A much better peer reviewed paper on the fundamentals for readers of this thead
https://www.fooledbyrandomness.com/BTC-QF.pdf
https://www.fooledbyrandomness.com/BTC-QF.pdf
Bitcoin Plummeting 11% to $37,980
- Thread starter RedSun
- Start date
January 20 , Another BTC ETF denied due to scammers like some posters in this thread trying to proselytize people and taking advantage of potential newcomers into this space. Call them out. Currently there are no rules for the crypto space otherwise they would be in jail trying to give unauthorized financial advice.
"BTC is a savings account" -> Says no one with with half a brain where savings account gets slashed by 50% in a month for no fault of theirs. While if they hold on to their assets in theory they depreciate by inflation (which sucks) but nothing like this criminal ongoing ponzi scammers who took over BTC. Typically you will never see them talk about the scamming angle. Their hideout is always 1 BTC = 1 BTC (proven false narrative) or Have Fun Staying Poor or other garbage like this. They don't have a meaningful role whatsover and hope about moon days ahead at the expense of those who come in later at fraud levels.
Ever hear of a savings account where once you give your account#, your entire financial history is linked to you forever and Chainanalysis and other companies benefitting from it? Ever hear of someone saying my AAPL Jan 21 PUT is going down because no new money is coming in? There is a very well known financial instrument where no new money coming in cripples it, someone who had an idea about arbitrage opportunity with international stamps long time ago.
"BTC is a savings account" -> Says no one with with half a brain where savings account gets slashed by 50% in a month for no fault of theirs. While if they hold on to their assets in theory they depreciate by inflation (which sucks) but nothing like this criminal ongoing ponzi scammers who took over BTC. Typically you will never see them talk about the scamming angle. Their hideout is always 1 BTC = 1 BTC (proven false narrative) or Have Fun Staying Poor or other garbage like this. They don't have a meaningful role whatsover and hope about moon days ahead at the expense of those who come in later at fraud levels.
Ever hear of a savings account where once you give your account#, your entire financial history is linked to you forever and Chainanalysis and other companies benefitting from it? Ever hear of someone saying my AAPL Jan 21 PUT is going down because no new money is coming in? There is a very well known financial instrument where no new money coming in cripples it, someone who had an idea about arbitrage opportunity with international stamps long time ago.
Now you really have me confused. It's not a bear market yet so you are not selling. When a bear market arrives you will sell and buy back lower. Wait you did sell a little so are you thinking we might get a bear market in the next little while.
I'm trying to nail down how to determine when we are in a bear as opposed to a bull. Does time have anything to do with it.
I'm a trader. I'll watch what the price does. If price begins to trend higher (higher highs and higher lows) especially on a weekly time frame, I would start a position, with a tight stop. If price continues to trend I'll add to the position. Once price starts to move in my direction I'll trail a stop so that I won't take a loss.
I don't express myself so well sometimes, that's why I type TL;DR
Bear market is my opinion and determination and decision based on fundamentals I analyze and take into account
I have not decided it's a bear market, but slowly, think of a gauge, a month ago, my gauge was strongly on the "its a bull market still" and then now the gauge is shifted more to the "Its a bear market"
Sometimes on my post, I put a disclaimer
When I make my moves, I do it on my own as the consequences affect me
If I post to share on my macro thread, I'll mention it's my opinion only
Don't try to nail down any of my moves. I do not have to answer to you as I only risk my own funds
Same with my crypto sale. I do not have to explain to you why I did what I did. If I posted a reason, then that was what I wanted to share and not more than that
I understand. It's tough to explain why you do stuff when it doesn't make any sense.
Good luck.
Thanks for the good wish
I know English is my 2nd language but my post was quite clear on why I sold, because the stock market was down hard, and a repeat of the previous day's events, margin calls to investors, would cause a further weakness to the cryptos and so on
I was correct, btc went lower than where I sold the 1.5 btc, case closed
but now are you expecting for me to expand on why I sold a little and not the whole portfolio or my bear market prediction or decision? sorry to disappoint you, but the answer is no I will not explain to you
One of the benefits of quitting my job last year was not having a boss
It's not a great mystery that you're trying to make it out to be see picture below
Here is some Anti Crypto reading.
Cryptocurrency Is a Giant Ponzi Scheme (jacobinmag.com)
Gotta be true it's on the internet.
Cryptocurrency Is a Giant Ponzi Scheme (jacobinmag.com)
Gotta be true it's on the internet.
That is a true statement, 1 BTC = 1 BTC is only during price crashes and not on the way up
Now, of course since you joined bitcointalk in 2013, you do understand the reasoning behind it, right?
Or you never really understood it and it's the reason you missed out or sold your bitcoin too early?
For the uninitiated, the 1 BTC = 1 BTC is to give you strength to HODL during price crashes and to give you the strength and encouragement to stack sats which simply means to keep accumulating bitcoin, DCA
When the price is going up, there's actually a concern that people would buy and get shaken out, so no need to encourage people to get a loan and buy bitcoins when it's going up and get hurt financially
If anyone bought at the top of Jan 2014 price of $1,200 per btc and watched the price dwindle to $175 in 1 year, Jan 2015 and bottom price of $150/ btc by mid 2016
Had you kept to the idea of 1 BTC = 1 BTC and put $100 per week into btc, you'd have been a millionaire by December 2017
and worth many millions of $ by today
So, because you knew about it in 2013 and did not understand it, now you know why you're miserable
Not sure what gave the idea. I have never spoken about my financial standing here and didn't attack you either. I am questioning ideas and challenging the information being presented with facts and links and documentation for others to read and evaluate for themselves what is going in the crypto world. So attacking what I wrote in my 4 posts about the subject in this thread is welcome, ad hominems are not. And I noticed you couldn't attack a single point in all of them, because there is nothing to attack. Those are facts backed by citations and sources, not my opinion.
And personally I don't think you started in 2013 like you claim. From the sentences you have been using, which is trickling from other junk media where such nonsense is peddled, especially Crypto Twitter, you are presenting yourself as a mindless LARPing sheep that follows what is told from top of the pyramid. No one who from back then brags about having "10 BTC". Some of us have lost that much on a single day many times.
I understand BTC very well, didn't take me long to start mining after reading the white paper and joining tons of similar minded people in the BTCTalk. Spare me all of those sheeple comebacks and stop embarrassing yourself.
Go back and re-read my posts and challenge what is presented.