Conversation between a crypto investor in prison and someone that can add 2 numbers:
"I'm going to hold onto these 3 cigarettes, as more people come to prison the price will go up and I will sell them for 10 cars! Genius!"
"What are you saying you fool, get out of my face, I've never heard anything more stupid"
"You will dearly regret your words permabear, you do not understand that those cigarettes have value because people want to smoke them. They CANNOT drop in value"
I hope it soon goes down from here, I'm in a hurry to say "told you so".
The price of this ponzi scheme can go up when governments, in particular the USA, give free "money" to their populations.
A few suckers are always going to spend essential ressources on stupid stuff, a part of student loans end up in crypto ponzi schemes, a part of "stimulus checks" or whatever they call it.
The USA ponzi scheme, the us dollar, is probably going to collapse soon, Bitcoin believers actually think when this happens BTC goes up. HAHAHA 😆
They're going to get a violent surprise 🤣
The Halving bull run is over, the US free money is over and the next wave is not for soon, this is a perfect time for this scam to jump down.
What a disgusting downtrend with huge pullbacks up.
A new world order is coming soon, the perma bull market paradigm is ending very soon.
I have never been more certain of it: all that was driving the price up to those super expensive levels were buybacks.
The current world order is the USA world order in case you didn't know, and the USA are entering the greatest depression they ever had.
I cracked up when I looked at Powell 60 minutes interview, when he was asked "will we call this the great depression", his face, his face man, and the answer! Priceless! 😂
Bitcoin baghodlers that don't care about the global economy and just look at their beloved ponzi schemes, are going to get a violent surprise and a pricey lesson.
Bitcoin baghodlers that think Bitcoin will go up when we enter a depression HAHAHAHAHAHA! 😆 Not delusional at all!
Yes, I can imagine, 30% unemployment, huge debts, people fighting to survive, going hungry, first thing on their mind "hey let's buy lots of Bitcoin!"
Well gambling goes up with poverty, but I don't think it will be enough...
Alcatel bagholders were right. And lost over 95% of their money.
![Another speculative bubble: Alcatel-Lucent [Banking] [Crypto]](https://tradingview.sweetlogin.com/proxy-s3/e/EjsNbYL5_mid.png)
Sugar bagholders were right. Demand went up several orders of magnitude.
How to know where to sell? Draw some arc or something?
I don't think this asset class is worth playing with. What an absolute waste of time.
The cow is pretty dry. Let suckers slowly lose their money. Not worth the effort.
All I know is:
"I'm going to hold onto these 3 cigarettes, as more people come to prison the price will go up and I will sell them for 10 cars! Genius!"
"What are you saying you fool, get out of my face, I've never heard anything more stupid"
"You will dearly regret your words permabear, you do not understand that those cigarettes have value because people want to smoke them. They CANNOT drop in value"
I hope it soon goes down from here, I'm in a hurry to say "told you so".
The price of this ponzi scheme can go up when governments, in particular the USA, give free "money" to their populations.
A few suckers are always going to spend essential ressources on stupid stuff, a part of student loans end up in crypto ponzi schemes, a part of "stimulus checks" or whatever they call it.
The USA ponzi scheme, the us dollar, is probably going to collapse soon, Bitcoin believers actually think when this happens BTC goes up. HAHAHA 😆
They're going to get a violent surprise 🤣
The Halving bull run is over, the US free money is over and the next wave is not for soon, this is a perfect time for this scam to jump down.
What a disgusting downtrend with huge pullbacks up.
A new world order is coming soon, the perma bull market paradigm is ending very soon.
I have never been more certain of it: all that was driving the price up to those super expensive levels were buybacks.
The current world order is the USA world order in case you didn't know, and the USA are entering the greatest depression they ever had.
I cracked up when I looked at Powell 60 minutes interview, when he was asked "will we call this the great depression", his face, his face man, and the answer! Priceless! 😂
Bitcoin baghodlers that don't care about the global economy and just look at their beloved ponzi schemes, are going to get a violent surprise and a pricey lesson.
Bitcoin baghodlers that think Bitcoin will go up when we enter a depression HAHAHAHAHAHA! 😆 Not delusional at all!
Yes, I can imagine, 30% unemployment, huge debts, people fighting to survive, going hungry, first thing on their mind "hey let's buy lots of Bitcoin!"
Well gambling goes up with poverty, but I don't think it will be enough...
Alcatel bagholders were right. And lost over 95% of their money.
Sugar bagholders were right. Demand went up several orders of magnitude.
How to know where to sell? Draw some arc or something?
I don't think this asset class is worth playing with. What an absolute waste of time.
The cow is pretty dry. Let suckers slowly lose their money. Not worth the effort.
All I know is:
Note
Going to add a little:1- Comparing the finite or not finite supply
2- "Last time they said"
How is "last time bears said it goes down and it went up therefore now it will only go up" an argument?
That's the stupidest "argument" I ever heard. I feel bad acknowledging its existence. God that's stupid!
3- Nokia was early, it didn't go up as much as Bitcoin which had 3 bull markets where it crashed and recovered
Good luck finding Nokia price in 1915-1994,
and very good luck finding stories about previous bubbles,
and good miracle finding quotes by bulls of the past.
I don't mind. Suckers are less likely to learn from the past if the past just vanishes.
More bubbles to profit from!
I just find it pretty sad that history swallows it all and it's as it never happened.
Nokia history is interesting, if I find an old finish or swedish chart and some history I'll make a Nokia specific idea.
Anyway, Nokia had way more bubbles before the big mainstream one.
One reason why they are so hard to find: they were small, local, unknown by the public, just like Bitcoin in the 2011 bubble.
CNBC goes all the way back to July 2011 (misses the 12 first months - BTC rly didn't "exist" before July 2010)
cnbc.com/quotes/?symbol=BTC=
According to yahoo, Bitcoin only is traded since September 2014 :)
finance.yahoo.com/quote/BTC-USD/
BusinessInsider goes all the way back to May 2013
markets.businessinsider.com/currencies/btc-usd
Even Coindesk only starts BTC history in late 2013 🙃
Their site is pretty laggy, struggling to pay the bills already?
coindesk.com/price/bitcoin
Coinmarketcap starts BTC chart in April 2013 😉
coinmarketcap.com/currencies/bitcoin/
You get the point.
Bitcoin going down like every previous "sure thing" bubble, the hype is slowly fading away over the years.
The bulls will vanish and hide and never show their faces again.
This will all fade away like it always does, BTC will be forgotten, the hype will be forgotten, it will be as it never happened, and all that will be left of it will be in books as well as finance students learning about it in a 5 minutes presentation in class, and laughing at it.
Goodbye Bitcoin hype.
Actually I will be part of the main reason why BTC is remember since I'll keep yelling on rooftops that I was a bear and I was right and I told every one it was a ponzi and was laughed at 😊
Thanks to ME and my big mouth, Bitcoin will not completely vanish in history.
Note
Unsurprisingly Bitcoin "investors" are absolutely obsessing over Nokia and coming up with "there are differences" "can't compare 2 thing unless they are 100% equal up to the smallest detail".Tulips are popular in the entire world. Big success. And yet in 400 years the price has not recovered to the bubble ath.
Cable has spread everywhere. Alcatel was still down 98% at the time of purchase in 2016 I think.
Mobile phones same same.
The internet got big and Netscape which was listed at $28 a share during IPO in 1996 is worth 0. AOL bought it in 1999. It's even extremely hard to find price charts for those. AOL Time Warner? AOL alone? What should I look at? Where is the 2000s chart? All I see is 2010.
nbcnews.com/tech/tech-news/verizon-signals-its-yahoo-aol-divisions-are-almost-worthless-n946846
There are plenty of less famous examples. Here Tulip is famous because Tulips, and internet stuff is famous because quite recent, it's still in my memory.
The point is obvious. It's not about being right. Tulips were a success. The internet was too. Mobile phones too.
Even thought they were "right" (must be hard being right about something every one knows), investors that got all excited and bought the bubbles lost their money.
Crypto investors really think they're all master minds?
Or do they think any random guy picked off the street can make money with no edge?
They think it's a "if I'm proven right and crypto gets adopted you will eat your words" thing.
No it's not. If crypto gets adopted I won't blush and cry and hide keep dreaming 😆
If crypto gets adopted they will lose their money anyway and I will laugh at them and piss myself 🤣
Money only grows on trees if you work at a bank.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.