BITCOIN

cheapskate1983

Pearce7630 said:

Is investing in Bitcoin really worth it or is it all just a scam ? 

As someone who has made well over 6 figures in Bitcoin and other cryptocurrencies in the last 2 years I can tell you that the vast majority of the cryptocurrency market is a scam. Proof is in the picture below: Not bragging, just being up front and genuine..

1 of my many portfolios. 

The question you should ask yourself is are you willing to research the market and find out which cryptocurrencies are genuine stores of value?

There are a lot of snake oil salesmen in the crypto-market. Everything from signal groups to exit liquidity pumpers. 

I've been in the market since Feb 2019, after I had to write a huge essay for my Open University Comp Sci degree.

I've became friends with a lot of great influential people including the legendary twitter bear 'Cryptowhale'. Proof below. Big picture.



To put it bluntly the whole cryptocurrency market is propped up by a stabelcoin called Tether and IT IS NOT BACKED 1 for 1 against the Dollar. Tether cash reserves are about 3% and currently they are scrambling to create Bonds with El Salvador to try and fix their phony balance sheets. 

Bitcoin is a bad investment choice right now. Especially at the current price. 

From July 2021 to the current day the volume against the USD and GBP was terrible low but volume in Tether is high. 
Tether have been printing non stop to keep the Bitcoin price up. 

The Bitcoin metrics which you can view on the website Coinmetrics dot io show the real truth of the Bitcoin market and the future price of the network in the coming months. Big wallets have been dumping on retail investors since 2018!!


 
Ethereum is also in a similar position as Bitcoin to April 2020 so please don't invest in that. You will get rug pulled and rekt. 

I'm in the top 0.2% of XRP wallets and I've been through a lot of hard market plays. I can tell you that every person in crypto will try and shill you the coins that they hold. Im not tell anyone on here what to buy because YOU NEED TO DO YOUR OWN RESEARCH.

Being a free thinker and literally learning about the cryptocurrency market is the best weapon you have in making money in this market. 

An easy method to make money in Bitcoin is buy when there is extreme fear and sell when there is moderate greed. 
Red line = greed
Green line = fear.



Hope this is helpful. 

Scottex99

This is going to get interesting now but see other thread. 

Calls Tether a scam but openly holds XRP. 

Oh and $250k doesn't make you a whale, FYI

Section62

adindas said:

More stupid reasoning because you acknowledge you do not how to value the BTC and high growth stocks in general but talking a lot of bla bla bla nonsense about valuation. As it seems that the dialogue has turned out to become the dialogue of the deaf, I will be using a more authoritative approach.

If you aren't understanding the inappropriateness of that phrase, despite two different people pointing it out to you, how can you expect people to give credence to your analysis of the far more complicated subject of crypto?

adindas said:

See what this wall street analists are valuing this MARA stock where for some poele they are mining worthless assets (mining sh1te). Do you think you know better than these wall street analysts

Never has a typo been more accurately used.

bugbyte_2

@adindas

Re: Warren Buffet and you telling others what they think. You found one post from five months ago where the poster was responding directly to your post and was therefore in context about something you wrote. Sorry, but that does not constitute 'people' following WB blindly, and was 70 odd pages ago. So yes you have been called out because to be honest constantly telling others what they think whilst insulting them is annoying, especially when you are so, so wrong. 

Re: Matt Damon and fortune favours the brave. If you are relying on being 'fortunate' to make money then good luck to you but that is very close to gambling. The rest of us will do the usual calculated risk vs reward thing.

Re: Something about multi billionaires (excluding the ones that do not share your world view). Where does the money come from to drive bubbles? In 1999 Jeff Benzos heavily invested through Amazon in Pets.com and owned 54% of the company. The company then raised $82.5 million in a February 2000 IPO but filed for bankruptcy nine months later. Pets.com's business model was laughable in hind sight, but people, inc. JB still piled in. So yes, people do get it wrong.  

Not speaking for others but you can acknowledge that blockchain exists, has uses and coins can make a spectacular return on investment (if you get 'fortunate') whilst also acknowledge that most coins esp. BTC does depend to varying degrees on greater fool and there is no clear way of ascertaining value apart from market sentiment.

Anyway, here's a picture to make you happy.

Zola.

Crypto Whale is a lying scammer. Jesus I'm gonna stop coming to this thread. So much nonsense and life is too short 😂

Scottex99

And here I was hoping for a nice 30 post argument about Ripple

grumiofoundation

Scottex99 said:

And here I was hoping for a nice 30 post argument about Ripple

I prefer a twirl myself. 

Frequentlyhere

Zola. said:

Crypto Whale is a lying scammer. Jesus I'm gonna stop coming to this thread. So much nonsense and life is too short 😂

Who would they be gaining from?  In any case (maybe I'm wrong) isn't all of the information they supply a matter of public record?

Frequentlyhere

@cheapskate1983 , too right about Tether and the wider implications. That unwinding, as it must one day, is going to be a bloodbath.
Just unbelievable that this set of circumstances has allowed an ex-cosmetic surgeon and his shadowy pals to print $70bn+ of "money".

Zola.

Tether is very much BS, and its failure would be fantastic and cause the collapse of Bitfinex, Binance, and others. But this would be fantastic for Bitcoin. Bitcoin's price is not being propped up by Tether. Tether markets are not spot markets, cannot engage on spot markets. Tether gets "printed" when people exchange sh*tcoins for bitcoin. Or whenever Bitfinex wants to. No one should touch it and if you do, that's your blind risk-taking

Some sh*tcoin exchanges don't use fiat to avoid regulators - they use company giftcards we call "stablecoins" to exchange bitcoin for shi*tcoins indirectly, you use these company gift cards. Exchanges are also greedy and are desperate for trading volume - and sh*tcoins and their "defi" scams thrive around stablecoins

Tether is building on sand. If I was a Tether holder and they started to collapse I would sell into BTC. Regarding the broader market, there are others that perform the same function as Tether so it's hard to imagine that new money will struggle to get in. Hence the FUD