Again on Bitcoin

ertwro (62)in #ertwro • 7 years ago (edited)

My absense

Most of my posts so far have been on broad science but mainly on synthetic biology. Recently I've not been very active on the platform the main reason being I was working and getting ready. For the next ride.

My guessing post back in August, 2017

Back in August, I speculated that the best outcomes were to bet on Bitcoin cash after the fork, sell at around 0.4 BTC parity. To invest in low cap new currencies and sell at 10X increase in January, sell in ^JANUARY. Which I did. My main interest is modeling biology using mathematics and computing, and markets are far easier to model. Especially when they are so heavily manipulated like this one

I'm mostly a skeptic of Bitcoin and its derived technologies, I think they are cancer. Altcoins are like metastasis, but just like cancer, it means that it will mostly persist. I bet against me being wrong.

Well, the time for capitulation is here. I sold most of my BTC at 15-16k and altcoins (ridiculously high). Bought back recovered my initial sell at around 6k recently, and now I'm going to cost average 33% of my fiat in again (leaving 30% fiat, which is far more than I started with, as a reserve). One must always watch what are the bottlenecks in a system. And I've found the two big ones. I'm not certain of the next selling time and to be honest I don't think I can outperform my past trading success. So I'm about to start developing in cybersecurity for a interesting cryptocurrency project I've found.

My next profit taking will be around 35K, timing still fuzzy. Will write about it when it comes. For now is the time of hard, fast work and software developing. Weird M.D. am I, right?

While I think the security threats are fairly overblown, it won't matter. People are gonna start shifting this year from financing the internet and technology companies by publicity based models (ads) to other means. The lowest common denominator is gonna be "blockchain". The regulatory frame will have to change a lot, to disassociate the whole sector and allow companies to finance themselves independently of swings in other Assets, e.g. BTC falls everything else does.