It is funny seeing people not taking large profits when they could. The greed aspect of trading.
Reminds me of me during the dot com bubble days.
Bitcoin Price Thread
- Thread starter Magna
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It is funny seeing people not taking large profits when they could. The greed aspect of trading.
Reminds me of me during the dot com bubble days.
Many of these people may have bought in the $7000 range. I still fail to see any humor in another's misfortune.
I don't see it as misfortune, its more learning experience/gaining wisdom.
But anyone stupid enough to bet the ranch and go broke and then say commit suicide, well that is different level and not funny.
is wealth transfer a tragedy or comedy?
It has indeed nothing to do with misfortune. It is, or it should be at least, a calculated bet. If you win you laugh with the others, if you lose the others laugh with you. That's what trading is.
I talked to a farmer. I wanted to know what his policy/strategy was with the access coins? He said his cost was 4K/coin and he only sold coins to cover the cost, the rest was hoarded. To me that was a bad policy, because if BTC ever goes down to 4K, he basically made nothing. Not to mention the huge paper losses from the 20K high.
Maybe other farmers do it differently...They could sell futures to lock in favorable prices, the intended use of futures.
Maybe other farmers do it differently...They could sell futures to lock in favorable prices, the intended use of futures.
If the farmer has long term expectations for BTC then he has a "Free Play". Nothing wrong with that as he does not want to try and pick highs and lows to maximize his holdings.
His long term expectation is to catch the highest high in future. He is maximizing on something that maybe never will happen. He is playing an all-in game. Can be a big hit, but it can be a hit up or a hit down. Maybe a better option is to try and pick highs and lows. Futur will tell.
I am sure that is how he feels since 20K...
I also have free play with the lottery.