Uh, where did the "dumbos" comment referring to hodlers come from? Extreme you say, something in-between, eh? My last trade mstr calls made over US $700,000 with a risk capital of $40K in the span of less than 6 months That's neither hodl forever, nor a day trade. Is that in the middle enough for ya?
"They" is the entire financial industry. They collect money off of ETFs. They'd sell you shit if they could legally. Bitcoin ETF also lured people out of legitimate Gold into a ponzi scam token. The scam is they know the industry is propped up by fake Tethers. You can read the disclaimer of the ETFs. They list stablecoins(USDT and USDC) as potential risks. I don't know that they are dumb and blind-sighted, they might be crooked! It's either one or the other. Could be a combination of both, given the woke agenda! I mean come on why are all those CEOs going on national television and shilling you digital ponzi tokens as an investment? This would have seemed absurd, if only we weren't in the times when the US president is wearing diapers and the other candidate is getting shot at.
This was a good trade, without a doubt! The problem is promising Bitcoin as some legendary investment and revolution when it's just a scam pump and dump ponzi token. People who get early into ponzi schemes make a lot of money too, doesn't make the ponzi scheme legit... In the end it always collapses.
This is Elite Trader where people discuss trading and investment ideas, but it's for entertainment purposes only, seek financial advice from professional certified financial advisors if you need it But on the topic of bitcoin, I do believe it's going to $1M and it is the greatest financial monetary revolution in the history of mankind and I have more than 50% of my family's net worth invested in it you on the other hand have been saying for a while now that bitcoin is a ponzi, a scam, and that it will collapse and I'm sure that you have put money, a big portion of your net worth in shorting bitcoin You keep explicitly saying to everyone here to sell their bitcoin, because it's a scam, a ponzi, and worthless but I hope you realize that if bitcoin goes much higher even to $200k or $500k next year, you should watch your back as investors who missed out on profits can report you for posting false negative information on bitcoin per the UK law, they can extradite you as you are in Europe, no? There's no such UK law for saying positive things
You are probably in the ballpark of at least a full standard deviation here. The problem, is that it doesn't even matter if it's within 3-standard deviations from the mean, because... Gold is going to 1MM Coffee is going to 1MM A blowjob from a street hooker/Tesla-bot is going to 1MM We need time-lines here!
Thanks for the heads up on this WBD episode, was not planning to watch it As Di Bartolomeo mentioned, bitcoin and hard money concepts are very important in the middle of a shtf scenario to be used as bug out tool (shout-out to SF mention on another thread) , but doubt any of the people on ET from western 1st world countries could relate or appreciate. To a very small degree I experienced first hand with the recent relocation to a different country, but I digress.... I love the metaphor or analogy with the slow boiling water for the frogs, what we see as decline in the western societies, flash mob looting of businesses in California cities, chaos in London, daylight robbery of restaurant customers in high end NY and Cali restaurants, daylight robbery of homes in California, street takeovers cars doing donuts, higher inflation than the published official ones causing insurmountable hardships for the working class... nothing to see, move along I mentioned to my friends and families in the US some of these things and have heard the nonchalant dismissive responses, so probably similar attitude here... but it's cool, no skin off my back Excellent pristine collateral asset description of bitcoin pointing out deep liquidity and 24/7 global markets, look at what happened during the weekend of JPY carry trade turmoil and the ability to sell bitcoin holdings to raise capital And great breakdown of the importance of stablecoins or digital crypto dollars, for the unbanked or more importantly, the ones who do not have access to banks that provide trusted counterparty $ services Enjoyed the video I was not planning to watch
Here is something else I watched today with Luke Gromen. He makes the point that China might be softening its stance on owning bitcoin from what he is hearing. Further in the video, he also described how bitcoin is the last functioning smoke alarm with reference to all the monetary and fiscal stuff that is going on. You're absolutely right that everything is going to shit. In the video, Di Bartolomeo made such an amazing point how Venezuelans are from the future. It was so funny and so true because their past is the future for the west. They have already gone through hyperinflation, but the west is just getting started down this road. Everything that he said was so brilliant and yet he remains so humble. I think the bottom line is this. Everyone knows US dominance is fading, and many countries want a different monetary system, but nobody wants to trust anyone else. Trusting gold is ancient history. It just makes perfect sense that if you can't be the reserve currency anymore, the next best thing to do is make sure the baton doesn't go to someone else. Once you realize you will no longer have the advantage, then its in your best interest to make sure the next system is fair, rather than some other super power calling the shots. If the next system is really going to be based on 21 million bitcoins, and the US can control millions of those coins through their own holdings and the holdings of US companies and US ETF's via its citizens, then this is a very good position to be in.