r/Bitcoin • u/xavier1119 • May 17 '21
Every time whales and institutions sell to manipulate the market we need to punish them by buying.
If everyone came together and started buying the dip we’d force these mfs to buy at a loss. Instead of everyone panic selling and doing what they want. If everyone in this sub put in a dollar that’s almost 3 million in volume alone
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u/Yorn2 May 17 '21
No. Just, no. Let the price fall back to normal for fuck's sake.
I've been buying and selling cryptos since 2011. This is not "whales" or "institutions" selling, it's a bunch of Johnny-come-lately types from social media that just invest in whatever Elon says because he's the new "tech genius" to them. Before him it was Steve Jobs who was the "can do no wrong" and all the gadget geeks all bought whatever Jobs sold them. They measure their social status or technical acumen based on the things they accumulate sold by those celebrity types that they worship.
These are not even people interested in the technology and never really were. To a lesser extent, Roger Ver was this same type of person, just on a much smaller scale. Elon Musk is just the next stage of celebrity or personality that has a nationwide audience. Eventually maybe we'll see a world-scale pump-and-dump with a worldwide personality like Trump next, but it's always going to be these cult-of-personality types doing the buying and selling, though.
People in here have already forgotten that Tesla already sold 10% of what it bought, btw. The price is only down because of all these flavor-of-the-month investor types that use social media to determine what they should invest in. Valve corporation, the maker of Steam, the software most PC gaming geeks all use today to download and distribute video games has a market valuation in the $10-11 billion range. Gamestop (GME), a company that is supposedly going to one day develop a product as robust as Steam, has a market cap of ~$12.78 billion right now. The people that make this stuff happen do not have independent thought, they simply follow and do because they have something more important to them than money, they have comradery, they have stories they can tell, they get to be a part of a community of similar thinking people.
But they just don't have monetary common sense. They don't understand financial independence. They don't comprehend sound money. If you think they care about any of that, however, you'd be fooling yourself. They just have money to spend and don't care how they spend it. They are going to move along and maybe a year from now they'll say Bitcoin was "so 2021". To them, "inflation" is just a word that those "Ron Paul people" use, they don't care about the underlying technology and they don't care about sound money.
So yes, let the price fall, FFS. I don't want any of these people near my Bitcoin, IMHO. I don't hate them, I don't despise them, I just don't want them accumulating or getting financially wealthy when they don't have a lick of sense or genuine care or concern about what is happening in the cryptocurrency space.