"One day every one will own mobile phones/sugar/bitcoin" update
Updated
They were very right about sugar. Since the 70s-80s, sugar consumption went absolutely ballistic, people became complete addicts as the substance is addictive and creates cravings for more, and add to that the idiotic advice clown "experts" gave to every one "fat bad fat make disease fat make you fat" so people felt good about droping fat food and adding sugar and businesses added tons of sugar and so on, world consumption went from 75 million tons in 1975 to 150 million tons in 2007 according to some source, this seems to agree with other data about per capita consumption I have seen. The pre 1975 increase did not stop, it actually followed the same trendline as previous, with world consumption growing at a sterady rate.
Buuut production simply grew too (actually prices are so cheap US producers get free money from the government), more people growing sugar, better tech so fields produce more, increased planetary CO2 levels that cause canes to grow faster stronger bigger better.
Right about demand. Rekt anyway :)
They were oh so right about mobile phones. Now every one even in mozambique owns a smartphone. Too bad Nokia isn't the only company making phones and they didn't find the huge success every one was dreaming of just because they had a few popular phones at the time. It reached a peak share price of $62.50.
At its peak Nokia was valued $300 billion. Microsoft bought the mobile phone branch which they later sold to a finnish company for £350 million. Nokia itself is valued around $15 billion, the share price never went back to ath and is now $2.75. Nokia never became this huge trillion dollar behemoth investors were hoping.
I was in high school in the 2000s, I remember the FOMO and every one wanted a nokia phone and was a snake expert (the garbage game that was on the phone).
In a cruel irony twisted outcome, Apple DID become the trillion dollar mobile phone behemoth :) REKT! Double rekt! Multi kill rekt! Hahaha!
Maybe the plebs are right about imaginary electronic money? No reason why it does not continue to develop itself.
But will bitcoin become a trillion dollar behemoth? That ridiculous ponzi? No way xd
"Experts" that work in crypto have a conflict of interest and want you to buy and really know finance well (like sargent pompliano that has no clue self proclamied expert), claim that it is really big and taking over and bla bla bla same old same old.
I piss myself when I see something like this from CNBC with POMP face on it "A crypto expert explains why bitcoin is a good hedge against global turmoil" I just die xd
Ian Balina that is a complete clown is "an expert". The high school dropout kid that bought crypto at 13 is an expert too, he is legit giving speeches with a public of hundreds of clueless idiots, he gets invinted to ted talks, to cnbc, and more. A dog on Twitter is an expert because he bought crypto in early 2017. Dozens of "finance guys that run hedge funds" are all of a sudden experts. People actually fall for this.
You're an expert! And you're an expert! And you! And you! Every one is an expert!
As an expert myself (I hold a title of engineer in electronic payments technically I'm an expert & I have a stronger claim to the title expert than any of them) I advice every one to stay away from this ponzi.
This clear ponzi scheme will continue its sucker rally, and have many more. But it will go down.
I completely expect another "BULL MARKET IT BACK" situation as explained here...
Follow the coronavirus & global situation...
Going to take a couple more months imo to be able to see it happen, and crypto investors get the burn they deserve.
If every thing (with global fears and spx500 and btc price action) goes as planned there might be a buy, althought maybe not if it's like 2018-2019 (where to enter? on a breakout? just fomo in blindly with no sotp? haha this is what noobs recommend and they are persuaded of being right).
A "bull market is back" short around 10k would be lovely! Maybe won't go that far, maybe will go higher, we will see.
Buuut production simply grew too (actually prices are so cheap US producers get free money from the government), more people growing sugar, better tech so fields produce more, increased planetary CO2 levels that cause canes to grow faster stronger bigger better.
Right about demand. Rekt anyway :)
They were oh so right about mobile phones. Now every one even in mozambique owns a smartphone. Too bad Nokia isn't the only company making phones and they didn't find the huge success every one was dreaming of just because they had a few popular phones at the time. It reached a peak share price of $62.50.
At its peak Nokia was valued $300 billion. Microsoft bought the mobile phone branch which they later sold to a finnish company for £350 million. Nokia itself is valued around $15 billion, the share price never went back to ath and is now $2.75. Nokia never became this huge trillion dollar behemoth investors were hoping.
I was in high school in the 2000s, I remember the FOMO and every one wanted a nokia phone and was a snake expert (the garbage game that was on the phone).
In a cruel irony twisted outcome, Apple DID become the trillion dollar mobile phone behemoth :) REKT! Double rekt! Multi kill rekt! Hahaha!
Maybe the plebs are right about imaginary electronic money? No reason why it does not continue to develop itself.
But will bitcoin become a trillion dollar behemoth? That ridiculous ponzi? No way xd
"Experts" that work in crypto have a conflict of interest and want you to buy and really know finance well (like sargent pompliano that has no clue self proclamied expert), claim that it is really big and taking over and bla bla bla same old same old.
I piss myself when I see something like this from CNBC with POMP face on it "A crypto expert explains why bitcoin is a good hedge against global turmoil" I just die xd
Ian Balina that is a complete clown is "an expert". The high school dropout kid that bought crypto at 13 is an expert too, he is legit giving speeches with a public of hundreds of clueless idiots, he gets invinted to ted talks, to cnbc, and more. A dog on Twitter is an expert because he bought crypto in early 2017. Dozens of "finance guys that run hedge funds" are all of a sudden experts. People actually fall for this.
You're an expert! And you're an expert! And you! And you! Every one is an expert!
As an expert myself (I hold a title of engineer in electronic payments technically I'm an expert & I have a stronger claim to the title expert than any of them) I advice every one to stay away from this ponzi.
This clear ponzi scheme will continue its sucker rally, and have many more. But it will go down.
I completely expect another "BULL MARKET IT BACK" situation as explained here...
Follow the coronavirus & global situation...
Going to take a couple more months imo to be able to see it happen, and crypto investors get the burn they deserve.
If every thing (with global fears and spx500 and btc price action) goes as planned there might be a buy, althought maybe not if it's like 2018-2019 (where to enter? on a breakout? just fomo in blindly with no sotp? haha this is what noobs recommend and they are persuaded of being right).
A "bull market is back" short around 10k would be lovely! Maybe won't go that far, maybe will go higher, we will see.
Note
According to the "No. 1 Bitcoin writer on Quora worldwide" Bitcoin should have gone up and had the worse crash in 7 years and second worse in its history not because of covid19 which he says is benign, but because... of a RUSE.Ah yes, the conspiraccceeeeh!
Watch out, institutions want to buy cheap :)
Expect another "ruse" this year ;)
And then another next year, and another.
I predict a whole lot of "ruses" from -60% in 10 days to -80% in 3 ;)
Note
Imagine being a Bitcoin investor and whining about a little 40% single day drop and acting like you went throught so much.
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