This is one of the most ridiculous statements I've heard this year. Aside from 'Gay Pride for Islamists'. During the crowdfunding for ETH, the cost was only 31 cents per coin. Yes, 31 cents! If this is still performing horribly to you, and (without a doubt), then I don't know what else to say. It's about as par as libertards stating that if Trudeau gives each Canadian 10 million dollars each thanks to the money printer, then "We'll all be rich and live a life of abundance into perpetuity." And yes, we have woke university graduates now who honestly do believe this! You haven't realized that there has been Ethereum staking ETFs for years now on the Toronto Exchange?
You shorted MSTR at $700 and then had to cover because it was going against you signifcantly. You then stated you shorted it again at $1000. MSTR did a 10-to-1 split but let's pretend that didn't happen for the sake of simplicity. MSTR is now at $1,760 so your track record and bias with BTC/MSTR has been dead wrong the entire time. Everyone knows that the BTC collpase a couple years ago was basically due to Sam Bankman-Fried's fraud and the leveraged partners associated with it. Those days are over and all of that nonsense has been worked out of the system. Despite the setbacks, so far BTC has proven to be one of the best investment vehicles of all time, but you seem to be very resistant to that idea for some odd reason. I would love to hear your up-to-date comments on the matter, aside from calling it a "magic coin" with no real value, as clearly that has not been a very accurate perspective so far.
I agree with you on Solana. I do hold some of that too. I was thinking about trading all my Eth for Solana, but I still see a lot of potential with Ethereum as a longer term asset. I do believe that with all these upgrades, it will just get better and better. The Pectra upgrade will be in December, well see how it plays out. I'm sure it will help the transaction speed and hopefully the fees. And Solana is performing very well. I kick myself for not getting in sooner. If you got in under 50 you are doing great right now.
You can't deny the facts. This past year it has done horribly compared to Bitcoin. And yes you can also say that Ethereum has been out for almost as long as Bitcoin. Why isn't it up with Bitcoin right now? So compared to Bitcoin it is doing horribly as I first mentioned. Even with the ETFs being out, it's still doing horrible. So you can look at it however you want, and if you think it's doing good in the short term? No, it has been anything less of dissapointing. Long term yes, short term no. No sorry I did not know that. I did not know that me, being from the United States, had to keep up with Canadian market news.
I have been wrong on my short but I'm not worried.... I shorted MSTR and made a small profit sometime in early 2024, I covered the short and then went back in for a second time at around 96 post split 10 for 1. I'm down at the moment and still hold those shares and have NOT added any new positions to that short position until this past Thursday and Friday when I sold 3 puts on MSTZ at 14 and 12 for a credit...meaning shorting MSTR with these new sell puts. I will add more MSTR shorts above 200 on my original short position at around 96 and will also short the new MSTX and MSTU which are leveraged etfs that mirror MSTR MSTU is a 2x and MSTX is a 1.75x...I might not even add to MSTR short and just go all out on the MSTX and MSTU instead. Will be placing these shorts soon!
InvestAnswers on youtube is a Solana-convert from Ethereum, he thinks as this bull market cycle gets heated up that Ethereum will go up, maybe 3-5x, but let's say 4x to Ethereum peak of $10k/eth... He thinks Solana fair value is half of market cap of Eth, so currently a double from here, and if Ethereum does the 4x, a Solana peak of over $1K/sol is a better bang for the buck.... true, true, we should have gotten it last year when it was below $20 for a long time, but we can't go back in time Are you even paying attention to the bitcoin price or the macro liquidity cycle change to expansion from 2022 contraction? You're trading on emotions but at least be aware of signals, mainly if bitcoin goes above $75k next month, don't just blindly shorting and shorting As a permabull, I fucking ignored the Nov 2021 massive change in global macro liquidity and paid for it with missed opportunities... could have been worse, like a lot of the wipeouts not just in crypto but in TradFi banks and pension funds and others but banks have bailouts, the crypto industry did not, it's all in the past now...
So are you saying that the basis of your short strategy is "what goes way up must eventually come way down"?
Not necessarily no, just look at their quarterly earnings and tell me how 100 million in revenue warrants a 35 billion dollar market capitalization.... Last earnings were absolutely garbage.
You really believe MSTR trades on it's earnings? You are lost. MSTR is a holding company for one of the largest Bitcoin holdings. If you actually followed it, it pretty much shadows BTC on a 2X move.
The name is 'Elite Trader', not 'Rookie Trader'. When you create your trading/investing thesis and base it on ... "well there is no such thing as so&so ETF" which is resulting in outcome ABC. It is your DUTY to do your due diligence first and make sure you are correct on that theory of the instrument. You missed the fact, so the outcome of ABC is actually XYZ now and you didn't even know it. Of course you have to keep up on Canadian news, since Canada has been front running the US for years now, which is still terribly behind the curve.