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Just wait until people realize the stable coins are not stable either. There's 1000 or so entities that control 50% of circulating btc. These insiders run the
by sub7 5y ago
Just wait until people realize the stable coins are not stable either.
There's 1000 or so entities that control 50% of circulating btc. These insiders run the game, they have more information than you and they control the very few exits out there so you cannot really win without being extremely lucky.
Everyone thinks they are smart enough to get out before the next idiot, there's no universe where this ends well for anyone outside the exchanges, miners, and market makers.
- tom_mellior 5y agoMany many people have already gotten out, with things ending brilliantly for them. Out of being smarter? No, through pure dumb luck. But this notion that "the average person who holds forever can't win, ergo nobody can win" doesn't make your analysis look particularly insightful.
- sub7 5y agoThis isn't analysis, it's opinion. But thanks for adding to it in a meaningful way. The people who get out in time will be a tiny fraction of those that get fucked. And to date, exponentially more people have gotten fucked than have had brilliant endings.
- tom_mellior 5y ago> And to date, exponentially more people have gotten fucked than have had brilliant endings. If you know of a good source on this, I would be interested. I don't mean this as a challenge, I'm genuinely interested if there are many people who managed to buy at a local maximum and were forced to sell much lower. Even people who bought at $20,000 in late 2017 are now up 3x if they managed to hold. Also, what the actual ownership distribution of Bitcoin is. Is it 90% mom-and-pop investors who gambled their life savings, or is it 90% hedge funds?