Crypto (btc) is not for the weak - page 3.

knowngunman

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Quote from: serjent05 on January 01, 2023, 05:01:37 PM

Quote from: BlackBoss_ on December 31, 2022, 07:08:18 PM

Crypto is not Bitcoin and Bitcoin is one of cryptocurrency. The title is not correct and I think a correct one is Crypto is not for the weak or Bitcoin and crypto are not for the weak.

If you use Crypto (btc), you imply Bitcoin is like altcoins. Fiascos in 2022 started with Terra, FTX and they are altcoins.

Your mindset is somehow refutable. Besides the list is a mixture of Bitcoin and other altcoins calculated into net worth. Another thing see the title, Crypto open and close parenthesis BTC which means the title specifically mentioned BTC among the cryptocurrencies, so what is incorrect with the title?

I deliberately overlooked that response. Some people are naturally created to find fault in everything claiming they know all. They are reluctant to reading for understanding but they rather read to respond. Thank you for schooling him a bit.

serjent05

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Quote from: BlackBoss_ on December 31, 2022, 07:08:18 PM

Crypto is not Bitcoin and Bitcoin is one of cryptocurrency. The title is not correct and I think a correct one is Crypto is not for the weak or Bitcoin and crypto are not for the weak.

If you use Crypto (btc), you imply Bitcoin is like altcoins. Fiascos in 2022 started with Terra, FTX and they are altcoins.

Your mindset is somehow refutable. Besides the list is a mixture of Bitcoin and other altcoins calculated into net worth. Another thing see the title, Crypto open and close parenthesis BTC which means the title specifically mentioned BTC among the cryptocurrencies, so what is incorrect with the title?

It is indeed establish the cryptocurrency is not for the weak because it is obvious that weak hounds are destroyed during the BTC collapse, weak hands are the first people to suffer losses because they panic sell when the price crash, unlike those who hodl strongly and only sell when they have seen good profit. Altcoins in another hand need more stronger hands because the altcoin market is where lots of scams and fraud exist.

KennyR

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Quote from: GreatArkansas on January 01, 2023, 04:40:31 PM

This is the best example for those people who are weak-handed or they are the ones who are more worried or complaining more about Bitcoin which some part is they don't understand how Bitcoin works compared to these billionaires/millionaires.
This is also the best example that I can hodl for the long term, there are a lot of big players that invested heavily in Bitcoin.

This serves to be a learning, the difference is big. People who always want the market to be on the rise and stay bullish can now understand the reality of the market.

We used to hear, whales make use of opportunity and keeps accumulating as much possible. These billionaires turned millionaires for some time period will continue to invest amidst the bearish trend. The common people doesn't do it fearing the loss experienced earlier.

GreatArkansas

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This is the best example for those people who are weak-handed or they are the ones who are more worried or complaining more about Bitcoin which some part is they don't understand how Bitcoin works compared to these billionaires/millionaires.
This is also the best example that I can hodl for the long term, there are a lot of big players that invested heavily in Bitcoin.

uneng

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Well, it's normal these investors are losing money since the beginning of 2022, as we are living a bearish market. Actually everyone here is losing money. All they have to do is to keep holding until the next bullish season. It shouldn't be that hard, especially for wealthy investors who have many other side sources of income and probably don't rely solely in cryptocurrencies for a living. However, it's important to notice at least few individuals on that list had their net worth reduced to zero because they are scammers who stole money from investors, and not exactly because they are "weak hands", so naturally they hid their remaining funds somewhere else or in the name of lackeys.

Casdinyard

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There is no room for weak-hearted people in the crypto industry. I've seen people here suffer a complete liquidation of funds during the worst seasons of the market and are still able to recover most of their funds and their sanity as well lol. But all of this didn't happen just because, they took sleepless nights studying the market, everything about crypto, and whatnot to get rhe most out of the profit potential in this venture. So in reality, not only does this venture require you to have balls of steel, but it also asks you to have the perseverance and patience to learn new things to be rewarded handsomely.

n0ne

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Quote from: Victorik on January 01, 2023, 02:21:26 PM

It is not just cryptocurrency, any form of investment is risky and not for the weak.

Yeah, Every investments have its own risk, and it is quite a pity that so many person lost their money in the past year, but that's part of life. I hope 2023 will bring us better fortune.

Investment is subject to risk and things vary between time according to the market. Every investment have got its peak and bottom. In all means I see XRP as the best, because the valuation have dropped to a small margin. This shows how precise the market is being manipulated.

All that is being mentioned weren't the losses, they are the decline in the valuation of the holdings. This will change when the market turn bullish. So, these are not losses.

Victorik

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It is not just cryptocurrency, any form of investment is risky and not for the weak.

Yeah, Every investments have its own risk, and it is quite a pity that so many person lost their money in the past year, but that's part of life. I hope 2023 will bring us better fortune.

aoluain

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There will always be those who need proof of Bitcoins growth, that proof is most visible
in the market price. Those people are not going to buy now but rather when the price
heads towards the ATH, it's visible then and the thinking of "it's going to keep going up"

Education in Bitcoin is essential really, not just in the technicalities of how it works but
also in the market movements and the effects it can have on the mentality of the "weak"
and "uneducated".

boyptc

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Even if we're truly encouraging everyone to survive this bear and volatile market, still, you can't please everybody with your encouragement.

There will be investors that can't make it because they're having hard time on making their decisions to make. Looking at the market, it's favorable to them specially if it's too low on them.

They might have bought at the top and just lost their enthusiasm towards the market because it's too low already.

fennic

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There could be a reason behind this cause Bitcoin is a things where there all time high and also all time lows will be for a small time frame and we also do not know that what will happen in future.
And also for those who have such large portfolio they exit at some points and also sale higher prices to get their profits. So that they might run their profits too. SBF also lost its own wealth by also scammed many other people who have such higher or lower portfolio. So that's why we should be a high Heart people not just a small hear people.

BALIK

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Bitcoin or any other market, I have never seen the weak win. Even if this is not bitcoin but the stock market, the weak who have no knowledge, or experience and just want to get rich quickly will soon be defeated by the market and the stronger.

In our life too, the weak will often never get what the strong have. So no matter what market we are in, we need to be strong, and to be strong, we need to learn and work hard. Once determined, never give up even though it hurts, fall, always get up and keep moving forward.

Kryptowerk

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Disobey.

It's always easy to make money in crypto during a bull run. The same holds true in reverse, very easy to lose (fiat) money during a recession / bear market.
If you zoom out a little bit and broaden your perspective this ist just normal fluctuation. Nothing much has changed from previous cycles, except the exposure to larger investment firms has increased significantly. This ofc also reflects in bigger losses during the bear-market right now.

The graphic in OP just reflects a "normal" bear market - but it mixes up two things: normal loss in capital due the loss of value of Bitcoin and other crypto assets - vs. - bankruptcy of exchanges and crypto projects due to scam and misappropriation of user funds.

Wildwest

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In investing we must be prepared to face any situation like what is happening today we must stay afloat even though the investment we are living in is experiencing a decline and loss, and for those who have known the crypto world for a long time I think the situation as it is today they can still survive and never panic because they know that big surprises are waiting for the future, and only new investors who are currently experiencing panic when they see the market continue to decline,never sell our assets in a period of loss even though it lasts very painfully but all will feel relieved when bitcoin and altcoins will reach a new ATH.

Jating

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I don't think this investors feared crypto's bear market for this year, I mean majority of them have been here since the 2018-2020 crash so this is not new to them. And I do agree that there is no correlation between Bitcoin and the presentation laid out by the OP, so it's sort of misleading. The events listed is due to the bear market itself that we always suffered because this is how the market operates, so it's cyclical for them, and as the saying goes, sometimes to win, sometimes you lose. So they will take this lose maybe till next year, but then after that, in the next bull run, this individuals will then make a lot of, sort of rebounding from what they are going to right now.

buwaytress

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Quote from: Hispo on December 31, 2022, 08:50:37 PM

Quote from: buwaytress on December 31, 2022, 05:16:22 PM

Wait, come on, someone must have come out on top, no? Every damn Cointelegraph/Coindesk/CoinABC news article about predictions has some "influencer" or "well followed" trader coming out with all kinds of shorts.

I want to see a list of people who started with $1000 in March and is smelling a million in December. OP, make me happy.

Am I the only one who believes that it is more likely that those traders who actually know what they are doing and earn a good money out of it just stay silent and out the public spot, so they can continue to do what they are doing quietly?

Perhaps it is just me, but if I was blessed with good trading skills I would not try to catch people's attention the way some "influencers" do. I would just close my mouth and make more money. Tongue

I believe there is no such thing as a good trader who only earns money consistently from making good calls or at least, it's indeed a tiny, silent minority.

I think the truth is, most traders who make that a living over the years make more profit from selling signals, selling education, or making commissions off those who sign up and/or trader under them, or make commissions trading on behalf of clients.

That's why they need the exposure, the followers, the hype.

Poker Player

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Quote from: pooya87 on January 01, 2023, 12:34:09 AM

First of all there is a huge difference between cryptocurrencies (more precisely altcoins) and bitcoin. The altcoins remain widely useless which makes their true intrinsic value be closer to zero regardless of how much they are worth right now. And that will ensure their long term dump which is what we have been seeing from the day altcoin market was created.
On the other hand, bitcoin is useful regardless of how the minority sees bitcoin or how much money they may lose if they buy bitcoin. The true intrinsic value of bitcoin is high and sometimes like these days it is actually higher that the current price. That ensures long term rise.

Yes, in the end what happens is that we have more than 22,000 shitcoins, and there is more and more shit, and apart Bitcoin. Of the altcoins, I think that in the end by pure statistics some will survive that are useful to the system, but very few, counting that CBDCs will be implemented, which means that those who are investing in these tens of thousands of shitty projects will lose their money, while those who bet on Bitcoin in the long term, not only will maintain the purchasing power but will probably get a higher appreciation than with any other financial asset.

Quote from: pooya87 on January 01, 2023, 12:34:09 AM

Secondly the money that was lost over the years has nothing to do with bitcoin as a currency and it has always been about centralized services (mainly CEX) that are insecure and incompetent to keep their customers' funds safe. Talking about that in this context is misleading.

Well, not only insecure and incompetent, I believe that in some cases they directly intended to defraud even if they deny it, as in the case of Alameda and SBF, which was dedicated to create money out of nothing with a clear ponzi system, in which many people fell for what they usually fall in such schemes: bewitched by the (illusory) profitability.

pooya87

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First of all there is a huge difference between cryptocurrencies (more precisely altcoins) and bitcoin. The altcoins remain widely useless which makes their true intrinsic value be closer to zero regardless of how much they are worth right now. And that will ensure their long term dump which is what we have been seeing from the day altcoin market was created.
On the other hand, bitcoin is useful regardless of how the minority sees bitcoin or how much money they may lose if they buy bitcoin. The true intrinsic value of bitcoin is high and sometimes like these days it is actually higher that the current price. That ensures long term rise.

Secondly the money that was lost over the years has nothing to do with bitcoin as a currency and it has always been about centralized services (mainly CEX) that are insecure and incompetent to keep their customers' funds safe. Talking about that in this context is misleading.

TravelMug

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Every investment is very risk, not just crypto market. It just so happen that bitcoin is volatile as compare to traditional financial market. I think the key word here is risk aversion, rather than saying that it is not for the weak of heart.

Like for example the market is so unique that it is only the one that we have seen cycles, every 4 years, of course every other market has bulls and bears cycle but we have this thing - bitcoin block halving event only happening in a 4 year period.

And with a bear market, everyone is not spared even those billionaires and for sure they know this and they are banking that the next bull run will be huge making X profit again.

Despairo

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Does it's only me who think there's no correlation between the @OP picture and explanation?

Those are different person and they have a different source of income, moreover the people who have $0 net worth at December 2022 is because their own business, not because their investment! Become a businessman is really risky and you need to accept huge losses, it's not about in crypto industry, but every industry.

BTC isn't for weak because we need to hold for long term amount, but if you compare a rich people and an Average Joe about their Bitcoin holding, you're wrong since those rich people can make money very easy and they can take more risk.

Topic: Crypto (btc) is not for the weak - page 3. (Read 527 times)