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Sell your crypto

Butler1000

Well-known member
Oct 31, 2011
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In all these scenarios, the currency is stable, and going to be there when you need it.

The truth is... it is incredibly volatile. Its value has made wild fluctuations, and may take a wild down turn.
So do many third world currencies. So does the Stock Market. Hell Canada's dropped 30 % to USD didn't it?

As to crypto I watch my portfolio dip 35% a few months ago. It is now sitting at +70% from my last buyin. Its going to get one more rise then dip sept 12th. Im planning another buy into one then.

Volatility is relative. Pull out and look at the yrmearly, 4 yearly and the patterns emerge. Watch for announcements and dates just like a stock and buy/sell behavior can be predicted.
 

fall

Well-known member
Dec 9, 2010
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So do many third world currencies. So does the Stock Market. Hell Canada's dropped 30 % to USD didn't it?

As to crypto I watch my portfolio dip 35% a few months ago. It is now sitting at +70% from my last buyin. Its going to get one more rise then dip sept 12th. Im planning another buy into one then.

Volatility is relative. Pull out and look at the yrmearly, 4 yearly and the patterns emerge. Watch for announcements and dates just like a stock and buy/sell behavior can be predicted.
Volatility can be measured by how much good and services you can buy with your assets. Currency is very stable. Crypro is very volatile. End of story.
 

Valcazar

Just a bundle of fucking sunshine
Mar 27, 2014
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Volatility can be measured by how much good and services you can buy with your assets. Currency is very stable. Crypro is very volatile. End of story.
Butler is saying it isn't a currency, though. He's admitting it in how he treats his buys.
Remember that all the "crypto will replace fiat because we've solved trust" and recycling of goldbug myths is just nonsense.
The people buying it as a speculative asset don't care about any of that except as a way to pitch it to people to keep the number going up.
 

fall

Well-known member
Dec 9, 2010
2,745
680
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Butler is saying it isn't a currency, though. He's admitting it in how he treats his buys.
Remember that all the "crypto will replace fiat because we've solved trust" and recycling of goldbug myths is just nonsense.
The people buying it as a speculative asset don't care about any of that except as a way to pitch it to people to keep the number going up.
If it is not a currency, then what is its value? It produces no goods and services. So, the only possible "value" is wealth storage. However, since it has no other uses and it is not a collectable item (there is only a limited number of baseball cards but everyone can own crypto), it does not provide any intrinsic benefit of ownership (as a pride of owning a rare painting). Furthermore, in the long-run it cannot grow in value at a rate above the economic growth rate, otherwise it will outgrew the total value of all assets in Earth. Can you incision people will buy Bitcoin given this expected return when risk-free inflation-adjusted real return bonds are available on the market? Bitcoin is a bubble, the question is when it will pop: in 1, 5, 10, 20, or 50 years? Butler looks at it from the individual investor's perspective instead of aggregating all current and future bitcoin owners and looking at total profit of all of them.
 

Butler1000

Well-known member
Oct 31, 2011
28,714
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If it is not a currency, then what is its value? It produces no goods and services. So, the only possible "value" is wealth storage. However, since it has no other uses and it is not a collectable item (there is only a limited number of baseball cards but everyone can own crypto), it does not provide any intrinsic benefit of ownership (as a pride of owning a rare painting). Furthermore, in the long-run it cannot grow in value at a rate above the economic growth rate, otherwise it will outgrew the total value of all assets in Earth. Can you incision people will buy Bitcoin given this expected return when risk-free inflation-adjusted real return bonds are available on the market? Bitcoin is a bubble, the question is when it will pop: in 1, 5, 10, 20, or 50 years? Butler looks at it from the individual investor's perspective instead of aggregating all current and future bitcoin owners and looking at total profit of all of them.
Yes it does. Look up VeChain and its client client list as an example if how it resolves Supply chain management.

And they just signed a 5 Year agreement with the Chinese to do it there.
 

Butler1000

Well-known member
Oct 31, 2011
28,714
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Butler is saying it isn't a currency, though. He's admitting it in how he treats his buys.
Remember that all the "crypto will replace fiat because we've solved trust" and recycling of goldbug myths is just nonsense.
The people buying it as a speculative asset don't care about any of that except as a way to pitch it to people to keep the number going up.
Its a store of wealth.
 

|2 /-\ | /|/

Well-known member
Mar 5, 2015
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In all these scenarios, the currency is stable, and going to be there when you need it.

The truth is... it is incredibly volatile. Its value has made wild fluctuations, and may take a wild down turn.
Yeah I expect it to go up somewhere to $100-130k then down to $30k range and then correct up again. However as more people come onboard and keep using it to buy goods and services along with institutional investors such as Tesla and SpaceX should reduce the volatility in the long term. Inflation and hyper inflation have fucked over many people in countries with corrupt governments and poor politics and why crypto intendeds to create a universal decentralized system. Not sure if bitcoin is or not the solution but we are starting the journey to get there. Through technological innovation and advancement the most optimal solution will emerge like water always tending to find the path of lease resistance and exploit all the voids.
 

|2 /-\ | /|/

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Mar 5, 2015
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Only one thing is unclear to me: why the value of bitcoin trust is measured in USD and not in bitcoins? The day when stores (including online stores) will set prices in bitcoin and will not change it daily as the price of bitcoin changes will be the day bitcoin can be considered a currency. But I doubt this day ever come.
It sets the price based on the most common currencies used by the people in that area or country. Eventually they will set up places that are only priced in bitcoin and you will need to adjust your fiat to purchase its goods and services but this will take some time. It’s also very volatile atm but this is expected to decrease the higher the market cap gets. If more countries start accepting it it’s only a matter of time. But yeah not many people are willing to use bitcoin for purchase because they have a very good intuitive belief it still has a lot of room to grow. Eventually it will stabilize however the point is we are still early and this will take time.
 

poker

Everyone's hero's, tell everyone's lies.
Jun 1, 2006
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Niagara
Yeah I expect it to go up somewhere to $100-130k then down to $30k range and then correct up again. However as more people come onboard and keep using it to buy goods and services along with institutional investors such as Tesla and SpaceX should reduce the volatility in the long term. Inflation and hyper inflation have fucked over many people in countries with corrupt governments and poor politics and why crypto intendeds to create a universal decentralized system. Not sure if bitcoin is or not the solution but we are starting the journey to get there. Through technological innovation and advancement the most optimal solution will emerge like water always tending to find the path of lease resistance and exploit all the voids.
Well... once upon a time people saw the value in social media and the good it would bring. The powers that be no longer controlled the gates of information, and the little guy could communicate and organize. It was what led to the Arab Spring, and revolts over autocrats and dictators.

Then, the autocrats and dictators... governments everywhere that were scared of revolt actually, studied this social media, and used against the people.... now big brother is using those same devices to spy on, and collect data from the little guy to use against him.

Trust me, we all saw the potential of Bitcoin. We also see what's coming next. It ain't freedom for the little guy to break away from Mastercard... I promise you that.
 
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|2 /-\ | /|/

Well-known member
Mar 5, 2015
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Well... once upon a time people saw the value in social media and the good it would bring. The powers that be no longer controlled the gates of information, and the little guy could communicate and organize. It was what led to the Arab Spring, and revolts over autocrats and dictators.

Then, the autocrats and dictators... governments everywhere that were scared of revolt actually, studied this social media, and used against the people.... now big brother is using those same devices to spy on, and collect data from the little guy to use against him.

Trust me, we all saw the potential of Bitcoin. We also see what's coming next. It ain't freedom for the little guy to break away from Mastercard... I promise you that.
Agree although the entity we think is big brother is just a smoke screen and it’s quite literally right in front of our faces. The big tech giants such as Amazon, Facebook, Google, Twitter etc... know more about us, our habits, and our private lives then our governments do and we give this information freely to them to use their services and they are actively social engineering us and our future generations. Just look at how brainwashed some people are around you and especially in here. They are also influencing language, history, and what gets learned. Now the question is who controls them, these tech giants. I don’t have the answer to that but believe not many people actually know this answer event though we have the obvious ones normally get blamed. Or are they actually the ones with this power and influence. The NA government is falling apart and I doubt they have anything to do with this. They do what they tell them. This is the same thing when police get blamed for everything the politicians are responsible for but they are the ones who get thrown under the bus and to pawn. As for other powerful governments like China and Russia this is another story and they are many level above then the joke of governance we have here and especially in the USA.
 
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|2 /-\ | /|/

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Oh look another round of FUD being fabricated by China is starting again like the last FUD campaign where the brought it down to under $30k.

“BREAKING: China’s central bank says all cryptocurrency-related transactions are illegal trib.al/TkRBSWy”

Ohh the fear uncertainty and doubt. Excuses me while I rush to my exchange and panic sell all my crypto 🤣

 

|2 /-\ | /|/

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How well did this post work out for you? 🤣🤣🤣

They still don’t know...gotta give it to them they have good gag reflex. 😭

"Fuck the truth, all that matters is the reality that we make people swallow."

 

sprite09

Well-known member
Aug 10, 2020
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How well did this post work out for you? 🤣🤣🤣

They still don’t know...gotta give it to them they have good gag reflex. 😭

"Fuck the truth, all that matters is the reality that we make people swallow."


get ready for the ride of your life ! we're in for a wild 4th quarter that potentially extends till 1st quarter of next yr!
 
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Valcazar

Just a bundle of fucking sunshine
Mar 27, 2014
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That's sort of an interesting video.
Kevin O'Leary says that if crypto could be regulated and tracked, all the big institutions would rush in.
But of course, the crypto evangelists absolutely hate regulation and have repeatedly insisted that regulating crypto would destroy it.

An interesting dilemma.
 

|2 /-\ | /|/

Well-known member
Mar 5, 2015
6,515
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That's sort of an interesting video.
Kevin O'Leary says that if crypto could be regulated and tracked, all the big institutions would rush in.
But of course, the crypto evangelists absolutely hate regulation and have repeatedly insisted that regulating crypto would destroy it.

An interesting dilemma.
I think this is eventually the faith of crypto’s future.

This is possible to have a sense of decentralization, openness and regulation.

Like in example ensure all wallets and transactions are tracked and tax individuals accordingly where they are legal citizens based on the countries taxes and laws. I thought all bitcoin wallets at least are tracked and you can see all the transactions publicly just based on address. This is the approach I am using each time I make a transaction. Always assume everything I do in bitcoin is recorded and public forever. Meaning if someone sent you crypto to your wallet you should be able to back it up or pay taxes based on some predetermined system if you can’t prove the wallets identity such as for tips.

However the open market determines its price and value and no one entity or the few can have control what happens to it or it’s direction. At least these are the principles I understand it to be heading towards.

Therefore if a country has unfair regulations people will just move towards countries that have favourable regulations until it pushes others to follow until a balance point is reached which will take time.
 

Valcazar

Just a bundle of fucking sunshine
Mar 27, 2014
27,523
48,738
113
I think this is eventually the faith of crypto’s future.

This is possible to have a sense of decentralization, openness and regulation.

Like in example ensure all wallets and transactions are tracked and tax individuals accordingly where they are legal citizens based on the countries taxes and laws. I thought all bitcoin wallets at least are tracked and you can see all the transactions publicly just based on address. This is the approach I am using each time I make a transaction. Always assume everything I do in bitcoin is recorded and public forever. Meaning if someone sent you crypto to your wallet you should be able to back it up or pay taxes based on some predetermined system if you can’t prove the wallets identity such as for tips.

However the open market determines its price and value and no one entity or the few can have control what happens to it or it’s direction. At least these are the principles I understand it to be heading towards.

Therefore if a country has unfair regulations people will just move towards countries that have favourable regulations until it pushes others to follow until a balance point is reached which will take time.
It is open but you can make it difficult to link a given identity to a given wallet.
There is a reason that the primary use case for crypto is still criminal activity.

The hardcore "Crypto will replace fiat because it is better" people pretty exclusively want to keep it unregulated because most of the so-called "advantages" for crypto disappear if you can't do illegal or unregulated things with it. The people just treating it as an asset class to speculate on are fine with it being regulated except for the ones who think regulation will make it crash because all the people using it for illegal or unregulated activity will leave and the price will crash.
 

|2 /-\ | /|/

Well-known member
Mar 5, 2015
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It is open but you can make it difficult to link a given identity to a given wallet.
There is a reason that the primary use case for crypto is still criminal activity.

The hardcore "Crypto will replace fiat because it is better" people pretty exclusively want to keep it unregulated because most of the so-called "advantages" for crypto disappear if you can't do illegal or unregulated things with it. The people just treating it as an asset class to speculate on are fine with it being regulated except for the ones who think regulation will make it crash because all the people using it for illegal or unregulated activity will leave and the price will crash.
I think that’s a common misconception. Criminals will just find other loopholes and ways to run their criminal activities even if this means through other crypto or fiat or gold or government or leverage or anything else.

Like Mr. Wonderful says there is trillions of dollars waiting for proper regulation to actualize in potential. Once proper regulation is in place it will attract institutional investors and discourage criminal activity in a particular asset and will find direct use case based on need like in that example provided in that video. There is many more potential opportunities waiting to be actualized and implemented with the right regulation. When Tesla lists bitcoin again this will give it direct value and validity. Same with SpaceX the world internet provider plus many others. This is why many of us believe we are still early and this will solve a lot of the issues faced with fiat today. I don’t want to see fiat go away completely, I want the market to decide.
 
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