It's definitely an interesting question. Ultimately it all comes down to confidence.
The MSM is desperately trying to erode confidence in cryptos: "Bitcoin is a bubble" ... "Bitcoin is only used for illegal activities" ... etc...
I've been trying to make up my own mind on these questions, but I think it's challenging because it's not clear if humanity will see the light, or fall for the propaganda.
"Humanity?" Humanity actually has it right. There's some very good reasons most people want nothing to do with Bitcoin. I'd work on "functionality" before you even start looking at "confidence" numbers in Bitcoin amonst the masses who don't even own yet. In the meantime, enjoy the price swings being brought to you by the Chinese gambling syndicates. trust me...if Bitcoin goes to $1000 those idiots will likely give up too. Chinese economy will hit the skids waaay before the U.S. does. Dumm mutherfuckers just decided they are going to price their oil trade in Yuan. Wait'll you see how that works out. Chinese are dummer than bitcoin addicts...and bticoin addicts all agree to let the Chinese price bitcoin. You crypto loonies need seeing eye dawgs...not paper wallets. Bunch of dumm fukks. Going to be fun to see you alll crying together. Greg will be sure to put in a whining post for you. :-)
Perhaps you'd care to put some skin the game and share some of your infinite wisdom on the right way since you seem to have it all figured out?
I'm about the only person here at steemit that actually posts live trades as I make them...and tells you what will happen "before" it happens. Since I post em "live!"...with price paid/sold and give you the exact options contract I am trading it really doesn't matter if I have skin in the game...does it? I welcome Greg or any of his kittens to attack my trades just as I attack Greg's trades. Only one guy found anything to attack me about so far. I have tons of spewage posted here at steemit. have at it.
If you read the post above, you'll notice it's not a short term trade, but a long term outlook. Please share your long term outlook. It's easy to say everyone else is wrong while not sharing a view of your own.
Put some skin in the game by sharing your long term view.
Long term on Bitcoin? How about some logic? "Actual" bitcoin didn't drop in price until U.S. exchange traded bitcoin led the way...every single time since every single high in each was made. And exchange traded bitcoin as measured by the ETF "they" are already "trying" to get options contracts traded on (GBTC) has already told us that it goes to $20....basically the low price on this chart over the past 3 years.
http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=gbtc&x=53&y=19&time=10&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11
My "take" is that I don't buy "depreciating" assets of any type as a HODL. My definition of HODL can be found here:
https://steemit.com/hodl/@joejustjoe/meaning-of-hodl-on-7-30-17
Ok, so now that we know you what you're not buying, how about telling us what your philosophy "actually" is? What is your eminence doing with his capital that is so ingenious?
Pretty simple logic actually. All assets are priced by humans. Humans always fukk that process up. Spot the price points where they have it fukked up to "maxi" human levels and take the long odds you are given by the gambling arena known as Wall St...to take the other side of that trade. Take $250 and put it into bitcoin at any time you want. I'll take the same $250 and gamble it on my lotto plays. You should follow my great calls but only if you want to make $$$. Check out this exit on my short trade in DUST yesterday. I can do this same shit with any asset you want to talk about.
Even Greg is in this purrtickler thread and he never leaves his home base and the kittens. He came over to cry about how all you guys were crying about me. Too funny. Anyhoo, my entry on the DUST short at 23.95 was posted on Tue I think it was ...my exit on the short was at the exact low yesterday. I even explined why. Go ahead and try and figger it out. Maalox Mannarino never will.
https://steemit.com/dust/@joejustjoe/8-10-17-in-dust-we-trust
Look at how eeeasy this shit is. My morning update to "the way things is" in the general market. No fukkin charge...and no fukkin maalox necessary whilst you trade.
https://steemit.com/sept17/@joejustjoe/9-17-2017-weekend-update-on-the-dollar-gold-silver-the-general-market-and-the-sexy-vixens
Actually, scratch that. As far as the gold (precious metals) sector goes I give this guy/gal a strong endorsement.
https://steemit.com/steemsilvergold/@handofzara/hui-september-19-2017-ante-up-or-sit-it-out-someone-will-call-gold-stocks-bulls-or-bears
@handofzara posts em at the end of the day. His system is a tad more "twitchy" than mine but 1) He'll make you money over time and 2) He won't get you kilt with every short term trade like Greg does. :-) I shoot for the "mythical" 1000%er on a buy/sell and hold trade for at least a week in duration.