New market wizard
- Thread starter pinetboltz
- Start date
Lots of "virtual" millionnaires with Bitcoin.
Same story with Subprimes, Madoff, Tulip bulbs, etc.
Bitcoin = Ponzi scheme
CM
Except for lost coins' value, so practically probably 20% less.
https://seekingalpha.com/article/4082979-many-bitcoins-lost-forever
its just randomness in the 87 crash some people made 16,000% that one year. that's great for them but its a one time thing
Buffett is the opposite of this bitcoinguy
given today's surge past $7000/btc, and how the article only gave his winnings up till july, he's prob up another $10m by now, all from $8.5k at start of the year
if there's a fountain of gold, this must be it
if there's a fountain of gold, this must be it
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Reminded me of the dot com bubble era. Those of you old enough to trade during that bubble will remember how easy it was to make money. Until 2000, then if you did not get out by then, you would be wiped out by 2002-3.
Fast forward to 2009-10. Starting in March 2009, if you stayed long in this market with leverage, it is like printing money again.
I have no profound knowledge of options, the only strategy I use is just basically betting that the market will keep going up. It is a scary thought that a mom and pop retail trader like me can do so well with such an insane method. If I am smart, I should retired again, this time from trading options.
Cryptocurrencies trading is very similar, I am just not sure what stage it is at now since I don't play there.
Regards,