Tone Vays Is 85% Certain Bitcoin (BTC) Hasn’t Hit True Bottom

[BiteMyShinyMetalAss]

Tone Vays is a funny dude. He claims that bull marker wont start untill ETH goes to 0.

[bbc.reporter]

The hate in the thread is flowing for Tone Vays hehehe. Does that imply that bitcoin might not have hit its true bottom? Similar to what occured when the doubters denied 2017's bull market, the market was doing the opposite.

[1Referee]

The hate in the thread is flowing for Tone Vays hehehe. Does that imply that bitcoin might not have hit its true bottom? Similar to what occured when the doubters denied 2017's bull market, the market was doing the opposite.

Tone is an idiot. I do agree with some of his points (mainly when it comes to decentralization), but reject the rest of it, even how he thinks about certain altcoins. He's expecting them to die off, but yet doesn't have the balls to short them. It's pure mouth, little action, and he rides the flow of the market hard.

The thing that annoys me is his arrogance, and then mainly regarding how he blatantly assumes that things will happen just because he thinks so.

I tried watching some of his recent videos, and he's still doing a lot of;

Aaaah, yeah, but aaaahh.
Bitcoin will see lower lowes because aaahh, yeah, and aaaah.
I think that altcoins will aaah, in the long aaah, term lose their value aaaaah.

Wtf? Is he ok?

[pooya87]

The hate in the thread is flowing for Tone Vays hehehe. Does that imply that bitcoin might not have hit its true bottom? Similar to what occured when the doubters denied 2017's bull market, the market was doing the opposite.

him being a big idiot who is spamming "the internet" doesn't change anything about bitcoin price or what he is predicting. even a broken clock can be correct twice a day.
besides you first have to prove that this is not the "true bottom" first and then talk about whether it is going to go any lower or not.

[BiteMyShinyMetalAss]

Tone Vays is blinded by his own ignorance and hatred towards allts. Worst part is, that he is using cognitive dissonance to preserve his face. He must find reasons and flaws in each altcoin so he could bash them. He doesnt see the picture clear. Why should all altcoins die? Each altcoin has a community of hodlers and users, and as long as these people will hold and use the coin - it will not die. To say only BTC will survive and every other altcoin will go to 0 is simmilar to the religion.
Bitcoin maximalism vs  altcoins is equivalent of religious wars. I like to watch his price analysis, but cant stand this - 'if its not btc - its garbage and should go to 0' !

[El duderino_]

I say BTC DIDN'T hit its true ATH   

[deisik]

Tone Vays is blinded by his own ignorance and hatred towards allts. Worst part is, that he is using cognitive dissonance to preserve his face. He must find reasons and flaws in each altcoin so he could bash them. He doesnt see the picture clear. Why should all altcoins die? Each altcoin has a community of hodlers and users, and as long as these people will hold and use the coin - it will not die. To say only BTC will survive and every other altcoin will go to 0 is simmilar to the religion.
Bitcoin maximalism vs  altcoins is equivalent of religious wars. I like to watch his price analysis, but cant stand this - 'if its not btc - its garbage and should go to 0' !

I'm not very familiar with his views on altcoins and honestly I don't feel very inclined to get acquainted with them more tightly, but if he is one of a few orthodox Bitcoin cultists and maximalists who can't stand any altcoin, I can't possibly agree with him and his attitude. Simply put, I also think that most altcoins are shitcoins which should die as a result of free competition and unbiased market selection, but it would be bordering on extreme if not outright insane to claim that all of them should bite the dust

If so, what is to be a testing ground for innovations like Lightning Network, Schnorr signatures, sidechains, etc?

[BitHodler]

For everyone's information, he is not a bear. He is one of the most maximalist of all the bitcoin maximalists in the cryptospace. For him, any cryptocoin that is not a bitcoin is a scam hehehe.

You perfectly describe how delusional some of the Bitcoin maximalists are. I respect anyone's perspective on this market, but back it up with facts, and Tone just can't. It's all basic level gibberish no one can do anything with.

He trades both directions of the market, however.

Does he really trade that much? I see him talk a lot in his videos, draw lines on charts, but we haven't seen any proof of him opening or closing positions. He might not even be trading at all, just scoop up in-stream donations.

He once said that his affiliate links, referrals and in-stream donations account for a very large part of his income, the rest is likely from readings and presentations. Trading is on the very bottom.

[BiteMyShinyMetalAss]

Tone Vays is blinded by his own ignorance and hatred towards allts. Worst part is, that he is using cognitive dissonance to preserve his face. He must find reasons and flaws in each altcoin so he could bash them. He doesnt see the picture clear. Why should all altcoins die? Each altcoin has a community of hodlers and users, and as long as these people will hold and use the coin - it will not die. To say only BTC will survive and every other altcoin will go to 0 is simmilar to the religion.
Bitcoin maximalism vs  altcoins is equivalent of religious wars. I like to watch his price analysis, but cant stand this - 'if its not btc - its garbage and should go to 0' !

I'm not very familiar with his views on altcoins and honestly I don't feel very inclined to get acquainted with them more tightly, but if he is one of a few orthodox Bitcoin cultists and maximalists who can't stand any altcoin, I can't possibly agree with him and his attitude. Simply put, I also think that most altcoins are shitcoins which should die as a result of free competition and unbiased market selection, but it would be bordering on extreme if not outright insane to claim that all of them should bite the dust

If so, what is to be a testing ground for innovations like Lightning Network, Schnorr signatures, sidechains, etc?

For him, only BTC developers are clever and geniuses, while developers of the altcoins are ordinary people and borderline scammers. He says, that all inovation altcoins do, will be added on btc and alts simply become absolete. He says, BTC doesnt have to be a p2p cash, its main function is store of value, and people should just use credit cards and pay credit cards with BTC. People should not use BTC as a P2P payment system. For Tone, with each passing day, his blinding hatred towards alts coin grow stronger as each day proves him wrong.

The whole point is, that people still will use BTC as a store of value, yet some altcoin will have place too. I agree with you that majority doesnt have place, especially utility tokens,  however, if part of people will continue to use them - they will not die and will not go to zero. Look at ETC - completelly useless coin, had a 51% attack and is valued at 545 million dollars.

How can you force people to choose 1 coin? For example DASH, has plenty of haters, but also has a community, has a lot of hodlers, has a lot of merchants accepting it. How can this coin die, if a large number of people prefer to transact in this coin? People will still hold BTC, but choose to transact in other coins, so how can these coins die? Tones anwer is - that the features that are adopted by the altcoins, the popular features will be added to BTC, hence making these altcoin absolete. This statement would be true, if BTC development would be fast. However, BTC development is extremelly slow and people cant ever get consensus. Most features will never be added, and if they would be decided to get added it would take years for BTC protocol to get upgraded, while altcoin scene moves much faster.

[BiteMyShinyMetalAss]

For everyone's information, he is not a bear. He is one of the most maximalist of all the bitcoin maximalists in the cryptospace. For him, any cryptocoin that is not a bitcoin is a scam hehehe.

You perfectly describe how delusional some of the Bitcoin maximalists are. I respect anyone's perspective on this market, but back it up with facts, and Tone just can't. It's all basic level gibberish no one can do anything with.

He trades both directions of the market, however.

Does he really trade that much? I see him talk a lot in his videos, draw lines on charts, but we haven't seen any proof of him opening or closing positions. He might not even be trading at all, just scoop up in-stream donations.

He once said that his affiliate links, referrals and in-stream donations account for a very large part of his income, the rest is likely from readings and presentations. Trading is on the very bottom.

Tone says he doesnt trade anymore. His main income source was the Bitmex referals, which were shut down, after he posted making a trade there. The trade was correct direction, just because he posted online with his set up and stop loss, he got liquidated. And his account got closed, because he is an american.

On the contrary, crypto needs BTC maximalists, they stand a ground againts people like Roger and Craig who scam people into puting their money some shitcoin, instead of making them keep majority of their funds in BTC and only minority in altcoins. Without these hardocre, hatred filled, bitcoin maximalists, a lot of new coming people would just get burned. So in the end of the day, bitcoin maximalists are usefull. They can stay maximalists if they hate altcoins, so we should not pay much attention to their opinion. However, they still play a vital role in crypto ecosystem.

I remember myself, trying to find the good BTC wallet, reading all material about BTC. It was a bit difficult as at that time there was not many sources of information. Nowadays, its even harder, as there is too many. Person goes to bitcoin.com and here gets lied and confused straight up. So these BTC maximalists, they in fact are usefull and needed.

[deisik]

I respect anyone's perspective on this market, but back it up with facts

Oh com'on, look who's talking

People will still hold BTC, but choose to transact in other coins, so how can these coins die? Tones anwer is - that the features that are adopted by the altcoins, the popular features will be added to BTC, hence making these altcoin absolete

Well, somehow I thought he would come up with something better than that

And it is not only that Bitcoin's development is slow as you correctly noted and as it should necessarily be given the role it plays as a store of value (which this Toney dude himself seems to admit), it is also maximalist's view that there is a state of perfection which can be achieved and nothing to achieve thereafter. Bitcoin still is and will likely always remain a work in progress, so there is not a single reason to think or believe that once Bitcoin adopts some feature from an altcoin, it will be like the end of the world for altcoins (and for Bitcoin too, for that matter)

[Harlot]

Bottom line is you never know what prediction is right until the market says it is. The article obviously started on how Tone Vays is unreliable in terms of prediction which means that we should disregard the rest of his statements after that. Also we have seen hundreds of this people shine during 2017 as they have somehow predicted a bull year for Bitcoin but we are seeing most of them are wrong during the last year and maybe this year as well. My opinion is let us not based our buy and sell decisions with their predictions as out own observations can help us more.

[b3j0]

it looks like the price of bitcoin has touched the base before the new year yesterday and now it's time for bitcoin to rise again. if you look at the market, you certainly see the price of bitcoin that has started to rise.

[Slow death]

This is Tone Vays. The person who predicted that bitcoin's all time high will be about $7000 on 2017. I reckon it was where he liquidated his long positions hehehe.

These guys who try to predict the price are people who want to have fame the costs of bitcoin, they always wrong in their predictions

In any case, will he be wrong again on predicting the bottom? Arthur Hayes of Bitmex predicted his bottom on $2500.

like I said they always wrong in their predictions, but this time they can hit their predictions. The price is in the  $4000 and I do not see many good news as big players entering the market still this month, all the good news that I read speak of the future something like the next months, that means that in this quarter there is nothing that impedes the price fall below  $3000

[bbc.reporter]

The hate in the thread is flowing for Tone Vays hehehe. Does that imply that bitcoin might not have hit its true bottom? Similar to what occured when the doubters denied 2017's bull market, the market was doing the opposite.

Tone is an idiot. I do agree with some of his points (mainly when it comes to decentralization), but reject the rest of it, even how he thinks about certain altcoins. He's expecting them to die off, but yet doesn't have the balls to short them. It's pure mouth, little action, and he rides the flow of the market hard.

The thing that annoys me is his arrogance, and then mainly regarding how he blatantly assumes that things will happen just because he thinks so.

I tried watching some of his recent videos, and he's still doing a lot of;

Aaaah, yeah, but aaaahh.
Bitcoin will see lower lowes because aaahh, yeah, and aaaah.
I think that altcoins will aaah, in the long aaah, term lose their value aaaaah.

Wtf? Is he ok?

I reckon no with that haircut hehehe.

In any case, he made 1 correct prediction and made money on it previously. Let us hope he only got lucky and that it will not make him right again on the next. It would hurt to see another dump again.

[pooya87]

~
In any case, he made 1 correct prediction and made money on it previously. Let us hope he only got lucky and that it will not make him right again on the next. It would hurt to see another dump again.

how are you so sure that he didn't make profit from the rest of his predictions minus that 1 correct one? in other words how do you know that he is not doing the exact opposite of what he is publicly saying
encouraging others to sell while you buy cheaper coins, encouraging others to buy when you want to sell at the peak,... that sort of thing.

[magneto]

There is every possibility that prices are going down lower from this point. Short term sentiment simply is unpredictable and a lot of the times, very irrational. However, I disagree with his predictions.

In fact, Vays believes that there’s a 40% chance that the true bottom will be between $1-2K and that there is a 10% chance that Bitcoin will go under $1,000. Based on the discussion, it seems that Vays agrees many altcoins are still far too expensive for the bear market to be over.

I think that bitcoin crashing under $1k is next to impossible, and that $2-3k as a bottom, even though is possible, will be extremely unlikely given the fact that there are tons of institutional investors that would be willing to buy up the cheap coins at that price point.

Also, I really don't get how he just puts out completely random and arbitrary numbers in terms of the probabilities of which prices go below a certain point, without backing it up with any form of legitimate analysis. That in my opinion is a sign that his opinion shouldn't be blindly trusted in, although that should be the case with any self proclaimed expert on speculation.

[buwaytress]

In fact, Vays believes that there’s a 40% chance that the true bottom will be between $1-2K and that there is a 10% chance that Bitcoin will go under $1,000.

it sounds to me like someone who is dying to fill some shorts and will be satisfied if there were a big drop which gave him the profit he seeks from those shorts.

in any case it seems like it is one of those times when again everyone becomes a prophet and starts predicting bitcoin price and most of them are ridiculous like this one here.
[/quote]

Works for me. I probably had 0.01 BTC below $1k, only truly started earning well when it had long crossed over 4-digit territory and then onwards and upwards. Would love to get entire bitcoins for a month's work.

He'll short, I'll buy up those cheap coins.

Hoping more Tone Vays come around. The market's still too positive for a change of scene. We need them bears to come mauling, the kwukducks to come a calling, and the panic to start setting in. The more ridiculous the better!

[deisik]

Also, I really don't get how he just puts out completely random and arbitrary numbers in terms of the probabilities of which prices go below a certain point, without backing it up with any form of legitimate analysis. That in my opinion is a sign that his opinion shouldn't be blindly trusted in, although that should be the case with any self proclaimed expert on speculation

Yeah, this is a telltale sign of bullshit

Why does he do that when any sane person would know better? As I see it, mostly because the audience he appeals to is not so particular and meticulous about presenting proofs in the name of "any form of legitimate analysis". Basically, such people get carried away with all these percentages blindly believing that if someone uses numbers like 43.53 percent, it is something trustworthy by definition. Guileless and naive folks think there is real analysis behind the figures while in reality it is only a simple trick which con artists often use to deceive people

[NJB18]

Lol! I would love to hear more of his predictions so we can do the opposite.

I guess he lost all those hairs after he failed his previous predictions? He should wear a cap imo.