Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
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Sanrith Descartes
I was forced to self-deport from the /pol thread
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Flobee
Ahn'Qiraj Raider
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So in case you don't know its a common Bitcoin meme that its the lifeboat and the fiat system is a sinking ship. Notice the lifeboat is orange. Meme originates from this excellent video
reavor
I'm With HER ♀
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I mean I guess he's trying to convey that the fiat system is the Titanic and he's on the life raft that is bitcoin, but since Bitcoin is the biggest loser right now it really just looks more like the Titanic is the bitcoin market and he's selling to get his life raft
Sanrith Descartes
I was forced to self-deport from the /pol thread
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Jysin
Bronze Baronet of the Realm
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Arden
Vyemm Raider
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Difficult to understand how he carries any credibility whatsoever. I realize he used to be a sharp market analyst but he's been so bad for so long at this point.
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Arden
Vyemm Raider
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Yeah, I have kind of a similar theory.
I think manipulating low-info investor sentiment on behalf of whales has been his true purpose for quite a while now. I'm sure he is handsomely compensated too. So in that way, "the institution" doesn't want to see him go. And he's been such a reliable inverse indicator that the savvy investors don't mind keeping him around either.
It just floors me that he still pulls enough credibility that his terrible calls influence investors in any way other than inversely.
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Fogel
Mr. Poopybutthole
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Arden
Vyemm Raider
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Sure, but the guy does exist, and he is wrong most of the time, and yet he remains a supposedly credible financial source. Those are the things that boggle my mind.
Kithani
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Rangoth
Vyemm Raider
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damn! I just bought more puts on MSTR when it was up today(and once again already made money lol). This thing is on a death spiral.
while the inverse Cramer thing is hilarious and I’m all about it, the ETF matching it is preforming terribly. I’ll admit I didn’t read the prospectus or know how it tracks his tweets or whatever because I don’t actually care. But it’s not even close to beating market last I looked.
Arden
Vyemm Raider
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Yeah I looked in to inverse Cramer. It didn't fail because Cramer was good. It failed because Cramer makes tons of quick, TV-friendly calls that aren’t meant to be traded mechanically, so trying to short everything he mentions just created a messy, high-turnover portfolio that bled costs. On top of that, the market generally goes up over time, so a strategy built on shorting as a default is fighting a rising tide from the start.
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