Baron's Crypto Trading Journal

[Frederick Foresight]

I keep shouting this over and over again. I'm in it for the transformative power that it will have on humanity. The central bank cartels have destroyed this world enough and many of the huge problems we have today are directly linked to what central banks do. Now that we are in the end game of high debt, and with the US needing to print $1 trillion every year just to pay the bills, its simply a guessing game of how and when this will all collapse, not if.

So perhaps instead of saying everyone is in it to get rich, maybe you should say many of us see the writing on the wall and are trying to protect what we have because we can see the ship sinking.

Sounds like you found religion. May it bring you comfort and peace. And perhaps wads of cash as a mere afterthought?

 

[Pekelo]

many of us see the writing on the wall and are trying to protect what we have because we can see the ship sinking.

I don't want to get into a crypto debate (too late?), because it is Baron's investment journal, but you are incredibly naive.

If you think that an easily copied, forkable to infinity crypto is the medicine to society's ill, I have nothing to say to you. Just because you are a nice guy and trying to help all of us, that doesn't mean you are correct about PRICE.

You see with a new invention it doesn't matter what the original intention of the inventor was. What matter is what the users eventually use it. I invented the hammer to put nails through wood, but people started to kill each other with it. Got it???

 

[virtusa]

Of course he does, but I have also tried to answer many times and just when you think you're getting through, he comes right back to "how do you value it". No matter how many times you try, he just isn't getting it.

Or maybe you are not getting it...

I have a brother who always says: why are people so difficult.
My answer: Ever thought that maybe YOU are difficult.

 

[virtusa]

This makes no sense. If you are convinced something is going to zero, then you have to agree there is money to be made in taking the short. Now of course if you are scared its going to 100k or 500k first and that is why you aren't shorting, well, that is a different matter. The only reason you don't short is because you know there is a chance it will go to the moon. So every person who doesn't short knows deep down that there is a small chance that bitcoin can make new ATH's.

I already posted many times on ET, and will now poist it a last time:

• I never invest in scams.
• I make more money with much less risk in daytrading the ES.
• I would be an idiot if I would opt for BTC instead of ES.

You say Deaddog does not get it. You have the same problem. You don't get it either. Even my children can read and understand what I wrote above.

 

[virtusa]

Imagine if governments were in charge of running telecolumincations. How fucked up would this be? We already see what happens when governments are in charge of energy. Some countries are clearly struggling. So I don't want governments in charge of creating and issuing money. All they should do is collect taxes and distribute this to pay for things that everyone in society will benefit from. But all the problems facing us today are a result of central banks. If we can take power away from governments and central banks to issue money, there is a hope that humanity will be that much better.

I honestly fear the poor and oppressed people rising up and creating havoc, and rightfully so. look at how scared China was when people started to protest. How many people do you think it takes to kill a few government officials or a few billionaires before we go into full on anarchy? What stops a poor person who has nothing from revolting? Governments today print money simply to stop the people they fucked over from revolting.

Now we have officials saying governments need to cause unemployment in order to control inflation. Look it up... it was said just a few days ago. How fucked up is that the government who created this mess now needs you to lose your job just so that you the prices of shit people need come down. And this is who you want in charge of money creation?

First problem is the first word of the above text. IMAGINE.
With imagination you can manipulate everything so that it fits in your story.
I prefer reality instead of imagination. Reality is that 2022 was a disaster for BTC. BTC would go up to 100K or even to 10MM, depending on your imagination.
And you want to replace the government controlled system by an anonymous system controlled by crooks?

Did you ever ask yourself why famous people get paid millions to make publicity for crypto's, telling people they should invest in crypto's? A successful product does not need that, but for a scam it is essential to succeed.

 

[virtusa]

I wish he got through to me sooner with his crypto pumping... I could have seen the light earlier and become rich!

Mickey, and you FF are both old coots. Don't you think the world around you is changing in ways that is difficult for you to accept? Dylan truly is quite intelligent. Believe it or not, he is trying to make the world a better place so that when you are super old, you get taken care of. The way the world is heading now, there won't be anything left.

Perhaps you're like other rich boomers who got lucky being born during the boom times and think you made it simply because of dropping interest rates for 40 years and post war productivity. But the next 40 years will be much different. I hope this new generation has the balls to fuck over the boomers who have essentially stolen the future from the young people.

Again a post based on IMAGINATION. You have no hard or high probable proof of that. That's typical for crypto diehards, they make up stories about what will happen in futur. If all of you are so good in predicting the futur, why did Baron make 23 disasterous and losing trades? If he even has no clue when BTC is low or high, how can he make any reliable prediction about the futur? These 23 trades were based on the prediction that BTC would go up. 23 predictions in a row that failed.

 

[hilmy83]

You people sure have a lot of mental bandwidth to go back and forth about this crypto.

Personally, I believe in the space, but I'd rather invest in actual companies that can take advantage of the tech like Visa or some other payment processing (paypal, etc).

Putting too much into crypto itself, nah. I don't know if historically people have made fortunes holding on to non yielding assets.

 

[Frederick Foresight]

If you are convinced something is going to zero, then you have to agree there is money to be made in taking the short. Now of course if you are scared its going to 100k or 500k first and that is why you aren't shorting, well, that is a different matter. The only reason you don't short is because you know there is a chance it will go to the moon. So every person who doesn't short knows deep down that there is a small chance that bitcoin can make new ATH's.

I'm not sure it's that simple. There is the matter of risk control. Most of the trader interviews and biographies I've read over the years focused on risk; the need to understand it and control it as much as possible. I don't recall any consistently successful traders I read about who embraced risk; that seems to be the purview of excitement-seeking blowup artists.

And so, seeing how wild and particularly unpredictable the ride can be with cryptos, those traders who place a premium on longevity may choose to opt out. From the outside looking in, it appears that cryptos are being held up by little more than hot air. Sure, there are people in the crypto space who are much smarter than, say, people like me. But there are also much smarter people who don't buy into the premise. And so, the rest of us have to choose which group we side with. Erring on the side of caution seems prudent, especially when some of us don't even buy into the premise ourselves, coupled with the potentially extreme price fluctuations.

 

[virtusa]

Message number two is for all of the crypto haters. One of the biggest lessons that you will learn is that when you try to cling onto a specific snapshot of life and resist new technologies and ways of thinking, you eventually discover that there's nothing left to hold onto. The pace of change never stops and the rest of the world moves on without you, and no matter how much you want to believe that the current way that you've been brought up is the only way, the next generations to follow will show you that the only true path of moving forward in life is not clinging on to what you are familiar with, but instead letting go and embracing the present moment of constant change because it's all you have in this life to be a part of. Now, you certainly have the right to live and dwell in the memories of your cassette tapes, fax machines, newspapers on your driveway delivered by the paperboy, and physical buildings called banks that hold metal coins and paper bills. But you must understand that life moves on no matter how much you want to cling to the past, and just like when the day came that you had to lay the flip phone down and embrace the smartphone, the day will come when you'll have to get rid of the cash underneath your mattress and embrace your crypto wallet.

Give Baron some dog turd, and he'll wrap it up nicely and sell it for a lot of money. He has a story for everything. He will not lose any money as long as he does not sell BTC. But if the real estate prices make his house worth much more, then that's a profit. But if we follow his earlier logic, his house has no added value, because it was not sold. Or does he finally agree that at this moment he is losing over $77,000...

Why are all people who don't agree with you haters???

All products that you mentioned have real practical use in my life. NTC has no use at all. It is just some code.

About your "resist new technologies and ways of thinking".
I see that we in Europe accept faster new technologies then you. We pay 99% of all our payments with a bank card or with our phone. So no cash and the prehistorical cheques that you still use don't even exist anymore for over a decade.

Maybe read this:
In March of 2000 the Gramm-Leach-Bliley Act extended the banking industry's ability to offer securities and insurance services through the creation of financial holding companies. This banking reform now affords U.S. banking institutions the opportunity to provide a broader and more competitive array of financial services, more like banking institutions in many other developed nations, including those in the European Union.

Cassette tapes, fax machines, newspapers on your driveway delivered by the paperboy, and physical buildings called banks that hold metal coins and paper bills we know only from seeing them in american movies.

 

[virtusa]

Oh yes, I do agree that I follow his market predictions and he often gets it right. But this fight he had with John is a different matter. Plus, John actually outlines specifically what he is doing whereas virtusa plays it safe with just predictions. Not saying there is no value, but the level of transparency in no way matches to what John shows.

I am not giving away my secrets. I just gave what I wanted to give. It is up to you to do the job.