The only certainty about crypto. It is programmed to go to zero.
This is the Coinbase chart. You guys keep crashing the app. Happy days for the OG scammers and the late scammers like Saylor. Blackrock chose to bail them out with retail money, for some reason. Happy days.
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I like crypto(minus the cult). It's here to stay. There are some uses for it. Mostly for fun but there are some things touching reality. There are also promising projects similar Bitcoin but superior in technicals, like Monero. Private, sustainable, has the ability to stay decentralized, fairly fast and cheap to move with minimal security risks. We can try them at least. But Bitcoin is a waste. I'm sorry but it has become a litmus test for mental illness.
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If you believe the illness will rule the world, that's fine :D I bet it will be cured sooner than most think.
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Fun is an important element in all this you should realize. Crypto for the most part, is a game only the smartest survives. And meanwhile some people manage to have some fun. We all love gambling and it's ok. This is the reason I've been constantly talking about the greatest memecoin rally ever. Because we are probably very close to the endgame so we should maximize the fun :D
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I've tried shorting Bitcoin a few times with strict risk management and obviously it didn't work. Meanwhile I've been trading some altcoins with bullish bias, they worked great so far. I've been a relentless buyer of some memecoins. I suspected specifically buying DOGE(Bitcoin of the honest memecoins) was the best way short Bitcoin. It worked and I suspect it will continue to work for some time.
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Bitcoin will give the major short signal. Until then this is the way.
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The digital gold narrative is so hilarious if you think about it. In a world gold doesn't exist:
-"Mom, I invented something that is valuable just because it is scarce but I don't know what to call it. "Digital something" but I don't know what it is. It has innate value for some reason but I don't know why. And btw it requires a ridiculous amount of waste to function and it gets worse over time but I guess that's OK. Oh, and it requires a religious community or it can quickly become insecure and totally collapse. I guess it would work as long as the government keeps printing. What do you say?"
+"Shut up and eat your salad Ash (Satoshi from Pokemon)."
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And Satoshi goes:
"HFSP"
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Think about how dangerous this is, if there is even a slight chance of this happening. They rescued Bitcoin from 80-90% drops so many times before, people will buy all the way down. 60k, ok retest. 50k, ok correction. 40k, ultra mega super cycle correction around the halving. 30k, the big retest. 15k, macro double bottom. Fall of Bitcoin can literally cause civil wars.
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And fall of many "genius" fund managers of course. It is already a systemic risk.
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At the core level, I honestly feel like believing we'll get rid of these bubbles without much harm depends on my belief in humanity. Maybe I'm seriously wrong about that belief. Maybe we're just being as stupid as possible knowing that we are already dead.
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The digital statue of idiocy. Either cry about it or listen.
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Never in human history has there been such an emotional financial asset. So bullish on crying Bitcoin understanders below this post.
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Don't panic. Saylor will do this on TV tonight and clean up the situation.
Just admit it, you CAN imagine Saylor in this position. Same vibes but just not so obvious.
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If it was a really good idea, he would just buy and sit quietly.
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The amount of likes worry me :D Look they can somehow pump it even above 150k. Won't change the fact it's useless, worthless, doomed, controlled by a group of malicious people.
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I guess this is somehow surprising for some people but I trade only charts. Crypto is a great for this. Not news, not fundamental analysis, not this not that. This is why I am not short Bitcoin and long alts. My ideas here have categories. Some just shitposting. Some myths and fundamentals mixed with shitposting. Some pure TA etc. This is fundamentals mixed with shitposting.
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Memecoins are not harming crypto. They are fixing it. Only one of them harms and that is Bitcoin.
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I’m actually not aware of all the drama about these versions of Bitcoin. I happened to learn a little in the last few weeks. I just looked at Bitcoin chart and said “Ok this is not good” Looked at DOGE chart and said “This is super interesting might be super bullish.” Then looked at Monero chart and said “This might be really really good but need some proof.” Then looked at the technology of Monero and saw that they have some really interesting proposals for an actual crypto currency to say the least. All this happened just in a few months. I like myths supported by charts(money). So it’s interesting it was actually charts that dragged me into this rabbit hole :D
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Honestly, yes I've been talking about the meme mania months ago. Bought the bottom of PEPE DOGE WIF etc but it's becoming something else :D It is absolutely insane. It is definitely a thing of short attention span gen. Good news is that they know what they are doing. This is a relief.
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Trading crypto with the realization that it should be burned to the ground is the edge. Few.
@Shurton66, For sure. Lazy and ill-informed. Any clown can draw squiggly lines going down on a chart. Gold is going to zero. lol.
Icebrg
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@LouisRepucci, Gold is used in almost every electronic device in the world, it is not going to zero.
dbielecki82
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@Icebrg, So what, just as almost any other metal on the planet. "Being used" argument is just as flawed as it can be. You know what is also used? Iron, somehow it didn't end up being a store of value :D But hold on central banks actually make "coins" from other metals that represent a value, so that must be it, long bras and nickel lol The only reason gold is viewed this way, is because people pumped it to this status millennia ago, but is it really gold when you look at a virtual index? They value it at 2k, and what exactly has that value because for sure not the metal itself. You would be surprised what would happen when all those virtual gold holders asked for delivery, it would actually go to zero because there is not enough real deal to cover all those positions. People who hold gold index in reality hold an empty bag. Is real gold metal really a store of value? Maybe, if someone actually want's it. If today World War started some store of value would be food, because you can't eat gold.
LouisRepucci
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@Icebrg, Exactly my point. Claiming gold is 'going to zero' is as crazy as claiming 'bitcoin is going to zero.' See the 'lol' after the sentence? It connotes sarcasm. Catch up, bro.