Shitcoin: Failure to launch edition

>reminder that bitcoin is literally nothing

>>1722553
Cash is just plastic and paper linked to a metal which is valuable because its shiny

>>1722584
>he thinks we are still on the gold standard.

Not defending bitcoin though.

>>1722539
It rose steeply for a few weeks, had a correction that set it back by only a few days, and now it's been extremely stable for a couple of days at a very high level.

That's probably as close to ideal as it gets.

>>1722589
I dont think you understood my post

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Some years ago I bought gold at $600 then watched it rise to almost $2000. Whilst feeling pretty smug I went to a lecture by Jim Rogers who said that in all his years investing, anytime an asset had risen as fast and hard as that it had always suffered a 50% fibonacci retracement. He said he would only buy when it fell closer to $1000.
Oh how I laughed...
And how right he was.
I learned my lesson and the coiners are going to learn theirs.
Take some time to study this "anatomy of a bubble chart" then look at what gold did over the last ten years. Look at what bitcoin did in 2013, then look at what bitcoin is doing today and think of Jim Rogers advice about 50% retracements.

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>>1722539
Where are all the smug coiners now?

Probably all jerking eachother off in the Trumpcoin thread

Given enough time, all commodities become worthless. The only things worth investing are REAL ASSETS. I'm talking shit that'll protect you when shit hits the fan not some make believe currency. Doesn't matter how many bitcoins you have if you don't have real assets like land, food, or transportation.

>>1722691
>Given enough time, all commodities become worthless.
Meant to say currency here. Anyway, you gotta own real things not magical numbers on a piece of paper or computer.

>>1722584
which also happens to be backed up by the fucking government, what's propping up bitcoin?

metals have been consistently valuable for about 5,000 years, they are refined elements that are finite and can be physically owned

>>1722706
>backed up by the fucking government
You sound like a fan.

>what's propping up bitcoin?
An unhackable system that is impervious to direct involvement from politicians and bankers.

>>1722706
>fiat is backed by government!
>bitcoin is literally nothing!
>precious metals have a lot of history!

Are you the same shitposter who keeps bringing up these same shitty grandpa talking points, or are you part of some concerted shilling program?

>>1722778
>You sound like a fan.

never underestimate the value of being able to point at the source of your problem

>An unhackable system that is impervious to direct involvement

also meaning that in the case of disagreement, there is no potential for arbitration. screwing someone over in the bitcoin world has NO consequences. c'mon now, these are human beings. every single one is looking to scam the fuck out of the entire system.

>>1722782
I wish that "decentralized community consensus" was enough to guarantee the safety and security of the process, I really do. With the ability of something to disappear instantly, or lose value instantly, and no authority to resolve conflict, its a recipe for getting fucked over

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FLAT CAT BOUNCE = DIVING BOARD INTO THE DEEP SEA

Walk the plank coiners.

>>1722853
>problem
>in case of disagreement
>screwing someone over
>safety and security of the process
>ability of something to disappear instantly or lose vale instantly

What are you talking about?

>>1722878
what are your options if you perceive a "deal" with bitcoin going wrong?

>y-you can leave a NASTY review on their site! haha!

>$900
>life support

Still seems surreal we are at $900 ,this time last year it was $330

>>1722676

You had credibility right up until the word "Fibonacci." Fibonacci retracements, Elliot Wave Theory, and about 90% of technical analysis (with some exceptions) are the investing equivalent of tea leaves and astrology.

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>>1722916
MAN! Such a coincidence! Somehow they all magically align to the Fibonacci retracements!

Learn more, kid. We're falling down to $679.

>>1722884
What a silly silly thing to ask.

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Bagholders are still in shock from the bleeding out.

Tick tock till the first one says "this is fooked".

The we resume the dip.

It's like falling off a cliff and hanging on for dear life as you grab one last ledge.

>>1722941
you obviously have a great response to the silly question, let's hear it

>>1722937

I'm not impressed by your ability to retroactively draw a chart that fits your ideology. The idea that there is this magical golden ratio in the markets is so absurd that it's laughable. Go ahead and keep chugging the snake oil.

If you can point me to a single money manager anywhere who has made steady, long-run returns using this method, I will eat a steaming bowl of my own shit and post it to Youtube. And I hope it happens.

>>1722955
Who pays you back for deals gone wrong with fiat?

>>1722966
reputable businesses are liable to be sued the fuck out of if they don't comply with legal requirements

>>1722967
Legal requirements for trade, not currency.

>>1722937
Can't be done. China is actively trading BTC whilst yuan crashes

>>1722969
Look, all I'm saying is that humans are greedy fuckers. greedy, conniving fuckers that want nothing more to exploit the first loophole they can get their greasy hands on.

without a ruling body to ENFORCE the """"rules"""" you are left with a system only propped up by the code itself.

see:ethereum...who could forsee some greedy fuck would one day decide to drain everybody's accounts, but wait...

>i-it was completely w-within the power of the system haha! I deserved that ether! I played by the rules guys! remember, code is law!

yes, undeserved ether. stolen ether. why? because he could, and because that is what humans will ALWAYS default to, exploiting the loophole in their favor. aka "the wild west"

with no consequence, there is no incentive to act in accordance with a lawful, ethical business standard

>>1722989
So what's the difference with fiat?

>>1722694
what makes things "real" belief in them, bitcoin here to stay anonkun

>>1722853
>also meaning that in the case of disagreement, there is no potential for arbitration. screwing someone over in the bitcoin world has NO consequences. c'mon now, these are human beings. every single one is looking to scam the fuck out of the entire system.

>what is escrow

>>1722993
a ruling body with the power to punish those convicted of violations in accordance with existing law

>what is escrow

escrow is when you receive your package, but claim you didn't so the bitcoin is never released to the seller. really, why pay when you don't have to?

>>1722676
>anytime an asset had risen as fast and hard as that it had always suffered a 50% fibonacci retracement

>>1722937
im not seeing 50% at any of them though.
Plz explain im interested in this

>>1723006
>a ruling body with the power to punish those convicted of violations in accordance with existing law
You mean courts of law?
Why would they not rule over bitcoin transactions?

You seriously come off as a primitive tribesman who's afraid cameras steal your soul.

all these bitches that missed out on those sweet gains from 230 upto 1180. you keep telling yourself its worthless while i keep improving my bank balance. only means you'll be buying in higher in a year or two.

>>1723015
>Why would they not rule over bitcoin transactions?

they represent the government who issues their own currency.

>>1723015

don't you know this already? you already claimed bitcoin is

>An unhackable system that is impervious to direct involvement from politicians

and you're wondering why the "courts" wouldn't rule over it???????

>>1723007

Do not fall for the smoke and mirrors.

I want you to look at the posted price chart and just draw horizontal lines through it in random places. Do you see how virtually *any* line drawn could be construed as a support/resistance level? Theres nothing magic about the horizontal lines drawn at 50%, 38.2%, or literally any other percentage.

The vast majority of technical analysis "methods" are created by people who want to sell books teaching people to trade.

>>1723020
I don't think you understand your opposition.

There are many people that actually know how Bitocoin works and at the same time know who it is enriching.

Figure that out and you may not want to sponsor it either.

>>1723022
>>1723028
You think courts are going to be mean to you because you aren't using the overlord's money?

>???????
Confirmed for ageing boomer.

>>1723036
>know who it is enriching
The guy you just quoted, apparently.

>>1723036
so who is it enriching? cause it sure seems to be great for me. i undestand the bitterness towards it from people who simply missed the boat, or the several boats over the last 5 years, but i fail to see how that is any different from any other speculative investment. it rewards those who adopt early and take risks, and not those who jump in on the bandwagon when its too late.

>>1722998
>what makes things "real" belief in them,
Learn some English, moran. Real things provide sustenance and subsistence intrinsically not a bunch of numbers. Whoever controls the land, food or water has real power.

how far will bitcoin fall? im gonna buy some. i just don't see it going away, if anything it keeps getting stronger but who knows, i am fucking retarded

>>1723125
>but i fail to see how that is any different from any other speculative investment

And this is why you will forever be bluepilled.

You believe reward should be given for something that only involves scamming others.

Peer into the future a bit more and see what that future gives you.

You failed the sim.

>>1722584
It's also the currency of the US government, the banks, and accepted by most nations in the world.

>>1722676
So... the overall trend is still rising? Wait for it to bottom at the end of the big drop, buy a few, and you're good to go again?

I got 45 dollars worth of bitcoin how can I make more?

Also, I have bitcoin atm's in my area how useful are those?

>>1723341
say who it is enriching or shut up faggot

>>1722778
"Unhackable"
51% Attack

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>>1722677
nice digits

>>1722677
We all sold the top and are laughing at bag holders now.

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>>1722676
>anytime an asset had risen as fast and hard as that it had always suffered a 50% fibonacci retracement

Quite a claim. Has this been empirically tested? Technical analysis in general has been dragged in the finance literature. See: "A Random Walk Down Wall Street", Malkiel.

The term "bubble" is used so often now that it has lost all meaning. The existence of a "bubble" implies some (positive) departure from an asset's "fundamental" or "intrinsic" value. But gold and bitcoin don't provide dividends or cash flows to value them with even a simple DDM or DCF model; all capital gains come purely from speculation on price movements. While it's certainly profitable to profit from well-timed trades, this practice is gambling disguised with nonsense and validated with confirmation bias.

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>>1722539
It must fucking sting being a nocoiner at this point in history. How can you look at yourself in the mirror, knowing you missed the trade of your lifetime. I started buying when it was below $10.

Don't worry nociners, when it reaches $1,500, it will dip back to $1350 for a while, and after it reaches $2000 it will dip back to $1800 for a few weeks. There is plenty more opportunities for shitposting and butthurt.

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>$900
>life support

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>>1723609
pure shitpost, from start to finish. Ivory tower nonsense.

Gold and Bitcoin are money, not investments. They are not supposed to produce cash flow. They are liquidity, capital.

The fundamental value of gold is that it is money with no counter party risk. It cannot be bailed it, printed by the government, it does not decay, it is universal and timeless. All cultures value gold and have done since the start of civilization.

The fundamental value of Bitcoin is that it is an internet native unit of account, that can't be printed, bailed in, no one can stop it or switch it off, anyone with a simple phone can use it, it is external to banks and governments, it's usage is near free.

The problem with intellectuals like you is that you can't see when you are wrong, you remind me of Krugman. It's just not part of your model of reality that you could be mistaken.

>>1723341
scammed? i dont think you understand what bitcoin is. no one forced anyone to buy bitcoins, and the people who did at the right times have made a killing, everyone else is chasing that same dream and most, like you, have missed the opportunity.

don't feel so bad bud, maybe next decade they'll be an incredible opportunity for you.

>>1722676
I'm in it for the long haul. Not trying to get rich quick.

**Spoiler alert**

Bitcoin will go up again. Then down again. Then up again. then down again. And every time we will have the same exact conversation over and over again. Only once the dust settles btc will have a few more users, a few more use cases, a slightly larger network, and be worth a bit more.

>>1723036
>2smrt4u
>muh china
>muh jews

>>1723341
>Peer into the future a bit more and see what that future gives you.
Please tell me more Mr. Time Traveler!

>>1722691
>when shit hits the fan
So literally never.

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>>1722937
prophet

>>1722937
The first circle shows the price crossing a "fib level" many times, while swinging in a range on the same scale as the size of a fib level.

Second circle shows a peak close to a fib line. If that distance counts as 'fib is right' then at least 1/3 of the all the possible prices the peak could have landed on would have you declaring fib is right.

Third circle, same shit. Price crossing fib line many times, never the peaks and valleys, nor the big dip way past the 'fib level', those don't count right?

Also 0.5 is not even part of the fib series in any universe.

To top this whole voodoo bullcrap off, sometimes you pick the edge of a tail, other times it's the base/top of the candle that counts.
>look the edge of the tail almost hit a level, fib is right!
>look the base of a candle kind hits a level, never mind the long tail, fib is right!
Whatever makes the data fit right?

TL;DR
Fibonacci retracement is pure pseudo-science. Stop trying to pass confirmation bias and math words as real math you uneducated monkey.

>>1722960
>I'm not impressed by your ability to retroactively draw a chart that fits your ideology.
>>1722937 Literally predicted what was going to happen, you fucking retard. Now time to get on your knees and suck his dick.

>>1723823
I have been.

You're just not listening.

>>1724684

You can draw a horizontal line at any point on that chart and make an argument that it served as support/resistance at *some* point. I challenge you to draw me a single line that does not fit that criteria. Time to get on your knees and fucking kill yourself, faggot.

>>1724518

This person gets it.

>>1723811
bingo