No hate. If youve got 4 houses and 5 bitcoin,theres no shame in buying a depreciating asset. The hard work is done.Youve earned it.
I bet that if the Internet existed in the 17th century, there would be a poster writing pretty much the same thing you wrote, except about tulips. And, more to the point, because of the Internet’s broad reach and feedback loop (for lack of a better term), that famous bubble would have lasted a lot longer, as more and more FOMObros got dragged in.
Funny thing, I also don’t understand Dungeons & Dragons, but I know it’s not real. What I do understand is the evangelical zeal of True Believers and self-serving promoters that keep the dream alive. I look at the chart of the futures contract on the CME from time to time, and while there is no denying the movement, it is too wild for me. If I could theoretically control the risk as I can on a few other markets, then I would risk very short term ins and outs. But the waves are whitecaps. Not my thing. As I noted, too wild for me. I guess I’m just not very dynamic. And even if I could corral the risk within my comfort level in the context of the price action, I would still expect it to eventually implode. That wouldn’t change. In other words, I would possibly trade it under conditions suitable to me, but I wouldn’t buy into it. Because there’s no there there. It’s just hype with a science-y, finance-y twist. So I certainly don’t fault anyone for trading it. It’s the evangelicals that I take issue with.
It's the evangelicals that have made the most $ profit. Microstrategy is up over $14 billion on its bitcoin holdings. johnarb's initial MSTR call trade was one of the most profitable trades I've seen called out in real time here on ET. Maybe the evangelicals know something.
There's a big danger no-coiners or those who wont trade crypto will miss the biggest opportunity of their lives. Crypto may appear to be ponzi, but the believers and people with influence, money, power like Trump and Blackrock, will turn it into a reality vehicle.
I completely agree and I think that's wonderful. Bitcoin will always be there when they are ready. Since it's absolutely guaranteed that the USD Will die a horrible death, hopefully quickly rather than slowly, everyone will be forced to learn about Bitcoin. I'm even open to the fact that maybe something different might come along, but I see no way to build on the properties of Bitcoin if you are running for the exits. The exit is already there, you just have to walk through the door. But enough people don't yet smell the smoke so they stay. The properties of Bitcoin are just too juicy to ignore. For all those people who don't like those useless calculations, they sure as heck will like the security of Bitcoin and knowing that nobody can manipulate their holdings. The fact that it isn't something tangible you can touch, will one day be seen as a great benefit for when they need to escape in a hurry. Imagine watching a million dollars of real estate disappear simply because of politics or war. It's going to be so fun watching the game theory play out.
Guys...If Trump appoints an anti-cypto folk to the position of treasury secretary, BTC will halve in value. Hear me now and believe me later. Cash out now, and wait to get back in. That is the prudent choice.
When I had the back bumper fixed on mine because of paint peeling near the exhaust, the cost was $26k. Thankfully it was under warranty.