6 ms·

Either one is right or the market is irrational? Seems like by that logic one can never really be proven wrong.

TylerE 6y ago
You can be right, the market can be wrong, and then the market can crash before you can exit the position. Imagine, for instance, trying to get actual USD (NOT USDT!) for BTC when that fever dream ends.
- ric2b 6y ago
  You can get USD for BTC right now, you've been able to get if for nearly a decade and there have never been as many reputable exchanges as there are now.
  - TylerE 6y ago
    The exchanges tend to "go down for maintenance" on any big price swing.
    - mthoms 6y ago
      Evidence? I've been in crypto a long time and have never experienced this. I'm not saying it's never happened, but implying it's some sort of repeating pattern is simply false.
      - TylerE 6y ago
        https://news.bitcoin.com/crypto-exchanges-overwhelmed-on-bitcoins-most-volatile-day-of-the-year/ https://news.bitcoin.com/crypto-exchanges-overwhelmed-on-bit... https://www.forbes.com/sites/billybambrough/2020/05/20/sudden-major-outage-sparks-serious-bitcoin-exchange-warning/?sh=c159e383a706 https://www.forbes.com/sites/billybambrough/2020/05/20/sudde... https://cryptopotato.com/bitfinex-offline-goes-in-unscheduled-maintenance-on-the-day-bitcoin-crashes-2000/ https://cryptopotato.com/bitfinex-offline-goes-in-unschedule...
        mthoms 6y ago
        You said they "tend go down for maintenance" on "any big price swings" but were only able to muster one example of one exchange going down "for maintenance" on one price swing (Bitfinex). The others, as the articles point out, were trade volume related (which is also a problem, but much less sinister). There's no evidence this is some kind of grand conspiracy like you implied. There's plenty to criticise in Crypto, but little evidence for what you actually claimed.
        TylerE 6y ago
        You're moving the goalposts. A day when everyone is trying to get their "money" out is the definition of a high volume day.
        mthoms 6y ago
        No, I'm not challenging the premise, I'm challenging your framing. Your comment implied sinister intent: That exchanges go offline at key times in order to scam people. No evidence was provided of that. The sources you provided point to technical problems that are perfectly understandable during a massive, unpredicted surge in such a technically complex field.
        TylerE 6y ago
        There is a long history of exchanges explicitly scamming people. Way beyond giving them the benefit of the doubt at this point.
- zelly 6y ago
  there is no end. crypto will continue to swallow up all the world's capital and you'll be furious at how many leading zeros there are in your BTC-priced paycheck.

You can be right, the market can be wrong, and then the market can crash before you can exit the position. Imagine, for instance, trying to get actual USD (NOT USDT!) for BTC when that fever dream ends.

ric2b 6y ago
You can get USD for BTC right now, you've been able to get if for nearly a decade and there have never been as many reputable exchanges as there are now.
- TylerE 6y ago
  The exchanges tend to "go down for maintenance" on any big price swing.
  - mthoms 6y ago
    Evidence? I've been in crypto a long time and have never experienced this. I'm not saying it's never happened, but implying it's some sort of repeating pattern is simply false.
    - TylerE 6y ago
      https://news.bitcoin.com/crypto-exchanges-overwhelmed-on-bitcoins-most-volatile-day-of-the-year/ https://news.bitcoin.com/crypto-exchanges-overwhelmed-on-bit... https://www.forbes.com/sites/billybambrough/2020/05/20/sudden-major-outage-sparks-serious-bitcoin-exchange-warning/?sh=c159e383a706 https://www.forbes.com/sites/billybambrough/2020/05/20/sudde... https://cryptopotato.com/bitfinex-offline-goes-in-unscheduled-maintenance-on-the-day-bitcoin-crashes-2000/ https://cryptopotato.com/bitfinex-offline-goes-in-unschedule...
      - mthoms 6y ago
        You said they "tend go down for maintenance" on "any big price swings" but were only able to muster one example of one exchange going down "for maintenance" on one price swing (Bitfinex). The others, as the articles point out, were trade volume related (which is also a problem, but much less sinister). There's no evidence this is some kind of grand conspiracy like you implied. There's plenty to criticise in Crypto, but little evidence for what you actually claimed.
        TylerE 6y ago
        You're moving the goalposts. A day when everyone is trying to get their "money" out is the definition of a high volume day.
        mthoms 6y ago
        No, I'm not challenging the premise, I'm challenging your framing. Your comment implied sinister intent: That exchanges go offline at key times in order to scam people. No evidence was provided of that. The sources you provided point to technical problems that are perfectly understandable during a massive, unpredicted surge in such a technically complex field.
        TylerE 6y ago
        There is a long history of exchanges explicitly scamming people. Way beyond giving them the benefit of the doubt at this point.
zelly 6y ago
there is no end. crypto will continue to swallow up all the world's capital and you'll be furious at how many leading zeros there are in your BTC-priced paycheck.