Crypto, namely BTC, is too easily influenced by a few individuals and non-public whales . Elon Musk can tank a market with a tweet right in the middle of trend confirmation and set off liquidation cascades. And factual on-chain data analysis that ends with guesses (since we don't know if "spends" are "sales" , or if multiple wallets are controlled by one entity) vs. non-factual things like traditional chart patterns that often play out better than the on chain facts make my head hurt.
TA in crypto is about as useful as being extremely smart, extremely lucky and extremely sleep deprived-- In other words, I haven't a CLUE how useful it is. It's right on the money 50% , totally invalidated 50% and 100% very pretty to look at. I'm not any richer or poorer due to it. So yeah. I believe in it when it's right AND I make some money. Rare.
Zukbrg/Meta: Seriously Zuck? You don't have control of enough already? You gotta go and likely ruin anything good that can come of this space? Seriously dude? This is the most personally macro bearish news I've heard since I got into crypto.
I don't think I've ever used "hate" before in print on the internets but seriously I fkin hate... rainy weather. (Not gonna go and get marked by Mark Z by actually saying it, he prob owns this comment box). Having enough liquid cash reserves for 50 lifetimes of antitrust fines and FTC wrist slaps is just perverse.
Speaking of internets, that graph is a rude awakening if it's accurate. I hope it is grossly incorrect. If this whole thing is just a linear predictable line like that on a logarithmic scale, that's just sad. Then no one was early or late to crypto except Satoshi and a handful of others between 2012-2014. And my portfolio is nothing better or fresher than $SPY for the last 50 years. I'd stop studying blockchain and economics and high level finance every day and go get some sleep for once if all I have to look forward to is being a dot on the most boring chart I've ever seen.
I'll regret this, but not a good day. Hopefully I'll come back to this comment one day and laugh. In the meantime I hope some of CIE peeps get a little laugh from it today.
Poll: TA & Charting. Yes* but...
Crypto, namely BTC, is too easily influenced by a few individuals and non-public whales . Elon Musk can tank a market with a tweet right in the middle of trend confirmation and set off liquidation cascades. And factual on-chain data analysis that ends with guesses (since we don't know if "spends" are "sales" , or if multiple wallets are controlled by one entity) vs. non-factual things like traditional chart patterns that often play out better than the on chain facts make my head hurt.
TA in crypto is about as useful as being extremely smart, extremely lucky and extremely sleep deprived-- In other words, I haven't a CLUE how useful it is. It's right on the money 50% , totally invalidated 50% and 100% very pretty to look at. I'm not any richer or poorer due to it. So yeah. I believe in it when it's right AND I make some money. Rare.
Zukbrg/Meta: Seriously Zuck? You don't have control of enough already? You gotta go and likely ruin anything good that can come of this space? Seriously dude? This is the most personally macro bearish news I've heard since I got into crypto.
I don't think I've ever used "hate" before in print on the internets but seriously I fkin hate... rainy weather. (Not gonna go and get marked by Mark Z by actually saying it, he prob owns this comment box). Having enough liquid cash reserves for 50 lifetimes of antitrust fines and FTC wrist slaps is just perverse.
Speaking of internets, that graph is a rude awakening if it's accurate. I hope it is grossly incorrect. If this whole thing is just a linear predictable line like that on a logarithmic scale, that's just sad. Then no one was early or late to crypto except Satoshi and a handful of others between 2012-2014. And my portfolio is nothing better or fresher than $SPY for the last 50 years. I'd stop studying blockchain and economics and high level finance every day and go get some sleep for once if all I have to look forward to is being a dot on the most boring chart I've ever seen.
I'll regret this, but not a good day. Hopefully I'll come back to this comment one day and laugh. In the meantime I hope some of CIE peeps get a little laugh from it today.
Cheers Mark!