Bitcoin Crashes Below $1000 After SEC Rejects ETF

The technology underlying bitcoin will be copied by govts and become the basis of future means of exchange but Bitcoin Mk1 will be killed off first.

It must be amazing to have the power to see into the future. You must be very proud of your incredible talent! For my part, the only thing I know is that I don’t know.

So many people like you feel it is their god-given duty to rain on the parade of others but what if you’re wrong? Do you have any idea how many people have attacked Bitcoin investors as being “dumbasses” or “ass clowns” … only to see Bitcoin’s value continually rise?

BitCoins

You have every right to choose what you personally wish to invest in. If you don’t believe that Bitcoin is for you, that’s fine, but why do you feel you have to crap all over the judgment of others? We are all adults and, as such, responsible for the consequences of our own decisions. For those of us who have placed our faith in Bitcoin, we are fully aware that it is an extremely volatile asset and therefore carries a much higher level of risk than PM’s. That’s the risk we chose to take. Don’t worry, we won’t come crying to you if it all goes belly-up in the future although we fully expect you and your ilk to scream “I told you so!”

What bothers me most is that the behaviour of the PM crowd here is no different to that of the crybaby, leftist, snowflakes … YOU MUST THINK LIKE ME OR ELSE!!! It reminds me of the hatred that exists between those with sailing boats and those who have powered craft.

Look, at the time I chose to buy into BTC they were at $47 and I thought I had arrived to the party too late. I never had any idea what would happen in the coming years. My only goal was to stop losing money on the bank bonds I had in my portfolio. 3 years later, last May, BTC was valued at $422 and I was more than impressed so I began recommending it as an investment to people I knew that could do with such a healthy return. Everyone, without exception, was convinced that at $422 BTC had definitely reached its summit and so chose not to buy any. By November last year they sorely regretted that decision.

The same thing happened in December. “$935 – that has to be the top. It’s just too good to be true. I will buy some when the price comes back down to $700.” And then what happened?

You know, if it had dropped to $700 these people would still have said “Fu**ing hell, I’m glad I never got into that. I would have lost almost everything!” That’s the way losers are. They have all the answers and none of the money.

So, I’m going to finish this mini-novel with a tiny paragraph that sums up this situation perfectly:

– Some people make things happen.
– Some people watch things happen.
– Some people wonder what happened?

Edit: and if you don’t believe those last 3 sentences, I have lost count of the amount of people that said to me “It’s alright for you, you got in early.”

via Zero Hedge

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