#DropGold / Why Bitcoin's Revival Is Different This Time Around

gkishot said:
With the logic like yours you should never invest in anything expecting its eventual collapse. Good luck with making any money.
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Thanks, but I do fine without the luck. Sure, everything will most likely end when the universe collapses, but actually my investment time horizon is usually substantially shorter.
 
ET180 said:
Why would anyone care when I started posting on this forum or how many posts I have made under the crypto section? I post very infrequently on this subforum and only because I saw some topic that caught my interest on the homepage. Here's your quote from above where you then tried to make the ridiculous accusation that I was urging a boycott if a company made a transaction in bitcoin (ignoring the whole paying a ransom part).





If you asked someone during the tulip bulb mania when the prices of tulip bulbs would mean revert, what time frame would they give and why would it matter? I can't predict when the euphoria will end and I don't need to when there are much more higher-probability ways to make money. I'm not into gambling.

As far as the $4,000 price, well, Bitcoin also traded a lot lower than that during the same time frame. So by your logic that someone buying it back in 2017 was a genius only because it's higher today, then also for some period of time Nov 2018 until March 2018, they were also a fool since it was lower than $4k. How can someone be both a genius and a fool? How many penny stocks are trading for a higher price today than they were in 2017? Why didn't you buy all of those as well?

I think the thing that fascinates me the most about this entire discussion is the utter desperation that *some* (not all) of the bitcoin proponents display. If you bring up any reference to the dot-com bubble or any other periods of mania, they become hysterical and start throwing out personal insults. For some reason they are so desperate to convince others to buy into their asset that it becomes obvious that they don't really have much confidence in their investment either. They realize that they only make money if they can recruit enough fools in to drive up the price. Contrast that to a great business. Someone who believes that they are holding a great business won't care about the opinions of others because they know that they have the fundamentals on their side. If someone says to me, "Why are you invested in KMB? They make diapers and paper. Both dying businesses." I don't care. I'm not going to try to change that person's mind. I trust the fundamentals and my own analysis. I certainly would not start throwing out insults or calling the other person an idiot. It wouldn't offend me. If you really believed in Bitcoin, you would not let someone else's opinion drive you hysterical. You would not be throwing insults. You would simply think to yourself, "Fine. Don't buy it. I hope you don't get rich." And actually, if you really believed in it, you would want the price to stay low so you can buy even more of it. Last thing you would want is for it to take off before all your friends and family have bought in. When funds are in the process of accumulating a stock, the last thing they want is for the price to jump before they can get in. Obviously not the case with *some* of the bitcoin people.
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Do you really think that I'm trying to recruit the naysayers? Do you believe there is even a 1% chance I can convert an ET who's against bitcoin/cryptos into buying into the cryptos space?

No and no, I don't care if you or the others buy or don't buy. I'm invested in cryptos and very happy I did.

What I do mind is if someone posts calling a person who invests in bitcoin/cryptos as idiot or stupid, or moron, and that is a fair reaction on my part.

I also don't appreciate that my investment choice is always being compared to the tulip mania or dotcom bubble. Bitcoin is not a plant, or a company, it's a decentralized, trustless, peer-to-peer cryptocurrency and to understand it better, there many resources out there that explain it in great detail. Don't belittle it by comparing to tulips or pets.com.

How long did the dotcom bubble last?
https://en.wikipedia.org/wiki/Dot-com_bubble
"The Nasdaq Compositestock market index, which included many Internet-based companies, peaked in value on March 10, 2000, before crashing. The burst of the bubble, known as the dot-com crash, lasted from March 11, 2000, to October 9, 2002.[3][4]?

How long did the tulip mania last?
https://en.wikipedia.org/wiki/Tulip_mania
Tulip mania reached its peak during the winter of 1636–37, when some bulbs were reportedly changing hands ten times in a day. No deliveries were ever made to fulfil any of these contracts, because in February 1637, tulip bulb contract prices collapsed abruptly and the trade of tulips ground to a halt.[36]
 
johnarb said:
...Don't belittle it by comparing to tulips or pets.com...
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It is a shame they failed. I thought the sock puppet was funny. But...Bad business model I guess. (And IIRC, that model became, "we need to sell all our stuff at a loss to keep up. We can survive this! Yikes!)

 
johnarb said:
Do you really think that I'm trying to recruit the naysayers? Do you believe there is even a 1% chance I can convert an ET who's against bitcoin/cryptos into buying into the cryptos space?

No and no, I don't care if you or the others buy or don't buy. I'm invested in cryptos and very happy I did.

What I do mind is if someone posts calling a person who invests in bitcoin/cryptos as idiot or stupid, or moron, and that is a fair reaction on my part.
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I'd argue that if you are very confident in your decision then it should show. Why waste the energy, time, and emotion getting worked up over a naysayer?

I also don't appreciate that my investment choice is always being compared to the tulip mania or dotcom bubble. Bitcoin is not a plant, or a company, it's a decentralized, trustless, peer-to-peer cryptocurrency and to understand it better, there many resources out there that explain it in great detail. Don't belittle it by comparing to tulips or pets.com.

How long did the dotcom bubble last?
https://en.wikipedia.org/wiki/Dot-com_bubble
"The Nasdaq Compositestock market index, which included many Internet-based companies, peaked in value on March 10, 2000, before crashing. The burst of the bubble, known as the dot-com crash, lasted from March 11, 2000, to October 9, 2002.[3][4]?

How long did the tulip mania last?
https://en.wikipedia.org/wiki/Tulip_mania
Tulip mania reached its peak during the winter of 1636–37, when some bulbs were reportedly changing hands ten times in a day. No deliveries were ever made to fulfil any of these contracts, because in February 1637, tulip bulb contract prices collapsed abruptly and the trade of tulips ground to a halt.[36]
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Tulips were in existance a lot longer than 1636 to 1637. So the mania part lasted about 2 years. A lot of people did not know what bitcoin was until CNBC added the bitcoin ticker and started talking about it every 15 mins? The same logic that you present above would also prevent people in 1999 from comparing the Tulip bulb mania to the dot-com mania. Since after-all, companies are not plants.

Honestly, the libertarian part of me would like to see some store of value develop outside of government reach. So I'm not really against the concept. I just don't think it will work...time will tell.
 
GRULSTMRNN said:
Where were you a few months ago? Lmao
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Johnny Arb has been on here for at least a couple years. He's very knowledgeable about this stuff and is very realistic as to what is going on at any particular point in time. He's not a pumper, rather he's a great asset to have if one has a legitimate question and wants an honest straightforward answer. That's my take anyway.
 
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