AAAgent's Crypto Journey

[ChristopherColumbus]

Saw the mania as it was happening. The responses where mostly concerned with a future that still hasn't materialized. Maybe it will. But for now, the disruption is minimal , if anything. I personally think the space will be the future , but not in the way people on this thread delineated. In fact, I expect governments to issue their own CC as a way to track spending, and control policy. I believe btc will go the way of the write flyer....the right concept, but you nothing you see in airports today.

I sold my bitcoin at a 50% loss earlier in the summer. I took a 60 dollar hit to my net worth. And this time, I will short any real rallies via XBT. Way too many trapped buyers at this point.

So you sold at around 6 or 7K, and bought at around 14K?

 

[synergy1]

So you sold at around 6 or 7K, and bought at around 14K?

Correct, I purchased 150 dollars worth just to try and make some beer money in the hopes that it was a temporary correction and not a structural break from the top. I honestly didn't check my account until it was at around 60-70 bucks and just ate my losses. Those numbers aren't exact and obviously I took a loss. My knowledge on charts is much broader now than it was, and unlikely would have bought any on the first real break.

 

[ChristopherColumbus]

Correct, I purchased 150 dollars worth just to try and make some beer money in the hopes that it was a temporary correction and not a structural break from the top. I honestly didn't check my account until it was at around 60-70 bucks and just ate my losses. Those numbers aren't exact and obviously I took a loss. My knowledge on charts is much broader now than it was, and unlikely would have bought any on the first real break.

What is this? High school? lol

 

[synergy1]

What is this? High school? lol

I have better things to do than lose my money on this crap.

If we are going to resort to ad-homineum attacks, than so be it. How about we address your multitude of incorrect calls, and consistently being off with targets by large percentages. Of course the former is easier because you have nothing. At least I didn't lose big on this. The same cannot be said for the multitude of people who quit their jobs ,took out credit card debt and kept thinking they were buying at the bottom. Where are those people now?

 

[ChristopherColumbus]

I have better things to do than lose my money on this crap.

If we are going to resort to ad-homineum attacks, than so be it. How about we address your multitude of incorrect calls, and consistently being off with targets by large percentages. Of course the former is easier because you have nothing. At least I didn't lose big on this. The same cannot be said for the multitude of people who quit their jobs ,took out credit card debt and kept thinking they were buying at the bottom. Where are those people now?

lol... how old are you? 18? Talking about 50% losses on a $150 'investment'.

 

[Spaz]

Roflmao

 

[synergy1]

lol... how old are you? 18? Talking about 50% losses on a $150 'investment'.

Again, we could discuss the merit of your calls, or you can attempt to strawman the conversation and sling high school jokes. The fact is I am not sitting on a loss trying to bottom pick this thing, which is down another 8% in less than 12 hours of trading. And to be clear, I operate in stocks with much larger amounts - my bitcoin speculation was to try and earn a few bucks if the dip was temporary. I wasn't stupid enough like most to put real money into this, which is more than be said of many people who have gotten their clocks cleaned in the past 10 months.

How do you respond to your poor calls about picking the bottom over the past 4-6 months? I am all about discussing that. Are you?

 

[synergy1]

30% down from area to "think about getting involved".

I would rather be called a high schooler than being called wrong. Time for you to stop pretending like you know whats going on. your charting doesn't work. its called accountability.

 

[ChristopherColumbus]

lol. Here's the only chart that matters for the longer term investor... assuming the log growth curve holds, and so one hedges. Averaging in at the lower level on the correction has always been my policy.

 

[synergy1]

That isn't the only chart that matters for a long term investor. You post those charts because they suit your narrative and little else. The market has broken after a mania which saw unsophisticated investors pile in on credit. Now these levels will act as resistance for a long time - how long no one has an idea.

It is instructive to look at leaders of the past. CSCO is a favorite of mine. lets pull up a chart of CSCO in the same vein you are looking at bitcoin, shall we? On the long term , since its IPO, the stock has still performed admirably. In the 90s it posted consecutive record earnings growth, and basically was ( and still is) a market leader. I bet you are even using a cisco product to read this post - assuming you or you ISP is using their routers!

So what happened for "long term investors" nearly 2 decades after its absolute peak? Well its still down 40%. The long term trend is still up, but that is nearly 20 years of opportunity cost lost. Cisco, unlike bitcoin continued to operate a profitable business and make money in those two decades. Bitcoin on the other hand might not be around in 20 years if governments do what they have done for thousands of years which is to control the minting of new money.

Losers adding to losers is not a winning strategy. I promise you all the promoters buying these alt coins are completely out of it now. Its best to admit you are wrong, and find another trade. There is nothing wrong with being wrong, but there is a lot wrong by trying to satisfy your narrative by recruiting others in order to build your own confirmation bias on a clearly broken trade.

 

[ChristopherColumbus]

Probably six to eight months of sideways.

 

[synergy1]

not sideways. down 20% since you posted that.

 

[ChristopherColumbus]

not sideways. down 20% since you posted that.

This is Bitcoin.

 

[switch7]

This is Bitcoin.
View attachment 2033

Chris how does the bnc liquid index work? Is it a basket?

 

[synergy1]

No, this is bitcoin.



That is a bubble. The south sea company company for reference:



Another good one from 1929, RCA the google of its time.

A bubble by any other name is still a bubble.

 

[ChristopherColumbus]

Bubbles go back to zero. Where does this go back to zero? lol

 

[ChristopherColumbus]

Chris how does the bnc liquid index work? Is it a basket?

It's just tracks BTC… updated daily, and stretching right back.

 

[switch7]

It's just tracks BTC… updated daily, and stretching right back.

tracks btc against what? i.e. dollar index tracks dollar against all other major currencies in a weighted basket. What is btc tracked against in this BNC liquid index?

 

[ChristopherColumbus]

tracks btc against what? i.e. dollar index tracks dollar against all other major currencies in a weighted basket. What is btc tracked against in this BNC liquid index?

USD.

 

[synergy1]

Bubbles go back to zero. Where does this go back to zero? lol

bubbles do not have to go back to zero. This is 100% incorrect logic. Another case - AIG:



One decade later, AIG still trades in the markets, and is still down 94% since 2008, and over 97% since its peak.