Bitcoin "Freefall"

nooby_mcnoob said:
There is an multinational kerfuffle upcoming. Do you think the states involved will tolerate your little bits. They will be made illegal. How will you buy milk then?

Alternately: the elites own enough Bitcoin to carve out an exemption.
More...
I trade. I don't own.
 
virtusa said:
If I would be interested I would never miss the big moves because I have a simple logic that I follow: if the market goes up and it is confirmed by my system I would go long. If the position has to be closed because the market is reversing, I would close my position. If the market would again reverse and go up, I would go long again.

I have no fear of FOMO, as there are always opportunities to still catch part of the trade. Just jumping in because of FOMO is the most stupid thing you can do, as statistically it will end bad in the long run. I think you bought because of FOMO.
FOMO is also abused by the crypto fans to convince other people (victims) to get in at very high prices. A few of these people gave you likes each time you bought. They need cannon meat to push BTC up, while they wait on the sidelines and let others take all the risk.

For these trades they gave you likes. Cynical. They liked that you went down 36.99%. These crypto fans clearly have no clue about what the market will do. But that I knew already a long time.
View attachment 275995
More...
virtusa said:
If I would be interested I would never miss the big moves because I have a simple logic that I follow: if the market goes up and it is confirmed by my system I would go long. If the position has to be closed because the market is reversing, I would close my position. If the market would again reverse and go up, I would go long again.

I have no fear of FOMO, as there are always opportunities to still catch part of the trade. Just jumping in because of FOMO is the most stupid thing you can do, as statistically it will end bad in the long run. I think you bought because of FOMO.
FOMO is also abused by the crypto fans to convince other people (victims) to get in at very high prices. A few of these people gave you likes each time you bought. They need cannon meat to push BTC up, while they wait on the sidelines and let others take all the risk.

For these trades they gave you likes. Cynical. They liked that you went down 36.99%. These crypto fans clearly have no clue about what the market will do. But that I knew already a long time.
View attachment 275995
More...

I'm not sure why you're taking my trade history and marking them to market like they are trades that been closed. All of those positions are OPEN buys and any losses or gains are currently UNREALIZED because not one completed trade has even been made yet. All I've done is buy. I haven't sold a thing yet. If that's the approach you want to take, that's fine... please just do that when these positions have flipped to the positive and post the unrealized gains as well. The thing is... I know you won't do that. Why? Because every time BTC has a rally and approaches an all-time high, you literally just stop posting and go completely silent. And then when the crypto market takes a dip, you come out with blazing guns loaded with negative comments and spreadsheets showing unrealized losses.
 
Baron said:
I'm not sure why you're taking my trade history and marking them to market like they are trades that been closed. All of those positions are OPEN buys and any losses or gains are currently UNREALIZED because not one completed trade has even been made yet. All I've done is buy. I haven't sold a thing yet. If that's the approach you want to take, that's fine... please just do that when these positions have flipped to the positive and post the unrealized gains as well. The thing is... I know you won't do that. Why? Because every time BTC has a rally and approaches an all-time high, you literally just stop posting and go completely silent. And then when the crypto market takes a dip, you come out with blazing guns loaded with negative comments and spreadsheets showing unrealized losses.
More...

The real situation is market to market pricing. You have an open loss, so that's reality at this moment. All the rest is wishful thinking. We only know for sure that at this moment there is a big loss, nobody can deny that. And what future will bring, nobody knows too. If you know that BTC will go up strongly, you would have know too when to buy and when not. But reality proofs the opposite. If you have no idea that it goes down, how can you have any idea that it will go up?
I used your trading history as hard proof of what I posted. I thought that you wanted to show what would happen in reality with your trades. But apparently it is only usable in case BTC goes up.

I posted already a long time ago that crypto's are scams and I never changed my mind. I even show, based on numbers everybody can check, that BTC is already struggling to make returns the last few years. The compounded rate of return, starting in 2010, went down since april 8,2013 by 65.6802%, showing the weakness of BTC. Till today nobody can proof that statement to be wrong. If it would be wrong many crypto fans would already have taken the opportunity to take me down.

So if BTC goes to zero and you don't close your positions you have no loss??? Because it is UNREALIZED???
If you have shares from companies that went broke, you have an UNREALIZED loss because you never closed your position?
Companies have to value all assets market to market when making balances. There is a reason why they have to do that.


Baron said:
Because every time BTC has a rally and approaches an all-time high, you literally just stop posting and go completely silent. And then when the crypto market takes a dip, you come out with blazing guns loaded with negative comments and spreadsheets showing unrealized losses.
More...
The crypto fans do exactly the same. They all appear when BTC is skyrocketing. And they also use unrealized profits as they stay in their position.
"The pot calling the kettle black"

I posted this when we were just after the top of november, which confirms that I don't hide when prices are rallying:
baron.jpg


And since that post we went down very hard, which confirmed my post being right.
 
Last edited:
You seem to have this burning desire to be told you were right. So I want to make it very clear that your post that you quoted above from November 16th was absolutely correct as we look back on it in hindsight. Congrats. If I could pat you on the back right now, I would. However, it's interesting you posted that particular comment instead of marking the account to reflect the $4k in profit up to that point.

Which gets us to the point I was trying to make about marking unrealized gains and losses. You only do it when things turn to the negative.

virtusa said:
I posted already a long time ago that crypto's are scams and I never changed my mind.
More...
I realize that now. You're like Peter Schiffe. He literally said in an interview the other day "I've been warning people about Bitcoin since it was $10."

...and he was actually proud of that statement. If he shorted it at $10, I wonder what his unrealized loss would be today. :D
 
Baron said:
...
...and he was actually proud of that statement. If he shorted it at $10, I wonder what his unrealized loss would be today. :D
More...

Ooooh! *raises hand I know the answer to that question!*

It would the current spot price - $10

Gimme' my cookie!
 
virtusa said:
The real situation is market to market pricing. You have an open loss, so that's reality at this moment. All the rest is wishful thinking. We only know for sure that at this moment there is a big loss, nobody can deny that. And what future will bring, nobody knows too. If you know that BTC will go up strongly, you would have know too when to buy and when not. But reality proofs the opposite. If you have no idea that it goes down, how can you have any idea that it will go up?
I used your trading history as hard proof of what I posted. I thought that you wanted to show what would happen in reality with your trades. But apparently it is only usable in case BTC goes up.

I posted already a long time ago that crypto's are scams and I never changed my mind. I even show, based on numbers everybody can check, that BTC is already struggling to make returns the last few years. The compounded rate of return, starting in 2010, went down since april 8,2013 by 65.6802%, showing the weakness of BTC. Till today nobody can proof that statement to be wrong. If it would be wrong many crypto fans would already have taken the opportunity to take me down.

So if BTC goes to zero and you don't close your positions you have no loss??? Because it is UNREALIZED???
If you have shares from companies that went broke, you have an UNREALIZED loss because you never closed your position?
Companies have to value all assets market to market when making balances. There is a reason why they have to do that.



The crypto fans do exactly the same. They all appear when BTC is skyrocketing. And they also use unrealized profits as they stay in their position.
"The pot calling the kettle black"

I posted this when we were just after the top of november, which confirms that I don't hide when prices are rallying:
View attachment 276102

And since that post we went down very hard, which confirmed my post being right.
More...
Isn't he just building an investing position?
 
You must log in or register to reply here.
Back
Top