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I disagree with most of this thread but this is a common sign that you have missed the boat for entering a market. By the time you see a thread on Bitcoin goin

I disagree with most of this thread but this is a common sign that you have missed the boat for entering a market. By the time you see a thread on Bitcoin going up 10% this week, you have failed to secure a position. I've made some decent cash by shifting some money into Bitcoin on a Monday and cashing out my positions by Friday during these rallies to the tune of 30-70% profits but it's not for the faint of heart.

whimsicalism 6y ago
> I've made some decent cash by shifting some money into Bitcoin on a Monday and cashing out my positions by Friday during these rallies to the tune of 30-70% profits but it's not for the faint of heart. All of this is gambling, not some rational modeling of how the bitcoin price will move. I'm glad that it has worked out for you.
- WrtCdEvrydy 6y ago
  Of course it's gambling... just like putting money in Tesla, Zoom or any other stock that made cash during Covid. Bitcoin's price is irrelevant if you're planning on using it as a deflation countering method but if you're looking at pricing, you're basically gambling on you not being the bigger fool.
  - whimsicalism 6y ago
    > Bitcoin's price is irrelevant if you're planning on using it as a deflation countering How does bitcoin function as a "deflation countering method"?
    - WrtCdEvrydy 6y ago
      As long as you can find someone willing to trade something for Bitcoin, your Bitcoins are safe from USD printing. Whether it's a pizza that later on is worth billions, or a car or something else. Your bitcoin is worth something, and is just another method of payment.
      - whimsicalism 6y ago
        > your Bitcoins are safe from USD printing. Wouldn't that make it a hedge against inflation? Many people in this thread on the wrong side of the Dunning-Kruger curve.
        WrtCdEvrydy 6y ago
        I believe USD printing would 'deflate' your savings. But English as a third language so maybe I'm wrong...
      - arcticbull 6y ago
        Literally every asset is safe from USD printing. Each and every one. As soon as you don't hold literal physical dollars in your possession what matters isn't inflation but the performance of the asset. Beanie babies, shoes, bitcoin, bond funds, stocks. All of them.

whimsicalism 6y ago

> I've made some decent cash by shifting some money into Bitcoin on a Monday and cashing out my positions by Friday during these rallies to the tune of 30-70% profits but it's not for the faint of heart. All of this is gambling, not some rational modeling of how the bitcoin price will move. I'm glad that it has worked out for you.

WrtCdEvrydy 6y ago
Of course it's gambling... just like putting money in Tesla, Zoom or any other stock that made cash during Covid. Bitcoin's price is irrelevant if you're planning on using it as a deflation countering method but if you're looking at pricing, you're basically gambling on you not being the bigger fool.
- whimsicalism 6y ago
  > Bitcoin's price is irrelevant if you're planning on using it as a deflation countering How does bitcoin function as a "deflation countering method"?
  - WrtCdEvrydy 6y ago
    As long as you can find someone willing to trade something for Bitcoin, your Bitcoins are safe from USD printing. Whether it's a pizza that later on is worth billions, or a car or something else. Your bitcoin is worth something, and is just another method of payment.
    - whimsicalism 6y ago
      > your Bitcoins are safe from USD printing. Wouldn't that make it a hedge against inflation? Many people in this thread on the wrong side of the Dunning-Kruger curve.
      - WrtCdEvrydy 6y ago
        I believe USD printing would 'deflate' your savings. But English as a third language so maybe I'm wrong...
    - arcticbull 6y ago
      Literally every asset is safe from USD printing. Each and every one. As soon as you don't hold literal physical dollars in your possession what matters isn't inflation but the performance of the asset. Beanie babies, shoes, bitcoin, bond funds, stocks. All of them.