4 ms·

He does not say that though: he acts like he wants to protect the 'dumb people' (dumb is mine: but what else fits?) by banning stuff (which NL seems to want to

He does not say that though: he acts like he wants to protect the 'dumb people' (dumb is mine: but what else fits?) by banning stuff (which NL seems to want to do more and more) (I am Dutch). Does not explain why he would not want to ban stock markets as assets like MSFT are massively overvalued as well and will crash badly next crisis. Sure cryptocurrencies have no intrinsic value and energy waste etc etc but banning something because it might crash... is somewhat weird. Especially as you screw over all people who currently are in it. So you protected far too late. And actually hurt a lot of people. Make the ponzi/pyramid scheme case from top to bottom and educate people if you cannot make a case for illegal practice.

Bishizel 5y ago
I think it’s tough to assign value like this. People argued that the internet had no real value for basically all of the late 90s.
- skrebbel 5y ago
  People keep repeating this but bitcoin is well over a decade old now. And it still has no value other than, well, "value". That first day you got internet in, say, 1997, you were in touch with people far away and could look all kinds of shit up and make webpages and pull godwins on usenet and download winzip from tucows and it was amazing. I think your only argument holds, slightly, if by "real value" you mean "money".
- tluyben2 5y ago
  My accountant was saying in 1998 he never bought stock but this eternal new money machine he could not miss out on. I made a shitload those days because I invest but am a huge stoploss fan; I did not advise him anything but he lost a few 100k and only recently recovered. The internet was a good idea though (he sold the shares though at about the lowest point so recovered is not from shares). As were tulip bulbs were but just not at that price. So who knows this will stabilize at $2/btc in 20 years and it will be normal. In the meanwhile, I buy and set stoploss and invest long sure bets, like msft in, well msft and such. But those have stoploss as well as this will all crash. The real question is: which assets will crash to $0 and which don't. As the latter you can just hold and you get your money back eventually. I had oracle (forgive me) and msft as cases of the latter in the 2000 crash and Borland/inprise as cases of the former. I had stoploss high on inprise and low on the others and made bizarre profits on inprise and higher but more long term profits on the others. If you ask me, these 'look over periods of 20-30 years' are smart with some assets and basically, imho, insane with others and I believe inprise and btc belong in the latter category. Stoploss (and you just adjust it UP over time) will save your hide. Noone listens though as it is not 'what real traders do'. Good luck with that.

Bishizel 5y ago

I think it’s tough to assign value like this. People argued that the internet had no real value for basically all of the late 90s.

skrebbel 5y ago
People keep repeating this but bitcoin is well over a decade old now. And it still has no value other than, well, "value". That first day you got internet in, say, 1997, you were in touch with people far away and could look all kinds of shit up and make webpages and pull godwins on usenet and download winzip from tucows and it was amazing. I think your only argument holds, slightly, if by "real value" you mean "money".
tluyben2 5y ago
My accountant was saying in 1998 he never bought stock but this eternal new money machine he could not miss out on. I made a shitload those days because I invest but am a huge stoploss fan; I did not advise him anything but he lost a few 100k and only recently recovered. The internet was a good idea though (he sold the shares though at about the lowest point so recovered is not from shares). As were tulip bulbs were but just not at that price. So who knows this will stabilize at $2/btc in 20 years and it will be normal. In the meanwhile, I buy and set stoploss and invest long sure bets, like msft in, well msft and such. But those have stoploss as well as this will all crash. The real question is: which assets will crash to $0 and which don't. As the latter you can just hold and you get your money back eventually. I had oracle (forgive me) and msft as cases of the latter in the 2000 crash and Borland/inprise as cases of the former. I had stoploss high on inprise and low on the others and made bizarre profits on inprise and higher but more long term profits on the others. If you ask me, these 'look over periods of 20-30 years' are smart with some assets and basically, imho, insane with others and I believe inprise and btc belong in the latter category. Stoploss (and you just adjust it UP over time) will save your hide. Noone listens though as it is not 'what real traders do'. Good luck with that.