I am about 70% to my original Bitcoin hodling target. And I am stopping my accumulation of BTC for now.
Here is why.
In my last post, I wrote about transferring my BTC to my cold wallet.
As I was doing it, it is a pretty nerve-wracking experience. :(
No, I wasn't transferring millions in a single transaction.
I was nervous because I can't afford to lose whatever little amount of BTC I have. :)
I can laugh now because the transaction is over, after a long wait.
The sense of relief when I saw it gone through is huge!
The wait was perceptually longer, and filled with anxiety because I wasn't entirely sure what I was doing with the addresses and the likes.
Totally understandable since such BTC transactions are not cheap and I don't transact that frequently.
Certainly not as much as I transact on Hive.
So I was wondering, why the hell would people want to transact value across the internet through BTC? A lot of things can go wrong.
Furthermore, if BTC goes to a million, each transaction out of the cold wallet would cost way lots more than today. How would that pan out?
The value of bitcoin is kind of limited for non-whales, considering the trouble common folks had to go through to use it. By use, I mean transact value. Anything else?
This corroborates what @taskmaster4450 spoke about when he questions the utility of Bitcoin in his latest video.
Having said that, I am keeping some bitcoin, sorry sats, like a vintage postal stamp that might one day become precious. Not pinning much hope in that.