YAY it's crashing and my long is still open. Thank god it's almost over.
if you are long, you want them to go up, right?
Nah I've already decided crypto is a shit investment. Maybe long term holding works for some but if you want a day trading experience it's expensive.
I'm not going to pull my money out though. I'd feel shame.
I will give it every chance it to redeem itself. But I'm just ready for it to end. I want it to either die hard or give me my money back ASAP. I will continue to try to "make money" fight the good fight. But really i'm tired of this game. It just looks like a ponzi scheme to me. But before I was playing computer games, at least now i've gotten a new hobby to kill time.
FYI I'm actually invested in Litecoin, I was making it not so bad back with bitcoin, and would have maybe broke even in fact, but I saw litecoin as a shortcut when it went up 4 dollars in a month.
Now Litecoin does exactly what Bitcoin does, & is not going up like it used to. That litecoin boom was and still IS a ponzi scheme. Litecoin is the shitcoin. Don't fuck with it.
But i'm a fighter so It's all or nothing for me. I'll gladly take nothing if only to move on with my life & stop wasting time circling my pathetic investment. lol.
The value to me is having learned quite a bit about economics.
Not everything, but allot more that I used to know. So i've gotten a good education, and I know the cryptocurrency thing is a dud, unless perhaps you're an experienced trader and know the market very well. There is quite a bit to learn and it's a 24/7 job.
Some Chinese turds have my money and they control the market. Chinese are the most devious people on earth. They are cunning. I live in China now, it's a "me first" greed fest from what I can tell, but then my Chinese isn't so good. Otherwise they are not such bad people. But they want money and authority with a passion, it's a nationalistic thing and unconscious passion just like everyone else.
Unless I can somehow reverse this death spiral, and which I will try, but highly doubt, I consider crypto a no-go, unless using it perhaps to transfer money in very tight periods of time.
BUT It's simply not a good investment from a layman's perspective, because it's expensive and complicated to buy, you have to go through 2 or 3 middlemen just to get it, then 2 or 3 middlemen to use it. It also depreciates allot more than it appreciates. If for example I asked my boss to pay me in bitcoin i'd be in bigger straits than with fiat.
It's just a stupid game / experiment to me. I'd never put in money I actually need to survive in this ridiculous ponzi scheme.
But I liked the idea of Bitcoin. But I kinda agree with Snowden. It's obviously flawed.
Death can be a relief. So either way i'm happy.
I await my margin call...
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