Translation of the original post written on 17th of November, 2020:http://www.wonabru.org/big-short-na-bitcoinie-czyli-szykujmy-juz-pampersy/:
Well, what can we expect more except title? I wrote about it before http://wonabru.org/2021/05/28/bitcoins-todomon/ and I rather confirm it.
There is such an anecdote. As “bootblack” tells how to invest well, it’s time to leave the crypto ship. In my opinion, all financial instruments are Ponzi Scheme, or in short financial pyramids. There is no production there, and those who f..ck other people, earn money. The creator of some financial instrument, or event, earns the most. Then his successors, and…. nobody else. The rest is left with all hands in the potty.
These whales, or sharks, wind up the boom and trick the small fishes to buy. What? I don’t want to talk ugly. They usually cram the people sh..t. Doesn’t that smell like a pyramid? There are several thousand plankton for each whale. These words are highly offensive, but they are not my imaginations. It is the invention of the “larger” fishes as the rude term for the “smaller” ones to feed their pride. And it must be admitted that “pride goes right before failure” – quotes Robert.
Soon they will start feeding us with fear. Probably it will start with quantum computers that can break the keys on bitcoin and ethereum. Here you can find out that 25% of bitcoin coins are at risk of being attacked by a quantum computer most likely currently owned by Google. How many such possibilities are unknown to the public? Only no one with a quantum computer is interested in a couple of billion dollars. They are not even going to do this so that people are not aware that they have such opportunities. I think breaking the codes of hostile armies is more important!
I do not give more than a month on big short on bitcoin, that is, driving without a hand on a bare horse. Of course I am not an oracle. This is just my guess. Let us remember in finance 1% feeds 99% and this is and has been for centuries. 1% invent new fashion, trends and sell these sh..t for the rest. Someone said that each instrument is a bubble, only sometimes it lasts longer 😉
What we go to the shop and buy the largest size diapers and wait for the whales decision – “when”. The most important thing in finance is the timing when we enter and exit an investment. Everything is a pyramid or a bubble. The only important thing is the time you get out before it breaks.
Take comfort, this is not the fault of quantum computers, but of human greed.
I will finish, because stores are closing soon; D
wonabru