https://i.redd.it/hvvc8r8x1ude1.jpeg
Saturday, January 18, 2025
Don't Trust Anybody
Hello everyone,
I am making this post because it's impossible to reach everyone on this subreddit by commenting on individual posts. I would like to warn everybody that you shouldn't trust anyone online. Especially celebrities, well known people, politicians, influencers, whatever.
Please note that the information I share in this post are for general information purposes. I am not sharing any financial advice, nor am I qualified to do so. Please note that any reliance you place on such information is strictly at your own risk. It is not intended to constitute legal or financial advice and does not take your individual circumstances and financial situation into account. Should you need financial advice, I would encourage you to seek assistance from a trusted financial adviser, legal or other professional advice.
The main point of this post is to tackle some of the questions and arguments regarding the price of bitcoin and, well, the bitcoin as a whole.
Number 1: "On Jan 20th, BTC will go to the mooooooooon"
No. You don't know that. Do I know? Hell no. Nobody does. If you believe it will, then for you it's best to buy right now. I don't buy, because I believe it will crash soon (this is just a bs I made up for argument's sake, I actually have no money left to invest lmao). And then there's the other guy who watches both of us from a distance and goes "Jesus Christ, why does it matter? Just DCA, buy now, buy tomorrow, buy on Jan 20th, buy after that, who cares?" and I believe he's the smartest of us all. Because he bought back in 2016, he bought in 2021, he keeps buying.
You do you, but continuously posting about it and hyping yourselves up about how a fixed date will be the end of all of your worries is going to disappoint you. It happened back in 2021 with the SNL fiasco. So many people got disappointed.
Number 2: "BTC already crashed, let the FOMO set in, let your fear control you!"
No. It crashed multiple times a over the years. A 10% price fluctuation is nothing. It goes up, it goes down, it's your regular BTC movement. If that dictates your own buy/sell actions, that's up to you. But spreading the fear to other people doesn't help anybody. Also, it's best to note that even though this sort of FOMO isn't good, there are huge companies buying lots of BTC, countries making strategic BTC reserves, so it's best to keep that in mind. Then again, nobody can tell for sure if those companies and countries won't sell their BTC and cash out.
So what to do? You tell me. It's your money you're investing here. If you invest all of it in BTC and it goes up, you win. If you invest all of it, BTC goes down and now you urgently need money, you lose. I personally buy whenever I can, with the money I don't need. Because If I invested in 50 USD/EUR/ZWD, that money isn't going to save me from starvation. It won't get me a supercar, it definitely won't make me buy a plot of land. But if that 50 USD turns into 60 USD, I will have beat the market. That's the idea I have when I invest my money.
Number 3: "The president of a country/someone who talked in favour of BTC announced his own cryptocurrency/endorsed another cryptocurrency/started shilling some "memecoin" or whatnot"
Yes. This had happened before, either by that person or people around him by proxy. You can watch channels like Coffeezilla. Him and others like him always talk about how you should tread carefully. What you should know is that not trusting celebrities, rich people and politicians when they talk in favour of or against BTC is the best course of action.
I mean by now, everybody should have figured it out: everyone has their own agenda. If someone is talking highly of a cryptocurrency, then you should be wary of that person and that cryptocurrency because a pump and dump/rug pull is coming. If a celebrity changes his name, profile picture, starts posting about a cryptocurrency, you should be wary of that person and that cryptocurrency. If someone is constantly posting about how a cryptocurrency is going to change "the game" or "be the future" or how it's going to "help the community" or how it's "going to the mooooooon" then you should be wary of that person and that cryptocurrency.
This doesn't necessarily mean you should sell everything and leave. By all means, do whatever you think is right. But understand that those people aren't your friends. They aren't your best buddies. They are friends of each other. George Carlin tried to warn everybody about this in a show he was in. Their interests align, they go to same school, same country clubs, they are in the same community, they know what's good for them and they will do what's good for them. Just because they spoke highly of BTC today does not mean they are your friends or "BTC will go to the mooooon" sure, BTC has increased to 100k in the past. Does it mean it will fall below 100k? I don't know. Will it go up to millions if not billions of dollars? I don't know. I hope so, but I don't know. What I know for sure is this: the "influencers" or "celebrities" or whatnot, these people do not shill BTC or any other cryptocurrency without their own interests in mind. They are not doing this to help you, they are doing this to help themselves. Your interests and their interests do not align. Had it aligned, you would be a multimillionaire by now. Or I would. But I am not.
Number 4: "Check out my 2024 C-RyptoCurrency catalytic converter"
No. Just because someone drew some lines and "predicted" the price of BTC does not mean it will happen. What these people do is that they look at the prices of BTC every year, disregarding all of the important events that happened which pushed the price of BTC up or down, disregarded the events of governments who seized BTC from people and/or companies, disregard everything and just judge by the graphics they look at and say "oh yeah, it's going up/down now" and 9 times out of 10, it works until it doesn't. "Technical analysis" does not work. If it did, I would do my own analysis and definitely not share it with anyone, keep using it to multiply my money every couple of years and basically never work a single day in my entire life.
Number 5: "There are financial advisors who still don't talk about BTC/advice their clients to buy BTC"
Last, but not least, it's because they can't predict BTC. You guys have to understand what "unregulated" means. They do, because they only advice their clients when it comes to funds, stock market, whatever. Because those places are heavily regulated to protect the investors from predatory people. You don't hear an "influencer" constantly talking about how some company shares are "going to the moooooon" because he bought a whole bunch, basically owning 80% of of that company's shares (which is impossible when it comes to big companies, because they only let 30-40% or 50% of the company go public and even then, some shareholders are not even allowed to make any decisions regarding the future of the company) then that person quickly dumping on everyone. It only happens in some certain chatrooms and with small companies that are open to speculation. Because those chatroom apps refuse to share personal info with countries.
But for crypto, that's not the case. They can freely shill a lot of cryptocurrencies online and basically rug pull/pump and dump and get away with it. Which is a risky move. I mean imagine a financial advisor saying "oh yeah buy BTC, spend 30% of your money on it" and suddenly BTC drops by 30%, effectively causing the client to lose a lot of money, now that financial advisor has some explaining to do. What he could do instead is advice their clients about the risks of investing in certain areas like the stock market, certain stocks, certain funds, and let their clients know what to expect because of the laws and regulations regarding the aforementioned stocks and funds. And it is mostly accurate because, well, laws and regulations. If those companies promise their investors something, the financial advisors take their words and advice their clients to invest in that company and then the promises turn out to be empty, they are getting sued and they are getting sued big time.
That's why you don't hear anyone who is a financial advisor talking very highly about crypto or anything that is unregulated and very volatile. I hope these are enough to clarify all of those issues.
Stay safe out there and God bless.
Subscribe to:
Posts (Atom)