I definitively quit Bitcoin. And all crypto.
Updated
I need money. I got scammed hard. The biggest scam of them all.
"You have to go to school and then find a sheep wageslave job". I had no internet connection and no way to find an alternative, and I needed a roof and food...
Scammed. Now I am pretty much starting from zero. Same spot as a teen 15 years earlier. What a scam...
I cannot go back in time but I can NOT WASTE MY TIME ON A SLOOOW PONZI SCHEME. I would like to have money before 40 yo.
At that rate I'll die of old age before being able to live my life the way I want to. No thanks! Best performing asset lmao what a bunch of tools!
I will still post about BTC sometimes and laugh at how dumb it is. Speculators taught us for hundreds of years how dumb money was thinking, and Bitcoin is the ultimate dumb money market where everything they said is blatantly visible. On a curiosity and education perspective it is still interesting to look at this ponzi.
That's it.
I need money. PONZI/USD is the worse way to make money. It sucks.
Anyone that thinks otherwise is a noob (<2yr fulltime?), a scammer, or a moron (or knows a secret).
I had a good run last year as a noob, and during the late 2017 - early 2018 crazy things were even interesting. But it is over. Time to evolve.
Even if the price starts moving hard in september, I am not coming back. 2019 went up parabolic and excited all the amateurs, but it still sucked.
Price retraced on 1.618 2.618 4.236 extensions, but getting an entry took ages, and then the price barely retraced, and took a while. It was just so bad. So boring.
And that is the best we get...
Sure, maybe there are strategies out there that I do not know, but why waste time learning 1 strategy for 1 chart (all crypto are correlated) when I can learn a strategy that will work with 20 uncorrelated currencies? On the 4 hour and daily chart I do not see anything... And I tend to see alot...
Buy when the price is exploding up? Tends to do in 1 direction at a time. But it can retrace alot and the trade often lasts forever.
And let's not forget the immense amout of time it spends in consolidation/weak trends. And I strongly doubt those are predictable and that profitable.
I tried. Waste of time. I'm out. I cashed out of Bitmex. Left 50 bucks xd (0.005 BTC). Maybe I just delete that too, just so I quit wasting time on this, and focus more on making money.
I noted a few of the trades I took (and some I did not) this year:
EURGBP - 8D
GOLD - 3D
EURSEK - 5D
EURSEK - 5D
COPPER - 5D
GBPUSD - 7D
GBPAUD - 3D
EURJPY - 1D
USDCNH - 13D
The average is about 1 week.
Bitcoin? I wait for an entry for ages, and very often the entry is really bad, the move takes ages, I have to risk more to make less (WHILE taking at best 3 times as long).
I also have the choice between (I have to pick at least 2 of those): Unlimited Risk - Gaps - Exposure to Bitcoin & forced to trade - Funding - Lag & site down - risk of exit scam - huge fees.
Wow! Amazing.
And why spend all my time on some ponzi where I will get very few signals when I can look at another asset with many uncorrelated elements and get 50 times as many? It's just so dumb. And when the ponzi goes to zero all that time spent will be wasted.
If I wanted to wait forever I would go for a positive sum game (stocks) and buy with leverage & hold and get dividends also.
BTC is up what like 150% in 8 months? 3% a week? And you had to risk how much? 100%?
There was no double bottom at 3000 so no high risk reward entry, pure fomo dumb money market.
So what would the strategy be here, enter at 4000$ because I am too stupid to look at other markets and I am afraid to miss out?
With a stop loss at what? 2000? Oh how great. Risk 50% of your money, and you need to double, not make 50%, DOUBLE, to make that back.
Makes 0 sense.
If I am going to risk everything I will make soooo much more than a lousy 150% in 8 months on an echo bubble.
Short term sucks, mid term sucks, long term sucks.
Like it or not I am a great speculator and I can make fantastic gains, more than the 1% a week BTC made in the past 10 years and got every casual all excited.
I do not want to use scamcoin to diversify, it just freezes my money for 6 months for no reason and I am more of a 1 sided big bet guy.
At most 3 at the same time (and they last 1 day to 3 weeks but usually 1 week).
There are objectively no reason for me to waste time and get slowed down with this (other than hype but I am not a sheep so not interested).
I may come back when I made it big (if thing is not dead by then).
Until then...
Buh Bye.
"You have to go to school and then find a sheep wageslave job". I had no internet connection and no way to find an alternative, and I needed a roof and food...
Scammed. Now I am pretty much starting from zero. Same spot as a teen 15 years earlier. What a scam...
I cannot go back in time but I can NOT WASTE MY TIME ON A SLOOOW PONZI SCHEME. I would like to have money before 40 yo.
At that rate I'll die of old age before being able to live my life the way I want to. No thanks! Best performing asset lmao what a bunch of tools!
I will still post about BTC sometimes and laugh at how dumb it is. Speculators taught us for hundreds of years how dumb money was thinking, and Bitcoin is the ultimate dumb money market where everything they said is blatantly visible. On a curiosity and education perspective it is still interesting to look at this ponzi.
That's it.
I need money. PONZI/USD is the worse way to make money. It sucks.
Anyone that thinks otherwise is a noob (<2yr fulltime?), a scammer, or a moron (or knows a secret).
I had a good run last year as a noob, and during the late 2017 - early 2018 crazy things were even interesting. But it is over. Time to evolve.
Even if the price starts moving hard in september, I am not coming back. 2019 went up parabolic and excited all the amateurs, but it still sucked.
Price retraced on 1.618 2.618 4.236 extensions, but getting an entry took ages, and then the price barely retraced, and took a while. It was just so bad. So boring.
And that is the best we get...
Sure, maybe there are strategies out there that I do not know, but why waste time learning 1 strategy for 1 chart (all crypto are correlated) when I can learn a strategy that will work with 20 uncorrelated currencies? On the 4 hour and daily chart I do not see anything... And I tend to see alot...
Buy when the price is exploding up? Tends to do in 1 direction at a time. But it can retrace alot and the trade often lasts forever.
And let's not forget the immense amout of time it spends in consolidation/weak trends. And I strongly doubt those are predictable and that profitable.
I tried. Waste of time. I'm out. I cashed out of Bitmex. Left 50 bucks xd (0.005 BTC). Maybe I just delete that too, just so I quit wasting time on this, and focus more on making money.
I noted a few of the trades I took (and some I did not) this year:
EURGBP - 8D
GOLD - 3D
EURSEK - 5D
EURSEK - 5D
COPPER - 5D
GBPUSD - 7D
GBPAUD - 3D
EURJPY - 1D
USDCNH - 13D
The average is about 1 week.
Bitcoin? I wait for an entry for ages, and very often the entry is really bad, the move takes ages, I have to risk more to make less (WHILE taking at best 3 times as long).
I also have the choice between (I have to pick at least 2 of those): Unlimited Risk - Gaps - Exposure to Bitcoin & forced to trade - Funding - Lag & site down - risk of exit scam - huge fees.
Wow! Amazing.
And why spend all my time on some ponzi where I will get very few signals when I can look at another asset with many uncorrelated elements and get 50 times as many? It's just so dumb. And when the ponzi goes to zero all that time spent will be wasted.
If I wanted to wait forever I would go for a positive sum game (stocks) and buy with leverage & hold and get dividends also.
BTC is up what like 150% in 8 months? 3% a week? And you had to risk how much? 100%?
There was no double bottom at 3000 so no high risk reward entry, pure fomo dumb money market.
So what would the strategy be here, enter at 4000$ because I am too stupid to look at other markets and I am afraid to miss out?
With a stop loss at what? 2000? Oh how great. Risk 50% of your money, and you need to double, not make 50%, DOUBLE, to make that back.
Makes 0 sense.
If I am going to risk everything I will make soooo much more than a lousy 150% in 8 months on an echo bubble.
Short term sucks, mid term sucks, long term sucks.
Like it or not I am a great speculator and I can make fantastic gains, more than the 1% a week BTC made in the past 10 years and got every casual all excited.
I do not want to use scamcoin to diversify, it just freezes my money for 6 months for no reason and I am more of a 1 sided big bet guy.
At most 3 at the same time (and they last 1 day to 3 weeks but usually 1 week).
There are objectively no reason for me to waste time and get slowed down with this (other than hype but I am not a sheep so not interested).
I may come back when I made it big (if thing is not dead by then).
Until then...
Buh Bye.
Note
The price is going up so I want to wait before I sell but I better be quick there is more bad news... xdOf course, exchanges are preventing me from cashing out but I know 1 site that will let me sell (anycoindirect).
Lmao Kraken is hilarous I sent a high def pic that they asked with the biggest file size possible and they still say "umm not defined at all try again". I heard stories of other sellers that were ignored blocked, and when they buy Kraken team "too busy" instantly contacts them to congratulate them on their "good decision".
Enticing people to buy and preventing them from getting their money out?
Wow! This does not look at all like a ponzi.
New bad news:
The U.K.'s financial services watchdog has warned potential investors that bitcoin and cryptocurrencies have "no intrinsic value".
And in case you did not know, recently Trump (and pretty muchthe entire US government) have strongly criticized "bitcoin libra & other crypto" and they even called it a national security issue.
Bitcoin trading is:
- Low skill floor
- Low skill cap
- Low potential
- Alot of obstacles
- About to become a crime
I do not think it is going to be worldwide banned in the next 2 weeks, but never know...
I am glad I am cashing out. Yes it is predictable and easy even a monkey can make money with BTC, buuut still it is not worth it (once you are skilled enough).
It is the game equivalent of a noob champ that wins all games or can get fed by pressing 1 button at super low rank (lol Master Yi, Zed R inb4 bronze trash "uuuh zed is skilled you just bad u not a great player like me I am stuck in bronze because bad mates I get a penta with zed every game").
Right now BTC is not moving much, and in distribution, I think it is the best time to get out.
Note
At the time of this update around 95% of comments to this idea just assumed I lost money (wow glad I didn't look too arrogant in my post...) I want to assume they did not read a single word, buuuut when I see how people misunderstand everything I am not so sure....Of these 95%, since assuming I lost money is not enough they also have to pull a totally made up story out of their butts, and assume ON WHAT I lost it, HOW MUCH I lose, and HOW I lost it, some assume I lost some money on alts, others assume I lost on Bitcoin, some assume I lost everything, some assume I lost because of bad risk management some assume I lost because I used high leverage, some assume I lost my money because I kept shorting (and I ended up losing the last of what I had AFTER the price went my way? Not earlier? Ya know, when it was going against me? And also, how am I cashing out if I lost everything? Ok nevermind I don't even want to know that).
So, one more example of what the kind of person invested in Bitcoin/Crypto is.
If you are invested in Bitcoin (and most crypto), you are betting that THOSE people are right. Do you really want them on your team?
Note
Thanks for the kind words from the 2 and a half person out of a hundred haters, but I did not lose anything.This is not TA it is personal but I want to adress it.
When I started trading 2 years ago (after 5 years to become an engineer + 5 years of working) I had 15,000 euros in debt.
After those 2 years, some withdraws to pay bills (quit my job 9 months ago couldn't be bothered anymore) a 1k phone a new PC a new chair a tradingview service a hundred steam games 10 to 100 euros (collectors editions...) a home gym (ok maybe I went a little crazy on the spending), I am now a proud thousandaire!
So yes, I am basically at the same point as I was at 15 or 16 (whatever age you can start working), with maybe a little more money (I could earn the difference in a few months since I lived with dad and had nothing to pay) and a whole lot of useless stuff.
I literally shorted Bitcoin at every top and bought every pennant/wedge breakout.
How would I lose money? Only time I lost money is when I shorted at 4k or so, and I only lost because it took ages to go down & I got hit by Bitmex funding.
No I did not short at 6k I wanted momentum to reverse I repeated it 100 times, price exploded up.
You need to have conditions... Not just go short on a bad day because reasons.
And trades should be prepared in advance. Be ready way before and wait for conditions to get filled, if conditions are not met, no trade.
That people (that do not read if they do I got bad news for them) assume I go short as soon as I post a bear idea (in which I say not to short very clearly) just shows that all this mass of amateurs are not supposed to trade and will learn a harsh lesson eventually.
If you plan on going full time in this... You really have to be sure and have realistic estimates ;) Not like "I'll eat ramen everyday" but "I'll spend like a pig and have slow months". Make sure you have been consistent for a while and have several strategies and ideally can adapt. I am not a proponent of waiting 10 years and being overly careful...
If you are in IT you can find a job easy if things go wrong.
I was a debt wageslave then.
I am a thousandaire now.
Cya at millionaire ;)
Note
I will admit 1 thing (if I did not already):When I was losing my mind waiting for Bitcoin to just do something/give me my entry I, several time, took some really bad coinflip trades (which I all have lost of course), just could not stand waiting and not making any progress.
So this makes it even worse.
There are millions of activities out there and in speculating alone there are a lot of possibilities.
Don't have the patience? Try something else.
There are people that day trade BTC but I have my doubts.
What do they do when it moves super slow and random?
There are tether wicks all the time.
I have not met any that were consistently profitable, are there? They're selling services?
What Philakone maybe? Haven't checked.
Anyway just looking at BTC chart it is very evident that it is geared more towards longer term swing trading and even holding. The people making money are either multi month swing traders (or at least a few weeks) and "hodlers" (not anymore for long term hodlers imo).
Dax forms a new clear trend on the 1/5/15 minutes charts almost every day.
FX just look at a chart it goes back and forth, makes a new trend for 2 weeks, then double bottom, new trend, etc...
Bitcoin has been trending up from February 2019 to June 2019 included (so 5 months) and now it's possibly in distribution and this has already been going on for 5 weeks)
Visually it is undeniable. Tell me USDJPY is not far superior to BTC:
Note
Called the bull break, once again.
Once again I took profit at the bottom on my short and closed it entirely just before the bull move.
According to angry BTC bulls that are totally not jealous, I regularly lose all my money on BTC. I wonder how I accomplish this task while always being right XD
We are at the top of the downtrend channel, but I think - after potentially some consolidation - the price will go up.
My Bitcoin is waiting on Kraken, I do not need to sell it just yet.
Anyway IG, the broker to which I wanted to send real money, has not transfered my account to IG europe yet (with brexit and all), so I am not in a rush.
Before selling my Bitcoin I will wait for 13500, unless the price drops before that.
Probably will sell at the top as usual, before I cash out.
I keep winning and they keep staing mad.
LMAO! I am laughing so hard! At the cowards that laughed at me for calling this a sucker rally and ended up going short at 10000 after the price dropped and told me because they feared the backlash. The sheep shorted the bottom when I was flipping back to long and closing my short. Rekt again.
I will keep being 5 steps ahead, they will keep selling bottoms and buying tops, and they will keep looking for revenge against me because of high jealousy.
They got so desperate for revenge they had to make stuff up! Pathetic!
Stay mad & stay bad.
Note
UNITED NATIONS (Reuters) ―North Korea has generated an estimated $2 billion for its weapons of mass destruction programs using “widespread and increasingly sophisticated” cyber attacks to steal from banks and cryptocurrency exchanges, according to a confidential U.N. report seen by Reuters on Monday (today - 1 hour ago I think).Check Mate.
WHAT DO I DO NOW? SELL NOW? WAIT FOR 14K?
I AM SCARED. CAN THE WHOLE UN BAN CRYPTO OVERNIGHT?
Note
Remember this boring chinese remini chart I have been posting to show people they were similar but better opportunities than Bitcoin?Well guess what? The Yuan is again getting hammered against the usd for the past 2 weeks. It's at all time low since then.
But worry not! People in china can run to safe havens! LIke Bitcoin.
OH BUT WAIT! Bitcoin is not a safe haven! It is a ponzi scheme.
And this is why it is being traded at a 2% discount in china since the yuan exploded to all time low.
R
E
K
T
Note
Yup. As expected. I am still fighting a battle to get MY money back!It was unbelievably easy to BUY Bitcoin almost instant, but getting my money back?
That's damn near impossible. I have to fight and fight and try and try.
Clear Ponzi scheme. And it will get worse.
I will NEVER come back.
I warned people.
Note
It's over. I have access to over 100 leverage with limited downside.I will NEVER touch Bitcoin again.
Since I posted this idea, 3 months ago, Bitcoin has barely moved. It chopped up and down a bit and Bitcoin bagholders are tightly attached to their chairs stressing out. Price is still roughly the same.
Have fun with your god awful ponzi.
Wait another 3 or 4 months, maybe the price will move then. HAHAHA.
I am still interested in currencies, I posted some ideas about Bitcoin not about the price. Interestingly they didn't get 1/100 th the interest ideas about the price have had.
"I'm in for the tech" Puahaha!
Keep hodling to make 100% in 3 years with infinite downside!
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