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Call me Johnny Paperhands, but I just sold VET at 0.204 for a decent profit from last night.
Yeaaaah. I’m just sketched. We’ve had what, like 4 dips this past week or two now? Granted everything has recovered to ATHs for some things.
So you want to sell at a loss so you can hopefully buy the same thing at a lower price?
Given the circumstances it’s really not that far fetched of an idea.
No, it really is. I could drop the math but suffice it to say the cost basis is 0.22. Sell at a loss at 0.21. Hope to buy at 0.17/0.18 and ride it up. If the price hits 0.20 then you made about 0.02 minus the loss you ate so about a penny a share. If it only hits 0.19 you break even. If it hit 0.23 then you could have sat tight, had zero risk and made a profit The risk btw, is you eat a loss, buy at 0.17/0.18 and then it drops again because there is no way to gauge it other than guesswork and hopium. You end up compounding your loss.Given the circumstances it’s really not that far fetched of an idea.
Asia waking up soon so we’ll see what effect they have.
It's only bad idea on paper until you execute it and them it's a bad idea in reality. I wish you all the best, but this idea really isn't... good.
I was thinking more along the lines of rebuying at 0.15-16 myself.
Ok. You are a different scenario than the other one because you sold for a profit. If you are already long the instrument and think it is going to go higher after a "slight" dip of 4-5 pennies, the correct answer is to be patient and wait, not realize a loss.
Well no, because that’s not 20-30 percent cheaper.
And to go back to my point, there's nothing special about bitcoin that can't be replicated. Why would the crypto they can't control be the one they pick instead of something that governments develop?Good post, and I'm not trying to crap on bitcoin per se, I'm just saying the very point of the monetary system is corruption and they will squash any threat to continuing the grift. Corruption is a feature, not a bug.
To address your bullet points:
1. They don't care. They don't care about avoiding any of that. They talk about it, but they will collapse the entire system before they actually take action so it's a moot point.
2. How long term are we talking? After a collapse of a currency? At that point, it doesn't matter. Governments and economies don't operate on geologic timelines, 20 years is a long time in monetary policy terms, and 50 years is about as long as any currency system lasts without major reforms. We are in that window now if you look at the last time the dollar shifted which was when we went off the gold standard in the early '70s.
3. Not much longer. What will replace it will be either a digital dollar, or more likely the Yuan. China's problems will magically disappear if they become the world's reserve currency, just like all of our stupid policies like QE are masked by being the world's reserve currency.
4. Bitcoin isn't built on debt, and debt is the point of the current system. Like I said, it's a feature not a bug, it's how they fuck everyone and accrue all wealth to themselves over time. Going away from that is needed I agree, but it won't come without a massive upheaval and that upheaval is very unlikely to come from within the US sphere of influence. The central banks/fed are simply too powerful. Whether it meets all of those goals is irrelevant to our current rulers, and that's who's going to decide whether it lives or dies, not us.
5. Governments are full of the incompetent, true. But the people who ACTUALLY control govs: fed reserve, wall street, central banks, etc are pretty much the most competent and ruthless people on the planet. If you think the actual 'people' of the US or west have any say in the government's monetary policy, or any policy that affects the aforementioned people... well I have this great fractional ownership deal on a large clock in London I'd like to share with you. Or maybe we can ask all those people who are currently serving time for all the bullshit that caused the 2008 collapse... oh wait...
6. Afraid of a few globalists personally? No. Afraid of the militaries they control? The nukes they control? Their ability to dictate 'reality' through the media? Yes. You do understand these people control TRILLIONS of dollars and all western govs through their proxies and by extension their militaries, including the US military? We're talking about the entire system here. Monetary policy is at the root of it, and there is no way in hell that while these people still have power they will brook any serious competitor to that power.
Don't get me wrong, I think if bitcoin or some other decentralized currency were allowed to do its thing like you're talking about, it would unfuck the world in many many ways like you say. But the powers that control the world's money will never allow that to happen BECAUSE of that very reason.
This is all just my opinion though and I seem to becoming more cynical by the minute, so grain of salt and all that
