WTF is now wrong, all cryptos down?

[void]

money for your groceries and other operative expenses for the next months should be held in your local currency (or USD if you live in Argentina or so) - the rest should be in BTC

 

[JohnnyDoe]

money for your groceries and other operative expenses for the next month week should be held in your local currency (or USD if you live in Argentina or so) - the rest should be in BTC

That seems wiser.
A month is an eternity.

 

[brianK]

I think what I’m about to write sounds a bit utopian. But imagine the uproar if crypto, especially Bitcoin, crashes in the coming years. I believe all your credibility would vanish in an instant, and the disaster would likely be even greater than the dot-com bubble bursting in the early 2000s.

 

[JohnnyDoe]

I think what I’m about to write sounds a bit utopian. But imagine the uproar if crypto, especially Bitcoin, crashes in the coming years. I believe all your credibility would vanish in an instant, and the disaster would likely be even greater than the dot-com bubble bursting in the early 2000s.

My credibility is not a concern, I’m not a politician (is there any politician really concerned about credibility though?).
The real concern is the inevitability of fiat currency tending to zero purchase power, as mathematically and historically proven.

Some basic math on fiat decay:

History:

 

[brianK]

I’m a huge fan of BTC, but something that comes out of the blue, falls to the ground, and then rises to the sky again typically disappears into oblivion just as quickly as it came from the heavens. That said, my brain doesn’t even believe what I’m writing here, but my gut is telling me otherwise.

 

[JohnnyDoe]

I’m a huge fan of BTC,

Btc is not a rockstar, it doesn’t need fans.

but something that comes out of the blue,

That was 15 years ago

falls to the ground, and then rises to the sky again

Use a log scale when you chart something.

typically disappears into oblivion just as quickly as it came from the heavens.

We can make plenty of contrary examples.

That said, my brain doesn’t even believe what I’m writing here, but my gut is telling me otherwise.

Math doesn’t reside in the guts.

If something better than btc pops up in the future I will be happy to embrace it. In any case, everything is better than fiat currency.

 

[rss]

Because I still need FIAT to buy my groceries at the supermarket, and there’s always the risk of buying at 97K today only for it to drop to 80K tomorrow. That makes it pretty hard to buy Christmas presents and food with a 17K loss

I’ve been living off crypto for the last decade, now it’s easier and cheaper than ever before.

 

[elcontestador]

I’m a huge fan of BTC, but something that comes out of the blue, falls to the ground, and then rises to the sky again typically disappears into oblivion just as quickly as it came from the heavens. That said, my brain doesn’t even believe what I’m writing here, but my gut is telling me otherwise.

That's why you buy after the crash, like in 2022. Was much easier psychologically to buy back then, the floor was obvious. When no one wants BTC is when it's best to buy

 

[elcontestador]

If something better than btc pops up in the future I will be happy to embrace it. In any case, everything is better than fiat currency.

Monero?

 

[JohnnyDoe]

Monero?

I’m not saying it’s better, but it’s good and has its uses.

 

[EliasIT]

I would like it very much if some of the gurus in crypto around here would show their knowledge and post here the same time when they predict the marked has reached it's climax and it is time to sell

 

[W Fish]

Sell what?
BTC - never. Everything else - now.

Not that I am a guru.

 

[rss]

I would like it very much if some of the gurus in crypto around here would show their knowledge and post here the same time when they predict the marked has reached it's climax and it is time to sell

You can't time the top perfectly and even if you can, you won't be able to offload any big amount.
Your best bet is to always sell on the way up but most importantly... BUY ON THE WAY DOWN!

If you don't think you can control your emotions during a -30% day for btc and click the buy button while everyone panics, you are better off buying and HODLing.

Realistically, most people who have been in crypto long enough, know that there is a very high chance that in 1 year time, the price will be lower than what it is now.
Do you have the balls to sell everything now and potentially miss out on 80 to 100% more gains?
Can you make sure you have that money ready to buy when the price trades much lower in the future?

These are all things you have to keep in consideration if you want to play the trading game.
Me personally, I suggest everyone I know to just buy and hodl. Am I suggesting people to buy at these prices? No.

 

[void]

I would like it very much if some of the gurus in crypto around here would show their knowledge and post here the same time when they predict the marked has rseached it's climax and it is time to sell

the only more valuable asset in the world is time

now it's hopefully clear to (almost) everyone that every single person and corporation will need to (somehow) own bitcoin in the future - trading BTC (i.e. speculating on future drop and hoping for re-buy at lower price) was always a bad idea (proven that expected value of just HODLing is much higher) and now more then ever as you can easily find yourself with empty hands and in a very unpleasant position seeing the train leaving

look at all the demand (ETFs, public/private companies, nation states, family offices, all the public institutions, retail didn't even wake up yet and it will) - current holders are more and more solid (incomparable to previous two cycles) and the supply is tiny - what would make you think it should ever go down?

 

[rss]

Buy and hodl. You will outperform most people.

 

[JohnnyDoe]

I would like it very much if some of the gurus in crypto around here would show their knowledge and post here the same time when they predict the marked has reached it's climax and it is time to sell

You must not sell BTC unless you need to buy something with and worth it.
It’s simple math. Ready my post above
Post in thread 'WTF is now wrong, all cryptos down?'
https://www.offshorecorptalk.com/threads/wtf-is-now-wrong-all-cryptos-down.46564/post-330407
Bitcoin's ascent is not merely speculative but mathematically inevitable given current monetary policies.
Remember: Bitcoin’s exchange rate in USD tends to infinity over time.

 

[kislokan]

The dips are buying opportunities

 

[brianK]

Btc is not a rockstar, it doesn’t need fans.

That was 15 years ago

Use a log scale when you chart something.

We can make plenty of contrary examples.

Math doesn’t reside in the guts.

If something better than btc pops up in the future I will be happy to embrace it. In any case, everything is better than fiat currency.

I hope you're right my friend. I can imagine if for any reason some of the big investors / whales dump BTC it will go don't the drain to the toilet and you will have the same as the financial crisis in 2008 or the one in the beginning of 2000! Isolated to bitcoin & crypto.

 

[JohnnyDoe]

I hope you're right my friend. I can imagine if for any reason some of the big investors / whales dump BTC it will go don't the drain to the toilet and you will have the same as the financial crisis in 2008 or the one in the beginning of 2000! Isolated to bitcoin & crypto.

That would be a fantastic buy opportunity. See what happened on the stock market after the crisis you mentioned. Imagine buying amz at post 2000 crash price!

 

[kislokan]

I hope you're right my friend. I can imagine if for any reason some of the big investors / whales dump BTC it will go don't the drain to the toilet and you will have the same as the financial crisis in 2008 or the one in the beginning of 2000! Isolated to bitcoin & crypto.

Its unlikely especially if trump creates a btc strategic reserve.