Bitcoin. Ponzi's over. Trust me. RIP Hodlers. for BNC:BLX by MrRenev

Time to predict the future...
I've been holding this one and trying to just post trades so I can keep being right, but whatever I don't care anymore.
This is pretty likely anyway.

Look at this:
2009-2010: Inflation, first people make money
2011: first bubble
2013: 2011 adopters telling everyone how they made money, new bubble.
2014: People that got in the ponzi before 2014 tell every one they know how they made money.
2017: New people join the ponzi. The public this time.

Bitcoin might have value, but it has been going up just like a ponzi. And now the public joined. The only new money that could join is financial institutions, the pro's.
HEY 10-20K HODLERS YOU REALLY THINK THE PROS ARE GOING TO JOIN THE PONZI LAST? REALLY?
Not delusional at all..

If we don't get a massive crash now we'll get next bubble.
Why is it guarenteed?
Because if we don't and simply maintain the uptrend, in 11 years 1 Bitcoin is priced 1 billion usd.
That's beyond desilusion. Trust me, it won't happen.
So now either a miracle happens and the public comes back in and we go up up up and THEN the huge crash, or we simply go down very low. 3 digits maybe even.

Doesn't mean we can't have pumps on the way down. Great chance to open shorts.

BTC crashing is nothing special no surprise, so I'll probably won't even post updates.
I explain the reason why in this video:

I created a twatter account :) Maybe I'll post stuff there.
If I get followers on twitter I'll show how to spot the bottom (it's easy ... very easy... if you didn't know already...).
I'll point out when the bottom has been reached and we're in accumulation phase.

+++ I am not a financial advisor (good luck finding one in crypto). I only post for trollertainment. Trade at your own risk +++

Trade active:

Shorted 6900$ but not very high volume, not the best entry, but the price has the potential to get pumped up to 8000$ before going down...
Even 9k. But not that likely we go up more than maybe 7500 because the bounces get more and more pathetic, while they'll still be people falling for it, less and less do.

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You see it's virtually impossible we don't go down.
If you were to try and figure where the bottom is you could try asking the public till when they hold, but they are ashamed and don't won't to look stupid so they won't tell.

Here's the dillemma:
* On one side millions of plebs "know" they just have to hodl BTC will make them rich, last times it went down 85% and still went up and the hodlers got rewarded.
* On the other side as long as they don't sell and "release the supply" we'll never go up.

The reason why we'll never go up as long as they don't sell is new people from the public won't join when they see the thing crashed like this, the public ONLY joins AFTER we go up. The public needs to see some green before they buy.
The only people that will buy Bitcoin are the smart money people.
But guess what? Smart money isn't called like this because they buy high from plebs. They'll wait as long as it takes. If the public never sells their Bitcoin, smart money won't ever buy. Smart money does not give a single fk about Bitcoin, they have hundreds of commodities to look at where the public has surrendered allready. They don't feel the need to "not miss out" because they're not retards.
So if what it takes to capitulate is the strugglers to die of old age and give their Bitcoin to their children which will sell because they're not emotionally attached, then that's what it'll take.

I don't think it will take as long.
The public probably drew some lines on coinmarketcap with paint and is thinking he's a hero because he hodls. So we'll have to go below these lines.
If the herd is prepared to Hodl at 1k, then we'll go below 1k.

"But a billionaire will buy the whole supply if we go to 1k"
Yup 100% right. And a billionaire bought at 7-8k. And pumped the price. And then dumped on the public. Good job lads good argument. Bulletproof.

"But this is the future we are going to be free of these mean bankers the public takes the power back"
Hey genius, a couple hundred people hold half of BTC supply, it's way worse than with real money.
"It's different these guys are part of the public wohoo take from the rich give to the poor".
KYS.

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The herd is incredibly good at being wrong.
Because of their mastermind secret knowledge "Bitcoin alwyas goes up I won't fall for it" in 2017 the price never really corrected and we kept going up and up and up and inflating the price.
Well boys, this time is when it won't just bounce and the more u hodlers hodl the more you'll lose.

We clearly are near the sell off phase that ressembles the scene where a pirate hanging onto his ship is holding his bars of gold and won't let go.
The pirate really SHOULD let go...

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Remember we never were bearish on Bitcoin during the period mid April to 1rst June. It's the part of spring people prefer, and when they're the most positive.
Won't risk going short during that period, but I'll still buy dips. Won't buy bull breaks in a downtrend as I'm not retarded.

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Chart + fundementals as to why it's impossible for Bitcoin to keep going unless the fundamentals see a MAJOR change. Or we pump energy directly from the center of the galaxy I guess?

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To be fair I should call it a pyramid scheme, "ponzi" is just for fun XD

This is unbelievable simple, it's astonishing how simple it is, but well when I was at school the herd was struggling to understand -- = + and ++ = + cringe, or a simple multiplication holy shit actually in elementary I had to sit there for months so tards could understand that, alot gave up on why we can't divide by zero,

But here it is:
"For a pyramid scheme to make money for everyone who enrolls in it, it would have to expand indefinitely. This is not possible because the population of Earth is finite."

Wow no way! So you're telling me hodlers are wrong? There isn't magical money shooting out of Satoshi's butthole that will make everyone rich af?
No lambo?

People that joined at 20k weren't at the top of the pyramid... when your cashier gives you financial advice, you know you're at the low of the low...

Btw, Warren Buffet was probably lucky when he joined at the base of wave 3, but who knows, maybe wave 5 will be even greater?
And then... ABC as we sink into nuclear worldwar... better get rich before this happens...
Oh shit unless the giga ridiculous stock market rise was actually wave 5 ermaghad.
It's all over the islamists will rule the world.

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The herd in crypto that doesn't understand they joined after global mainstream coverage keep mentioning how "haters" (probably THEM if they had been around back then, irronically) said Bitcoin won't even go up in 2011 (when less than 1% of the population knew about it).

When compared to the last bubble that went bust, the dot com in 2000, they keep mentionning how "haha sure Google Amazon and Apple sure never recovered cringe gtfo clown I'm getting a lambo".

Why don't the peasants mention:
Startup.com, Friendsters, gov.works, Napster, Pets.com, kozmo.com, geocities, boo.com, webvan, Silicon Access, eToys.com, Fast-Chip, theglobe.com, Lexra, IP Semiconductors, Dr.Koop, Entridia, lastminute.com, Stargate Solutions, Netargy, Hywire, Teradiant, FastChip, Excite, jewishnet.co.uk, Acorn Networks, freeinternet.com.
Bigger companies than google...

Even some of the giants that survived (Cisco, AOL) have still not recovered to their past price, 20 years later.

I'd gladly drink their tears when they go bust, but they sure won't be around to take it like a man, nah they'll disappear and remain very silent and very hidden.

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LOL Apple capitulation wtf???

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Amazon accumulation zone was actually so hard to detect, but you'd be looking at other NASDAQ companies anyway.

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I'm bored. These are the facts:

- Bitcoin might or might not survive these next years. Don't see any reason preventing it from going to 0, don't see anything holding it back.
- Bitcoin is NEVER going to replace banks. N-E-V-E-R. Heard the expression "when pigs fly it will happen", well "when the public is capable of remembering and safely storing their passwords" Bitcoin will replace banks. So never, I know right? :)
No reason people can't have 200$ wallets to buy stuff on the internet thought.
- The public doesn't choose something because "it was here before" or for some "fundemental" virgin reasons. A cool name is more important that virgin stuff.
- Most shitcoins will disappear or go very low. Everybody knows that?
Even if some few neckbeards stay to keep mining dead crap, they can't mine hundreds of shitcoins...Who's mining ElephantCoin now?
- Not 100% sure of that one but 99.9%: If all crypto's fall, die, there will be 1 left. Which one? Dogecoin. Stop laughing, I'm serious. Bloody Dogecoin man.

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Another fact for ya League Of Legends players.

So you got the organised sophisticated pro's that are waiting for the public to capitulate before they accumulate. In front of them you have emotional amateurs that think they can win by holding hands together shilling crypto and hodling.

Take SKT-T1 at their best. With 5 pro coaches, replays from every game, analysts that know every single move their opponents did, super mouse super everything.
Their opposing team: a bunch of disgusting bronze Yasuo and Zed mains that all want mid and top and troll if support, rage when "ks" and think typing "gj" in chat is teamplay. They're persuaded they can win with their supperior yasuo mecanics and if they stay positive and never give up.

Who would you bet on?

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Reminds me of smurfing in this peasant elo bronze-silver 25-0 shaco literally 1v5 winning teamfights (2v5 with clone) "We'll never surrender you might be good but you don't have teamplay like we do". XD
Peasants just love getting humiliated I guess?

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Copy pasted from
"" During the late ’90s, Silicon Valley venture capitalists and New York City investment bankers used phrases such as “monetising eyeballs”, “stickiness”, and “B2C” to justify the ridiculous valuations of Internet companies. They claimed that conventional methods were inapplicable in valuing the dot-com companies — which had no revenue — because they were entering into an entirely new economy.

Believing these people and being afraid to miss out on the gold rush, small-time investors, grandma and grandpa, and barbers and taxi drivers invested their life savings in companies such as Pets.com, Webvan, and eToys. The bubble burst, and they lost everything. Through a transfer of wealth in the billions of dollars from Main Street to Wall Street, venture capitalists, unscrupulous CEOs, and bankers had effectively enriched themselves at the expense of hundreds of thousands of ordinary investors, leaving them to despair about their futures.

History is repeating itself now with Bitcoin. This time, it isn’t just Main Street US that is about to lose its shirt; it is the developing world. Technology has made it possible for hypesters in Silicon Valley, China, and New York City to fleece anyone, anywhere, who has a bank account and an Internet connection.

The story that Bitcoin victims are being sold is one in which, on the basis that we cannot trust government-issued currencies, Bitcoin is the future of money. One hypester calls Bitcoin “a gift from God to help humanity sort out the mess it has made with its money”. A PayPal director predicts that Bitcoin’s price will reach $1 million in the next five to 10 years; asset managers say it is the new gold.

This is complete nonsense. Yes, the price of Bitcoin may yet double or even quadruple — because its price is based on pure speculation, and these stories are feeding such speculation. But Bitcoins’ market price is almost certain at some point to crash and burn, just as the dot-coms did, and for the same reason: because it is all hype. And there will be no one to turn to when it does, because no government or bank is backing it; and the people who are hyping Bitcoin will have cashed out and be long gone.""

Couldn't have said it better.
The math sure suggest it could be the largest ponzi in human history.
I'll later look at the definition of a ponzi point by point and see if we can call crypto currencies that or simply a pyramid scheme.

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Official definition:
"A form of fraud in which belief in the success of a non-existent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors."
Crypto fits the description.

Points to look for ():

1. High investment returns with little or no risk.
The vast amount of shill "Bitcoin always goes up" "That's what they said last time" "If you HODL you'll get your money back, this is just noise"

2. Overly consistent returns.
Crypto doesn't fit this point.

3. Unregistered investments.
:)

4. Unlicensed sellers.
:)

5. Secretive and/or complex strategies.
:) "Magic internet money that keeps coming in because it's magical and can never fall and replace the banks" "If BTC spiked 15% in 10 seconds it's normal".

6. Issues with paperwork.
Not Applicable

7. Difficulty receiving payments.
Hmm if you get in early and sell on the way up you'll receive payments, otherwise, for most people, applies.

Forgot by SEC. Not being able to get your investment out
Cryptos are meant to be anonymous, privacy from the government etc. Whoever sold to you, won't give you your money back.

If Ponzi's were invented and improved by treacherous murdering women, why is Ponzi the name we remember? XD

Notice how pyramid schemes are targeted towards women so much?
And how crypto is full of crypto ladies?

Ponzi: a scam invented by women, for women.

My conclusion: PONZI.

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To be clear.

Blockchain: Technology
Bitcoin: Currency based on the blockchain technology
Bitcoin mania: PONZI

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Oh it seems I was overly bullish in this "overly bearish hater" idea :D
Here is my updated count: