Bitcoin is about to go parabolic...
By - SnooPandas3813
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Eh, if it was this easy, the whole world would have gotten rich off of doge. Crypto is like stonks, some apes gain, some lose.
True, doge was a great day trader for quite a while. Just as BIT was a great buy below 30k this year.
Shiba inu is the latest doge
Darpa picks the winners and losers, even in crypto.
Like 1% of these cryptocurrency moonbois actually understand it. Be careful who you listen to
Let’s get you back to bed buddy
Have you ever seen a molly wop beating mismatch in boxing ?
A slaughter , a massacre ?
The us dollar v bitcoin's is like Peter McNeely v Mike Tyson...
Wouldn't "parabolic" mean that you are predicting it's going to fall back to less than a dollar?
Bitcoin is entirely speculative. It is a bubble. And I know that a lot of you conspiracy folks really love cryptocurrencies, but I believe that their value is highly overstated and almost all of them more closely resemble Ponzi schemes than actual currencies.
Edit: but if long-term liquidity does not matter to you, by all means, continue trading!!
No that's not what he's saying, but I get your point. It's kind of slang terminology though and not really used like a mathematical definition of a parabola. People use this all the time in trading of multiple assets to try and describe an exponential increase that is unsustainable at the rate in which it's climbing.
Yes, it does fall, but if you look at bitcoins charts since creation it only correct back down a portion of each of it's "parabolic moves".
Bitcoin is speculative over an investment, but that doesn't mean a 1 to 3% allocation couldn't turn out to be money well spent. Definitely would only invest money you're willing to lose, but it does have potential for massive gaines. It's been called a bubble for the last decade yet the bubble hasn't popped. Maybe it will maybe it won't, but if you're disciplined and responsible and pay attention you can make money in a bubble.
You can also get wrecked but I haven't, and when you pull out all your original investment you got nothing to lose from there on out. Only time will tell where this goes, too early to say as there's been nothing quite like this phenomenon.
Most social constructs and systems are somewhat of a Ponzi scheme. Capitalism? United States dollar? Human rights? These are all just intersubjective concepts that we agree is truth, and since we believe that it is truth it becomes truth, real and functional. The moment we stop believing in any of these things these all crumble. This could be one but that doesn't mean that it will be any less real or successful than the hundreds of other real world Ponzi schemes.
This is a thoughtful response and I appreciate it.
I would disagree that most social constructs and investments are like Ponzi schemes because of the relative lack of risk. The difference with cryptocurrency is 1) high volatility, 2) no Federal backing, and 3) very few safeguards for a collapse in liquidity. Now this will differ for different cryptocurrency, so not all are the same. Some are MUCH worse than others in that respect.
My only other issue with cryptocurrency is: what is it’s market? It is an untraceable block-chain trading device. From what I can see, the market is mainly the black market and speculative buyers driving up the price. Many of these buyers, particularly from what I’ve seen here on Reddit and Facebook, are buying based solely on trend analysis - which, in any investments class you take, will tell you that this is also a risky strategy.
But you are correct, you CAN make a shitload of money off of it. Super high risk = super high reward. And diversifying with other less risky investments would help in lowering the overall risk in your portfolio.
I'm about to triple my investment
Only if you cash out now. Otherwise, those are just unrealized gains.
Bitcoin is crazy like that. It's a wild ride.
The dollar will collapse, but any type of crypto replacement plays right into their hands.
What if..crypto is the new marked dollars where the only people tracking the marked dollars are immune to these tracking themselves?
I am surprised it hasn't hit 100K yet. With all the uncertainty in the world, and obvious signs of an economic crisis coming, it seems very prudent to shelter funds outside of USD or other currencies right now.
Ah yes, it's like adding millions of people to this world every time another crypto comes around.
Bitcoin alone consumes more electricity than the fucking uk.
Welcome to the world of tomorrow where countries are going to go black to mine another bitcoin.