Looks like the scammers at Bitmain are trying to rig the market above their cost of production now. This is how you get the long, drawn out bear markets. They'll do this for months until finally giving up and then it just slowly grinds lower with various miners going bankrupt just like last time. Now the market is entirely just random slobs trying to profit off forecasting when and where Bitmain will attempt to rig it to. If you attempt to trade it, you have to figure out if Bitmain actually wants the price to go up, or if they're trying to keep it lower to bleed out competitors first.
r0ach, are you currently invested in bitcoin or do you plan to in the future?
Genuine question, just curious. You don’t have to answer but I’m sure that it’s not just me wondering.
I would say bitcoin does not qualify as an investment. It's not a business, and it's also a currency and not money. I'd say in current state, it's a centralized, Chinese currency issued by Bitmain, similar to how Chuck E Cheese tokens are issued by the Pizza store. The only people who should be screwing with currencies are Forex traders or people that actually use them for something. As in, if you don't use the currency Delta Airline miles for anything, you should not be holding Delta Airline Miles. Everyone else should either be using real money (silver and gold) instead of currencies or creating/investing in some type of business or something.
Looking at things from a big picture view, it's absolutely astonishing people are trying to portray a currency as a get rich quick scheme when actual money exists with far superior traits (silver and gold). If anything, the real get rich quick scheme is when the market does it's paradigm shift back from fake money (fiat paper) to real money again (metals). The only way that's not going to happen is if you make believe the crooked US govt can defeat Russia, China, Iran, Turkey, and dozens of other nations simultaneously in a world war - a complete joke. Most people in the US will even fight on the side of Russia against their own crooked govt to make it even more laughable.
