Fear of missing out

[new_trader]

So just because a 93% drop was only a few hundred points compared to the 8000 point 40% drop, I guess it wasn't relevant?

The difference is the participants and that cannot be overlooked. The very early adopters of bitcoin were TRUE Libertarians. I know because I have been following Libertarian economists and their media channels for years, before bitcoin even existed.

Many people who are now buying bitcoin or interested in doing so haven't got the foggiest idea what fiat means nor are they anti-establishment. They want to own bitcoin because they think it will make them rich.

If missing out bothers you so much, take out a penny-bet position like the rough, tough, gruff northerner

I might do so just for the fuсk of it, because I know the difference between tarding and real investing. Although I don't think my penny-betting broker allows me to trade such small amounts...I need to find a penny-betting broker which has a baby rattle as its logo...

 

[brewski1984]

If missing out bothers you so much, take out a penny-bet position like the rough, tough, gruff northerner

Go for it, let us know when you've bought in

I might do the same

 

[counter_violent]

Go for it, let us know when you've bought in

I might do the same

Quite why he thinks you need size on cryptos is a mystery to me.
Must be some sort of small weener complex thing going on!

 

[new_trader]

Go for it, let us know when you've bought in

I might do the same

Bought?? No, you misunderstand, I was thinking of taking a short position when I think the top is in. I may have already missed it.

 

[brewski1984]

Top has got to be in right?

Posted on the day it hit 20k

 

[wallstreetwarrior87]

Quite why he thinks you need size on cryptos is a mystery to me.
Must be some sort of small weener complex thing going on!

Me neither - quite happy with 50 lovely British pence - all closed (for now). ROI ? Well £6530 meant no worrying about margin needed, leverage dont bother me for these plays, the key is not shiiiting oneself, hence no stop, + 21% will do for Xmas.

Willing to do more if we dive lower again, and fund the account accordingly.

This was done in 2 days, which is not the norm, but then again this market is not the norm, adapt as needed.

BTW it is unlikely that this is the end of a bitcoin run, we only listed on the CME etc last week. The most likely scenario is that holders of "physical coins" were hedging in the futures market. So back to holding physical, and reducing exposure in the futures. Dont make it too complicated.

Merry Xmas all and a prosperous 2018!!

 

[Quantt]

The difference is the participants and that cannot be overlooked. The very early adopters of bitcoin were TRUE Libertarians. I know because I have been following Libertarian economists and their media channels for years, before bitcoin even existed.

I do agree with you, but I am just blown away how a TRUE Libertarian can support a centralized block chain technology...

 

[wotzit]

Me neither - quite happy with 50 lovely British pence - all closed (for now). ROI ? Well £6530 meant no worrying about margin needed, leverage dont bother me for these plays, the key is not shiiiting oneself, hence no stop, + 21% will do for Xmas.

Willing to do more if we dive lower again, and fund the account accordingly.

This was done in 2 days, which is not the norm, but then again this market is not the norm, adapt as needed.

BTW it is unlikely that this is the end of a bitcoin run, we only listed on the CME etc last week. The most likely scenario is that holders of "physical coins" were hedging in the futures market. So back to holding physical, and reducing exposure in the futures. Dont make it too complicated.

Merry Xmas all and a prosperous 2018!!

Who is "we"? I have never come cross a more deluded bunch of people (cult?) than current cr@pcoin holders - oh wait a minute, maybe I have in the DotCom boom, then the telecoms in the early 2000 years....

 

[Brumby]

I am just blown away how a TRUE Libertarian can support a centralized block chain technology...

Let's take the Bitcoin example. The ledger is distributed and so there is no centralised control. The fundamental limiters within the source code to the technology can only be changed via majority consensus and hence there is no central authority. These are designs consistent with Libertarians philosophy of free will and voluntary association.

Whilst Libertarians emphasise maximal political freedom it is not inconsistent with the need to have some functioning central governance. I think the argument that cryptocurrencies can somehow replace fiat currencies begin to fall apart when having to explain away the role of a governing body to maintain stability, law and order in a civil society. A good example is a failed state when central authority is absent.

 

[Quantt]

Let's take the Bitcoin example. The ledger is distributed and so there is no centralised control. The fundamental limiters within the source code to the technology can only be changed via majority consensus and hence there is no central authority. These are designs consistent with Libertarians philosophy of free will and voluntary association.

What you are saying is true, with the difference that it's not one person one vote, but quite the opposite, the rich have much more voting power than the poor, so we are going essentially from democracy to feudalism...

 

[counter_violent]

Me neither - quite happy with 50 lovely British pence - all closed (for now). ROI ? Well £6530 meant no worrying about margin needed, leverage dont bother me for these plays, the key is not shiiiting oneself, hence no stop, + 21% will do for Xmas.

Willing to do more if we dive lower again, and fund the account accordingly.

This was done in 2 days, which is not the norm, but then again this market is not the norm, adapt as needed.

BTW it is unlikely that this is the end of a bitcoin run, we only listed on the CME etc last week. The most likely scenario is that holders of "physical coins" were hedging in the futures market. So back to holding physical, and reducing exposure in the futures. Dont make it too complicated.

Merry Xmas all and a prosperous 2018!!

Lovely example of scalping the volatility. Nice trade.

Most aspiring traders fear volatility as they only ever associate it with the risk side of the equation. They would rather die the death of a thousand cuts than face the demon head on and they kid themselves that they are learning something useful from this slow death approach.

To add to your comments re the futures going live. I don't think smart money was ever going to pay top dollar in BTC just to get a slice of the action, therefore loading the short boat, forcing the price down in order to get better value plus it now gives them price chart reference points (levels) to work with.

What better time to shake out weak hands before the massive run up in 2018 where more and more smart money will get involved!

M xmas.

 

[tar]

Denial stage ...

 

[wotzit]

Lovely example of scalping the volatility. Nice trade.

Most aspiring traders fear volatility as they only ever associate it with the risk side of the equation. They would rather die the death of a thousand cuts than face the demon head on and they kid themselves that they are learning something useful from this slow death approach.

To add to your comments re the futures going live. I don't think smart money was ever going to pay top dollar in BTC just to get a slice of the action, therefore loading the short boat, forcing the price down in order to get better value plus it now gives them price chart reference points (levels) to work with.

What better time to shake out weak hands before the massive run up in 2018 where more and more smart money will get involved!

M xmas.

The statement in bold I have a problem with "Lovely example of scalping the volatility. Nice trade" Apparently you're supposed to be a experienced trader (again I use the word loosely here) and are championing the fact the gambler you were replying to did not use a stop loss in the most volatile market we presently have. Badly done.

 

[wallstreetwarrior87]

Denial stage ...

Too early, but agree will come eventually

 

[wallstreetwarrior87]

Who is "we"? I have never come cross a more deluded bunch of people (cult?) than current cr@pcoin holders - oh wait a minute, maybe I have in the DotCom boom, then the telecoms in the early 2000 years....

Dotcom scenario soon but not yet, let's see the next few months.