NewbSaibot: 18 TIMES THE SPEED OF LIGHT. Because FUCK YOU, Daut
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Nitewin United States. Dec 18 2020 00:01. Posts 1539
US Dollar is losing value and will continue that trend as more money is being printed. People are fleeing into crypto, precious metals, and stocks. There may be a pull back but it's just getting started imo.
On December 17 2020 23:01 Nitewin wrote:
US Dollar is losing value and will continue that trend as more money is being printed. People are fleeing into crypto, precious metals, and stocks. There may be a pull back but it's just getting started imo.
not really, precious metals have been quite stagnant and for printing trillions I'm astonished by how resilient USD is.
The moment to buy was at 5-10k earlier in the year, or hell even before this monster 20% run up in a couple days at 18k. You can buy here if you want but there's much more risk now than when it was cheap. I was leveraged before the monster run, I deleveraged now to take some risk off. Ofc it can also go to 100k from here so do with your money what you will.
There won't be many people selling right now. I think the only people selling are those who have leveraged longs open and decide to close them and book profits. But I don't see any major whales creating taxable events for 2020 during a new price discovery phase and willingly paying taxes in 4 months. I think we see a major pullback in January when people dump and defer taxes to April 2022, but I do think we'll see a continued bull market for at least 6 months into next summer. Who knows though, I don't think we're looking at 5x multiples from here like we were in May, but maybe it gets frothy like in late 2017.
NewbSaibot: 18 TIMES THE SPEED OF LIGHT. Because FUCK YOU, Daut
On December 18 2020 06:23 Daut wrote:
There won't be many people selling right now. I think the only people selling are those who have leveraged longs open and decide to close them and book profits. But I don't see any major whales creating taxable events for 2020 during a new price discovery phase and willingly paying taxes in 4 months. I think we see a major pullback in January when people dump and defer taxes to April 2022, but I do think we'll see a continued bull market for at least 6 months into next summer. Who knows though, I don't think we're looking at 5x multiples from here like we were in May, but maybe it gets frothy like in late 2017.
Not much downside to buy now, btc seems to be holding 23k extremely well at historically low volatility levels. There’s opportunity in the alts as well since those might have more room to run, higher risk higher reward
On December 18 2020 06:23 Daut wrote:
There won't be many people selling right now. I think the only people selling are those who have leveraged longs open and decide to close them and book profits. But I don't see any major whales creating taxable events for 2020 during a new price discovery phase and willingly paying taxes in 4 months. I think we see a major pullback in January when people dump and defer taxes to April 2022, but I do think we'll see a continued bull market for at least 6 months into next summer. Who knows though, I don't think we're looking at 5x multiples from here like we were in May, but maybe it gets frothy like in late 2017.
are u shorting on the Jan 1st?
I've never shorted BTC. I won't short Jan 1, but I'll sell a bunch, and will buy some back if there's a pullback, and if it just keeps going up I'll slowly sell on the way up this time unlike 2017.
NewbSaibot: 18 TIMES THE SPEED OF LIGHT. Because FUCK YOU, Daut
I've been selling some, just like 5-10% of what I have. Seems stupid to have >60% net worth in BTC alone, plus whatever alts I also have bags of and need to be responsible. Would buy a dip if it comes, but if it doesn't, I'm still happy and I guess I'll keep selling slowly on the way up.
NewbSaibot: 18 TIMES THE SPEED OF LIGHT. Because FUCK YOU, Daut
my karma is done, now time to enjoy life, peace is the way karma is a way Jesus is a way
Last edit: 17/06/2022 01:06
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hiems United States. Jan 08 2021 01:39. Posts 2979
I feel we've all seen some crazy people throughout the years from the poker world, but I have honestly never seen anyone like this Alex Wice character.
I beat Loco!!! [img]https://i.imgur.com/wkwWj2d.png[/img]
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AndrewSong United States. Jan 09 2021 00:38. Posts 2355
On January 07 2021 18:32 lostaccount wrote:
near 40k atm guys shoudl still get some
hard disagree with this. If you are not in yet, stay out
this is a many to a few moment
many are buying, from the few.
at the bottom its the few buying from the many
that is why it looks most bullish at the top and bearish at the bottom
retails are back and last leg of the run can be extreme. bull market corrections are inevitable. 90% must lose
On January 08 2021 00:39 hiems wrote:
I feel we've all seen some crazy people throughout the years from the poker world, but I have honestly never seen anyone like this Alex Wice character.
He is the Durrr of crypto, Id say the Isildur but he is too geeky for that.
Ex-PokerStars Team Pro Online
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AndrewSong United States. Jan 09 2021 07:13. Posts 2355
On January 09 2021 00:56 Spitfiree wrote:
I think I'll just wait for all the Instagram models and influencers to start shilling it and then short it
June fut pricing in 18% out for 6mo 8-10% premium
1 china made internet scam coin for 44k. seems too good not to carry the basis at the very least. its a gift
On January 07 2021 18:32 lostaccount wrote:
near 40k atm guys shoudl still get some
hard disagree with this. If you are not in yet, stay out
this is a many to a few moment
many are buying, from the few.
at the bottom its the few buying from the many
that is why it looks most bullish at the top and bearish at the bottom
retails are back and last leg of the run can be extreme. bull market corrections are inevitable. 90% must lose
Looks like ur right I think we might be heading to 35k, couldn’t hold at 40k
my karma is done, now time to enjoy life, peace is the way karma is a way Jesus is a way
Last edit: 17/06/2022 01:06
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hiems United States. Jan 11 2021 01:51. Posts 2979
Yeah I tried learning a bit about options when BartonOptions was getting popular on twitter and I had no idea wtf this guy was ever talking about, hah. Learned some basic concepts about put/call contracts but that's about it and was pretty confused with some of the greeks but didn't really put that much time into it.
Overall though, seems like most smart ppl suggest to avoid options altogether for most investors. I'd imagine it'd be good thing to learn though to understand market conditions / use as a proxy for what position to take.
I beat Loco!!! [img]https://i.imgur.com/wkwWj2d.png[/img]
my karma is done, now time to enjoy life, peace is the way karma is a way Jesus is a way
Last edit: 17/06/2022 01:07
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AndrewSong United States. Jan 11 2021 07:14. Posts 2355
On January 11 2021 00:51 hiems wrote:
Yeah I tried learning a bit about options when BartonOptions was getting popular on twitter and I had no idea wtf this guy was ever talking about, hah. Learned some basic concepts about put/call contracts but that's about it and was pretty confused with some of the greeks but didn't really put that much time into it.
Overall though, seems like most smart ppl suggest to avoid options altogether for most investors. I'd imagine it'd be good thing to learn though to understand market conditions / use as a proxy for what position to take.
Haha yeah, unless ur booking thru paradigm, quotes on deribit are scam tier. its still v important to read the flow since options oi got so huge
These kind of ' corrections ' are why BTC will have a really tough time getting the average person to their money in it.
I feel like the bitcoin ideal is long dead. When billionaires invest in BTC the crypto world every crypto fan says it 'feels good that billionaires invest in it to legitimize it further' which is fucking retarded, considering its billionaires in the first place that BTC is trying to move out of.
99% of that community is in there cause of the volatility and trying to make money and don't believe in crypto. The question is, is BTC designed well enough to go past people's desires and beliefs and gain advantage naturally?
Last edit: 11/01/2021 16:56
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AndrewSong United States. Jan 11 2021 23:26. Posts 2355
On January 11 2021 15:51 Spitfiree wrote:
These kind of ' corrections ' are why BTC will have a really tough time getting the average person to their money in it.
I feel like the bitcoin ideal is long dead. When billionaires invest in BTC the crypto world every crypto fan says it 'feels good that billionaires invest in it to legitimize it further' which is fucking retarded, considering its billionaires in the first place that BTC is trying to move out of.
99% of that community is in there cause of the volatility and trying to make money and don't believe in crypto. The question is, is BTC designed well enough to go past people's desires and beliefs and gain advantage naturally?
agree. greatest value of btc comes from speculation of price. it's a store of gamble, not value. retail interest to trade is what makes it so valuable. just another money game
On January 11 2021 15:51 Spitfiree wrote:
These kind of ' corrections ' are why BTC will have a really tough time getting the average person to their money in it.
I feel like the bitcoin ideal is long dead. When billionaires invest in BTC the crypto world every crypto fan says it 'feels good that billionaires invest in it to legitimize it further' which is fucking retarded, considering its billionaires in the first place that BTC is trying to move out of.
99% of that community is in there cause of the volatility and trying to make money and don't believe in crypto. The question is, is BTC designed well enough to go past people's desires and beliefs and gain advantage naturally?
No it has nothing to do with getting away from billionares, its getting away from centralized and controlled currency.
The fluctations of price is unanvoidable due to offer/demand for the time being and it makes it fertile ground for traders especiallly with the public (retail) interst, that however will progessively stop as adoption grows the price stabilizes.
You are wrong that they don't believe in crpto, all holders believe in crypto and most traders also do.
I have said it before but Elon Musk transferring all his balance sheets to BTC would be the single biggest inflection point that I can think of.
I guess if Jamie Dimon did the same that might be more impactful but I don't ever see the ladder happening.
My brother and sister-in-law both work for JP Morgan Chase and I don't hate them but they are fighting for the Dark Side. I imagine my brother one day fighting through Darth Dimon's lightning blasts to throw him out into infinite space but that is never actually going to happen. At this point I openly deride them for working there but they are in a way trapped and I can sympathize.
My brother once told me that he doesn't even understand why Jamie Dimon doesn't just hire 1 guy to move trillions between London and Manhattan and charge a %. This is already happening but Jamie Dimon himself decides to fund pipelines that poison cities, continue backing $800+ billion partially sunken costs in the oil industry, fraudulently manipulating precious metals markets, and 85% of their profits come from penalties and fees.
BTC is better in just about every imaginable way except for when it is compared to a Chase Freedom Card sold to you by Kevin Hart to buy a cup of coffee. The point about volatility is true too. Most people do not want to deal with the possibility of 20% dips in a day. There is also my fear of teams of Chinese hackers figuring out how to crack BTC encryption with quantum computers.
Anyways, JP Morgan Chase is a criminal organization led by a mob boss Jamie Dimon that will eventually collapse and die. Regardless of whether my family members work there or not I will do whatever I can to put a stop to it. All these banks will do whatever it takes to make a profit so be on the lookout for conversion of some of their balance sheets to BTC, adopting Blockchain technology, or even coming out with their own coin eventually. It will not be as pure or as beautiful or as hard as BTC.
I can never tell if lostaccount's posts are serious. They're consistently the worst advice I can ever imagine someone giving -- I've started sportsbetting for supplemental income, im going to buy BTC every month for 20 years for my retirement, BTC is near 40k you guys should buy some, I just sold it all at 34k and bought a car and the litecoin of metal.
Please tell me this has all been an elaborate troll.
NewbSaibot: 18 TIMES THE SPEED OF LIGHT. Because FUCK YOU, Daut
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Santafairy Korea (South). Jan 12 2021 20:14. Posts 2226
how much did he supplementally lose
It seems to be not very profitable in the long run to play those kind of hands. - Gus Hansen
On January 12 2021 19:06 Daut wrote:
I can never tell if lostaccount's posts are serious. They're consistently the worst advice I can ever imagine someone giving -- I've started sportsbetting for supplemental income, im going to buy BTC every month for 20 years for my retirement, BTC is near 40k you guys should buy some, I just sold it all at 34k and bought a car and the litecoin of metal.
Please tell me this has all been an elaborate troll.
you know what went down in the thread "Lostaccount not paying his stake"
my karma is done, now time to enjoy life, peace is the way karma is a way Jesus is a way
Last edit: 09/01/2022 17:32
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AndrewSong United States. Jan 12 2021 21:25. Posts 2355
On January 12 2021 19:06 Daut wrote:
I can never tell if lostaccount's posts are serious. They're consistently the worst advice I can ever imagine someone giving -- I've started sportsbetting for supplemental income, im going to buy BTC every month for 20 years for my retirement, BTC is near 40k you guys should buy some, I just sold it all at 34k and bought a car and the litecoin of metal.
Please tell me this has all been an elaborate troll.
Why would you buy TSLA when its 6x the market cap of Toyota and even if it reaches its goals it will still most likely be overpriced
I get why the price is so high right now, but belief can easily be crumpled and I don't see how it could do a significant move up
No it has nothing to do with getting away from billionares, its getting away from centralized and controlled currency.
The second someone has as much power in crypto as billionaires do in our system, the crypto world will collapse ... That's the whole point of crypto it disincentivizes having a 1% generically
On January 12 2021 19:06 Daut wrote:
I can never tell if lostaccount's posts are serious. They're consistently the worst advice I can ever imagine someone giving -- I've started sportsbetting for supplemental income, im going to buy BTC every month for 20 years for my retirement, BTC is near 40k you guys should buy some, I just sold it all at 34k and bought a car and the litecoin of metal.
Please tell me this has all been an elaborate troll.
Buy at 23 sell 34 make 11 then the bets I post usually win
I do also give good advice to play devils advocate
The oxymoron lol
Or can the devil be good again?
As a Jesus lover I believe the devil will be back to light in the future
Yea I mean congrats, you bought at 23k, sold at 34k and created a taxable event on it without short term cap gains so you have to pay 2x+ the tax rate when you could have just sat on it since $800 like most poker players and been 40x and get the 15-20% cap gains rate when we do cash it out.
I have no idea what BTC will do in the next week. I have bids out from 27500 to 31500 if it dips. But I'd be absolutely shocked if we don't hit a new ATH before June, so unless you're a godlike swing trader, ignore the 10-20% swings that will be happening and wait for the $45-50k range, and hopefully be able to hold on to your coins for longer than a year so you can pay less taxes on the gains.
Remember, unless you're a really good trader (and I sure as fuck am not), the goal is to passively invest and get compound gains and pay less in taxes. We all get FOMO and can't resist buying shitcoins from time to time, but unless you're a proven winner don't make it the majority of your crypto holdings or actions. Just buy dips, take profits on overextensions, don't be too greedy, and don't be scared to buy if things have dropped.
NewbSaibot: 18 TIMES THE SPEED OF LIGHT. Because FUCK YOU, Daut
The Intelligent Investor by LostAccount:
-bet sports to supplement your income
-buy BTC every month for the next 20 years and worry about it when you retire
-shill the local tops
-sell the dips
-spend your profits on cars, great store of value
-dont pay your taxes, ever
NewbSaibot: 18 TIMES THE SPEED OF LIGHT. Because FUCK YOU, Daut
The second someone has as much power in crypto as billionaires do in our system, the crypto world will collapse ... That's the whole point of crypto it disincentivizes having a 1% generically
No, the point of crypto isn't some socialist dream for equality about the 1% or billionares, its descentralization.
Billionares have access to power because they can use the state, billionares cannot control bitcoin unless they were to control most of the mining pool and if they do bitcoin would lose its value so basically they'd spend all their networth to hold something that would collapse in value as consequence of their actions.
Ex-PokerStars Team Pro Online
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AndrewSong United States. Jan 13 2021 02:51. Posts 2355
On January 12 2021 19:06 Daut wrote:
I can never tell if lostaccount's posts are serious. They're consistently the worst advice I can ever imagine someone giving -- I've started sportsbetting for supplemental income, im going to buy BTC every month for 20 years for my retirement, BTC is near 40k you guys should buy some, I just sold it all at 34k and bought a car and the litecoin of metal.
Please tell me this has all been an elaborate troll.
Buy at 23 sell 34 make 11 then the bets I post usually win
I do also give good advice to play devils advocate
The oxymoron lol
Or can the devil be good again?
As a Jesus lover I believe the devil will be back to light in the future
Yea I mean congrats, you bought at 23k, sold at 34k and created a taxable event on it without short term cap gains so you have to pay 2x+ the tax rate when you could have just sat on it since $800 like most poker players and been 40x and get the 15-20% cap gains rate when we do cash it out.
I have no idea what BTC will do in the next week. I have bids out from 27500 to 31500 if it dips. But I'd be absolutely shocked if we don't hit a new ATH before June, so unless you're a godlike swing trader, ignore the 10-20% swings that will be happening and wait for the $45-50k range, and hopefully be able to hold on to your coins for longer than a year so you can pay less taxes on the gains.
Remember, unless you're a really good trader (and I sure as fuck am not), the goal is to passively invest and get compound gains and pay less in taxes. We all get FOMO and can't resist buying shitcoins from time to time, but unless you're a proven winner don't make it the majority of your crypto holdings or actions. Just buy dips, take profits on overextensions, don't be too greedy, and don't be scared to buy if things have dropped.
The second someone has as much power in crypto as billionaires do in our system, the crypto world will collapse ... That's the whole point of crypto it disincentivizes having a 1% generically
No, the point of crypto isn't some socialist dream for equality about the 1% or billionares, its descentralization.
Billionares have access to power because they can use the state, billionares cannot control bitcoin unless they were to control most of the mining pool and if they do bitcoin would lose its value so basically they'd spend all their networth to hold something that would collapse in value as consequence of their actions.
central banks are often autonomous to different degrees as a protective measure from irresponsible spending from the government, but "The Fed" isn't private by any definition.
On January 14 2021 00:22 Baalim wrote:
billionares do not control fiat currencies, governments do.
Well its not governments, but that's beside the point, but I understand what you mean
I'd say discussing this on a 'crypto' level is too vague as it depends on the currency that would dominate
With BTC you neither want to own the hash rate, nor do you want to own a large part of the quantity. Sure, scarcity is one of the reasons BTC's price rises, but that's up to a point. Both would be quite counter-productive, thus killing the incentive to have a 1% that 'owns' the system
i meant it more as like btc actually went down a tad bit and in some part due to his tweets of doge -- was this a strategy for a good entry point into btc?
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hiems United States. May 05 2021 04:38. Posts 2979
Doge
I beat Loco!!! [img]https://i.imgur.com/wkwWj2d.png[/img]
On December 17 2020 20:03 Baalim wrote:
at least its not the 2010 thread about BTC because it hurts to see that we all missed the chance at making hundreds of millions lol
I remember that or it was in 2015 can't remember almost bought but didn't figure out how to make a wallet and just left it ...
Doge has a massive whale with 30% I bought that shit at the start of the pump at 0.7 for a 1x because I couldn't imagine such trash having such a high market cap, underestimated clownworld.
Rear naked woke
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Kayleklarck United States. May 21 2021 09:44. Posts 4
I made a post on Twitter in January to go 111 % BTC / 22 % ETH / 11 % SOL that made me look like a genius but timex made a good point recently. Are we just going all-in on SOL to then go all-in on BTC at "SOL top"? (This sort of stuff always seems a bit dramatic to me also) I never actually put any on SOL because I have been pretty busto all year but I think timex is on to something. I am probably incapable of actually doing the required due diligence to really dig deep here and I don't have any skin in the game besides HODL BTC so I don't really care THAT much... I mean obv I wanted to buy SOL @ $3 and didn't do it because I didn't really know and I had no money to invest. I still think BTC is hard as fuck and that we are still pretty fucking early.
There's a few reasons why i am not interested in BTC.
Its a zero sum game. No money is being produced by crypto. We already know there are tons of winners (people who bought before the 2020s). Logically, there will be losers. I have no idea when or why BTC will crash, but i highly doubt it will never happen. It reminds me of the 2000 bubble where a bunch of worthless companies were being inflated to the moon, and we know how that ended. I also think a some point the feds are going to want to compete with it with their own currency, or even outright regulate it. and the feds always win.
Who agrees with me? Well this dude: In 2018, legendary investor Warren Buffett told CNBC that “in terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending.”
Of course, some people are really talented at trading it (like Smuft), i guess there's no problem with that if its working for you. But putting your networth in BTC and blindly holding it for 20 years i think is extremely risky.
Instead, i think the smartest play is to pump SPY whenever you can and hold forever. It won't make 1000% profits like the BTC guys made, but a steady 10% a year is really good and much much safer. I wish i started investing much earlier, especially back when i was making thousands at poker =/
[QUOTE]On October 17 2021 21:16 Floofy wrote:
There's a few reasons why i am not interested in BTC.
Its a zero sum game.
. It reminds me of the 2000 bubble where a bunch of worthless companies were being inflated to the moon, and we know how that ended/QUOTE]
First no it's not a zero sum game, you state it like a fact which it isn't.
I agree with the 2000 bubble, except that ended up being extremely good for humanity in the longterm and Amazon's market cap atm is about 1.5 trillion. Crypto tech mass adoption is where the industry wants to go. By investing in crypto you're basically saying you believe that such a thing will occur. Giving Buffet as an example is the most obvious authority bias ever, the guy said the computer and the internet will be dead super fast as well, does that make him a dumb investor? No it doesn't - it simply means he doesn't know it all and there is a reason he makes longterm safe investments and stays out of crypto-like markets.
All these big names calling for the fall of bitcoin yet none of them shorts it, why is that?
On October 17 2021 22:59 Spitfiree wrote:
[QUOTE]On October 17 2021 21:16 Floofy wrote:
There's a few reasons why i am not interested in BTC.
Its a zero sum game.
. It reminds me of the 2000 bubble where a bunch of worthless companies were being inflated to the moon, and we know how that ended/QUOTE]
First no it's not a zero sum game, you state it like a fact which it isn't.
I agree with the 2000 bubble, except that ended up being extremely good for humanity in the longterm and Amazon's market cap atm is about 1.5 trillion. Crypto tech mass adoption is where the industry wants to go. By investing in crypto you're basically saying you believe that such a thing will occur. Giving Buffet as an example is the most obvious authority bias ever, the guy said the computer and the internet will be dead super fast as well, does that make him a dumb investor? No it doesn't - it simply means he doesn't know it all and there is a reason he makes longterm safe investments and stays out of crypto-like markets.
All these big names calling for the fall of bitcoin yet none of them shorts it, why is that?
If its not a zero sum game how does it produce profits? I am interested to know that. You said i am wrong but provided 0 explanations.
I think the reason people aren't shorting BTC is we have no idea WHEN it might crash. A bull run could easily continue for the next 10 years, we have no idea. I am absolutly not advising anybody to short it, i just wouldn't hold it for the long term like you would with SPY.
About the 2000 bubble, i was refering to the many companies which were essentially just .com websites and were worthless, producing 0 profits.
EDIT: After some googling, you are "right". It is not 0 sum. Miners sell their coins they're given for "free", driving down the value of BTC. So its more similar to poker where there is actually a "rake". So its worst than zero sum.
I'm not referring to BTC only and even BTC alone if you take it for it's tech is not a zero sum game. Which other technology allows for the transaction of a billion $ for a close-to-no fee?
There's plenty of tech out there which simplifies decades-old bureaucratic processes and makes them better. Since you want examples - Vechain, Polkadot, Cardano - you can research their use cases if you're interested, but I won't spend time explaining it when it's easily available for anyone to find out.
It's true, a good portion of those cryptocurrencies will die out with zero benefits. It seems like that is the natural development of emerging markets.
On October 17 2021 22:59 Spitfiree wrote:
[QUOTE]On October 17 2021 21:16 Floofy wrote:
There's a few reasons why i am not interested in BTC.
Its a zero sum game.
. It reminds me of the 2000 bubble where a bunch of worthless companies were being inflated to the moon, and we know how that ended/QUOTE]
First no it's not a zero sum game, you state it like a fact which it isn't.
I agree with the 2000 bubble, except that ended up being extremely good for humanity in the longterm and Amazon's market cap atm is about 1.5 trillion. Crypto tech mass adoption is where the industry wants to go. By investing in crypto you're basically saying you believe that such a thing will occur. Giving Buffet as an example is the most obvious authority bias ever, the guy said the computer and the internet will be dead super fast as well, does that make him a dumb investor? No it doesn't - it simply means he doesn't know it all and there is a reason he makes longterm safe investments and stays out of crypto-like markets.
All these big names calling for the fall of bitcoin yet none of them shorts it, why is that?
If its not a zero sum game how does it produce profits? I am interested to know that. You said i am wrong but provided 0 explanations.
I think the reason people aren't shorting BTC is we have no idea WHEN it might crash. A bull run could easily continue for the next 10 years, we have no idea. I am absolutly not advising anybody to short it, i just wouldn't hold it for the long term like you would with SPY.
About the 2000 bubble, i was refering to the many companies which were essentially just .com websites and were worthless, producing 0 profits.
EDIT: After some googling, you are "right". It is not 0 sum. Miners sell their coins they're given for "free", driving down the value of BTC. So its more similar to poker where there is actually a "rake". So its worst than zero sum.
Ex-PokerStars Team Pro Online
1
vasoline73 United States. Oct 19 2021 02:45. Posts 808
Floofy you should read The Sovereign Individual. "cyber money" has been predicted for many years. It's utility is going to increase until it does replace USD, etc. That may sound crazy. But that book talks about the future I think BTC/crypto bulls predict we will be living in.
On October 19 2021 01:45 vasoline73 wrote:
Floofy you should read The Sovereign Individual. "cyber money" has been predicted for many years. It's utility is going to increase until it does replace USD, etc. That may sound crazy. But that book talks about the future I think BTC/crypto bulls predict we will be living in.
I can't answer your ? about zero sum, etc.
I am not saying all of crypto will be gone in 50 years. The technology itself is likely here to stay. I am saying most of your dogecoins, litecoins, etherum etc will most likely have crashed by then. China has already banned crypto. I think US would be more likely to simply compete with it with their own fed crypto instead of outright banning it but who knows.
On October 19 2021 01:45 vasoline73 wrote:
Floofy you should read The Sovereign Individual. "cyber money" has been predicted for many years. It's utility is going to increase until it does replace USD, etc. That may sound crazy. But that book talks about the future I think BTC/crypto bulls predict we will be living in.
I can't answer your ? about zero sum, etc.
I am not saying all of crypto will be gone in 50 years. The technology itself is likely here to stay. I am saying most of your dogecoins, litecoins, etherum etc will most likely have crashed by then. China has already banned crypto. I think US would be more likely to simply compete with it with their own fed crypto instead of outright banning it but who knows.
What you are doing here is the equivalent of a 5nl fish explaining high-stakes player how slowplaying AA to trap people is a good strategy.
On October 19 2021 01:45 vasoline73 wrote:
Floofy you should read The Sovereign Individual. "cyber money" has been predicted for many years. It's utility is going to increase until it does replace USD, etc. That may sound crazy. But that book talks about the future I think BTC/crypto bulls predict we will be living in.
On October 19 2021 01:45 vasoline73 wrote:
Floofy you should read The Sovereign Individual. "cyber money" has been predicted for many years. It's utility is going to increase until it does replace USD, etc. That may sound crazy. But that book talks about the future I think BTC/crypto bulls predict we will be living in.
I can't answer your ? about zero sum, etc.
I am not saying all of crypto will be gone in 50 years. The technology itself is likely here to stay. I am saying most of your dogecoins, litecoins, etherum etc will most likely have crashed by then. China has already banned crypto. I think US would be more likely to simply compete with it with their own fed crypto instead of outright banning it but who knows.
What you are doing here is the equivalent of a 5nl fish explaining high-stakes player how slowplaying AA to trap people is a good strategy.
I don't think its usefull to argue with you guys since you provide 0 counter arguments and seem to have 0 interest in my arguments but...
So Warren buffet is a 5nl fish at investing? He and many smart people also think BTC isn't going to be on a bull run forever.
Just imagine in 20 years we get quantum computers and hackers are now able to hack the blockchains... https://www.cnbc.com/2021/06/10/long-...omputers-hacking-bitcoin-wallets.html
I am not saying THIS is what will happen, but i can just think of so many ways things can go wrong in the next 20 years.
Now i don't see any issues with someone like Smuft trading the currency if its working for him. I got no idea how long the bull run will last and it could easily reach 150K one day. my issue would be someone putting all of his networth in BTC and blindly letting it sit there for 20 years for his retirement.
and tbh i will bump Baal's post once feds do release their own crypto
james9994: make note dont play against floofy, ;(
Last edit: 19/10/2021 14:26
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hiems United States. Oct 19 2021 14:59. Posts 2979
Buffet is kind of like Doyle Brunson more than 5nl fish.
Just cause he's Doyle doesn't mean he isn't old and out of touch with stuff.
I beat Loco!!! [img]https://i.imgur.com/wkwWj2d.png[/img]
On October 19 2021 01:45 vasoline73 wrote:
Floofy you should read The Sovereign Individual. "cyber money" has been predicted for many years. It's utility is going to increase until it does replace USD, etc. That may sound crazy. But that book talks about the future I think BTC/crypto bulls predict we will be living in.
I can't answer your ? about zero sum, etc.
I am not saying all of crypto will be gone in 50 years. The technology itself is likely here to stay. I am saying most of your dogecoins, litecoins, etherum etc will most likely have crashed by then. China has already banned crypto. I think US would be more likely to simply compete with it with their own fed crypto instead of outright banning it but who knows.
What you are doing here is the equivalent of a 5nl fish explaining high-stakes player how slowplaying AA to trap people is a good strategy.
I don't think its usefull to argue with you guys since you provide 0 counter arguments and seem to have 0 interest in my arguments but...
So Warren buffet is a 5nl fish at investing? He and many smart people also think BTC isn't going to be on a bull run forever.
Just imagine in 20 years we get quantum computers and hackers are now able to hack the blockchains... https://www.cnbc.com/2021/06/10/long-...omputers-hacking-bitcoin-wallets.html
I am not saying THIS is what will happen, but i can just think of so many ways things can go wrong in the next 20 years.
Now i don't see any issues with someone like Smuft trading the currency if its working for him. I got no idea how long the bull run will last and it could easily reach 150K one day. my issue would be someone putting all of his networth in BTC and blindly letting it sit there for 20 years for his retirement.
and tbh i will bump Baal's post once feds do release their own crypto
I have little interest because of the same rason highstakes regs dont argue about hands with microlimit players, the knowledge disparity is too big.
Quantum computer are no threat to blockchains, they can easily be forked into quantum hacking resistant blockchains.
LOL @ "it could easily reach 150k one day"... it could easily reach 150k by the end of the year actually and it will very likely be worth millions.
Governments will deploy their own blockchains, the ones who do first will leap forward other countries, being able to deploy smart contracts will greatly reduce bureaucracy and fraud among counltess benefits, however a government blockchain poses no threat to cryptocurrency at all, theres already like a dozen USD-pegged crpto currencies and hell I think a USD-pegged decentralized crypto might be safer than a "real USD crypto" that would be liable to the whims of ignorant bureaucrats.
On October 19 2021 01:45 vasoline73 wrote:
Floofy you should read The Sovereign Individual. "cyber money" has been predicted for many years. It's utility is going to increase until it does replace USD, etc. That may sound crazy. But that book talks about the future I think BTC/crypto bulls predict we will be living in.
I can't answer your ? about zero sum, etc.
I am not saying all of crypto will be gone in 50 years. The technology itself is likely here to stay. I am saying most of your dogecoins, litecoins, etherum etc will most likely have crashed by then. China has already banned crypto. I think US would be more likely to simply compete with it with their own fed crypto instead of outright banning it but who knows.
What you are doing here is the equivalent of a 5nl fish explaining high-stakes player how slowplaying AA to trap people is a good strategy.
No he is right those are trash coins litecoin and doge. Fantom maximalism is the future.
I feel like everything is ok unless it gets regulated in some way. I am less worried about the quantum computing hackers.
I remember doing math that if Bitcoin was the size of the gold market BTC would be ~$600,000 USD. Gold is comically worse than BTC by most metrics and people will realize banks and wire transfers are worse too. I also believe in bitcoinization. What number does that get us too???? I don't know. Besides retirement accounts and a checking account it's all-in but BTC will be a slow, volatile climb until it's not.
Yeah, Vancouver is nice. I could go kayaking or hiking a mountain and then eat some good food. It does have a sort of Los Angeles aspect to it meaning superficiality, expensive as fuck, and homeless people. I don't blame the homeless people for being homeless or moving there and it seemed to be isolated to whatever the name of that one part of town is.
Guys tried to warn you last year I think it was but good entry now for Fantom original created by team of Koreans ... only one left now but whatevs Andre Cronje is building solidly will release soon etc.
On March 27 2022 18:24 CamilaPunt wrote:
There kinda has to be a big ass correction in btc in upcoming times down to 25ish before going back up...lots of confluence leading to this
On March 29 2022 00:58 CamilaPunt wrote:
???? you will be surprised
Ok, lets bet on it, what odds do you give me if i take the side of "doesnt touch 25k or under in 2022" ?
not gonna bet! just to be clear the idea is not coming from me
but the idea behind 20-30 range is not new and you will find good traders talking about it
its a game of probabilities and they think this the most likely scenario due to elliot wave count with fibonacci time confluences amongst other high time frame stuff going on
does it mean it has to go there? nope... but you should be aware that it is a very possible situation
On April 27 2022 07:34 lostaccount wrote:
I see 35k soon, just my opinion
I see a massive recession looming beyond crypto, the covid stimulus were absurdly bloated and now student debt will be a hot topic to get elected, the fed has lost course and have avoided needed contraction periods, it doesnt look good, it doesnt look good at all.
On April 27 2022 07:34 lostaccount wrote:
I see 35k soon, just my opinion
I see a massive recession looming beyond crypto, the covid stimulus were absurdly bloated and now student debt will be a hot topic to get elected, the fed has lost course and have avoided needed contraction periods, it doesnt look good, it doesnt look good at all.
I'm going to be so pissed if the government forgives $50k in student loans for everyone.
These fucking communists...
I beat Loco!!! [img]https://i.imgur.com/wkwWj2d.png[/img]
On May 02 2022 02:13 lostaccount wrote:
Haha but if he played Protoss would he be raking it in, in streams? He’s making a decent amount streaming I think
On May 01 2022 05:24 RiKD wrote:
Baal has joined the collapse train.
I didn't join the retarded "late stage capitalism" retard train lol, quite the contrary the ever growin state meddling with the economy is will soon catch up.
On May 02 2022 16:23 RiKD wrote:
So, you think the world will collapse and then a new super capitalism will save everyone?
I've never said the world will collapse lol, Isaid that I think an economic crisis will likely happen in a near future due to government irresponsability with the deficit and accelerated with Covid reduced productivity but increased spending.
I don't know what you mean with super capitalism, but if you mean some even more distopian american inbred corp-state consumerism then definitelly not, what I see happening and I'm betting most of what I have is decentralization, which means freer markets, a big hit to bureocracy and cronyism. Beyond that I dont know, political radicalization grows, demagoges from the right and the left are more popular than ever and economic hardship puts these people into power very rapidly.
guy i really like talking about why he thinks today lows r no good yet
Volume was no bueno, not tons of trapped traders down there - not even a lot of overall volume there really. We've made successive lows on constantly decreasing volume, usually dictates the real low will be made on a high volume move. Market structure hasn't come close to changing & we're slowly grinding off a "low", seems ripe for an elevator-down scenario. Lastly, I don't think people are done longing the dip yet - I want them to be hopeless and shorting lows, then bounce
if poker is dangerous to them i would rank sports betting as a Kodiak grizzly bear who smells blood after you just threw a javelin into his cub - RaiNKhAN
Who in gods name gave whales access to crypto? My god, they must be more advanced than we thought
if poker is dangerous to them i would rank sports betting as a Kodiak grizzly bear who smells blood after you just threw a javelin into his cub - RaiNKhAN
Luna was sick really i shorted very close to ATH and had target to 50s but did not believe and closed out around 78 haha and it went so far beyond
more experience needed and balls to hold so long
what is really worrisome is that it hit under 30k faster than expected, way faster
lower is very much possible and losing the 30k high time frame value-area-low is rly bad
we lost it yesterday and recovered as a deviation but its gonna be revisited eventually this year
btc most likely will pump to wipe the higher shorts before coming back down giving some hopium while at it before another blood bath
whats also so shitty is that the spx has so much friggin room to go down still (possibly) and btc follows suit. it broke the psychological 4k level yesterday but looking at its graph level like 2700 has ridiculous amount of confluence, not that it will get there but it should still go down quite a bit
my karma is done, now time to enjoy life, peace is the way karma is a way Jesus is a way
Last edit: 13/05/2022 17:25
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CrownRoyal United States. May 12 2022 03:40. Posts 11385
it's not really about having diamond hands, if you sell here you are a fish. ~20k is the absolute bottom allowed by the charts
I've been out of the market for 9 months waiting for this scenario to play out, I've already started to buy a little bit back in and will be fully allin soon. Further, if we go below 25k I will use my house as collateral for a loan and buy bitcoin.
Every time the RSI has been this low on the weekly has been historically one of the best times to buy (the blue horizontal line on the chart at the bottom, i can't fit all of the chart data on the screen well but they are directly lined up. What is below happened at the same point on the chart above)
I can post like 10 more of these charts for confluence if you need confidence that this isn't the time to sell and you should in fact be buying.
WHAT IS THIS
Last edit: 12/05/2022 04:08
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CrownRoyal United States. May 12 2022 04:15. Posts 11385
also, i'm not calling for 40k anytime soon, i'm just telling you if you are willing to hold a position for 2 years this is the best buying opportunity you will ever have.
if poker is dangerous to them i would rank sports betting as a Kodiak grizzly bear who smells blood after you just threw a javelin into his cub - RaiNKhAN
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hiems United States. May 12 2022 18:55. Posts 2979
Lol wtf luna. Back browsing CT
I beat Loco!!! [img]https://i.imgur.com/wkwWj2d.png[/img]
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hiems United States. May 12 2022 18:56. Posts 2979
I blame stroggoz
I beat Loco!!! [img]https://i.imgur.com/wkwWj2d.png[/img]
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Stroggoz New Zealand. May 12 2022 19:07. Posts 5296
Nah. I'll only start gloating if it goes down to 10k.
One of 3 non decent human beings on a site of 5 people with between 2-3 decent human beings
this harmonic has good chance of hitting - this trader guy is really good and if it does we should a nice rebound at 27ish to 30-40 range
NY open will decide shortly
edit pretty interesting price action yesterday bitcoin tried to go down a couple times and always came back very close to the high of the harmonic i posted above but never went above it (which would invalidate it) so still on to go down possible to that 27k range
"
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-Starting with a $30 deposit, grew to play the highest stakes online by the age of 18 using game theory, bankroll management, data mining and statistics as well as behavioural economics and psychology.
-Possessed one of the top 10 highest win-rates in the world in 6-max and Heads Up poker.
-At age 18, planned and executed my own marketing campaign culminating in announcingmyself to the world on Twoplustwo where I became known as the "Portuguese Poker Prodigy": http://forumserver.twoplustwo.com/29...rodigy-990495/ in a thread which reached over 10 million views.
-Throughout my career, I conducted over 30 interviews with all the top poker publications such as Bluff Magazine, Cardplayer magazine, Pokernews, Pokerstatic among others.
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-Quit Poker in 2012 due to becoming involved in a high-profile cheating scandal which sapped my love for the game.
"
One of 3 non decent human beings on a site of 5 people with between 2-3 decent human beings
On May 25 2022 04:38 Baalim wrote:
Also Haseeb Qureshi who as on LP.net and is a massive scammer
why does this world care about money so much. i dont understand why anyone needs more than 100M
i think 10M is too much let a lone 100M.
I've always thought about the same thing, in people like Musk I can see it, he has goals to push humanity technologically forward, but the ones who don't I think its just momentum, its what they have always done so they keep doing it.
An interesting this is that most ppl say that they would quit after X amount of money, but the people who actually have that amount rarely quit so either something changes while amassing that money or people who would quit are way less likely to build fortunes and I think the latter makes more sense because doing that requires a lot of sacrifices in your personal life that most people won't do, so you never get that rich in the first place.
On May 25 2022 04:38 Baalim wrote:
Also Haseeb Qureshi who as on LP.net and is a massive scammer
why does this world care about money so much. i dont understand why anyone needs more than 100M
i think 10M is too much let a lone 100M.
Having 100million means that you chose not to give a 90million of it away to save hundreds of lives. Having 10 million means you chose not to give away 5million so that you could save some lives. I don't see why (almost) anyone in the world should have more than 5million.
One of 3 non decent human beings on a site of 5 people with between 2-3 decent human beings
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hiems United States. Jun 11 2022 09:47. Posts 2979
On May 25 2022 04:38 Baalim wrote:
Also Haseeb Qureshi who as on LP.net and is a massive scammer
why does this world care about money so much. i dont understand why anyone needs more than 100M
i think 10M is too much let a lone 100M.
Having 100million means that you chose not to give a 90million of it away to save hundreds of lives. Having 10 million means you chose not to give away 5million so that you could save some lives. I don't see why (almost) anyone in the world should have more than 5million.
Lol.
100m is not enough for a sick yacht and yachts are the ultimate place to have sex with a woman.
I beat Loco!!! [img]https://i.imgur.com/wkwWj2d.png[/img]
0
hiems United States. Jun 11 2022 13:28. Posts 2979
On May 25 2022 04:38 Baalim wrote:
Also Haseeb Qureshi who as on LP.net and is a massive scammer
why does this world care about money so much. i dont understand why anyone needs more than 100M
i think 10M is too much let a lone 100M.
Having 100million means that you chose not to give a 90million of it away to save hundreds of lives. Having 10 million means you chose not to give away 5million so that you could save some lives. I don't see why (almost) anyone in the world should have more than 5million.
U admit ur a communist
I beat Loco!!! [img]https://i.imgur.com/wkwWj2d.png[/img]
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hiems United States. Jun 11 2022 13:29. Posts 2979
Look at stroggoz and lostaccoumt back to back posts so fuckin confusing
I beat Loco!!! [img]https://i.imgur.com/wkwWj2d.png[/img]
im pretty confident we go below 20k this year still
more importantly for alt holders if you somehow have not sold yet... it can and will fall so much more still, kinda gross the possibility in the high time frame aspect as we have lost the value area high and if you look at how we went up basically an impulse wave up .. what comes next --> impulse wave down which we are about half way so far :/
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hiems United States. Jun 11 2022 15:44. Posts 2979
On June 11 2022 13:30 CamilaPunt wrote:
im pretty confident we go below 20k this year still
more importantly for alt holders if you somehow have not sold yet... it can and will fall so much more still, kinda gross the possibility in the high time frame aspect as we have lost the value area high and if you look at how we went up basically an impulse wave up .. what comes next --> impulse wave down which we are about half way so far :/
ill be honest im worried about markets, but i have around 80k in cash and no expenses and money coming in from my job. still worried about the world/economy/markets tho.
I took some hits, lost some profits on some stuff but nothing too bad thanks to some safe positions and cash I had.
I beat Loco!!! [img]https://i.imgur.com/wkwWj2d.png[/img]
i started learning technical analysis because of these swings, losing 50% net worth ever so often sucks, catching a true bear market sucks even more alts and ponzi coins dying left and right...started learning too late unfortunately, still new to the game and i'm down a lot from last year till now due to have been a 'hodler' diamond hands moron
but its a similar game to poker w probabilites and mindset, as poker players we have a huge edge starting out because of the psychological part being one of the toughest for many and for us the swings are basically lol.
enjoying learning and attempting to be decent at a new thing.
Last edit: 11/06/2022 16:18
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hiems United States. Jun 11 2022 17:01. Posts 2979
Ya markets way harder than poker lol
BTW does brasil have cap gains?
I beat Loco!!! [img]https://i.imgur.com/wkwWj2d.png[/img]
Let's say an iPhone sized bar of gold is $5,000 USD (close to accurate). You have to get your buddy in Tokyo the equivalent of $5,000 USD as soon as possible. Are you going to wire it? Are you going to send $5,000 USD cash? Are you going to ship the iPhone sized bar of gold? Are you going to ship BTC? Are you going to do something else?
People are going to feel good about themselves if they are sitting on good gains, or sold at the right time, or bought at the right time. Which matters of course but all that matters now is what next?
Yes, I do have a garden. It is a fun hobby. Cheers. I just grew some lettuce. It was pretty swell but the yield was not great. Got like 3-4 salads out of it.
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Stroggoz New Zealand. Jun 19 2022 05:42. Posts 5296
On June 15 2022 02:59 RiKD wrote:
You would rather money be backed by gold versus hyper-bitcoinization or something like that?
Money is backed by trust, not gold or bitcoins. It used to be backed by gold because of how the banking system evolved, but eventually, people realized you don't need to do that. If there's a huge run on the bank, no bank is going to start digging into some gold supply stored away in a vault. They are going to ask the government for a stimulus package.
Gold is only really useful if society collapses and people need something to barter with. But then again you could use any number of alternatives.
One of 3 non decent human beings on a site of 5 people with between 2-3 decent human beings
Last edit: 19/06/2022 05:51
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Stroggoz New Zealand. Jun 19 2022 05:54. Posts 5296
Corporate America is being increasingly attacked by the ransomware industry. I wouldn't expect crypto to be looked favorably by those in power if Russians continue to evade detection by having their ransom money get paid in crypto.
Also hilarious that people are trying to sue celebrities for hyping up crypto. What a clown fest this is.
One of 3 non decent human beings on a site of 5 people with between 2-3 decent human beings
tradable assets like stocks or btc or whatever can go up higher than you can ever think possible, and also lower, it humbles you really. There are key levels/prices where it will hesistate, find buyers/sellers and you can find good trades around those but it can and will always break any support or resistance level for any reason
Booms and busts are a feature of a capitalist economy, not a bug. But the silly crypto kids think they can overcome it with their E-coins, as if decentralization is a panacea for everything.
fuck I should just sell some of my Pokemon cards, if no one stakes that is what I will have to do - lostaccount
1
Stroggoz New Zealand. Jun 20 2022 08:47. Posts 5296
I'm terrible at predicting the market. I would guess that crypto does bounce back a little though. The crash is mainly due to the current stagflation (at least that's what I read in the news). The business cycle eventually corrects itself, though the current political system is very unstable. It is not because people have decided bitcoin is a worthless piece of technology. We are still far from the territory where I'd want to start gloating.
One of 3 non decent human beings on a site of 5 people with between 2-3 decent human beings
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Stroggoz New Zealand. Jun 20 2022 09:02. Posts 5296
On June 20 2022 07:47 Loco wrote:
Booms and busts are a feature of a capitalist economy, not a bug. But the silly crypto kids think they can overcome it with their E-coins, as if decentralization is a panacea for everything.
A lot of the value in bitcoin seems to come from extremely irrational beliefs. Like the belief that banks don't keep accurate ledgers.
That is denying reality. Hard to predict whether people will keep believing things like this 10 years down the line. It is quite clear that the value of bitcoin/crypto is very strongly tied with whatever political system the world adopts, and that is not at all predictable
Debeers are still able to get people to fork out thousands to buy shiny rocks, and they have been doing it for a long time.
The major rational reasons for having crypto are grey or blackmarket uses. It clearly has value for ransomware payments or for avoiding bank fees. But there's no way the capitalization of bitcoin needs to be as much as it is to lubricate all of those industries. You only need your currency circulation to be a tiny % of the industries total value to be able to facilitate transactions.
One of 3 non decent human beings on a site of 5 people with between 2-3 decent human beings
From elliot wave perspective we still havent found bottom. 15k area seems about right. Maybe a little bull trap now to get the liquidity needed to get there. We might wick down to like 13 as i think celsius gets liquidated there. End of this month could find the bottom as its an appropriate fibo time or maybe this drags on for months which would blow
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Blitzkrieg0 United States. Jun 20 2022 14:29. Posts 50
On June 20 2022 07:47 Loco wrote:
Booms and busts are a feature of a capitalist economy, not a bug. But the silly crypto kids think they can overcome it with their E-coins, as if decentralization is a panacea for everything.
A lot of the value in bitcoin seems to come from extremely irrational beliefs. Like the belief that banks don't keep accurate ledgers.
That is denying reality. Hard to predict whether people will keep believing things like this 10 years down the line. It is quite clear that the value of bitcoin/crypto is very strongly tied with whatever political system the world adopts, and that is not at all predictable
Debeers are still able to get people to fork out thousands to buy shiny rocks, and they have been doing it for a long time.
The major rational reasons for having crypto are grey or blackmarket uses. It clearly has value for ransomware payments or for avoiding bank fees. But there's no way the capitalization of bitcoin needs to be as much as it is to lubricate all of those industries. You only need your currency circulation to be a tiny % of the industries total value to be able to facilitate transactions.
I saw a post about how crypto is doing a speed run of every banking issue that we ran into in the late 18 and early 1900s. People understand that the people with money are screwing them over correctly. The problem is that they look to crypto as a solution when it is even more corrupted without any regulation.
On June 20 2022 07:47 Loco wrote:
Booms and busts are a feature of a capitalist economy, not a bug. But the silly crypto kids think they can overcome it with their E-coins, as if decentralization is a panacea for everything.
A lot of the value in bitcoin seems to come from extremely irrational beliefs. Like the belief that banks don't keep accurate ledgers.
That is denying reality. Hard to predict whether people will keep believing things like this 10 years down the line. It is quite clear that the value of bitcoin/crypto is very strongly tied with whatever political system the world adopts, and that is not at all predictable
Debeers are still able to get people to fork out thousands to buy shiny rocks, and they have been doing it for a long time.
The major rational reasons for having crypto are grey or blackmarket uses. It clearly has value for ransomware payments or for avoiding bank fees. But there's no way the capitalization of bitcoin needs to be as much as it is to lubricate all of those industries. You only need your currency circulation to be a tiny % of the industries total value to be able to facilitate transactions.
I've literally never head anybody say that banks dont hold accurate ledgers and no grey markets aren't the only rational use for crypto lol also nobody I know has ever used crypto for buying drugs or whatever, this isnt 2015 silk road.
these ignorant takes are wild af
Ex-PokerStars Team Pro Online
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Liquid`Drone Norway. Jun 25 2022 08:58. Posts 3093
ye, crypto isn't even used for buying drugs anymore, now it's purely for speculation. Nobody I know who owns crypto has ever actually bought _anything_ with it. (yes i know latam might differ yadayada )
lol POKER
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Stroggoz New Zealand. Jun 25 2022 09:34. Posts 5296
Why are you guys implying reality is defined by your personal experience, or am I getting trolled here?
Fortune favors the bold.
One of 3 non decent human beings on a site of 5 people with between 2-3 decent human beings
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Liquid`Drone Norway. Jun 25 2022 11:28. Posts 3093
I'm trolling, but also of the serious opinion that a large majority of crypto holders are hoping to make more real money through buying crypto, and that they're not looking to buy x type of criminal thing, even if a small subset of crypto holders are using it for this reason. I also have the impression that the primarily idealistic investors is a similarly small subset. Would love to see data of this, possibly broken down by country/region though.
lol POKER
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Blitzkrieg0 United States. Jun 25 2022 17:46. Posts 50
Almost all crypto provides zero advantages over USD for buying drugs or any other illegal activities. Monero being privacy focused is the exception. There was a time ten+ years ago when people were using bitcoin for such purposes, but then three letter agencies figured out how to track addresses on the public ledger and it became apparent that it is strictly worse.
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Stroggoz New Zealand. Jun 25 2022 19:27. Posts 5296
Why is it being used for ransomware payments? Or at least that's what I've read. Nvm I looked it up and it's all monero. That makes sense now.
One of 3 non decent human beings on a site of 5 people with between 2-3 decent human beings
Last edit: 25/06/2022 19:38
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Stroggoz New Zealand. Jun 25 2022 19:29. Posts 5296
On June 25 2022 10:28 Liquid`Drone wrote:
I'm trolling, but also of the serious opinion that a large majority of crypto holders are hoping to make more real money through buying crypto, and that they're not looking to buy x type of criminal thing, even if a small subset of crypto holders are using it for this reason. I also have the impression that the primarily idealistic investors is a similarly small subset. Would love to see data of this, possibly broken down by country/region though.
Yeah agree. Like I said before currency circulation only needs to be a tiny percentage of the industry to keep transactions going. I doubt bitcoins needs to be worth even $100 of the value for that.
As for the ideology focused investment yeah my views are pretty out of date on this actually. Whenever I've read up on crypto it's been to look at the arguments in favour of it rather why anyone would invest in it. Two completely separate things.
One of 3 non decent human beings on a site of 5 people with between 2-3 decent human beings
It's a ponzi scheme and the retail investors (who don't affect the market) are investing purely out of FOMO or to "get rich quick", often because they want to retire early.
fuck I should just sell some of my Pokemon cards, if no one stakes that is what I will have to do - lostaccount
Last edit: 25/06/2022 19:57
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Stroggoz New Zealand. Jun 25 2022 19:57. Posts 5296
On June 25 2022 16:46 Blitzkrieg0 wrote:
Almost all crypto provides zero advantages over USD for buying drugs or any other illegal activities. Monero being privacy focused is the exception. There was a time ten+ years ago when people were using bitcoin for such purposes, but then three letter agencies figured out how to track addresses on the public ledger and it became apparent that it is strictly worse.
If I live in Argentina and inflation is 30 percent does it make sense to trade my cash in for usd dollars, put it in s and p 500 or put it in crypto? Because I couldn't see why crypto was better and that's the reason why Baal said its useful.
One of 3 non decent human beings on a site of 5 people with between 2-3 decent human beings
On June 25 2022 18:56 Loco wrote:
It's a ponzi scheme and the retail investors (who don't affect the market) are investing purely out of FOMO or to "get rich quick", often because they want to retire early.
On June 25 2022 07:58 Liquid`Drone wrote:
ye, crypto isn't even used for buying drugs anymore, now it's purely for speculation. Nobody I know who owns crypto has ever actually bought _anything_ with it. (yes i know latam might differ yadayada )
Bitcoin is in a stage where the price is very unstable, the on-chain blocks are too slow and expensive to be used in most POS applications because its an early stage of the technology, as the marketcrap grows stabilizing price, layers are built upon the blockchain for speedier cheaper transactions and POS applications keep being developed you will see more direct use of crypto, what you are doing is like if in the 80s you saw a credit card and thought "they have to call the bank too see if it has funds, it has comissions, they have to use that swipe thing, its full of fraud, cash is much better", those would be correct but narrowsighted observations.
I kind of look at bitcoin with reflection upon the original idea which is that it would revolutionize banking and the way we transfer money globally avoiding fees and currency conversion. People do use it for that purpose now but it's a bit slow. The whole idea was freedom and independence from banks, but the banks are still ultimately in control of points of exchange and the push for regulation in the US with your ID attached to exchanges/wallets is literal kryptonite. Monero appears to be the frontrunner as far as anonymous ownership (~freedom) and payments / conversion goes, but it also fluctuates and is traded at a price. It is traded at a price - not related to value. The idea of "support levels" and technical analysis is fairy talk without underlying value to calculate legit support levels or real value from. These unproductive "assets" are traded at a price and held by fools, probably one of the largest bubbles we've ever seen. Keep in mind it holds no intrinsic value and 99% of crypto bros are convinced to an almost religious level they've not been hustled, which is a real valid point as many people seem to think their money is safe or that it's worth something in relation to market cap. Imagine being that guy a year ago talking about a hedge against inflation or being Kevin O'Leary who actually believes crypto could ever be listed as part of a major US composite. Market cap DOES NOT apply to bitcoin or any crypto, you can't use that method to value a coin - that is truly a total hustle. The value of the coin is something like this: energy cost to produce + speculative value technology. The cost to produce is something like $6k and for me the speculative value is $0. However, if you think about bitcoin this way you will probably also think there's no reason to really produce coins. I agree, and I think it's dead/overhyped. Maybe something good will come from the freedom side of crypto as a whole should banks become overbearing in terms of requiring biometrics to make payments or gain entry to events etc (digital ID) where instead you could use an anonymous coin/stablecoin that's unregulated but I don't even think that will work out and if you think this is not a shackle being used against you, look at programmable CBDCs and how this can be used to shut your life down entirely.
if poker is dangerous to them i would rank sports betting as a Kodiak grizzly bear who smells blood after you just threw a javelin into his cub - RaiNKhAN
Market capitalization s simply the number of shares x price of share, every single market has a market capitalization, a commodity, a company a currency or anything, it can be under or ovepriced, or be an outright scam, but saying market cap doesnt apply is straight out non-sensical.
Every currency in the world, precious stones, precious metal, store of value etc is a "non productive asset".
Production cost does not determine the value of things, it only sets the minimum price for market viability (if people are not willing to pay what it costs to produce that thing won't get produced), things are valued based on our own collective perception of value, all the luxury market is a perfect proof of this, a Lois Vuitton hand bag doesnt costs thousands to produce, a famous artits paintig price isnt related to the cost of the canvas, diamons or gold are useless yet very valuable for no other reason that we believe they are, so this idea that bitcoin price should be based on the energy usted to produce it is silly, also fwiw most crypto is based on proof of stake that requires virtually no energy to produce.
The reason I say market cap doesn't apply is basically that for the calculation of coin * total available coins to make sense, the coin must inherently have the same approx value as the currently traded price. In crypto just because someone convinced you or you convinced yourself that a coin is worth X amount, doesn't mean that price translates to value stored in the coin. Your value is now stored in the person who sold you the coin's bank account and whatever you can trade it in for eventually is your store of value. Imagine someone bought every bitcoin ever made... would anyone want one? If lots of people tried to sell crypto, it wouldn't take a large % of the total coins to crash the price - only that the selling pressure and lack of buyers causes the price to drop. With a business, you can literally calculate what this intrinsic value is because of it's assets-liabilities and cash flows (productive value) it creates. Because of that, you can use the calculation of share * total shares to get a reasonable idea of the total value to buy the business and see what people value it as... of course there is slippage in either direction if you were to buy it all. With crypto, this doesn't make sense because the intrinsic value is $0, or what people perceive it to be. I know people believe in the technology etc but that's exactly the issue/hustle going on imo because really that is in peoples heads. It's fine if you want to say that crypto is in your opinion worth $60k for example, but it's not backed by anything or defensible really IMO. I said energy used because the person willing to produce the coin is willing to expend Z amount of energy to gain 1 coin, which then makes sense as a tradable technology to be valued at that price IMO... obv the market disagrees
With brands, basically marketing is being used to convince people shelling out a lot of $$$ will elevate their level of class/refinement and they'll pay more for it. Sure, the items are usually nice but as you said way above production value and there's not really a discount by design. It's supposed to be kept rare so the illusion and chase never ends. If you could buy it all, you would likely realise quickly the hit of consumerism and the idea of chasing a perfect material life was all it was. The fact you could buy it and others couldn't tells them you're cooler/higher class than them somewhere in you/their mind(s), and by the way those who are participating in the same delusion act in response, you're pretty much correct.
if poker is dangerous to them i would rank sports betting as a Kodiak grizzly bear who smells blood after you just threw a javelin into his cub - RaiNKhAN
I think btc goes to/or below 15k this year. There are a few reasons for this
For one the low was put in on a weekend. Nobody besides weekend traders have longs from discount of the range. This is quite important.
We still have not broken market structure on the daily.
World news is bearish as hell still- things are getting worse.
The timing factor of historical bear markets. Its been too fast so far this should drag out months still.
Major institution liquidations below.
As a neutral I really don't understand all the negativity towards bitcoin as an investment. Facts speak louder than words and so far, despite this recent drawdown bitcoin is still around 13000% return from it's low (at least from what I can see in Tradingview) so it has been and continues to be a good investment. Perhaps it does get ahead of itself easily thus the volatility, and it's obviously not perfect with many risks involved, but I don't think anyone can deny that it has seen growing adoption as the years went by. From big investing firms to ETF creations to big companies buying and adopting bitcoin or cryptocurrencies in one way or the other, and regulations coming. I personally still don't see or understand it or it's value, hence why I wouldn't personally invest heavily into it. I don't think it will revolutionize the world like the internet for example, and even that one had the famous dot com bust. I will just enjoy the show
On June 27 2022 02:46 locoo wrote:
As a neutral I really don't understand all the negativity towards bitcoin as an investment. Facts speak louder than words and so far, despite this recent drawdown bitcoin is still around 13000% return from it's low (at least from what I can see in Tradingview) so it has been and continues to be a good investment. Perhaps it does get ahead of itself easily thus the volatility, and it's obviously not perfect with many risks involved, but I don't think anyone can deny that it has seen growing adoption as the years went by. From big investing firms to ETF creations to big companies buying and adopting bitcoin or cryptocurrencies in one way or the other, and regulations coming. I personally still don't see or understand it or it's value, hence why I wouldn't personally invest heavily into it. I don't think it will revolutionize the world like the internet for example, and even that one had the famous dot com bust. I will just enjoy the show
Its a bigger instance of the Fry Festival hoax, we all gloated in the dumb rich kids suffering and dissapointment, with Bitcoin many ppl think we didn't earn or deserve whatever money we made, so watching these "undeserving" people lose is not only schadenfraude, it feels like justice. Also many in their minds missed the opportunity since they've heard about BTC when the price was lower, so if it tanks it's not only justice but it also aliviates the feeling of missed opportunity.
The internet isn't just one thing but things being built upon things so its not really comparable to blockchain, however the decentralization blockchain provides will change many things in our lives in the future.
You can make the exact same argument for those startups that went busto during the dotcom bubble or any Ponzi scheme. There's always "opportunities" when you're in the right place at the right time. It doesn't take away from the underlying bullshit, and the fact that it's rigged for a small percent of people to make a lot of money from. The average retail investor doesn't make much from crypto, and they stand to lose a lot because they are in the dark. They don't know what they are investing in and it's manipulated by the big players that move the markets.
It's not just the rich kids losing money. The rich kids usually are not strongly affected by market crashes, even if they lose more in absolute terms, the money they have invested isn't money they have made from blood, sweat and tears, and it's not going to be lifechanging losses. It's the overly-optimistic small investors who worked all their lives and thought they could manage to pay their mortgage or retire a bit more quickly that get caught and other random people whose quality of life can degrade from the volatility of these investments. That is the argument against. However much bitcoin is up is irrelevant results-oriented thinking, there are always people who have invested a lot recently hoping it was gonna keep going up and an enormous amount of "HODL" nonsense online to encourage them to stick to their investments. If there is a multi-year recession on the way, their life plans have to be altered dramatically. And as is the nature of every bubble, it can be profitable until it pops, but that it pops is inevitable.
I don't think that respectable investors with a strong track record like Michael Burray's issue with crypto can be resumed as "schadenfreude from having missed the boat" or any such silly thing. It's about understanding value and risk and taking it seriously. It's not taking value seriously to say "things are valuable as we perceive them to be". That is the least nuanced take on investments you can possibly have. We live in a culture when we want instant-everything, and the price to pay for some people to have their wishes fulfilled is that other people's lives are destroyed on the other end, and that society as a whole is more easily destabilized because of the gamblers controlling/dictating the economy. Regardless of the potential of the technology behind it, it's not a good thing if it's not adopted towards more noble aims than competitive gambling, and that's why people with a more ethical outlook like our own genjix got the hell out of there.
fuck I should just sell some of my Pokemon cards, if no one stakes that is what I will have to do - lostaccount
Btw I was reading a book recently on the subject of the broad impacts of the internet on human life, and a good part of it was on internet addiction, and there was a part in there about gambling addictions. The author cited studies that showed that it's a lot easier for people to develop gambling addictions online, and they are easier to fuel than offline addictions. We're talking about people who are irrationally gambling away all of their money and they can't help themselves having constant access to this possibility without having to get out of the house. Crypto no doubt plays a role in this. My ex-girlfriend's father actually gambled away all of his family's lifesavings around the time that the pandemic hit. He worked a good job in Silicon Valley and had a couple millions, slowly accumulated this money all his life (Asian immigrant) and probably had a reasonable investment strategy up until his 60s until he made a few bad decisions, took too much risk and then started chasing his losses until he had literally nothing left. Our systems make it easy for such things to happen in a flash and it's very sad.
fuck I should just sell some of my Pokemon cards, if no one stakes that is what I will have to do - lostaccount
On June 28 2022 04:17 Loco wrote:
You can make the exact same argument for those startups that went busto during the dotcom bubble or any Ponzi scheme. There's always "opportunities" when you're in the right place at the right time. It doesn't take away from the underlying bullshit, and the fact that it's rigged for a small percent of people to make a lot of money from. The average retail investor doesn't make much from crypto, and they stand to lose a lot because they are in the dark. They don't know what they are investing in and it's manipulated by the big players that move the markets.
Disagree, direclty buying stocks isn't a realistic option for 90% of the population unlike Bitcoin where a lot of ppl heard about it or has a friend who made money with it etc, so that gloating when it fails is on a different scale.
How is bitcion rigged against retail? almost everyone I know who became rich of crypto was a retail investor myself included, sure big players can manipulate the market and that wrecks retail traders wich is a 0 sum game like poker where the better player wins, unlike long term value investing which is what I'd advise anyone getting into crypto, not margin trading small marketcap altcoins lol.
It's not just the rich kids losing money. The rich kids usually are not strongly affected by market crashes, even if they lose more in absolute terms, the money they have invested isn't money they have made from blood, sweat and tears, and it's not going to be lifechanging losses. It's the overly-optimistic small investors who worked all their lives and thought they could manage to pay their mortgage or retire a bit more quickly that get caught and other random people whose quality of life can degrade from the volatility of these investments. That is the argument against. However much bitcoin is up is irrelevant results-oriented thinking, there are always people who have invested a lot recently hoping it was gonna keep going up and an enormous amount of "HODL" nonsense online to encourage them to stick to their investments. If there is a multi-year recession on the way, their life plans have to be altered dramatically. And as is the nature of every bubble, it can be profitable until it pops, but that it pops is inevitable.
I said rich kinds becasue of the fyre festival not because of crypto, "HODL" isn't nonsense, its the way value oriented restail investors should approach not only crypto but investments in general, if you buy hypes and sells panics you are going to get a bad time. "that a bubble pops is inevitable" means nothing first you have to establish something is actually a bubble, is Tesla a bubble? is Amazon? are bio-tech stocks? is the current Oil price action a bubble? They might or not its hard to say and very knowledgable ppl get it wrong, imagine the weight of the opinion of somebody with no knowledge at all on the subject.
I don't think that respectable investors with a strong track record like Michael Burray's issue with crypto can be resumed as "schadenfreude from having missed the boat" or any such silly thing. It's about understanding value and risk and taking it seriously. It's not taking value seriously to say "things are valuable as we perceive them to be". That is the least nuanced take on investments you can possibly have. We live in a culture when we want instant-everything, and the price to pay for some people to have their wishes fulfilled is that other people's lives are destroyed on the other end, and that society as a whole is more easily destabilized because of the gamblers controlling/dictating the economy. Regardless of the potential of the technology behind it, it's not a good thing if it's not adopted towards more noble aims than competitive gambling, and that's why people with a more ethical outlook like our own genjix got the hell out of there.
And Burry thought TSLA was a bubble, shorted it and had to close his short at a huge loss, turns out traders are often wrong, good ones are wrong slightly less than they are right, as an ex-poker player you should know this very well, I could go into particulars like Burry turning a perma-bear after 08, or Buffet being an octagenarian banker, but there really is no point, there are many investors and traders on both sides each one with their own particular research, biases, ideas etc but my point was about missed opportunity and undeserved wealth was about regular people not about investors obviously, I dont think a professional trader is bitter that their neightbor has "undeserved" money, but regular people do often think like that.
Ex-PokerStars Team Pro Online
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Stroggoz New Zealand. Jun 28 2022 14:55. Posts 5296
On June 27 2022 02:46 locoo wrote:
Facts speak louder than words and so far, despite this recent drawdown bitcoin is still around 13000% return from it's low (at least from what I can see in Tradingview) so it has been and continues to be a good investment.
How is that a good reason for investing in anything? There's no EV argument given here, and the same logic can be used to invest in Enron or any other company that went up about 10,000% then went to 0% the next year. I genuinely hope your not using this kind of reasoning to do your swing trading.
On June 27 2022 02:46 locoo wrote:
I personally still don't see or understand it or it's value, hence why I wouldn't personally invest heavily into it.
It's a good investment that you wouldn't heavily invest into?
One of 3 non decent human beings on a site of 5 people with between 2-3 decent human beings
Last edit: 28/06/2022 16:05
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Stroggoz New Zealand. Jun 28 2022 15:38. Posts 5296
On June 26 2022 01:50 ggplz wrote:
I kind of look at bitcoin with reflection upon the original idea which is that it would revolutionize banking and the way we transfer money globally avoiding fees and currency conversion. People do use it for that purpose now but it's a bit slow. The whole idea was freedom and independence from banks, but the banks are still ultimately in control of points of exchange and the push for regulation in the US with your ID attached to exchanges/wallets is literal kryptonite.
This gives me the impression that many people do not really understand why the banking system is evil. It is evil because they have taken control of industry and people, and turned them into peons. Banks are the reason why Boeing makes planes that crash or why there is so much clickbait in the media. It can be to service corporate debt payments, or because of the focus on quarterly profits. Banks are also the reason why many students pick majors in things they don't like, or why they gets jobs they hate. That's what interest rates on high student debt does.
The other reason that banks are evil is that they will give credit only to the most profitable industries. Many of those industries are actively destroying the world.
I'm not sure what cutting out fee's would do to the banking industry, but the monopolistic banks make a greater share of their profits from cheap access to credit. There's no way JP-morgan will go under no matter what they do, so they are reliable to loan to, and that alone gives them an extreme advantage over smaller banks. Some form of banking industry needs to exist so industry gets it's credit from somewhere, but the banking system now is basically like a parasite feeding off the real economy. It's sucked the creativity and individualism from people, which is the opposite of what a real banking system is supposed to do. It's supposed to give out loans to creative people who make better solar panels or electric jet turbines or w/e it is that will move society forward.
One of 3 non decent human beings on a site of 5 people with between 2-3 decent human beings
The fractal is just an idea that has been spot on since april. The guy is an amazing trader actually has some terms named after him
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Ryan Neilly United States. Jul 06 2022 01:44. Posts 1631
On July 05 2022 16:31 lostaccount wrote:
ill probably rebuy some at 16k
i believe 16,5k!
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Ryan Neilly United States. Jul 06 2022 01:45. Posts 1631
On July 02 2022 15:02 lostaccount wrote:
war is brewing in europe china us economy is crumbing.
news makes it look worse than it is, don't worry, ADA already proved we can use anything, whatever they do, just makes cryptos more bullish in futures !
there is about, at minimum, 5 valid tools big traders use that points 15 and under...pretty much any proper method points it there... obviously it doesnt have to go there but its pretty fin likely
also btc will probably get a decent pump before that leg down
with yesterdays dump, however, in next few days 16kish area is quite likely .... but btc can pump to 30-40 and the sub 15 leg is still very valid
On November 09 2022 00:22 CamilaPunt wrote:
Dangerous times as apparently ftx is not the only exchange in trouble
We still have cpi thursday too
So bearish everything gosh darn tootins
wich other CEX in trouble?
- OKX
- Binance
- KuCoin
- Polonix
- Huobi
those and 2 more will do a proof of reserves soon.
idk sam bullshiter commented that
but i would only consider binance safe haha
if your roll is in binance, i wouldnt even bother sending to cold wallet cause if binance goes down crypto goes to zero anyways--- and its a problem we rely on binance so hard
ponzi bs man
a guy i super respect wrote this on whether bottom is ins
The issue is that if corporations and bigger investors believe the bottom is in they will continue purchasing now before next year the idea behind curbing inflation is you halt purchases and you halt investing this is done so that the economy can bring prices down because there’s a lack of market participant a market rally is very much not wanted and I would even go as far as to say that we see these rallies to absolutely decimate everybody long to continually press the point that we’re in a recession I would be looking for a major retrace not right away but definitely over the next month
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blackjacki2 United States. Nov 11 2022 22:06. Posts 2581
As someone that has never dabbled in crypto in my life what's the easiest way I can throw some money at this? Can I buy ETH/BTC through eTrade or Fidelity? Or do I need a "wallet" or whatever?
Haven't skimmed through the 18 pages or however many pages it's been since I was last here. Didn't actually have funds locked up in FTX so I avoided this disaster unlike luna, but this is easily the worst thing that's ever happened in crypto. The contagion from FTX insolvency will unfold over the next 6-9 months: hedge funds going bankrupt, lending companies going bankrupt, the people that need to sell due to their money being locked elsewhere....
I think on a 2-3 year time horizon, the big winners from this will be BTC, ETH, UNI, and potentially privacy coins (but I'm a little scared about regulation of them). But on a shorter horizon...fuck our lives. I'll probably just sell a significant amount of what I have, reduce exposure to crypto to like 15%, and start thinking about potentially buying mid next year.
NewbSaibot: 18 TIMES THE SPEED OF LIGHT. Because FUCK YOU, Daut
As CamilaPunt said you could throw some money on an exchange (like Binance since Binance "won". You could just keep it there but that would be holding value on an exchange which is kind of stupid. The next step to actually HODLing BTC/ETH would be to get a wallet. Call me old fashioned but I always liked a Trezor Wallet. There is some chance of losing the seed phrases and wallet but it's probably pretty low if care is taken. So, it's basically what are the odds of the exchange going insolvent and not being able to get your funds versus keeping seed phrases safe. I will say with the wallet there are times I wonder about the house burning down or what if recovery doesn't work? I have been burned by poker sites in the past and FTX is no different. So, is it true that if Binance goes insolvent crypto would go to zero? HODLing in Binance would save you x% and then another 2 x%s if you want to cash out to a bank vs a wallet.
eTrade or Fidelity might offer some way to invest in BTC/ETH but you wouldn't actually HODL BTC/ETH. For me, something feels a bit wrong about going through centralized powers to invest in BTC/ETH but it may actually be a better / safer investment.
I'm sure someone on here can update this. Specifically, the best wallet to use these days and going to JP Morgan Chase to invest in a decentralized entity.
On November 12 2022 01:48 Daut wrote:
Been a while guys.
Haven't skimmed through the 18 pages or however many pages it's been since I was last here. Didn't actually have funds locked up in FTX so I avoided this disaster unlike luna, but this is easily the worst thing that's ever happened in crypto. The contagion from FTX insolvency will unfold over the next 6-9 months: hedge funds going bankrupt, lending companies going bankrupt, the people that need to sell due to their money being locked elsewhere....
I think on a 2-3 year time horizon, the big winners from this will be BTC, ETH, UNI, and potentially privacy coins (but I'm a little scared about regulation of them). But on a shorter horizon...fuck our lives. I'll probably just sell a significant amount of what I have, reduce exposure to crypto to like 15%, and start thinking about potentially buying mid next year.
Same here, dodged this bullet unlike luna, I'm not sure if its the worst thing to happen to crypto, publicity wise certanly, but its likely the Luna/UST collapse was a catalyst for Alameda's fall just like 3AC, a few people like Timex saw right through SBF for what he really was, a cynical value extractor that in fact tried to regulate a monopoly for himself soi good riddance.
I'm not sure if its the copium talking but I'm glad this bear market burned so many parasites, these influencer billionares, seed round VCs that dumped into retail and CEXEs while they onboard institutional money into crypyto and pump my bags like crazy they are the antithesis of what crypto should be, and now more than ever I realize how important crypto is, in a soon cash-less world there are two futures, one of absolute surveillance and state control and one of financial freedom through crypto, the first one scares the shit out of me, I mean even a moderate like Trudeau froze all the accounts donating to the trucker protests, imagine handing 100x this finantial power to all the authoritarians and corrupt governments in the world, and dont think of the US/EU but the rest of the world governments that are more heinous that you could possibly imagine.
I feel one 'indicator' to look at amongst others is that alts have to burn a lot before we are close to a true bottom
look at the TOTAL 3 graph... currently sits at 300billion +
we have to go sub 100
and a bunch of ponzi coins die
alts holding up well so far is worrisome
it happened the same last bear market--- people would say 'oh no alts are independent and strong now' and whatnot bs, but no, they have to go 99% of them are essentially ponzi schemes
FTX was a black swan event but i dont think its the last or largest event we will see in this bear market
You guys gotta be joking. You can't be selling now after we dumped 80% from the top. This is time to accumulate. Sell it all to me. Bring on eth below 1k, goes straight into my wallet
On November 12 2022 14:25 CamilaPunt wrote:
really sucks fellas... this year has been harsh
I feel one 'indicator' to look at amongst others is that alts have to burn a lot before we are close to a true bottom
look at the TOTAL 3 graph... currently sits at 300billion +
we have to go sub 100
and a bunch of ponzi coins die
alts holding up well so far is worrisome
it happened the same last bear market--- people would say 'oh no alts are independent and strong now' and whatnot bs, but no, they have to go 99% of them are essentially ponzi schemes
FTX was a black swan event but i dont think its the last or largest event we will see in this bear market
I agree with you about the alts
but
it's been a while since I read Black Swan but I don't think FTX qualifies.
Also, if Vitalik ever comes up sullied I'll be sad. I've been watching a lot of interviews with him recently and it feels like he has the keys to a better future for humans.
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Stroggoz New Zealand. Nov 13 2022 23:25. Posts 5296
On November 13 2022 04:17 RiKD wrote:
Also, maybe this derails things a bit but what is the deal with people who are very proud about being effective altruists?
Of course I want things to be founded in reason but always seemed dicey to me.
Humans are going to human I guess.
Because most effective altruists only focus on individual solutions, which means they arn't effective altruists. People obviously don't learn in their history class that pretty much any thing that made the world better long term was with politics.
If you look at say, the plan to plant 1 trillion tree's, that a bunch of billionaires said they'd support in 2020. It all turned out to be a fraud, they didn't follow through with it. But if they did, it's a pretty inefficient way to deal with climate change. The far more efficient way would be to stop people from cutting trees down, for one example. You could price farmers in so cutting trees down isn't in their self interest. Even the rich people like bill gates are not being smart with their effective altruism choices, according to climate experts.
One of 3 non decent human beings on a site of 5 people with between 2-3 decent human beings
Also, the fact that it is some form of profiting in McDonald's stock among other hypocritical choices to gloat about planting trees and then not and not even mentioning not cutting down trees is so Bill Gates energy. I'll have to check how that whole "Giving Pledge" thing is going. Ray Dalio... all those fuckers... I would bet that SBF stole the $10 billion or whatever it was because he thought he could put better use to the money. I have always been leery of "Effective Altruists TM." I'm also skeptical of politicians though. Someone said he'd rather have Donald Trump or Joe Biden's ass leading us through the muck than SBF. Perhaps they were not wrong.
On November 12 2022 14:25 CamilaPunt wrote:
really sucks fellas... this year has been harsh
I feel one 'indicator' to look at amongst others is that alts have to burn a lot before we are close to a true bottom
look at the TOTAL 3 graph... currently sits at 300billion +
we have to go sub 100
and a bunch of ponzi coins die
alts holding up well so far is worrisome
it happened the same last bear market--- people would say 'oh no alts are independent and strong now' and whatnot bs, but no, they have to go 99% of them are essentially ponzi schemes
FTX was a black swan event but i dont think its the last or largest event we will see in this bear market
FTX isnt a black swan and obviously is the largest event we will see in this bear market since its probably one if not the biggest even in crypto, unless you think Binance/Tether will go down in which case we will see 3k BTC lol
On November 13 2022 02:08 spets1 wrote:
You guys gotta be joking. You can't be selling now after we dumped 80% from the top. This is time to accumulate. Sell it all to me. Bring on eth below 1k, goes straight into my wallet
Werent sellinlg prior FTX, felt good holding 20k but now things have changed for the worst, the world economy seems bad, I dont see many scenarios where we go into a bull market in a near future, seems reasonable to pull out and re-entry at even lower prices.
I cashed about half my crypto and I plan to rebuy at 14ish or eat a loss at 21k ish
Yeah, cash out and buy toys to try and increase happiness but realize that is futile and then have to work more to compensate. sick life... Pay an escort to be my "girlfriend." Never tried that before. I imagine Baal to have a pretty dece social life. That is worth more than money. It is a good question on where to put money for the next 6 months? Not that I have that much skin in that game as I live paycheck to paycheck with a dece emergency fund and an under performing 401k... I'll get out and gamble if the timing is right.
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Stroggoz New Zealand. Nov 14 2022 07:03. Posts 5296
On November 14 2022 02:20 RiKD wrote:
Also, the fact that it is some form of profiting in McDonald's stock among other hypocritical choices to gloat about planting trees and then not and not even mentioning not cutting down trees is so Bill Gates energy. I'll have to check how that whole "Giving Pledge" thing is going. Ray Dalio... all those fuckers... I would bet that SBF stole the $10 billion or whatever it was because he thought he could put better use to the money. I have always been leery of "Effective Altruists TM." I'm also skeptical of politicians though. Someone said he'd rather have Donald Trump or Joe Biden's ass leading us through the muck than SBF. Perhaps they were not wrong.
The only people who really put any serious effort into the tree-planting program were the public in Pakistan. Any plan to deal with ecology in an optimized way would need input from thousands of people, at the very least. Rich people mostly will choose to ignore these optimized plans because they go against their self-interest, and because they don't pay attention to them.
One of 3 non decent human beings on a site of 5 people with between 2-3 decent human beings
On November 12 2022 14:25 CamilaPunt wrote:
really sucks fellas... this year has been harsh
I feel one 'indicator' to look at amongst others is that alts have to burn a lot before we are close to a true bottom
look at the TOTAL 3 graph... currently sits at 300billion +
we have to go sub 100
and a bunch of ponzi coins die
alts holding up well so far is worrisome
it happened the same last bear market--- people would say 'oh no alts are independent and strong now' and whatnot bs, but no, they have to go 99% of them are essentially ponzi schemes
FTX was a black swan event but i dont think its the last or largest event we will see in this bear market
FTX isnt a black swan and obviously is the largest event we will see in this bear market since its probably one if not the biggest even in crypto, unless you think Binance/Tether will go down in which case we will see 3k BTC lol
it fits the definition but anyways my point is its a really big event.
On November 13 2022 02:08 spets1 wrote:
You guys gotta be joking. You can't be selling now after we dumped 80% from the top. This is time to accumulate. Sell it all to me. Bring on eth below 1k, goes straight into my wallet
Werent sellinlg prior FTX, felt good holding 20k but now things have changed for the worst, the world economy seems bad, I dont see many scenarios where we go into a bull market in a near future, seems reasonable to pull out and re-entry at even lower prices.
I cashed about half my crypto and I plan to rebuy at 14ish or eat a loss at 21k ish
On November 13 2022 02:08 spets1 wrote:
You guys gotta be joking. You can't be selling now after we dumped 80% from the top. This is time to accumulate. Sell it all to me. Bring on eth below 1k, goes straight into my wallet
Werent sellinlg prior FTX, felt good holding 20k but now things have changed for the worst, the world economy seems bad, I dont see many scenarios where we go into a bull market in a near future, seems reasonable to pull out and re-entry at even lower prices.
I cashed about half my crypto and I plan to rebuy at 14ish or eat a loss at 21k ish
It may work out or may not. We will definitely know soon enough. I'm not selling, only accumulating if we go below 1k on eth. Even though the markets outlook are recession, crypto may have a rocket up any time.
This was a black swan event, as you said it looked good prior the FTX dump. We can go down more if we have ripple effects in the next few weeks with other exchanges, etc having to forced sell. But risk to reward is in favour of bulls here. Especially with pretty much everyone being so bearish on social media and msm
On November 13 2022 02:08 spets1 wrote:
You guys gotta be joking. You can't be selling now after we dumped 80% from the top. This is time to accumulate. Sell it all to me. Bring on eth below 1k, goes straight into my wallet
Werent sellinlg prior FTX, felt good holding 20k but now things have changed for the worst, the world economy seems bad, I dont see many scenarios where we go into a bull market in a near future, seems reasonable to pull out and re-entry at even lower prices.
I cashed about half my crypto and I plan to rebuy at 14ish or eat a loss at 21k ish
selling here is rough
being forced to sell or getting out is rough, selling o re-entry at other low/hight points is reasonable at pretty much any price
The NYT wrote a puff piece not mentioning fraud or crime about SBF... It's fucking happening boys, the biggest financial crimes in the last 14 years and he is going to walk because he is the biggest 2nd donor to the dems...
Ex-PokerStars Team Pro Online
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Stroggoz New Zealand. Nov 15 2022 11:03. Posts 5296
On November 15 2022 03:46 Baalim wrote:
The NYT wrote a puff piece not mentioning fraud or crime about SBF... It's fucking happening boys, the biggest financial crimes in the last 14 years and he is going to walk because he is the biggest 2nd donor to the dems...
Seems to me like he was successful in giving his fortune all away, lmao.
One of 3 non decent human beings on a site of 5 people with between 2-3 decent human beings
I remember 94 was the 1st one i got to enjoy and brazil won which was great. I also remember a game where colombia defender scored own goal and everyone watching jokingly said that guy is gonna die.
On November 13 2022 02:08 spets1 wrote:
You guys gotta be joking. You can't be selling now after we dumped 80% from the top. This is time to accumulate. Sell it all to me. Bring on eth below 1k, goes straight into my wallet
Werent sellinlg prior FTX, felt good holding 20k but now things have changed for the worst, the world economy seems bad, I dont see many scenarios where we go into a bull market in a near future, seems reasonable to pull out and re-entry at even lower prices.
I cashed about half my crypto and I plan to rebuy at 14ish or eat a loss at 21k ish
Somewhat this for me as well, was comfy mostly holding until FTX collapse. We have a child due in a month, I'm buying a house (with cash, interest rates are lol), there could be unexpected fallout/contagion from this, and I don't see any impetus for a new bull market for either stocks or crypto starting before next summer. I also don't see many bottom signals -- peak apathy is usually the time to buy. It's not like we are going to V shape recovery off this, we could see a year end bounce with stocks rising q4, but I just don't see how we even 2x from here, risk/reward isn't great right now in the 6-9 month time frames (although quite good on a longer horizon, 2024 should be a massively bullish year with an election year and a likely republican president that will probably look to make a mark on economy, a bitcoin halving, and planned QE).
Reduced to roughly 20% NW in crypto, will ride it out with the rest, and probably look to fire the USDC I have still working in defi into btc/eth/uni sometime early next year when things look bleak/dead.
NewbSaibot: 18 TIMES THE SPEED OF LIGHT. Because FUCK YOU, Daut
Yea, I do think houses will drop quite a bit, was not planning to buy, but found the absolute perfect house in the perfect area and felt it was better to pull trigger than to wait til next year when they probably bottom. Basically, think I paid 25% less than I would have in March, 10% less than I would have in July, and a smaller comp sold in September for 3% more than mine did. I don't mind buying now when we need it with an expanding family and a lease ending.
Optimal time to buy should be mid to late 2023, I can nearly guarantee there are better deals available then, but I could not guarantee there would be better houses suited for us available, so I didn't care too much about paying 15-20% more than I might be able to next summer for the perfect house. and maybe ill buy a second house next summer if that's the case and it drops even more than expected, but wanted a primary stable home for us. I look at it more like, im buying the exact place i want, it will age well over a longer stretch of time, ideally it's the place we live for the entirety of our children's lives before college, and you can't live inside a blockchain so I don't care about firing early.
NewbSaibot: 18 TIMES THE SPEED OF LIGHT. Because FUCK YOU, Daut
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Liquid`Drone Norway. Nov 16 2022 11:19. Posts 3093
Congrats on fatherhood! I got a kid 6 months ago and we just got the keys to our new house yesterday - it definitely feels like a phase where I'd prioritize safety and stability over +ev.
We were absurdly lucky selling our apartment. We bought in a seller's market and sold in a buyer's market but still broke even, at the same time I'm seeing apartments that are almost identical to ours sold at the same time as ours going for 20% less than ours.
Congrats on the kiddos guys. At the very least it will give you something to do with your time. Love seems to be a pretty powerful entity in this existence too.
I want to talk about self-custody though. Self-custody is hard.
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">Self custody test #2: Put your phone down and pretend that it, your PC and every single thing in your home / office is destroyed. Now retrieve your coins. Remember - no use of your phone or anything from your home - no paper, notes, nothing.</p>— Bruce Fenton ???????? (@brucefenton) <a href="
On November 15 2022 19:42 Daut wrote:
Yea, I do think houses will drop quite a bit, was not planning to buy, but found the absolute perfect house in the perfect area and felt it was better to pull trigger than to wait til next year when they probably bottom. Basically, think I paid 25% less than I would have in March, 10% less than I would have in July, and a smaller comp sold in September for 3% more than mine did. I don't mind buying now when we need it with an expanding family and a lease ending.
Optimal time to buy should be mid to late 2023, I can nearly guarantee there are better deals available then, but I could not guarantee there would be better houses suited for us available, so I didn't care too much about paying 15-20% more than I might be able to next summer for the perfect house. and maybe ill buy a second house next summer if that's the case and it drops even more than expected, but wanted a primary stable home for us. I look at it more like, im buying the exact place i want, it will age well over a longer stretch of time, ideally it's the place we live for the entirety of our children's lives before college, and you can't live inside a blockchain so I don't care about firing early.
Congrats on the new house & baby
if poker is dangerous to them i would rank sports betting as a Kodiak grizzly bear who smells blood after you just threw a javelin into his cub - RaiNKhAN
PS I think u guys are crazy for HODLing BTC/crypto, I wouldn't keep a single coin personally!
if poker is dangerous to them i would rank sports betting as a Kodiak grizzly bear who smells blood after you just threw a javelin into his cub - RaiNKhAN
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PuertoRican United States. Nov 21 2022 05:06. Posts 13044
United States. Dec 17 2020 23:54. Posts 8955
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