I understand the theories about Crypto Currencies being a scam.
“The whole thing is about to fall apart”, they tell me.
And yea maybe.
That’s entirely possible.
I don’t really care that much either way. If it goes up, I hope to profit from it. And if all the coins go to zero, I’ll make sure I’m not in them.
Other people losing money long crypto in that scenario is not my problem. I don’t have the slightest interest or the time to care about other people’s portfolios.
And I say that only to reiterate that I’m approaching this conversation with a very open mind.
Because we all know that the Bitcoin maxis and Ethereum folks can rarely have a civilized conversation, particularly with those who might disagree.
So to be clear, I do not care at all.
I’m much more interested in what’s for dinner tomorrow than I am worried about whether Bitcoin is going to a million or zero.
Now with all of that out of the way, I think you have to be out of your mind to be short BTC or ETH if they are above their prior cycle’s peak.
Here’s what that looks like: [Read more…]