BITCOIN

Malthusian

Thank you for confirming the only way to make money from Bitcoin is to sell it to someone else for a higher price than you bought it (aka Greater Fool Theory). Or to put it another way, from somebody else losing money.

For comparison, if someone asked me "How can I make money from shares without someone else losing money", the answer would take one paragraph.

Section62

IvanOpinion said:

Well that busts my theory.  To me it appeared that you could judge the performance of Bitcon by looking at the position of this thread.  When it was near the top it was doing well with the fanbois out in force, but it always seemed to drop a few pages when its value went down.  I was surprised to see it come to the top today given how the price has been collapsing over the last few weeks.

Interesting theory.

I suggest giving it a name - and would propose the "YACC* Index" as a possible option. (pronounced 'Yack')

(*Yet Another Crypto Collapse)

adindas

Malthusian said:

Thank you for confirming the only way to make money from Bitcoin is to sell it to someone else for a higher price than you bought it (aka Greater Fool Theory). Or to put it another way, from somebody else losing money.

For comparison, if someone asked me "How can I make money from shares without someone else losing money", the answer would take one paragraph.

If you are refering to me, no I am not confirming The greater fool theory applies to BTC. In fact it is just the opposite. Re-Read all my posts.

HHarry

adindas said:

Malthusian said:

Thank you for confirming the only way to make money from Bitcoin is to sell it to someone else for a higher price than you bought it (aka Greater Fool Theory). Or to put it another way, from somebody else losing money.

For comparison, if someone asked me "How can I make money from shares without someone else losing money", the answer would take one paragraph.

If you are refering to me, no I am not confirming The greater fool theory applies to BTC. In fact it is just the opposite. Re-Read all my posts.

I’ve read them all.  Basically “Bitcoin is great because some wealthy Tech people have bought it”

Anyone who asks how they are going to make money from it are fed a semi-offensive response.

Could it be that the wealthy Tech people will make their money by selling it on to some other punter at a higher price?  But they can influence small changes in the price  (Elon Musk) in a way that a normal punter can’t, and a small increase can mean fat £££ with a large enough holding.

adindas

HHarry said:

adindas said:

Malthusian said:

Thank you for confirming the only way to make money from Bitcoin is to sell it to someone else for a higher price than you bought it (aka Greater Fool Theory). Or to put it another way, from somebody else losing money.

For comparison, if someone asked me "How can I make money from shares without someone else losing money", the answer would take one paragraph.

If you are refering to me, no I am not confirming The greater fool theory applies to BTC. In fact it is just the opposite. Re-Read all my posts.

I’ve read them all.  Basically “Bitcoin is great because some wealthy Tech people have bought it”

Anyone who asks how they are going to make money from it are fed a semi-offensive response.

Could it be that the wealthy Tech people will make their money by selling it on to some other punter at a higher price?  But they can influence small changes in the price  (Elon Musk) in a way that a normal punter can’t, and a small increase can mean fat £££ with a large enough holding.

ReRead ALL my posts, watch the video about the blockchain. You will find out that I never confirm that BTC is a greater fool theory. In fact it is just the opposite.

Find out the statistics of the distribution of who own BTC around the worlds. Find out who has the power to pull the rug from under. Find out how long will it normally take before the fools find out that they have been conned in The greater fool Theory (compared it to BTC has been in existence since Jan. 3, 2009). Find out who has enough power to pull the rug from under. It is all on this thread. You pull the rug under you will fall alone.

Noone owns BTC more than 5%. In fact it is distributed among multi millions of people around the world. You will need to control 50%+ of a particular asset to dictate the result you want it to be.

In the greater fool theory the scheme is initiated by the mastermind. But again do not believe random people on the internet. We believe what we want to believe in what we have concluded from what we have learned.

Section62

adindas said:

HHarry said:

adindas said:

Malthusian said:

Thank you for confirming the only way to make money from Bitcoin is to sell it to someone else for a higher price than you bought it (aka Greater Fool Theory). Or to put it another way, from somebody else losing money.

For comparison, if someone asked me "How can I make money from shares without someone else losing money", the answer would take one paragraph.

If you are refering to me, no I am not confirming The greater fool theory applies to BTC. In fact it is just the opposite. Re-Read all my posts.

I’ve read them all.  Basically “Bitcoin is great because some wealthy Tech people have bought it”

Anyone who asks how they are going to make money from it are fed a semi-offensive response.

Could it be that the wealthy Tech people will make their money by selling it on to some other punter at a higher price?  But they can influence small changes in the price  (Elon Musk) in a way that a normal punter can’t, and a small increase can mean fat £££ with a large enough holding.

ReRead ALL my posts, watch the video about the blockchain. You will find out that I never confirm that BTC is a greater fool theory. In fact it is just the opposite.

Find out the statistics of the distribution of who own BTC around the worlds. Find out who has the power to pull the rug from under. You ppull the rug you will fall alone.

Noone owns BTC more than 5%. In fact it is distributed among multi millions of people around the world. In the greater fool theory the scheme is initiated by the mastermind. But again do not believe random people on the internet. We believe what we want to believe in what we have concluded from what we have learned.

So your argument is that Greater Fool Theory doesn't apply because there is no "Mastermind"?

Do you have one of those links to the 'rule' where a "Mastermind" is an essential prerequisite for GFT to apply?

Would Matt Damon know?

Scottex99

"Collapsing" haha. Price trades sideways for a few weeks after being the best performing asset of all time, and it's collapsing? 

On the guy getting fished from a fake mining TG group, I don't see how that has anything to do with BTC or Crypto. Anyone that believes you can double your money in a day or make 2000 every 6 hours or whatever it was, is going to lose their money from being stupid regardless.

If a Nigerian Prince email somehow scams you out of 10k, does that mean all gmails must be fraudulent.

You are right that the retail hype always builds when the markets get near new ATHs, but the majority of people on this thread supporting/holding crypto are not fanbois and have been investing for years rather than months. I'm still super bullish long term despite the price being sub $50k right now

IvanOpinion

Section62 said:

IvanOpinion said:

Well that busts my theory.  To me it appeared that you could judge the performance of Bitcon by looking at the position of this thread.  When it was near the top it was doing well with the fanbois out in force, but it always seemed to drop a few pages when its value went down.  I was surprised to see it come to the top today given how the price has been collapsing over the last few weeks.

Interesting theory.

I suggest giving it a name - and would propose the "YACC* Index" as a possible option. (pronounced 'Yack')

(*Yet Another Crypto Collapse)

Any chance of throwing another 'C' on the end ----- YACCC (Yet another Crypto Collapse Currency). If we could attach the blockchain to that we might have something very sellable. 

Section62

Scottex99 said:

Anyone that believes you can double your money in a day or make 2000 every 6 hours or whatever it was, is going to lose their money from being stupid regardless.

I wouldn't disagree with you - essentially the point is that anything which is unregulated and operates online/digitally is just facilitating people exercising their "stupid"[ity].  If you give people the tools to cut themselves with some of them will always find a way to manage to chop off one of their arms or legs.

However, the problem is compounded when (without checks and balances) people are free to scream "Fortune favours the brave!" as if this were some kind of sound financial advice.

We could probably agree on "Fortune favours the well-educated, well-informed, professional investor who has carried out their due diligence" - but that isn't the soundbite the ad-men are looking for.

Scottex99

Yep.

And I guess it's harder for boomers or retail noobs to separate the obvious scams and schemes when there are coins and protocols out there that have generated insane returns. Whether luck or skill or just buying drugs on the silk road, there are still people out there that bought BTC at $5.

Still, anything that guarantees a profit or sounds too good to be true is clearly a scam.

I'm not bothered about soundbites either although BTC and ETH are THE FUTURE OF MONEY and are GOING TO THE MOON haha