there I was happily coding on my hobby project racing game when one of my friends mentioned sick buying of some thing. it was bitcoin and it had just passed $1 and went straight to $2 he was watching $8k buys at the time and it was pretty crazy in his eyes so I "research" and about a week later I send 5% of my savings to mtgox. bitcoin had just hit $8 when I made the transaction >o god I hope I'm in time I'm missing out a week later my money arrives and bitcoin is at $29 >all in
this is where many of you are. you probably think it will shoot straight to $100,000 and beyond you feel like you got in just in time
this post will not convince you but I want you to read it and think of it when reality has settled in. you might have the advantage of having seen an actual bubble before but I had not. bitcoin crashed hard after $32 it went straight to $15 and it didn't stop until it hit $2. I remember considering sending over more money, but didn't. it was going to make it or not. I'm not putting more money in that shit. Bitcoin was, in sentiment, dead. continued
many of you bought in at peak delusion like I did back then in 2011
you need to know this is a cycle which is tied to the halvening every 4 years the supply of bitcoin halves, creating a shortage of supply and driving up the price like last time this resulted in a massive speculative bubble this is all the economics you need to know it has more to do with psychology than economics you don't really understand what that means yet, but you will just like you don't understand what delusion means in that classic bubble graph even when you are undergoing it right now
a few days ago you saw the hype collide with bitcoin's infrastructure the exchanges and tickers started to buckle under load this is nothing compared to what is coming if you think this mania will slowly settle down you are mistaken yes, last time it was only ONE exchange, mtgox. that exchange had been battered by hype and DDOS dozens of times before now there are dozens of exchanges but a few days ago it was proven that they aren't up to the task and to me this confirmed that history WILL repeat itself we just saw price fluctuates of 10% in an hour and trades per minute spike over 6000 people are nervous and on edge meaning it will not take much >china bans bitcoin >ny times article tomorrow >exchange gets hacked >tether implodes >vitalik has a paper cut
if you've read this and think I'm wrong because "this time is really different" >the masses are moving in you will feel pretty depressed in 2018 bitcoin will be the worst performing currency in the world again for a year just hodl and you will be fine in 2021 and up 4x what you have today this is what I have done during the last 3 speculative bubbles
this time however I'm not prepared to lose 90% of my portfolio and will watch the show from the sidelines I will be there soon buying the dip for pennies on the dollar I won't feel guilty taking your retirement because if I don't, someone else will do it
this also applies to the stock market btw
Dominic Walker
good advice
Easton Rivera
You’re one of the few people that actually knows their shit around here. Thanks for the advice and good luck to you user, we’re all going to make it.
Jace White
it will be ignored, they just want to give us more money for now vegeta and 10k memes are over
right now 99% of this board feels like completely deluded newfags it's all fun and games and I was looking forward to the pink wojacks but in all honesty it's just sad
Hudson Rogers
any exchanges that are probably safe? I'm thinking Kraken will be ok, but I have my doubts. All of my assets are on hardware.
Josiah Young
What about alts, senpai? I presume it will be crypto winter all over again?
Luke Green
in 2013 I got stressed out trying to catch the top and from lack of sleep and mtgox uncertainty I moved my coins to an offline wallet I got extremely lucky because I would've lost it all if I hadn't, but also could not sell and had no other $ accounts anywhere right now I'm gambling everything on bitstamp holding
Levi Anderson
/out/ is the only good board
Thomas Hughes
Thanks based user, just unironically sodl everything
Nathaniel Sanchez
Looks like someone sold everything at sub 10k and is trying to justify it for himself. I have gone through all the bubbles from 1$ onwards and none of those are comparable to this one, not in price, not in volume, not in time, not in market cap. This one is way different from the past ones. Current somewhat stable race has been going on for more than half a year. Past bubbles happened in less than a month. You are a silly man. Delusion indeed. Currently people like you are selling and more and more people are buying, once people like you are all gone, the price will soar. That is when the heat is really on. This is just the beginning.
t. 2011
Owen Sanchez
...
Luke Rogers
>it's litterally different this time no offense just hodl friend it will be fine
and those that have alts, don't fucking sell them after they go down 90% like I did last time. on the contrary buy all the shitcoin when it all seems dead.
they will be back with a vengeance in 2021
Hudson Torres
>this time it's different!
oh god you're going to regret saying this in a year or two.
Mason Morris
Ha it's so well written it make some nervous. Not sure how the old ones compare to now since nowadays the industry has the fingers in crypto (iota, eth,..) but I guess a crash in btc would also drop them considerably. Tough call with the Christmas hype ppl incoming. Go out and be save, but loose out on "dem Christmas gains" or be safe..
Gavin Hall
What's your opinion on """flippenings"""" ?
Cameron Ortiz
I just cashed out all my forked coins (funny how my id matches pic related) Have cashed out bcash a long time ago there will be no flippenings, the dumb masses only know "bitcoin" and are not involved with any of that shit. first mover and name is everything. like I said there is no economics, it's all psychology now. you'll see economics again in 2018 tho
I am not a good writer, or lier or larper I can only tell my experience as it is
Dominic Rodriguez
>they will be back with a vengeance in 2021 >2021
nigga, you expect me to wait THAT long?? why would a dead alt suddenly revive after four years anyway?
Brandon Taylor
exactly ask that to my 4 year old verts and blackcoin pic related is dust I have left over after selling 90% of my alts months ago (way too soon, I'm learning too) totally not a speculative bubble going on right now I'm not up to compiling these wallets manually for the moment. the dust is in local wallets. maybe tomorrow
Carter Myers
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Robert Murphy
>not a good writer, or lier >lier You've done well.
Angel Morris
you do realise that's a shit portfolio I have left over from 4 years ago I'm not even bothering cashing in?
Aaron Myers
what site are you using for this?
Benjamin Morales
smart man but you are in a minority here to many deluded "new paradigm" type beyond the point of no return
