Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 02/01/2023, 23:27:20 UTC
i think that all hodlers got rekt in a sense (if you had most before 2022) by losing 70% of the nominal value (measured in less ability to pay for typical things), although it is different in comparison to the situation when your coins were stolen either by a hack or by some unscrupulous, possibly criminal, and definitely negligible entity such as FTX, Blockfi, Celsius, etc, etc.
As far as breakeven for mining, people can tolerate negative return for a short time (I assume maybe half a year or a bit less).

Your idea of getting reckt seems to be different from my own.  Of course, each of us recognize that there are gradients in terms of getting reckt, but geez Lois.. I would hardly classify poor employment of opportunity costs as even coming close to getting reckt  - because severe price moves should be anticipated, even severe price moves that go way beyond expectations, even in bitcoin.

Even if you might lean more in my direction after I argue this topic for a while, we still might not exactly agree upon where to draw the line because I would consider that even a person that starts investing into BTC towards the $69k top, would not necessarily be reckt as long as s/he did not blow his/her whole wadd at $69k and is investing no more than s/he can afford to lose - even if attempting to front load the investment a bit as long as s/he were to have kept buying.. .. so yeah, maybe even now, his/her average price per BTC might be upper $30ks or even in the $40ks, so it could take one or two years or even longer before the investment is out of the red.  But, I still would not consider that getting reckt...even if s/he has now run out of cash and just has to sit it out, or maybe is ONLY able to buy $10 per week or some low amount because s/he speculated that the BTC price was not likely to go below the 100-week moving average, which is currently starting to slope down and is currently less than $38k and it had been crossed below in May when it was around $35k.    So yeah, it could take a while to get back into the green (or the black) but I still would not categorize that as getting reckt.

Sure, some of the more extreme examples both of us likely agree that they fall into a kind of variation of reckt.


I am torn on this because I would have been careful NOT to share information while the attack is going on and things like that, and then being publicly known makes it seem as if even additional precautions might be needed. 

Signed,

truly torn.