18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,329 Blog Posts

Dear Lord: Please Don’t Rug Pull

Last night gold bugs were having a moment with gold at record highs. Amidst the pomp and glory, Peter Schiff was a hero again, the proverbial “I told you so” fucked face after decades of waiting. And then gold collapsed again and no one cared.

On the other hand, $BTC is everything gold was supposed to be and more. The price has melted up above $41,000 and nothing seems capable of stopping it. If you’re still doubting the viability of Bitcoin, you’re purposely deluding yourselves. This is from a person who mocked it in 2013 as it crossed $100.

Today we are seeing large caps down, smalls up very big. There is a massive risk on scenario underway in many of the worst stocks. In my longer term account, I’m up 165bps. In my trading, I’m range bound from +40 to +95bps and extremely on edge about rugs being pulled. I can see it now, the rally revoked and all lost, just like Peter Schiff.

But then I see $CVNA and others and really want to play the video game, enter a few more quarters into the machine to catch some winners.

I’m caught between my greed and fear, encouraged by my competitive nature — fighting my emotions with my intellect. I’m also over dramatizing this for a fucking blog, getting carried away again.

I just want MOAR.

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One comment

  1. metalleg

    People should be loading up on alt-coins now. Historically, after BTC makes its big move, the alt-coins follow and the % gains will be.com-ish.

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