I just bought $200,000 of Bitcoin

[Neeranam]

Just now, ozimoron said:

By that definition, my cold wallet is still counted as a user, as I suspected. I did not fully empty it. Also bear in mind that whales own most of the BTC so the measure of users isn't very useful.

I think it is useful to see the adoption. 

[ozimoron]

Just now, Neeranam said:

@ozimoron Twitter is the best place for real information.

I don't use any social media site except Line because I don't believe social media is a good place for info.

[Neeranam]

On September 7, 2021, El Salvador became the first country in the history of the world to adopt bitcoin, the world’s new currency.

Remember those words, as they will be engraved in the history of money.

https://bitcoinmagazine.com/print/stop-drinking-the-elites-kool-aid

[Mac Mickmanus]

2 minutes ago, Neeranam said:

On September 7, 2021, El Salvador became the first country in the history of the world to adopt bitcoin, the world’s new currency.

Remember those words, as they will be engraved in the history of money.

https://bitcoinmagazine.com/print/stop-drinking-the-elites-kool-aid

It needs to be pointed out that El Salvador also used the US $ as a currency

[ozimoron]

4 minutes ago, Neeranam said:

On September 7, 2021, El Salvador became the first country in the history of the world to adopt bitcoin, the world’s new currency.

Remember those words, as they will be engraved in the history of money.

https://bitcoinmagazine.com/print/stop-drinking-the-elites-kool-aid

El Salvador’s $425 million bitcoin experiment isn’t saving the country’s finances

 

https://www.cnbc.com/2022/06/25/el-salvador-bitcoin-experiment-not-saving-countrys-finances.html

[Celsius]

5 minutes ago, Neeranam said:

On September 7, 2021, El Salvador became the first country in the history of the world to adopt bitcoin, the world’s new currency.

Remember those words, as they will be engraved in the history of money.

https://bitcoinmagazine.com/print/stop-drinking-the-elites-kool-aid

https://www.bloomberg.com/news/articles/2022-11-10/el-salvador-s-bitcoin-holdings-devalue-60-amid-crypto-selloff

[Neeranam]

1 minute ago, ozimoron said:

El Salvador’s $425 million bitcoin experiment isn’t saving the country’s finances

 

https://www.cnbc.com/2022/06/25/el-salvador-bitcoin-experiment-not-saving-countrys-finances.html

Please read the article, don't believe a word you hear on CNBC.

[Neeranam]

2 minutes ago, Celsius said:

https://www.bloomberg.com/news/articles/2022-11-10/el-salvador-s-bitcoin-holdings-devalue-60-amid-crypto-selloff

Did you even open the link I posted lol?

 

Most of you have surely seen this, right? They’re all over. Every financial publication, every major news organization, every newspaper in the world, all the credit rating agencies, and all the international financial organizations are saying the same thing, as if they were in a choir.

But is any of this true?

Well, you just need to read their articles and listen to their “experts” saying that all of this happened after El Salvador lost around $50 million because of bitcoin’s plummeting price on exchanges. Since we are not selling any bitcoin, this statement is obviously false. But for the sake of making a more profound analysis, let’s say it was entirely true, which of course it’s not, but bear with me.

 

https://bitcoinmagazine.com/print/stop-drinking-the-elites-kool-aid

[ozimoron]

Just now, Neeranam said:

Please read the article, don't believe a word you hear on CNBC.

That is a problem. Not so much that you don't believe it but that you don't consider it. Unless you read widely you only get an echo. That's why you are shilling bitcoin which is a spectacularly bad investment right now. There is a huge amount of research out there reported in lefty sites which you disregard which should have given you pause for thought when you went all in for crypto.

[Neeranam]

Just now, ozimoron said:

That is a problem. Not so much that you don't believe it but that you don't consider it. Unless you read widely you only get an echo. That's why you are shilling bitcoin which is a spectacularly bad investment right now. There is a huge amount of research out there reported in lefty sites which you disregard which should have given you pause for thought when you went all in for crypto.

I am definitely NOT shilling BTC, I don't particularly like it! 

 

I am just bored of seeing the haters making up nonsense about how BTC is going to zero or other such ignorant statements. 

[ozimoron]

5 minutes ago, Neeranam said:

I am definitely NOT shilling BTC, I don't particularly like it! 

 

I am just bored of seeing the haters making up nonsense about how BTC is going to zero or other such ignorant statements. 

I haven't seen "going to zero". I for one think it's going a LOT lower before eventually slowly rising again. Take a BTC chart and zoom out 5 years. You'll see where it's going back to, same as stocks for that matter. Gold has been a shocking investment for some time now.

 

I believe we are headed into a deep recession if not a full blown depression. I hope I'm wrong but so far it's looking that way. That will severely depress asset prices.

Edited November 22, 2022 by ozimoron

[lkn]

34 minutes ago, ozimoron said:

By that definition, my cold wallet is still counted as a user, as I suspected. I did not fully empty it

Furthermore, trading coins on an exchange is not really “adoption”.

 

Four days ago the Financial Times did an interview with the CEO of Coinbase, this is how it starts: “Ahead of my lunch with crypto exchange chief Brian Armstrong, his team tell me they had tried to find a decent restaurant in San Francisco that accepted crypto as a payment. But alas, no luck”.

 

So the PR team at CoinBase can’t find a decent restaurant in San Francisco (filled with tech startups) that accepts crypto? Oh right… still early, it has only been 13+ years…

 

Also, look at how much of the coins are actually just sitting on the exchanges. Yes, we have seen adoption, but among gamblers, libertarians, and former goldbugs!

[Neeranam]

13 minutes ago, ozimoron said:

I believe we are headed into a deep recession if not a full blown depression. I hope I'm wrong but so far it's looking that way. That will severely depress asset prices.

Indeed, I wouldn't touch stocks with a bargepole. I feel sorry for those who thought they were a safe investment. Actually, they are probably hating here so much as they are hurting. 

 

Good luck whatever you choose. I know many who are sorry that they sold their Crypto. I don't know any who held for 3 years+ and are sorry.  

 

Whatever you do, don't buy when BTC starts hitting all time highs. 

[Celsius]

25 minutes ago, ozimoron said:

That is a problem. Not so much that you don't believe it but that you don't consider it. Unless you read widely you only get an echo. That's why you are shilling bitcoin which is a spectacularly bad investment right now. There is a huge amount of research out there reported in lefty sites which you disregard which should have given you pause for thought when you went all in for crypto.

 

It is not an investment. It is a gamble. It was a good gamble in the past, but this stuff will be so regulated now that 10x, 100x will be pretty much impossible. Easy money.... it's done. It will be like Thailand real estate. Easy to buy, hard to sell.

[spidermike007]

My heart goes out to you at this time. With Botcoin under $16,000, I guess one has to hope for a recovery. Have some friends who got caught up in the frenzy, and invested most of their savings when ether was nearly $4000. They asked my advice. I replied never buy anything near its historic peak. 

[ozimoron]

5 minutes ago, Neeranam said:

Indeed, I wouldn't touch stocks with a bargepole. I feel sorry for those who thought they were a safe investment. Actually, they are probably hating here so much as they are hurting. 

 

Good luck whatever you choose. I know many who are sorry that they sold their Crypto. I don't know any who held for 3 years+ and are sorry.  

 

Whatever you do, don't buy when BTC starts hitting all time highs. 

Why would anybody be sorry they sold crypto? None of them have made money out of HODLing in the past year..

Edited November 22, 2022 by ozimoron

[Celsius]

Just now, spidermike007 said:

My heart goes out to you at this time. With Botcoin under $16,000, I guess one has to hope for a recovery. Have some friends who got caught up in the frenzy, and invested most of their savings when ether was nearly $4000. They asked my advice. I replied never buy anything near its historic peak. 

 

I had a buddy who "invested in celsius". He was actually bragging on forums about his almost 1 million dollar investment bringing him almost $800 weekly. Very good return during low interest rates. I actually have forum posts with his bragging, but I am not sure if allowed to post here. Now he is broke and hence me adopting this user name. A genlte reminder never to be a loser like him.

 

[Neeranam]

Just now, ozimoron said:

Why would anybody be sorry they sold crypto? None of them have made money out of HODLing since about March.

If they sold in 2017, 2011, 2020, or many other dates. HODL does not mean holding for 8 months ???? 

[ozimoron]

Just now, Neeranam said:

If they sold in 2017, 2011, 2020, or many other dates. HODL does not mean holding for 8 months ???? 

OK, so ancient history ????

 

Yes, I admit many people made a motza getting in early. Like Tesla shares.

[spidermike007]

4 minutes ago, Celsius said:

 

I had a buddy who "invested in celsius". He was actually bragging on forums about his almost 1 million dollar investment bringing him almost $800 weekly. Very good return during low interest rates. I actually have forum posts with his bragging, but I am not sure if allowed to post here. Now he is broke and hence me adopting this user name. A genlte reminder never to be a loser like him.

 

I have a friend who bought Bitcoin at $200. He invested $30,000 in 150 Bitcoin. He sold 70 of them at $55,000 each. Not a bad return. He also bought his sister a house. So, he did well. He is still sitting on 30-40.

 

In these markets, the smart people move in and out. Long term positions are a thing of the past. 

Edited November 22, 2022 by spidermike007

[Neeranam]

4 minutes ago, Celsius said:

 

I had a buddy who "invested in celsius". He was actually bragging on forums about his almost 1 million dollar investment bringing him almost $800 weekly. Very good return during low interest rates. I actually have forum posts with his bragging, but I am not sure if allowed to post here. Now he is broke and hence me adopting this user name. A genlte reminder never to be a loser like him.

 

Did you have another username before or are you new to Thailand?

I have friend who had a few BTC and 10s of ETH on there. This was 1/4 of his crypto portfolio; rather foolish to put more. 

[Neeranam]

2 minutes ago, spidermike007 said:

I have a friend who bought Bitcoin at $200. He invested $30,000 in 150 Bitcoin. He sold 70 of them at $55,000 each. Not a bad return. He also bought his sister a house. So, he did well. He is still sitting on 30-40.

 

In these markets, the smart people move in and out. Long term positions are a thing of the past. 

Exactly. However, time in the market is still better than timing the market. 

 

It really isn't rocket science. DCA when there has been a 70% drop, sell at new ALH, rinse and repeat. 

 

I heard the same things 4 years ago. No doubt the same was being said 8 years ago too., or longer ago. 

 

 

https://mobile.twitter.com/RaghavGakhar_/status/1399003908106702851/photo/1

[Celsius]

13 minutes ago, Neeranam said:

Did you have another username before or are you new to Thailand?

I have friend who had a few BTC and 10s of ETH on there. This was 1/4 of his crypto portfolio; rather foolish to put more. 

 

I am not new to Thailand.

[Neeranam]

14 minutes ago, Celsius said:

 

I am not new to Thailand.

So you had another username. 

Fairvenough 

[spidermike007]

1 hour ago, Neeranam said:

Exactly. However, time in the market is still better than timing the market. 

 

It really isn't rocket science. DCA when there has been a 70% drop, sell at new ALH, rinse and repeat. 

 

I heard the same things 4 years ago. No doubt the same was being said 8 years ago too., or longer ago. 

 

 

https://mobile.twitter.com/RaghavGakhar_/status/1399003908106702851/photo/1

He was not getting his cash back. He was taking a cold bath. Imagine the thoughts that went through his head, when it hit $60,000. Well, I guess I am going to have to work the rest of life. Could have, should have. 

Edited November 22, 2022 by spidermike007

[ozimoron]

7 minutes ago, spidermike007 said:

He was not getting his cash back. He was taking a cold bath. Imagine the thoughts that went through his head, when it hit $60,000. Well, I guess I am going to have to work the rest of life. Could have, should have. 

How many times have we all said that?

[Mac Mickmanus]

11 minutes ago, spidermike007 said:

He was not getting his cash back. He was taking a cold bath. Imagine the thoughts that went through his head, when it hit $60,000. Well, I guess I am going to have to work the rest of life. Could have, should have. 

And there are some guys that bought when the price was $60,000 and they are now thinking . Could've had , shouldnt' ve had 

[talahtnut]

I own 100 billion dollars, I hope you are all impressed.

 

[However its an old Zimbabwe dollar note,

possibly enough to buy an egg.

Theres a lesson there somewhere.]

 

 

[spidermike007]

4 hours ago, ozimoron said:

How many times have we all said that?

Way too many to remember! 

[spidermike007]

4 hours ago, Mac Mickmanus said:

And there are some guys that bought when the price was $60,000 and they are now thinking . Could've had , shouldnt' ve had 

And that is the difference between vision, foresight and just following the crowd. The latter is the last reason in the world to invest.