Torque
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May 16, 2018, 10:13:41 AM
Last edit: May 16, 2018, 11:14:15 AM by Torque |
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Careful not to get roached. I can see how that strategy might work out well but I wouldn't call that maxamalism, Maybe more like gambling especially to drop the full load. HODL and acquire because you understand and believe bitcoin is revolution seems more like maxamalism traits to me.
A Bitcoin maximalist believes that even holding bitcoin through the upsides and downturns, it still represents a greater long store of value than fiat. If you look at the averages for YoY return over a 3-5 year period, you would definitely find that to be accurate. So if you're not holding bitcoin at all, you're not a bitcoin maximalist. A Bitcoin maximalist also says, "Well if any other alt's only utility to me is some occasional or odd spending function that I can't currently do with bitcoin, then why hold that alt at all? What would be the point? Why can't I just trade for it if/when I need it, at the time I might need it?" In other words, holding alts makes zero sense if you believe that bitcoin is the superior store of value, the superior cryptocurrency period. Especially if you aren't even sure that altcoin is even going to be around in 1-2 years from now, or even 5 years. If you're holding some alt just to play lotto and hope it skyrockets so that you can sell it all, then you're just gambling. You're not serious about the future of that altcoin at all. Which is exactly what 99.9999% of shitcoin holders are doing. This is easily provable to be true, because all supposed shitcoin beliebers held exactly zero shitcoins before the Great Shitcoin Pump back in March 2017. No one cared about them. Like at all. They were derided as a bad joke. So a rising price alone doesn't suddenly give something greater value or greater utility. You have to look no further than the penny stock market to see that truth. |
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buyandhold
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May 16, 2018, 10:26:14 AM |
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Here's a philosophical question: Can you be a Bitcoin Maximalist and still have some pet alts?
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xhomerx10
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May 16, 2018, 10:34:20 AM |
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Interesting that the bitcoin (or crypto) lambo meme has some foundations in "fake" news.  Saddens me. I believe in this case, marketers simply used an existing trend. The foundations are based in Bitcoin created wealth rather than "fake news".  Really, I was trying to get at the question of the Lambos being planted at Consensus 2018, rather than the fact that real bitcoiners do actually buy Lambos when they are beginning to rake in the dough. Maybe also, I was joking too much, because I did realize that it would have been quite probable that some folks had invested less than $10k into crypto - even Ethereum in the single digits, and were able to ride various waves into Lambolandia. So, yes, there could be quite an appeal to have Lambos parked at these kinds of crypto events for marketing purposes, even when it ends up that those lambos are not owned by actual conference attendees. Personally, I would not even want draw that much attention to myself, in terms of having anyone know that I was able to get the lambo through crypto rather than some other way of getting it that would not draw so much attention to me as a possible robbery target. Good point. It's not a good idea in many areas to draw too much attention to your wealth unless you can also afford really good security. Even if I could afford the Lambo, I would rather help out my family financially. Now if I was stinkin' rich I might rent one just to drive it... ah, that's a pipe dream because that would also mean McAfee doesn't have to scarf down his wiener and beans. On a side note, the image I posted didn't look so large on my screen when I captured it. It looks like I was yelling but that wasn't my intention. |
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Torque
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The Lambo thing has become an in-joke that I really wish would go away.
The MSM likes the analogy and association because it paints Bitcoiners as petty and childish asshats. Kinda like Tai Lopez.
Lambos are better associated with the BCash and ICO/shitcoin crowd. I mean, Roger and CSW drive them, so....?
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Mister_Success
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May 16, 2018, 11:50:47 AM |
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The Lambo thing has become an in-joke that I really wish would go away.
The MSM likes the analogy and association because it paints Bitcoiners as petty and childish asshats.
Lambos are better associated with the BCash and ICO/shitcoin crowd. I mean, Roger and CSW drive them, so....?
Well said. Lambos are gauche symbols for the uncultured nouveaux riche who crave attention. Or for car people. Don't forget the world isn't black and white. It's been my dream to own a Lamborghini since I was a small child because I like them. No need for the hate. |
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Totscha
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May 16, 2018, 12:01:56 PM |
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The Lambo thing has become an in-joke that I really wish would go away.
The MSM likes the analogy and association because it paints Bitcoiners as petty and childish asshats.
Lambos are better associated with the BCash and ICO/shitcoin crowd. I mean, Roger and CSW drive them, so....?
Well said. Lambos are gauche symbols for the uncultured nouveaux riche who crave attention. Or for car people. Don't forget the world isn't black and white. It's been my dream to own a Lamborghini since I was a small child because I like them. No need for the hate. Not all BMW drivers are douchebags, true. But they all have to live with the stigma that was earned by the uncultured majority  Same goes for Lambo owners... Sorry  |
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Torque
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May 16, 2018, 12:44:34 PM
Last edit: May 16, 2018, 01:01:37 PM by Torque |
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It's hilarious to me watching the wealthy elites aimlessly flail around trying to improve the world's economies. They're in complete panic mode. But the recovery all hinges on one pivotal thing: the Western consumer getting back to over-consuming and piling on more debt, like they desparately need them to be doing. And that, my friends, just ain't happening. Like at all. Dead stop. And all the flailing around is powerless to jump-start it again. You can't 'force' people to consume against their will. https://fred.stlouisfed.org/series/M2V |
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Speculatoross
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this is not a bounty avatar
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May 16, 2018, 01:24:24 PM |
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Speculatoross
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this is not a bounty avatar
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Because i'm an idiot and didn't check the fud before re-posting this |
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Torque
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May 16, 2018, 02:06:34 PM |
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Funny how Bitcoin is not the only thing disrupting a stodgy, insular industry that haughtily classifies and defines "what is __________" to protect its own self-serving interests. https://www.theguardian.com/news/2018/may/15/has-wine-gone-bad-organic-biodynamic-natural-wineBut among wine critics, there is a deep suspicion that the natural wine movement is intent on tearing down the norms and hierarchies that they have dedicated their lives to upholding. The haziness of what actually counts as natural wine is particularly maddening to such traditionalists. “There is no legal definition of natural wine,” Michel Bettane, one of France’s most influential wine critics, told me. “It exists because it proclaims itself so. It is a fantasy of marginal producers.” Robert Parker, perhaps the world’s most powerful wine critic, has called natural wine an “undefined scam”.
Gee, sound familiar? |
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supertee
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May 16, 2018, 02:10:58 PM |
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Because i'm an idiot and didn't check the fud before re-posting this
3 Merits for self-recognition.  |
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Derpinheimer2
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May 16, 2018, 03:32:47 PM |
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That whale manipulator who makes the charts jump up and down 100's of dollars in minutes is back. Last time they did this for a few days, the price jumped from 7000 to 8000 in a half hour, IIRC. Makes me think we are heading towards one of two things:
A: Price jumps up $1000, continuing the pattern of smaller spikes followed by a huge one.
B: Price dumps below $7000, undoing the original mega-pump, but following the pattern of randomly jumping up and down.
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vroom
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a Cray can run an endless loop in under 4 hours
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May 16, 2018, 04:01:15 PM |
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That whale manipulator who makes the charts jump up and down 100's of dollars in minutes is back. Last time they did this for a few days, the price jumped from 7000 to 8000 in a half hour, IIRC. Makes me think we are heading towards one of two things:
A: Price jumps up $1000, continuing the pattern of smaller spikes followed by a huge one.
B: Price dumps below $7000, undoing the original mega-pump, but following the pattern of randomly jumping up and down.
these pump and dump spikes are really suspicious. how many bitcoin/dollars are required to make such moves? |
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Toxic2040
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May 16, 2018, 04:09:54 PM |
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Good morning. Sideways, upwards and downwards accumulation. Cat stands tall but humble today.  |
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buyandhold
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May 16, 2018, 04:44:55 PM |
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Any activity below $100k is accumulation.
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realr0ach
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#TheGoyimKnow
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May 16, 2018, 05:25:58 PM
Last edit: May 16, 2018, 06:38:23 PM by realr0ach |
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But the recovery all hinges on one pivotal thing: the Western consumer getting back to over-consuming and piling on more debt, like they desparately need them to be doing.
The way the economic system works is mostly based around the real estate bubble scam. Assuming the government doesn't exist, likely all real estate would be based on precious metal prices. At this point, everyone is living happily and buying houses; most big ticket items require majority of payment up front, and if there's loans, they are mostly short term or require collateral or co-signing. Prices are comparatively low and things like the 30yr mortgage do not exist. Next, the banks introduce fractional reserve to lend money they don't even have to people who aren't even qualified for a loan with no collateral. Why would a money lender lend money to someone with no collateral? Because they're lending money that doesn't even exist that was conjured out of thin air from fractional reserve, so the lender has no real skin in the game. Even if you were a potential home buyer who could pay in full up front for a house in silver or gold, the act of creating this lending bubble has caused all home prices to skyrocket, and now qualified home buyers who could pay full in cash are forced to become borrowers like everyone else. The Jewish banking strategy used is simply to create a vast real estate bubble on purpose, which then forces everyone to become debt slaves locked into things like 30 year mortgages which wouldn't exist otherwise. If the real estate bubble collapses, typically the entire Jewish lending scam of lending money that doesn't exist through fractional reserve collapses and the system reverts back to the way it was before the scam was introduced - silver and gold. |
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Ludwig Von
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May 16, 2018, 05:51:31 PM |
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Good morning. Sideways, upwards and downwards accumulation. Cat stands tall but humble today. I see an "Old rusty saw-tooth" pattern appear... . |
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Karartma1
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May 16, 2018, 06:00:55 PM |
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You can't 'force' people to consume against their will.
Buying more stuff does not bring me happiness at this stage of my life. Super Kudos Bob! Well said! I would add that what you said applies to everybody at every stage in every life. Because i'm an idiot and didn't check the fud before re-posting this
3 Merits for self-recognition. I felt the urge to double those merits to this new guy on the WO! Welcome! |
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