October 24 | Cost of Waiting

The most critical

I’m not going to waste your time with the usual fundamentals. I have written about them many times, and there are even better sources out there.

I’ll simply show you one of the most important and critical features.

Last week, I received a jarring message from eToro stating that due to unresolved issues with the SEC, they were closing operations in the Philippines, and I had only a few weeks to withdraw my funds.

In a whirlwind of action, I sold off my positions on eToro and requested a withdrawal of my funds to my Philippine bank account. The process took one week.

Adding insult to injury, my bank account had a limit of USD 900 per day for online withdrawals, which meant that it would take two weeks to fully re-invest the cash in the market.

As of today the opportunity cost of waiting has been $1,900.00 and could be more if BTC continues to climb higher while my investable cash is stuck in my local bank.

And this is what most people don’t get, and why we use and invest in the Bitcoin network.

Imagine if my eToro money had been converted to Bitcoin—I could have transferred it to a crypto wallet in less than 20 minutes! No oppressive withdrawal limits, no frustrating transaction fees, and no lost opportunity costs—just a smooth and speedy transfer, made possible by the power of the Bitcoin network.

Sidebar: Etoro is my trading account only. My main equity broker is IBKR, and my crypto assets are in my offline cold storage, while I also have online wallets for trading.

Thanks for spending a moment of your time with me today ???