6 ms·

a good opportunity for you to short the market then

• SketchySeaBeast 4y ago
  You're either for crypto or against it, but either way if you're trying to make money it's due to a greater fool.
  • deleted 4y ago
    [deleted]
  • koonsolo 4y ago
    Not convinced about that. I'm sure the ones who gained the most are the ones who just HODLed.
    • SketchySeaBeast 4y ago
      The people who are still holding, or the people who sold at its height, to people who were hoping for more? If the former then they haven't gained anything yet, if the latter, that's the greater fools.
      • koonsolo 4y ago
        So you claim this was the top? I claim there will be an even higher top. Let's see who's right. > If the former then they haven't gained anything yet Any asset has risk, including fiat. So no, they did gain already. Or do you expect them to cash out to Bolivar?
        • SketchySeaBeast 4y ago
          The top so far. I have no idea about the future. Regardless, when do people sell? When it's at the top? When is that? If it's going up shouldn't you continue to hold? And should you sell when it drops? You haven't. So what's your line in the sand? Should new people be buying in? When should they stop? And then who are you going to sell your coin to? The greater fool. Comparing bitcoins volatility to fiat is ridiculous but regardless, you haven't made any actual guaranteed monetary gains until you sell.
          • koonsolo 4y ago
            Sell? I'll pay with it, and earn it.
            • SketchySeaBeast 4y ago
              Ok, sure, avoid the other questions, but to be clear, paying for something with bitcoin is the same as selling it, you're just pretending that there isn't a conversion to fiat somewhere in the chain.
              • koonsolo 4y ago
                All your questions are answered with "you hold". When I buy a house in Dubai with bitcoin, there is no fiat involved. I receive the house, they receive the bitcoin. Simple. You could call this selling your bitcoin, but in the same sense you could say selling your fiat. You seem to think that fiat currency is somehow a base unit like meters. But it isn't. Maybe you have noticed the inflation all over the world recently, some countries more than others. Like I said before, all asset classes have risks. The statement "cashing out" makes no sense to me. I have various stores of my value. Fiat, crypto, companies, real estate, jewelry, bullets, ...
                • SketchySeaBeast 4y ago
                  > When I buy a house in Dubai with bitcoin, there is no fiat involved. I'll bet you they didn't buy and pay for the materials for said house with bitcoin. I don't really know what your point is now as you apparently view bullets as an asset class, so I've kind of lost your story. If you think you're going to make a much of money on bitcoin I'm not sure why you'd get rid of it. I invest in securities because I think it'll outperform the default choice, I don't invest in things that I think will under-perform it.
                  • koonsolo 4y ago
                    > you apparently view bullets as an asset class, so I've kind of lost your story If you don't view bullets as an asset, you are definitely lost.