Not if they haven't closed the short yet. By the way I didn't say you can't trade a a mania, I said you can't expect it to last forever or that it has fundamental reality to it.
Selling Bitcoin?
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Not if they haven't closed the short yet. By the way I didn't say you can't trade a a mania, I said you can't expect it to last forever or that it has fundamental reality to it.
Do you think it's poor people who are buying Bitcoin? It's more like the top 10% are unhappy that the top 1% have it all. But the bottom 90% are still left out.
It's a way for the poor people to opt out and move into the new system. Obviously it isn't perfect. But the top 1% like Warren Buffett call it rat poison. So there is at least the opportunity. The millenials are also far more likely to adopt a small amount of capital to it vs baby boomers.
Money at the end of the day is a social consensus mechanism as quoted by Gary Gensler.
We are in the 1st-2nd inning of that consensus forming throughout the ENTIRE WORLD.
But my point is that they aren't. Poor people are too busy trying to make ends meet. They cannot put even $500 into BTC, which would be 1% of 1 coin. If you have many coins already owned by corporations or some lucky early investors, then you already have the issue that we have today, that most of the wealth is concentrated by just a fraction of the people on earth. Even if BTC goes to $500,000, it doesn't make poor people any better off, it just makes the already rich that much better off.
My point is, SOMEONE sold it at the high. People were selling all the way up and all the way back down. The $ they made are real to them.
Same goes for any other move. Sure there are losers, but there are also winners.
lol, who uses electric heat in effin' Texas?
Cool, love to know what these dinosaur companies are.
