I kinda agree. But on the other hand, there's news about big players stepping in pretty much every week. News like this 2 years ago would've blown up the entire space. Right now it's almost like people don't care anymore, but they should. Infrastructure is being build big time.

Trying to reconcile these 2 posts

Probably just very dumb people building infrastructure.

Must be insane to have first posted in this thread in 2011, when it was worth nothing, and being a bear from $3 to $30 to $1150 to $160 to $19500


what a life you've lived in this thread... i salute you watching an asset give at height 650,000% returns and being a bear the entire time.

i dont understand what you're asking, but this seems structurable with options. ledgerX does this for institutional clients already

Your point is made and heard, but don't be disingenuous about it. You conveniently left out the $6,500 that should come after the $19,500, and the people who own(ed) BTC during all that time didn't all sell at the top. You have no idea who took profits and who didn't, and you also don't know who bought at that top and got ****ed.

I watched a relative of mine make 6 figures from the ETH run and he realized he just got lucky, didn't know what he was doing, and got the **** out. Unfortunately, he was on Facebook running his mouth about it the whole run up and let's just say he's got lots of friends who listen to what he has to say and probably bought in and never sold. I would imagine this is not an uncommon scenario.

If you think something is going to be an 8-bagger in 2-3 years, why the **** would you think about shorting now? If you are completely right, you'll make 7000% on the way up, and then when you short it at the exact top, you'll only just get to keep 98% of what you shorted it for. Which is more lucrative? How much size can you trade on the long vs the short side?

Just to clarify I didn’t mean to say I actually think BTC will go to $50k then $1k. I was trying to give an extreme example to show I’m not interested in shorting it but wanted to know if there were options (as in choices) out there such as buying a 3 year put or something similar. Sorry for the confusion.

I thought the only options out there were 3 months and shorter. What does it take to be an institutional client?

no im actually being serious.


How many assets/equities/biz opportunities/whatever have come across in your life where you had the means to take part of a 100,000% (or 1000x) gain? I'm talking once in a lifetime spot... e.g. buying amazon/google/nike/cocacola etc. at IPO and never selling. Of course nothing is a sure thing, but most folks here would agree if you felt some venture had a 10% winrate on a 100x return, would seriously consider making a bet for yes. Instead this thread is littered with folks whove been talking **** while the price has moved from $3 , $100, $1150, $6000

the point is that these opportunities come once a decade at best, and it completely boggles my mind how someone whose missed out on 2000x gains (since you dont believe that 6500x is fair) still tries to justify his position as a bear. The lack of introspection is just stupefying.

as for your friend, i have no idea. seems like you're conflating issues here. I watched CNBC run tv segments saying nvidia 10% off the highs with a PE of 50 is a value stock.

The point of my post was to show you that you left out inconvenient truths in your post to Shoe.

You keep talking about epic returns and etc, but you can't tell me who took profit at $19,500...I'm not saying sick gainz are impossible here. I'm saying to act like everyone who got in on BTC super early and actually saw sick gainz just immed cashed out is disingenuous. Nobody had any idea when that run was gonna stop and we have evidence to suggest most people hodled through that run. Yes, at $6,500 u still have sick gainz bro but it's sort of important to note they're unrealized now and was unrealized at ATH, is it not?

That's all I was saying. Please note that I said you still made your point and that I understood it.

^ what on Earth are you going on about? Who knows when anybody sold.

If this was an Amazon thread would you be going on about "who cares who bought AMZN at $1 if they didn't sell at $2k, it's unrealised gains bro"

I swear Bitcoin just brings out the ****** in some people.

Pretending everyone bought in at $1 is also pretty disingenuous.

.

So wtf happened with tether today. Transferred themselves 500m and then burned it?

Just go to the bitcoin reddit. Everyone there bought in at <$100 which is why they're all still sitting on massive gains even after it's down by 2/3.

They bought it from holders at a discount and made some free monies.

All of Bernie Madoff's early adapters looked pretty smart 10 years in too, the long term outlook was always the same, just like it is for bitcoin.

Obviously bitcoin is not a straight up ponzi but it has enough similarities that calling it a decentralized ponzi is not too far off, as for the vast majority of people the only reason to have bitcoin is to hodl and speculate hoping to get rich. Despit that, a deflationary based economy has never ended in anything but complete failure, the (temporary) inflationary aspect of bitcoin is the only thing keeping it going. That's why the vast majority of bitcoins are completely dormant, there isn't really any reason to use them for anything. Yes, I'm aware this is a gambling forum and they can be used for gambling, those of you who do are part of a huge minority of people who actually use them for anything useful. Those of us here who happened to be early adapters pretty much lucked into that as opposed to being smart enough to thinking they would make a good investment.

Also if bitcoin somehow took over the world, we would have even larger wealth disparities than we do today, it would only make things worse not better.

Madoff was a straight fraud. It is absolutely ridiculous to compare a fraud, where nothing could be verified, to the most verifiable asset that has ever existed on Earth.

Can you cite some examples of these economies that used an actual scarce asset as its base for money and failed? From what I've read, the gold standard produced some of the most productive and progressive societies in history.

Calling BTC a 'near Ponzi' is so lazy and pathetic that I suggest you either short BTC and post your position or cease posting in a thread of which you know nothing about.

I would not expect any other reply from TheLVP.

Crazy that in the same transaction you can handle both the most verifiable and least verifiable currency in history in BTC and USDT,

A surprisingly good point.

Oh boy, here we go again..

I used to think that the crypto market was heavily influenced by news, but the OG's convinced me otherwise. The crypto market fluctuations are driven by psychology and hype. Pumpamentals not fundamentals*

*Except when hard forks were a real possibility.

All I watch anymore is the Meme Triangle, Google Trends, and credible news about Tether or ETF's

For sure. Every time FOMO will be more real than the last time. People have forgotten about Bitcoin right now, but it's there in the back of their minds from last December/January. Every time they are exposed to it, the idea will grow in their minds.