I am interested in question number 2: What is crypto? and what does it have to do with this thread?
I clicked on that fucking shitty article, and surely, even after clicking and looking at that painful garbage, still I am not exactly clear of how the topic of crypto blah blah blah ... .relates to these here parts, either.
Call me a dummy?
Call me slow.
But don't call me late for lunch....
Speaking of lunch.. I am getting hungry.
Only 21 million people can own a single Bitcoin.
No they cannot.. it's impossbro... .. especially if we take reality into account.
Even today, Gold has 10x market capitalization of Bitcoin.
Have you looked at the charts recently? it's more like 20x.. in other words bitcoin's market cap is about 1/20th of Gold's
.. but of course, bitcoin is about 1,000x more valuable.. even if it could take 100 to 200 years to reach that point on the actual price charts.
You should only have values in Bitcoin anyway where you don't need to sell. If you are forced to sell Bitcoin, you have miscalculated.
If you live in the real world.. you need to attempt to balance both your cash and your bitcoin.. which might include some selling from time to time, depending on if you get your cashflow in dollars or in bitcoin.. of course, if you get your cashflow in bitcoin (which might become more true with the passage of time), then there are going to be more needs to sell... and hopefully remaining strategic and good managers about it.. so that it is not "forced to sell" situations that end up being selling way more at a time other than your own choosing.. like you mentioned.
The low Bitcoin prices should be exploited.
Who sells Bitcoin now, has not understood Bitcoin!
People who do not sell Bitcoin now and get your position properly will reap nice rewards for deciding to HODL!
For sure I agree with you here.. and if you can buy that is great, second option would be HODL, and selling seems like a bit of a failure.. .. and if you have to sell, then try to sell as little as you can.. and attempt to buy it back too.. selling to buy back lower seems quite dumb and like gambling.. even though some people
(ie weak hands) do seem to roll like that.. they like to sell low and buy high.. hahahahaha
Many have yet to learn.
Many must learn to make positions long term. No long term strategy, no success.
Weh ave seen a recent price collapse by Terra Luna and Celsius, it is such a problem.
It was unjustified panic selling and no reason for it!
Altcoins like Terra Luna and Celsius are independent of Bitcoin.
When some weak hands sold off, only came about due to an irrational panic and anyone who participates in such panic loses money.
ngmi.
I would frame the matter a wee bit differently - because there was relation to bitcoin with these projects, because the projects were using bitcoin as gambling devices, and it was not only Terra/Luna and Celsius there were several others, and they were somewhat intertangled including having tie ins to bitcoin in terms of both double counting of BTC (meaning that they did not have the bitcoin that they claimed to have.. so in some instances it may have been dekacounting them), and both normies and also institutions (not only the venture capitalists) were enterring into arrangements in which some of them were more preferred than others in terms of how much interest that they would receive .. whether it was 4% or 20% or some amount in the middle, and even some of the middle men were earning 20% and they were paying others 4% so they could skim 16%.. and some of them were not paying anything to use their customers money to gamble in other locations, and that is part of the appeal to normies to feel as if they have to put their BTC to work since it supposedly does not earn enough on its own.. so they want their bitcoin to earn yield.. and that works out all fine and dandy until there is not enough money to pay everyone because all of those incentives were created in order to attract new money in and the longer that it goes on, there is a realization that the money is not really earning the rates that they were claiming that it could earn because it was dependent to pay off the rates based on new money coming in.. which works until the new money is not enough to pay off all the yield, and it also does not work if the BTC price goes down rather than UP.. because they can still keep playing the ponzi scheme without anyone knowing if the BTC price did not go below a certain price point.. which kind of became almost inevitable to go down when the fake ass Terra/Luna lost its unstoppable (unpeggable) peg.. which had already locked up around 10x more value than the amount of BTC that they had within their supposed collateral (or peg fixing) system.. and I am not even saying that they honestly even attempted to defend the peg as the theory of what they were supposed to do says that they should have done rather than paying off their buddies in the system first.. which that surely does not help while the retail dummies keep buying in because they think that the peg is coming back as the peg goes from a dollar to zero.. but not quite zero because there is "still a chance." blah blah blah.
Those are related to bitcoin, because bitcoin is being used as liquidity for the fractional bitcoin systems and also for the rug pulls.
Most sell-offs are not rational and are instead driven by irrational decisions and panic.
By education, one must stay away from such irrational decisions and panic.
Some of the decisions were rational.. grandma wanted to earn 4% or even 8% on her bitcoin. And she did not know that the middle man was loaning out her bitcoin to earn 20%. Grandma was being rational.. because bitcoin's being designed to pump forever was not enough for her.. she wanted something more concrete than that. Yield.. like the good ole days when her bank account used to earn interest.. remember? Grandma remembers. But now grandma no does not have no money.. because grandma got rug pulled.. she thought it was legit.
To avoid falling for Altcoin lies, people need Bitcoin education. People who don’t understand Bitcoin will fall for Altcoin lies because of pro Altcoin FUD.
In the latest crash, grandma did not even realize that her money was being invested into shitcoins. She thought that she was buying bitcoin and earning a reasonable yield. 4% on Voyager.. while Voyager lent out $640million to 3AC based on 3AC's personal credit. .which $640million amounted to 58% of Voyagers total AUM.
Don’t fall for Altcoin lies, HODL Bitcoin!
I don't really disagree with you because it seems that we have other things going on at the same time... yeah we had altcoins involved and we also had macro issues putting negative pressures on bitcoin too... .. but yeah I agree with the overall proposal regarding HODL and accumulate bitcoin.
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