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Author Topic: Lose all your capital fast, with MatTheCat and his TA 101A!  (Read 85740 times)
MatTheCat
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September 07, 2016, 05:57:23 PM
 #1021

That's why he tells people that bitcoin is doomed while at the same time managing to lose money on huge rallies.

Didn't lose money on the huge rally. Made money on the huge rally, albeit not as much as I might have done, although, had I just bought at $470, and held right right through until today, then I would still have the same profit level as I ended up taking from the market anyway.......except I wouldn't have, cos my accounts would have been wiped out by some bunch of thieves operating within the big exchanges.

I didn't lose money on the big rallies, I lost money by having the exchanges one way or another, plunder my accounts.....

.....like I say, counter party risk n all that.

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September 07, 2016, 08:38:14 PM
 #1022

That's why he tells people that bitcoin is doomed while at the same time managing to lose money on huge rallies.

Didn't lose money on the huge rally. Made money on the huge rally, albeit not as much as I might have done, although, had I just bought at $470, and held right right through until today, then I would still have the same profit level as I ended up taking from the market anyway.......except I wouldn't have, cos my accounts would have been wiped out by some bunch of thieves operating within the big exchanges.

I didn't lose money on the big rallies, I lost money by having the exchanges one way or another, plunder my accounts.....

.....like I say, counter party risk n all that.
And here, class, we have a perfect example.

Mat is insinuating that he keeps a lot of his money, fiat and crypto, on exchanges. This is, of course, a completely retarded thing to do and the only reason he suggests it is to further his narrative, that being: Bitcoin is insecure and Mat is a perpetual victim!

However, he might still keep a percentage of his holdings there, even if not all of it. This is because, as noted above, he has a pathological need to remain in the victim role. In setting himself up to be robbed, for example by deliberately having weak account security (as he himself, some might say proudly, explained all about recently), and then waiting for someone to come along and guess his password of 123456, he stays in the victim role and feels vindicated in proclaiming bitcoin to be one huge scamfest.

This is the opposite psychology of what we commonly term "normal". There are people out there who will deliberately hurt themselves, simply for the sake of dragging even one of us down with him. They are what older and wiser people termed Evil.


Look inside yourself, and you will see that you are the bubble.
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September 07, 2016, 10:01:20 PM
 #1023

And here, class, we have a perfect example.

Mat is insinuating that he keeps a lot of his money, fiat and crypto, on exchanges. This is, of course, a completely retarded thing to do and the only reason he suggests it is to further his narrative, that being: Bitcoin is insecure and Mat is a perpetual victim!

However, he might still keep a percentage of his holdings there, even if not all of it. This is because, as noted above, he has a pathological need to remain in the victim role. In setting himself up to be robbed, for example by deliberately having weak account security (as he himself, some might say proudly, explained all about recently), and then waiting for someone to come along and guess his password of 123456, he stays in the victim role and feels vindicated in proclaiming bitcoin to be one huge scamfest.

This is the opposite psychology of what we commonly term "normal". There are people out there who will deliberately hurt themselves, simply for the sake of dragging even one of us down with him. They are what older and wiser people termed Evil.



ha ha...wot an uptight bitter cunt u are.

Kraken Account, Robbed/Emptied. Kraken say "Fuck you, its your loss": https://bitcointalk.org/index.php?topic=1559553.msg15656643#msg15656643

Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
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September 08, 2016, 03:26:45 AM
 #1024

And here, class, we have a perfect example.

Mat is insinuating that he keeps a lot of his money, fiat and crypto, on exchanges. This is, of course, a completely retarded thing to do and the only reason he suggests it is to further his narrative, that being: Bitcoin is insecure and Mat is a perpetual victim!

However, he might still keep a percentage of his holdings there, even if not all of it. This is because, as noted above, he has a pathological need to remain in the victim role. In setting himself up to be robbed, for example by deliberately having weak account security (as he himself, some might say proudly, explained all about recently), and then waiting for someone to come along and guess his password of 123456, he stays in the victim role and feels vindicated in proclaiming bitcoin to be one huge scamfest.

This is the opposite psychology of what we commonly term "normal". There are people out there who will deliberately hurt themselves, simply for the sake of dragging even one of us down with him. They are what older and wiser people termed Evil.



ha ha...wot an uptight bitter cunt u are.
I sincerely hope you didn't take a major hit nor continually keep your money on exchanges after the fact. That said, he smoked you like a joint and you need to own up to it.
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September 08, 2016, 04:58:11 AM
Last edit: September 08, 2016, 05:20:50 AM by STT
 #1025

That would be Munchhausen by proxy syndrome where somebody who normally would be expected to take care of somebody in their charge intentionally causes them harm and so gains attention indirectly and sympathy for the pain or even fatal loss inflicted.    Sounds like a tv story line but Ive heard of a few cases on the news.  One movie I remember, Sixth sense had part of the plot involving something like that, google it if you like

Ive no idea if thats the case here just sounded familiar, sorry carry on :p



Quote
Gold isn't like that. Gold is gold. Gold is real wealth right down to it's very core, always was and always will be

Gold has counter party risk quite often.    The most frequent debate has been around GLD or the Exchange traded fund for gold holding which became quite massive.   Some insisted the fund was not actually able to produce the gold it intended or stated it was in control of for its investors.
A very common argument is around options for gold which most definitely are not traded in proportion to the amount of gold required for physical settlement, so the price can get ahead of actual gold on market available.     People are always going about the derivatives bomb which is mostly bs since most options expire worthless and not settled for delivery but anyhow gold and the other commodity's do have counter party risk.   Thats just normal and nothing bad happens most of the time.

Its really good starting point about currency in general, fiat and monetary expansion I guess.   Fractional reserves rely on creditors not recalling funds, seems similar to counter party risk to me.   Its tied to Bitcoin because dollar of course is very leveraged and indebted, at one time dollar was tied to gold and called out by some countries as exceeding their ability to pay.   That problem was solved by removing any right to actual payment, only settlement vs taxes is ultimately the worth of US dollar now.
   When or if dollars fails its counter party test, it will then bring bitcoin and every other modern alternative to the worlds largest reserve currency to the forefront.  It will be tested for efficiency to transact and ability to hold worth until a replacement for global reserves is found.   Could be the test is already under way, I think dollar has already exceeded its ability to pay but its politically supported for now

http://www.rapidtrends.com/history-of-fiat-and-paper-money-failures/


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September 08, 2016, 11:22:28 PM
 #1026

I'm a paranoid and distrustful person, so I don't and haven't kept any value on any exchange or even coinbase for the last couple years. However, I can certainly understand why people do - to trade. How can it be possible to make any forward progress if you can't set sells and buys at certain levels? the market moves way too fast to see a dump happening, get btc on an exchange (forget fiat, that's like sending a fucking wire transfer that takes ages) and take advantage of it. I'm not excusing Matt and his trading skills, I'm simply questioning any notion of being able to trade without keeping fiat and btc on an exchange. You can't do it. Period. Now, if you are still a lucky bastard who paid a buck or less for each btc and keep them in cold storage, go fuck yourself - you don't have the right to criticise someone not in that boat.
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September 09, 2016, 08:13:33 AM
 #1027

Now, if you are still a lucky bastard who paid a buck or less for each btc and keep them in cold storage, go fuck yourself - you don't have the right to criticise someone not in that boat.

Keep pretending that all it took is some "luck" to understand Bitcoin early enough and hold tight that long.

Besides, Mat has known about Bitcoin long enough to have been in that boat... which clearly illustrates that it takes more than luck.

Regarding trading: Speculation is 20% of the traders making money off of the other 80%. If you can't spot the sucker at the table...

If you aren't the sole controller of your private keys, you don't have any bitcoins.
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September 09, 2016, 12:53:47 PM
 #1028

Regarding trading: Speculation is 20% of the traders making money off of the other 80%. If you can't spot the sucker at the table...

I like that line a lot. Think I'm going to nick it, for use in future discussion. It can even be seen as a succinct way to capture why some people believe in the EMH even though technically the EMH is unlikely to be true, universally - it's probably true for the majority, so it makes  sense for them to stick with the claim.


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September 09, 2016, 02:13:07 PM
Last edit: September 09, 2016, 02:26:23 PM by Paashaas
 #1029

1. Buy a Trezor.

2. Use an exchange where you dont need to move fiat ore coins to it. Eat that small extra free for each trade fore more secure trading. (I've never ever moved 1 singel coin ore $ to an exchange fore almost 3 years Shocked. When i buy BTC i get the coins almost instant in my Trezor and when i sell i get my money the next working day. If i pay them $7  then i get the money within 60 min)

3.Buy low sell high on decent down/upswings, dont be to greedy  Kiss

4. Profits!

This is what i do and will do for many years to come and the results so far are great;

- My Bitcoin bag is getting bigger over time.

- Nobody can touch my coins.

- Making fiat profits.

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September 09, 2016, 11:42:48 PM
Last edit: September 09, 2016, 11:56:52 PM by chesthing
 #1030

Now, if you are still a lucky bastard who paid a buck or less for each btc and keep them in cold storage, go fuck yourself - you don't have the right to criticise someone not in that boat.

Keep pretending that all it took is some "luck" to understand Bitcoin early enough and hold tight that long.

Besides, Mat has known about Bitcoin long enough to have been in that boat... which clearly illustrates that it takes more than luck.

Regarding trading: Speculation is 20% of the traders making money off of the other 80%. If you can't spot the sucker at the table...

You missed my point, which is you have no hope of any "trading" success without keeping both fiat and btc on an exchange. I have no problem with early adopters, but they have no business criticising people who heard about btc after it's $1100 run for trying to improve their positions. I realize they had challenges back then when it was worthless, but it's a totally different game when a bitcoin costs hundreds of dollars.
And you are damn right early adopters were lucky. I never heard of btc before late '13/early '14. If I had heard about it and looked at it I may have seen it's value, but I'll never know. Those who found it and saw it are the only ones who had the chance. Stumbling upon it in the early days is 100% luck.
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September 10, 2016, 12:13:48 AM
 #1031

You missed my point, which is you have no hope of any "trading" success without keeping both fiat and btc on an exchange. I have no problem with early adopters, but they have no business criticising people who heard about btc after it's $1100 run for trying to improve their positions. I realize they had challenges back then when it was worthless, but it's a totally different game when a bitcoin costs hundreds of dollars.
And you are damn right early adopters were lucky. I never heard of btc before late '13/early '14. If I had heard about it and looked at it I may have seen it's value, but I'll never know. Those who found it and saw it are the only ones who had the chance. Stumbling upon it in the early days is 100% luck.

Well, I 'stumbled on Bitcoin' when it was still in single figures and did at one point have 177 BTC sitting in my wallet (bought for like $3.50 each or something), but then Intersango, the only UK exchange closed. Looked at Gox and Stamp and was like "passports, utility bills, bank details!?!?! No fkn chance!"......so I ended up spunking the lot on Silk Road. By the time I was seriously looking at putting around £1000 into Bitcoin, it was in double figures and approaching X-Mas 2012. I had a theory, that the Bitcoin price was driven by Silk Road demand (cos what other use was there for Bitcoin), and that therefore, after X-Mas and New Year, the price would go back down to single figures, at which point I would buy.....lol........but I think the fact that I am a fucking loser has been well established by now.

You have more than a point regarding the need for Bitcoiners to be able to hold Bitcoin and USD on exchanges. The exchanges is where the entire price discovery mechanism is. Bitcoin is only worth anything, because it can be easily converted for national currencies on these exchanges. If everyone took the advice of those who advise against trading on exchanges, then Bitcoin would be worthless.

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Bitfinex victims. DO NOT TOUCH THE BFX TOKEN! Start moving it around, or trading it, and you will be construed as having accepted it as an alternative means of payment to your USD, BTC, etc.
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September 10, 2016, 07:32:36 AM
 #1032

Nothing is sold on those exchanges except more promises for money and in theory value but in practise nothing is ever actually delivered except receipts for potentially some token of worth.    Ive heard this description of normal currency, its not true because the real power for price discovery can only rest with producers and consumers who are also supplying their labour in most cases so again are also producers and sellers.

That constant exchange of worth between actual people with real substance and worth to their actions, this is the price discovery.   If a billion people want to buy chocolate, it has worth and if its also traded on an exchange and chocolate mix is a tradable commodity then sure some fine tuning in the back rooms of factory mass production cost and sale is discovered perhaps.   The main dictator of worth of anything at all is people, the mass of an economy is billions not the few who decide a protocol in bitcoins case or the smart asses who ride market prices on exchanges internet or dollar based.    If a billion people decide chocolate is of no interest to them and they'd rather eat beef and rice then that is the final decision, no finesse on any exchange will discover otherwise



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glub0x
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September 10, 2016, 08:17:17 AM
 #1033

2. Use an exchange where you dont need to move fiat ore coins to it. Eat that small extra free for each trade fore more secure trading. (I've never ever moved 1 singel coin ore $ to an exchange fore almost 3 years Shocked. When i buy BTC i get the coins almost instant in my Trezor and when i sell i get my money the next working day. If i pay them $7  then i get the money within 60 min)


May i ask you where is this fantastic place?
 Looks like i'm not up to date anymore...

The cost of mediation increases transaction costs, limiting the
minimum practical transaction size and cutting off the possibility for small casual transactions

Satoshi Nakamoto : https://bitcoin.org/bitcoin.pdf
Paashaas
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September 12, 2016, 02:26:09 AM
 #1034

2. Use an exchange where you dont need to move fiat ore coins to it. Eat that small extra free for each trade fore more secure trading. (I've never ever moved 1 singel coin ore $ to an exchange fore almost 3 years Shocked. When i buy BTC i get the coins almost instant in my Trezor and when i sell i get my money the next working day. If i pay them $7  then i get the money within 60 min)


May i ask you where is this fantastic place?
 Looks like i'm not up to date anymore...

I dont know from witch country you are but that fantastic place is https://bitonic.nl/en/, located in The Netherlands.

Torque
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October 06, 2016, 03:15:39 PM
 #1035

So... how's that Gold price been working out for ya lately, Mat?  Grin
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October 07, 2016, 08:04:09 PM
Last edit: October 08, 2016, 09:22:08 AM by r0ach
 #1036

So... how's that Gold price been working out for ya lately, Mat?  Grin

Silver is gonna be a +10-20x when the debt markets implode so it doesn't really matter where you buy it at.  Maybe far higher, depends if the value of the fiats reaches zero or not before being transitioned to something else.  

If they actually imploded to nothingness, all metals and bitcoin holders are getting a giant wealth transfer from everyone else, but productive capacity would crater so you'd not be able to find lots of items no matter how much money you have.  There will be a lot of dirt cheap real estate, cars, boats, houses, etc, though.

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sandiman
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October 08, 2016, 09:40:30 AM
 #1037

So... how's that Gold price been working out for ya lately, Mat?  Grin

Silver is gonna be a +10-20x when the debt markets implode so it doesn't really matter where you buy it at.  Maybe far higher, depends if the value of the fiats reaches zero or not before being transitioned to something else.  

If they actually imploded to nothingness, all metals and bitcoin holders are getting a giant wealth transfer from everyone else, but productive capacity would crater so you'd not be able to find lots of items no matter how much money you have.  There will be a lot of dirt cheap real estate, cars, boats, houses, etc, though.

Any other doom shitty speculation to provide us?

They say that world we be destroyed by aliens before 2019, will bitcoin and other safe heavens go higher ??  Tongue Tongue Tongue
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October 08, 2016, 11:25:05 AM
 #1038

So... how's that Gold price been working out for ya lately, Mat?  Grin

Silver is gonna be a +10-20x when the debt markets implode so it doesn't really matter where you buy it at.  Maybe far higher, depends if the value of the fiats reaches zero or not before being transitioned to something else.  

If they actually imploded to nothingness, all metals and bitcoin holders are getting a giant wealth transfer from everyone else, but productive capacity would crater so you'd not be able to find lots of items no matter how much money you have.  There will be a lot of dirt cheap real estate, cars, boats, houses, etc, though.

Any other doom shitty speculation to provide us?

They say that world we be destroyed by aliens before 2019, will bitcoin and other safe heavens go higher ??  Tongue Tongue Tongue

The average lifespan of a fiat currency is 27 years and all economically incompetent individuals will soon figure that out.  The wealth transfer is inevitable, it's only a question of what percentage each alternative to them like metals and bitcoin get.  I don't know about you, but I'm front running the biggest bankruptcy in the history of the world - lot's of irredeemable paper IOUs with no cost to create. 

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MatDerKater
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October 11, 2016, 12:09:44 AM
 #1039

So... how's that Gold price been working out for ya lately, Mat?  Grin


Gold is real wealth Torque, right down to it's atomic, and sub atomic nature. It is the epitomy of the 'law of attraction' in the material world. Bitcoin is just another attempt at a convenient placeholder. I seen the gold dip coming, no big deal, been holding for years. One lesson I have been taught from getting a couple of my Bitcoin accounts plundered, is the danger of counter party risk. No matter what way you look at it, Bitcoin has counter party risk.

fwiw, I think that Bitcoin is set to make it's way up above $1500 eventually, but after the Kraken and then Bitfinex headfucks, I just can't bear to go near it now. Great profits to be made no doubt, but it is playing with fire. I shall stick with fiat to pay bills, and physical metals to store wealth.
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October 18, 2016, 02:40:38 AM
 #1040

So... how's that Gold price been working out for ya lately, Mat?  Grin

Silver is gonna be a +10-20x when the debt markets implode so it doesn't really matter where you buy it at.  Maybe far higher, depends if the value of the fiats reaches zero or not before being transitioned to something else.  

If they actually imploded to nothingness, all metals and bitcoin holders are getting a giant wealth transfer from everyone else, but productive capacity would crater so you'd not be able to find lots of items no matter how much money you have.  There will be a lot of dirt cheap real estate, cars, boats, houses, etc, though.

Any other doom shitty speculation to provide us?

They say that world we be destroyed by aliens before 2019, will bitcoin and other safe heavens go higher ??  Tongue Tongue Tongue

The average lifespan of a fiat currency is 27 years and all economically incompetent individuals will soon figure that out.  The wealth transfer is inevitable, it's only a question of what percentage each alternative to them like metals and bitcoin get.  I don't know about you, but I'm front running the biggest bankruptcy in the history of the world - lot's of irredeemable paper IOUs with no cost to create

If there is no cost, then what's the problem?

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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