The problem with greater fool investing is that it depends on constant hype about past price growth. Once you have a 60% downward drop, that hype is gone and the losses accumulate rapidly.
Except for the few early adopters driven by political ideology, nobody who bought into actually cares about anything excepting getting back MORE REAL MONEY when they sell it to a greater fool.
Just a month ago nobody cared about what utility any of this shit has, or why anybody would ever want to use crypto over all the other transactional methods that have been around and worked forever.
People will dump hard and move onto the next greater fool hypetrain.
In the next few months we have promises of increased regulations and tether collapse to look forward to. Don't delude yourself with the notion that you're gonna hold and it will eventually go back up. There is no reason for it to go back up, as the underlying asset has no actual real life use.
Get out now if you're still over your initial investment.
This shit is going right back to $1K where we started off last year.
oh no it's all over forever this is the end i'm so so sure
Alexander Robinson
I wanted free money though >:(
Caleb Miller
Bumping because I had a good time shattering the dreams of coiners on this subject last night
Kevin Reyes
>This shit is going right back to $1K where we started off last year. >$1k
William Nguyen
This x100
There is a reason why the whales keep implying this is awesome and a good time to buy; they're literal vampires that just sucked your blood and want more. They are the ones that will take the biggest hit when their thousands of BTC ain't worth shit now
Lincoln Murphy
Please counter ops argument with reason.
Christopher Gutierrez
not 100% probably 95%. there are some coins out there that have real intrinsic value outside speculation. OMG comes to mind. having trouble thinking of any others...
Jonathan Mitchell
>billions of dollars sitting on the sidelines waiting for sub 4k to jump back in OH FUCK YOU'RE RIGHT OP FUCK THESE BAGS WHY DID I FALL FOR THIS PONZI IM GOING TO BEG MY BOSS FOR MY JOB BACK RIGHT THIS INSTANT
Josiah Torres
So basically invest in chainlink?
Isaac Scott
We'll see.
Aaron Hill
I agree 100%
Anyone who tells you to hold does not give a shit about you. They just want to get out before you do.
Tyler Allen
the blockchain isn't done with us yet, and at least for the forseeable future coins as we know them is still a part of the technology.
blockchains are going to be everywhere. what form that takes exactly and whether you can smartly invest into that remains to be seen. but i'd wager that most of the coming blockchain innovations of the next couple years will be in coin form. so we're not done yet
Lucas Powell
I'm the only one in this thread whose ID starts with a symbol. Listen to me.
OP is right.
Jeremiah Cook
unironically chainlink or something like it will be one of the few survivors of this massacre
Brandon Rivera
>cryptocurrenices will survive
Ryan Reyes
>Crypto is 100% pure greater fool investing. My theory is that crypto has innate value as a gambling/casino medium. You run an exchange that essentially operates as a casino to take (much) more fiat in, than fiat exists. Cryptocoins are the casino chips used to play. The casino games where you are rinsed of your chips are margin lending; where the exchange introduces volatility to liquidate your positions, trading against the exchanges own wash trading bots, and the tether pump and dump scam, amongst others.
As soon as more fiat tries to exit the casino exchanges than enter it, this casino value of crypto collapses, and it returns to it's value as a medium of exchange (which might be sub>$50).
Brayden Brown
Oh they will absolutely. Look at how much money some people made, there is now way that nobody will try to replicate
Jayden Sanders
But you can buy drugs and stuff. Thats real life use right?
Jack Gonzalez
What's wrong with that? Are greater fools running out?
>Crypto is 100% pure greater fool investing. Thats where you're wrong kiddo, BITCOIN is greater fool investing, there are crypto projects streamlining processes and actually doing shit with blockchain tech.
Lincoln Nguyen
that guy only FUDs and comments on male body building pics, amazing
You just posted that 23 minutes ago faggot, the post here is from 48 minutes ago.
Julian Young
Yes I am.
Blake Myers
>please engage my pilpul until you’re emotionally manipulated to do as I wish goyim
Autism happened for a reason, you know.
Anthony Gray
name them
Christian Lewis
>blockchain tech
LOL someone didn't bother to look into the tech
Luke Collins
Pretty much. I find It's hard to predict how many fools are left and how much money they have, so it's hard to gauge when the crash happens.
Jordan Perez
>YOU JUST DON'T UNDERSTAND THE TECHNOLOGY! HURR DURR!
Adrian Baker
Ya, classic symptom of a bubble. A "new" tech or idea that you can't understand unless you drink the kool aid
Ayden Torres
> greater fool investing pyramid scheme
Parker Rogers
>nobody who bought into actually cares about anything excepting getting back MORE REAL MONEY when they sell it to a greater fool this was true for me until DBC launched
I want ultimate AI to be born and I'm fully transitioning to a career in that field over the next few months, all because of crypto
Hunter Brooks
Don't worry, *someone* got free money.
Kayden Jackson
DBC is a scam
Matthew Morris
Still not selling :^)
Aaron Howard
You're not wrong, but all it means is that it will take time after the crash for the hype to come back. Could be a couple years like after the 2013 crash, or could be sooner. There's a chance the hype never comes back but I don't think it's likely. But yeah. it is quite possible there will not be enough new buyers to get us back to 20K bitcoin.
