Crypto?
Shortest JJG post ever: Wordy-man ATL! That’s it: Bitcoin is dead. Selling all my coins now...
I already said uncle... didn't I?
I was not competing with you now. I feared for the value of my bitcoins! There is a market theory called the “JJG indicator”. By comparison to most daytrading TA theories, it is mathematically proved and scientifically confirmed. It says that when JJG runs out of words, then Bitcoin is a STRONG SELL and should be shorted at high leverage.
No pressure.
#nohomo
That theory (or indicator) seems to presume that I am NOT a meat wagon limited sentient being.
You surely are more wordy than me, when you are around.
You just disappear for a month at a time or perhaps 6 months to a year at a time.
Not saying that I am worried about you, but if you were persistent, you would not ONLY be MOAR wordy than the wordiest amongst us (speaking of yours truly for sure) but you would also have a post count to go along with it, too.
#justsaying
At some point, real life takes over. I’m not supposed to be here at all now; I should probably tie up some loose ends here, catch up on a few threads, and then devote my attentions elsewhere. Call it a guilty pleasure.
I can relate... maybe NOT exactly, but at least in part.
Speaking of bitcoin prices, I have no real problema where we are at, currently, surely decent sized correction down to $47,555 (constituting about 27% correction from the top), and than maybe bouncing back to bounce around $50k-ish - and who is to say that the correction is over, exactly, but does not really seem to matter too much.
This is kind of like the stability that people should seem to want (and surely a way better place than the stability that you, nullius pullius, was calling for in around September-ish - if I am remembering my dates right?), but when we are here in this kind of seemingly stable place, a lot of peeps are actually moaning about it.
I do like it. For a long time, I had it set in my mind that $1 was worth “more or less somewhere around 10k sats”. Now, it’s around 2k sats; that’s not quite as convenient as a power of ten, but it nonetheless makes mental estimations easy. Bonus: My bitcoins buy more when I need to spend them, which I try to avoid.
Round numbers tend to form Schelling points; so I would not be surprised if we need to cool off and take a breather before sufficient demand pressure forms to push us up to the next point. That is my instinct, based on no market data and no “market research”. Take it for what it’s worth.
Yes.. I will take it for what it is worth...
Numerology.
There are a lot more convincing price models in BTClandia besides numerology, including but not limited to stock to flow.
In the abstract, I am also of the general opinion that slower, steadier growth is better for Bitcoin. I know that you will say that “king daddy” doesn’t care what I want.
That is right.. king daddy does not care, but sure, you can still say it. Go ahead.
I am simply hoping for sustainable growth with less volatility and fewer, smaller corrections.
Yeah right..
Maybe we will get closer to that in 10 years or so.. Maybe?
As more people—and moreover, more rich people become to some degree economically dependent on Bitcoin, I don’t think it’s unrealistic to hope that we can break out of the old market cycles.
Sure lowering in volatility is a valid theory, but bitcoin is NOT likely to get there overnight... so you are making pie in the sky proclamations that may well apply to a future state of bitcoin 50 years from now? rather than snapping back into the reality of where bitcoin is at today.. we are in war, and war is not a stable place. Go figure.
Anyway, unless there is some extreme black swan (death of the Internet,
Roosevelt-style seizure by a superpower government, etc.), I reasonably expect that Bitcoin
will get to $100k and $1m and beyond. It took awhile to reach a sustainable floor above $1k, and above $10k; what difference does it make if the market bounces around and solidifies for awhile at $50k?
You are not going to receive any arguments from me on those points.
At this juncture, Jay, I will say something that you will hate: If you want to make 100x fast (at high risk of losing everything), go invest in altcoins! Because: Risk and reward.
Not interested. I did not get into bitcoin to make a lot of money quickly, even though it already happened. So I don't really need more money... but I am not going to complain about figuring out ways to use such money as it comes in.
Furthermore, gains in bitcoin is not merely about gains, but why the fuck you going to put value into some scam that may or may not have anything meaningful there.
I don't know of any shitcoin project that even comes close to bitcoin in terms of overall stability, and I prefer the upside potential of bitcoin but also the stability too.. so fuck shitcoins... which means I give less than 1 ratts ass about any shitcoin at this point in my life..and sure other folks might want to fuck around with them, not this cat (not literally speaking).
Whereas Bitcoin is becoming a safe investment, at least relative to what it was a few years ago. If you want something that you can buy, put into cold storage, and then just not worry about in the long term, then you must be satisfied with a measly 2x or 5x gain here and there. It’s not the first time I’ve said this: Bitcoin is becoming a relatively boring investment—and that’s a good thing!
I give few shits.. and you are starting to deviate from the topic of this thread, it seems.. and even speculating with bullshit ideas that are not even adequately accounting for the total package of reality including our most meaningful and current BTC price predictions models of: 1) stock to flow, 2) 4-year fractal and 3) exponential s-curve adoption based Metcalfe principles and network effects..
It is because of that safety that I would now feel comfortable recommending significant Bitcoin investments to the types of people who probably couldn’t have handled it before.
Seems to me that everyone should have some bitcoin, and if they are just starting to get to 1% to 10% of their portfolio while they figure it out for their lil selfies.. I cannot think of any other asset that I could stand behind with such conviction.. but whatever, do what you like in terms of what you say to udder peeps.
I myself almost wholly ignored the worst of the big bear market of 2018: I just let my coins sit where they were, stopped watching the ticker, stopped reading the news—didn’t waste time with it, didn’t worry. That was with my life savings. But I realize that I am unusual.
I don't know.. I started in late 2013, so my initial buying into BTC was in 2014 which was very similar to 2018, and it worked out pretty goddamned well.. especially for my then circumstances, including ongoing buying that ended up working out fucking great, inspite that my portfolio was largely in the red for the 1st three years.. but whatever.. there are ways to invest in bitcoin whether then or now... I have not changed my recommendations in any kind of meaningful ways... which is get the fuck into bitcoin.. but of course, make sure you get you financial house in order too by at least understanding your finances which is something that a lot of peeps are not doing and bitcoin can perhaps help them (or inspire them) to get that shit in order... perhaps? perhaps?
When Bitcoin reaches the point that ordinary, average types of people can be advised to put a chunk of their money into Bitcoin—not all, but a good chunk—
Fuck that shit, nullius pullius. The best way is to just get fucking started with DCA.. There are so many peeps who do not have a chuck of capital that they can put into anything whether bitcoin or anything else.
In other words, why create obstacles. Get the fuck started, and of course, if there happen to be chucks laying around, then they can put that in too.. usually there is a need to conceptualize investments in three categories, which are DCA, buy on dips and lump sum investment, and sure each person can try to tailor their situation to be able to figure out what balance of those three methods to use, but all three should be considered and attempted to employ, when it comes to bitcoin investing (and getting a stake, even if starting with a small stake such as 1%).
and just forget about it, then I think that the Bitcoin market will be maturing to the point that we can get that steady growth. And that forms a positive feedback loop, insofar as the steadier the market is, the more that we can bring “normies” into it.
Normies better get the fuck in now, rather than getting front run by institutions.. but whatever, you can give all the BAD advices that you want.. and let's see what happens when those dumbass normies get left even further behind because they are sitting on their hands hoping to accumulate a lump sum and trying to figure out when to get in when they should have done it yesterday.. but the second best time is to start right now and stop being a dumbass without any stake and waiting for the right time blah blah blah.. now is the right time, especially if they do not have any.
I don't know, but it was $3,850 for a blip in mid March 2020, and then it was bouncing around $10k in September 2020, and no need to really get into specifics that are better shown by a graph and the DCA chart still is a good one to point out, which will show that the longer that you have been in, the more likely you will be in profits... in other words get started. (am I repeating my lil selfie?).
^^^ Consider that to be my curmudgeonly take on the JJG style of stacked smilies.
I do hope not to see further huge drops.
Who knows? Could go either way.
That could be a real crash.
I would not presume down in a bull market..
Last time I checked we have been in a bull market since about April 2019.. so not to great to be betting on down.. even if it has had some moments during that time of ending up being correct.
The $50k range (plus or minus, say, 10%) would be a good point to rest without too much panic, mindrusting, or bears coming out in force; and I hope to see a firm floor develop here, for jumping off to the next point.
bitcoin no does not work like that, but sure consolidating in the $50k arena for a bit of time seems way more plausible than consolidating between $55k and $65k... so at least we are not at the tippity top of the range.. but still if we get a few months that are mostly staying in a kind of $45k to $55k range, gonna have to feel quite fortunate in terms of those hoping for stability... and getting six months in such price range might be coming close to being a miracle.. but surely not out of the question to experience seemingly unlikely scenarios.. that is kind of part of what happens in bitcoinlandia.. from time to time..
Poll
