Quote:
Originally Posted by pocket_zeros
Everything is technically a scam, why live when you're just going to die? And lol @ people who back non-government controlled central bankers "regulating" anything. You know what's a scam?
[img]static4.businessinsider.com/image/50e77df8ecad049b56000004-1044-732/screen%20shot%202013-01-04%20at%208.09.14%20pm.png[/img]
How do you plan to take on central banking?
[
Quote:
Originally Posted by +rep_lol
lol bitcoin is a pile of ****
still waiting to hear what clear value it has other than as a medium of exchange for child porn/drugs/jungle's hitman and tax evasion/money laundering
For sure, it's not like these things were done before with cash. Satoshi is a true scum bag for inventing bitcoin, child porn, drugs, hitmen, tax evasion and money laundering.
Quote:
Originally Posted by zizek
Christ. I assume by "diversified portfolio" you mean crypto vs non-crypto assets and not a diversified portfolio of ****coins like the one you were "rebalancing" in your YouTube channel for a month. Almost all of the ****coins your darts landed on are perfectly correlated to Bitcoin which makes diversification pointless.
The issue that you still can't seem to understand is that there is no allocation for crypto in a healthy portfolio because it's not a ****ing investment. It is true that portfolio theory allocates a mix of assets based on risk and expected return. But there's no allocation for something that has a negative expected return. It's like trying to build a portfolio and deciding how much money I should put into blackjack. The answer is... none! The only way crypto assets appreciate is if bags can be dumped on hapless buyers later down the line. After exchange fees and mining costs, this is a negative sum game. Given the considerable amount of market manipulation that occurs to the detriment of individual investors, this is a hugely -EV "investment".
Whether you receive affiliate payments is irrelevant. The impact on naive viewers of your channel is still the same, it just means you were too stupid to capitalize on the harm you were inflicting. And you do benefit - if there aren't latecomers to your Ponzi party then your bags are worthless, so by ensnaring new money into the ecosystem, you benefit indirectly. Or in the case of your LUXCoin pump and dump, pretty goddamn directly.
I don't hate Bitcoin. I have little emotion towards Bitcoin, in the same way I have no emotion toward the Nigerian royal family even if I feel quite differently about the scam artists that build a narrative around them. What does the price of Bitcoin in 2014 have to do with what's transpired in the last 1.5 years? The evidence of unprecedented market manipulation is plentiful and obvious. For someone who meticulously analyzes what someone's 4-betting range should look like, you have childishly ******ed explanations for the price movements that Bitcoin experienced over the last couple of years even though there's *plenty* of research out there.
Your expectation that this is just a "market cycle" naively ignores three important truths:
1) that the 2017 craze hit lots of new buyers that did not buy in 2014, and that these buyers are now effectively "immunized" from ever buying in again
2) the severe market manipulation with fractional reserves (Tether) is unlikely to ever work again because new, auditable stablecoins exist now that did not exist in 2017
3) institutional money will never FOMO into this **** again. Do you think if Kodak announces a new blockchain project in 2021 that its stock price will triple overnight again? There was a substantial lag between investor action and research in 2017 that will never happen ever again. At this point being associated with crypto is (justifiably) considered a huge red flag, not an eager selling point.
What "clear value" is there now that wasn't realized 7 years ago when the Silk Road launched? What new uses of Bitcoin have been realized while its price shot up 1000% and down again? And most importantly, why would people using and spending Bitcoin cause its price to go up? This is the critical link you never attempt to explain. Nevermind your extremely dubious conclusion about the "clear value of Bitcoin".
There are two things going on here. On the one hand, you have people actually using crypto to purchase goods for whatever reason (anonymity, international exchange). But this exchange is ultimately indexed in fiat. If the price of Bitcoin crashes 50%, I'm going to start selling my kilos of cocaine for twice as much Bitcoin. That means that the usage of cryptocurrency has nothing to do with the speculative Ponzi games you're playing. Even if there was only 1 Bitcoin in active circulation, we could cut that thing up into satoshis and conduct the exact same business we could with 100 million Bitcoins.
You've never connected usage to price because *there is no connection* except that you *feel* like there probably should be one, even though you've never actually reasoned why that would be the case. It's very obvious that the shocks in the price of Bitcoin have absolutely nothing to do with its actual usage, or even the speculation of individual "investors".
**** off with this ****. I've been trying to warn people about how nonsensical this was since early December. I've had people make threats on my Facebook wall, doxx me in Telegram groups, and been flamed and attacked pretty much everywhere I posted. It was not "easy to talk", it's easy to do what you do which is to fart out videos at the peak of the euphoria when people actually needed cold water poured on them.
Bitcoin's value is a nu-Egold hedge and the realization that corporations, governments and central bankers don't GAF about the citizens they are supposed to represent.
You also seem to think value is directly correlated to objective value, I guess by that standard McDonalds is clearly the best restaurant in the world considering their revenues? Pepsi beats Cola in blind tests, yet Cola still beats Pepsi around the world. A part of value is an understanding of what the product is and bitcoin actually has had adoption and a furthering of the overall crypto space, it doesn't need to be the official money for Amazon to have it's use.
Past lack of success really means nothing for bitcoin, while there are always bubbles with these things, that is the case with ALL investments that go to the moon, how is it Doug's fault that morons don't know how to invest and get in at the top and get out at the bottom?
I guess according to you people can't discuss any investment considering technically ALL of the market will fail over a long enough horizon and thus it hurts people to discuss the benefits of investment xyz.
The issue is with morons in the world, not Doug discussing crypto which he did well but he was hardly the only one, biggest one or most influential one nor was he even close to egregious by the crypto community standards, actually he brought a sense of calmness and rationality that many others did not have, he put his viewers in a better position than the average and some of the biggest channels out there.
A fool and his money are easily departed, unless you want to give us a stock portfolio of all your predictions and we can evaluate them, your warning means nothing.
