There have been plenty of losers in fact most people have lost money in crypto, they buy pumps (FOMO) then panic sell dips then rebuy higher have no idea which coins have longevity, when to take profits how to ladder in buys, ladder out sells. how and where and when to use and place a stop loss and if one triggers when and if to re enter the positionIt isn't as easy as it sounds
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Do you think the same about Bitcoin itself?
I'd guess a lot of people took losses in Dec 2017 buying in near 20k and bailing out with 20-50% losses.
But has there really been enough losers or real injected money to explain all the winners.
And even if it is all legit. At some point many losses will have to be realized to balance the books..Comment -
What I meant by dart was that all you really had to do was enter crypto(My thing is Bitcoin and has always been bitcoin for the most part, just dabble in other stuff from time to time) at some point within a few years ago to be successful. And its not like bitcoin is going anywhere so you don't have to rush to make any kind of moves, take it however you want.Comment -
I think he just misunderstood what I was even saying. But there is no way Bitcoin is anyway close to being a Ponzi, can't speak for other coins. Yes(Crypto is still in it's infancy), that was my message I was trying to relay.Are you saying crypto is a Ponzi?
It's not an easy concept to take in. Supply and demand. If everyone sold all their Bitcoin at once, the last guy out would only be selling for a few satoshis. (not counting BTC forever lost).
Exchanges make money on fees, loans and bad traders. Underneath it all, crypto encourages long term investing. As long as the faith in crypto is strong, it will keep going onward and upward. Crypto is still in it's infancy, still onboarding newcomers. There may come a day when the volatility is completely gone but not anytime soon....Comment -
People that just bought and held, never selling are almost all up. Most aren't patient and disciplined enough to do it.Not just in the drop from $20000 in 2017/2018. This year 2021 in a raging bull market we had 2 significant draw downs with plenty of panic selling on the drop from $65000 to $30000Comment -
Last three posts spot on. It’s still very early, and as this house of cards the printing press has constructed start to fall, the only place to go will be Bitcoin. Gold is a joke anymore, as are most metals. The hot one now is battery metals (no not your used double A’s). Small cap stocks getting massacred while somehow the big indexes continue to tick up. Bitcoin is what money is supposed to be - once more start to realize it, it won’t be fomo, it’ll be necessity. Buy some every week, month, whatever you can realistically afford. BOLComment -
No bitcoin for me. I think it will eventually be worth next to nothing. Good run however and let's see if it will settle down and be less volatile. If they can limit the competition from other coins and stabilize a little more, I may pick some up.Comment -
Who puts money into a speculation and never takes any out?
DOJ is going to get it in the USA!
Just a matter of time for some big fish to get nailed for not paying taxes on their gains.
The whole thing would collapse. PayPal, Coinbase, Kraken would all fully cooperate and provide full disclosure on every USD transaction you ever madeComment -
It's the hodlers that keep Bitcoin afloat, I think, and prevent Bitcoin going to zero. The reason the price goes up is there are more people getting in than getting out (obviously). When the price goes down, the reverse happens.
Andre Antonopolous famously tells a story about how when he first came across the Bitcoin whitepaper, he proceeded to spend the next few months barely sleeping or eating such was the light that went off in his head. I don't understand all the nuances myself (mining, etc.) but the message was that Bitcoin was sound economically.
I agree with you about Tether and some of the stablecoins. Tether always has been kinda fishy but who hodl's Tether? Not I. Get in, get out with that one. Seems like there was an audit some time back about the way Bitfinex and Tether interact.... They had to show that they had the financial backing to cover the supply. My guess is there probably was some hanky panky going on in the back room but nonetheless, Tether still survives.
And as onetrikpony mentions, there are plenty of losers. It's not the best for a short term hold (how many times have we seen someone post "my $1000 withdraw is now only worth $800!"). Mostly those that are looking for a fast buck, undisciplined, etc...... Hold for 5 or 10 years and it's almost guaranteed that you will make money.Comment -
Some people just don't get it but some doComment -
Reading this thread just shows how early it is for Bitcoin. Couple guys who get it, rest are regurgitating crap they’ve heard on tv. Do yourselves a favor and read Bitcoin Standard if you haven’t already, and study the definition of what money is, and isn’t. One US dollar in 2000 is currently worth 61 cents. Mass insanityComment -
Bitcoin blood bath right nowComment -
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guys,
just trust jibby
he's kind of an expertComment -
Don't hold longterm. Sell high..buy low. I have been buing in the 40's and selling in the 60's. Only idiots hold volatile currencies forever.Comment
