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Author Topic: We're all Schrödinger's cats in the short term  (Read 200 times)
KonstantinosM
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September 12, 2018, 07:57:45 AM
Merited by figmentofmyass (2)
 #1

We won't know where the price will be at any given time until we check it!

or maybe we're Schrodinger's investors.

I'm not saying I don't believe in the fundamentals, I believe there is a huge future for bitcoin, but we don't truly know what the future may hold. Past performance not indicating future outcomes and what not.

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September 12, 2018, 08:05:48 AM
 #2

So, what?

What you have just said can be said about any investment: we can’t predict short term but we can long term if it has good fundamentals, and past performance can’t be used as an algorithm to predict future performance.

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September 12, 2018, 08:29:45 AM
 #3

It's really hard to predict on what possible happen to bitcoin or the entire cryptocurrencies, as long as there are so many investors who still believed in bitcoin I can assure that it still exists on the market. But those doubtful people I'm sure right now they ignore bitcoin to invest instead. But one thing that for sure they had this big question on everyone’s lips, "what will these coins be worth in the future?". We all don't know what's in the future so, let's enjoy as what had bitcoin now.

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KonstantinosM
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September 12, 2018, 10:02:37 AM
 #4

So, what?

What you have just said can be said about any investment: we can’t predict short term but we can long term if it has good fundamentals, and past performance can’t be used as an algorithm to predict future performance.


Yes, but a lot of people cling to the delusion they can predict the price in the short term. That only happens rarely with deep insight and perhaps even some insider knowledge of the market. (like gox being insolvent or maybe tether collapsing).


Mostly, if you tried to predict the price in 24 hours, you just wouldn't be in the ballpark most of the time.

For example, I could guess that the price tomorrow is likely to be 6300 and I could as easily guess the price would be 6050. Or any other number.

But the price tomorrow could be 4,000 or 7000, or it could even crash to near 0. The technology would still exist and the benefits of cryptocurrency would still be realized, my profits would be dead and I would be a schrodinger's cat.


It happens in the traditional market too, there are a lot of companies that were huge that have simply disappeared. They get dropped from the index and we only remember the victors.

I guarantee you that if you do research, you'll find that huge companies have dropped out of the S&P 500 and disappeared. We shouldn't act like this somehow does not or will not happen in crypto.
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September 12, 2018, 12:40:55 PM
 #5

Yes it is true that we can't predict price bitcoin only there will be back again to zero (like death cat) or will be recovery again or reach the ATH again (the cat still alive). But if we not believe that bitcoin will still have many chance that it will recovery.  like Niels Bohr says we will don't know is the cat is still alive or death if we don't open the box. And I want to see that the cat still alive so just make more learn and try so we can get more experience where is the bitcoin will go. but in long term i believe that it still have a good future in my opinion

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September 12, 2018, 12:57:47 PM
 #6

Is it me? or most of the the the miners do. I'm not particularly good at predicting prices, but if the fundamental is outstanding then checking the prices on panic manner is not necessary.

Short or long, high or low, fuds or facts. The deciding factor and the last foundation is trust.

The cat has NINE lives, but bitcoin has millionsAT.
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September 12, 2018, 02:04:49 PM
 #7

We won't know where the price will be at any given time until we check it!

or maybe we're Schrodinger's investors.

I'm not saying I don't believe in the fundamentals, I believe there is a huge future for bitcoin, but we don't truly know what the future may hold. Past performance not indicating future outcomes and what not.
YES! This was exactly what I was trying to explain to people but this example is AMAZING. I have been telling people that bitcoin can go down to $3k in a week and no one would be shocked because bitcoin does that type of stuff and also it can go to $10k and we wouldn't be shocked because bitcoin does that too, in a week it can do any of that and we would not be shocked. We would be either happy or sad but not surprised by it.

Schrodingers cat is amazing example for such a thing, never been able to put my finger on this until you said it, great example. We will have to wait and see until someone opens the box, lets see if we are dead or not when the box is opened.
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September 12, 2018, 03:12:32 PM
Merited by Bitcoinsummoner (2)
 #8

Indeed, sometimes you just have to avoid looking at the price for a while. By not knowing the price, you will avoid making stupid moves.

Just imagine that MtGox investors that bought in the 2013 peak at around $1200, decided to close the bitcoinwisdom.com tab and forget about it, and check 3 years later... exactly, they would be now cruising in easy mode as their entry point has become a dream entry point for these that did finally panic sell through the bear market or did not buy yet as I remember a lot of people were expecting lower prices which never came.

So in terms of pain, be ready to accept it and get through it, or just go the blindfolded, forget about bitcoin and check back a year or two later. If you aren't strongminded the market noise from the bear period will destroy your portfolio as you will be brainwashed into bitcoin being dead a million times.

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September 13, 2018, 12:15:15 PM
 #9

We are not Schrodinger cats,bitcoin/blockchain is the "cat in the box".We don't know what will happen to it in the future,does it have any intrinsic value?Is the box empty or we just believe so hard that there is a "cat" inside? Grin

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September 13, 2018, 03:04:53 PM
 #10

Any indicator for the price to sway is a time to really do something, But yes it is very difficult to really know when it can happen, At times like many investors just make a decision to Hodl for long period and look at their stored bitcoin on the many years to come which is great and at the same time a waste of time, Because a long term holding can be great if you don't really need the money and you are just treating this investment as a bank to save money for your future, But if you don't have any amount to spare then don't put all your money where you can not be so sure where this market is going.














 

 

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September 13, 2018, 05:03:19 PM
 #11

It's really hard to predict on what possible happen to bitcoin or the entire cryptocurrencies, as long as there are so many investors who still believed in bitcoin I can assure that it still exists on the market. But those doubtful people I'm sure right now they ignore bitcoin to invest instead. But one thing that for sure they had this big question on everyone’s lips, "what will these coins be worth in the future?". We all don't know what's in the future so, let's enjoy as what had bitcoin now.
It is hard to predict any market at all and when it comes to the market, the only thing we can do is to look at what the charts are saying and then act accordingly. Those who feel they can predict the future of the market are certainly jokers, because no one can. Apparently, they just seem to state what they feel the market should behave like in the short term and then hope it gets to be that. Unless they just get lucky, that would end up a rubbish prediction at the end of the day.

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September 13, 2018, 06:36:01 PM
 #12

It is hard to predict any market at all and when it comes to the market, the only thing we can do is to look at what the charts are saying and then act accordingly.
Common sense is sufficient mostly. People's problem is that they constantly try to time the market, which has been proven to be the wrong way to participate in every actively traded market.

To buy the average of the market the best thing to do is to dollar cost average on a monthly or biweekly basis. If you do that with 5-10% of your monthly income there is less reason to stress out. I do that too and it works well.

If you don't touch your savings you'll see that the market's fluctuations in the short term are nothing more than noise. Saving up money takes years while losing it just takes a couple of months.

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September 13, 2018, 07:19:35 PM
Merited by KonstantinosM (1)
 #13

We won't know where the price will be at any given time until we check it!

or maybe we're Schrodinger's investors.

I'm not saying I don't believe in the fundamentals, I believe there is a huge future for bitcoin, but we don't truly know what the future may hold. Past performance not indicating future outcomes and what not.

i like that.

schrodinger's cat is a good reminder that as long as we continue to speculate about future mainstream adoption or institutional adoption, etc. that these things are mere possibilities. the event (eg mainstream adoption) hasn't occurred until it's actually occurred and the spectrum of possibilities collapses into one reality. until that day, we're still "in the box" so to speak, awaiting the result.

i'm a big believer in bitcoin, but i also believe that a number of things could still occur that results in the complete abandonment of it. Lips sealed

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September 14, 2018, 01:05:08 AM
 #14

We won't know where the price will be at any given time until we check it!

or maybe we're Schrodinger's investors.

I'm not saying I don't believe in the fundamentals, I believe there is a huge future for bitcoin, but we don't truly know what the future may hold. Past performance not indicating future outcomes and what not.

i like that.

schrodinger's cat is a good reminder that as long as we continue to speculate about future mainstream adoption or institutional adoption, etc. that these things are mere possibilities. the event (eg mainstream adoption) hasn't occurred until it's actually occurred and the spectrum of possibilities collapses into one reality. until that day, we're still "in the box" so to speak, awaiting the result.

i'm a big believer in bitcoin, but i also believe that a number of things could still occur that results in the complete abandonment of it. Lips sealed

Actually I think this is somewhere along the lines of the reflexivity theory by George Soros influence by Karl Popper in which market participants are constantly wrong about the price and they are either very divergent from objective true price or close to it:

Quote
My conceptual framework enabled me both to anticipate the crisis and to deal with it when it finally struck. It has also enabled me to explain and predict events better than most others. This has changed my own evaluation and that of many others. My philosophy is no longer a personal matter; it deserves to be taken seriously as a possible contribution to our understanding of reality. ~ George Soros (via FT)

I like this quote too:

Quote
Financial markets, far from accurately reflecting all the available knowledge, always provide a distorted view of reality. This is the principle of fallibility. The degree of distortion may vary from time to time. Sometimes it’s quite insignificant, at other times it is quite pronounced.

Every bubble has two components: an underlying trend that prevails in reality and a misconception relating to that trend. When a positive feedback develops between the trend and the misconception, a boom-bust process is set in motion. The process is liable to be tested by negative feedback along the way, and if it is strong enough to survive these tests, both the trend and the misconception will be reinforced.

I recommend the book "The Alchemy of Finance". It is not guarantee you will become rich after reading it... but its nonetheless interesting.

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September 14, 2018, 09:18:00 AM
 #15

Thinking like that is a great thing for people who are looking to invest long time. Until you check on your investment it is neither good nor bad. In theory you could say the same for when you're going to cash out or not. Until you sell your coins it is neither a good nor a bad investment.

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September 16, 2018, 08:21:49 AM
 #16

We won't know where the price will be at any given time until we check it!

or maybe we're Schrodinger's investors.

I'm not saying I don't believe in the fundamentals, I believe there is a huge future for bitcoin, but we don't truly know what the future may hold. Past performance not indicating future outcomes and what not.

i like that.

schrodinger's cat is a good reminder that as long as we continue to speculate about future mainstream adoption or institutional adoption, etc. that these things are mere possibilities. the event (eg mainstream adoption) hasn't occurred until it's actually occurred and the spectrum of possibilities collapses into one reality. until that day, we're still "in the box" so to speak, awaiting the result.

i'm a big believer in bitcoin, but i also believe that a number of things could still occur that results in the complete abandonment of it. Lips sealed
It is indeed a very good reminder and as much as we tend to anticipate for things and hope they actually become a reality, what would be eventually, will take place as it wants. It is life, no one can see the future and we are sometimes all just playing a wish game and sometimes getting lucky on those wishes, but luck is not something that do come around every time. Your last statement is absolutely the blunt truth and in as much as we can hope for a better future for bitcoin, that does not mean the worst can still not end up happening.

Everyone sure have a way to invest and what tickles them to invest but the fact remains that in any investment there will always be risk and opportunities, and as long as you cannot tell what the future holds, just do your own best and leave the rest for the future to decide.


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September 16, 2018, 08:53:38 AM
 #17

if you start thinking like that then everything else can be described the same way! we don't know what is going to happen in case of a lot of things, not just investments.

what we do is that we try our best to come up with the most accurate speculation and then constantly modify it as the market changes so that it remains the closest guess and so that we can be more successful.
at times the market becomes less predictable and sometimes more. and with it our guess becomes harder and easier receptively.














 

 

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September 16, 2018, 08:57:28 AM
 #18

We won't know where the price will be at any given time until we check it!

or maybe we're Schrodinger's investors.

I'm not saying I don't believe in the fundamentals, I believe there is a huge future for bitcoin, but we don't truly know what the future may hold. Past performance not indicating future outcomes and what not.



Because you might be basing "success" on Bitcoin's price, and measuring it in how much in fiat you have made by holding it. If you are scared of "what the unknown future may hold", then sell now and don't look back. There will be more dips coming.


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September 16, 2018, 04:15:33 PM
 #19

if you start thinking like that then everything else can be described the same way! we don't know what is going to happen in case of a lot of things, not just investments.

what we do is that we try our best to come up with the most accurate speculation and then constantly modify it as the market changes so that it remains the closest guess and so that we can be more successful.
at times the market becomes less predictable and sometimes more. and with it our guess becomes harder and easier receptively.

I think that the point is that for some people not knowing leads them to being closer to the most accurate speculation than if they constantly were aware of the price changes. Some people cannot handle the emotion of price changes and it clouds their judgment.

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September 16, 2018, 07:14:08 PM
 #20

We won't know where the price will be at any given time until we check it!

or maybe we're Schrodinger's investors.

I'm not saying I don't believe in the fundamentals, I believe there is a huge future for bitcoin, but we don't truly know what the future may hold. Past performance not indicating future outcomes and what not.

i like that.

schrodinger's cat is a good reminder that as long as we continue to speculate about future mainstream adoption or institutional adoption, etc. that these things are mere possibilities. the event (eg mainstream adoption) hasn't occurred until it's actually occurred and the spectrum of possibilities collapses into one reality. until that day, we're still "in the box" so to speak, awaiting the result.

i'm a big believer in bitcoin, but i also believe that a number of things could still occur that results in the complete abandonment of it. Lips sealed

That's exactly the reason why Bitcoin is so volatile and why we have these big bull and bear markets - people bet money on and against Bitcoin (sometimes even the same people), but until we witness it succreding as a currency/asset/commodity, etc., both scenarios are possible. It's also kinda subjective - some people see that Bitcoin hasn't reached mass adoption yet and take it as a negative sign, others think that Bitcoin has already achieved a lot.

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