Are We The Greater Fool
Are we the greater fool or CNBC and the people/businesses they support are the greatest fool. I'm not a writer but I have to say what I feel, I've been wanting to... I'm responding to an article written by a CNBC staff @chengevelyn Bitcoin speculators are the new day traders.
"The overall market value for cryptocurrencies has risen from below $20 billion at the start of this year to above $110 billion, according to CoinMarketCap."
. . . Great 90 Billion for this year (2017) alone, incomprehensible, unimaginable, unheard-of, huh... so how about 2018, 2019, 2020, 2030, 2050 and beyond... crazy huh...
"As the stock market becomes increasingly expensive for ordinary investors — Apple and Facebook shares cost around $150 each — trading has heated up in bitcoin and other digital currencies. Bitcoin can be bought in fractions..... That makes it an easy target for speculation."
. . . What a word to use "ordinary investors" great this "ordinary investor" never had second thoughts... no, not true... I did 10x, 100x, ... was willing to risk $1,500, $2,000, $2,700, $3,000, to get a bitcoin versus an increasingly expensive Apple and Facebook share of only $150... and people were/are still willing to risk $300, $330, $350 getting Ethereum after the Ethereum Flash Crash.
"Bitcoin can be bought in fractions as low as one hundredth of a millionth, or about less than one-tenth of a cent at current prices. That makes it an easy target for speculation."
. . . "Easy target for speculators" ...hmmm really, so what do you call investors of IPO's, aren't they also speculating ... "The Snap IPO: Speculation Without (Board) Representation" ... (don't get me wrong here, I'm looking into getting some shares of SNAP) ... so what's the difference? Another interesting article to read, Start Up Lessons Learned: Some IPO speculation.
"During the dot-com euphoria of the late 1990s, ordinary investors piled into shares of young, unproven technology companies and the day-trading taxi driver symbolized the era. But this time ordinary investors are going elsewhere, says Ian Winer, head of equities at Wedbush."
. . . Too much of the word ordinary, i'm hating this word now... it's like using "seldom".... and your English teacher scolds you for using it, though I never really understood why..... wait going back "taxi driver" really... taxi driver = ordinary investor = me... only because we're not sitting in a multimillion dollar office, wearing suits... this doesn't give us the right to do smart investing/wise choices....
""Rather than your average guy or gal buying tech stocks, they're buying bitcoin or ether," he said. "I see speculation all over the place. I just don't see it in the stock market."
. . . Average guy = tech stocks = stock market, so what are we below average.... enough of your bullshit....
"Just three addresses had balances of more than 100,000 bitcoins, or roughly $275 million, each, according to data from BitcoinPrivacy. In contrast, 16.8 million addresses had 0.00001 bitcoin, or about 3 cents, the data showed."
. . . YESSS and that 16.8 million+ addresses/people were given the chance to participate, citizens/countries like Nigeria, Zimbabwe, Argentina, Columbia, Lebanon, India, Indonesia, Philippines, Romania and the list goes on... yes citizens of these countries can now participate.... the 17.8, 17.6, 16.8 million addresses/people are probably miners in 3rd world countries who doesn't have the money/income to buy these coins BTC, ETH, LTC, etc.... but thru mining are given the chance to participate.
"I definitely think more and more retail investors have gone into it," he said. "There is definitely a lot of fear of missing out."
. . . Yesss FOMO!!! maybe it's true and this is exactly what's driving the price up ... no different than the stock market... but wait I did educated myself and it holds true to people I know who's starting to invest/consider it . . . and one thing this asset class has proven is its great community support... you can't deny it....
"Younger investors more likely to buy bitcoin rather than stocks"
. . . True... when the Baby Boomers are gone w/c i'm part of, born 1964, the stock market, NYSE, Nasdaq, etc. will be forgotten, just like the banks will be....
"The next generation is suffering from the same thing that the Gen Xers suffered in the dot-com bust," Winer said. "They're playing all kind of markets that they know nothing about."
. . . again maybe it's true..... so guys especially the Millennials, the Ethereum Facebook community and new BTC, ETH, LTC investors, be careful, do not trade on margin buy on the dip and HODL . . ."The difference is this time, typical measures of overexuberance may not apply to stocks."
. . . hmmm... you really had to add the word over... NO!!! I think citizens are tired of the global corruption in government!!!
"However, sluggish global growth and easy central bank policy could limit investment returns, while people remain wary about stock markets after the financial crisis."
. . . well they should be "wary", BTC/ETH/cryptocurrency investors are hedging against the coming financial crisis, just like the Gold/Silver investors are... which I am a part of (just added BTC/ETH/LTC to my hedge) but then I got frustrated and little did I know that they were also manipulating the price of Gold/Silver just like other assets they have control of.
"I do believe that in a market with few attractive alternatives, speculation tends to become rampant," said Daniel Alpert, a founding managing partner at Westwood Capital. "And it almost doesn't matter what people choose to speculate in, as long as they believe there is a fool greater than they out there somewhere."
. . . Yessss... right... we are all fools the only difference is these fools are waking up and soon you'll be following these fools..... FOMO!!!
Visit My site for a better view of my write up.
Thank You...