Originally posted on 05/21/2021:

The work hard culture and environment are gone-its work smart.....times change-dont hate the people for adapting...
Quote Originally Posted by Goat Milk View Post
When you see people getting wealthy in a matter of a year off a couple clicks, making more money than my father did in his entire lifetime standing on his feet for 14 hours a day, you don't think it warrants some saltiness? It's not about wanting everyone to fail, but a good percentage of those people, don't deserve that money bro, it's just blind luck to them.

But just looking at it logically, when it was 60 grand, almost 65 grand, I said that no way this pace could keep up, because it wasn't fluctuating and swinging like the stock market, it was just literally going up every single day for months. A pullback was due bro, and a big one. If we're going to treat this like the stock market, the market has had a massive pullback the last 6 months.

Also, ppl were warned that regulations around the world were coming. I said it many times over the months. I also warned that regulations in the US were going to follow soon. Once the Senate passes a bill in the next year, crypto is going to sink again.

I know a lot of ppl who are in crypto and don't want them to fail. I voiced my opinion and told ppl to sell and cash out their huge winnings. Most people are just greedy obviously. It's human nature for us to be. I've been greedy many times in stocks to see 50k profits in one stock literally wiped out in a matter of days or weeks.

People are crypto though are different, they literally just think the coins will continue to rise without any pullback at all. It's very odd. Even Cathy Wood, saying Bitcoin is going to go to 500k. To me that's laughable. Sure, maybe in the distant future. But not now.

There are huge environmental concerns when it comes to a lot of crypto. I wouldn't be surprised to see another coin come out of no where and dominate bitcoin in the future.

And bitcoin isn't going to take over the world in terms of payments. Cash will ALWAYS be king. Because currency doesn't fluctuate (fractions of fractions of fractions of a percent). No legit businesses are going to consistently accept digital tokens at the risk of them devaluing.

And even if bitcoin stabalized more like cash, it's not going to take over **** etc because **** will just develop their own coin in that case and own blockchain system. They don't need ripple or ethereum or any of those.

What happens when major banks start getting into the game to reduce their costs? Those third party coins become worthless.

Nothing is going to replace a credit card at the end of the day. When you pay for something in bitcoin, is there a 24/7 hotline you can call and some person can help you with a transaction, or send you a new card, or cancel a payment if it's fraud? Bitcoin iis no where near the level of a bank -- and they're trying to start appealing to regular consumers, which is never going to happen.

Anyway that's my two cents.

It's not a popular opinion though. I realize that.

Hopefully the coins go back up for you guys if you didn't sell. I have no skin in the game, so it doesn't make a difference to me in the end ultimately.