Quote:
Originally Posted by Roof-Daddy
No thanks, I'm going to bow out. It's just not worth it. No amount of reason or evidence will change your opinion on BTC, and honestly I just came to the realization that I don't care whether or not it does.
Bitcoin will continue on like it always has no matter what you believe, and many people will continue to invest in it and make money whether you join in or not.
I have never owned any bitcoin, and I'm pretty sure I'm not going to be buying any bitcoin either. I own other crypto and believe that while bitcoin isn't going anywhere and will appreciate during this next cycle and over the long haul, I have put my money in crypto that I hope and believe will perform even better.
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No one is actually investing in BTC. It’s a modified Ponzi scheme that they’re going in aware that the only way they get more out than they put in is if others put money in too in large enough numbers over a short enough period of time.
Without more buys than sells, the price of BTC would stagnate and confidence would erode causing people to begin to take their profit or loss, while others get caught with their pants down.
Because there’s no actual supporting value, once whale holders have made a profit target they can move the market significantly downward causing all the minnows to panic sell. Why are they panic selling if it has some sort of intrinsic value? Because there is no intrinsic value. They are forever on edge of the volatility.
The volatility will never cease because those with large positions use the fact that Bitcoin has no value to their advantage. Oscillating taking gains both ways, picking off the weak positions making poor bets.