So where are all the normie Economists, Bankers, who said it was over in 2018?

[jubalix]

So where are all the normie Economists, Bankers, who said it was over in 2018? Silence "Chirp Chirp" Crickets. 



Do you think *they* get it yet, or is it rinse repeat 100k~200K, next cycle and at $1 M a coin they will "get" it then.

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[Tytanowy Janusz]

They get it long ago. To buy big you need FUD... as much as possible. Can you imagine trying to fill bags as cheap as possible in the same time saying how awesome bitcoin is pushing bitcoin price up with every good word you say? Saying good about bitcoin and in the same time buying bitcoin is a conflict of interest

[jubalix]

They get it long ago. To buy big you need FUD... as much as possible. Can you imagine trying to fill bags as cheap as possible in the same time saying how awesome bitcoin is pushing bitcoin price up with every good word you say? Saying good about bitcoin and in the same time buying bitcoin is a conflict of interest

To buy big you need FUD

some of the FUD was real, however, I think that a lot of "economists" and people that should know, share traders analysis, bond buyers, have no understanding of what money is.

They rarely think is the 100$ in their wallet really worth 100$. Eg face value vs actual value, and inflation vs dilution by printing which is how inflation is done now.

For instance, they never have the thought that No one ever made any money on the share market, your only wrapping around pre-existing ledger amounts and loan execution via fraction reserve banking is how money is made (excepting cash).

Think about that one for a moment. No money has ever been made on the share market or destroyed. It never crosses their mind.

[passwordnow]

I guess they are all in silently since last year or they were just playing it on 2018 to push the prices down. While giving those negative statements for bitcoin, they were doing it hiddenly in their basements, stocking and filling their orders because they knew it that it's the best time to buy. JP Morgan was one of them and others that have big names think are not yet ready to expose that they're one of us, that they're on it already.

[mersal]

So where are all the normie Economists, Bankers, who said it was over in 2018? Silence "Chirp Chirp" Crickets. 



Do you think *they* get it yet, or is it rinse repeat 100k~200K, next cycle and at $1 M a coin they will "get" it then.

We can only see them when bitcoin acts bullish and its hard for the old fashioned people to accept that bitcoin is much faster and better compared to traditional stocks so they keep saying it is a bubble and also grandpas don't get the development related to technology,

[Broly46]

all the normie Economists, Bankers Are the people who are low in self esteem and confident that they don’t even trust themselves, that they’re depending on trusting the other person that, also want you to trust them on their job of trusting the other person. Please you guy need to give them your vote of trust to them to make your life a living heaven that has been proven again and again from 9/11 to 2008 to pandemic. It’s not joking around, we can live a peaceful live of no world wars for over a few decades thank to them in charge of doing a great job. Please trust them when they tell you bitcoin would die in the future because the person they trust also tell the same story. I don’t believe banker would hodl bitcoin, but they might be trading from time to time to make some profit, also they hate bitcoin being too volatile they can’t in total control of the bitcoin trading account book all under their radar to analyse the the result of the data mining, all in all, they hate bitcoin being too transparent to everybody else they need that transparency only for themselves just like how they regulate the entire money supply on the dark with near zero transparency, of course they would still have plenty to hate on bitcoin, but the meteorite rise of bitcoin is something that make them out of their mind and possibly they get wet on their pant and bend over to the bitcoin overlord couldn’t say no to it again, yeah they’re seriously deceiving person that is they even successfully make a living out of being deceiving, how time has changed everything after the bitcoin inception.

[hatshepsut93]

Some, like for example Jamie Dimon, the CEO of JPMorgan , don't want to admit that they were wrong, so they would just refuse to comment anymore on Bitcoin. Others, like /r/Buttcoin would just keep repeating the same old arguments like a broken record. But really, we have the same psychological principle regardless where Bitcoin moves - opinions follow the trend. When Bitcoin goes up, everyone starts talking about moon and lambos, when it goes down, people think it's over. Somehow both camps ignore the history and the common sense that Bitcoin can't go up or down forever, without some extraordinary factors.

[Sterbens]

Some, like for example Jamie Dimon, the CEO of JPMorgan , don't want to admit that they were wrong, so they would just refuse to comment anymore on Bitcoin. Others, like /r/Buttcoin would just keep repeating the same old arguments like a broken record. But really, we have the same psychological principle regardless where Bitcoin moves - opinions follow the trend. When Bitcoin goes up, everyone starts talking about moon and lambos, when it goes down, people think it's over. Somehow both camps ignore the history and the common sense that Bitcoin can't go up or down forever, without some extraordinary factors.

Let the characters do what they want, and we won't care about the babbling of those who don't want to acknowledge bitcoin and its glory. Naturally, if a character as big as them is reluctant to admit it, because the risk of being used as a discussion material will have an impact on mentally and psychologically. We don't need to prove anything to them, enough, only bitcoin is silencing their mouths. at least we believe, that actually his little heart admits, but the ego can not be defeated.

[dothebeats]

Most of them are just saving face, or just not changing their stance while they can still milk the classical economics thing that they are keeping up for the longest of time. I’m pretty sure most of these same dudes are already invested one way or another, they just don’t want to let the world know for maximum profit. One can faithfully believe and enforce classical economics and still buy bitcoin since no one prohibits them from doing so.

[iv4n]

They are thinking what to say next... all arguments they had (if we can call it like that) failed! And we can discuss their arguments, in my case majority of people I have to discuss economic didn't know basics, how can I expect from them to have any logical predictions about the future when they don't know what's really happening around them?!
They said a lot of things, now I think how I should write all that in some notebook, to show them...because they don't believe my words! Anyway in this kind of situations you realize that you can't help/save them all! You either ditch the unnecessary wight, or you let it drag you down...

[Febo]

So where are all the normie Economists, Bankers, who said it was over in 2018? Silence "Chirp Chirp" Crickets.  

Like Paypal CEO?   He was FUDing Bitcoin in 2018 to fill first his pockets with BTC at $3000 and latter to fill Paypal wallet with BTC at $6000. And 2 years later start selling their customers those BTC they bought cheap. That is how business is done by banksters.

[Rengga Jati]

they might say it because they experienced a very bad nightmare of losing much money in the crypto. And we don't know whether they are still in or out of this crypto world. for those who are out after 2018, it is so silly because the party is not ended, like now. And those who are continuing until now congratulate, you deserve it. And probably some of them are still here and having a party with us but they don't cover up themselves.

[TimeTeller]

They get it long ago. To buy big you need FUD... as much as possible. Can you imagine trying to fill bags as cheap as possible in the same time saying how awesome bitcoin is pushing bitcoin price up with every good word you say? Saying good about bitcoin and in the same time buying bitcoin is a conflict of interest

I believe a lot are guilty of that.  

they might say it because they experienced a very bad nightmare of losing much money in the crypto. And we don't know whether they are still in or out of this crypto world. for those who are out after 2018, it is so silly because the party is not ended, like now. And those who are continuing until now congratulate, you deserve it. And probably some of them are still here and having a party with us but they don't cover up themselves.

Maybe some of them are going back again and regretting for not believing in bitcoin.
A lot got their disappointments, that is for sure. Because they got in for the mere thought that they will get their big returns afterwards.
But it really takes time and patience to be rewarded. And for those who stayed, this is their reward, a really good reward for those who continue to believe.

[Darker45]

They have a couple of options. It is either they will admit that they're wrong about Bitcoin, as the hard facts are clearly saying Bitcoin is here to stay and is actually a lot stronger now, or they will stick to their old perception and look extremely ridiculous and funny.

It doesn't kill them if they change tune about Bitcoin. It is very normal nowadays. Who were solid Bitcoin supporters right from the start? Only a handful. A lot of the huge investors of today weren't Bitcoin supporters years ago. But they realized that Bitcoin is not just some geeky fad and eventually poured millions into it. And they were right in that decision because their investment has indeed more than doubled in just several weeks.

[Lorence.xD]

They have a couple of options. It is either they will admit that they're wrong about Bitcoin, as the hard facts are clearly saying Bitcoin is here to stay and is actually a lot stronger now, or they will stick to their old perception and look extremely ridiculous and funny.

With more people leaning more on bitcoin rather than what the economists say, I think that they will change their mind about bitcoin, this doesn't affect the fact that bitcoin is still volatile and 2018 could happen again. Some hardcore economist might stick to their guns here and there but technology will bite back sooner than they could have expected.

It doesn't kill them if they change tune about Bitcoin. It is very normal nowadays. Who were solid Bitcoin supporters right from the start? Only a handful. A lot of the huge investors of today weren't Bitcoin supporters years ago. But they realized that Bitcoin is not just some geeky fad and eventually poured millions into it. And they were right in that decision because their investment has indeed more than doubled in just several weeks.

People have different perception about bitcoin, some supported it unconditionally while others are still uncertain so they tested the waters and now those who did finally got to reap their benefits. It is just how life works, if you become a success you will be called an idol but the other way around you are called a fraud, this is an unforgiving world after all.

[LogitechMouse]

So where are all the normie Economists, Bankers, who said it was over in 2018? Silence "Chirp Chirp" Crickets. 

Do you think *they* get it yet, or is it rinse repeat 100k~200K, next cycle and at $1 M a coin they will "get" it then.

People at that time are emotional and ignorant investors and they are investing base on the fundamentals spreading in the internet.
In order for these people to enter the market, they will create as much as FUD as they want and spread it in the internet so that they can enter at the lowest price possible.

It is possible too that these people are holding huge chunks of Bitcoin since the time they spread FUDs. We can say that they are saying things like that in the past but in reality there is another meaning to it. That they are just saying it so that they can buy Bitcoin at a lower price. In reality they are really supporting it but in silence.

[Mauser]

So where are all the normie Economists, Bankers, who said it was over in 2018? Silence "Chirp Chirp" Crickets. 



Do you think *they* get it yet, or is it rinse repeat 100k~200K, next cycle and at $1 M a coin they will "get" it then.

This is an interesting question. Would be nice to know if the pessimist just disappeared or are actually changing their mind. There is nothing wrong if you don't fully understand a subject and make bad calls. But it depends now how you change afterwards. Do you accept being wrong and move on, or try to double down and keep making bad calls.

[Latviand]

I guess they are all in silently since last year or they were just playing it on 2018 to push the prices down. While giving those negative statements for bitcoin, they were doing it hiddenly in their basements, stocking and filling their orders because they knew it that it's the best time to buy. JP Morgan was one of them and others that have big names think are not yet ready to expose that they're one of us, that they're on it already.

They talked too much before and now they are benefitting something that they are doubting since 2018.

These pathetic human being thinks that they are accountable with the things that they've said before but in reality, they are regretting those things.

Don't be a hypocrite, it is acceptable if they revoked all of the things that they've said before, by that, it means that they really admit that they made a mistake before.

[Darker45]

They have a couple of options. It is either they will admit that they're wrong about Bitcoin, as the hard facts are clearly saying Bitcoin is here to stay and is actually a lot stronger now, or they will stick to their old perception and look extremely ridiculous and funny.

With more people leaning more on bitcoin rather than what the economists say, I think that they will change their mind about bitcoin, this doesn't affect the fact that bitcoin is still volatile and 2018 could happen again. Some hardcore economist might stick to their guns here and there but technology will bite back sooner than they could have expected.

Curiously enough, I encountered this particular chart on Twitter.^[1]



Apparently, this data is coming from Coin Metrics of CoinDesk. From this Bitcoin price and volatility chart, it says that while Bitcoin is recently registering all time highs one after another, its volatility is actually very low, unlike when it made its all time high in 2017 when volatility was also moving up alongside the price.

I actually noticed that apart from sudden surges and moderate corrections, Bitcoin seemed to be more or less moving sideward in these past months. 

[1] https://twitter.com/zackvoell/status/1339751184811216897

[sana54210]

Most of them are involved right now. Look at how the big companies are getting involved with bitcoin, they were all saying bitcoin was a bubble that will burst eventually and now we are doing awesome and they have been involved for months now.

It was always obvious that when serious money got involved with crypto prices would go up, I always knew that they were getting in small by small whenever they can without taking too much attention, but with the grayscales and microstrategies of the world started to call it out, they are saying how much they are getting in and they are promoting bitcoin for us as well in the regular stock market world as well, because it is something that makes them so much money. Grayscale got involved with bitcoin was around $10k for example, now it is over $23k, where else could they found something that would double their money so quickly?

[Sterbens]

Most of them are involved right now. Look at how the big companies are getting involved with bitcoin, they were all saying bitcoin was a bubble that will burst eventually and now we are doing awesome and they have been involved for months now.

It was always obvious that when serious money got involved with crypto prices would go up, I always knew that they were getting in small by small whenever they can without taking too much attention, but with the grayscales and microstrategies of the world started to call it out, they are saying how much they are getting in and they are promoting bitcoin for us as well in the regular stock market world as well, because it is something that makes them so much money. Grayscale got involved with bitcoin was around $10k for example, now it is over $23k, where else could they found something that would double their money so quickly?

You are right, this indeed makes a lot of sense as a tentative hypothesis in response to the recent movement of bitcoin. they are involved and don't admit it. they sneak back and rake in unlimited profits. their cheating shows how unstable Grayscale is. Isn't this very cheating? although on the other hand we are expecting an increase in bitcoin, but with their involvement, it feels like something is not working normally. because it is feared that after everyone takes a share of the profits, the impact of dumping bitcoin will be very dire.

[exstasie]

Dr. Doom is up to his old tricks: https://www.bloomberg.com/news/videos/2020-12-04/bitcoin-doesn-t-have-any-fundamental-value-roubini-says-video

"No fundamental value, manipulated prices" and so on. He blames Tether for driving and propping the market up. He also seems really hyped on CBDCs and is probably hoping they'll eventually erode demand for crypto.

[Smartprofit]

In 2018-2019, the bitcoin price fell.  It was a bear market.  

The Wall Street bankers and speculators tried to create the impression that the bubble had burst with their comments.  They wrote that Bitcoin is an asset solely for speculation.  With their comments, they tried to damage the reputation of Bitcoin.  They did it on purpose.  I never listen to what bankers say about bitcoin.  They lie anyway.  

However, these people know to buy a financial asset when its price is low.  Institutional investors made bulk purchases of bitcoins at $ 8,000 and $ 10,000.  Purchases were also made at lower prices (4 000 $ - 5 000 $).  

People naively considered Bitcoin to be a speculative asset.  

Bankers initially knew that Bitcoin was a potential global reserve currency.  In the 21st century, bitcoin is more important than gold.

[cheezcarls]

I believe they are doing it on purpose in order to buy more at cheaper price. I think it's a common strategy for FUDers who just wanted the Bitcoin price to pullback even more. But I can be wrong in my assumptions. There may be others who just completely against cryptocurrencies, but sad to say that they can't take it down that easily.

[VDraci]

They want everyone to really think it was over so that they can buy more at cheaper price FUD is one of the effective way to affect the market price and till date it still works on some altcoins as well, believe me these FUDers already filled up their bags a very long time ago lol

[AniviaBtc]

I believe they are doing it on purpose in order to buy more at cheaper price. I think it's a common strategy for FUDers who just wanted the Bitcoin price to pullback even more. But I can be wrong in my assumptions. There may be others who just completely against cryptocurrencies, but sad to say that they can't take it down that easily.

I knew it, there are people who are really against bitcoin's existence in the market because they only want its price to go low and buy a massive amount.

Judging the potential of bitcoin is really not a good idea as it can only make other people hate and doubt bitcoin.

But at the end of the day, those people still invest on bitcoin because they know that bitcoin is really a must to invest and it is really profitable in the market. Your assumptions maybe right so you don't need to doubt your thoughts about it. But there are still people who are against bitcoin no matter what happens.

[pixie85]

They are still here, at least some of them, like Mark Cuban. There's that professor who recently said that Bitcoin is a bubble.

Some of them changed their minds and openly admitted to being wrong about bitcoin.

There's many attitudes and many ways in which people react to being called out. Some hide, some apologize, some ignore the facts and say the same thing.

[dunfida]

So where are all the normie Economists, Bankers, who said it was over in 2018? Silence "Chirp Chirp" Crickets. 



Do you think *they* get it yet, or is it rinse repeat 100k~200K, next cycle and at $1 M a coin they will "get" it then.

Where are they? For sure they had been holding some serious big bag stashes or bags now.They might have full of negativity back in the past but those are just
strategies for them to make some FUD and make the prices low and they would enter and buy those cheaper coins.You do know on how typical banksters and
other institutional investors on where they do love to be on the advantageous side and this is how market works and moves on where you shouldnt
let yourself fall into their hands when listening or reacting into FUDS or even on FOMO's.

They had already placed themselves into the market where everyone isnt really that expecting.

[sapnu]

Those people who lost hope last 2018 are definitely hiding or lowkey investing or holding right now. Ever since the dump, many people doubted bitcoin and stopped investing, it is not surprising anymore actually, it's normal here in the crypto world to have people suddenly leaving when a coin or even bitcoin's value starts going down. For sure, most of them are still here. They just wanted to pull other people down during the dump so that they would not be alone in experiencing massive lost of money. If you are one of them, start rethinking and reflecting on how well bitcoin is going on right now.

[arwin100]

So where are all the normie Economists, Bankers, who said it was over in 2018? Silence "Chirp Chirp" Crickets. 



Do you think *they* get it yet, or is it rinse repeat 100k~200K, next cycle and at $1 M a coin they will "get" it then.

It's a reverse psychology, they spread that fud so that they can accumulate more cheap bitcoins. They are doing that ever since before and now some of what they called economist and other big businessmen are now spreading some hype that they will buy more bitcoins so that they can create demand as well more panic buying will happen. 

And even by this we need to be careful since maybe we can experience a quick dump but hopefully we will get the same path last 2018 and the price will remain at this figures even 2021 pass by.

[Dragonfund]

I don't wish anything negative to happen to Bitcoin but the question is are you sure the same pattern will not happen again. The greatest challenge with this market has been volatility. It's always difficult to pump price but Bitcoin can dump - 10% in just an hour which make it bad side of it.
Economist, bankers or whatever all made predictions base on what they know and their limited knowledge about bitcoin and cryptocurrency. They were also afraid that bitcoin and it hype will break their system.

[ChronoLite]

So where are all the normie Economists, Bankers, who said it was over in 2018? Silence "Chirp Chirp" Crickets. 
Do you think *they* get it yet, or is it rinse repeat 100k~200K, next cycle and at $1 M a coin they will "get" it then.

they all just normies who just follow the hype train and once it is no longer worth it they start to shittalk bitcoin and call it over on that day. this type of mindset is really dumb and just make them look really bad. it is not on just economits, some of us also thought like that and they backslashing crypto after it was dumped in 2018, lol i laughing so hard

[jostorres]

I think Peter Schiff is the funniest one. He made a poll about how he was so experienced and an investor and all around talked about how he knew what he was talking about and what he has done so far, while his kid was 18 years old and didn't know anything at all and bought bitcoin against all his pleas to not buy one. That kid became a lot richer thanks to that purchase, everyone voted the kid instead of Peter . He literally condemned his own son for buying bitcoin and wanted to humiliate him on twitter, while his son was the winner of the poll and he also made over 3x return since that day, while Peter didn't even do 1.5x return since that day. It is funny to see those kinds of things.

However do not think of every big name economist like that, we have also seen companies getting into crypto this year, so there are some who still think it is fine.

[South Park]

So where are all the normie Economists, Bankers, who said it was over in 2018? Silence "Chirp Chirp" Crickets. 



Do you think *they* get it yet, or is it rinse repeat 100k~200K, next cycle and at $1 M a coin they will "get" it then.

Either in hiding or still saying the same, I will be surprised if any single one of them has changed their mind since then, you need to understand that most economist do not understand even the role of gold and how important was historically to get where we are, to them gold is an historic relic that is just there and that at some point will disappear, since bitcoin is based on similar principles then they think bitcoin is completely useless not understanding that what they were taught at school is what is wrong and not bitcoin.

[Hydrogen]

So where are all the normie Economists, Bankers, who said it was over in 2018? Silence "Chirp Chirp" Crickets.  

Finance(2018):  "Bitcoin will peak above $20k at its next halving in 2020. How do we profit the most from this."

Banks(2018):  "We'll convince everyone bitcoin is overvalued to fool them into selling at rock bottom prices. It will give us a lower entry to market and boost our gains."

Economists(2018):  "Banks and finance called. They want us to predict doom and gloom for bitcoin. Call our people in the media and let them know its time to go to work."

CNN(2018):  "Bitcoin is dead. Sell now so finance and banks can buy at lower prices to boost the profits they'll reap when bitcoin crests $20k after its next halving in 2020."

Normies(2018):  "CNN, Jamie Dimon and economists said bitcoin is dead. Sell, sell, sell."

...

Knowing how the finance food chain works helps put things into perspective.