Message from @Exilarch
Discord ID: 396047911063912458
people wil always buy it
and sell it
BITCOIN IS AS VOLATILE AS SOME SLUTTY SOUTH AMERICAN COUNTRY.
convince your average wealth management guy to buy bitcoin
he will tell you to fuck off
even if it were a couple of bucks
THEY MATTER WHEN YOU CAN'T LIQUIDATE A POSITION BEFORE YOUR STRATEGY IS COMPROMISED BY VOLATILITY.
wait that's what they did
THIS IS NOT THE CASE IN REAL ESTATE, NOT TO THIS EXTENT.
i know a guy who cashed in at 17k per coin
1 coin
that's an argument from authority without even specifying a specific authority
cashed out his wallet at 12k
I'm not saying you are wrong per se, but your thinking there sucks
it doesn't suck. he couldn't cash out when he wanted so he lost money
due to the massive transaction time
+ the exchange time
he has infinite money
DO YOU KNOW WHY WALL STREET LIKES IT? BECAUSE THEY LAUGH AT THE CHUMPS THAT INVEST IN IT.
all he has to do to get more money is fucking live due to trusts
"OH I'LL TAKE 1 AND 10 TO MANAGE YOUR SHITCOINS FOR YOU, SURE. LOL."
it works on dumber people but not me
I MOCK AND THINK. I THINK SARCASTICALLY.
LET'S SEE. ECOMMERCE FOR SOYCOIN DROPPED YEAR-OVER-YEAR AND CONTINUES TO BE ON THE DECLINE.
titus - your dude sold at 17, but realized 12k of it. IF he invested when it was worth something measured in the hundreds, he'd still have made a fat return
volatility basically ceases to matter on a long enough timeline
@Exilarch I SOUND CRITICAL. IN REALITY, I LOVE BITCOIN BECAUSE IT HAS ENABLED AN ENTIRELY NEW CLASS OF IDIOT TO EXPLOIT.
exactly
there was no way to predict the bubble when it was in the hundreds
there is no way to predict it
so? how do you proceed when you don't know the likely future?
there must be a way to do so
given that most of hte liquid currency is in it due to fucking drugs
@Death Strike's Bat THIS IS TRUE. HOWEVER, AS AN EXAMPLE, YOU CAN BE SOME NOBODY PENNY STOCK, ANNOUNCE YOU'RE DOING AN "ICO" AND SEE YOUR STOCK 240%+ OVERNIGHT.
with traceable transactions
your chance of a cash out is pretty fucking bad.
if you got in on the ground floor and now it's here, even losing 50% value between sell and actual cash received is still a huge price increase
so...
there's no way to know to get in on the ground floor and you wouldn't be able to cash out a large amount now
there are websites where you can use bitcoin to directly buy stock portfolios