WTF is now wrong, all cryptos down?
- Thread starter jorge
- Start date
- Status
That seems wiser.
A month is an eternity.
Toggle signature
@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
I think what I'm about to write sounds a bit utopian. But imagine the uproar if crypto, especially Bitcoin, crashes in the coming years. I believe all your credibility would vanish in an instant, and the disaster would likely be even greater than the dot-com bubble bursting in the early 2000s.
Toggle signature
Winners never quit and quitters never win....
Toggle signature
Winners never quit and quitters never win....
My credibility is not a concern, I'm not a politician (is there any politician really concerned about credibility though?).
The real concern is the inevitability of fiat currency tending to zero purchase power, as mathematically and historically proven.
Some basic math on fiat decay:
History:
Toggle signature
@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
I'm a huge fan of BTC, but something that comes out of the blue, falls to the ground, and then rises to the sky again typically disappears into oblivion just as quickly as it came from the heavens. That said, my brain doesn't even believe what I'm writing here, but my gut is telling me otherwise.
Toggle signature
Winners never quit and quitters never win....
Toggle signature
Winners never quit and quitters never win....
Btc is not a rockstar, it doesn't need fans.
That was 15 years ago
Use a log scale when you chart something.
We can make plenty of contrary examples.
Math doesn't reside in the guts.
If something better than btc pops up in the future I will be happy to embrace it. In any case, everything is better than fiat currency.
Last edited: Nov 21, 2024
Toggle signature
@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
I've been living off crypto for the last decade, now it's easier and cheaper than ever before.
That's why you buy after the crash, like in 2022. Was much easier psychologically to buy back then, the floor was obvious. When no one wants BTC is when it's best to buy
I'm not saying it's better, but it's good and has its uses.
Toggle signature
@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
I would like it very much if some of the gurus in crypto around here would show their knowledge and post here the same time when they predict the marked has reached it's climax and it is time to sell 😉
Toggle signature
If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.
Toggle signature
If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.
Sell what?
BTC - never. Everything else - now.
Not that I am a guru.
Toggle signature
Expense invoices with cashback (in crypto). Crypto on/offramp with invoices. Crypto SOF solutions.
BTC - never. Everything else - now.
Not that I am a guru.
Toggle signature
Expense invoices with cashback (in crypto). Crypto on/offramp with invoices. Crypto SOF solutions.
You can't time the top perfectly and even if you can, you won't be able to offload any big amount.
Your best bet is to always sell on the way up but most importantly... BUY ON THE WAY DOWN!
If you don't think you can control your emotions during a -30% day for btc and click the buy button while everyone panics, you are better off buying and HODLing.
Realistically, most people who have been in crypto long enough, know that there is a very high chance that in 1 year time, the price will be lower than what it is now.
Do you have the balls to sell everything now and potentially miss out on 80 to 100% more gains?
Can you make sure you have that money ready to buy when the price trades much lower in the future?
These are all things you have to keep in consideration if you want to play the trading game.
Me personally, I suggest everyone I know to just buy and hodl. Am I suggesting people to buy at these prices? No.
the only more valuable asset in the world is time
now it's hopefully clear to (almost) everyone that every single person and corporation will need to (somehow) own bitcoin in the future - trading BTC (i.e. speculating on future drop and hoping for re-buy at lower price) was always a bad idea (proven that expected value of just HODLing is much higher) and now more then ever as you can easily find yourself with empty hands and in a very unpleasant position seeing the train leaving
look at all the demand (ETFs, public/private companies, nation states, family offices, all the public institutions, retail didn't even wake up yet and it will) - current holders are more and more solid (incomparable to previous two cycles) and the supply is tiny - what would make you think it should ever go down?
You must not sell BTC unless you need to buy something with and worth it.
It's simple math. Ready my post above
Post in thread 'WTF is now wrong, all cryptos down?'
https://www.offshorecorptalk.com/threads/wtf-is-now-wrong-all-cryptos-down.46564/post-330407
Bitcoin's ascent is not merely speculative but mathematically inevitable given current monetary policies.
Remember: Bitcoin's exchange rate in USD tends to infinity over time.
Toggle signature
@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
I hope you're right my friend. I can imagine if for any reason some of the big investors / whales dump BTC it will go don't the drain to the toilet and you will have the same as the financial crisis in 2008 or the one in the beginning of 2000! Isolated to bitcoin & crypto.
Toggle signature
Winners never quit and quitters never win....
That would be a fantastic buy opportunity. See what happened on the stock market after the crisis you mentioned. Imagine buying amz at post 2000 crash price!
Toggle signature
@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
- Status