Bitcoin "Freefall"

Discussion in 'Crypto Assets' started by SunTrader, Dec 15, 2021.

  1. The real godfather is Biden

     
    #221     Jan 22, 2022
  2. #222     Jan 22, 2022
  3. SunTrader

    SunTrader

    I trade. I don't own.
     
    #223     Jan 22, 2022
  4. Ah. Smart man.
     
    #224     Jan 22, 2022
  5. Baron

    Baron Administrator

    I'm not sure why you're taking my trade history and marking them to market like they are trades that been closed. All of those positions are OPEN buys and any losses or gains are currently UNREALIZED because not one completed trade has even been made yet. All I've done is buy. I haven't sold a thing yet. If that's the approach you want to take, that's fine... please just do that when these positions have flipped to the positive and post the unrealized gains as well. The thing is... I know you won't do that. Why? Because every time BTC has a rally and approaches an all-time high, you literally just stop posting and go completely silent. And then when the crypto market takes a dip, you come out with blazing guns loaded with negative comments and spreadsheets showing unrealized losses.
     
    #225     Jan 22, 2022
    Sprout and johnarb like this.
  6. virtusa

    virtusa

    The real situation is market to market pricing. You have an open loss, so that's reality at this moment. All the rest is wishful thinking. We only know for sure that at this moment there is a big loss, nobody can deny that. And what future will bring, nobody knows too. If you know that BTC will go up strongly, you would have know too when to buy and when not. But reality proofs the opposite. If you have no idea that it goes down, how can you have any idea that it will go up?
    I used your trading history as hard proof of what I posted. I thought that you wanted to show what would happen in reality with your trades. But apparently it is only usable in case BTC goes up.

    I posted already a long time ago that crypto's are scams and I never changed my mind. I even show, based on numbers everybody can check, that BTC is already struggling to make returns the last few years. The compounded rate of return, starting in 2010, went down since april 8,2013 by 65.6802%, showing the weakness of BTC. Till today nobody can proof that statement to be wrong. If it would be wrong many crypto fans would already have taken the opportunity to take me down.

    So if BTC goes to zero and you don't close your positions you have no loss??? Because it is UNREALIZED???
    If you have shares from companies that went broke, you have an UNREALIZED loss because you never closed your position?
    Companies have to value all assets market to market when making balances. There is a reason why they have to do that.


    The crypto fans do exactly the same. They all appear when BTC is skyrocketing. And they also use unrealized profits as they stay in their position.
    "The pot calling the kettle black"

    I posted this when we were just after the top of november, which confirms that I don't hide when prices are rallying:
    baron.jpg

    And since that post we went down very hard, which confirmed my post being right.
     
    Last edited: Jan 23, 2022
    #226     Jan 23, 2022
  7. Baron

    Baron Administrator

    You seem to have this burning desire to be told you were right. So I want to make it very clear that your post that you quoted above from November 16th was absolutely correct as we look back on it in hindsight. Congrats. If I could pat you on the back right now, I would. However, it's interesting you posted that particular comment instead of marking the account to reflect the $4k in profit up to that point.

    Which gets us to the point I was trying to make about marking unrealized gains and losses. You only do it when things turn to the negative.

    I realize that now. You're like Peter Schiffe. He literally said in an interview the other day "I've been warning people about Bitcoin since it was $10."

    ...and he was actually proud of that statement. If he shorted it at $10, I wonder what his unrealized loss would be today. :D
     
    #227     Jan 23, 2022
    Buy1Sell2 and johnarb like this.
  8. Overnight

    Overnight

    Ooooh! *raises hand I know the answer to that question!*

    It would the current spot price - $10

    Gimme' my cookie!
     
    #228     Jan 23, 2022
  9. Buy1Sell2

    Buy1Sell2

    Isn't he just building an investing position?
     
    #229     Jan 23, 2022
  10. Yes

     
    #230     Jan 24, 2022