Scott Debevic
1 min readAug 11, 2021

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I believe that you are sharing an incorrect thesis. Buying Bitcoin shouldn’t be about getting rich but rather about not becoming poor.
Consider the options we have for housing our wealth:
1) cash/savings-can’t keep up with inflation
2) stocks-historically high priced based upon valuation metrics. Can be diluted. Open to huge amounts of counter-party risk. Very easy to manipulate (see Robinhood, Bill Ackman, Tesla)
3) bonds- can’t keep up with inflation. Terrible risk/reward situation
4) precious metals- manipulated, costly to store, hard to verify and transfer, haven’t held up as a store of value
5) real estate-Wanna talk about high transaction fees? Illiquid, heavy carrying costs, manipulated by central bank policy

Not owning some Bitcoin right now is bad advice in my opinion. I agree that altcoins serve a purpose and provides greater upside potential, but the risk is significantly higher.

We need to work on changing the narrative from crypto being just about getting rich quick. I don’t think Bitcoin is perfect, but I feel much better owning some rather than not having any. Keep in mind that I had your same views when Bitcoin was $800. Boy was I wrong!

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Scott Debevic
Scott Debevic

Written by Scott Debevic

My goal is growing wealth and earning passive income. Mainly focused on Bitcoin and crypto. Feel free to contact me at: scottdebevic@gmail.com

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