History has shown that people do not come close to rebalancing properly in situations like this. The % of people who invested in Crypto over 6 months ago and now have less of their % net worth in Crypto than they did when they invested I can guarantee is less than 1%.

It's pure speculation with no underlying reasoning behind why it should be priced at any level. It also, through draining the Earth of its natural resources through massive electricity usage, is a net negative for society.

Your statement doesn't even matter. If someone with a 10% position 10x's and then repositions to 40% he's still made a lot of money even if his 40% becomes worthless.

You're coming off as a really bitter douche btw. Classic MAD finance bro. You don't even seem to understand who bubbles and crashes actually hurt.

THAYER trying to surpass the amount of hashmarks he put on his whiteboard for thingtelling in 2017 (in his head) this year

impressive start

The people who are going to lose all theit money are the people who deserve to.

Basically yes. The people who are going to hurt the most are the people that had a net worth of X before Crypto, ended up with a net worth of X + P, and lived a lifestyle like they had X + P despite never selling out any of their P into cash.

Sure of course but given what I consider to be personal finance inexperience of those most into crypto combined with things like the hodl meme I do not trust that people have made these decisions

The people who lose will be the morons who buy ripple at 3 dollars because they think it's going to 10k even tho thats like a 300 trillion dollar market cap.

Best part about having all the CRYPTO is it could tank and would still be so much up and have zero anger about it all

basically the haters will be rejoicing at the misery of people who generally won't even be miserable

There's only a few categories.

A. True Believer: likely got in pretty early and is up quite a bit. Probably not ever selling because they think its going to actually work. These people are complete morons at their core.

B. Fake Believer: Got in early and invested with little understanding despite not having a clearly thought out hypothesis or exit strategy. Probably already up big and likely have already taken some profit off the table and will hold the rest. These people are mostly morons but are accidentally smarter than true believers and may end up doing the best from a % return standpoint.

C. Trader: a combination of people who might be pretty smart and button clicking morons. These people made some money through no skill of their own and may continue to do so. Hard to decipher which are smart an which arent. Congrats on ur profits.

D. Fomo idiot: 95% of the people who just bought in within the last 2 months. They will end up being the net losers.

E. Billionaires: the ones making all the real money and manipulating it all

.

Laughing at desperate people feels great. Highly recomend it. Does a great job of making you feel even better about your own life.

Group F: angry people who have made infinity less money than the morons in groups A-E

"This time is different"

- Thayer

Wouldn't say crypto has been infinitely better than real estate and stock market.

Not sure anyone with this take understands this take.

Would rename this Group $

It's like the people who played poker from 2004-2009

Paris is just a city full of scammers. And yes the dog **** everywhere is incredible. Plus the cabbies like to take the longest route just to **** you over to top it off.

Paris has uber

I ordered a standard-sized VACUUM from Amazon and got a message that it was delivered today while I was at work and "Package was left inside the residence’s mailbox". Of course it is nowhere to be found.

since 1940

literally the post after someone said finance bros are just salty they missed the boat on btc, my man zimmer pulled the “draining the earth of its natural resources through massive electricity usage” card. with a dead straight face.

hahaaaaa...I’m not sure a saltier response is even possible.

Will someone think of the natural resources !?!

is this not a ROOMBA?

thing is pretty awesome imo. great purchase

No, I did think about a Roomba but my place is less than 1000sqft and easy to vacuum myself. It was a SHARK.

the ROOMBA is more BALLIN the easier the place is to vacuum otherwise since it clearly states "i'm buying this just because i ****ing can"