@nullius you can indeed become rich but after around 200k contracts slippage and stophunting absolutely wreck my strategy so its gonna slow down from there, so i would be in no place to accept anyones money either way lmao.
Here is a case-in-point in which a trader might over play the odds from time to time, or miscalculate the odds, and then instead of being a sure deal, it only takes one out of 100 bets, then all of a sudden all of the profits have been lost, or some variation of that scenario, which ends up being a kind of martingale betting rather than strategic plays that are structured in such a way to always be profitable. The trader ends up getting greedy.
A more reasonable way to lose all the value would be that each bet is prudent, and the odds are supposed to be something like 7/10 wins and for some reason, the streak will keep hitting on the 3/10 outcome, until the total profits (and maybe even principle) is lost - even if the trader might only be playing 1% each time, after 100 losing bets in a row, the profits have long been removed, and there is only so much principle that is left (bet size keeps getting smaller, smaller and smaller), but if a trader is only betting 1% each time, it will take a whole hell of a long time to completely deplete the trading stash, merely that the trading stash shrinks.
Many traders cannot stick to such a system of betting only 1% per trade when the actual amount keeps shrinking, so they frequently will start to bet larger amounts that does not end up being sustainable... especially on a long losing streak... gravitating into a kind of martingale betting approach, which is NOT sustainable.
Of course, there are some traders who stick to a more sustainable system, and they stack away their profits while keeping their trading stash reasonable, and even they might suffer through vary long losing streaks that cause the size of their bets to keep shrinking and perhaps causing them to question themselves in terms of the amount of profit that is even possible upon a win (because the trading stash had continued to shrink by so much on the long losing streak).
and its not usually actually 5:1 odds, i just gave that as example, in real life itd be much more slower and safer if i was trading with a significant amount of money than what i showed in that challenge thread
You did not show slower and safer in that thread, anyhow, as far as I can remember.
On several occasions, you did not show your work, either... which surely is problematic if you are trying to get people to become confidence in your abilities to employ a sustainable and profitable approach to BTC trading.
No, I don’t buy that it will become a “world reserve currency”;
It does not need to be a world reserve currency to be a good investment.
that’s a terribly naïve proposition, whereas it will never be allowed by bankers who can’t control it—bankers who control tens of trillions of dollars in assets, own governments and thus militaries, tanks, ICBMs, and nuclear weapons, start wars at the drop of a hat, topple governments like toys and kill millions of people...
Sure there might be some battles along the way. They do not control everything now, even though they strive to. They are never going to control anything, and bitcoin provides an additional tool that removes some of that control (not all of it, but some of it).
Do you really suppose that their lunch can be eaten by some software on the Internet, which, by the way, they also own and could shut down at any time?
Their lunch does not have to be eaten.
Bitcoin is already successful in providing an additional tool, and it will likely continue to provide additional tools in the future. It could take 50 or 100 years to pass before we might see real large and meaningful changes (and the vast majority of is will be dead), but we do not need to see all of those changes, because we already have more options because of bitcoin... Thank you, king daddy.
If Bitcoin fails, there is really nothing else to shield us from being crushed into total, inescapable enslavement through the lethal combination of scam fractional-reserve “money”, total financial surveillance, and KYC-everything permission systems.
There's barter.
Bitcoin gives us some freedom of action to strive to obtain more freedom—if we choose to do so.
All other freedoms depend on financial freedom. For only one example, just try to exercise the freedom of speech if financial censorship and financial surveillance can be used to ensure that you cannot buy even a crust of bread without permission, and you can be physically located at any time. For only one example.
I mostly agree about these points.
Poll
