Thanks, it's rare that someone agrees with me :-)
I think half the time people trade crypto just to boast about how many different coins they have, because they sure as shit aren't making any money from it lol.
Nice to see some 'sensible' people for a change ;-)
We live in a funky stage of crypto where boasting and immaturity is the norm. Am I perfect no, but there are core principles that can be applied to all aspects of life one of them being humble.
With that you will never find yourself overextending and out of position.
I think it's because a lot of crypto traders are young and lazy, and think it's an easy way to 'get rich quick' :-)
Agreed. Most have never eve attempted to open a Econ book. Not saying you 100% need to, but some kind of background would help
I know, even just some sort of basic knowledge of maths or economics would be useful.
One thing I ask a lot, especially when people are claiming "Bitcoin to $100K by the end of the month !" and crap like that, where exactly is the money coming from ?
I think I calculated before that for BTC to reach $100K would require another 2 trillion dollars to be injected into the market. People think the price will just go up to that level because they wish it to and nothing else, lol.
As I said before, I fear just like Forex, and all the other asset classes that people trade, over 90% are going to blow up their accounts and go bust. I don't see why crypto should be an exception, especially when most people trading it have never traded anything before.
Sorry, I'll stop ranting now :-)
Keep on ranting.
My vision for cryptowas to see the largest transfer of wealth the world had ever seen, and it happened. It’s just that the transfer was from paper to crypto 😅. We literally had the head start and gave it back to the elites due to our lack of awareness.
If you spend even 20min in some of these telegram groups you will see that the masses are totally outmatched.
yes, as soon as the market caps start approaching the same size as FIAT currencies you'll see the largest transfer of wealth the world had ever seen, from retail traders to institutional traders :-) lolol.