My brother made a handsome profit buying Bitcoin early/mid 2017 and selling them again at the start of the first crash (end 2017).
So I got interested in the 'bitcoin story' and did my research on the matter, and it's a fascinating journey in human psychology. Actually my understanding of how it works and not being fooled by use of terms like 'blockchain-secured' and other fancy lingo to sell the stuff, refrained me from also stepping into it. On hindsight I would have made a fortune when buying Bitcoin then, but I gravely under-estimated the appeal of 'Quick Money' and 'Fear of Missing Out' on those that do not understand the basics - or rather the lack of it - and thought that the inevitable crash would come much sooner. I was wrong, just like I was wrong in thinking that the undeniable evidence of the covid-vaccine lies would have resulted much earlier in a wake-up of the conned.
Let me be clear: the enormous gains that were and are being made with Bitcoin and other cryptocurrency, are indeed real for some and they act as a powerful magnet to attract new 'investors'. But basically the whole thing is a very smart Ponzi-scheme, a pyramid structure that requires constant influx of new entrants and their cash. And like in any pyramid scheme, it are only the early entrants or in this particular case those that know how to 'play the system' that will make a killing. And their gains are of course the losses of the last entrants. So in the end, I don't regret not stepping into it, because my profit would be at the expense of people losing their money.
That is true. My ex the father of my older daughter invested in Bitcoin in 2011 not long after we broke up. Unless he was incredibly stupid with money (and he never was stupid with money) he should have made out quite well in the deal. But wading in recently looks like a confusing mess The last bag holder same as it ever was..
"I say that because it was written a little while ago and he thinks that if the $20,000 bitcoin price floor doesn’t hold, that’s when carnage will start."
------
I genuinely never understand these pronouncements and it feels like people just pulling shit out of their ass to try to put some illusory "parameters" on unknown events.
I like arbitrary lines put out by pundits because at least then you have a benchmark to gauge predictions to. In government though they tend to be handsomely rewarded for being spectacularly wrong
I think computer based algos or chickens pecking at your keyboard could be more accurate on some of these. It seems that the virtual class is the most expendible in a sane world
I think btc could go much lower with a few more black swan events, controlled demolitions of crypto ponzis, and other financial market meltdowns. The powers that be want to shake faith in btc and crypto so that people are gagging for the CBDCs. Ultimately, this latest joke shop with FTX will have the big dog investors wary of scammers and centralized exchanges. It may be good for DEFI and in particular decentralized exchanges.
another thing i can't wrap my brain around is that if the crypto space is dominated by market makers, isn't an individual investor going up against the blackrock machine all over again? you'd think they'd want to feed the beast on whatever market data, wherever, right?
Hilariously he wasn't the one who actually scammed me he needed identity verification told me they couldn't work with US citizens and ultimately did reveal that funding the account from me probably wouldn't work. The scammer was actually a woman with a US or Canadian accent, a pretty blond based on Facebook photos. Beware of the pushy ones
"Or does it just need to get the kinks worked out?"
There are no kinks to be worked out!
The digital currency experience FAILED the day the users decided to use paper-fiat-money to buy digital-fiat-money.
One digital currency experience that will obviously NOT FAIL is the CBDC's. After all it'll be the Owners newest tool to keep the modern slavery going and move it to the digital realm.
Just imagine the stuff they can FORCE the herds of modern moron slaves to do once they deploy digital-fiat-money and the central bank digital wallet?!
Just look at what they were able to do since March 2020 without that type of CONTROL.
Prediction: Bitcoin won't ever reach it's ATH in gold ever again.
I think the cryptocurrency winter will be brutal, last years, and eventually after enough people learn about what worked and what clearly didn't I expect entirely new concepts to rise to prominence in what hopefully ends up being a cryptocurrency renaissance.
I make no guarantees about being right, but this is how I see it from the present.
I tend to concur. There were good things about the idea but I think it A: Needs to be tied to something in the physical realm (like gold) that allows non digital exchange and B: Needs to be used for exchange
Bitcoin may or may not go down but the man behind the FTX fraud will walk away with a wrist slap, just like Jon Corzine. The man behind FTX is a mega democratic donor whose mom (Barbara Fried, Stanford Law professor) runs a mega million dollar pac for dem candidates.
If it is determined that Sam Bankman-Fried misappropriated funds then those donations must be returned to a restitution fund.
Thanks for linking to my article, Amy. In the coming weeks, I will be writing more about the Lightning network as a tool to fund dissident creators with micropayments.
My brother made a handsome profit buying Bitcoin early/mid 2017 and selling them again at the start of the first crash (end 2017).
So I got interested in the 'bitcoin story' and did my research on the matter, and it's a fascinating journey in human psychology. Actually my understanding of how it works and not being fooled by use of terms like 'blockchain-secured' and other fancy lingo to sell the stuff, refrained me from also stepping into it. On hindsight I would have made a fortune when buying Bitcoin then, but I gravely under-estimated the appeal of 'Quick Money' and 'Fear of Missing Out' on those that do not understand the basics - or rather the lack of it - and thought that the inevitable crash would come much sooner. I was wrong, just like I was wrong in thinking that the undeniable evidence of the covid-vaccine lies would have resulted much earlier in a wake-up of the conned.
Let me be clear: the enormous gains that were and are being made with Bitcoin and other cryptocurrency, are indeed real for some and they act as a powerful magnet to attract new 'investors'. But basically the whole thing is a very smart Ponzi-scheme, a pyramid structure that requires constant influx of new entrants and their cash. And like in any pyramid scheme, it are only the early entrants or in this particular case those that know how to 'play the system' that will make a killing. And their gains are of course the losses of the last entrants. So in the end, I don't regret not stepping into it, because my profit would be at the expense of people losing their money.
That is true. My ex the father of my older daughter invested in Bitcoin in 2011 not long after we broke up. Unless he was incredibly stupid with money (and he never was stupid with money) he should have made out quite well in the deal. But wading in recently looks like a confusing mess The last bag holder same as it ever was..
"I say that because it was written a little while ago and he thinks that if the $20,000 bitcoin price floor doesn’t hold, that’s when carnage will start."
------
I genuinely never understand these pronouncements and it feels like people just pulling shit out of their ass to try to put some illusory "parameters" on unknown events.
I like arbitrary lines put out by pundits because at least then you have a benchmark to gauge predictions to. In government though they tend to be handsomely rewarded for being spectacularly wrong
If it's arbitrary, why not just put a bunch of numbers in a hat and pick one?
I think computer based algos or chickens pecking at your keyboard could be more accurate on some of these. It seems that the virtual class is the most expendible in a sane world
Max Keiser said BTC was going to go to 400,000!
https://news.bitcoin.com/keiser-bitcoin-price-alex-jones/
220,000 by the end of last year!
https://www.youtube.com/watch?v=PmEtVoF63IM&t=1s
It's Psychic Friends Network shit. 😹
I think btc could go much lower with a few more black swan events, controlled demolitions of crypto ponzis, and other financial market meltdowns. The powers that be want to shake faith in btc and crypto so that people are gagging for the CBDCs. Ultimately, this latest joke shop with FTX will have the big dog investors wary of scammers and centralized exchanges. It may be good for DEFI and in particular decentralized exchanges.
another thing i can't wrap my brain around is that if the crypto space is dominated by market makers, isn't an individual investor going up against the blackrock machine all over again? you'd think they'd want to feed the beast on whatever market data, wherever, right?
i only bank with pushy guys who speak in thick middle eastern accents
Hilariously he wasn't the one who actually scammed me he needed identity verification told me they couldn't work with US citizens and ultimately did reveal that funding the account from me probably wouldn't work. The scammer was actually a woman with a US or Canadian accent, a pretty blond based on Facebook photos. Beware of the pushy ones
"Or does it just need to get the kinks worked out?"
There are no kinks to be worked out!
The digital currency experience FAILED the day the users decided to use paper-fiat-money to buy digital-fiat-money.
One digital currency experience that will obviously NOT FAIL is the CBDC's. After all it'll be the Owners newest tool to keep the modern slavery going and move it to the digital realm.
Just imagine the stuff they can FORCE the herds of modern moron slaves to do once they deploy digital-fiat-money and the central bank digital wallet?!
Just look at what they were able to do since March 2020 without that type of CONTROL.
I've just made a new article about Lightning payments, with a video demonstration: https://mathewaldred.substack.com/p/a-demonstration-of-micropayments
Thank you!
Prediction: Bitcoin won't ever reach it's ATH in gold ever again.
I think the cryptocurrency winter will be brutal, last years, and eventually after enough people learn about what worked and what clearly didn't I expect entirely new concepts to rise to prominence in what hopefully ends up being a cryptocurrency renaissance.
I make no guarantees about being right, but this is how I see it from the present.
I tend to concur. There were good things about the idea but I think it A: Needs to be tied to something in the physical realm (like gold) that allows non digital exchange and B: Needs to be used for exchange
what's creepiest is how the limit on your card kicked in afterward!
Yes indeed!
Bitcoin may or may not go down but the man behind the FTX fraud will walk away with a wrist slap, just like Jon Corzine. The man behind FTX is a mega democratic donor whose mom (Barbara Fried, Stanford Law professor) runs a mega million dollar pac for dem candidates.
If it is determined that Sam Bankman-Fried misappropriated funds then those donations must be returned to a restitution fund.
They always walk away handsomely rewarded. Criminal
Thanks for linking to my article, Amy. In the coming weeks, I will be writing more about the Lightning network as a tool to fund dissident creators with micropayments.
Casinos are glitzy for a reason, even those that don't give out free drinks.