Re: Bitcoin, crypto currencies, block chain

John
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Location: Cambridge, MA USA
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Re: Bitcoin, crypto currencies, block chain

Post by John »

** 12-May-2022 World View: Civility

Look guys, I'd like to allow a lot of freedom in this thread, but
please make an effort to keep it civil.

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Tom Mazanec
Posts: 4180
Joined: Sun Sep 21, 2008 12:13 pm

Re: Bitcoin, crypto currencies, block chain

Post by Tom Mazanec »

I was thinking of asking the same thing, John. It is really getting to the point where people are going to be repelled from this forum.
“Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times.”

― G. Michael Hopf, Those Who Remain

Guest

Re: Bitcoin, crypto currencies, block chain

Post by Guest »

OK, Cool Breeze, here is my proof.

Now post your proof that you bought Bitcoin at 26.


Image


Image

Cool Breeze
Posts: 2935
Joined: Sun Jul 26, 2020 10:19 pm

Re: Bitcoin, crypto currencies, block chain

Post by Cool Breeze »

Just look at the number of "guest" posts obsessed with me being a long term BTC holder. Then look at how it has just gone up and I don't see anything. It's really quite childish.

Guest

Re: Bitcoin, crypto currencies, block chain

Post by Guest »

Bitcoin Elliott Wave Analysis

Top at 69K
Wave 1 down to 30K
Wave 2 up to 48K
Wave 3 down has started. The trend is down.

Martin Armstrong agrees.

COMMENT: Mr. Armstrong, I just wanted to express my thanks. You were the only one who called the high in Bitcoin. You saved my marriage, my home, and my future. I tried to tell a friend who went and took an equity loan to invest in Bitcoin. He may lose his home now. I tried to tell him you warned markets crash when everyone has bought. He would not listen. Your principle applies to everything. Thank you so much. Your WEC saved my life.

See you in Orlando.

OA


REPLY: I know, The NY Post has published how people are losing everything and some are contemplating suicide. This is the normal Boom-Bust Cycle that governs. I know a lot of analysts disagreed with me. All I can say if they did not see this coming, then they were too biased and caught up in the trade for themselves.

As I have said, cryptocurrencies are an asset – not money. They are by no means a safe harbor against “fiat currency” and will NEVER be a store of value because NOTHING ever is.
https://www.armstrongeconomics.com/worl ... cy-crisis/

Guest

Re: Bitcoin, crypto currencies, block chain

Post by Guest »

Microstrategy isn't anything to mess with. It's just a leveraged fund for Bitcoin. Yesterday I bought it because the value of its assets dipped pretty far below the price of Bitcoin. When the price of Microstrategy went back up, I sold it all. I will likely not ever do this again. It was actually foolish to do this but I did it. Microstrategy is too risky. It could go bankrupt.

Guest

Re: Bitcoin, crypto currencies, block chain

Post by Guest »

Bitcoin futures started trading several years ago.


Investor Alerts and Bulletins
Funds Trading in Bitcoin Futures – Investor Bulletin
June 10, 2021

The Securities and Exchange Commission’s (SEC’s) Office of Investor Education and Advocacy (OIEA) and the Commodity Futures Trading Commission’s (CFTC’s) Office of Customer Education and Outreach (OCEO) urge investors considering a fund with exposure to the Bitcoin futures market to weigh carefully the potential risks and benefits of the investment. Among other things, investors should understand that Bitcoin, including gaining exposure through the Bitcoin futures market, is a highly speculative investment. As such, investors should consider the volatility of Bitcoin and the Bitcoin futures market, as well as the lack of regulation and potential for fraud or manipulation in the underlying Bitcoin market.[/quote]

https://www.sec.gov/oiea/investor-alert ... ndstrading

(Securities and Exchange Commission of the US government)


This is a good reminder of what can happen when an asset commences trading in the futures market - it is subject to manipulation of the underlying (Bitcoin in this case), as the SEC states. I don't think Saylor knew what he was up against when he turned Microstrategy into a leveraged fund for Bitcoin, but he is likely to find out. The real panic in Bitcoin is likely yet to come.

Guest

Re: Bitcoin, crypto currencies, block chain

Post by Guest »

[quote = "Martin Armstrong"]Market crashes because EVERYONE who ever thought of buying has bought. Something happens and they try to sell. The market crashes because there I a lack of fresh buying. To survive your own investment decisions, this is lesson #1 – When everyone is talking about that investment as the next exception to reach new heights, it’s time to exit.[/quote]

https://www.armstrongeconomics.com/worl ... cy-crisis/


A similar idea was put forth here months ago --
Guest wrote:
Mon Feb 14, 2022 8:47 am
Tim Cook Owns Cryptocurrency -- So Do 68% of American Millionaires
68% of American millionaires own cryptocurrency, according to a Motley Fool survey. Read on for more details.

Jack Caporal
(TMFJackCap)
Nov 16, 2021 at 1:19PM
This was put out 9 days after the all time high in Bitcoin.

The bus was fully loaded when it went over the cliff. As is always the case. Max bullishness at the top.
But Armstrong makes the further point that when everyone is talking about that investment being an exception, it's time to exit. That's a point I missed and will need to keep in mind in the future.

Guest

Re: Bitcoin, crypto currencies, block chain

Post by Guest »

MicroStrategy owns 129,218 bitcoins as of May 7, 2022. The price for the bitcoins was $4B at an average price of $32,000 per bitcoin.

I'm starting to wonder if this is the next Enron or Worldcom.

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Tom Mazanec
Posts: 4180
Joined: Sun Sep 21, 2008 12:13 pm

Re: Bitcoin, crypto currencies, block chain

Post by Tom Mazanec »

My favorite economist on Bitcoin:
Bitcoin May Luna After All - Ep 809
51,633 viewsMay 12, 2022
https://www.youtube.com/watch?v=nhJA5Hzu0Qk
“Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times.”

― G. Michael Hopf, Those Who Remain

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