4 ms·

I gave up on the technical merits and accepted that I invest for the same reason one would invest in a company. The hope that of selling to a greater fool - or

I gave up on the technical merits and accepted that I invest for the same reason one would invest in a company. The hope that of selling to a greater fool - or maybe I would be the fool, who knows. I believe there is merit in BTC but it's value is propped up by fake USDT unbacked $. I don't think there is liquidity for everyone to cash out at same time. Which is why exchanges always shutdown during periods of turbulence.

nefitty 5y ago
I respect that. I don't respect seemingly intelligent people bullshitting their participation farther beneath technical obscurantism. I mean, some of these people seem like hyper-intelligent savants, but then again, I guess Wall Treet suffers from the same type of self-delusion or outright fraud. Just be honest. You're playing musical chairs hoping you'll have a seat when the music stops.
- 5350-uiop-1130 5y ago
  Of course. I think anyone that's done a bit of research knows that it's just a form of ponzi. But this is the clown world we seem to be living in for now.
  - hiq 5y ago
    What's your exit strategy?
    - 5350-uiop-1130 5y ago
      I was fortunate to buy BTC in 2014, so I have the luxury of patience. For my other holdings I take profits aggressively and don't lose any sleep over missed opportunities. The way I see, it's a coin toss and I'm too lazy to get into technical analysis. What I've learnt over the years is to ignore the optimism, in the right circumstances pretty much every cryptocurrency trends towards zero. So I'm very cynical about it.
lariati 5y ago
Investing in a company though is basically doing a crowd sourced valuation on the future cash flows of the company. It doesn't matter if you see it that way or not. Your buying and selling is still voting in a sense on the valuation of the future cash flows of the company. Buying and selling BTC is like buying or selling gold. There is no future cash flow to value. It is purely pricing based off supply and demand.
- 5350-uiop-1130 5y ago
  I know, but I'm gambling that I would get higher potential returns on Crypto. The losses are multiplied too of course. Also, I don't have the desire to study companies enough to understand what I'm getting into. Index funds are appealing, but I keep reading that we're in a bubble but I also feel like assets will just keep appreciating forever, naive, I know.

nefitty 5y ago

I respect that. I don't respect seemingly intelligent people bullshitting their participation farther beneath technical obscurantism. I mean, some of these people seem like hyper-intelligent savants, but then again, I guess Wall Treet suffers from the same type of self-delusion or outright fraud. Just be honest. You're playing musical chairs hoping you'll have a seat when the music stops.

5350-uiop-1130 5y ago
Of course. I think anyone that's done a bit of research knows that it's just a form of ponzi. But this is the clown world we seem to be living in for now.
- hiq 5y ago
  What's your exit strategy?
  - 5350-uiop-1130 5y ago
    I was fortunate to buy BTC in 2014, so I have the luxury of patience. For my other holdings I take profits aggressively and don't lose any sleep over missed opportunities. The way I see, it's a coin toss and I'm too lazy to get into technical analysis. What I've learnt over the years is to ignore the optimism, in the right circumstances pretty much every cryptocurrency trends towards zero. So I'm very cynical about it.

lariati 5y ago

Investing in a company though is basically doing a crowd sourced valuation on the future cash flows of the company. It doesn't matter if you see it that way or not. Your buying and selling is still voting in a sense on the valuation of the future cash flows of the company. Buying and selling BTC is like buying or selling gold. There is no future cash flow to value. It is purely pricing based off supply and demand.

5350-uiop-1130 5y ago
I know, but I'm gambling that I would get higher potential returns on Crypto. The losses are multiplied too of course. Also, I don't have the desire to study companies enough to understand what I'm getting into. Index funds are appealing, but I keep reading that we're in a bubble but I also feel like assets will just keep appreciating forever, naive, I know.