re: Here to celebrate BTC and MSTX w/ you all!

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Very well, then hows about you just stick to the AI threads and don't even worry about bitcoin threads. You aren't invested or interested so there is zero harm to you by just ignoring us

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Disagree

Someone needs to temper the enthusiasm for bitcoin. There’s people around here looking for the easy quick road to riches and it’s simply irresponsible to not provide some cautionary advice

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This one of my Schwab account that I have been allocating into Ibit since the ETF launch. My crypto wallets are on the moon. I applaud you for doing your due diligence and trying to be a contrarian but at some point you need to shite or gtfo of the crypto threads bc you’re spouting the same things repeatedly.

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I don’t need to do anything except what I’m doing.
As I’ve posted before, I have owned bitcoin and profited- just like you. It was a trade based on fomo- just like you.

I’m not contrarian to fomo trading. It happens. we’re all human. But to act like the price is going up because of some intrinsic value on bitcoin is a stretch.

I don’t use it in daily life and suspect you don’t either.
Maybe there’ll come a day when it’s more widely accepted as a currency but there will have to be some settling down in these price movements.
No one wants to sell something to someone and have to suffer a loss on the sale become the currency dropped 5% or even 10% in a few hours. That’d be terrible business.

Until then, it’s by and large a fomo trade. People need to be VERY careful trading it.

I was going to let it be but you had to come back lol

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Just to be clear- there are other means of investment than trading bitcoin

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Most definitely; however, you're the one lurking every crypto thread projecting your own fomo insecurities.

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I don’t need to do anything except what I’m doing.

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There's nothing wrong with that but you're assuming everything is fomo

Not fomo when the ones here with conviction are buying during the bear cycle (I actually also look forward to it to short or accumulate more).

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As I’ve posted before, I have owned bitcoin and profited- just like you.

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Buying at 55k and panic selling at 60k doesn't really count

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I’m not contrarian to fomo trading. It happens. we’re all human. But to act like the price is going up because of some intrinsic value on bitcoin is a stretch.

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Your assumptions and hang up on intrinsic value, currency, store of value etc.. is keeping you from taking advantage of one of the biggest money opportunity of our lifetime.


We obviously have different perspective on Bitcoin/crypto and that's fine. I'm looking to make more generational wealth and you're trying to be some broken record evangelist on a money board. Yes, no one will argue that crypto is volatile like hell and one needs to be careful. You can either embrace it or run from it and obviously you're the latter.

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Until then, it’s by and large a fomo trade. People need to be VERY careful trading it.

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Everything is a fomo (or lackthereof) trade. That's what the speculation element of investing is. Assets with more upside just tilt further on the upswings and downswings.

Posted on the OT but also worthy for this thread

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There's nothing wrong with that but you're assuming everything is fomo

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Not everything but a lot of those buying are along for the ride moreso than anything else.

What’s your reason for buying?

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It acts as digital gold, offering a way to store and transfer value without relying on banks or governments. Its value also grows from increasing adoption and its potential as a hedge against inflation. You can continue to recycle arguments that have been around since it was trading at $500 or you can open a book and take a deep dive. Don't let your ego stop you from learning new things.

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lol

I think it’s ego leading people into the desire to get rich quick with a mercurial digital coin. It’s ego keeping people from seeing the risk and even worse, advocating for the purchase of something as risky as bitcoin. Ego wants to build itself up and bitcoin plus the internet/social media makes for a nice combo to pump it, and one’s ego up.

I guess the one big question to anyone looking to get involved with bitcoin or other digital currency is how it would impact your life if it went to zero or just got wiped out by the government?
If your answer is limited to taking a loss on any investment that you have then you have to think real hard about whether or not you should be “invested” in it.
Put another way- what is your use for bitcoin and If it didn’t exist, would your life change?

As for me, it wouldn’t impact my life whatsoever. I have very little invested in it at this point and it’s part of a trade anyway. I’m willing to take the risk. I don’t use it for any purpose in my life. I don’t rely on its existence.

I do, however like the idea that it trades and is something that millions of people have hope in. I admit that this is selfish because all I want is to trade on those people’s hopes as a fomo trade for my own financial gain. If it drops in price to an arbitrary 25% below where it is now, I’d probably jump back in for another trade.