Crypto The problem with crypto investing

Everything needs to be measured against something to track its performance.

 

'Shark Tank' star Kevin O'Leary has changed his mind on bitcoin - saying ETFs have drawn him to the asset he once called 'garbage'

 

Seems like a touchy subject for some

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reminds me of the gold bugs who used to pop up every now and then, annoy everyone with their prostelyzing, have a meltdown and then either get banned or leave. Ultimately, they were all wrong. The global economy didn't collapse, inflation didn't soar out of control, currencies didn't collapse, the world didn't end.

Spot on with the video. If you were all in on something and were relying on ever great fools to appear in ever greater numbers so that you could unload your bags, you would be a fanatic too. At the deepest level, your life is literally on the line because if it doesn't pay off, everything you wrapped your identity in dies, it would feel like the literal death of the self. Completely understandable. Any valid criticism leads to existential angst "is the belief system i follow all a lie?" so it is ferociously opposed, because you are fighting for your identity, your sense of self, your life. Instead of any valid criticism being discussed like adults, it is seen as a threat and MUST BE DESTROYED! Their very existence is at stake.

The thing with these crypto shills is they tend to skew young, they were not around when the gold bugs were doing their thing so this is all new to them. They haven't been through enough cycles to figure this stuff out yet and so they preach to the more experienced investors and come across as preachy jerks. We have seen it all before, they think they have something genuinely original to offer here, poor things. We should pity them, really.

 

great thread

"The reason Bitcoin advocates are so loud, angry and obnoxious is they know the influx of money to pay out their position needs to come from somewhere. And they desperately need it to come from your pocket."

https://twitter.com/smdiehl/status/1367409708517236736

Stephen's blog
blog

 

https://www.financemagnates.com/cry...s-are-going-rampant-in-nigeria/?tg=1614846489

 

coiners: the legacy, corrupt, fiat based system run by dodgy bankers has to go, we can do better
bankers: we wanna piece of all that fiat flowing into the crypto ecosystem, here is a bitcoin ETF
coiners: yay! validation, number go up

shill to billionaire: look, if you put 1% of your net worth in this and tell the world you did so, number go up
if it goes to zero, you were already mega wealthy anyway and if number go up, you get richer
billionaire: i'm in
penniless dreamer who wants to get rich quick: see, all the billionaires are in on it, validation! I'm all in.

 

institutional adoption is inevitable

 

India to propose cryptocurrency ban, penalising miners, traders

India to propose cryptocurrency ban, penalising miners, traders - source

 

Investment
noun [ C or U ]
uk

/ɪnˈvest.mənt/ us

/ɪnˈvest.mənt/
B2
the act of putting money, effort, time, etc. into something to make a profit or get an advantage

There's issues investing in any asset class, from shares, property, business etc. You can argue all day long and point out all the issues, at the end of the day people have made profit from, people have lost money from this- just like any other investment.

From the few posts I've read in this thread, you seem to be intent on sharing your belief about Bitcoin, how it is so "bad" and why people continue to invest in it. You seem exasperated that "coiners" don't see it from your point of view. To the point where you've made 7 pages of posts, and I'm sure many more to follow.

I hope it makes you feel better, shouting at the ocean for the waves to stop.

 

I have no interest in attempting to undo the brainwashing of cult members. It is a dead end.

This thread is for those who want to hear an opinion other than that of bag holding shill cult members, that's it.

If you read more posts in the thread you will see that i actually think the price of Bitcoin will rise and have made money on it in the past, no disagreements there.

Madoff's critics were initially dismissed at first too, didn't stop the ponzi from collapsing now, did it?

 

There is no doubt, some people are getting a good outcome from crypto. That alone doesn't make it a good investment decision.

https://www.pwlcapital.com/evaluati...-what-if-bad-things-happen-to-good-investors/

 

What happens when too much of the fiat realm, and then the physical asset realm ends up dragged into this arena? How do you unwind the transfer of tangible assets into this ecosystem in the end? It could get rather messy couldn't it.

 

I love crypto for the problem it is trying to solve (the credible projects anyway). I don't play a whole lot nowadays but made some money trading here and there. Still hold some because well that's only made sense since I bought some btc at $5500 after it crashed in 2017. Moved most of my holdings into property which I enjoy more. Plan doing the same with the rest. It's a fun train to be on I must say. Much more comfortable now though with little exposure and the majority of wealth in property. Helps me sleep better at night

 

okay, let's evaluate the situation

stimmy cheques spent
no more lockdown
sports and sports betting are back
all the spare cash has been sunk into buying dips all the way down
institutions stopped coming
Grayscale flame out
Elon judas (no surprises here)
regulation coming in force

scenario that may play out - crypto winter ensues (again) no big deal, just crypto doing it's thing, right?
this time could be different though, if regulators get tough and clamp down hard, that could be it for pumping to new all-time highs to FOMO in retail again. Perhaps we have seen the all-time highs forever?

crypto being crypto, anything can happen. who knows what bag of tricks they will pull next?

 

The most expensive pizza you'll ever eat.


Man who spent bitcoin now worth £306MILLION on 2 pizzas says he has no regrets

 

I thought they did that with US dollars?

 

Buy buy buy. Currently Titan is very cheap.
Mark Cuban Says ‘Got Hit’ as Titan Token Price Crashes From $64.04 to Zero

 

LOL! Nice video it describes the situation perfectly.