You will never make it

Why are you so upset if you realized it was a huge bubble and got out? Smells like a larp kek.

This is why we will make it. Those Ego driven faggots are are the worst of the worst...which is why they got to the top in the first place. Their dicks drive them to “make it” because they wouldn’t listen to reason or normal people who told them to “get a real job” or to “stop gambling”. Ego gets you farther than brains in the investment field. Crypto will make the commodities market look like a kids casino in 20 years.

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yeah like I literally only know one person who buys crypto and I know a lot of peeps
I've heard of my former boss's friend buying crypto that's it.
1 person I know and 1 I know of.
Ok not true I know a couple wagecucks that just gamble on shitcoins and another former boss that hit it big last dec but that's it

So you compare the crypto bullrun with a lottery ticket?

Jesus christ user. You're just salty you didn't invest early and made it. I didn't but I'm happy for the anons who did. That edgyness will get you nowhere.

You wish it was a larp buddy

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Not selling was the most retarded thing faggots could do. It just shows how little most crypto enthusiasts know about the capital markets.

When you buy a stock and the trend changes downwards, you cut your losses/take your winnings and sell. There is no guarantee whatsoever that the stock will recover and very many do not upon entering bear market due to non-systemic risk. If a new trend appears, you buy into it again. People have been making money doing this for over a century now.

The only buy and hold that really makes sense is index buying, because you have automatic buying and selling within it due failing companies falling out of the index and new companies coming in. Meanwhile in cryptoland:

> i will hold this one asset that only existed for a decade or so no matter what
> pointless discussions about Roger Ver and the utility of some shitcoin

Fucking retarded as shit. I sold out in late December once BTC dropped below its regular range. May buy again if the trend reverses.

>be warren buffet
>purchase jp morgan stock
>wait for the new notes

Seems legit. What are these new notes and why is JP Morgan stacking so much silver

>new notes
youtube.com/watch?v=nmtw8grnnUM

>silver stack crushing whatever the hunt brothers had
JP Morgan is exclusively going to back the new notes securing the position of the new dollar

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No I’m saying that plenty of people make bad financial decisions. That’s not a valid excuse for being an idiot. I’m already rich and I don’t really care that other people got rich because they got in early. Most of them were just lucky but good for them.

Except I've made money

but i did sell. now I have a godamn battleship warchest ready to deploy, and am deploying little by little.

I bet you really are rich. So rich you need to tell us all about it. No way you could just be jealous of all the people who became millionaires off some new technology you don't quite appreciate.

This is not proof that you got in in 2013 or sold in 2017 kek. But good for you if you realized it was a bubble and got out. So why are you upset? I’m obviously talking to all the people who bought and/or didn’t sell during the mania.

The technology is shit though. It was kind of interesting when it came out, but we have now clearly seen that it’s fucking pointless. People made money on momentum, which is perfectly fine and, I would argue, has nothing to do with luck. The odds were stacked in their favor. So were the odds of people buying in late 2017, but they didn’t play out.

The same way you need to tell me that you have made money from crypto two posts above that? Kek. I only mentioned that I’m rich because the guy I replied to implied that I hadn’t made it.

Sure, some people got rich, but most (not all) of you lost money by investing in assets you had no idea how to price/value. “Early adopters” have gotten rich from all huge bubbles throughout history.

it's not pointless. there is still value in having the ability to censorship resistant currency to send fairly instantly anywhere in the world without the need of a third party.

however, the market will determine how much that value is worth. it might not be $20,000. it might be $1. or somewhere in between. who knows. but there is value in the technology

>The same way you need to tell me that you have made money from crypto two posts above that? Kek.
The title of your post is 'You will never make it'. I replied by stating that I made money and did make it. As did many others. It was a response to your assertion that no one here understands finances. You, on the other hand, interjected out of nowhere that you were rich.

I bought 40 BTC when it was $109 USD and sold when it hit 18k. Life is good. Fucking idiots who bought during the bubble or held that shit deserve to be broke for being so fucking stupid.

Right, I am sorry. It’s pointless for everyone except criminals. Before you bring up Venezuela, yeah, I am certain that the Venezuelan fuck who bought Bitcoin last December at a shitty spread is really happy about the fact that it is worth 80% less now, whereas the USD he could have bought instead had barely depreciated at all. That being said, it is also pretty pointless for criminals as long as only criminals use it, because you still need some kind of access point to real money.

So if it goes up, that qualifies me as smarter than them?

What the shit are you on where those concepts are mutually inclusive lol

No one here does understand “finances”. You don’t need to know shit about the market to make money off it. Making money consistently is a different matter though.

Read the post I replied to. The guy said I was salty because I haven’t made it. Literally the same as you replying to my thread title saying that you made it from crypto lol.

Of course some people made money. A lot of people probably made money from the tulip bubble too. Having made money because you got in on a bubble early doesn’t mean that you have a good understanding of finance/investing. The fact that you think it does suggests that you probably don’t have a very good understanding of investing. Most retail investors who bought Amazon at $10 dollar aren’t geniuses, they were just lucky.

yep, it wouldn't be beneficial at all to have a Venmo-type system that wouldn't rely on banks, right? it wouldn't be beneficial for the ~3 billion people around the world who don't have access to banks but have access to cheap smartphones to be able to use that system, right? there are countless other benefits. the shit you are spewing is top-level bitcoin dismissal non-sense. the technology is here and will be used (and is being used) whether you like it or not

Most people who got in on Bitcoin early weren't lucky. They understood that it was an interesting new technology and bought in when it was relatively cheap, just like what buying at Amazon at $10 would be like. That is good investing, not luck.

Nope, it would not be useful at all whatsoever. Three billion people that don’t have access to banks but have phones—even non-smart ones—have access to phone banks. This has been done in third world countries since early 2010. Crypto is about as useful for that use case as it is for just about anything else (spoilers: not useful at all).

They are also much less likely to lose all that money and starve, once it turns out that the developer of their wallet was hacked and pushed a malware update to everyone’s phone. Even better, they could actually pay someone, because there is no fucking way in hell any blockchain system can scale to three billion active users even if you employ some off-chain bandaids like Lightning.

Do the fucking math instead of listening to people whose closest experience with finance was doing tech support at a bank, user-kun; your favorite toy tech is a useless piece of shit, unless you are an exchange operator, in which case it’s free retard money.

Do you unironically believe that most people who bought Amazon at 10$ weren’t extremely lucky? If so, then you really do have very limited understanding of the financial markets.

Are you retarded or something? I bought it early precisely because I didn’t understand that it is fucking retarded. Fortunately for me, more people suffering from the same misunderstanding followed and I took their money.

>smartcontracts are going to fuck up the finance and legal industries

Nobody in either industry has any fucks to give for "smart contracts". They don't need them, and they're just an over-complication layer solving problems they don't have.

>phone banks
lmao. what?

>once it turns out that the developer of their wallet was hacked and pushed a malware update to everyone’s phone.
Bitcoin has never been hacked. And the system does need to improve on the wallet front because it's confusing right now, but you're speaking about this like it happens all the time which it doesn't.

>any blockchain system can scale to three billion active users even if you employ some off-chain bandaids like Lightning

You haven't been watching. This is what the industry has been working on for years and we are constantly getting closer. I agree that we are not there yet. But just because it's not ready yet does not mean you can't dismiss it completely and outright forever.

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This whole thing is playing out just like the dot.com boom, and the housing boom.

When things are up, there are smug twats everywhere making comments like "It's the new paradigm", and "Get in before it's too late!" Dumb middle class mutts made a bunch of money selling their houses, and overnight thought they were real estate experts. And it was insufferable for a while, listening to them huffing their own farts.

Then the crash came, and funny, you didn't hear from them anymore.

The crypto community is boiling down to pajeets, degenerate gamblers, and "true believers", who will ride their meager holdings down to 0, and will defend bitcoin long after it's forgotten.

Crypto, for now, is a failed experiment. It COULD come back later, with a real use-case, and interest, but right now, it's so tarnished and manipulated and lacking any real utility, it's dying a death of a million cuts.

The only good thing is the smug no-lambos have shut the fuck up.

Can confirm. I am somewhat involved in the whole matter and, short of someone keeping a project under a very tight lid, the only thing big money is interested in are “private blockchains” for due diligence purposes. It’s literally the same shit as distributed databases with cryptographic signing that we have had since the early 1990s, but there is good money to be made by marketing them as blockchains. The tech is as good as it ever was, but now people who would otherwise not understand it want to throw money at it.

I guess lucky in the sense that they made money. But it wasn't all luck that brought them to purchase Bitcoin. Most people didn't just stumble upon it randomly out of pure luck and decide to jump through all the hoops to buy Bitcoin through luck.

Following on this-- it's such a pain to purchase Bitcoin that you have to assume that most people conduct at least some sort of basic research into the asset before purchasing. I'd think it's the minority of people who just buy it blindly and got rich out of pure luck.

You are so fucking dumb, user. Google before you make an ass out of yourself. From 2010: deepblue.lib.umich.edu/handle/2027.42/102583
10% or so of Americans are still unbanked. Nice infographic though.

Doesn’t matter if the “industry” (what a fucking joke of a term) has been working towards it. You can’t scale up public ledgers for on-chain transactions to be viable at 3 billion users. Lightning is a fucking joke too, because not only do you need to pre-load funds (which is fucking great when you are living in fucking Congo) but because you need to keep those channels funded, which again requires on-chain transactions. As I told you, stop listening to retards and do some basic multiplication.

That’s not entirely true. When the price dropped to 10k the faggots were posting gifs on reddit about how they are hardened veterans and don’t give a shit that their investment just halved in value. Some still do, although considerably fewer. The rest is spot on though.

Why are you still here then? Leave. Crypto is being used still and will continue to. I've been using it since 2013-ish and seen people toll the death knell so many times, particularly when Mt. Gox got hacked. It always seems to stick around. Anyway, leave if you want because the markets are down you fat pussy.

copy more faggot

I am here to tell you that you are retarded. Nobody said it’s dead. Pointless and dead are two different things.

>You are so fucking dumb, user. Google before you make an ass out of yourself. From 2010: deepblue.lib.umich.edu/handle/2027.42/102583
>10% or so of Americans are still unbanked. Nice infographic though.
HAHAHA what the fuck is this piece of shit you posted from 2010 retard? Forbes just posted about this 4 months ago:

forbes.com/sites/niallmccarthy/2018/06/08/1-7-billion-adults-worldwide-do-not-have-access-to-a-bank-account-infographic/#1c56a1b34b01

you are a literal mongoloid.

This sissy said google would fail too

I’m just a little old man. Ice cream!

if it's pointless than why is it not dead? it's been around for 9 years and it's use has grown pretty much exponentially since then. god damn you are the dumbest fucking person on Jow Forums jesus christ.

You asked what phone banks are. I told you. user, please, when you are in a hole, just put down the shovel. The problem you are trying to solve with dem blockchainz has been solved before Bitcoin even became a thing and was a well-documented phenomenon when Satoshi was still posting. You are literally being more retarded trying to show that you are not retarded. It’s painful to watch.

This. You can still get your bags pumped by a few whales and basically ride the elevator to Lamboland. As long as no one ever tries to go after non-ICO shitcoins, anybody can make it.

I can't wait for this gee golly wilkers old faggot to die.

Fuck you I love my hairdresser she's really sweet

Yep, I bet everyone around the Thanksgiving table today was talking about their phone banks and sending money over SMS! It's really caught on since that 2010 article.

Momentum. You’d know about it if you were exposed to finance outside of crypto. ;-) I also told you already that people interested in crypto don’t actually understand it’s limitations. Even the most prolific figures strongly invested in this space—I.e. not Peter Thiel who put in some pocket change—are like lower middle tier of the society, who don’t have a fucking clue what they are talking about. That Greek-named dude for instance whose video I’ve watch a few days ago I ironically thinks that smartphones becoming cheaper on per MHz basis constitutes “deflation”. The entire fucking space is filled with retards and people making money off retards. It’s a fucking blast.

It has. I am not in developmental economics, but I know people who are active in the field. At least a few years ago when I last spoke to them on the matter, the adoption was pretty rapid. Bill Gates and his wife are also advancing is fairly rigorously, because it works well in the areas they are active in. The bank itself is only a part of the overall package and not that spectacular. Being able to get accurate grain prices is much more important for farmers, which is something that was very difficult previously and led to them being skimmed by middlemen left, right and center. Lower spreads on grain leads to higher living standards and more capital investment, both very important.

Maybe you should kind of read about it first and then start dreaming up this great fantasies about how blockchain will solve problems in a less efficient manner that were solved a decade ago, user-kun.

>not Peter Thiel who put in some pocket change
Peter Thiel invested 15-20 million in Bitcoin iirc. also there are multiple giant investment firms/billionaires investors in bitcoin who aren't 'lower middle tier'. you literally have no idea what you are talking about.

also the Greek person is andreas antonopoulos. not sure what video you're referring to though.

I mean, shit, it took me one google search to get a World Bank article on the matter.

> Between 2011 and 2014, the percentage of adults with an account increased from 51 percent to 62 percent, a trend driven by a 13 percentage point rise in account ownership in developing countries and the role of technology. In particular, mobile money accounts in Sub-Saharan Africa are helping to rapidly expand and scale up access to financial services. Along with these gains, data also show big opportunities for boosting financial inclusion among women and poor people.

worldbank.org/en/news/press-release/2015/04/15/massive-drop-in-number-of-unbanked-says-new-report

Can you just admit that you have no fucking idea what you are on about or do we need to draw this out even longer?

when I google "phone banks", literally nothing comes up.

>worldbank.org/en/news/press-release/2015/04/15/massive-drop-in-number-of-unbanked-says-new-report
that's great. still 2 billion unbanked individuals. and you posted an outdated article. I just posted one above from 4-5 months ago that has updated numbers. still 1.7 million unbanked. i'm still not sure what your point is? are you saying that Bitcoin can't help these people whatsoever?

That’s pocket change and completely in line with money management rules for trading. I just opened two short equity positions this morning at around this allocation that may—but probably won’t—be whipsawed at any time. I will probably forget I even had them in two weeks time.

Yeah, that Greek-named guy. Complete fucking retard. Any econ grad student who finished a course of monetary economics would roast his ass a minute into his opening remarks. The fact that he is one of the most popular speakers in the crypto community is kind of enlightening.

are you just a retard and mean to say "mobile banking"? if so, it's the same thing as saying 1.7 billion people don't have access to banks.

>That’s pocket change and completely in line with money management rules for trading. I just opened two short equity positions this morning at around this allocation that may—but probably won’t—be whipsawed at any time. I will probably forget I even had them in two weeks time.

right...

>Yeah, that Greek-named guy. Complete fucking retard. Any econ grad student who finished a course of monetary economics would roast his ass a minute into his opening remarks. The fact that he is one of the most popular speakers in the crypto community is kind of enlightening.

highly disagree. if you can find a video him looking silly or losing a debate about the pros/cons of cryptocurrency, please post it here.

Yes, that’s my point. The progress is very good, but it takes time. If these people are still unbanked there are other reasons for it. Your article does nothing to rebuke the simple fact that mobile banking is incredibly useful and gaining traction.

Lets look at this way
>War happens, BTC cashes you out
>China happens, BTC cashes you out
>Ethnic cleansing happens, BTC cashes you out
>Authoritarian control happens, BTC cashes you out.

You are free to join the get rich schemes all you want, nobody gives a fuck when it does have an actual usage.

“Right” what? His net worth is around two billion. A twenty million trade is 1% of that. If you somehow think that a 1% trade is somehow going to concern him, you are out of your fucking mind and don’t know a first thing about capital markets. It’s literally just probabilities of success and as long as you keep throwing small enough amounts into investments that have higher upward probabilities than downwards ones, you will make a net profit. When Thiel invested into Bitcoin it had a very strong upward momentum. I further increased my position around the same time too, then closed it when the trend changed. Dude, please, just give up already.

As for the Greek dude, yeah, no, I’m not going to force myself through anymore of that comedy to find you the one time he is talking to someone who is not retarded. I think the most interesting debate these cryptotards have had was with Peter Schiff, who himself espouses nothing but Austrian crap from a century ago. Even then EVEN PETER SCHIFF was closer to truth than his opponent. Peter fucking Schiff was being the lesser clown? Get that through your fucking head.

you must be autistic. you see the benefits of 'mobile banking' but you don't see the benefits of a mobile app that sends cryptocurrency. it's the same fucking thing without banks THESE PEOPLE DONT HAVE ACCESS TO BANKS. instead all these people have to do is download an app/wallet and they can be sent money. they dont have to go to a bank and sign up for an account. they dont have to wait 3-5 business days for a wire to go through if there is some emergency. if they live in some backwards middle-eastern country, they dont have to worry that money being sent to them from a western country will be stopped by the bank because they think it's funds for terrorism. they don't have to pay remittance fees. if they get pulled over by the cops and have cash on them it cant get seized by civil forfeiture. there are countless other benefits.

that 'right' was directed toward you saying you make such big transactions, not the size of thiel's trade

Explicitly called it phone banking because it is very different from the mobile banking you know about. I think “mobile money” may actually be the correct term, but at this point you are just diverting attention to words to hide the fact that you didn’t even know this was a thing an hour ago.

Most of the phones these people have can’t actually run a wallet. You have seen to many “refugees” from Syria. It’s typically a dumb phone. I am really not terribly interested in going over all those points again. We did it already way higher in the thread and your entire argument boiled down to the “industry” working on it. Well the “industry”, aside from exchange operators, consists of retards. What other points do you have?

Yes, it was an obvious bubble. I sold in 2017, made bank. Friends lost a ton. But goddamn do I hate cunts like OP. That's the main thing I learned from this crazy ride, is just how petty and cruel the average person can be over these things. People are already borderline suicidal over their stupid mistakes, and you want to rub salt in their wounds. Eat a dick nigga.

I may or may not. The ones this morning were considerably smaller those, because they were made with my own funds. The allocation remains the same. Basic money management. If you are phased about losing a 1% trade, you shouldn’t be trading and do something more useful with your life.