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Bitcoin worth $1m
- Thread starter Ed48
- Start date
Geez a lot of sour grapes in this thread. No doubt BTC can (and will) lose 50-80% in the future (it just lost 50%). But its also true that objectively BTC has been the best performing asset maybe ever over the last decade. Both can be true
Being bearish BTC means saying the 200%/year over the last 12 years is just going to stop right now in its tracks ... why would that happen?
Being bearish BTC means saying the 200%/year over the last 12 years is just going to stop right now in its tracks ... why would that happen?
Geez a lot of sour grapes in this thread. No doubt BTC can (and will) lose 50-80% in the future (it just lost 50%). But its also true that objectively BTC has been the best performing asset maybe ever over the last decade. Both can be true
You can only judge that after you put all the money (as FIAT money) in the bank. As long as you don't sell your coins you have no idea where you will end. There are hodlers who were millionaire, but not anymore at/before the next crash.
Don't sell the skin till you have caught the bear.
Being bearish BTC means saying the 200%/year over the last 12 years is just going to stop right now in its tracks ... why would that happen?
99.9% of the BTC holders have never made that trip, nor the return.
You say you are objective, I am objective too.
You can only judge that after you put all the money (as FIAT money) in the bank. As long as you don't sell your coins you have no idea where you will end. There are hodlers who were millionaire, but not anymore at/before the next crash.
Eh disagree. This is effectively saying the money in any trading account isnt "real" bc there are open profits. Your worth is what the market says now.
99.9% of the BTC holders have never made that trip, nor the return.
True, fair enough. Doesn't change the fact that those are the statistics. Doesn't take a genius trader to extract profits on the upside with a tailwind like that.
Remove tethers and value would plummet like a rock
Way overblown. Tether just one of several stable coins (the biggest), which are just onramps from fiat to crypto.
Way more transparency is needed, but thinking some commercial paper at tether going bad means BTC is doomed makes no sense.
Eh disagree. This is effectively saying the money in any trading account isnt "real" bc there are open profits. Your worth is what the market says now.
Yes, but the problem with BTC is that in 24 hours the value can be half gone. If BTC would be stable you could take open profits too, but the volatility is far to high.
I suggest you go to the bank and ask a loan with your BTC as collateral. At what price will the bank accept your BTC? 25-30% of the actual value included open profits?
If you would give your house or stocks as collateral the bank will give you a much bigger loan.
Why do you think the bank is so prudent with BTC? Right, the huge risk.
True, fair enough. Doesn't change the fact that those are the statistics. Doesn't take a genius trader to extract profits on the upside with a tailwind like that.
It is more difficult then you think, if not you would be filthy rich as you would sell every top and buy every bottom. What if you take profit and BTC continues to go up fast? FOMO has a big impact on decisions to get in or out, and mostly leads to wrong timing.
The 200% per year for 12 years is based on buying and keep it 12 years. So even go thru every crash. How will you know when BTC will really go down? We had several crashes till over 80%. If BTC will ever crash and go to zero, how will you know that? It will look just like the other crashes except for the fact that it will be gamme over. Because that is essential to be sure that you took the profits at the right time.
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It is more difficult then you think, if not you would be filthy rich as you would sell every top and buy every bottom. What if you take profit and BTC continues to go up fast? FOMO has a big impact on decisions to get in or out, and mostly leads to wrong timing.
The 200% per year for 12 years is based on buying and keep it 12 years. So even go thru every crash. How will you know when BTC will really go down? We had several crashes till over 80%. If BTC will ever crash and go to zero, how will you know that? It will look just like the other crashes except for the fact that it will be gamme over. Because that is essential to be sure that you took the profits at the right time.
This is crazy. You don't need to know every high and low to make money (duh). BTC is extremely close to impossible to predict just like every other asset ever. My point is 200%/yr annualized is a hell of a tailwind if used correctly.
A tailwind like that makes the bar LOWER to being able to spot tops/bottom vs an asset than stays rangebound for years.
Yes most people prob suck at trading bitcoin and lose money. Also true with every asset.
We are supposed to be "elite traders" right lol. An exponential uptrend like BTC has had helps a lot with the right strategy, trust me I have made very good money.
So we can trade it and make a lot of money to just be a naysay and see "I told you so" every 50% crash. I know what I am chosing