Can't see who you replied to, but I reckon it's tsznecki. I only have 2 or 3 of the worst offenders on block. If it's him, this psychopath must be logging out a multiples times every day and meticulously copying and pasting each and every single post of those who block him, pretending it's a legit reply and then spewing his nonsense and vomit. Never seen a crazier guy than him. Baron confirmed the block works perfectly fine. Each and every time this guy even references me means he is logging out, reading what I or others posted and then replies and pretends we don't know how to handle the block function. Total nutcase
Bitcoin has topped.
- Thread starter Master Pu
- Start date
You win a cookie. White-chocolate macadamia nut.
Baron
ET Founder
The guy in the video has lost his mind. Getting rid of all your crypto because of Tether accounting problems is like saying you're getting rid of all your stocks after you heard about the Enron fraud. Stupidest logic I've heard in a long time.
The problem with that guy and a zillion others is that they are basing their trading decisions on random tweets from either a celebrity or from someone they don't even know. And you see this stuff almost every day. One day it's a tweet from Elon Musk and everybody loves Bitcoin. The next day is a negative tweet about Bitcoin from the same guy but a positive mention of Dogecoin so now everybody jumps in Dogecoin. And so people get themselves on this tweeting roller coaster of one-sentence blurbs from celebrity figures not realizing that the very people they are following are not even crypto experts. Last time I checked, Tesla sold a whopping 17 cars in bitcoin so what exactly makes Elon Musk or other celebrities like him a crypto authority in any way? Well, the answer is nothing.
So in summary, if the basis of your trading is staring at a chart and hitting the buy or sell button after reading one-sentence tweets, it's going to be a painful journey.
The problem with that guy and a zillion others is that they are basing their trading decisions on random tweets from either a celebrity or from someone they don't even know. And you see this stuff almost every day. One day it's a tweet from Elon Musk and everybody loves Bitcoin. The next day is a negative tweet about Bitcoin from the same guy but a positive mention of Dogecoin so now everybody jumps in Dogecoin. And so people get themselves on this tweeting roller coaster of one-sentence blurbs from celebrity figures not realizing that the very people they are following are not even crypto experts. Last time I checked, Tesla sold a whopping 17 cars in bitcoin so what exactly makes Elon Musk or other celebrities like him a crypto authority in any way? Well, the answer is nothing.
So in summary, if the basis of your trading is staring at a chart and hitting the buy or sell button after reading one-sentence tweets, it's going to be a painful journey.
I read this yesterday :
“Bitcoin is very well put together. It is a high-tech, sophisticated Ponzi scheme. So it can continue to increase in value for decades while it is intrinsically worthless. ”
The author is a very famous economist who teaches at several schools (university and business schools) and has his own fund. I don't say that he knows everything, but he clearly is not an idiot.
I agree with what he wrote. I posted on ET already a long time ago that it is a ponzi scheme, but well put together.
“Bitcoin is very well put together. It is a high-tech, sophisticated Ponzi scheme. So it can continue to increase in value for decades while it is intrinsically worthless. ”
The author is a very famous economist who teaches at several schools (university and business schools) and has his own fund. I don't say that he knows everything, but he clearly is not an idiot.
I agree with what he wrote. I posted on ET already a long time ago that it is a ponzi scheme, but well put together.
The guy lost confidence in crypto, maybe temporarily, and decided to cash out, what's stupid about that? To suggest that he acted because of some tweets is an assumption.
Tesla sold a "whopping" 17 cars? Surely, this is a joke, I'd be disappointed it was only 17 if I was a hardcore believer in BTC.
Enron comparison isn't accurate, as Enron represented one sector and most investors don't keep all of their eggs in one basket. Comparing the whole of economy of the US to crypto market is an interesting comparison.
This call was a beauty, I didn't see many other threads calling for the top and within days BTC dropped a whopping 45%, perhaps I'm also stupid, doesn't really matter
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Ok, so is it official now that Bitcoin is a speculative instrument and not a medium of exchange like the dollar.
Imagine selling a house for bitcoin when it was trading at 50K. So you get 10 bitcoins one day 500K but days later now you took a haircut and you are only holding 399K pricing you out of the house you were going to buy with the proceeds that just took a dive.
Any tweet etc.. could cause 20-30% price swings it seems.
Imagine selling a house for bitcoin when it was trading at 50K. So you get 10 bitcoins one day 500K but days later now you took a haircut and you are only holding 399K pricing you out of the house you were going to buy with the proceeds that just took a dive.
Any tweet etc.. could cause 20-30% price swings it seems.