Blockchain is Dangerous Nonsense

Frederick Foresight said:
About government-backed currencies vs crypto?

Yes, can believe in different things. One of those things is false equivalency.
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You misunderstand me if you think I am making any equivalency between gubmint money and private citizens money initiatives. Bitcoin, specifically, touts the benefit of not being a gubmint initiative.

You believe that is a negative. That is your perogative. You prefer conformity. Some do not.

But you still can't get your head around the fact we are all not alike in our beliefs, wants, choices.
 
engineering said:
It's hilarious to watch people act as if a non-productive asset is going to change everything and those of us who invest in companies that actually do things are fools.

Even if Bitcoiners wildest dreams come true, it will reach a steady-state market saturation. At that point it can grow no faster than productive markets.




Shorting only makes sense if you know for sure WHEN it will crash.
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%%
THAT's your belief;
+ you are right also.:caution::caution: Good things for some, they learned early, pied piper + volume in that piper may not mean much.
Some people tend to get confused on law, lawful money + outlaws[True, all of those do have the word law in them\ outlaws not so much!!]
Good points.
No wonder The Sting, movie 1974 , made so much money;
they disclosed from the get go, it was a con movie:D:D
 
SunTrader said:
But you still can't get your head around the fact we are all not alike in our beliefs, wants, choices.
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You mean like people who believe in evolution vs those who believe in "creationism?" Flat Earth vs round Earth? In the short term, your crypto beliefs may serve you well. I just hope for your sake that you don't commit yourself completely to this belief like johnarb has reportedly done.
 
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Frederick Foresight said:
I just hope for your sake that you don't commit yourself completely to this belief like johnarb has reportedly done.
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Agreed. It would be horrible if we all were able to quit our job and find financial independence because of a belief we held.
 
This is all devolving into a shouting match. We all have dumb options, here are some facts….

this is for the doubters, this is what you’re up against. This is what you missed.

I took bitcoins price from 2013 to currently, so excluding the most early years when nearly nobody could access the asset class.

I then iterated through the data and grabbed every four year overlapping period (daily frequency). So for example 01/02/2013 to 01/02/2017 then 01/03/2013 to 01/03/2017, etc

this results in 1758 individual 4 year slices…

the WORST annual return (compound annual growth rate) in this time is 22.2%!!

let me just repeat. If you picked the absolute worst time to buy bitcoin (by the way this time period starts at the absolute bubble top of December 2017) and held it for four years you returned over 22% per year. That is the buying at the worst time!!

of course the best time is over 200% per year over four years.

guys this is what you are fading! This is what you are not participating in. I can see being doubtful this continues if it was like a year or two, but it’s been over a decade of doing this.

Wake the fuck up!
 
The biggest crooks are in the government. Do you think they will leave Bitcoin alone? Right now, there is already a lot of fraud and hacking. Those caught by the government have to cough up their Bitcoin. A Bitcoin thief who filed a complaint about a friend stealing some of his Bitcoin, ended up being investigated. Now the Federal government has all his Bitcoin and he has a long jail sentence on top of it. Don't ask me his name. He is probably, Korean or Chinese. There should be an article on it somewhere as this guy was reputed to have stolen billions of dollars worth of Bitcoin. The stockmarket before it was regulated was full of fraud. That is the reason they regulated it. Bitcoin is going to be regulated as well and Uncle Sam is going to be watching you closely. And when the government gets involved, they screw it up. Just look at Amtrak and the US Postal Service as examples.
 
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