Coiners: “We want to be taken seriously and treated as legitimate businesses!”
Biden Government: “OK. We’ll treat you as legitimate businesses in your respective fields and expect you to comply with the same regulations everyone else has to.”
Coiners: “Oh shit wait no this sucks, our whole business model only works because of crime, quick everyone vote for a fascist conman!”
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Every time the price spikes I get the feeling its large holders cashing out while they can and the liquid from newcomers is available. Which would make it mostly a scam, kinda like the stock market but even more shallow somehow, as if the stock market wasn’t unrelated enough to actual production and very esoteric.
kinda like the stock market
It’s basically the same thing. People cry about crypto being a pyramid scheme without talking about how pyramid schemes are a major foundation of the whole economy. People cry about how crypto isn’t a worthwhile currency while the dollar (ie. paper covered with pictures of slave masters) is constantly losing value.
It is literally going to be a feeding frenzy on idiots.
Shitcoin and the Orange turd both need to be flushed but they keep sticking to the rim.
Honestly, waking up and seeing my balance was the only thing that kept me from ending myself the day after the election.
So glad I invested when the price was at $20k and everyone was calling it a “scam”. Good thing I didn’t listen. Bitcoin literally saved my life.
You should probably seek professional help if market changes have this kind of effect
Idiots. Short it and make money.
the market can remain irrational far longer than you can remain solvent.
the world is full of bubbles right now but the wisest move is to hoard cash while the trumpets are playing and buy everything after the dust settles. like warren buffet isnt trying to time the crash, its long overdue.
Hoarding fiat currency will always end worse than slowly trading it for assets that hold or increase in value. All the while: government money loses value by design. Attempting to time a crash and call the bottom is more akin to gambling than investing.
the wisest move is to hoard cash
I disagree, market timing fails more than it succeeds. The better bet IMO is to diversify your investments. When one bubble pops, you’ll have assets in other sectors/regions/etc that aren’t in a bubble and get the investment dollars from people fleeing the bubble.
Warren Buffett hoarding cash doesn’t mean you should hoard cash. He’s hoarding cash because he’s a sophisticated investor with a long track record of being able to find good deals, and he sometimes buys entire companies outright, and having a large cash balance makes that a lot easier. He also frequently funnels that money into stock buybacks instead of leaving it in cash. He doesn’t know if the market will crash next year on in a decade, because as you said, the market can remain irrational.
Do what Warren Buffett says, not what he does: buy and hold a broad market index fund (he recommends the S&P 500).
That’s what I’m doing. I’m rebalancing my investments more regularly because I do expect this temporary run-up to drop, but I’m unwilling to try to time the market. I have a target US/international ratio, and I’m making sure that’s correct (my US portion has grown faster than international). I have also decided to pull the trigger on a small-cap value tilt after watching some good videos by Ben Felix, so I’ve been completing that transition as well. I intend to keep this portfolio for >10 years (probably through retirement, but we’ll see what happens when there’s new research).
Bitcoin has been going up since 2009, lol. Bubbles pop and die. Internet stock had the dot com bubble and kept going up later.
Go ahead and short bitcoin right now. lmao.
(Seriously though wait until it peaks ffs.)
