Actually, I read a paper that analyzed bitcoin liquidity since inception, which was recommended to me by a bitcoin trader demonstrating that the market is basically a giant bubble. But yeah, probably at my hairdressers. How very zoomer of you. https://en.wikipedia.org/wiki/Economics_of_bitcoin Now of course you'll tell me that successful investors, people who understand currencies at a deep level like Soros, and economists are all wrong because they're too old. You should read The Alchemy of Finance sometime. No one who matters agrees with you. Sorry. I'd love to see your economic models of it though - provided you're not just shilling for crypto like literally everyone else involved in the scheme.
You lack the basic foundation of knowledge that allows you to discuss this market in a differentiated manner. All you have to offer is hearsay and truisms which are completly meaningless since you've never even had a deeper look into it. I gain nothing from talking to you aside from winning a pissing contest. So I just block you Have fun at your next technical analysis webinar :*
@johnarb: you must understand that there is much more to crypto than just buying and hoping for the best. If you put some research into it, you will find that you can basically rebuild an entire financial system with synthetic products that allows you to do stuff you'd usually need very expensive licensing, auditing and a huge chunk of working capital for. So the real edge in crypto is not the guesswork weither a coin survives or not but the fact that you can for example establish a margin lending business that offers double digit returns and all you need is some basic programming and 5$ Wanna trade a 3m floating receiver swap? You just build it yourself out of derivatives, no need for an ISDA or 7 digit collateral. Synthetic CD's yield 0.8% per month which is about 10% annualized. No brokers, no cost for market data. Sure infrastructure is shit, but it's shit for everyone. Enough liquidity to slap meaningfull size on if you know where you have to look for it and how to manage risk. If you are not a complete idiot, this market is an eldorado.
I agree with you for the most part, although there's a lot of scams in the cryptoverse so I'd caution not to listen to the pie-in-the-sky promises of some of these projects. Many things that are being promised don't need a blockchain or a decentralized network, imho. I've been invested in cryptos since 2013 and have cashed out many, many times my original investment, and all I have invested now are house-money (profits), but it is quite a sizable amount (for me, maybe not for many here on Elitetrader where most people are decamillionaires, centimillionaires, or billionaires) over 6 figures $ amount. In May, i mentioned that I consolidated my crypto portfolio to one digital asset project, it's a blockchain 3.0 (smart contracts, and Proof of Stake from inception) and it's a leader in the STO market, with billions of $ worth of real world real estate properties about to be issued plus financial assets, one should be issued before year-end. These are all mumbo-jumbo terms, but the bottom line is that this one digital-asset project has been paying for our grocery bills ($6-700) every month for 6 months, all on passive-income returns (Proof of Stake). No trading involved. While Gaussian worships and adores the idols of his financial system and will only invest/trade if they approve, he gets absolutely nothing from doing so or from them.
well, to be honest I have no idea about those crypto projects and alts. I trade the BTC and ETH markets against a portfolio of traditional assets. For the most part I make markets and sometimes I have a directional view on my inventory. You invest in a company and I want to be very precise with that. It actually doesn't matter weither your investment is part of the blockchain universe or not, because all that matters is a sound business case. There are as many scams in non crypto businesses as there are in the crypto world. This is probably the reason why everyone is bashing crypto because they connect this market to the ponzi schemes that appeared in the press. Nobody cared about the 1.2B$ real estate ponzi by Woodbrigde in 2017 because it's just business as usual. Bitconnect became a meme, cause crypto. As the sheep they are people do not look further and this is how they form their opinion. But again, I give zero fucks about the companies behind those new projects. In fact I do the most volume in BTC which is not controlled by any company. I love the freedom of trading possibilities and the insane amount of free alpha.
Good stuff and we agree on many things. I always recommend bitcoin/btc, as that's the one that's the safest of all crypto projects. There are no companies with a true decentralized cyptocurrency project. It's an open-source effort. There are communities that are heavily involved, but no one is in-charge. Anyone can make a copy and start a project (i.e. forks). That's the reason no one can stop bitcoin (easily) but Libra cannot get started. There's no one to contact and issue a cease and desist on a decentralized cryptocurrency project, but there's Mark Z. that can be threatened to do whatever "they" think needs to be done.
Faith healers, miracle workers, psychics, and herbalife tell me the same thing. Weird... If you wanted to debate the merits of the technology, blockchain, I'm more than happy to. I've worked with the technology for a while and understand it well enough. Oh you sweet summer child. Go ahead and tell who is going to trade a 3mm swap unsecured with some nobody on the internet, because funny enough I also have a 3mm bridge to sell them.