Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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You know, one of the main reasons why mindrust pulled out was greed. He aimed at some high amount of $ per BTC, he said he would never sell below that. When he was about x10 from his entry price he feared to lose more, so he sold everything but 1 BTC (IIRC, which i often doubt, hence my meaningful nickname).
This sets you apart from mindrust, though, only if the (true) motivation for your leveraged long position wasn't greed.
Some derivatives and tools of the financial markets are tempting because powerful if used successfully, but i think Satoshi was very much against them, as parts of the system, so he propagated HODL. This is what you should have done, but it's hard todo follow advice if you only trust in your own judgement. In reality, we are so weak and full of error...
Good luck and act accordingly
You know, one of the main reasons why mindrust pulled out was greed. He aimed at some high amount of $ per BTC, he said he would never sell below that. When he was about x10 from his entry price he feared to lose more, so he sold everything but 1 BTC (IIRC, which i often doubt, hence my meaningful nickname).
This sets you apart from mindrust, though, only if the (true) motivation for your leveraged long position wasn't greed.
Some derivatives and tools of the financial markets are tempting because powerful if used successfully, but i think Satoshi was very much against them, as parts of the system, so he propagated HODL. This is what you should have done, but it's hard to
Good luck and act accordingly
I agree, mindrust's goal was always to increase his fiat stash and that is the trap he fell into.
He fell for the astrology of Masterluc and thought he could rebuy at $1500 IIRC.
He over exposed himself with his buy gamble (effective long) and was terrified of losing fiat value.
He forgot 1 BTC = 1 BTC and for that he will always be a cautioning tale.