That’s an odd post. You seem so triggered that you might have mistaken me for someone else. the problem with the retail crypto people is that they are angry and dumb, but they think they are enlightened and smart. Talk to the guys I talk to about crypto. If you don’t know who the sucker is, it’s you.
I've been doing the math again this morning on BTC/ETH options. Debating on shorting more PUTs on ETH... or just leaving a few limit orders open for a potential flash-crash if I get very lucky. The good news for bargain hunters/bottom feeders is that the stock indices are still way over-priced and gravity will win out (always does). So we may be due for another leg-down in crypto when that happens. What isn't certain is WHEN. Straight lines are very uncommon in the complex markets, and time-frames can be irrational. I have always wanted to own a whole bock-order of something. Slowly I may just keep building up toward that goal with Ethereum ETFs if they don't go to the moon too soon again.
No, you just assume i'm triggered. Then you go off into this stereotypical crypto person rant. What have you done to trigger me? If you think your comments are offensive or insulting then that was weak. It's pretty difficult to offend someone with them knowing you're not very bright or intelligent.
ha. Because your brain is so simple, I’ll rehash it for you. someone (not you) talks about Amazon I respond to that post. You respond with some drivel about every company performing as well. I say that’s not true. You never refute this, but reply with some inanity about bitcoin. yeah…. That’s how a “smart” non-triggered man reacts.
You think just because someone has a disagreement with you means that they're triggered? Really? This is the way you think? Let me tell you a story. I was at the grocery store buying groceries a while back. I was in line at the cashier with my cart. All of the sudden the person behind me started ramming their cart into me repeatedly... I turned around, and saw a retarded kid pushing his cart into me and laughing, with the mom telling him to "Stop" When I saw he was retarded and laughing, I started laughing with him. Moral of the story, when you know someone has a mental disability, or problems in their life, or is unintelligent, you cant take anything they say or do seriously.
Are you saying you have a mental disability? Because you are certainly acting like it. Reread the posts by me and you... if you can't see your logical gap, perhaps the kid was laughing with you.
I know you're a smart and rich finance guy, but I'm curious to ask what it is that you don't like about bitcoin. Of course when it comes to crypto in general, it looks like a ponzi scheme, and many coins and blockchains are, but lets specifically focus on bitcoin. The fact that the government didn't come up with it and it threatens fiat currency certainly is a good excuse. But do you not think in this new world that the people might actually finally get more of a vote than all throughout all of history? The FED is after all backed into a corner now. The debt based system is reaching the end of its life, and the USD, like all other fiat currencies in the past, is bound to fail. Look, they can't even get rates to any normal level anymore because of all the debt, but the inflation has spiraled out of control. The only solution now is demand destruction it seems. The idea seems to be asset price destruction which will make everyone feel poorer and hence destroy demand, which will therefore rein in inflation. Whatever the government seems to do or support turns to crap. Imagine if the government was running the internet, or the mobile networks? I bring up these two technologies because these are often quoted as analogous to the adoption curve of crypto. Its only private industry that can truly innovate. This seems to be the first time in history that the private sector is innovating money in a meaningful way since the government is showing us that they are incapable. Surely there must be a part of you that thinks there is a small chance that the adoption of bitcoin will explode and leave the government fiat currencies scrambling for relevance sometime in the future, no? Didn't super smart people in the past say the internet was just a fad? Smart people get it wrong all the time.
I don’t have a problem with bitcoin. I never said I did. I don’t understand it. I have a problem with users who act like they understand and see this vision but then demonstrate below average logic. See the thread between me and the crypto bro. He couldn’t wait to talk about how awesome Bitcoin was that he brought it up out of nowhere when the conversation was about Amazon. From what I have learned, defi has a place in the world and the blockchain will revolutionize supply chains. Buying crypto now is like buying a quasi stock in a wildcat expedition. we’ve seen bitcoin is as speculative as any other unprofitable tech company. What the fed did affected bitcoin as much as all these bozo tech companies with 100bn valuations and 1bn sales. bill gates did notoriously miss the internet in his book. Retail investors lost hundreds of billions betting on dotcom 1 and will likely lose trillions betting on dotcom 2; even though the internet did revolutionize humanity.
That's a fair assessment, thanks! I've put a fair amount of time into studying it, and I'm convinced that it will solve many, many problems in the world today. Not exactly from the point of view of how revolutionary it is, but simply because it takes the power of money creation away from the government. I believe that many problems stem from wealth inequality, and the FED is directly responsible for this. If the US never went off the gold standard, spending would have been curtailed, and along with this, the inequality could have never spiraled out of control. Controlled spending leads to smaller governments, and smaller governments lead to more freedom. The deficiencies of fiat are addressed very well by bitcoin. This is why they say bitcoin is the hardest form of money that we have ever had when you study money over the past few hundred years. Its of course difficult to run a bloated and ineffective government if you don't have access to unlimited spending, but this is precisely what is needed. So I'm very hopeful that bitcoin survives and revolutionizes the world.
What I don't like about bitcoin. Let's address this one by one. Let's start with the obvious. It's not a currency. It is not trusted or widely accepted as currency. I know that more and more merchants are accepting bitcoin as a method of payment but I have yet to see products priced in bitcoin. I'm assuming that if you want to buy something with bitcoin the merchant will convert to fiat and charge you at the going exchange rate. (maybe someone who has bought a Starbucks coffee can share their experience) How am I going to give 10 bucks to help out a homeless person or leave a tip for the hotel maid?