Bitcoin has topped.

[DiceAreCast]

Agreed, trading or investing should be done by own research and conviction. But the larger points, made in the video, are completely valid. I think the likelihood of the entire crypto space being a giant ponzi scheme lies definitely above 10-20% and I am being very conservative here. The reasons for such estimate are manifold, among others the issues with tether. Or that it's not backed by anything. Claiming that fiat is neither backed is not true, not saying you made such claim but I imagine you might.

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.

 

[DiceAreCast]

It has been official from the first day, no means of exchange, no store of value. How anybody can still claim the contrary is beyond my logic.

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.

 

[Baron]

To suggest that he acted because of some tweets is an assumption.

You're not watching your own videos. The guy shows the tweets he being influenced by at 1:27 in the video. It's not an assumption on my part. It's a fact.

 

[Master Pu]

You're not watching your own videos. The guy shows the tweets he being influenced by at 1:27 in the video. It's not an assumption on my part. It's a fact.

Yes, it's a fact that he referred to tweets, it's an assumption he cashed out solely based on these tweets. He isn't just a blogger, he's 100% nerd.

 

[DiceAreCast]

And the questions raised in the tweets are very relevant, fair, and well thought out. So well that the entire tether ship remains standing on 3 legs. And that's the underbelly of btc. Who issued those commercial papers? Which entities? Lots of questions, no answers.

You're not watching your own videos. The guy shows the tweets he being influenced by at 1:27 in the video. It's not an assumption on my part. It's a fact.

 

[tiddlywinks]

THE PIZZA TRANSACTION STILL STANDS AS A VERY VERY BAD TRADE!!!

 

[Sprout]

It has been official from the first day, no means of exchange, no store of value. How anybody can still claim the contrary is beyond my logic.

The person taking the other side of your trades also thinks logically, otherwise then is no benefit to take the trade.

Whoops, forgot, you have no skin in the game.

 

[Master Pu]

Look, I do give credit to people that kept their ear low to the ground and managed to anticipate the mania, the new trendy thing called BTC and profited from that, some have made fortunes, it's an incredible result. This thread isn't trying to mock the ones that profited from the bitcoin mania, I saw the top forming and called it. The outcome confirms that there is still life left in the good old TA. Anticipation of price movement is a skill similar to the skill of a good fighter, you must have skills and be able to anticipate opponent's moves, both equally as important. I didn't invest because I didn't believe in it, still don't, so what? Are the ones that didn't invest in crypto all stupid?

 

[Sprout]

Look, I do give credit to people that kept their ear low to the ground and managed to anticipate the mania, the new trendy thing called BTC and profited from that, some have made fortunes, it's an incredible result. This thread isn't trying to mock the ones that profited from the bitcoin mania, I saw the top forming and called it. The outcome confirms that there is still life left in the good old TA. Anticipation of price movement is a skill similar to the skill of a good fighter, you must have skills and be able to anticipate opponent's moves, both equally as important.

Yeah, it was a good call. Good TA is descriptive with confirmations and invalidations.

Are you gonna call the bottom as well?

 

[Baron]

And the questions raised in the tweets are very relevant, fair, and well thought out. So well that the entire tether ship remains standing on 3 legs. And that's the underbelly of btc. Who issued those commercial papers? Which entities? Lots of questions, no answers.

$1.7 Trillion in total crypto market cap and you're worried about a single crypto coin with $58 Billion in market cap causing the whole system to collapse? Good luck with that theory. Oh, and by the way, the BTC network was operational for 6 years with millions of crypto wallets in place before the first tether coin was even introduced.