Topic: Traders Are Cockroches (Read 1910 times)

like ferrero rochers, but saltier

Haha, that's why I didn't and will not do it. Buy cheaper bitcoin and sell at higher price, after it drop, buy back again. It simply not right for me, just like manipulate the market. I prefer to sell my bitcoin if I don't have any other option to get money in case I really need it.
They are playing with bitcoin to get profits, it is a game where some get profits while others get loss.

Neither argument here is strictly true.

Argument 1: Bitcoin should be higher.

No, because removing the traders would mean that Bitcoin was once again a movement of currency for the better, which is still is but with the additional aspect of being an asset.

Argument 2: Without traders there would be no Bitcoin.

Not at all, because unlike some things which traders treat as a store of value or to be traded (like gold) Bitcoin is not solely intended for that purpose.  Bitcoin was always founded on the clever principles of the blockchain and its simplicity.  With trading, it's quite interesting how Bitcoin is a currency in itself, but the reason it is not always treated as one is actually because not enough people use it yet.

Another common argument from this thread: It's their money, they can do what they want with it

This is the weakest of all possible arguments because no one actually argued that they couldn't do what they want.  The thread was a suggestion that Bitcoin could be doing a lot better and how.  If someone's only argument for something is that they can legally do it, it's probably not a decent thing to be standing up for.

I would argue that Bitcoin has a stable community of people who are interested in its purpose as a pseudonymous cryptocurrency and understand how the blockchain works.  The day traders are not causing the community harm because they are already pumping up the price  and many of these people are not likely to become genuinely interested in Bitcoin so all Bitcoin needs is more community members interested in the currency.

Done

I think they are not playing the market but rather trading in the market.  We all aware that traders wanted to earn from their trades so please do not be frustrated that they sell when there is a profit to be seen.  It is their coins anyway, get angry if they are selling your coins  

I think it is not that simple. Most traders lose money.

It's a OPEN market, where people can trade in whatever way they want. They generate profits in this way, and most of those profits are invested again to make even bigger profits. Let's take an example : Trader buy at $1000 and the price goes up to $1100 - Trader sell, and make a profit of $100. The price goes down to $1000 again, but this time the trader buy for $1100. < over simplified, because trading fees are not worked into this example >

Sudden spikes and huge drops will be too much volatility for the merchants. So we need smaller increase in price to keep them happy. ^smile^

some people  can't understand what trading is and how people are making profit. they expect to see a straight line up without any fluctuations on the way. and when they check the price or a chart they see some zig zags and think everything is over

It's called a correction dumb dumb it's pretty much guaranteed after a run up. We've had like 3 days of not shooting up, calm the hell down. Were at 1190 now, you'll have your 1300 soon. Stop being so impatient ya cockroach.

No no no. Fake news. Alternative facts.

Just dont press the SELL button!!!  

What a stupid fucking idiot you are.

Don't you get it? Bitcoin is all about getting rich and raking in massive profits. Same people who are responsible for pumping the market (i.e. the market makers) are the same people who are responsible for dumping the market, or at least refusing to support it once the market gets into nose bleed territory, lest some other whale with different ideas take a big dump on them.

For my money, there are some very deep pockets heavily invested in Bitcoin (i.e. Chinese mining cabals) who are going out on a limb to lift Bitcoin right up here,and they will probs want Bitcoin to stay reasonably high, with a min organic price floor of $500 being the lowest price tolerable to the miners, and hence to the whole Bitcoin ecosystem. Their resources are deep and plentiful, but no guarantee that they will succeed if Joe Public don't bite, and if Bitcoin continues to be largely 'unadopted', or if the good ol PBoC just keep on with their disapproving.

Perhaps you should do your altruistic bit for Bitcoin, and help these poor miners out by going all in at the ATH, with whatever capital you can get your hands on. These mining farms cost a fkn fortune to run ya know!

  My man, do not hate the players . It  is thanks to them that the market is moving towards ATH almost every year.  Like others said, if traders would not want to play with bitcoin then it would just be as valuable as the time it was used to pay for pizza
You can make profit without daytrading, buy low and sit on your coins for a while and you will be able to sell with profit. Have patients, remember it took around 10 years for bitcoin to be where it is now. Imagine what another 10 or even another 2 years can do .

Agreed, also one of the purposes of Bitcoin is  freedom, how you would pretend control traders to control the price? whats the difference against a central bank?

"Bitcoin should be like that, traders should be like that, lalala..." why are you so angry about it, without those people who trade bitcoin daily there would be no bitcoins because there would be no markets needed for that, so think before talking too much about it. Besides that it is their job, they are making money out of it and you cannot say that they are doing only harm, if I had a chance to be a trader I would definitely do it, because even though some people are pissed because of the price fluctuations all in all you are doing good job and making decent money.

Some life advice. Go and look up "game theory" and do some reading.

That would not help at all people need to sell and buy

Without the speculators (both long and short), there would be no market. There isn't any trade done in bitcoin (the traditional reason for buying or selling a currency), and there is precious little commerce being done in bitcoin either. Speculators are the ones keeping the whole thing going!

That's not true in all cases, I know a few BTCBTCBTC traders that are filthy rich.

Let them do their little trading, meanwhile long term holders have made more money than all traders. Daytraders always lose in the long term, it's like pretending to win in the casino, they are idiots.

So keep buying the dips and keep holding long term to win the game.

How often did i told you guys that we should just stop selling until bitcoin goes to 100.000$.
This is so easy to do!!!! Just stop selling!!