RE: Patience Grasshoppers: The Naysayers Do Not Understand
I'm actually getting to the point where I think the ocean of red ink on the crypto markets today might mark that final phase of market cycles: "Capitulation," that point where the last of the speculators throw in the towel, thinking everything is just hopeless and will never come back. Bitcoin had a nice little runup... and now has given it all back, and change. 99 of the top 100 coins are down today; many double digits.
I'm hoping the last of the speculators and gamblers (within reason) will finally be flushed out, and that long term "value players" will start bargain hunting for the viable alt coins out there. Perhaps a consolidation and clearing out? As Warren Buffett once said "When the tide goes out, you discover who's been swimming naked."
"They" also used to say that the Internet would never appeal to anyone but a handful of nerds and academic institutions...
The Internet was nothing more than porn, hookers, and drug pushers.
Oops, turns out it was a bit more than that.
I completely agree... I actually kind of wish that the day traders and gamblers had never found crypto and run up the prices so high... crypto should be spent, should be used in transactions, not stored and kept like gold. It's value is in it's use.
Crypto can be used however someone want. You are wrong if you think there are rules for it
Let me rephrase then.... I would prefer if everyone saw crypto as a currency to be spent and transacted instead of a store of value to be day traded and gambled on.
I agree 100%. That is why half of my crypto is inflationary and the other deflationary. If I get ulcers worrying that when i spend some on needs and it goes way up afterwards then I lost out, it is best I not have any.