The general public is not buying this stuff. It’s just a manipulated market and if you realize that, it’s easier to make money off of.

Once the big players have made their desired profits, it’ll dump again.

Are you saying ETH in your opinion wont go higher?

I’m not saying that at all.

"I joined crypto in early 2017 buying some bitcoin, for what bitcoin promised to be. Later that year discovered alts, traded, gambled, made a lot, roughly 50000% and lost it in the next 3 years gambling alts and in leveraged futures. Worked for one of the Binance IEO projects, that started with high multiple out of the gate, before that worked for another crypto startup. Realized a few things. I can tell you even the Binance IEO which raised about $40M overall, is a complete joke, that is now, 1.5 years later, wrecked and only the founder(s) will be rich at the end.

This "industry" is a complete joke industry. It's basically the flat earth society of IT and Business. Even the founders, CTOs, "hackers", they come here to just make money, most of them are just mediocre. The truly great people avoid this industry, because they understand the money is not everything, it is important to put your time in something that is meaningful.

Bitcoin is no longer what it promised to be, it went against what Satoshi wrote in the emails and on bitcointalk. I don't know if it was really attacked by the state actors or not, but it's been misled to lead people for off-chain solutions like permissioned Liquid promoted by Blockstream or Lightning Network, whose whitepaper even makes some simple calculations that it's not possible to reach any meaningful adoption without increasing the blocksize to 133 MB (I'm not a proponent of BCH, BCHA or BSV or any other coin). The only way would be to make Bitcoin completely centralized via centralized lightning wallets and then, still, the layer 1 would die with no txs happening there. Even if only "big" txs happened over the base layer, you really think that the fees wouldn't go to thousands if not tens of thousands of dollars per tx?

Since the early 2017 to the end of 2020, there has been no real progress in this space, I would even say if progress can be described as a function, its derivative would be negative on this time scale on all points of it. The progress they tell you about is imaginary, they try to give you an idea of fastly developing space that will change the world. It couldn't be further from the truth. Those telling you this are those making money off you.

The only use case of crypto is gambling, while they're trying to tell you it is not. Some people would for example say DeFi, or that DeFi would replace FinTech and use more and more buzzwords (that's how you get the average joe to invest in this anyway, FOMO) and it will entirely replace the current system. It won't. DeFi is just lending money to other speculators, so they can speculate over intrinsically worthless tokens and coins again. It's just the fuel for gambling, nothing else, it doesn't solve real life problems outside of crypto. And for my beloved bitcoin proponents, all you care about is fiat price, stop being hypocrites. Even Andreas Antonopoulos has become a true hypocrite. Early in his days he was a true Bitcoiner, now he's sleeping in bed with Blockstream and Tether like everyone who has their skin in the game."

"Tether is a ticking bomb, no one sane can believe it is still backed by real money and NYAG, CFTC, SEC, DOJ or someone else will soon put an end to it. In January, Tether is supposed to finally deliver the documents about the backing. In 2017's bull run there was only 3B in tether and Google Trends peaking, now we have almost 21B printed and there is no retail interest anymore. This wave is probably the very last wave the bitcoin will ever see and it's probably just Tether manipulating it. Tether is printing like crazy and the "influencers" are telling you the bitcoin boom is due to the institutional interest. But, how could it be? Do you really think that institutions deposit USD to iFinex (for USDT), which has to change banks so often, that it's probably easier to use briefcases for the money than deposit in the bank. Remember that when the **** hits the fan, there's probably very little real FIAT in the game and only small number of people will be able to get out. If you're not comfortable with bitcoin going to $1k or even less, you probably shouldn't buy.

Bitcoin and crypto communities are generally very awful, full of hatred and start attacking you if you even try to challenge their views. It's a true cult and it's a well-made cult. Bitcoin+Tether+ICOs are the biggest scam of this century and the scam of Bernie Maddoff size. I fell for it as well for more than 3 years. Then left crypto for 1 month and realized, that even during this "bull run", no one outside cares, in the real world, cares, google trends don't lie. It's best compared with the flat earth society, antivax people or trump's loss deniers. This is an industry full of jokers, influencers that tell you what you want to hear (how can anyone listen to people like Anthony Pompliano or Peter McCormack, wtf?). But I can't blame them, I was there, the echo chamber is really strong, it doesn't let you out. But I'm also grateful I only lost about 3 years in this space, it also helped me learn a lot about me, people, businesses, etc. Even though I lost the money at the end, it was a very valuable life lesson, I lost, it took 3.5 years after huge streak of wins, because I got greedy and this industry has no regulatory brakes like in the traditional finance, it helped me discover a lot about myself.

The scary fact that even smart people are lured quite easily and even billionaires. Look at this microstrategy joke, this will be in the textbook for a fraud, the Saylor is so sure about his bet that he has to moan 24/7 and push on other billionaires to pump his bags. Michael Saylor shows just how I was thinking about bitcoin in 2017, completely uneducated and without broader perspective."

This all happened during my university years (comp. sci. and infosec), prestigious program and can still tell you, no one cares about crypto, except from the academic level (how to really scale, BFT algorithms, etc) and still, even those who study it (Ph.Ds and professors), don't own any crypto. All my friends and acquitances that were at some point in crypto, already left as well (all in academics or working in IT). I'm grateful I realized this early and I will spend rest of my life in some meaningful way, not brainwashed in this cult. I'm soon to be finishing Master's and starting a real adult life without this crap and applying all the knowledge I got here to be successful.

BTW: When I was still fully indoctrined by this space, I thought this subreddit was just a satirical subreddit where people come to make jokes, lol. I also thought I'm better than other people, because others can't see the revolution happening and they will miss out. Oh boy, I was *that* wrong. I'm deleting this reddit account and leaving this space for good."

BTC smashing through $25,300 right now. Things could get interesting from here.

Where did you get that post from? Food for thought.

I agree about Tether, and I hope I have some cash around to buy if/when it tanks the crypto market.

That's exactly why Bitcoin Cash and BSV was created. Too bad BSV has Craig Wright.

Roger Ver believes that it's possible that state actors discouraged increasing blocksize for BTC, to decrease adoption as a currency. To maintain the dominance of the dollar as the world reserve currency.

He talks about the possibility of state actor interference in this interview...

From 41:40

https://www.reddit.com/r/Buttcoin/co...ould_probably/

bitcoin now is not what most of the early devs wanted it to be. The early narrative was that bitcoin should evolve over time, that it was a product in work. This of course didn´t happen, and it got hijacked by bad people. And now it´s just a pump and dump scam to make money on by recruiting new people into the cult. Like a religion with a bible (whitepaper) the bible is not even followed and cared about though, but they pretend they support it. A mysterious founder of the project called satoshi, who everyone is sucking the dink of, when in fact, his original idea was pretty flawed, and was supposed to change over time.

how do mETHheads cope with the fact that its sat value is lower than it was in February 2016?

You sold off at sound levels in my opinion. No reason to expose yourself to potentially heavyass bags by trying to sell off at the absolute top.

A lot of guys chase the latest bleeding edge projects for the $1,000% return, but there's a fukton of money to be made on the top 5 coins by just buying and selling the quarterly 20, 30, and 40% swings.



I don't know about the rest of you guys but i'm kiiiiinda feeling like BTC 20k might be the new 10k. I didn't want to accumulate at these levels, but I was watching bloomberg market news this morning and they were talking about "blockchain ETFs" popping up in the European stock market. It seems institutional money is mounting up and MoonMission2021 is only weeks away.

Sidenote: Microstrategy did a fukton of BTC accumulation at $19,000 there is no fuking way they don't take 50% gainz at $30,000. Those are stupid returns for a hedgefund.

We all knew he'd be back. Good to have him here, keeps the clueless enthusiasts in check.

26k here we come

theta doing good too

So I'm going to add my 2c here to this reddit post you copy-pasta'd.

1) The fact that Tether didn't implode in 2018\2019 is pretty strong proof that it's here to stay. The fact that it still exists and hasn't been the target of regulatory takedown like other digital dollar's in the past have is another sign. ****, USDC just passed 3.5B tokens in circulation which is how much Tether had a year ago when BTC was 9k. Are we calling USDC into this problem as well? USDC is perhaps the most regulated and legit stablecoin ever to exist ever. It has the full blessing of "the banks" as it were.

Additionally, Tether wouldn't work if round-trip arbitrage wasn't possible. The biggest holders of Tether are users on exchanges. People sell their crypto to "cash" on Binance for Tether. They hold the tethers there. They are the ones printing USDT, people selling BTC into Tether bid. The people doing the round-trip arbitrage are fulfilling that through spot markets on Bitstamp\Coinbase. They sell the BTC they bought using USDT on Coinbase, cashout the USD, send the USD back to Tether, and the tally just keeps increasing as customers demand more and more Tether. It's a public metric of how much "cash on the sidelines" is sitting on exchanges because instead of selling on Coinbase and having that cash sitting in undisclosed Coinbase bank accounts, it's true value is fully public. Tether FUD'ers and ****, most people in general don't understand how this mechanism works. Nor any of the other mechanisms that mm firms use it for (margin balance on futures, moving collateral funds around between exchanges far faster than wire transfers, etc)

2) re: speculation, but that is capitalist markets in general. Buy now, sell higher to another sucker who wants to do the same thing. Only difference now is billionaires are playing the game. Does Saylor really give a **** about Bitcoin and what it can bring? Would he give 2 ****s about it if there wasn't a price and profit that could be extracted? Would any of us?

3) Agree on the influencer hate. I hate the permabull @100kUSD, @pomp and other permabull moonshot social media things. The influencers on tiktok peddling ****coins for referral fees. It's all bottom of the barrel ****coin\pennystock behavior. But, there is truth in that it is very similar to the penny stock\OTC market of the bottom of the barrel ****. There is demand for the dog****... for some reason.

4) Yeah it's pretty cult like. You have to abscond yourself from that **** and realize why we're all here. To make money. Sure the tech is cool, but that kind of stuff is isolated to PhD's who actually understand wtf is actually going on. To us normal people, it's all about the price of things. Whether you can make money. And we come right back around to the gambling\speculation use case.

Btc is the king, look at the charts. Bitcoin dominance chart is spelling utter doom for alts.

When I initially invested in mid-2017 it was ETH and other alts. In late 2017, I decided to invest in BTC since I noticed a correlation, and wanted to mitigate the risk of BTC dominance.

Turns out to be true so far. My Sats are down 66% since then. Really glad I did buy some BTC. The tide could swing, but I'm covered regardless.

Who remembers the time BCH was supposedly primed to overtake BTC? And that Roger Ver guy was in the spotlight.

Agreed. But the big players are only just getting in.... Similar to normies in 2016. They will dump eventually for sure, eventually.

I still think ETH is a better bet right now though.

Needs to break out of this channel, certainly bullish

We need a correction. This is ridiculous.

At this rate we won't need to wait a year to see $100k lmao.

Green dilly has a massive erection.

Its hard to come to realization this thing will hit and 30k and then sum more

Ath territory. no current price has a historical reference anymore, only the moon.

Anyone here surprised by bitcoin? Anyone here think it might take another dip and the fools and their money are soon parted (again) like when it last went all the way down to 4k?

Obviously long term holder would be unaffected (again)


People (normies) are for sure buying right now

Has btc ever not surprised anyone?

It's blown past every overly-optimistic prediction ever set.

I just hope I keep catching waves

Btc to the moon

Actual, in your own custody, BTC. Can't help but smh at the fact that so many crypto brahs don't have any BTC to their name other than for trading purposes.

Too many idiots keep buying alts. The charts say it all.