Cryptocurrency

[Whorty]

Andrew probably typifies the vast majority of crypto investors. It's not about an alternative to fiat, central banks and traditional finance. It's all about NGU (number go up) and get rich quick.

There is no probably about it ... 99.9% of those in crypto are only in it to make money. They don't have a clue how traditional finance works, and certainly don't have a clue how crypto markets work .... all they want as you say is NGU and they can claim they are some kind of trading expert.

Funny. And sad.

Have a gamble by all means folks. But that's what it is, a gamble.

[DealorNoDeal]

Folks won't desert the space until the pattern stops repeating. Ever since BTC's creation, all you had to do was buy near a bear market low and you multiplied your money 20-fold within 2-3 years. I suspect many are currently on the sidelines waiting to pile in when the current cycle bottoms out, with the expectation of it being $200k+ in a few years time. I've seen on trading forums that the dream is still there of $500k or $1m.

[jamesbrown]

I've seen on trading forums that the dream is still there of $500k or $1m.

These numbers are probably within reach for the accumulated value of all crypto assets.

[DealorNoDeal]

These numbers are probably within reach for the accumulated value of all crypto assets.

I wouldn't bet against BTC having another huge run up. The perception out there is that it's still a long-term NGU, and it's only a matter of time before crypto winter turns into summer.

Not sure where the current cycle will bottom out but $10k looks on the cards.

[pr1]

Not sure where the current cycle will bottom out but $10k looks on the cards.

Sorry mate but I'm gonna need to see some charts with coloured lines and arrows on for me to take you seriously

[northernladuk]

Sorry mate but I'm gonna need to see some charts with coloured lines and arrows on for me to take you seriously

[jamesbrown]

I wouldn't bet against BTC having another huge run up. The perception out there is that it's still a long-term NGU, and it's only a matter of time before crypto winter turns into summer.

Not sure where the current cycle will bottom out but $10k looks on the cards.

If, by summer, you mean a hot period where the post-firesale accumulated value of all crypto assets drops to $10k, then I think you're right, "summer" is also coming shortly after winter.

[DealorNoDeal]

If, by summer, you mean a hot period where the post-firesale accumulated value of all crypto assets drops to $10k, then I think you're right, "summer" is also coming shortly after winter.

It would certainly be for the better if it died a death but I suspect there are far too many out there who still believe it's a road to riches.

I thought it was dead after the 2017 run-up, and subsequent collapse from $20k to $3k, but it then went up over 20-fold to nearly $70k last year.

Moral of the story: never rule out idiotic human behaviour.

[Whorty]

Sorry mate but I'm gonna need to see some charts with coloured lines and arrows on for me to take you seriously

The graphs only work if you talk about candles, doji, and flippity-doo-dahs

[Paralytic]

I know, right? What a fooking *****d

But, it still wasn't his fault. A big boy did it an ran away

"The hardest thing about this loss is - we didn’t get the chance to lose the money ourselves, it was just taken from us."

Hard to feel sympathy for someone who won't take responsibility for their own actions.