I have spent the last three years on an italian discussion forum (not bitcointalk) where I could truly get a glimpse of what being a Bitcoin fan really means.

Personally, as I was trying to argument in a previous topic here, I don't have anything against holders for what it's worth: but I can't stand crypto fanatics.

And may be just because I envy them after all, who knows..

Anyways, there was this guy in the forum who used to brag because he didn't use stop losses: he never ever closed a position in loss.

Besides being a holder with the classic DCA approach, he used to open some "trading" position from time to time on bitcoin or alts, but he never closed the position if it was in loss. What did he do? He just waited.. waited until the price rised up again and turned the position to gain.
(of course he wasn't affected by funding fees because he only operated on kraken or bitstamp).

In the end he admitted that he couldn't consider himself a real trader, but rather that he was sustained by some sort of faith in bitcoin, which led him to believe that the price will always come back and rise no matter what.

Now, this type of conduct would be punished in any other financial market.. but not in cryptomarkets..

If you look at the dot-com bubble back in 2000s, you notice that some stock did never touch those prices again (ST microelectronics, for one), so if you had bought at their highs in the mid of the bubble, you would be in loss even after 20 years.

The nasdaq index took something like 14 years to "recover", to check those price levels again, just to give an example..

Instead, if you bought bitcoin at its high back in december 2017, after just 3 years you'd be forgiven your mistakes..


Bitcoin fans keep buying "the dip" as if the price was destined to always be rising "by design"; they worship plan B and all his stock-to-flow stuff, which I hate.. they have no consideration for any sort of method whatsoever, they don't know what risk management is... they just believe .. they just have faith and rely at the mercy of bitcoin ..

but, surprisingly, they are right until now..

and, I'll admit, that makes me a little mad ..