No vids from Doug Polk Crypto in a while. What happened? Busto?

i bought my bag of XVG May 2017 ;-)

Yeah I think people ITT in general underestimate the power of hype and mass psychosis. This XVG pump that has been going on for days despite the coin being a complete scam is a prime example. No sane person would hold the coin for any other reason than riding the hype bandwagon... but in this ridic irrational market the hypewagon might actually be more relevant than the quality of the actual product. There are tons of great projects underwater and complete ****coins do great because of sneaky staking programs / hype / public faces like Justin Sun etc. I don't think that hodling ~anything for long term is too great of an idea in this market but there are so many opportunities to make insane short term gains. I don't understand how everyone thinks it's smart to be in crypto "for the long run" when we are without a doubt in a gigantic bear market with a very uncertain future, the value of every coin is trending down long-term, there's no reason to think this will change for a very long time, BUT you can still do quick trades where you earn more in a month than you earn on a great stock over the course of several years because of the faster market cycles.

I don't mean this as an investment advice on ****coins, I never have and never will touch XVG or TRX or XRP or other garbage like that, but I think it's silly to completely ignore short-term investment opportunities based on factors other than tech given that it's a market where the quality of the tech barely matters. I mean, how many of you have actually used a utility token for its actual use case? We are all just holding invisible coins with extremely speculative value. In my eyes at least the overall market cap will go down and down, btc will hit 5k, and every coin will lose value.

Irrational swingy markets with huge spikes up and down = made for quick trades

Rational steady markets = made for long-term hodling

Right? Why not look into staking, mining, block rewards plays, google trends, reddit mass psychosis groups like xvg, airdrop plays, or even into chart triangle drawing wizardy instead of buying some invisible coin to hold for years because it has "a great team, great tech"? Just my 2c but I think this kind of stuff gets overlooked a lot. And the mass psychosis on all these "good super legit projects" ever actually becoming valuable and delivering on their promises is more or less on par with the psychosis level of these vergetards.

This is probably an even bigger issue with poker players. We are used to thinking in terms of EV, so it's very very easy to see a legit project we invest in that ends up losing money as +EV and bad variance, whereas buying something like Verge as -EV and it running well as good variance. But what if the equation based on which the EV of our crypto investments is (theoretically) calculated has more variables than we think, and the best EV is reached by doing something entirely different than we think?


Having that said, lol Verge. There is literally no chance that "massive announcement" is nothing but a load of bs. They are probably bringing Justin Sun on board or something.

Chuck people trying to ride hype will overall lose money but Ofc some sharp people will make some money.

Seems better than HODLers, who will all lose money?

The hype trains must be the toughest play there is though, I've never even tried to ride one. It just feels soooo illogical, like why would you want to buy some complete garbage coin that you know is massively overhyped? My point was mostly just that I think people who are losing and will keep losing by hodling dismiss other more out of the box strategies even though the latter might actually perform better

Every scam needs to go up before it crashes. Otherwise it wouldn't be much of a scam and the scammers would lose money.

Most of these projects and ICOs have very big ambitions and gigantic technical challenges, but their teams are mostly marketers so they can do what they set out to do: sell you tokens.

Market fluctuations are a function of crowd psychology - not cold hard logic. No sh*t Sherlock.

PS Verge XVG is the diametric opposite of a scam.
- No ICO.
- No pre-mined coins
- No central control
- Open source code
- Developed by a community of volunteers
- Top 20 coin by marketcap after 2 years of organic growth

FWIW I think Monero is clearly a superior privacy coin, but as with Heraclitus's allegory of the river - nothing stands still. It isn't inconceivable that Verge could develop into the better product over time.

You claim promoters of this coin are suffering from 'mass psychosis' Lol. How about they're simply talking up their book, just like everyone else. There's nothing nefarious about shilling your investments. Do you ever watch Bloomberg, CNBC or Fox Business? This is totally standard behavior. In this world, everyone is trying to sell you something.

Wanchain up another 22%...........Get on the boat boys.

Wancoin train is skyrocketing ! Get on board untill it's too late!

I didn't buy any WAN. AAAAAA

It's not to late to join the team. Inb4 $10 wan

I hold 0 verge, was just saying it DID pump.

New Doug Polk vid on Verge

If you don't have time to watch the whole thing, fast forward to ~9:15. Lmao wtf at them asking to donate you money.

Hadn't noticed that, this is exactly why crypto is doomed imo, the market is just too irrational and people are too ******ed for legit projects to actually thrive.

That EOS pump today, wow. Glad I'm still holding it

Yeah wtf? EOS up 43% today? Also have eos in the bag fwiw.

Ripple up 10 points too.

And wtf bitcoin diamond is $2.45? Do I actually have to look into how to claim it now?

It's $2 on OKEX/Gate/others, but $20 on binance. not sure why

i always just wonder where all this money is coming from to buy these worthless coins? is it all just to launder paper money? avoid taxation?

99.99% of the population doesnt understand, use, or has ever heard of any of the coins except bitcoin. and even then bitcoin is not understood by any olds ive ever discussed it with. some think its like a stock, but they dont get what the product is or what it does.

whos actually using this **** i guess is what i mean? or is it just specialized like a stock market for nerds? someone has to be losing money here like who are the suckers?

I just converted everything to cash and sitting on the sidelines watching what happens with today's spike (bar my lightened bags of ICON (gotta keep an interest in something)).
After watching the market the last few months it just feels like this is a setup for another (bigger) dip. I just can't help thinking there are forces playing games, and to be honest after wasting some time watching YouTube videos lately I find myself hoping that some of these smartarse crypto millionaire kids get a real shafting. Not a very charitable attitude but
some of these instant millionaires are acting like they're the smartest, hardest working and most deserving people and it feels off.
I'll be looking to buy back in to BTC (@< $6k), XMR (< $150) and whatever else, and if I'm wrong and I miss the boat, and I probably am, it won't be the first time in this crazy space.

Yeah it might take a few years for that 99.99% to get down to a more relevant number.
The market may be in a bubble, but I just can't see any way that crypto currency isn't taken for granted by say 2030.
Every budding economist is growing up with it now. Every tertiary graduate is getting acquainted with the tech. It isn't going away.

How to sell the bottom to buy back high 101

Interesting. I had no interest in crypto before this "crash", honestly I thought BTC would go down sub 1k and every other coin out there would be dust. I'm very surprised it held so high.. it's a very strong market apparently.

I still dont see the value, but my knowledge is poor. Ive started reading about it a little bit and I dont understand how you could possibly go straight cash after it (all coins in general) held so high?? The market does feel manipulated from the outside, maybe its even worse from the inside. keep on keeping on

Trying to predict manipulated markets can be costly

LMAO amazing

Ouch.

This is quite some bounce, what on earth is going on? Is it just another bear market spike that will chop its way back to depressing lows or a real turnaround.