and the widgets and everything else. Now, Bitcoin could not be

more boring. It says fundamental as it gets. When you grasp that, you never, ever have to look at another chart ever again in your life. You don't have to sign up to some dodgy exchange that's going to offer you leverage and then you're going to get margin called and lose all your Bitcoin and all

your money. The fundamentals. What are the fundamentals of Bitcoin? Number one, the biggest one. There's only ever going to be 21 million. That's it. Guys, that's it. You've got an infinite amount of money chasing a finite amount of Bitcoin. We know it's finite and we know the issuance schedule. So,

that's fundamental number one, just 21 million. Fundamental number two, every 10 minutes. We know the issuance schedule. Every 10 minutes, a block is mined and added to the blockchain. All you need to know, six and a quarter Bitcoin at time of recording is rewarded to that mining

pool. Voila. So, fundamental number three, that gets halved every four years. The halving. Every four years, that block reward gets halved. So, the next one will be halved to 3.125 and on we go every four years until we mine all of the Bitcoin into existence,

which is scheduled to be around May 21 40. You cannot say this for any other asset that's ever, ever been investable. You just can't. It doesn't exist. This is a one-shot deal. It doesn't get any clearer than that. So, you need to concentrate on this. Only are we going to be

21 million. Every 10 minutes, every four years, and here's another fundamental to throw in there. Every 2016 blocks, which is roughly around two weeks if we're running to schedule. So, every 2016 blocks, what we have is the difficulty adjustment. And that is where the whole network is monitored

by how quick the blocks are dropping onto the blockchain. Is it too quick? Is it too slow? Because we need that average of 10 minutes. And the difficulty adjustment is there to do exactly that, to make it harder or easier depending on whether the blocks are coming in too fast or too

slow. Fundamental, that's not changing either. It's that simple. So, put all of the TA aside, technical analysis be damned. Have some fun on Twitter, if you like, but do not

don't start trading on lines and squiggles drawn by somebody. Start investing on the fundamentals of Bitcoin because they're built in stone on the hardest foundations ever known in any financial market. It's the hardest money we've ever had and it's getting harder. Because if you look at a

difficulty adjustment over the last 12 years, it's just going up. So, the hardest money is getting harder. And this is your chance to stack it. So, please don't piss away any of your Bitcoin. Don't piss away any of your fiat trying to make more Bitcoin. Stack your fiat, mine your fiat, if you

like, get it into Bitcoin. Try and live as frugally as you can. Don't over-complicate this thing. Bitcoin has got you. Max, I love what you're doing with this. Thank you for contacting me and asking me to come on. I hope this was the kind of thing you're looking for. Take care, guys. Really appreciate it.

And yeah, catch you. I'll catch you on the podcast another time soon. I really hope you found that useful. I've designed Bite Size Bitcoin to break things down. The idea is that you can also share these with friends and family and they're much more digestible.

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