The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

LANDFILL I told y’all about crypto

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

Kak

#CANCELKak
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jan 23, 2011
6,494
28,156
4,554
Show proof you shorted it and people might take this post seriously.

I told ya so’s don’t count for shit unless you did something with it.

If you weren’t confident enough to short it you shouldn’t be gloating.
 
Last edited:

GPM

Platinum Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Oct 25, 2012
777
3,419
775
Canada
I am pretty sure that a drop does not equal going to 0 and ceasing to exist like you claimed would happen. You also said that you own 3 bitcoin. Are you so proud to be "right" that you are still happy that $30,000 disappeared from your paper wealth in a few months?
 
OP
OP
arcola

arcola

Bronze Contributor
Speedway Pass
Feb 17, 2013
291
202
118
Los Angeles
I am pretty sure that a drop does not equal going to 0 and ceasing to exist like you claimed would happen. You also said that you own 3 bitcoin. Are you so proud to be "right" that you are still happy that $30,000 disappeared from your paper wealth in a few months?
Not gonna lie...I really believed in bitcoin but none of the others. Now I think bitcoin will survive but around $3-4K. I bought 3 way back at 7k.... I did not short it. I wish I shorted the other coins. Maybe I still can
 
OP
OP
arcola

arcola

Bronze Contributor
Speedway Pass
Feb 17, 2013
291
202
118
Los Angeles
Show proof you shorted it and people might take this post seriously.

I told ya so’s don’t count for sh*t unless you did something with it.

If you weren’t confident enough to short it you shouldn’t be gloating.
I wish I followed my gut and shorted eth and litecoin...
 

Kak

#CANCELKak
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jan 23, 2011
6,494
28,156
4,554
Not gonna lie...I really believed in bitcoin but none of the others. Now I think bitcoin will survive but around $3-4K. I bought 3 way back at 7k.... I did not short it. I wish I shorted the other coins. Maybe I still can
Dude you are playing with fire in so many ways....

Why did/do you believe in it?
Why do you think it will survive?
What does “survive” even mean?
3-4K based on what?

You wish you shorted other coins... Duh. “In hindsight I would have liked to make more money” Me too. But you didn’t. Your guesses and $2.50 will buy you a cup of coffee.

You are going to go try to short them now? You do realize you can lose MORE than everything by shorting if you are wrong?

This is some of the most speculative, finger in the wind, ram your way through a thought process, manic shit I’ve ever seen. You should be able to explain you assumptions on any investment.
 
Last edited:

biophase

Legendary Contributor
EPIC CONTRIBUTOR
FASTLANE INSIDER
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 25, 2007
7,291
33,850
5,083
Scottsdale, AZ
I wish I followed my gut and shorted eth and litecoin...
That’s the difference between winners and losers. Riding down the crypto wave with everyone else doesn’t separate you from the rest. You have to be able to pull the trigger.
 
OP
OP
arcola

arcola

Bronze Contributor
Speedway Pass
Feb 17, 2013
291
202
118
Los Angeles
That’s the difference between winners and losers. Riding down the crypto wave with everyone else doesn’t separate you from the rest. You have to be able to pull the trigger.
It’s true man. Good lesson for me. Shouldn’t have kept my hands in my pockets. I knew the value props for all thes bogus cryptos was bs. I should have acted on it.
 
OP
OP
arcola

arcola

Bronze Contributor
Speedway Pass
Feb 17, 2013
291
202
118
Los Angeles
Dude you are playing with fire in so many ways....

Why did/do you believe in it?
Why do you think it will survive?
What does “survive” even mean?
3-4K based on what?

You wish you shorted other coins... Duh. “In hindsight I would have liked to make more money” Me too. But you didn’t. Your guesses and $2.50 will buy you a cup of coffee.

Now you are going to go try to short them now? You do realize you can lose MORE than everything by shorting if you are wrong?

This is some of the most speculative, finger in the wind, ram your way through a thought process, manic sh*t I’ve ever seen.
Bitcoin will survive
It’s a real ubiquitous currency
Not just a store of value
Drug dealers use it
Black market use it
It’s structure is good

The rest is just plastic
I am right about all thes other cryptos
They are beanie babies
People are activist like they are competing with each other
And are like internet start ups in 2000s
They are treating them like companies
I don’t know anything about the coins
Just how people talk about them I know they are worthless
I was right
 

Don't like ads? Remove them while supporting the forum. Subscribe.

OP
OP
arcola

arcola

Bronze Contributor
Speedway Pass
Feb 17, 2013
291
202
118
Los Angeles
Dude you are playing with fire in so many ways....

Why did/do you believe in it?
Why do you think it will survive?
What does “survive” even mean?
3-4K based on what?

You wish you shorted other coins... Duh. “In hindsight I would have liked to make more money” Me too. But you didn’t. Your guesses and $2.50 will buy you a cup of coffee.

You are going to go try to short them now? You do realize you can lose MORE than everything by shorting if you are wrong?

This is some of the most speculative, finger in the wind, ram your way through a thought process, manic sh*t I’ve ever seen.
I am going to short eth and lite coin right now
Big bets
 

Kak

#CANCELKak
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jan 23, 2011
6,494
28,156
4,554
Last edited:

Vigilante

Legendary Contributor
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Oct 31, 2011
10,861
63,500
4,655
Gulf Coast

Patrickg

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Nov 20, 2016
103
127
136
Since when does a price drop mean something is a scam?

You said it would go to zero.

The DJIA also dropped 7% in the past two trading days. Is that a scam?
I agree with you, but I will say the DJIA is a scam for the masses. Some people make money there. For the Rest it's the Wall Street casino.
 

WestCoast

Silver Contributor
I've Read UNSCRIPTED
Speedway Pass
Jan 20, 2008
251
518
250
On the West Coast we ride
In my experience, manias like this usually result in financial disasters for retail investors.
They get caught up in the hype late, near the peak. They buy in with the small amounts of free cash they have to gamble. They see a gain at the very end that confirms their hopes.... then they ride it down to nothing as the bubble implodes.

Tulips in Holland, .com stocks, unicorn valuations that people wish they could invest in.
It's all the same scam.

I feel for it many years ago taking delivery of physical gold when it was at $1700/ounce.
Bought into the hype, hedge against the end of the world, or the modern economy... or whatever.

Yeah, it's still at $1300, and I have $30k of coins collecting dust in a drawer that is still worth 30% less than I paid for it 8 years ago.


Now? I don't invest in anything I don't own, control, or manage. Simple as that.

--
Blockchain and cyrtopcurrencies will likely eventually be socially accepted and used to buy and trade for things. No doubt. But a hallmark of those activities is a stable and reliable store of value, of which these things have never yet exhibited.

So, I stayed on the sidelines (actually, just completely and utterly paid zero attention) and it's funny to see the articles about it unwinding now.

Of course it was going to, it was pure gambling, and I'm sure it will keep bouncing up and down like mad for the next 5 years, proving each side right/wrong.

Until it's stable for many years and a good store of value, it's not doing a good job of being what it's supposed to be - an alternative currency.

And it's good at what it wishes it was not -- another game at the casino for people to bet on.
 

Attachments

solaris1972

New Contributor
Read Millionaire Fastlane
Jan 28, 2018
5
6
16
Sao Paulo
Crypto is not a scam.

But yeah, it's a market overcrowded by newbies and people thinking they will get rich quickly. Most of them never operated a stocks market, so fear and panic spreads quickly. This leads to volatility, etc.

However, there's a lot of shit in this market. Lots of unfunded projects getting hype and attention. I don't regard it as a scam, but I understand people who do. Crypto reputation isn't good in the place and I doubt it will change soon. As an unregulated market, it's a honey pot for scammers and the volatility worries people - imagine 50%, 70% in just DAYS. Yeah, that's crypto.

However, there are solid projects right there. The blockchain is suited to be a decentralized "registry's office" and a monetary system. Projects moving towards this goal tends to be pretty promising, but anything promoting "a revolution" without any relationship with registry-keeping or financial applications is almost certainly a scam.

Invest wisely. Don't think you're going to get rich fast and quickly with crypto, treat it as a stocks market in its early days. Yeah, sure you can make some good money and some people will get pretty rich, but remember the "survival bias" MJ talks about in UNSCRIPTED.
 

solaris1972

New Contributor
Read Millionaire Fastlane
Jan 28, 2018
5
6
16
Sao Paulo
Also, when you see these click-bait headlines "if you have invested $100 in Bitcoin in 2010 now you would have x millions/thousands!", read about the Law of Accelerating Returns/Accelerating change. These statements sounds "down to earth" because 2010 was just some years ago, right? But if there's something the Law of Accelerating Returns tell us is that it's the same as saying "if you have invested $100 in this NYSE stock back in 1870...". This is not going to happen anymore, the crypto market is very very very big by now comparing to 2010. And that applies to altcoins, of course. Back in 2010, the entire bitcoin was valuated in LESS THAN $1 million. Nowadays, any new altcoin is valuated at least $10 million! There are 22 cryptos with more than 1 billion valuation today (and we are in pretty bearish trend)! The entire crypto ecosystem is now at ~300 billion USD market cap; the peak was 813 bi last month. If you think crypto will make you rich with 100 bucks, take a look at this data and reason it.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

amp0193

Legendary Contributor
EPIC CONTRIBUTOR
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
May 27, 2013
3,198
14,213
2,804
United States
Was waiting for this thread.

People wish the price was lower so they could buy in.

Then the price is lower and everyone’s too scared to buy in.

Not a scam, just a return to the mean. We will see it back again.

Buy the panic. Sell the greed.
 
OP
OP
arcola

arcola

Bronze Contributor
Speedway Pass
Feb 17, 2013
291
202
118
Los Angeles
Was waiting for this thread.

People wish the price was lower so they could buy in.

Then the price is lower and everyone’s too scared to buy in.

Not a scam, just a return to the mean. We will see it back again.

Buy the panic. Sell the greed.
Keep telling yourself that. Unless you are talking about bitcoin it’s just not true. There are hundreds of worthless, basically a scam, cryptos out there that will never be worth anything.
 

amp0193

Legendary Contributor
EPIC CONTRIBUTOR
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
May 27, 2013
3,198
14,213
2,804
United States
Keep telling yourself that. Unless you are talking about bitcoin it’s just not true. There are hundreds of worthless, basically a scam, cryptos out there that will never be worth anything.
I was talking about bitcoin.

Not disagreeing with you about there being a lot of worthless, over-valued cryptocurrencies.

I don't share your opinion that all of them are that way, however.

I think ones that will eventually have considerable value are the ones aiming to be completely anonymous currencies, i.e. dash, zcash.

These will be strong when government regulators start to meddle.
 
Last edited:

IGP

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Aug 24, 2015
506
1,366
426
47
I’m still working on how to do it but will post pics when I do
LOL... Doesn't know how to do it, but he's going to... o_O

Please post screenshots of your margin trades, I can't wait to see this get stuffed right in your
culo!
 

RobD88

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Nov 20, 2017
196
484
222
Missouri
Since when does a price drop mean something is a scam?

You said it would go to zero.

The DJIA also dropped 7% in the past two trading days. Is that a scam?

Why yes it is. Did you not read MJ's books? :hilarious:
 

Kak

#CANCELKak
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jan 23, 2011
6,494
28,156
4,554
I agree with you, but I will say the DJIA is a scam for the masses. Some people make money there. For the Rest it's the Wall Street casino.
“Investors” that trust their money to the markets, but don’t have the slightest clue how the markets work are gambling. Without a doubt.

Now, the DJIA is a collection of companies. Companies that have value. So no it’s not a scam. Bitcoin isn’t a scam either although it kind of behaved like a meteoric Ponzi scheme where the only value of the “asset” itself was the willingness of people to buy it.
 

Christian McGhee

Bronze Contributor
Speedway Pass
Jan 10, 2018
27
109
38
29
Colorado
Its all speculation no? Instead of HODL you should align yourself with the bigger idea. The innovation here is BLOCKCHAIN and all of its benefits, such as smart contracts. Crypto in itself has speculative value, but the benefits of the blockchain system itself, will be felt for years to come. With that being said, I still look for ripple to be the long term winner here.
 

Process

Silver Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 19, 2017
250
533
253
Solving Pain
Eh... not a scam. Crypto is a highly risky gamble based on what the hivemind is hyping. It is not a CENTSible investment at all.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Sponsored Offers

  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
Got it several weeks ago and have listened to it several times now. I've definitely met both...
  • Sticky
MARKETPLACE Fox' Web School's "Legend" Group Coaching Program 2020
For those with the "can web design be Fastlane" question this video by @MJ DeMarco is a great...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Just got off the phone with @LightHouse. Having just a 45 minute conversation with him has...
  • Sticky
MARKETPLACE Kill Bigger Incubator
@Kak Out of curiosity, what types of businesses are you advising on? (I read this whole thread...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Just bought 5 of your Upwork courses. Thanks for making valuable content Lex!
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Thanks for your offer to look at my book. Here's the link to the squeeze page Buy The Prosperous...



Forum Sponsor

sponsor

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom