Why This Computer Scientist Says All Cryptocurrency Should “Die in a Fire”

johnarb said:
You repeatedly say "if I buy Bitcoin, I have to find a greater fool to sell it to"

When confronted by Oracle that is not how buying and selling bitcoin works and if you understand order book, you admitted that you do. You were exposed as a liar that you are
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Where do you think I would go to find greater fools? I'm not going out on the street and asking completet strangers!! You find them lined up at the exchanges. Ask them why they are buying BTC and they'll tell you cause it has to go up. Read the book.LOL

As per usual, when you have no answer, you attack the messenger. Calling me names in bolded, oversized text just shows your immaturity. Prolly nothin again!!
 
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deaddog said:
Where do you think I would go to find greater fools? I'm not going out on the street and asking completet strangers!! You find them lined up at the exchanges.
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You're such a lying piece of shit, deaddog

You're repeating the same lie again and trying to weasel your way out by playing with words. Do you describe all the things you trade in the same way?

deaddog said:
As per usual, when you have no answer, you attack the messenger. Calling me names in bolded, oversized text just shows your immaturity. Prolly nothin again!!
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You ASSumed I ran out of cash and had to sell 3 BTC's when I did not post anything about it

...and now I've shown prrof you are a jack-ASS, deaddog
 
johnarb said:
You're such a lying piece of shit, deaddog

You're repeating the same lie again and trying to weasel your way out by playing with words. Do you describe all the things you trade in the same way?



You ASSumed I ran out of cash and had to sell 3 BTC's when I did not post anything about it

...and now I've shown prrof you are a jack-ASS, deaddog
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well John where are you going to go to find a buyer when you decide to sell?
Probably an exchange but maybe not maybe you'll just spend them.

You had 20 coin now 18. Pretty good for a holder. Had to sell to support family, what happened to all your cash? Living a pretty expensive lifestyle while waiting for BTC to get to 500K.

I've still got most of my cash. How's your networth doing? Gotta admit that trading seems to outperform buy and hold. Nah you won't admit it, you'll just call me names!!!!
 
deaddog said:
well John where are you going to go to find a buyer when you decide to sell?
Probably an exchange but maybe not maybe you'll just spend them.

You had 20 coin now 18. Pretty good for a holder. Had to sell to support family, what happened to all your cash? Living a pretty expensive lifestyle while waiting for BTC to get to 500K.

I've still got most of my cash. How's your networth doing? Gotta admit that trading seems to outperform buy and hold. Nah you won't admit it, you'll just call me names!!!!
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You did not answer my question. Do you describe everything you trade on markets with order book in the same way "greater fool" as btc?

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I still have my cash. You can look up all my posts and point to me where I've lost the "cash"

Btw, I'm pretty sure I said over $500K or $500K+ (before taxes). It's an open number on the upside but not the downside

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I mentioned that during the bear market, plan was to deleverage to 10 BTC's. I've obviously changed it to a higher number (15 BTC's), but it's ok with me. You and I have a convo on that number 15 BTC's

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Networth is down. Just about anyone invested in assets have a lower networth nowadays, you know, bear market in stocks and bonds and cryptos (and real estate)

Or are you going to lie you don't understand that concept also?
 
johnarb said:
You did not answer my question. Do you describe everything you trade on markets with order book in the same way "greater fool" as btc?

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Pretty well. I'm a momo speculator. I buy stuff that's going up and sell it when it changes trend.
I'm in the game to make money. Can't make money holding onto an asset that is trending down.

It does help with some stocks that you have fundamentals that convince others to buy from you. The only reason to buy BTC is that it might go up, no different than a momo stock. it's a currency and it's a store of value hasn't worked out that well as you are well aware.
 
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deaddog said:
Pretty well. I'm a momo speculator. I buy stuff that's going up and sell it when it changes trend.
I'm in the game to make money. Can't make money holding onto an asset that is trending down.

It does help with some stocks that you have fundamentals that convince others to buy from you. The only reason to buy BTC is that it might go up, no different than a momo stock. it's a currency and it's a store of value hasn't worked out that well as you are well aware.
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Wait, was that a yes that you describe your other trades, let's say you bought AMZN shares that you will be looking for a greater fool when you sell it?

Care to show your post indicating that?

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You're correct now with BTC being down for the past year, but if you expand that over a long period of time...

From March 2020 Covid crash lows, compare BTC performance against SPY, or any of the FAANG stocks
 
johnarb said:
Wait, was that a yes that you describe your other trades, let's say you bought AMZN shares that you will be looking for a greater fool when you sell it?

Care to show your post indicating that?

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You're correct now with BTC being down for the past year, but if you expand that over a long period of time...

From March 2020 Covid crash lows, compare BTC performance against SPY, or any of the FAANG stocks
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I've tried to explain it to you before.
If you owned all the bitcoin and all the shares of AMZN how are you going to make any money.
BTC has no income. AMZN is a business with revenue.
I know, I know you won't ever own all of either. I'm just trying to point out the BTC doesn't produce anything.

I think I've mentioned several times before that I'm a speculator. I buy with the intension of making money by selling higher. Yes I have to find someone who will pay me more than I paid for any asset I speculate in. It's easier to sell AMZM than BTC. AMZN is only 46% down from the high and up 30% from the lows, don't you wish BTC was the same.

I wasn't in anything at the 2020 low. Cash!! I was also mainly in cash for the 2022 bear market. Still sitting on a heavy cash position.
 
deaddog said:
I've tried to explain it to you before.
If you owned all the bitcoin and all the shares of AMZN how are you going to make any money.
BTC has no income. AMZN is a business with revenue.
I know, I know you won't ever own all of either. I'm just trying to point out the BTC doesn't produce anything.

I think I've mentioned several times before that I'm a speculator. I buy with the intension of making money by selling higher. Yes I have to find someone who will pay me more than I paid for any asset I speculate in. It's easier to sell AMZM than BTC. AMZN is only 46% down from the high and up 30% from the lows, don't you wish BTC was the same.

I wasn't in anything at the 2020 low. Cash!! I was also mainly in cash for the 2022 bear market. Still sitting on a heavy cash position.
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I saw your thread on trying to find a bitcoin exchange in Canada, so maybe I don't understand the btc market situation there

But selling btc for cash is much easier here in the US than selling AMZN shares. Trading AMZN is limited to market hours on weekdays and closed on weekends and holidays

I can sell btc's any time any day and with Coinbase integration with PayPal, get physical cash from ATM in a few seconds, any time any day

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Yea, AMZN is not down as much as BTC. It has to do with risk vs reward. Upside potential and downside potential

Do I believe AMZN will go up 2000% within 5 years? No. Do I believe BTC will go up 2000% within 5 years? Yes

I'm willing to accept a bigger loss with BTC on a m2m basis than AMZN for the upside potential that is much higher

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Inflation rate is officially 8% in Canada. Real inflation rate is higher than that whether you agree or not. You're accepting a guaranteed loss on your cash measured against goods and services

Add to that CAD is down 5-6% against USD and you're losing more value against US goods and services and since USD is the reserve currency of the world, I'm pretty sure it translates to other goods that originate from other countries

I'm sure that kind of headwind doesn't bother you since you can easily make more than 20% yearly profits, am I right?

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Something something, how to boil a frog alive....
 
johnarb said:
I saw your thread on trying to find a bitcoin exchange in Canada, so maybe I don't understand the btc market situation there

But selling btc for cash is much easier here in the US than selling AMZN shares. Trading AMZN is limited to market hours on weekdays and closed on weekends and holidays

I can sell btc's any time any day and with Coinbase integration with PayPal, get physical cash from ATM in a few seconds, any time any day
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I'm with Newton and likewise I have acess 24/7. Although I can trade commission free there is still the spread which is in the 0.75% area. Also the trades are in $Cad so I eat the spread there also. I can move my BTC to a cold wallet so if I ever accumulate a significant amount I'll be doing that.
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I'm sure that kind of headwind doesn't bother you since you can easily make more than 20% yearly profits, am I right?
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I've had better and worse than that but on an average 25% is close. I spend a lot of what I make but a chart of my liquid networth climbs steadily without too much drawdown.

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