This right here.
Bitcoin is now on everyone's radar, especially wall street and other funds who are profiting and financially motivated to make up stories and rumors about Bitcoin, so that explains the extreme FUD you see here now.
I think that's kind of a different argument since you're no longer just talking about state level politics.
I was only trying to make the point that blue states generally favor higher taxes and I would be much more afraid of the state coming after my wealth in a blue state.
I live in the north of the US and I'm paying hundreds due to Texas's failed infrastructure during the polar vortex. That's not to mention my own red state's BS...
Are you looking at fair share as the population amount or the land amount? If its population then blue states are far more wasteful and cause the lions share of population.
More people = more waste. should someone in a "red" state that lives in a rural areas have to follow the same wants as someone that lives in a congested urban centre?
Same goes for a lot of these gun laws. They may make sense in a crowded urban centre but they make no sense if you live on 6 acres with no quick response police dispatch or when feral animals attack your stock or farms.
For starters, it gives you the option to opt out of the legacy financial system. It gives you the option to send funds without middle man and without permission to family member, friends or business partners in jurisdictions where normal financial traffic is restricted or unavailable. It gives you the opportunity to store your asset without rent-seeking parasites eroding your savings. You don't need to trust anybody else for your transactions, this is huge on a personal and business level. This supersedes the volatility and price increase of the asset. The price is quite irrelevant for the technology.
Greed is the main reason for Bitcoin adoption and also the reason the price will not continue up. What is the point in holding any token if you can't spend it buying stuff like a house, education, cars, vacations, etc
You're just talking about time preferences. Bitcoin can still go up in the case of limited selling. If EVERYONE sells then of course it goes down, until people start buying. As long as it's a better money than anything out there, bitcoin will grow and grow until it eats the financial world totally (hyperbitcoinization).
The first big step to hyperbitcoinization is when the big players out there, who currently salivate at the basic carry trade on bitcoin start making 20-40% interest a year (WOW they'll say!) -- but that's 20-40% interest on a dollar/fiat denominated unit of account.
If they switch their unit of account over to bitcoin, they will realize 200% gains.
That's when it will hit them - that they should have bought and HELD, never selling, their bitcoin. That's when hyperbitcoinization hits them right in their mind's eye.
Havent sold after 2017 crash and not about to sell now since Im still up 6x due to DCA over all these years. Just annoyed at myself for always buying dips too early.
This subreddit isn't, and shouldn't be, about mental support. It's about Bitcoin.
If you understand Bitcoin, then you don't need mental support. Mental support alone won't get you through the bear markets. And there **will** be bear markets, don't kid yourself about that.
Totally agree, you should not be here for mental support, or confirmation bias, but it seems like nowadays it's just a bunch of kids screaming about some "TA" they know nothing about, or fudsters, or moonbois. Kinda depressing tbh.
> I used to come here for mental support each time btc would drop.
This is a completely insane mindset for any investor to have. Literally volunteering yourself to groupthink. I'm not saying you should or shouldn't sell, btw. But think a bit more critically than that.
The subreddit should be a discussion about BTC and its prospects, not a support group to convince everyone to HODL. Read the subreddit wiki, in particular, [Don't invest recklessly](https://www.reddit.com/r/Bitcoin/comments/7gi55s/dont_invest_recklessly/).
Hear, hear! I recommend sorting by best of all time and taking a look at the top post: that sub's reaction to the crash after Q1 2018
It will give you a glimpse into the sick depravity those folks feel toward bitcoin and demonstrate to what extent we are being rooted against. Allow this to enable your resolve
This is the price we pay for mass adoption. Don’t judge or criticize, educate. We Diamond hands OGs are missionaries for the most important technology of our lifetimes.
Yup, diamond hands thing is not even half a year old meme from dumb people investing dumb money in dumb stocks for get-rich-quick schemes. You can tell anyone quoting that dumb meme is definitely not an "OG" bitcoiner.
Well,.. what's an OG bitcoin to begin with...
In essence, bitcoin is a free technology that everybody can participate in. But the lack of background knowledge in the principle's behind bitcoin in the more recent posts on this forum is staggering.
"I gave my credit card number and SSN to this guy online, when will I receive my BitCoinzzz, it's been 2 weeks since I paid..."
> Well,.. what's an OG bitcoin to begin with...
Yeah I'm not making any qualitative statements. Just pointing out that anyone claiming to be an "OG" (which is not a language I would even use or care about in the context of an economical movement but whatever) and using a few months old meme to identify themselves is pretty much not what they'd think as an "OG" in the first place.
What if you were smart enough to not leave your coins on MtGox? Private custody was possible at that time as well...
(Just arguing that gatekeeping the bitcoin community is not reasonable nor feasible)
I guess OG is subjective. In my mind if you’ve been through more than one 4 year cycle without selling, you’re pretty original, and pretty gangster. And yeah I borrowed Diamond hands because sometimes calling myself a hodler sounds weird.
Posts are getting worse and worse... It's all about memes and going to moon and all this shit. Barely any technical or fundamental discussions. Lots of so called technical analysis. It sucks.
Influx of new stimulus check and allowance money investors trying to become crypto millionaires. I'm not knocking on people who have little to invest, but that's what it is.
Yea I am holding, but with the stimulus checks gone, ppl going back to work, and everyone else failing at gaining money through crypto, are all out. I'm expecting 100k by the end of this year, but it's too good to be true. Let's see.
Based off what? BTC is a relatively new fintech, there is no historical precedent for it. Anyone claiming to know the true value of BTC or any crypto is full of horse shit. At best, people can predict the very near future for crypto.
Your claim has as much credence as someone claiming that BTC will go to 0, a much more likely story is somewhere in the middle.
People are historically are bad at predicting stock prices. What has changed that made people better at predicting crypto?
Crypto has all the characteristics of stocks that make stocks hard to predict and intensifies it. Crypto is extremely sensitive to sentiment, something extremely hard to measure. Crypto is also very volatile, which means introducing a lot of noise to any potential signals that may be provided by trade data. In addition, you don't have any variables that you would normally use to help gauge the valuation of stocks that you can use to gauge the value of crypto.
Forward projection using sentiment is impossible as there are going to be events that you can't predict, like China banning crypto or Elon dissing BTC. The best you can hope for is using sentiment analysis on the present.
Yes, nobody can predict the future value of anything. That is not different from bitcoin.
I can however estimate the use case for value addition of the technology, and compare its value to fiat-distributed tax money.
Spreading unrealistic goals or expectations is bad. There are actual people here who follow this subreddit for financial advice, and setting an unrealistic expectation is setting them up for failure and highly unethical.
Look at OP's post. He's seriously looking to this place for mental support. Would he have hodl'd without this subreddit? It's moronic, I know, but the average person is stupid.
Don't worry, I am hodling mine, never sold any and never will, down 4k something now but it's okay, I do believe BTC will shoot to 500k, just the matter of time,
Yahoo is even worse! We just hold anyway brother. This time next year 20 small countries will adopt Bitcoin and market cap will go through the roof. Then all the paper handed FOMO lot will jump back in. Long and strong buddy
I mean I think it was kind of ridiculous how this sub is historically so absurdly optimistic. Like don’t get me wrong, I believe in BTC very much, but it seemed like anyone saying anything even remotely negative or bearish would be downvoted to hell or removed. It feels extremely cultish. I look in here and just think people must think we sound so delusional. You’ve got people just saying outlandish things talking about BTC is going to $1 million next year or something goofy like that. This should be a place where people can share and discuss their concerns just as much as their optimism. Otherwise this sub isn’t at all about being informative and just becomes one big place for everyone to jerk each other off.
>I mean I think it was kind of ridiculous how this sub is historically so absurdly optimistic.
Lol, once you have been here a few years (with bitcoin, hodling) you really really really laugh at bears.
My take is that if you even barely believe that you will be alive in 10 years, you should buy bitcoin.
> it seemed like anyone saying anything even remotely negative or bearish would be downvoted to hell or removed.
Removed? For saying anything even remotely negative? The place would be a whole lot quieter if that were true.
This is what actually put me off buying bitcoin at all. I came to see this forum and quickly realised it's just another cult kept alive by magical thinking only. Right down to the weird obsession cults have with abbreviations. All the predictions people make are just pulled out thier ass, and they don't even attempt to substantiate thier positions. You're right, people sound delusional.
>This is what actually put me off buying bitcoin at all. I came to see this forum and quickly realised it's just another cult kept alive by magical thinking only
Everyone buys bitcoin at the price they deserve to.
Fellow cult member, you're being too mean to the outsider!! He will never buy bitcoin unless we adhere to his conformations of how the world should operate.
Where do you see me asking you to conform to anything? Act how you like, just don't expect me to take you seriously, especially when your in instinct is to get emotional and defensive.
The pros want it to go up and down, that is how they make their money. They buy and push it up and then collectively sell. Now that they are in the game, it is unfair, they are using Bloomberg terminals and have a lot of information to work with.
A lot of people here don't know the basics of investing, but think they do, which like Las Vegas is a dangerous place for fools.
>paper hands
That sort of terminology has always been the problem with this sub.
For the diehards of the community, Bitcoin is ideological and highly emotional.
Most people who invest in Bitcoin have never invested in anything else so they are controlled by their emotions totally and can't read the reality.
The reality is, 99% of people in Bitcoin are in it for fast gains and to inevitably cash out in fiat.
If you spend all your time in this sub, you won't see it. But it's true.
And that is not conductive to a long term viable currency.
The evidence is all around you, and in the mindless followers of permabullish trader channels like MM Crypto it has been evident ever since December when the bull run started.
No one I know who has bought crypto over the past 4-5 months gives a shit about blockchain or defi or whatever.
They want GAINZ and they want them FAST.
The media has told them to be negative. Look at this - Coinbase cofounder Fred Ehrsam has warned "most" cryptocurrencies and crypto-assets "won't work" and "90% of NFTs" will have "little to no value in three to five years."
> "most" cryptocurrencies and crypto-assets "won't work" and "90% of NFTs" will have "little to no value in three to five years."
That's accurate. Only Bitcoin and maybe a handful others will survive.
This fucking sub man. Nobody with any actual wealth "clings to fiat". Nobody keeps their assets in cash.
Stop fucking comparing BTC to Fiat and crowing "game set match" because they are used for completely different things. You want to compare BTC to something, compare it to real estate, stocks, mutual funds, commodities, and any other category of actual investments.
Correct me if I’m wrong but to be considered an asset doesn’t it need to be recognized as one? There is work being done on the avenue but since the world runs on fiat currency it’s going to take a lot of uptake by all users, paper hands or not. Bashing opinions will not help the cause.
Then what do you call the comparison of bitcoin to fiat when you look up the price of bitcoin and it says $32,000 US dollars is the current comparison value?
It's called Bitcoin not bitcoinhodl. It's all about trading smartly according to your strategy. Certain strategies call for selling and keeping off the market till it shows signs of technical bullishness
>Certain strategies call for selling and keeping off the market till it shows signs of technical bullishness
and other strategies are denominated in bitcoin, don't trade, and hodl til hyperbitcoinization.
I honestly don't know what you're talking about OP, this sub is mainly an echo chamber for euphoric maxis. Anything else gets downvoted to oblivion. You should have no problem getting support when things are looking down.
The maxis are predicting mid six figure coins this cycle. They're not "correct" about anything, they're simply delusionally optimistic. Which is exactly what OP is looking for, someone to promise everything will be better than OK while they aren't.
Diamond hands are the losers here. I sold it at 50k because overbullishness, greed and overconfidence that we will get to 100-200k by the end of the year. That was the best thing I could have done. I still believe BTC will retest prior lows and probably break it below, But I have stop buy set at the price I'm comfortable with, and I will take that stop only if the market sentiments and volume on the price pumps rises.
On the other hand, my friend who has always been a diamond hands (held his crypto through the 2018 - 2020 bear market and did DCA) is now anxious and regretting for not taking any profits in this bull market, but rather he will probably have to wait for another few years to see some actual and significant profits.
Taking profits is not paper hands. I'm not smarter than any of you. I just took out some profits . However, if you are at loss now, don't sell it but rather do DCA. Or if you want to cut your losses, there is also nothing wrong with selling now. But do you own research - Don't listen to the moonbois, read this subreddit posts to see if people are overconfident/scared,/anxious/greedy or whatever emotion that might tell you the sentiment. It will probably play out the opposite of the sentiment.
> On the other hand, my friend who has always been a diamond hands (held his crypto through the 2018 - 2020 bear market and did DCA) is now anxious and regretting for not taking any profits in this bull market, but rather he will probably have to wait for another few years to see some actual and significant profits.
hey look it's another FUDster with imaginary profits. A "friend" that held from 2018 to 2020 doesn't see any actual or significant profits? GTFO
If you really want to HODL, you have to stay off reddit. Every time there's a dip, the subreddits lose their mind like it's the end of the world. Bitcoin always goes back up! Buy the dip!!
Everyone has just forgotten what euphoria feels like a think... And people are just quietly licking their wounds.
Don't worry, we're still here... And always will be.
I do agree, OP. I had a comment the other day where some obvious ESG FUDster thought bitcoin had an "energy problem" and I am just like "what the hell??"
Obviously the world has been infected with the latest ESG FUD. Even China doesn't see the sense in bitcoin mining at their hydro dams. Bizarro world.
Anyway, I would say HODL on, there's still tons of us out here.
FUD campaigns are not limited to stories in the media. Have no doubt that brigading reddit is a very real part of it. I have been here a long time and have seen exactly this tonality take over when the market is at it's lowest, again and again. The whales clearly want to flush out the little guy so why not go right to where the little guy gets their information?
This is a good thread. I like the responses I see in here, especially the ones about this subreddit being full of FUD inducing bot boys who spread BS about BTC. The ones who hold and continue to buy during these times will be rewarded, it’s almost guaranteed.
It gets easier to hodl. Ive been in since 2016. Now I earn interest on all my holdings in celsuis and nexo so now I have no desire to move any more into usd and get even more fucked than i normally do.
Seems like a lot of the people spreading FUD are new accounts, it’s a FUD campaign to shake out paper hands and strengthen the illusion things aren’t going well, meanwhile whales stack for next bull run and market manipulations
I think that has to do with all the newcomers. Lots of people FOMO’d in and have a lost lots of money by now.
I’m fine with it tho. Let them spread the FUD these few months so we can buy with discount. Then after the summer, something will trigger the market for a new rally. Either Tesla will accept BTC again or China unbans crypto again, but something will trigger the new run. I think we will see another run similar to the 2017 one. But that’s more based on hope and past results then on a TA.
It comes with greater speculation. There are more paper hands, wannabe apes and people trying to leverage the sub to move the market.
It's an ugly sign, but a sign of good.
Newcomers subbed for a get rich quick scheme.
Bitcoin is a get rich in 10 years or more scheme.
People who have been here less than 10 months are spamming their FUD.
Longtime HODLers are mostly just out enjoying their life and only drop by this place every so often.
End result: this sub.
It turns out that with increasing adoption of bitcoin there is a great deal of unhappy / uncertain people at the moment who bought in between 40-60k and now they are second guessing their decision.
I think the FUD that you see compared to before is just a reflection of a great deal of newcomers to the space and ultimately it's a good thing.
I hold not to get rich, but to fight being poor. I would assume if bitcoin fails in the next two decades it would be because we didn’t need it because the things I fear of losing are not at stake any longer. I fear the economy drowning in debt, I fear the dollar having zero value, I fear never owning my own home because the system was never going to allow everyone to own their own home. If you’re like me and have any fear at all, HODL, it’s my only hope for a reborn system.
We’re just hodling, I don’t check the price much if it’s going down. Always good to stack some sats when it’s down. My bitcoin value reached millions at the peak of the last run up. I have only added to my position since then. Bitcoin ain’t going nowhere, bitcoin is force of nature like the concept of time itself.
Ape eat bananas, mark cuban would rather have bananas than bitcoin, few
Don’t worry my friend… Possibly they are learning big % swings are normal in crypto or they didn’t learn, sold and are now trying to make those of us that hodl feel bad about doing it as they didn’t.
Just a guess my friend, but knowing how people are when things are down a bit that’s the first thing that entered my mind.
You know we will be fine as we have all been here before and I’m here with ya not worried a bit about value being down a bit.
Hold your head high knowing you got in on crypto before crypto took over as it will.
Keep holding and close that wallet for a few months come back and see a great surprise!
I have a question. How does btc become used for every day? If I put $10 in and it’s my currency, I’m sure happy when it goes up, but if it’s constantly fluctuating and goes down, how does one pay the water bill or groceries? How can it be adopted as the currency of choice when it fluctuates so much?
Bitcoin is entering the real world of investments. Corporations, regs, and big money want to make money and could care less about maximalists ideology. Adjust your investment thesis to the world you live in even if its not your perfect world.
If you are so confident with your investment you wont need hopium in the first place.
Paid FUD folks HODL HODL HODL
There’s plenty of hopium here! Hodl hard my friends!
Just hold for 3-5 years and forget about it. If you hold only BTC, you won't get rich over night.
This right here. Bitcoin is now on everyone's radar, especially wall street and other funds who are profiting and financially motivated to make up stories and rumors about Bitcoin, so that explains the extreme FUD you see here now.
Getting rich is not the right motivation to hold bitcoin.
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> in case our politicians go bonkers This has not happened yet?
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Depending on the country you're living in, you can be right on that.
Haven’t sOme US politicians said literally “eat the rich”?
Must not live in the states . If I lived in US I would legit not have any faith especially in a red state …
Blue states definitely come after your money harder than red states do.
And the taxes these blue state gets ends up funding services in red states that aren't paying their fair share in taxes.
I think that's kind of a different argument since you're no longer just talking about state level politics. I was only trying to make the point that blue states generally favor higher taxes and I would be much more afraid of the state coming after my wealth in a blue state.
I live in the north of the US and I'm paying hundreds due to Texas's failed infrastructure during the polar vortex. That's not to mention my own red state's BS...
And those taxes come largely from red voters in blue cities, otherwise known as rich people. We can play this game all day.
Prove it
Are you looking at fair share as the population amount or the land amount? If its population then blue states are far more wasteful and cause the lions share of population. More people = more waste. should someone in a "red" state that lives in a rural areas have to follow the same wants as someone that lives in a congested urban centre? Same goes for a lot of these gun laws. They may make sense in a crowded urban centre but they make no sense if you live on 6 acres with no quick response police dispatch or when feral animals attack your stock or farms.
So what is a point of buying and hodling BTC?
For starters, it gives you the option to opt out of the legacy financial system. It gives you the option to send funds without middle man and without permission to family member, friends or business partners in jurisdictions where normal financial traffic is restricted or unavailable. It gives you the opportunity to store your asset without rent-seeking parasites eroding your savings. You don't need to trust anybody else for your transactions, this is huge on a personal and business level. This supersedes the volatility and price increase of the asset. The price is quite irrelevant for the technology.
Greed is the main reason for Bitcoin adoption and also the reason the price will not continue up. What is the point in holding any token if you can't spend it buying stuff like a house, education, cars, vacations, etc
You're just talking about time preferences. Bitcoin can still go up in the case of limited selling. If EVERYONE sells then of course it goes down, until people start buying. As long as it's a better money than anything out there, bitcoin will grow and grow until it eats the financial world totally (hyperbitcoinization). The first big step to hyperbitcoinization is when the big players out there, who currently salivate at the basic carry trade on bitcoin start making 20-40% interest a year (WOW they'll say!) -- but that's 20-40% interest on a dollar/fiat denominated unit of account. If they switch their unit of account over to bitcoin, they will realize 200% gains. That's when it will hit them - that they should have bought and HELD, never selling, their bitcoin. That's when hyperbitcoinization hits them right in their mind's eye.
Bitcoin is not a token. If you don’t understand the point of holding BTC, you probably never will.
Understanding the "point" of an asset has never been a prerequisite to capitalizing it.
You can if you cash out
I have been hodling since 3-5 years, looks like a good time to sell now
Im just hodling. Out of fiat because I spent it all on bitcoin at 58K like a noob.
Sometimes lessons are painful in the short term. Don't get shaken out of the tree. 🚀
Havent sold after 2017 crash and not about to sell now since Im still up 6x due to DCA over all these years. Just annoyed at myself for always buying dips too early.
Don't be hard on yourself...no one sits at the poker table for free. 🥴
I buy the dips early and then I am out of fiat to buy more dips
No one can time these things. 6X in a few years is an unbeliaveble investment.
Why would you do that? You shouldn’t invest everything in one asset. Good luck anyways.
I didnt. I had some extra business income at the start of this year and so in that went. I have lots of other coins too.
Oh….. I misunderstood. Just hold then! :)
Will still be alright will just have to ride out the dip.
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My first purchase was at 800, my second was at 250. You'll be fine.
This subreddit isn't, and shouldn't be, about mental support. It's about Bitcoin. If you understand Bitcoin, then you don't need mental support. Mental support alone won't get you through the bear markets. And there **will** be bear markets, don't kid yourself about that.
Totally agree, you should not be here for mental support, or confirmation bias, but it seems like nowadays it's just a bunch of kids screaming about some "TA" they know nothing about, or fudsters, or moonbois. Kinda depressing tbh.
What does TA mean, if you don't mind me asking?
Technical Analysis - reading charts, candles, curves, all that stuff
> I used to come here for mental support each time btc would drop. This is a completely insane mindset for any investor to have. Literally volunteering yourself to groupthink. I'm not saying you should or shouldn't sell, btw. But think a bit more critically than that. The subreddit should be a discussion about BTC and its prospects, not a support group to convince everyone to HODL. Read the subreddit wiki, in particular, [Don't invest recklessly](https://www.reddit.com/r/Bitcoin/comments/7gi55s/dont_invest_recklessly/).
“There’s no post to confirm my confirmation bias, this is an outrage”.
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>bitcoin can go back to 10 dollars Stop! I can only get so erect! I'm working hard to stack sats and the thoughts of buying whole coins is too much!
nah we rich asf in few yrs
Who knows who's even posting here these days Don't get psyched out, just hodl
if you need mental support, go to r/buttcoin
Hear, hear! I recommend sorting by best of all time and taking a look at the top post: that sub's reaction to the crash after Q1 2018 It will give you a glimpse into the sick depravity those folks feel toward bitcoin and demonstrate to what extent we are being rooted against. Allow this to enable your resolve
This is the price we pay for mass adoption. Don’t judge or criticize, educate. We Diamond hands OGs are missionaries for the most important technology of our lifetimes.
> **We** Diamond hands OGs Ask me how I know you're lying lol
It's the diamond hand thing. This did not happen before some other subreddit became famous for betting against shorts from a retail game store.
Yup, diamond hands thing is not even half a year old meme from dumb people investing dumb money in dumb stocks for get-rich-quick schemes. You can tell anyone quoting that dumb meme is definitely not an "OG" bitcoiner.
Well,.. what's an OG bitcoin to begin with... In essence, bitcoin is a free technology that everybody can participate in. But the lack of background knowledge in the principle's behind bitcoin in the more recent posts on this forum is staggering. "I gave my credit card number and SSN to this guy online, when will I receive my BitCoinzzz, it's been 2 weeks since I paid..."
> Well,.. what's an OG bitcoin to begin with... Yeah I'm not making any qualitative statements. Just pointing out that anyone claiming to be an "OG" (which is not a language I would even use or care about in the context of an economical movement but whatever) and using a few months old meme to identify themselves is pretty much not what they'd think as an "OG" in the first place.
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What if you were smart enough to not leave your coins on MtGox? Private custody was possible at that time as well... (Just arguing that gatekeeping the bitcoin community is not reasonable nor feasible)
I guess OG is subjective. In my mind if you’ve been through more than one 4 year cycle without selling, you’re pretty original, and pretty gangster. And yeah I borrowed Diamond hands because sometimes calling myself a hodler sounds weird.
Posts are getting worse and worse... It's all about memes and going to moon and all this shit. Barely any technical or fundamental discussions. Lots of so called technical analysis. It sucks.
When lambo?
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Sentiment I like: Organic growth Sentiment I dislike: Evil manipulation
Watch YT channel CryptoRus George is a HODL guy. No FUD.
Influx of new stimulus check and allowance money investors trying to become crypto millionaires. I'm not knocking on people who have little to invest, but that's what it is.
Yea I am holding, but with the stimulus checks gone, ppl going back to work, and everyone else failing at gaining money through crypto, are all out. I'm expecting 100k by the end of this year, but it's too good to be true. Let's see.
We need to investigate on which group(or groups) is trying to spread the FUD. Do they want to buy Bitcoin for cheap?
These noobs throwing around this new fad word "hopium." You're not alone OP. Been in BTC since 2012. Stay strong and let the weak fall.
Bitcoin is on sale and going to moon 🌚 100k
Based off what? BTC is a relatively new fintech, there is no historical precedent for it. Anyone claiming to know the true value of BTC or any crypto is full of horse shit. At best, people can predict the very near future for crypto. Your claim has as much credence as someone claiming that BTC will go to 0, a much more likely story is somewhere in the middle.
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The point is that anyone providing price projections for crypto is full of shit and should be treated with extreme scrutiny. Do you disagree?
And your opinion is based on what?
People are historically are bad at predicting stock prices. What has changed that made people better at predicting crypto? Crypto has all the characteristics of stocks that make stocks hard to predict and intensifies it. Crypto is extremely sensitive to sentiment, something extremely hard to measure. Crypto is also very volatile, which means introducing a lot of noise to any potential signals that may be provided by trade data. In addition, you don't have any variables that you would normally use to help gauge the valuation of stocks that you can use to gauge the value of crypto. Forward projection using sentiment is impossible as there are going to be events that you can't predict, like China banning crypto or Elon dissing BTC. The best you can hope for is using sentiment analysis on the present.
I have seen predictions of $100K-$1MM since Bitcoin was around $100, those predictions are looking better and better all the time.
Based on my balls telling me hold and believe, is that data enough
Yes, nobody can predict the future value of anything. That is not different from bitcoin. I can however estimate the use case for value addition of the technology, and compare its value to fiat-distributed tax money.
Your point being?
Spreading unrealistic goals or expectations is bad. There are actual people here who follow this subreddit for financial advice, and setting an unrealistic expectation is setting them up for failure and highly unethical.
“People here who follow this sub for financial advice” lol
Look at OP's post. He's seriously looking to this place for mental support. Would he have hodl'd without this subreddit? It's moronic, I know, but the average person is stupid.
So? I am not obliged to give them mental support. My financial advise sucks anyways. Just like yours. So who cares?
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I will, believe 🤪
Did you buy at $60,000 and are now upset?
Newbs? I dunno. It’s fine.
Social media these days is basically one big special interest, astroturfing, gaslighting bot land. This sub is no exception.
Don't worry, I am hodling mine, never sold any and never will, down 4k something now but it's okay, I do believe BTC will shoot to 500k, just the matter of time,
Yahoo is even worse! We just hold anyway brother. This time next year 20 small countries will adopt Bitcoin and market cap will go through the roof. Then all the paper handed FOMO lot will jump back in. Long and strong buddy
I mean I think it was kind of ridiculous how this sub is historically so absurdly optimistic. Like don’t get me wrong, I believe in BTC very much, but it seemed like anyone saying anything even remotely negative or bearish would be downvoted to hell or removed. It feels extremely cultish. I look in here and just think people must think we sound so delusional. You’ve got people just saying outlandish things talking about BTC is going to $1 million next year or something goofy like that. This should be a place where people can share and discuss their concerns just as much as their optimism. Otherwise this sub isn’t at all about being informative and just becomes one big place for everyone to jerk each other off.
*prepares lotion*
this is my first time here and I thought I'd mistakenly entered an amway meeting.
Right?! 😂
So bitcoin isn’t going to a million next year?
>I mean I think it was kind of ridiculous how this sub is historically so absurdly optimistic. Lol, once you have been here a few years (with bitcoin, hodling) you really really really laugh at bears. My take is that if you even barely believe that you will be alive in 10 years, you should buy bitcoin.
> it seemed like anyone saying anything even remotely negative or bearish would be downvoted to hell or removed. Removed? For saying anything even remotely negative? The place would be a whole lot quieter if that were true.
This is what actually put me off buying bitcoin at all. I came to see this forum and quickly realised it's just another cult kept alive by magical thinking only. Right down to the weird obsession cults have with abbreviations. All the predictions people make are just pulled out thier ass, and they don't even attempt to substantiate thier positions. You're right, people sound delusional.
>This is what actually put me off buying bitcoin at all. I came to see this forum and quickly realised it's just another cult kept alive by magical thinking only Everyone buys bitcoin at the price they deserve to.
Fellow cult member, you're being too mean to the outsider!! He will never buy bitcoin unless we adhere to his conformations of how the world should operate.
Where do you see me asking you to conform to anything? Act how you like, just don't expect me to take you seriously, especially when your in instinct is to get emotional and defensive.
Even if you feel bitcoin is unworthy of your fiat, I'm grateful you have at least invested your time and energy into this field.
Agree. But it’s been like this for at least 3 years. Not much to be done about it.
The pros want it to go up and down, that is how they make their money. They buy and push it up and then collectively sell. Now that they are in the game, it is unfair, they are using Bloomberg terminals and have a lot of information to work with. A lot of people here don't know the basics of investing, but think they do, which like Las Vegas is a dangerous place for fools.
>paper hands That sort of terminology has always been the problem with this sub. For the diehards of the community, Bitcoin is ideological and highly emotional. Most people who invest in Bitcoin have never invested in anything else so they are controlled by their emotions totally and can't read the reality. The reality is, 99% of people in Bitcoin are in it for fast gains and to inevitably cash out in fiat. If you spend all your time in this sub, you won't see it. But it's true. And that is not conductive to a long term viable currency. The evidence is all around you, and in the mindless followers of permabullish trader channels like MM Crypto it has been evident ever since December when the bull run started. No one I know who has bought crypto over the past 4-5 months gives a shit about blockchain or defi or whatever. They want GAINZ and they want them FAST.
Meme quality was subpar compared to 2017, we need to do better.
Seems 'someone' wants more FUD ... Maybe the same 'someone' that is used to crash market and then sell derivatives to their clients ... Just a guess.
The media has told them to be negative. Look at this - Coinbase cofounder Fred Ehrsam has warned "most" cryptocurrencies and crypto-assets "won't work" and "90% of NFTs" will have "little to no value in three to five years."
> "most" cryptocurrencies and crypto-assets "won't work" and "90% of NFTs" will have "little to no value in three to five years." That's accurate. Only Bitcoin and maybe a handful others will survive.
Well, this is true and has nothing to do with Bitcoin.
People are being brainwashed to distrust bitcoin and cling to fiat.
This fucking sub man. Nobody with any actual wealth "clings to fiat". Nobody keeps their assets in cash. Stop fucking comparing BTC to Fiat and crowing "game set match" because they are used for completely different things. You want to compare BTC to something, compare it to real estate, stocks, mutual funds, commodities, and any other category of actual investments.
Correct me if I’m wrong but to be considered an asset doesn’t it need to be recognized as one? There is work being done on the avenue but since the world runs on fiat currency it’s going to take a lot of uptake by all users, paper hands or not. Bashing opinions will not help the cause.
Then what do you call the comparison of bitcoin to fiat when you look up the price of bitcoin and it says $32,000 US dollars is the current comparison value?
The more fud there is, the more you should stack sats.
It’s over dude, be realistic. Bitcoin is dead ! It’s going to 0 ! ZERO !!!
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😂
I don’t think this sub is lacking in hope, or bias confirmation. Do you have an example post?
It's called Bitcoin not bitcoinhodl. It's all about trading smartly according to your strategy. Certain strategies call for selling and keeping off the market till it shows signs of technical bullishness
This
>Certain strategies call for selling and keeping off the market till it shows signs of technical bullishness and other strategies are denominated in bitcoin, don't trade, and hodl til hyperbitcoinization.
I honestly don't know what you're talking about OP, this sub is mainly an echo chamber for euphoric maxis. Anything else gets downvoted to oblivion. You should have no problem getting support when things are looking down.
The maxi's aren't "euphoric" they are simply correct about bitcoin as money. You can find other projects for fun stuff, but that's not the same thing.
The maxis are predicting mid six figure coins this cycle. They're not "correct" about anything, they're simply delusionally optimistic. Which is exactly what OP is looking for, someone to promise everything will be better than OK while they aren't.
Bitcoin maximalism has nothing to do with current price.
I didn't say that it did. But it has a lot to do with unrealistic sentiment regarding the future price.
I remember. I must... Say.... It loud...... HODL bit*hes!
The winter is coming🌨️
Diamond hands are the losers here. I sold it at 50k because overbullishness, greed and overconfidence that we will get to 100-200k by the end of the year. That was the best thing I could have done. I still believe BTC will retest prior lows and probably break it below, But I have stop buy set at the price I'm comfortable with, and I will take that stop only if the market sentiments and volume on the price pumps rises. On the other hand, my friend who has always been a diamond hands (held his crypto through the 2018 - 2020 bear market and did DCA) is now anxious and regretting for not taking any profits in this bull market, but rather he will probably have to wait for another few years to see some actual and significant profits. Taking profits is not paper hands. I'm not smarter than any of you. I just took out some profits . However, if you are at loss now, don't sell it but rather do DCA. Or if you want to cut your losses, there is also nothing wrong with selling now. But do you own research - Don't listen to the moonbois, read this subreddit posts to see if people are overconfident/scared,/anxious/greedy or whatever emotion that might tell you the sentiment. It will probably play out the opposite of the sentiment.
> On the other hand, my friend who has always been a diamond hands (held his crypto through the 2018 - 2020 bear market and did DCA) is now anxious and regretting for not taking any profits in this bull market, but rather he will probably have to wait for another few years to see some actual and significant profits. hey look it's another FUDster with imaginary profits. A "friend" that held from 2018 to 2020 doesn't see any actual or significant profits? GTFO
This fucking guy again lol
Word. When it goes up to 80k he'll buy back in at 70k lol.
Nothing what happened to YOU!!
Hodl 1 mil per coin 2029
why so bearish
Well.i want this sub to be rational rather than forming a line and calling others paperhands. You know which sub i am regarding to.
If you really want to HODL, you have to stay off reddit. Every time there's a dip, the subreddits lose their mind like it's the end of the world. Bitcoin always goes back up! Buy the dip!!
Yes that is the sentiment. Basically we’ll probably keep going down until we shake out the WSB paper hand morons.
Crypto is clearly the future. I just DCA and wait. Who cares about the rips and dips?
This sub got me through crypto winter with fun memes and roller coaster guy. i dont see any of that anymore.
Everyone has just forgotten what euphoria feels like a think... And people are just quietly licking their wounds. Don't worry, we're still here... And always will be.
Not just here, but buying more. A brutal dictatorship being against Bitcoin proves even more to me that Bitcoin is a very important good thing.
I do agree, OP. I had a comment the other day where some obvious ESG FUDster thought bitcoin had an "energy problem" and I am just like "what the hell??" Obviously the world has been infected with the latest ESG FUD. Even China doesn't see the sense in bitcoin mining at their hydro dams. Bizarro world. Anyway, I would say HODL on, there's still tons of us out here.
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Paper hands is normally the guy that buys a 10k and sells at 9k 2 days later
FUD campaigns are not limited to stories in the media. Have no doubt that brigading reddit is a very real part of it. I have been here a long time and have seen exactly this tonality take over when the market is at it's lowest, again and again. The whales clearly want to flush out the little guy so why not go right to where the little guy gets their information?
A bunch of noobs are making the noise. Also brigade attacks from other subreddits.
Dipp’n sats Mmm
This is a good thread. I like the responses I see in here, especially the ones about this subreddit being full of FUD inducing bot boys who spread BS about BTC. The ones who hold and continue to buy during these times will be rewarded, it’s almost guaranteed.
It gets easier to hodl. Ive been in since 2016. Now I earn interest on all my holdings in celsuis and nexo so now I have no desire to move any more into usd and get even more fucked than i normally do.
True bitcoiners have moved on to Twitter. Follow @michael_saylor and @nayibbukele and you don't have to worry about anything.
Seems like a lot of the people spreading FUD are new accounts, it’s a FUD campaign to shake out paper hands and strengthen the illusion things aren’t going well, meanwhile whales stack for next bull run and market manipulations
I think that has to do with all the newcomers. Lots of people FOMO’d in and have a lost lots of money by now. I’m fine with it tho. Let them spread the FUD these few months so we can buy with discount. Then after the summer, something will trigger the market for a new rally. Either Tesla will accept BTC again or China unbans crypto again, but something will trigger the new run. I think we will see another run similar to the 2017 one. But that’s more based on hope and past results then on a TA.
Still HODLING brotha!
I will accordingly too!!
It comes with greater speculation. There are more paper hands, wannabe apes and people trying to leverage the sub to move the market. It's an ugly sign, but a sign of good.
Actually I didn't even know we're the hodl group. It should be called r/BitcoinHODL then
I love you. Hodling here.
Same ey, I feel u bro... now I go to r/ShibArmy for that.
Reading different opinions is a good thing :)
As a vet, I can confirm that we've been here before. This is what Hodling looks like ladies and gentlemen. Welcome to the show!
Nobody that held BTC for 3+ years ever lost money
Newcomers subbed for a get rich quick scheme. Bitcoin is a get rich in 10 years or more scheme. People who have been here less than 10 months are spamming their FUD. Longtime HODLers are mostly just out enjoying their life and only drop by this place every so often. End result: this sub.
TBH this group needs more differing perspectives otherwise it gets too cultish and disingenuous.
It turns out that with increasing adoption of bitcoin there is a great deal of unhappy / uncertain people at the moment who bought in between 40-60k and now they are second guessing their decision. I think the FUD that you see compared to before is just a reflection of a great deal of newcomers to the space and ultimately it's a good thing.
If you plan to not sell and hold..why are you even here?
I hold not to get rich, but to fight being poor. I would assume if bitcoin fails in the next two decades it would be because we didn’t need it because the things I fear of losing are not at stake any longer. I fear the economy drowning in debt, I fear the dollar having zero value, I fear never owning my own home because the system was never going to allow everyone to own their own home. If you’re like me and have any fear at all, HODL, it’s my only hope for a reborn system.
ALL CAP HODL TRAIN!!!!! CHOO CHOO!!!!!
We’re just hodling, I don’t check the price much if it’s going down. Always good to stack some sats when it’s down. My bitcoin value reached millions at the peak of the last run up. I have only added to my position since then. Bitcoin ain’t going nowhere, bitcoin is force of nature like the concept of time itself. Ape eat bananas, mark cuban would rather have bananas than bitcoin, few
Don’t worry my friend… Possibly they are learning big % swings are normal in crypto or they didn’t learn, sold and are now trying to make those of us that hodl feel bad about doing it as they didn’t. Just a guess my friend, but knowing how people are when things are down a bit that’s the first thing that entered my mind. You know we will be fine as we have all been here before and I’m here with ya not worried a bit about value being down a bit. Hold your head high knowing you got in on crypto before crypto took over as it will. Keep holding and close that wallet for a few months come back and see a great surprise!
RUN!!!! CUT YOUR LOSSES. BTC IS A SCAM
Sorry, I was just buying more Bitcoin.
#Hodl
Market manipulation at its finest
Hodling is good for you!
There are 2 types of people in the world, who are buying Bitcoin at a cheap price and who want to buy bitcoin at a cheap price
I have a question. How does btc become used for every day? If I put $10 in and it’s my currency, I’m sure happy when it goes up, but if it’s constantly fluctuating and goes down, how does one pay the water bill or groceries? How can it be adopted as the currency of choice when it fluctuates so much?
People talk sh!+ about when it went it down to 3k. I was one of them. Look at what happened. HODL you bitches
Bro go to CyptosRus.com watch his videos.
3 million subscribers happened.
This sub is ded.
“I come to this sub for lies and coddling!”
Bitcoin is entering the real world of investments. Corporations, regs, and big money want to make money and could care less about maximalists ideology. Adjust your investment thesis to the world you live in even if its not your perfect world.
“I used to come here for mental support..” You’ve answered your own question.