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by kolev 4569 days ago
No, I do buy and sell and I profit from Bitcoin, but just like during DotCom many thought they get the stock market (while it was only going up) and invested all their money into it and then they lost everything, don't put more than 10% of your assets as otherwise you're gonna get hurt! I know many who lost millions and their homes during DotCom, so, greed gets you killed! Also, the future of Bitcoin cannot be only in the hands of people who bought it cheap! If you think somebody will buy it at $1,000 and won't mind when it drops down to $0? The higher the price and the more uncertainty there is, the less incentive to buy will there be and we saw this happening when price exceeded $1,000 - volume dropped significantly, nobody wanted to buy. We're getting close to $1,000 again and you see volumes are dropping already.
1 comments
ninjac0der 4569 days ago
If I lose all of my assets in bitcoin it's an acceptable loss. If the US economy tanks and I lose my dollars, I'll be pissed, because I saw it coming.

Second point is this fits my narrative. I will be quitting my job and moving out into a van sometime this year. I feel my only ability to effectively protest against the people of this country is to stop contributing. Bitcoin will serve me much better in this regard.

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kolev 4569 days ago
If US economy tanks, all world economies will tanks, too. Then people will stick to precious metals - something that can be used off the grid, something lo-tech. I am on your side that we have to revolt against ever tightening grip of the US government and Wall Street, but when it comes to finances, too much optimism is not practical, i.e. don't put all eggs in one basket. I'm not saying buy gold as gold is manipulated as well, but there are other currencies as well - CNY (very popular in Forex recently, steadily growing against USD), EUR (hmmm), CHF (growing against USD steadily), etc. It's bad that gasoline takes too much storage space otherwise it's definitely better than gold. Maybe basic drugs are a better choice, too. I think The Walking Dead is a good guide for what's a universal value storage with or without an apocalypse! :)
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ninjac0der 4569 days ago
>If US economy tanks, all world economies will tanks, too.

I think in a few different ways it's possible this wouldn't be the case. Specifically in the event of an all out attack on the US, where the dollar might become useless while bitcoin could fair well. Regardless, I couldn't agree more about gas, drugs and other better doomsday investments, but I think bitcoin serves me in the short-term for more scenarios. I do however have a doomsday trade prepared, moonshine makin'! :D

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