Cryptocurrency - a few tips from an old hand

[THEfightsAREfixed]

Welcome to 2013-2015

bitcoin gonna bitcoin

 

[MTT]

Pure gambling? Fugazy? You can make money if it goes up or down. It's a boom and bust marketplace. This bear market is par for the course. Each previous collapse was followed by a boom which surpassed the previous all-time high. We're barely entering capitulation at this point. Support @ 3500, 2800, and 1900. For the people pretending to know what bitcoin is - why don't you short it if you're confident it's going to zero? I've been accumulating shorts since 13k. I will be going long "at some point". It seems like a lot of people buy the top and sell the bottom then rant about a bitcoin ponzi.

 

[Omegaboy13]

Thanks for taking the time to craft a...bluntly put.... non-retarded response. Interesting reading mate, thanks - and a relief to engage someone with a seemingly higher IQ than a farm vegetable (I mean that sincerely).

Here's the thing though - and I quote - ''Petrodollars are the primary source of government revenue in many Middle Eastern countries that are net exporters of oil. Simply put, petrodollars are oil revenues denominated in U.S. dollars. Because petrodollars are denominated in U.S. dollars, the true purchasing powering of them are reliant on both the core rate of U.S. inflation and the value of the U.S. dollar.''

So what these sources state is - the petrodollar is what denominates OPEC oil revenue, and is in itself reliant on the value of the US dollar.

So the US dollar is not simply backed by OPEC oil, it is the other way around. Since the removal of gold backing in 1971, the only thing backing the US dollar is the government and collective trust.

https://www.investopedia.com/terms/p/petrodollars.asp

Furthermore, being the denomination currency for OPEC oil actually introduces serious liquidity and systemic risks for the US dollar as a currency going forward because of the forced reserve requirement deficits the US is obligated to run -

'..if the persistent deficits continue ad infinitum, eventually, foreign countries will begin to doubt the valuation of the dollar, and the greenback may lose its role as the reserve currency. This is known as the Triffin Dilemma.'

Read more: How Petrodollars Affect The U.S. Dollar | Investopedia https://www.investopedia.com/articl...trodollars-affect-us-dollar.asp#ixzz5XONbpBSj
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Lol. “I’m now an expert at this even though I just found out about its existence. Also anything that doesn’t support my contorted reality is wrong.”

 

[POWER2]

Pure gambling? Fugazy? You can make money if it goes up or down. It's a boom and bust marketplace. This bear market is par for the course. Each previous collapse was followed by a boom which surpassed the previous all-time high. We're barely entering capitulation at this point. Support @ 3500, 2800, and 1900. For the people pretending to know what bitcoin is - why don't you short it if you're confident it's going to zero? I've been accumulating shorts since 13k. I will be going long "at some point". It seems like a lot of people buy the top and sell the bottom then rant about a bitcoin ponzi.

The growth is fueled by speculators telling other speculators "but look how it's grown since it was introduced." Whether purposeful or accidental, your response is THE standard Ponzi response.

"If it was a scam would it be worth this much?" It's always worth something so long as you can get more people to sink money in to it. It doesn't have any worth. It can truly be used universally as currency. You can't go to a metals miner and say "sell me $300million in iron, so I can build tools for Home Depot, oh yeah, and I'm paying by Bitcoin over our 2 year contract." It's worth isn't attached directly to any economy. It's a speculator's game.

And so long as a really wealthy guy somewhere has you on the internet telling other people they ought to buy, it will remain, but eventually a lot of people will want to cash out, maybe because their local economy is crap and they've lost their jobs, or because the bulk of bitcoin holders will reach retirement age and that's when the trouble will start.

 

[THEfightsAREfixed]

The growth is fueled by speculators telling other speculators "but look how it's grown since it was introduced." Whether purposeful or accidental, your response is THE standard Ponzi response.

"If it was a scam would it be worth this much?" It's always worth something so long as you can get more people to sink money in to it. It doesn't have any worth. It can truly be used universally as currency. You can't go to a metals miner and say "sell me $300million in iron, so I can build tools for Home Depot, oh yeah, and I'm paying by Bitcoin over our 2 year contract." It's worth isn't attached directly to any economy. It's a speculator's game.

And so long as a really wealthy guy somewhere has you on the internet telling other people they ought to buy, it will remain, but eventually a lot of people will want to cash out, maybe because their local economy is crap and they've lost their jobs, or because the bulk of bitcoin holders will reach retirement age and that's when the trouble will start.

So what you mean is you have no idea what you are talking about

 

[MTT]

The growth is fueled by speculators telling other speculators "but look how it's grown since it was introduced." Whether purposeful or accidental, your response is THE standard Ponzi response.

"If it was a scam would it be worth this much?" It's always worth something so long as you can get more people to sink money in to it. It doesn't have any worth. It can truly be used universally as currency. You can't go to a metals miner and say "sell me $300million in iron, so I can build tools for Home Depot, oh yeah, and I'm paying by Bitcoin over our 2 year contract." It's worth isn't attached directly to any economy. It's a speculator's game.

And so long as a really wealthy guy somewhere has you on the internet telling other people they ought to buy, it will remain, but eventually a lot of people will want to cash out, maybe because their local economy is crap and they've lost their jobs, or because the bulk of bitcoin holders will reach retirement age and that's when the trouble will start.

Bitcoin cannot be defined as a ponzi scheme. Pointing out the truth - that every crash is followed by a boom is not "the standard ponzi response". It is pointing out a historical fact one can observe when looking at a chart.. nothing more. Anything in a market can go to zero. Bitcoin can be supplanted by better tech but as of the last 8 years, it is #1 in the space. It also has real value. To be clear, I am not a bitcoin maximalist. I am more a fan of what Ripple (XRP) is attempting to do with their product line up. While bitcoin remains on the throne, I will continue to make USD via bitcoin as it goes up or down. “Everything is worth what its purchaser will pay for it”.

Do you have any experience in finance? As I previously asked - why don't you short bitcoin into the ground alongside Bill Gates and Warren Buffet? Register an account on BitMex and short the ponzi. It is interesting that so many in this thread pop in when btc becomes volatile to the downside but won't put skin in the game. You're completely confident this is a ponzi that is going to zero yet won't short it and make a killing in fiat. Why is that? You can short it right here and buy a mansion when it hits zero with little investment.

 

[Deleted member 409801]

One of my friends recently bought at 8200 Canadian up here. He smugly talked down to me for weeks saying to me "What, are you not an investor"

It's now at 5700 Canadian. I tried explaining to him several times about how Crypto is not some sound investment idea and he laughed at me.

It's pure gambling.

A good buddy of mine bought half a BC at or around its peak . Granted , not a huge amount of money .......8 or 10k I guess , but he's just a blue collar guy with 3 kids to feed. I just feel bad for all the low info , Johnny come lately buy on the news types that are getting burnt.

 

[Revolver]

Lmao @ these bitcoin white knights.

 

[MTT]

A good buddy of mine bought half a BC at or around its peak . Granted , not a huge amount of money .......8 or 10k I guess , but he's just a blue collar guy with 3 kids to feed. I just feel bad for all the low info , Johnny come lately buy on the news types that are getting burnt.

The masses want in on a bull run. When news reaches a fever pitch, the smart money take their profit and the stupid money get eviscerated. That is how every market functions. Rinse and repeat.

 

[Sketch]

Lmao @ these bitcoin white knights.

They are such idiots lol

 

[Sketch]

A good buddy of mine bought half a BC at or around its peak . Granted , not a huge amount of money .......8 or 10k I guess , but he's just a blue collar guy with 3 kids to feed. I just feel bad for all the low info , Johnny come lately buy on the news types that are getting burnt.

My friend that I described, made that 5k from a side job. He's an accomplished electrician. I feel bad for him. 5k Wasted.

Mind you, he did the job quick, in like a weekend and overcharged like all tradesman do.

 

[MTT]

People shouldn't be "investing" in btc or crude for example. There are many marketplaces with superior risk profiles for the average investor planning for retirement.

 

[Nik123]

So what you mean is you have no idea what you are talking about

Lol of course he doesn't, we're talking borderline retarded level here. Proper Darwin Award specimen. He’s pretty handy with GIFs though! @Omegaboy13 is likely his inbred sibling/baby mama (or trailer mate). The almost surreal level of stupidity has made me laugh all week.

Bitcoin cannot be defined as a ponzi scheme. Pointing out the truth - that every crash is followed by a boom is not "the standard ponzi response". It is pointing out a historical fact one can observe when looking at a chart.. nothing more. Anything in a market can go to zero. Bitcoin can be supplanted by better tech but as of the last 8 years, it is #1 in the space. It also has real value. To be clear, I am not a bitcoin maximalist. I am more a fan of what Ripple (XRP) is attempting to do with their product line up. While bitcoin remains on the throne, I will continue to make USD via bitcoin as it goes up or down. “Everything is worth what its purchaser will pay for it”.

Do you have any experience in finance? As I previously asked - why don't you short bitcoin into the ground alongside Bill Gates and Warren Buffet? Register an account on BitMex and short the ponzi. It is interesting that so many in this thread pop in when btc becomes volatile to the downside but won't put skin in the game. You're completely confident this is a ponzi that is going to zero yet won't short it and make a killing in fiat. Why is that? You can short it right here and buy a mansion when it hits zero with little investment.

''Do you have any experience in Finance?''. The obvious question of course. But my friend, I doubt these guys have ever experienced a book (one of them lives in a trailer and still watches porn on video tapes - drawing ingenious parallels between Blockbuster and the crypto markets Lol). But finally, someone with half a brain and an education on the crypto markets (and Finance/Markets in general) pops in to witness the idiocy. Hats off to you sirs, I've spent too much precious time taking these bovine creatures to the logic well, a pointless (but comical) exercise. ‘’Market cycles...hurrr....me no understand....sharpe ratio? Me post giffy! Rekt! Drrrr’’. Special shout out to @Orgasmo lol...this guy is clearly illiterate and mentally ‘vulnerable’. Licks cars for a living - literally.

Over to you gents, but don't waste too much of your collective breath, it's akin to discussing the intricacies of nuclear physics with shit flinging monkeys at a budget zoo. : )

 

[Nik123]

I've said it all thread and it's still true

You are one delusional fuck

Lol, calm down good sir. Now now, no need for salty tears and no need to swear. The day job must be tough. Here, I’ll send you 0.1 BTC. You’re welcome. Now you and your family move out of the slum and get some rations and fresh clothes. Be well x

 

[tmnpothead]

Dirt cheap benzo on dream market. Hmm maybe it's time to invest.

 

[THEfightsAREfixed]

Lol of course he doesn't, we're talking borderline retarded level here. Proper Darwin Award specimen. He’s pretty handy with GIFs though! @Omegaboy13 is likely his inbred sibling/baby mama (or trailer mate). The almost surreal level of stupidity has made me laugh all week.

Honestly I don't think you know much about bitcoin or blockchain tech either but atleast you are not full on hater retard that's just upset a bunch of geeks got rich off of the first digital currency to solve the double spend problem, as if it was any surprise that it would be successful after having achieved that.

And if you can't look at a chart and tell when something is a buy opportunity or a sell then you shouldn't be playing in the market. And if you are investing money you can't lose then you are irresponsible.

 

[Davem10]

Lol, calm down good sir. Now now, no need for salty tears and no need to swear. The day job must be tough. Here, I’ll send you 0.1 BTC. You’re welcome. Now you and your family move out of the slum and get some rations and fresh clothes. Be well x

People should read this thread and learn why never to take the advice of an imbecile on the internet

Hilarious how dumb you are

 

[Nik123]

Hilarious how dumb you are

Stop projecting about yourself David, I know it hurts.

 

[Nik123]

Honestly I don't think you know much about bitcoin or blockchain tech either but atleast you are not full on hater retard that's just upset a bunch of geeks got rich off of the first digital currency to solve the double spend problem, as if it was any surprise that it would be successful after having achieved that.

And if you can't look at a chart and tell when something is a buy opportunity or a sell then you shouldn't be playing in the market. And if you are investing money you can't lose then you are irresponsible.

Lol thanks for the back handed compliment. Actually, take the time to read through some of my posts on the thread. People have sent me PMs complimenting me about my market insight and knowledge in this space. And if you want to test my knowledge here to see what I know compared to you - drop me a message. Market context, markets and blockchain history, market cycles, chart technical analysis, risk weighted portfolio allocation, buy/sell points, technology deep dive, user cases, team compositions, Financial services applications, institutional onramps and crypto infrastructure being built....the list is endless.

Let’s take this offline as the retards are going to retard. I work in Finance buddy. Try me - I’m happy to put what I know versus what you know and what you think I know.

 

[THEfightsAREfixed]

Lol thanks for the back handed compliment. Actually, take the time to read through some of my posts on the thread. People have sent me PMs complimenting me about my market insight and knowledge in this space. And if you want to test my knowledge here to see what I know compared to you - drop me a message. Market context, markets and blockchain history, market cycles, chart technical analysis, risk weighted portfolio allocation, buy/sell points, technology deep dive, user cases, team compositions, Financial services applications, institutional onramps and crypto infrastructure being built....the list is endless.

Let’s take this offline as the retards are going to retard. I work in Finance buddy. Try me - I’m happy to put what I know versus what you know and what you think I know.

Lol it wasn't a backhanded compliment, there wasn't a compliment, just insulting the other posters in this thread as well. And I am aware you are a finance bro, I said you don't know shit about bitcoin and blockchain.