to put things into perspective, no asset class has out performed crypto in the last 5 years. it has killed stocks, bonds, currencies and all commodities. ignoring this fact just makes you look ignorant. there are big players that are suggesting this trend will continue.
BB was never a crypto bull, he would often say that cryptos are in a bubble that will pop. The only strange direction he took was trying to pump IOTA, as IOTA was fundamentally flawed. I still don't really understand why he (a reasonably intelligent person) would do that, as it seemed out of character.
No need to erase incorrect posts,opinions or bad calls. After all, you can only go on the best knowledge and strategy you see at the time. Personally, I've made three large 'bad calls' since 2009 with Cryptos,Australian property and silver but I'm still very confident on my strategy (wont touch cryptos, sold property and brought silver). For certain periods, I'm right and other times way off (i.e $20K bitcoin was never possible IMHO but did happen - property continued to rise after 2009). Main point here is make your claim and stick to your guns. Chasing after the 'next best thing' will pretty much ensure you have entered to late and get stuck in the crossfire So let me go on the record for my future opinion's Will cryptos go up? time will tell but from my opinion it looks like its in a few year bear market Will silver go up? time will tell but from my opinion it looks like its bottomed and starting to exit it's bear market Will property go up? time will tell but from my opinion it looks like its in a multi year bear market I might be bearish on cryptos but not going to kick an bitcoin/any investor when they are down. Having respective discussions and debt's is good for all parties to learn
Getting caught up in the day to day, week to week just magnifies everything If you think crypto is a good long term investment - then just hodl and forget about it. If you think it's not, then move on. It's really that simple. I know I've said it before, but I just can't understand why people who view it negatively and have no interest it, feel the need to keep commenting about it? It's not like you're saying anything we've never heard before or aren't already aware of Nobody here is looking for a saviour
Yes, my mistake. I'm sure everyone who invested in crypto is retired now. Yes, yes... 'bitcoin to the moon,' right? I believe that's what all the kids are (were?) saying. And now back to your regularly scheduled crypto fanboy cheering. Hey, try this one: https://cointelegraph.com/news/tom-lee-maintains-15-000-year-end-btc-prediction-despite-market-crash
Of course people follow someone who sounds authoritative, but everyone has their own self interest when it comes to markets. Every financial article or forum post or blog or magazine or broker has bias. Maybe they want their shares to go up. Maybe they shorted the shares. Maybe the get a commission. Maybe their sponsor fund or trading exchange for their blog or magazine sponsored the article and they are just trying to get more traffic to the market or product. You never know, but anyone who knows enough and cares enough to write extensively on the topics usually has a vested interest in some form. It should only be natural to take any market article as information but with a sizable grain of salt. I don't care if it is a major financial channel interviewing a market giant like Soros or Buffet... I consider it only as opinion and I make my own choice to ignore or consider or act on the information in the end. Buffet sells his Berkshire company, and Jack Bogle sells mutual funds. Mike Maloney sells PMs. BitCoin guys sell and/or own BitCoin and want you to buy some also. Of course they're going to pump it and recommend all the good aspects of it. Tony Robbins (the motivational speaker) said it well: "When everybody's unsure what to do, and there's somebody who fucking knows, everyone pays attention. Someone who has certainty, even if they're wrong, will lead other people." https://www.inc.com/magazine/201610/most-confident-man-tony-robbins.html Moral of the story is that you've gotta learn to lead yourself... in all aspects of your life, but especially financially. Trusting anyone to do it for you or to put your interest or the greater good over their own interests is at your own peril Yep, but it will probably help the pockets of the people teaching you about the next big thing.
I think this statement is incorrect, this forum had several people pumping cryptos, talking about the money they were making every day and offering to assist people into investing in the complex market that was cryptos. one member who has been silent since February was hyper aggressive against people like me calling it out for the bubble it is making claims of $100k + bitcoin etc and that I was just crying because I wasn't in the market. now if members had listened to him and invested in just bitcoin from the time he 1st started to promote it on this forum to now then they would be lucky to have 30% of their investment left. assuming their cryptos haven't been stolen by one of the many hacks online I, was one of several members pointing how unstable and unsafe cryptos are as an investment and that they have no intrinsic value and are therefore a sophisticated ponzi scheme. despite being personally attacked and having my opinion picked apart using other peoples definitions I maintained my position which has been vindicated with time I find it funny how crypto supporters are still trying to use technical details of cryptos and other peoples lack of technical knowledge as a basis for their position that cryptos are worth money. the expression is not being able to see the woods for the trees. now I am sure I will field the usual insults of how I don't know what intrinsic value is and how I don't understand what crypto is so how can I comment on its value. I do understand how human nature works, markets work and how commodities work. bitcoin has yet to properly drop but it will happen soon
I deleted tens of thousands of posts across various social media channels. It had nothing to do with calls, crypto or being wrong/right. If you signup to SS as a member, you can read the thread in the members only forum with the explanation. I have an opinion, but don't claim to be an authority on anything. I have never tried to "suck anyone in". Having a blog doesn't make me any more or less worth reading than someone putting their opinion on forums. If you really want to read the first post it was also published here (I couldn't delete it ): https://www.propertychat.com.au/community/threads/monitoring-the-crypto-bubble.28213
Intrinsic value doesn’t exist. All value is assigned by humans. In a universe absent of humans nothing has value as value is a human construct. Secondly, if you make technical errors then expect to get corrected.
reads a lot like sour grapes you missed out on the biggest wealth reallocation of the past 5 years, does that fact upset you? tell us about all your other out performing investments?
i saw a bubble in the market, i called it out as one, i was attacked by pumpers, value is now 30% or less of what it was when i called it out. Pumpers are now quiet or twisting themselves up to claim investment value buying and selling then repeating. Sounds like gamblers at the track. As for technical knowledge, just because i cant rebuild the engine on a car doesn't mean i cant establish its value. Same applies with cryptos
Shiney, point taken but given a universe without humans isn't likely we need to look on the other side Personally I do believe in intrinsic value, but you might be closer with subjective value. Do empathise with anyones dollar loss but use it as a learning experience. For example taking profits periodically is greatly underestimated in all markets. Note the possible reason(s) for market moves (higher/lower) and play the next wave with the new knowledge.
@Ag, price is only one aspect of crypto. There’s also the technology and potential use benefit. It’s the latter that helps us crypto “fanbois” from drinking ourselves to death or watching re-runs of Days of Our Lives.
id be as pissed as you are if i also missed the boat, its still not too late to get on board, actually a good time to buy the ponzi line is getting old.
im as upset about missing the boat on this as i am about every other investment i could have made in my life that would have set me up for life if i had known when to buy and when to sell. Bottom line is we disagree on the crypto market, so far i have been right, who do you think will be right in 12 mths? I actually think that you will still be here, despite being wrong so far you at least have the fortitude to stay on the forum
'It’s the latter that helps us crypto “fanbois” from drinking ourselves to death or watching re-runs of Days of Our Lives....' One thing I admire is the crypto humour and always love the crypto memes! lol
no need to be so salty to those that did make it. i dont think you have been right, theres no better performing asset in the last 5 years, thats not a statement but a fact. yes i will still be here, yes this is capitulation from the december 2017 high (or could go lower) but crypto is here to stay and yes i am in for the long term. this is just another phase in the cycle and is minor for those playing the long game.
