The Bitcoin party won’t stop. Crypto traders are doing virtual keg stands on Twitter waving their dicks around showing pictures of new houses they bought with Magic Internet Money.
Yes, we’re all getting rich and you’re not.
Bitcoin is over $16,000 this morning. I’ll say what you’re thinking: “that’s retarded”. However, as Warren Buffett said, “the market can stay retarded longer than you stay solvent”. Do not try to call a top on this. Ask me how I know.
So, is Bitcoin a Parabola, Paradigm shift or Ponzi?
If you said all of the above you are correct!
Parabola is easy to prove. Here’s the weekly chart. It’s top kek.
Is Bitcoin a Paradigm Shift? Turn on CNBC and watch the pontificators pontificate about Bitcoin endlessly. But that means little. Watch this video I made from April 2017.
The video shows the adoption rate of new technologies. Crypto is in the early stages of S Curve adoption. Cryptocurrency is PROGRAMMABLE money. Yes, this leads to hilarious CATastrophes like CryptoKitties wrecking the Ethereum network but it also opens the door to some Star Trek shit in the near future. Bitcoin is an incredibly deep rabbit hole. If you get anything from my blogs just get that Crypto is bigger than the Internet and comparatively we’re still in AOL days. You will bend the knee or have your dick guillotined.
Is Bitcoin a Ponzi? At this point, yes. Bitcoin has printed a $5,000 Weekly candle. It’s Thursday. Like any good ponzi it’s hard to say how high it will go. Crypto needed an enema. This will be a colon cleanse of epic proportions. When it happens you want to be ready.
Oh, and Sunday night CME opens futures. I suspect that will be disastrous. However, the Street may decide to build the ponzi to fleece their clients before pricking the bubble.
My top picks are BCH, XMR and EOS. I tweeted trades on XMR and EOS that returned great gains past couple weeks. Follow me here: https://twitter.com/coinspeak_io
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BTC is not money and short of being currency.
I’m really hoping they try and price options on those futures. It’d be hilarious. The premium harvesting will make selling options on UVXY look like a minimum wage job.
I have no idea how they can price those futures………
Good luck Wall street
Latest thoughts on bcash? With Roger being an absolute retard and broadcasting it to the world, I’m really not sure they can be taken seriously anymore but would like to hear your opinion.
Bitcoin Cash will be fine. Short term it may see $850 but that is that is what happens in Crypto. 5,000 steps forward, 4,500 steps back. YOLO
Roger is possibly the least videogenic person the planet. He’s got a ton of passion and a lot of heart but he needs to hire top PR talent ASAP. It would be the best money he could spend.
PS – please blog more!
One of the drivers is, oddly enough, the attempt at government oversight. Here’s my thinking:
They are trying now to regulate the exchanges. But as the exchanges begin to decentralize, regulators will realize that cryptocurrency cannot be controlled in the same way as a fiat or physical medium of exchange. So what will be their next move? They will have no choice but to try to try to track at the point of sale – ie the retail (goods) vendors.
But this implies tacit acceptance and introduction by governments of a vendor framework for crypto – therefore legitimising it – leading to a dramatic expansion of the vendor pool – the more vendors the more it becomes money, the more it becomes money the more vendors will use it. The perfect storm.
In essence the government will, through the unexpected consequences of their own actions, create their own nightmare. A replacement for their own money system.
Reminds one of what happened to the film industry when digital cameras were introduced. Didn’t work out too well for Kodak and Polaroid.
Unless the regulation put on the retailers is so burdensome that none would accept it.
They could also force any company issuing an ICO to prove every investor is accredited. That’d quickly kill that market.
Need to get the politicians invested in the crypto space. Then their decisions may be more aligned with the public.
Of course this assumes they actually have a say.