Russell red pilling again. π
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (46)
sorted by:
Yall are silly, kek π it's all love, homie
As a pretty decent crypto trader myself with nearly 2 years of experience learning as much as i can about the field, I will concede, you indeed sound extremely intelligent, both in your field of expertise and outside of it.
Everything you said about crypto is mostly correct too. If the grid goes down, crypto would be rendered useless.
And that's precisely why I sought out to become a trader, not a long term investor. I stay as close to the entrance as I do the exit.
Well thank you kind sir! bows Yes, a big part of me believes that Bitcoin might actually be a product created by the CIA itself, designed to lure anti government individuals into adopting a version of Central Bank Digital Currencies, under the guise of being "decentralized", and a way to free yourself from the control of the central bank.
However, even if that ends up not being the case, there is one peculiarity about ALL cryptos that no one has ever been able to give me a proper answer for.
If crypto is supposed to be an alternate system to the US dollar, when ALL traders spend so much time learning to use tools in hopes of anticipating the price growth of cryptos, why are these price changes continously measured in US dollars??
Indeed I have come across a few professional traders who fully believe in Bitcoin as a decentralized alternative system, that claim to only care about collecting as much bitcoin as they can regardless of any price fluctuations.
However, from all the knowledge I've personally acquired regarding the behavioral psychology (my actual field of expertise I have a degree for, but sadly I can't make money with it) behind what motivates their behavior when they claim to believe this, it really seems that the main driving force behind why they would claim such a thing, is indisputably because of Bitcoin's historical exponential price growth. A price growth that is ALWAYS measured in US dollars!!!
Lol in short, they are operating under the illusory premise that Bitcoin will ALWAYS continue to demonstrate these same exponential growth patterns (in dollars). They believe that bitcoin will continue to express this kind of price growth following every 4 year halving event.
I believe it's entirely possible that one day soon, Bitcoin will have demonstrated a deviation from these USD exponential growth cycles. And the moment the price appears to have stagnated for one of these 4 year cycles, the hype will completely shatter.
I think alot of crypto investors are lying to themselves when they claim they are not in it to make US dollars. I think that gives me a slight competitive edge in and of itself, by the mere act of acknowledging that I'm only investing with the hope of extracting as many US dollars as I can from these price growth (or decay) patterns.
The skillset I've developed in studying technical analysis, Japanese candlestick analysis, and Harmonic pattern identification, can be applied both to anticipated price growth AND also price decreases.
So you bet your ass that in the back of my mind, I'm always waiting for the day the central bank finally collapses and forces the value of all cryptos to fall to 0. Because I am going to have an absolute field day shorting the markets with a 5x leverage haha.
An event like that would almost guarantee I could 10x any investment overnight by shorting a coin until it hits 0 π oh man that would be such a delightful feeling.