/biz/ - Business & Finance

>>10485068
>getting tricked by russian hackers
you deserve to suffer.

>>10301019
turns out, it wasn't

many of you bought in at peak delusion like I did back then in 2011

you need to know this is a cycle which is tied to the halvening
every 4 years the supply of bitcoin halves, creating a shortage of supply and driving up the price
like last time this resulted in a massive speculative bubble
this is all the economics you need to know
it has more to do with psychology than economics
you don't really understand what that means yet, but you will
just like you don't understand what delusion means in that classic bubble graph even when you are undergoing it right now

a few days ago you saw the hype collide with bitcoin's infrastructure
the exchanges and tickers started to buckle under load
this is nothing compared to what is coming
if you think this mania will slowly settle down you are mistaken
yes, last time it was only ONE exchange, mtgox. that exchange had been battered by hype and DDOS dozens of times before
now there are dozens of exchanges but a few days ago it was proven that they aren't up to the task and to me this confirmed that history WILL repeat itself
we just saw price fluctuates of 10% in an hour and trades per minute spike over 6000
people are nervous and on edge meaning it will not take much
>china bans bitcoin
>ny times article tomorrow
>exchange gets hacked
>tether implodes
>vitalik has a paper cut

if you've read this and think I'm wrong because "this time is really different"
>the masses are moving in
you will feel pretty depressed in 2018
bitcoin will be the worst performing currency in the world again for a year
just hodl and you will be fine in 2021 and up 4x what you have today
this is what I have done during the last 3 speculative bubbles

this time however I'm not prepared to lose 90% of my portfolio and will watch the show from the sidelines
I will be there soon buying the dip for pennies on the dollar
I won't feel guilty taking your retirement because if I don't, someone else will do it

this also applies to the stock market btw