TheBigShort
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The problem with the detractors of bitcoin in these discussions as I see it, is the continous use of misinformation, misrepresentation of other posters comments to try fudge the topic being discussed.
....economists are generally as clueless about the future as anyone else
How dare you! The bloody cheek of you insulting my noble profession!
Did the credit card company refund you as a matter of interest?
The problem with the detractors of bitcoin in these discussions as I see it, is the continous use of misinformation, misrepresentation of other posters comments to try fudge the topic being discussed.
We are telling you now during the bubble that this is a bubble. That is useful. You should listen.
No one has yet shown why Bitcoin has any value whatsoever.
The purpose is to help those of you who own Bitcoin to realise how foolish it is and to help you to retain your profits.
It is also to stop people losing money through participating in the Bitcoin mania
The point is that Bitcoin has no value. Nothing you or anyone else has said has suggested why it might have a value.
I'd be very interested to understand when BTC attained bubble price levels.
This is wholly disingenuous. You have a vested interest in trying to persuade people to sell.
You write this so often, makes me wonder, who is it you are really trying to convince.Bitcoin is worth nothing.
Bitcoin is worth nothing.
What would you do if someone gave you 1,000 Bitcoin? I'm guessing you'd sell them pretty quickly.
It is also to stop people losing money through participating in the Bitcoin mania.
As someone who has spreadbet on Betcoin to fall, I dot want it to fall to zero ASAP
Of course I would sell them immediately.
Not only that, but perhaps with a little bit more than hindsight at play, you amazingly sensed that $20,000 would be the peak of its run and you considered cashing out "as it fell to $6,000", which transpired to be the bottom of its bear-run.
Not true! You've just proved it's worth $7,000 to that person. If you have a whole collection of people who think the same (i.e. an open trading market, as in that for Bitcoin) and the market price is $7,000, then it's worth $7,000 by definition. If you want to believe it's worth nothing, that's fine - it's just your opinion. The facts speak differently. It's exactly like if you want to believe the earth is flat, then that's fine - it's what you believe, but the provable fact is that it's not.Of course I would sell them immediately. They are worth nothing. But the price is $7,700. I have yesterday's Irish Times here. It's worth nothing. But if someone wants to give me $7,700 for it, then I will sell it to them.
So let me repeat, in case you missed the bit in bold above. I can't predict the short term movements of Bitcoin.
2) A small bet on Betfair in January at about 15/1 if I recall correctly for it to fall below $5,000 by end of January. Bet lost.
Let me repeat in case you miss the key point: I can't predict the short term movements of Bitcoin or any other irrationally priced item.
I would have said this is amazing foresight, had it not been for the fact that you have shared this in hindsight.
Do you have a sense of what price you might cash out at now? Are you considering any other price level at this point?
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