Well, this is basically the problem I am talking about: people trade bitcoin because they try to make money but noone ask themselves a question: where this money come from? Which service bitcoin provide to have value? So far all the money are coming simply from more people buying, so, by definition, it is a ponzi scheme. There is little chance it becomes a value storage device (people will lose inters in it when its volatility become zero and return equal to inflation rate) and no chance it become money. So far noone proposed any theory how bitcoin (not the technology behind it) can create value - and the reason for that is it simply cannot assuming the 3rd world countries will get out of tehir pure economic conditions and dictatorship-type government. All this recent activity by big dogs is because there are lots of people who cannot see a big picture. Like with technical analysis, it is just a way to outsmart others in a big poker game. I never said that people cannot make money trading bitcoin - they can, but only when others lose even more. So, the total value of the bitcoin to economy is negative.
P.S. When I said nonsense about buying a dip: I meant noone knows it is a dip until the future. If everyone would have known it is a dip, noone would be able to buy because noone will be selling. Again, the question is: is Butler smarter then all these big dogs that are trading in volume and manipulate the market? Or is he a regular Joe in this game? I know I am a regular Joe, and I know that all people on TERB are too, but I also know that some people here do not know about it.
P.S. When I said nonsense about buying a dip: I meant noone knows it is a dip until the future. If everyone would have known it is a dip, noone would be able to buy because noone will be selling. Again, the question is: is Butler smarter then all these big dogs that are trading in volume and manipulate the market? Or is he a regular Joe in this game? I know I am a regular Joe, and I know that all people on TERB are too, but I also know that some people here do not know about it.