Prepair for a possible $5000 - $10.000 dump.
good advice back then.
interesting to read through the past WO posts. (have to catch up anyways)
If you had not noticed, Paashaas has had several posts saying very similar things, starting at about $32k.... so then he said it at around $37k too, and then $44k and then $48k.. so yeah, he looks like a genius when it finally comes true, no?
The sad thing is that he likely failed or refused to buy in the $25k to $27k arena that lasted around three months in August through October, and he may have sold in that price arena, and that was part of the explanation for his ongoingly expecting a further correction.
Looking at the bigger picture, nothing bad is happening - everyone who thinks the price is too high will have the opportunity to buy cheaper, and on the other hand, the more Grayscale sells, the better for the future. Such a concentration of BTC in the possession of only one company is always nothing but a big risk.
The Grayscale sold BTC seems to be going to Black Rock and maybe Fidelity.. so a shifting of the risk rather than an elimination of the risk, but we will see.
~snip~
The sold BTC can go in any direction, but it is still better that a dozen companies have that amount of BTC than only one that, in case of hacking or some other accident, would cause such an upheaval on the market that it would throw us back, not only in terms of the price of BTC , but also the trust that has been built up over the years.
However, even if Grayscale would not be in the equation with its BTC stock, the question is how much we overestimated the spot ETF when it comes to the US market, given that it has existed for years in some other countries such as Canada and has not resulted in too much investor interest.
Big companies like BlackRock and Fidelity with their trillions under management were a very good story, but the question is how much investors actually want to invest in Bitcoin regardless of which instrument someone provides them.
It is way too early to judge any of the Spot BTC ETF matters as any kind of failure (or overhype), and to me it seems like a considerable success (so far) in terms of both getting a lot traditional finance all excited to market bitcoin (through marketing their inferior products), and in terms of bringing more legitimacy to bitcoin.. not that bitcoin really needs it, but what are we going to do about it? I don't see how there is any way in which these kinds of products do not result in ongoing UPPity BTC price pressures, even if there might have been some pump and dump dynamics that may well have been directly attributed towards transitioning into our having ETFs in the last two weeks that were not available prior to January 10th.
Maybe there is also a kind of interesting public demonstrations of the battles within powerful public sector folks who are saying all kinds of stupid shit in regards to bitcoin, while at the same time being forced into approving this kind of product to even have chances of staying relevant... bitcoin is winning and has already won.. even though the battle is not over, and likely we are going to continue to have battles for the next 10 years or more, and hopefully bitcoin accumulators and HODLers can figure out ways not to become casualties of such battles by figuring out how to ongoingly learn and to engage in various personal safeguards, which surely involves both accumulating bitcoin and figuring out how to hold it in ways in which they don't end up getting rugged (including yours truly and other likely bitcoin knowledgable members who are active in this thread).
We might never go back to the incredibly wild swings of the past. Maybe we should get ready to just wild swings?
and miss out on the sheer terror of crazy price swings for no reason at all?
jeez that would be boring.
Wild swings? Not boring
Degenerate bitcoiners
Taste for suffering
#haikuI would like to deny that I have a taste for suffering, even if you might be correct that there is something going on in regards to suffering and some seemingly ongoing need to continue to learn and pay attention to bitcoin. .which might not be "normal."
There happens to be a host of sell pressure due to the GBTC sell.
If i were you out there with so much cash in hand, I'll take the initiative of the dumps right now to stack more bitcoin,
its not about the present its about the future after the sell pressure would have stabilized.
And don't forsake to stack wisely.
You seem to be creating a strawman argument, Familian.
You cannot presume anyone is flush with cash.
The fact of the matter is that anyone, even someone who clearly has disposable/discretionary income, they have to make decisions about what to do with that money, and they are frequently tempted by satisfying present needs, even if they don't really need the present need things that they are tempted by...
So part of the reason that even people with decent amounts of disposable/discretionary income still do not have significant savings/investments is that there are action problems, and even if you may well have come to the correct conclusion that it is best to stack sats, it still can be a bit of a difficult task to both figure out how to get started and then to actually put a plan into place (while at the same time having some kind of conviction about going into a sat stacking journey, even if it might be starting out slow rather than making BIG investments.
Maybe part of the difficulty is that people logically believe that if they are going to get into something that they have to start out BIG rather than just starting out.. and sure, just starting out can also take quite a bit of band width to just figure out some of the "how to" details..
Poll
