Matt,if there is the dump you dream about, I can assure you whale or not ,no one will get anything out of Gox
Only the greedy have stayed in Gox for the higher price, may come and bite thy arse
Gox is irrelevant and finished unless Bitcoin goes to the trend lines
Adjust your mindset and believe in the project or don't gamble more than you can afford to lose.
From your posts it appears the latter applies
My brother just took a few grand out of Gox and took a 20% haircut right away as I converted his BTC to USD on Stamp immediately. I think a lot of the capital fleeing Gox will have the same goal in mind. BTC is in clear bear trend, Gox is insolvent and the premium on getting their capital out is going up by the day.
What you highlighted is very true. I have reduced my Bitfinex leveraged gambling fund to an amount that I don't care about losing (still enough to live on for 6 months). This has cut out a lot of my jitters when day trading and obviously keeping a rational state of mind greatly enhances my performance (cos it is basically like a sport for the mind).
I love shorting Bitcoin!As for the project, don't get me wrong, when I first heard about it waaay back in at it's inception in 2010 (I know it was born in 2009), I immediately thought it was an ultra cool concept offering huge liberalising potential. But that was then and this is now. The problem with Bitcoin is not the original concept (although there can be arguments that their were 'flaws' from the very start, i.e. Satoshi himself owns 12%), but the community that has adopted it and especially the minority that has come to control it. Avarice has taken over from the top down and is now the prevailing ethos in Bitcoin; avarice and delusions of grandeur. The original libertarian values have taken a back seat. So when I say 'I hate Bitcoin' or I 'love shorting Bitcoin', it not the concept that I hate but what people have made it. It has become a cut-throat avarice driven arena that is flooded with idiots driven to a state of wild delusion....the sort of idiots who derided and ridiculed my decision to to take a loss on some $1100 and sell at $1000 (I wish I knew about shorting back then). My first speculative Bitcoins were purchased at around $720, not $7.20. I can't afford to allow myself to be influenced by these inflated delusional idiots.
Now we stand on the precipice. Bitcoin is facing a death of sorts. Bitcoin has gotten far too much heat as a result of avarice driven whales encouraging a massive Bitcoin ramp up (the 'libertarian' thing to have done is not to have held, but diluted their holdings to spread ownership around) and the established powers will only allow Bitcoin to flourish if they can control it. It is that simple. I see an absolute bloodbath ahead where Bitcoin is either killed or ends up being largely owned and controlled by JP Morgan and Goldman Sachs. If that latter happens, then be sure, Bitcoin could go all the way to 10K.....but 'freedom' or 'believing in the project'........?
LOL.
Not in the world that I live in m8!
I HATE Bitcoin.
