“Crashes are just discounts” is one of the more pernicious financial memes around.

Crashes have always been discounts.

In theory that’s true if you’re holding long term instruments with reasonably stable value and growth (which is not guaranteed for crypto currencies) and happen to have the liquid cash to buy. But in practice it’s often not true, as most investors who try to “time the market” end up underperforming the actual instruments they trade in.

It’s really not true if you have any leverage at all, where a crash might increase your margin requirements or wipe you out entirely.

I remember when Hertz was deeply discounted this last spring. What an amazing deal.

and the hodl-gang's interpretation: "dips exist only so that coins could go from weak hands to strong hands" :D

Thanks for making me laugh. Kind of reminds me how "weak hands" swayed by WSB, bought GME just before its share value tanked

I'm guessing you didn't buy any stocks around april last year? :(

I take it back, “you’re just jealous” is absolutely the most pernicious financial meme.

Speaking of memes, a crash is discount only when enough people believe it is to make it so.

Exactly. Just because people are paying 50k a piece doesn’t mean people won’t suddenly wake up and realize that bitcoin is actually inferior to most of the other cryptocurrencies in terms of utility