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I remember a story about the kennedy's fortune coming from getting out of the market before the Great Depression. Supposedly he knew when to get out because the shoe shine boy was putting every dollar he earned in the market for sure profits.
I want to point out that I am not saying that cryptocurrencies in general or bitcoin itself is in a bubble, but I have seen some concerning behavior on here regarding some alt coins. Every thread seems to be about how much money you can make and nothing about the actual tech behind a project. It has gotten to the point that if any project does have a single good thing like a proof of concept released, everyone goes crazy and it pumps it to the "moon".
I've come to the conclusion that people have no idea what any of these coins are that they are invested in, and this alt coin bubble will soon burst. There is a post on the front page about edgeless. I remembered thinking this project was a little sketchy, but decided to read the white paper again to see what it was about. It took me all of five minutes to see some major issues with the business model from the perspective of the token holders.
If you're interested in what those are, then go read that thread, and I'm definitely not saying that edgeless is a scam in the sense that they will run away with all your money and never finish the project. I am however convinced that the coin is immensely overvalued and nobody is even thinking about it and what scares me is that it seems like nobody cares. It just proves to me that people say to themselves "casinos make money, so if I invest in this online casino I will surely make money!" And pour their savings into it before reading about the project at all.
Anyways, I'm sure this is an over exaggeration, but maybe this should be a time that I listen to my gut and escape before the crash comes.
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We were buying edgeless because of the strong possibility of a moon on Monday when they add a countdown timer to the website, not because the token is actually valuable.
Also, the team is supposed to post proof of being licensed to operate an online casino sometime or another. If that happened there would be a nice spike in price.
Actually long term holding a random casino token would be insane though.
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>>3511464
there's much truth in what you laid out especially regarding research, however cashing out is still a no-no, at least if anon heeded the sound advice to never speculate with funds he can't afford to lose
who dares wins and we are all winners IF the current overall trend continues
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biz/raelis are not shoe shine boys
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>>3511592
>>3511536
>>3511508
>>3511464
pic HEAVILY related
have been discussing this in the +2200 member bitpam /biz/ cryptocurrency trading/mining/coding discord server, might be a good time to get out
discord.gg/VpPrGmF
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>>3511623
look at the dates
i kid u not since june youtube channels who have nothing to do with crypto have started promoting crypto, i kid u not +70% of people im subscribed to that are not crypto are shilling crypto, its really SCARING me
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>>3511634
as a lolbertarian, I'm also in it for escaping oppressive taxation/gatekeepers/monopolies
if the marxist trend continues I'll be glad for remaining in crypto
don't get me wrong, I'm diversified enough so I can trade crypto against fiat at any time opportunity presents itself while growing the remainder through alts
I took out my initial investment in late spring but currently not interested in taking additional profits out simply because I don't need more money and believe in the underlying tech
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>>3511623
The roles are reversed in this situation. The shoeshine boys are the ones who invested first and built up the market. Once wall street starts getting in is when the trouble starts. And that's already happening. Once they get involved, the rest of the world will follow.
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>>3511851
anon wallstreet is already in, whyd you think bitcoins price shut up too 5k in a year
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Dont put all your eggs in one basket.
>Listen to my gut and get out.
Your gut is a basket.
Leave some money in crypto, in case it "moons". Take half out and put in other investments.
If sketshy icos worry you, just go for BTC/LTC/ETH.
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>>3512099
>LTC
chinkcoin
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>>3511464
you have a point, but bitcoin and cryptos are not at that point yet. it is talked about on the Financial tv channels and there are more newspaper articles about it, but it hasn't been bought into by the mainstream public.
when pensioners are buying coins with their money and strippers are investing in coins, then the bubble is in full force. we are now pre-bubble. if anything, the dip we are in will just encourage more people because it is a publicized event and also looks like a good opportunity to get in.
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Even if this bubble pops, we'll still float around 1.3k-1.7k.
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reminder that money can be made in a downtrending market too
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