Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

As Hyphymikey's posts show, people can take what is said here seriously and base their investment strategies on users comments

I can't believe that people actually do that. Nobody has ANYTHING to gain by giving the world advance notice of their trading intentions. The best thing to do is either ignore, or do the opposite of what large holders claim they will be doing in the near future.

A fool and their money...

False. People have REPUTATION to gain. Never underestimate how powerful praise can be if you are deemed a demigod of trading (or predict anything ahead of time for that matter). I can give you a very specific, recent, and pertinent example:

Rpietila said there would be a drop to low 400s in December. I held my fiat and waited. Sure enough, my phone started blowing up with notifications of falling BTC price. I waited, it hit 400, I bought, and it immediately rose hundreds of dollars. I said thank you to Rpietila for his advice. I am now up over 100%. Some fool I am...

Hope you didn't listen to his last prediction. So he's 50/50 by my count just like a coin

If you backtest his predictions, he's definitely done better than 50/50. However, that can definitely be a ton of homework seeing as he's got a ridiculous amount of posts. In short: Take what people say with a grain of salt, do your own research, come to your own conclusions. I've done that with many of the posters on here I feel are smarter than the average bear (no pun) and it has been very lucrative thus far. However, I think we can both agree that blindly following any person is not a smart idea