Why most crypto investors are idiots

Skullbone
Skullbone

I've been an investor since 2013 but I had the experience of being a trader since 1990. I knew that this is a speculative bubble at best given how nothing useful has truly been created in this space, and the price rise would simply be based on hype. After seeing the hype peak in terms of knowledge (doesn't matter if all money has been invested in yet, it's about knowledge), I knew this would eventually go down. I told my friends (who are mostly all luckily in the 7 figure range) to start selling off. Guess what they do instead? HODL like a fucking bunch of dimwits and lose about 60-75% of their fiat value back into the 6 digits. I can't even imagine how worse it must be for someone with lower portfolio values. It's easy to pick anything that can exponentially grow at the early stages of a hype-based market. However, when you see adoption not increasing, and the hype saturating, the ONLY way for it to go is down. Anyone who held on in the last few months and is continuing to hold is a literal fucking idiot. Stop "hodling" and start being "craeful" as John Oliver said yesterday.

This is the same kind of craze I saw for www stocks back then, except in this case, this market has literally produced nothing of actual value and use (www market had tons of useful products even at an early stage), and should be treated as such since it fundamentally can't produce anything useful since no-one would use a crypto as a form of payment OR a store of value if the price continues to fluctuate.

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Nude_Bikergirl
Nude_Bikergirl

Money which cuts out the middleman is worthless sell now!

Sharpcharm
Sharpcharm

bad larp, someone with experience investing would never call crypto speculation "investing", only people who don't know anything about finances do that

FastChef
FastChef

but I had the experience of being a trader since 1990

le trash
If you're out of the game you're a brainlet. Today is the easiest time to make money, both in stocks and crypto

whereismyname
whereismyname

Biggest joke in the fucking world. First, where do you buy your cryptos? Second, and more importantly, why would you spend it if you expect the value to go up or down wildly (which will always be true in a free, unregulated market by the way)? If there's no reason for you to spend, it doesn't matter if there's no middleman idiot. That's the trade off.

Soft_member
Soft_member

I already mentioned I've been invested in crypto since 2013 and have been trading stocks since 1990. I'm not out of the game idiot.

cum2soon
cum2soon

thinks crypto resumes to forms of payment or stores of value

and your calling other idiots... go back to r/iamsosmart already feggit

Burnblaze
Burnblaze

LOL, what else do you think it should be used for? digital securities? securities already exist dimwit. The point is it's not improving anything in the world.

It's a 300 billion dollar cap market with nothing of actual value, improvement, or significance produced.

Illusionz
Illusionz

you're either larping or a fucking dumbass

nothing of actual value, improvement, or significance

stop projecting your pathetic existence into crypto and DYOR you douche

Garbage Can Lid
Garbage Can Lid

You sound butthurt. Next time, when you come up with an actual argument to respond to my points instead of resorting to insults, let me know.

King_Martha
King_Martha

Lmao now I know it's a larp. Marketcap is literally meaningless.

iluvmen
iluvmen

no-one would use a crypto as a form of payment OR a store of value
probably true
pretty narrow minded view of blockchain though.

lostmypassword
lostmypassword

supply chains and IOT, now fuck off already and go do some research instead of wasting everyone's time here with your shit tier larps

Gigastrength
Gigastrength

I used bitcoin to buy a Veeky Forums pass.

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Deadlyinx
Deadlyinx

investor
stopped reading

Methnerd
Methnerd

And did I claim it's anything but that? I never said it equates to actual money.

Emberfire
Emberfire

Except I didn't criticize blockchain. I criticized crypto. Blockchain is also not as useful as people think, but that's another topic that is atleast worth debating.

BlogWobbles
BlogWobbles

you only lose if you sell so hodl is fine

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LuckyDusty
LuckyDusty

You need to read about smart contracts and in the meantime stop pretending that you know anything. You're embarrassing yourself.

New_Cliche
New_Cliche

Hope you're being sarcastic.

Nojokur
Nojokur

he is old man tho, its typical for old people to react like this.

viagrandad
viagrandad

I know what smart contracts are. I've been in this space for five years. You can eventually have a smart contract using some representation of digital fiat that already exists, a concept tied to blockchain, not a specific crypto. There is no value in crypto which is what the original post stated.

Inmate
Inmate

no I'm serious, all that matters is how much ETH you got, what its currently worth in dollar is unimportant

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lostmypassword
lostmypassword

Blockchain is hyped up for a million things where it's not necessary, but it's legitimately cool technology. Whether or not the tokens will have any significant value, time will tell. But it's going to be around in some fashion as long as the internet exists. The hype bubble burst in Dec/Jan, crypto might go down or stagnate for a long time, but I think it's still worth watching for promising projects and buying back in eventually.

Methshot
Methshot

Yeah Crypto is over saturated, can only go down from here, buy pets.com, they have a real product. Or buy GE, or GM stock. fuck offf

PackManBrainlure
PackManBrainlure

you sound low iq. Crypto isn't an invention like the microwave or airplane, it's literally money that is way more convenient and fuckin trustless. OF course its gonna only increase in price from here.

TechHater
TechHater

Again, you're conflating blockchain with crypto. Blockchain MAY or MAY NOT be useful. Time will tell. Crypto, however, seems fundamentally useless given what I mentioned: due to the fluctuation in price (which will always exist in a free, unregulated market), no-one would use it as a form of payment or digital store of value. Now, since people want to hold their tokens only for the sake of value appreciation and not for anything useful in terms of improving the world, they are trying to find utility in something that fundamentally does not. In fact, I'm certain that most of you already know this but don't want to emotionally admit to it, and thus did not sell off most of their portfolio earlier.

FastChef
FastChef

You're so kind to come tell us this user. Such altruism!

girlDog
girlDog

Eventually
Weird, because we have them now

viagrandad
viagrandad

Refer to the original point I made. No-one will use it as a form of payment given the price fluctuation (which will always exist in a free, unregulated market). So no, it's not convenient. I haven't even begun to talk about the scalability issues. Nothing has been proven scalable so far in terms of a global use.

takes2long
takes2long

The replies in this thread should make everyone bearish.

likme
likme

I'm not conflating it, I'm specifically talking about blockchain because that's the post I replied to. I'm agreeing with you, the usefulness is still being researched.

As far as currency, private coins like Monero have a worthy purpose.

Poker_Star
Poker_Star

In the early stages, yes. This proves my point even further? So thanks.

Firespawn
Firespawn

Exactly. It's literally a bunch of know-it-alls who haven't given any sort of response to my points and keep repeating stuff they probably heard from the biggest echo chamber in the world: the cryptocurrency subreddit.

TalkBomber
TalkBomber

thinks crypto will stay unregulated forever, despite G20 meeting in March after Pr Macron and Chancellor Merkel's call for regulation talks on crypto, and the previous SEC hearings on crypto regulation

Alright I'm out of this thread, if anyone decides to sell after listening to this guy spouting his nonsense, you've deserved it.

Stupidasole
Stupidasole

I can maybe see special cases serving a purpose in terms of illicit/drug payments/international payments maybe, but nothing on a global commercial scale for the reasons discussed above, making even the current value severely overvalued.

Fried_Sushi
Fried_Sushi

That's fair

hairygrape
hairygrape

You obviously know nothing about smart contracts. Sucks man.

TreeEater
TreeEater

The price would still be completely speculative resulting in similar volatility regardless since it's not connected to any sort of companies that are providing value, so the problems I mentioned would remain. If they are used as digital securities, securities already exist, so again they're not providing any added value to the world. That's my fundamental point.

Carnalpleasure
Carnalpleasure

Where do I sign up to be a pro FUDster? Did they just repurpose ShareBlue when a new threat was realized?

RumChicken
RumChicken

See

Inmate
Inmate

alright because nano litecoin and these other "payment coins" no clue obviously 0 or worth more than they are today but I believe smart contracts are the future not these payment coins people are so hung up on.

StonedTime
StonedTime

we only need 1 or 2 PoW coins probably Monero and Bitcoin everything else who cares. Smart contracts are the future.

Garbage Can Lid
Garbage Can Lid

Yes go- I mean bro. Cryptocurrencies are worthless. You should only invest in OUR financial institutions and get a 9-5 like everyone else. Don't forget to take out loans to buy a house and car go- I mean bros hehehe...

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5mileys
5mileys

I like this magic eyes merchant. Saved

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