'...For many of them, including not a few on this boat, screwing over other people for your own gain is not just a side effect of economic philosophy, or proof of concept. It is a sacred calling. To them, the presence of thieves and Ponzi scheme dealers means the new free market is thriving.'
'...This is no less bonkers and a lot more good-hearted than the five talks I’ve just sat through where people in suits declared, and I am barely paraphrasing, that bitcoin will go up forever, taking everyone in the room with it until we leave this mortal plane and ascend into the ionosphere where ICOs rain chocolate money and there is no death.'
The sentiment charts are very interesting but I do not understand why 'we take a contrarian view to crowd sentiment'? Surely if everyone is buying then this means that price will go up? Please explain as I do not understand
SaltaLargo posted: The sentiment charts are very interesting but I do not understand why 'we take a contrarian view to crowd sentiment'? Surely if everyone is buying then this means that price will go up? Please explain as I do not understand
... this explains why there are usually buyers and sellers willing to participate at most price levels. If this was not the case, we would really just be witnessing large gaps and erratic price action. In fact, you should find merit in this case as you compare a liquid futures market to an illiquid one that has fewer participants. The illiquid markets will have more gaps and volatility with more unpredictable price action.
Nouriel Roubini @Nouriel 'Your pseudo logic is totally idiotic. Yes I am not a scatologist buying cans of shitcoins worth 0 or rather negative with their environmental externalities. It is an investment choice: I am not a masochist HODLer losing 95% of my wealth in a year. Get a life u conflicted lakey'
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