OT: Bitcoin, Altcoins, NFT's & All Things Crypto
- Thread starter bob-loblaw
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No, I mean not possible. Your scenario would require collusion amongst a static group of participants with no exits for other instruments. That’s not possible.
they can exit if they want. But they don't because they don't want to.
3 people can 100% drive the price of an item up indefinitely.
They cannot exit and continue to increase the price, as you would have a smaller pool of participants.
You are constructing a fantasy world where participants continue to trade back and forth, and never exit. That is not reality, and I don’t wish to continue explaining why your fantasy is not possible.
Simple answer, the trend has been lower, so why not wait a bit and try to get a better price? Just like stocks.
Well the idea that it is fantasy is where your not possible argument falls apart.
Unlikely is the word you were looking for.
My argument stands. Not possible is the correct term, and the term I chose. Markets aren’t fantasy lands.
You many describe the scenario as fantasy, but that doesn't make it not possible.
Especially if we look at it as an inflation hedge. Ie the static group that stays in the market are continuously fed more and more dollars to buy the product.
A three person or some other static number market will not simply bid up the price of any non-depleting resource. It‘s not reality. If you want to indulge in some fantasy and say it’s possible, that’s your choice, but markets don‘t function in that manner. Which is why your fantasy isn’t possible.
I have no idea what you’re talking about now. We were discussing crypto, not money supply. This exchange is cluttering the thread at this point, though, and not adding any value.
BTC is not like stocks because stocks have underlying fundamentals such as earnings and sales which help determine valuation. If BTC advocates were onboard with the $100K 2021 target they should be willing to sell their left nut to buy in at $35K. And where are all the HODLers now? This latest crypto move down goes to show you that clowns like Novogratz belong behind bars. They were screaming $100K from the rooftops last Fall to pull in poor suckers driving BTC to $67K and since then it’s fallen off a cliff. Amazing how the $100K crew hasn’t shown their faces on CNBC lately.
How is money supply not a relevant point in a discussion on the price of crypto?
You understand that this reply is nonsensical and has nothing to do with my post, right? No matter the topic at hand, your reply is always the same I Hate Crypto silliness. I see that you checked about 4 of your typical talking points.
Perhaps that can be a new game! Guess how many boxes Aldo can check on every reply. The loser drinks! LOL.
My man, you are the same guy that pushed crypto down everyone’s throats while sucking off Boblaw, and then sold off a chunk of your crypto portfolio without even mentioning it until long after the fact. You loved CW/ARKK at $160. You loved the Tesla $3000 call. You loved BTC $100K EOY. You loved FPAC. You swore there would not be a market correction with perpetual ATHs, and the 3LBs were nothing but paranoid know-nothings. I could go on. What have you offered to the group other than cut-and-paste jobs and terrible advice? Let’s hear some real original ideas instead of regurgitating Morningstar. On the stock thread, you slammed the “3LBs” to no end only to then re-vamp your entire stock portfolio with 6-8 stocks that fundamentally align with just about everything the 3LBs said. Just say “thank you” and don’t be so argumentative. Or, if you want to argue, come up with your own theories and ideas instead of posting fake YouTube videos. Seriously, it takes a real d-bag to shit on folks that have basically given you a crash-course in investing 101.
I’ll tell you this much, I’m more than happy to leave this thread if it’s nothing more than a pro-crypto circle-jerk. Many of you guys talk about projects/platforms like Cardano and Solana and have not a f’in clue what those projects even entail or why there isn’t a Fortune 500 company in the world that would ever integrate with them. No CIO, CPO, CSO, etc. is going to build critical company infrastructure or products on a DeFi platform where developers/engineers are located all over the globe and there are no contractual protections. Without commercialization opportunities these platforms are going nowhere, especially since 99% of the people in the world don’t give a rats-ass about decentralized finance.
Still alive, still buying. Pains me to see these numbers and the coupling with the stick market, but what are ya gonna do.
As I told a weary friend (this is his first real drawdown) if youre not buying now just fn sell and get out. I have had zero spare time to do technical analysis, therefore I've been a ghost. I'm not going to come here and chirp for the sake of chirping.
Anyway, all I can share is that I dont think the bottom is in; especially on alts and eth. I was hopeful the 40k floor would hold for btc, but clearly that fell through. We'll see how this month plays out. I remind everyone how a yr ago byc hit 40k and everyone lost their minds. We're seeing the inverse, where its paranoia.
Anyway, I've doubled my weekly recurring buys in the last 4 weeks. The drawdowns are neauseating but to me its 2 for 1 btc off the peak. Just as I regret not buying more at 7, 10, or 15k, I'm confident I'll regret not buying more at 35k
Didnt watch that video,, but Anthony Pompliano is one of the most dynamic young people in business news today. He is well researched, well spoken and a great interviewer. He clearly is extremely pro btc. What I give him credit for the fact that he's not just a cheerleader. He has technical analysts on 2x a week. Interviews bloclchain developers, btc developers and so on. He's someone I always point people towards if they're mulling getting into btc.
Thanks! And great to hear from you. I sold my ETHE and now totally out of Grayscale (sold on 1/3 prior to the dump). Good timing via dumb luck. Looking to recreate my ETH position on Coinbase soon. I agree with you, ETH and Alts have some more to go.
+1
Aldo is going wild. As per his post last night, he is angry that Marvel Eternals was so bad. LOL! But we all like him. He's a good guy.
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I am glad more people are calling him out. He has been spewing garbage for a while now. He has made so many inconsistent statements, it is nauseating. "I am all about ETF's". "I don't want to buy TSLA, but will buy ETF like DRIV". "I am 100% invested in the market". "Now I am into crypto, but only a very small amount of money, aka play money". " I plan on holding crypto assets until my child is 1000 years old". "I sold my crypto (mind you.. only a small fraction of his supposed portfolio), but used that money to buy a TON of stocks". "Oh, I still own crypto, I just converted it from grayscale trusts to actual coins". These are just some of his statements. There would be more respect for you if you stayed humble from time to time and spoke consistently. I guess it is hard to keep up with the lies.
I think what he is telling you is that a finite number of people cannot keep raising the price of bitcoin. Someone has to lose money in the group. Think of it as a poker game.
Bob-loblaw = Good to hear from you. Since I’ve apparently been branded the resident crypto-hater I must ask. If you can’t do technical analysis and there may not be a bottom in sight, why continue to buy? You don’t strike me as a gambler, but then again just buying based on a general belief that crypto is the future and will go up in value is an incredibly risky proposition. I, personally, don’t see any short term catalysts, although many people I know feel they must double-down now because they’ve lost so much money since the $67K run-up. On that basis I figured dip-buying would push it back to $40K and it would stabilize. But BTC has not responded. And the BTC charts look nothing like gold and gold miners, which have held up well during the recent market turmoil. Are there any short or long term crypto catalysts?
Best bet is to sell Crypto for a loss to get the tax writeoff for 2022 and then just buy back in...use it as part of a strategy
Don’t forget Mr. ATH also apparently has/had two $100K CDs. What perma-bull that screams ATHs from the rooftops, that believes the market only goes up, holds two $100K CDs in his investment portfolio?!?! I don’t even know what CD rates are like these days, but what do you get like 0.85% APY? My 75-year old mother buys CDs.
I think the wash sale rules still don't apply to crypto. This was in the BBB bill that didn't pass, right? Not 100% sure.
I’m sure you’re not a bad guy but a little humility at times would be great. I’m no expert but I’ve been at this game a long time. I do a lot of independent research, which is why I don’t watch YouTube investment videos or pay much attention to talking heads. There wasn’t a single YouTube video that would have told you to buy AT&T back when it was completely out of favor. Now, as long as the WM/Disc deal goes smoothly and there are no unforeseen issues, it will have been one of my better investments in the face of a terrible market.
But there were a bunch of people on a college sports online board telling others to buy AT&T when it was out of favor. 😁
So what's the difference? People talk and give opinions regardless the form it takes. YT definitely help my double me money via crypto. Get opinions, look up info and data, and make your own decisions.
My point was that I brought AT&T to the message board as an investment idea based on fundamentals, dividend, and WM/Disc upside = and you immediately shit all over it. Didn’t even give it a chance. Yet, you don’t offer any ideas. You simply cut-and-paste videos and tear people’s ideas apart. If you go back through the history of this thread you will find the 3LBs actually know what they are talking about.
But if I listened to the LB3s I would have missed the greatest buying opp of this generation, March 2020. So everyone has their swings and misses. I was right that it was a temporary/artificial drop.
I offer plenty of ideas. What about ETH? I gave plenty of facts and rationale for its growth in 2021, but you torn apart this idea time and time and time again. My ETH investment almost 3x'ed. I talked about buying big tech last March and May, including TSLA which is still way up for me (still almost double). So I give out plenty of successful ideas.
I'll be more openminded if you do the same.
See, this statement shows me you simply don’t listen to anyone that doesn’t have a YouTube channel. The LB3s didn’t miss out on any opportunities. Aside from cash reserves, I’m 100% invested in the market and have been for 20 years. The LB3s tried to educate you on taking a more tactical approach to investing by focusing on fundamentals, sector rotations, inflation hedges, calculated risks, etc. And if you spent a few minutes to go back through this thread you would cringe at many of your amateur-hour posts.
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