7/27 ANDY HOFFMAN (CryptoGoldCentral.com): Bitcoin, and “Intergenerational Wisdom”
The reason Adam Meister has been such an inspiration is that during times of crisis, his unwavering optimism and cold, hard, judgment of REALITY shines through – as ultimately observed in the “All-Out Bitcoin Optimism Fest” we taped together, mere hours from the February 6th bottom.
As well, his call in mid-July 2017, at the height of the panic-stricken scaling debate, that hard forks like BCash would be POSITIVE for Bitcoin, when nearly everyone else expected the worst. To that end, I immortalized that call in Monday’s article – as well as the “Hoffman Line” he coined, describing my equally unwavering belief that the $100 billion market level where institutions first entered Bitcoin, was where they’d provide impenetrable price support.
In yesterday’s 1-on-1 appearance, his limitless long-term Bitcoin optimism; coupled with his usual short-term price ambivalence; shined through again - when coincidentally, he warned of what might happen to the price if ANY sub-optimal ETF news arose…
…even completely misinterpreted and/or overblown news, like last night’s second SEC denial of the Winklevoss ETF - which in last night’s “Emergency Crypto Audioblog,” I described as a “Giant Non-Event”…
To that end, I want to bring up something he has spoken repeatedly of in recent weeks – that many in the 20- and 30-something crypto community care little about. Which is, the “intergenerational knowledge” older investors bring – of concepts as broad as financial markets, monetary dynamics, and how the “evil Troika” of Washington, Wall Street, and the Mainstream Media operate…as he again discussed last night.
Long-time readers are aware of the fact that I repeatedly note my 29 years of financial market experience - including more than 15 on Wall Street, and the CFA designation I have held since 1998. As well, my “four careers” in oilfield services, mining, bullion, and cryptocurrency – and 15 years of publishing free blogs and podcasts. The reason being, that I’ve picked up a thing or two about financial markets, sound money, and investor psychology – that particularly in the nascent, unregulated cryptocurrency sector, would seem valuable to an investment community, on average, a good 15-20 years younger than myself; few of whom, have significant financial market backgrounds. Moreover, I like to think that the biggest financial decisions I have made have been winning ones – though of course, there have been plenty of losers, too. That said, the biggest success of my career has been in cryptocurrency – and currently, Bitcoin’s outlook, in my view, has NEVER been stronger.
All older investors are not equal, of course - and past accomplishments in no way guarantee future success. However, those that have lasted the longest are most likely worthy of your attention – particularly in a sector where so little “intergenerational wisdom” is currently available.