Is the crypto winter over?

[Frederick Foresight]

It's incredibly ironic that someone with 22 thousands posts on ET would value the opinion of Malkiel, whose reputation is inextricably tied to the idea that it is impossible to beat the market in the long run after controlling for risk.

Again, he refers to the majority of investors. Among other notable positions, he was a director at Vanguard for 28 years, which runs index funds. Index funds which the vast majority of managed funds regularly underperform thereby proving his premise. As for irony, the irony is that everyone thinks they are not in that underperforming majority.

 

[schizo]

Again, he refers to the majority of investors. Among other notable positions, he was a director at Vanguard for 28 years, which runs index funds. Index funds which the vast majority of managed funds regularly underperform thereby proving his premise. As for irony, the irony is that everyone thinks they are not in that underperforming majority.

So you believe he should be the final arbiter of Bitcoin?

 

[Frederick Foresight]

So you believe he should be the final arbiter of Bitcoin?

No. He’s just one more voice of reason added to the others. But you be you. I’m not especially concerned about you since you go in and out as the market turns. You have not donned the robes of high priesthood. You just share “likes” with them.

 

[schizo]

No. He’s just one more voice of reason added to the others. But you be you. I’m not especially concerned about you since you go in and out as the market turns. You have not donned the robes of high priesthood. You just share “likes” with them.

While that might be true, I don't see why you need to be such a vigilente. We've always had bubbles and euphorias. Markets, be they Nasdaq or Bitcoin, have never cared about voice of reason but have always thrived on speculation. So why bother? The financial tide will ebb and flow whether you like it or not. Even after Bitcoin, there will be other speculations as well. It will never stop. That's just part of human nature.

Edit: That's not to diminish others' belief in the validity of Bitcoin. I think there's a real problem in our economy, especially with the Fiat.

 

[Frederick Foresight]

While that might be true, I don't see why you need to be such a vigilente. We've always had bubbles and euphorias. Markets, be they Nasdaq or Bitcoin, have never cared about voice of reason but have always thrived on speculation. So why bother? The financial tide will ebb and flow whether you like it or not. Even after Bitcoin, there will be other speculations as well. It will never stop. That's just part of human nature.

Edit: That's not to diminish others' belief in the validity of Bitcoin. I think there's a real problem in our economy, especially with the Fiat.

I agree with everything but your edit. You might not like the dollar, but opting for something worse is hardly the answer. This bubble is unlike most bubbles in that it is nothing but a fart bubble of elephantine proportions.

 

[jbusse]

As for irony, the irony is that everyone thinks they are not in that underperforming majority.

The huge growth in passive investing over the last decade would suggest otherwise.

 

[Frederick Foresight]

The huge growth in passive investing over the last decade would suggest otherwise.

I was referring to the author and your comment about irony. I have no idea what is the point of this post of yours.

 

[jbusse]

Name one ET poster other than NoahA that got converted to investing in bitcoin for the long term?

You've influenced more of us than you realize. And for that, I am truly grateful.

 

[schizo]

I agree with everything but your edit. You might not like the dollar, but opting for something worse is hardly the answer. This bubble is unlike most bubbles in that it is nothing but a fart bubble of elephantine proportions.

But look! Some people could have made a lot of money if they only looked into the future like when I made the following post (and, what do you know, BTC was only trading at 17196!!) . Bubble or no bubble, this is why market exists in the first place.

But this is always the problem with newbs. They always sell at the worst possible time. Why would you wanna pull your money out now when BTC is just turning the corner? At least, wait until it recovers a bit.

(This is just an observation from a chartist point of view. I personally don't have any stake in BTC or any other crypto.)

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[Frederick Foresight]

Whatever. You guys do what you gotta do, and good luck to you all. And I, as your favourite saying goes, will have fun staying poor.