Bulls crushed, halving a nothing

[ET180]

dont discount every new thing

What other new things have I discounted?

 

[MrMuppet]

Tax evasion and support of black market activities are the only truly unique properties of Bitcoin that other tradeable assets can't replicate. The only reason to buy it outside of wild speculation or to pay a ransom on ransomware would be if it's the only portable asset that can be bought to escape a rapidly inflating currency such as Venezuela -- a convert it or lose it situation. Other than that, it has no value. Very few people actually use it as a currency because it is far too volatile. Those that use it are hodlers trying to convince others that it actually has a practical use case. How come I don't see people on here running around trying to convince others to buy Microsoft or Apple stock? Because there are fundamental reasons to own those stocks. But the Bitcoin people constantly run around trying to convince others to buy in (admittedly the gold bugs do this too, but not nearly as vocal). The Bitcoin crowd are full time marketers trying to find more suckers to drive up demand and buy in so they can get out. I think it will eventually go towards its intrinsic value.

I'm having a hard time even considering to explain to another bonobo how the market works, what bitcoin is used for, how to valuate it and where to get reliable data from.

But in order to do so, I'd have to write a wall of text and substantiate my arguments with facts.

And honestly, the more I think about it, the more I come to the conclusion that it is clearly not worth it to outline everything to a stranger who is so blind that he doesn't even realize that right above his ignorant post is the biggest edge that has been given away for free on ET since the gaming of oanda in 2008.

 

[johnarb]

I'm having a hard time even considering to explain to another bonobo how the market works, what bitcoin is used for, how to valuate it and where to get reliable data from.

But in order to do so, I'd have to write a wall of text and substantiate my arguments with facts.

And honestly, the more I think about it, the more I come to the conclusion that it is clearly not worth it to outline everything to a stranger who is so blind that he doesn't even realize that right above his ignorant post is the biggest edge that has been given away for free on ET since the gaming of oanda in 2008.

I took your advice and didn't respond to such ignorance

Notice how arrogant he was as to imply his spare change and that of his friends from ET matter in the bitcoin/cryptos markets.

Thanks for that post, by the way, that was great, seeing the view from the real traders in this space.

I'm a long term investor only and haven't made trades in a while until a few days ago, fomoed into a coin, not a big size, little less than $15K, but for the first time, I used the USDT coin pair instead of usually trading to btc and then to the new coin and got an aha moment in the process. which is for tax purposes records keeping the $ amounts are automatic, instead of keeping track of btc $ value for each trade. Seeing your synthetics reference, I realize all the buzz and arb trading that have been mentioned wrt to DeFi, plus yea, there's interest yield on holding some of these coins.

 

[systematictrader]

What other new things have I discounted?

Bitcoin for now is what iam talking about

lets not be ignorant

i laughed at it when it came out because the whole world used to ask me about it the minute they hear i trade way back then


I still laugh about it but as one market wizards said

participating in bubbles is not bad

thus u can laugh at it but doesnt mean to completely not accept it as i have done

 

[ET180]

And honestly, the more I think about it, the more I come to the conclusion that it is clearly not worth it to outline everything to a stranger who is so blind that he doesn't even realize that right above his ignorant post is the biggest edge that has been given away for free on ET since the gaming of oanda in 2008.

Or I presented valid points that you cannot dispute. If what I said was really so outrageously wrong as you claim, then it should be easy to disprove by pointing out a simple contradiction or counter-example in one or two sentences. Good luck.

 

[ET180]

Bitcoin for now is what iam talking about

lets not be ignorant

i laughed at it when it came out because the whole world used to ask me about it the minute they hear i trade way back then


I still laugh about it but as one market wizards said

participating in bubbles is not bad

thus u can laugh at it but doesnt mean to completely not accept it as i have done

You claimed "dont discount every new thing"...I asked for examples of other things I have discounted and you cannot name one other thing. Therefore, stop making up blanket unsubstantiated claims in a pathetic attempt to discredit me.

 

[MrMuppet]

Or I presented valid points that you cannot dispute. If what I said was really so outrageously wrong as you claim, then it should be easy to disprove by pointing out a simple contradiction or counter-example in one or two sentences. Good luck.

Nah, dude, you just don't get it. I'm not here to be right.
Perhaps in a couple of years when you get your ego under control you will look at this thread, do a little homework and probably even make some money.

Until then your invitations to another pissing contest are nothing more than a nuisance.

 

[systematictrader]

You claimed "dont discount every new thing"...I asked for examples of other things I have discounted and you cannot name one other thing. Therefore, stop making up blanket unsubstantiated claims in a pathetic attempt to discredit me.

I told you bitcoin was the one u discounted

and calm down man were just chatting

 

[ET180]

I told you bitcoin was the one u discounted

and calm down man were just chatting

You stated: "don't discount every new thing".

When you tell someone not to do something, you imply that they are doing that which you are telling them not to do. I don't discount every new thing and I don't discount Bitcoin because it's new.

Perhaps in a couple of years when you get your ego under control you will look at this thread, do a little homework and probably even make some money. Until then your invitations to another pissing contest are nothing more than a nuisance.

I am making money. What's with the Bitcoin crowd accusing all the naysayers as only being against Bitcoin because they don't like new ideas and can't make money? They just throw out totally unsubstantiated blanket claims because they cannot offer any real fundamental reasons to convince others to buy their product other than it's gone up a lot in the past. They have to resort to baseless name calling and false characterization.

If you could refute what I said in a sentence or two, you would have done so rather than typing far more and not addressing a single of my points. Good luck.

 

[MrMuppet]

I am making money. What's with the Bitcoin crowd accusing all the naysayers as only being against Bitcoin because they don't like new ideas and can't make money? They just throw out totally unsubstantiated blanket claims because they cannot offer any real fundamental reasons to convince others to buy their product other than it's gone up a lot in the past. They have to resort to baseless name calling and false characterization.

If you could refute what I said in a sentence or two, you would have done so rather than typing far more and not addressing a single of my points. Good luck.

No you're not, stop lying to yourself. Nobody who needs to be convinced to look into opportunity has ever made any money in the market.
I wonder why you are under the impression that we have to adress your points or somehow win an argument against you. You have no idea how this market works and everything you know is from "sources". You have never taken the time to do the grunt work, do your due diligence on some exchanges, understand regulation and pricing.

So why do you come to the conclusion that a discussion with you is worth anything? You cannot even discuss on a sophisticated level, so it's like discussing stochastic calculus with a veterinarian.
I guess you're the one who needs the good luck