"Bitcoin Explodes Above $7000.. Then Crashes $600"... theory as to why

I can tell you with some certainty Scatty that I wasn't wrong on every point , I'm definitely angry I didn't buy some Bitcoin before now ...... so there.
 
henry76 said:
I can tell you with some certainty Scatty that I wasn't wrong on every point , I'm definitely angry I didn't buy some Bitcoin before now ...... so there.
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nobody speaks about the most important part of the investment: you only made money if you sold the bitcoins and have $$$$ in your account.

there are a lot of people that were rich on paper in all kinds of ponzi systems. the only who got really rich are those who got out in time.

question is now: when is "in time" for the bitcoin and all other cryptocurrencies. futur will tell.
 
The problem with your argument schweiz is that your statement can be said of each and every investment in history, but it is a fact that as of this moment and I suspect even tomorrow Bitcoin can be exchanged for hardcash very quickly, that probably is not true of most ponzi schemes, hell it's not even that true of holding stocks, which can take a few days to convert. I certainly agree that volatility could be huge , it could be worthless tomorrow , but it could treble , quadruple even , and since you can only lose 100% once but can gain several times that , being long Bitcoin would be a far safer bet than being short , in my view it would take a very brave person to short Bitcoin, since this is a trading website , will you put your money where your mouth is and short this ponzi scheme?
 
henry76 said:
The problem with your argument schweiz is that your statement can be said of each and every investment in history, but it is a fact that as of this moment and I suspect even tomorrow Bitcoin can be exchanged for hardcash very quickly, that probably is not true of most ponzi schemes, hell it's not even that true of holding stocks, which can take a few days to convert. I certainly agree that volatility could be huge , it could be worthless tomorrow , but it could treble , quadruple even , and since you can only lose 100% once but can gain several times that , being long Bitcoin would be a far safer bet than being short , in my view it would take a very brave person to short Bitcoin, since this is a trading website , will you put your money where your mouth is and short this ponzi scheme?
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  • in stocks there is an underlying value, what's the underlying value of bitcoins? thin air.
  • you can lose 10 times or even more. if you buy at 5,000 and the value goes up to 50,000 to crash then to 5,000 again, you lost 45,000. why? because everybody who has bitcoins thinks he made now already big profits based on the actual quotations.
  • this is a trading website, not a gambling website. for that reason I will never ever take any positon in bitcoins. not long and not short. your proposal shows that you are a gambler, not a trader. bitcoins don't fit in what is used in trading.
  • i know a few people that gamble on cryptocurrencies. i still beat them by far in performance. and i calculate my performance on the cash in the bank, not on quotations that can drop by 50% without anybody understanding why.
  • ever wondered why there are so many cryptocurrencies now? because starting them up brings huge profits for them. they create them out of nothing, without any real underlying value, and sell them to the greedy dreamers.
  • there are still more billionaires in classic trading then in bitcoins.
 
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