Pumps are certainties.
Dumps are opportunities.
Take me to
zero!
#stoichaikulead singer has a nice voice but being taken to zero is a bit scary thought for me.
I am not sure, exactly, yet I was thinking that AlcoHoDL was suggesting that being taken to zero is gravitating towards zero fiat... so sure, that could be scary - moreso for some of us than others.
From $74k to $105k, formed a beautiful double top.
With recent Coinbase hack a perfect moment for bears taking over for a 30% - 50% dump.
Oh gawd.. You cannot give up on your bearish nonsense.
Pumps are certainties.
Dumps are opportunities.
Take me to
zero!
#stoichaikulead singer has a nice voice but being taken to zero is a bit scary thought for me.
Don't worry, it will stay a thought. Perhaps "add me a zero" would be more fitting, but I wouldn't mind stacking some cheap sats too.
There went my earlier theory that asserted that AlcoHoDL was aspiring to get to zero fiat.
I tend to think that many of the bitcoiners who have accumulated decent amounts of bitcoin prefer the BTC price to go up rather than down, yet I suppose, at the same time, many of us have gotten somewhat desensitized to the various ups and downs, so we also don't really mind buying on dips, yet we also might have gotten to a point that we need a measurable amount of dip before we even start to realize that there is a dip... so in that sense, it might seem a bit contradictory for any coiner to be thinking that if the BTC price dips to a certain amount perhaps 40% or some other pretty large dip, then at that point quite a few more coins will get bought up... so a kind of version of bitcoiners becoming perverted in their own statements of BTC price direction preferences.
Good luck with your supposed double top.
It might work or not this time, or it might play out like your expectation of a 50% correction back in November 2023 when we were between $35k and $40k.. That did not work out too well for you. Did it?
How long has it been OOM? Perhaps a couple of years?
I recall that you lost your Ledger (Nano S, no?) and then you ended up putting the seed somewhere else to recover the coins, yet in the process, I thought that you had bought a hardware wallet (HWW). Then perhaps after you had already recovered your bitcoin onto some other wallet, then you found your lost NanoS...
Not easy to follow all of the sagas in these here parts, yet I still thought that the punchline was that you had purchased some kind of a new HWW.
[edited out - referring to Coinbase]
And finally, there are rumors about them being a fractional reserve, which they obviously could be.
I thought that many times there had been questions about Coinbase's solvency - and surely they have a lot of coins, yet it is quite doubtful that they have all of the coins that they claim that they have, and surely if they had any kind of meaningful customer run on them, they might end up showing that they don't have anywhere near the number of coins they claim to have.
Yeah.. of course, they have a kind of retail side of their business, and then they have a custodial side of their business.. and so perhaps they are keeping those two parts somewhat segregated.. and maybe they have to keep those parts segregated to the extent that there are any consumer laws that apply related to their carrying out various fiduciary duties as a third party custodian... The laws probably differ based on each kind of service, and surely various terms of service might also dictate how much responsibility that they have in regards to having the coins that they claim to have.
We know with bitcoin (and crypto) there are likely not as many protections as compared with Banks with the FDIC and things like that, and probably part fo the reason that Coinbase had been losing customer funds so many years, and likely not paying the consequences and not reimbursing clients, yet in this more recent incident there is a lot of publicity, and that is why this time Coinbase (Brian) is saying that they are going to do "the right thing." Yeah right..
Tell me another joke.
I'd hate to see our rally derailed, but we have gotten slightly ahead of M2 on "the chart" so a little sideways or slight downward action isn't the end of the world so long as we break $109K before heading back down to retest lows.
Gosh.. UP before down?
That is possible, yet many times people don't call BTC prices like that... even though sometimes it does end up happening like that.
I was sort of hoping to get a few more percentages past $109.. and maybe even $125k or so prior to a correction, yet the correction does not even need to retest $100k or to go below $100k, but yeah, it can really be difficult to know these things in advance, which seems to be part of the ongoing justification to make sure that we are prepared for either price direction (financially and psychologically).
I am also not prepared to proclaim that sub $80k is no longer possible, even though I would be willing to enter a bet that sub $70k is no longer going to happen (even though sure it is possible, but the odds of sub $70k seem to be a wee bit lower than 50/50.. so enough to make such a bet.... yeah, yeah, yeah, I know.. not a very outlandish bet... even though for fun, I might be still willing to bet that sub $80k is no longer going to happen, even though that may well not end up being a winning bet. There is quite a bit of difference between $70k and $80k, and yeah it may well be greater than 50/50 odds that sub $80k is never going to happen again, too.
Strangely enough, this ^^ is a winning strategy most of the time, but not always, obviously.
@jjg and @Philipma1957 always buy a declining bitcoin, but, historically, buying into the downtrend is a losing strategy.
Bitcoin just bails them out because of it's gigantic secular trend leading "up and to the right", that's it.
Bitcoin is not like any other asset, and we should already know that bitcoin is ongoingly going "up and to the right" like you said which is another way of saying that It is going up forever, LLLLLLL____-Biodom." You should not be fighting that kind of a basic principle... and it is not like we are trading.. even though Philip seems to be trading, so even though he has some common features with me, it seems to be that we are rhyming rather than matching in our bitcoin accumulation and/or our bitcoin portfolio management approach.
My first year or two in bitcoin, I was pretty much buying at any time, even though I had started to think that I had enough bitcoin after the first full year, yet I could not resist but to keep accumulating bitcoin after the first year, and sure, like you suggested my ongoing buying seemed to be based on the price being down.. but I doubt that any BTC prices between $200 and $500 would have had made much difference for me, yet part of my own particulars was that I had largely frontloaded my bitcoin investment in the first year, and surely I had quite a bit of luck at that time in terms of my own cashflow situation (even though surely some might say that there is not a lot of luck to buy bitcoin all the way down from $1k and down to nearly $200 - so that part might not have had seemed like luck at the time, even though retrospectively there seems to be some luck, even with any of our abilities to buy bitcoin as the price is going down and we are not going to necessarily know how low it is going to go.. even though in your philosophy, you would have has suggested to wait rather than ongoingly buy during the time that the BTC price was ongoingly going down in 2014).
Another thing for me, it logically made sense for me to be moving various assets around throughout late 2013 and into 2014 to be able to allocate what ended up being extra cash into bitcoin throughout 2014 - even though, sure i could have had gotten BTC cheaper in 2015, yet how is any normie (like this here cat?) really going to be able to know where the bottom might be or for how long it was going to continue to go down before it resumed its "up and to the right" trajectory, especially with an asset like bitcoin? Yeah, sure after the fact we might think that we know or could have had known, but it is not really as obvious while going through such correction process.
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