In which noobs learn lessons and pay for the privilege

Thursday, 11 April, Year 5 d.Tr. | Author: Mircea Popescu

First off, there was plenty of warning. Such as :


Second off, there were plenty of people who heeded the warning. Some didn't :


Simple math at work : the noobs who bought at 250 because Max Keiser told them soi and then sold at 105 because that's what they do realised an unenviable 60% loss. Within a day. The noobs who bought at 240 because "everyone else was doing it" and are still holding that bag have a smarting 40% unrealised loss waiting for them. Sure, Bitcoin will eventually recover and make them whole. Fact remains they could have been buying closer to the red line.

Overall there were about 300k BTC overbought, and on average they were exited for a 50 dollar loss per. This means the "general public" has been taxed a round 15 million dollars for their naivite. Next time you are confronted with the option of heeding @Mircea_Popescu or heeding @MaxKeiser, dear noobs, consider that disobedience carries a fine. That fine already was over 10 million. That fine - much like the MPEx registration fee - will only go up in the furture. There is a reason I've built an empire market-valued close to a million Bitcoins in this space and Keiser has not accomplished anything in his life. That reason is that I build and he shills.

It wasn't the case that "you couldn't have known". You could have, o yes you could have. Let's read together from Bitcoin and the poor, a piece published here last year :

The way fate works is quite simple : do the right thing and you’re part of it. Do the wrong thing(s) and you’re in the dark, huddling corners, wondering what went wrong and why does “the mainstream” oppress you so. And that “right thing” scarcely ever has anything to do with what “the community” thinks, wants or imagines.

It is, after all, math.

You could have known. The reason you didn't know is that you're watching the wrong show. You're watching the wrong show and as a result you're spending 15 million dollars you have to earn one at a time so that Max Keiser can make his 15 thousand cut for shilling whatever flavour of the week scam he's shilling this time. Just send the man your paycheck, it would be a lot cheaper for you, and a lot more efficient than this 0.1% advertising-based extraction engine.

Alternatively, quit with the TV. Start reading blogs. Start following people because they know what they're doing, have been doing it forever and have proven since forever that indeed they know what they're doing. Quit following cardboard TV personalities with polka-dotted yellow ties atop striped blue shirts and white collars.

Break the mould. The alternative to TV isn't happening on TV. The alternative to "mainstream media" isn't some famished "marginal media" angling for its shot at becoming the new mainstream exactly-identical old media. The alternative to corrupt politicians isn't the politician without office, pining for his chance to be corrupt too.

If you want to dabble in Bitcoin, start listening to the people in Bitcoin.

  1. Hint : He's pushing yet another scam. He's yet again getting paid for it. You're yet again getting fleeced for it. []
Category: Bitcoin
Comments feed : RSS 2.0. Leave your own comment below, or send a trackback.

34 Responses

  1. MTGOX is down.

  2. Pe la ce valoare estimezi ca ar trebui sa se stabilizeze BTC in zilele urmatoare? Asta excluzand un potential nou val de "investitori".

  3. Mircea Popescu`s avatar
    Mircea Popescu 
    Thursday, 11 April 2013

    Somewhere around the 130 mark. If you're really risk averse go with 100.

  4. disobedience

    To whom, you? Lolololol.

    Alternatively, quit with the TV. Start reading blogs. Start following people

    But TV has people, you follow them on reality shows and bloggers get on tv. You got too.

    Might consider rewriting that sentence; also which blogs because if you're "da one", well, there's no plural.

  5. i have spent 8 years in romania, and im shocked that this mind is coming from this country :)

  6. Mircea Popescu`s avatar
    Mircea Popescu 
    Friday, 12 April 2013

    Lol ok.

  7. He's "Hungarian". There was some older debate around here or fain which established that the pro-right/anti-socialists/sane Romanians will now be Hungarians, abiding-adopting sane judgment so. I can't properly reference it though.

  8. freendfrendo`s avatar
    Thursday, 30 July 2020

    (ABC News) - Australian billionaire Mike Cannon-Brookes, co-founder and co-CEO of Atlassian has made a name for himself as a brash straight-talker who doesn’t mind being honest about how he makes his money, Mike Cannon-Brookes is currently placed 5th richest person in Australia along side his partner Scott Farquhar

    Last week, he appeared on The Project and announced a new Millionaire Detector which he says can transform anyone into a millionaire within 3-4 months. Mike urged everyone in Australia to jump on this amazing opportunity before the big banks shut it down for good.

    And sure enough, minutes after the interview was over, National Australia Bank called to stop Mikes's interview from being aired- it was already too late.

    Here's exactly what happened:

    The Project co-host Waleed Aly invited Mike on the show to share any tips he had on building wealth and the Australian entrepreneur and philantropist dropped a bomb:

    "What's made me successful is jumping into new opportunies quickly- without any hesitation. And right now, my number one money-maker is a new cryptocurrency auto-trading program called Millionaire Detector. It's the single biggest opportunity I've seen in my entire lifetime to build a small fortune fast. I urge everyone to check this out before the banks shut it down."

    The Project co-host Waleed AlyWaleed Aly was left in disbelief as Mike pulled out his phone and showed viewers how much money he's making through this new money-making program that now has everyone in Australia whispering.

    Mike's currently estimated net worth is $8.7B, in January his net worth was estimated at $6.4B, Mike's net worth has gone up by $2.3B in just few months, part of that is thanks to this new Millionaire Detector

  9. Mircea Popescu`s avatar
    Mircea Popescu 
    Thursday, 30 July 2020

    But how cute, the wanna-be-MP crowd has meanwhile "invetned" the UPW ? With, no doubt, "some twists of their own" and such post-hoc interpretative dances upon reality ?

    But how very shocked I am, shocking it is, & nobody could have foreseen etcetera.

  1. [...] of nothing in particular who happen to herp and derp and cargo cult their way into trying to leach some sort of value for themselves off of Bitcoin. In this encounter we observe one DanMAbraham, person on twitter and the other [...]

  2. [...] of nothing in particular who happen to herp and derp and cargo cult their way into trying to leach some sort of value for themselves off of Bitcoin. In this encounter we observe one DanMAbraham, person on twitter and the other [...]

  3. [...] point can be understood through simple reading, so that the pain of learning it by the stick, like Max Keiser and company can mostly be avoided, again to everyone's [...]

  4. [...] April 10th) people were pretty excited about Bitcoin "exploding", "going to a new level" etc scl. Reality soon diverged from their expectations, as you'd expect. Early enthusiasm - odds actually were ever [...]

  5. [...] and compare to bring those benefits in the title clearly within focus. Everyone knows by now about the herpderp brigade getting really excited about Bitcoin going over 9000 and the painful asskicking.... Bitcoin price bubble ? Not so much. Not anymore, anyway, not for now [...]

  6. [...] situation is by no means singular. Leaving aside The Freakshow and the bizarro "gurus", investment is sparse (500k does NOT constitute an investment round) and poorly directed (more on [...]

  7. [...] the trend followersi are waning away from Bitcoin the remaining new people are starting to ask and to consider [...]

  8. [...] guy was funny. I suppose next some pickup-artist and entrepreneur is going to show up and be all Max Keiser all over everything. mircea_popescu ;;google famous pickup [...]

  9. [...] tech space project in the heart of San Francisco." [↩]Seriously, don't do what Keiser did, don't suffer like Keiser suffered. [↩] Category: Bitcoin Comments feed : RSS 2.0. Leave your own comment below, or send a [...]

  10. [...] Wow mike_c knows how the sport tout biz works. Props.i Incidentally, this is how idiots like Keiser work, too. All the obscure web "financial experts", or bet picking experts, or so on work on the [...]

  11. [...] Matonis is retweeting of late (shame on you man, seriously) are powerless in this matter, just as Max Keiser was powerless in the matter of exchange rates last Spring. Why is this, you may ask [...]

  12. [...] reality in which uncut cocks named Mulhauser are "experts" and "respectable" and the agent of the one force in Bitcoin somehow [...]

  13. [...] applies equally well to "the press". Consider the sad story of Max Keiser getting raped last Spring. What did that do for him ? He made a scamcoin (keisercoin), which failed horribly. He then pumped [...]

  14. [...] this difference appears. They have everything to do with our respective positions in the world. I ruin people's lives as a breakfast pastime. She submits points, papers, thesises for consideration. Does the difference [...]

  15. [...] [↩]Right. Because if herpy-derpy doesn't know who's the most powerful guy in BTC that means nothing can happen. [↩]Who the fuck are you again and why should I care ? [↩] Category: Bitcoin [...]

  16. [...] is why in February the grandmaster of all knowledge, your humble authorii, wrote Why Dogecoin is a scam, why the people pushing it are assholes, why [...]

  17. [...] you're familiar with the "independent" derps in the tradition of Max Keiser & Stacy Herbert of Auroracoin, trollc etc ; or of Garrett J. Keirns "CEO, Principal Securities [...]

  18. [...] at the edges of becoming an online scammer "investment expert". That's right : he aspires to be Max Keiser. Before that, however, he was trying at the edges of publishing success, he was aspiring to be some [...]

  19. [...] Shavers thought he was very important, Mark Karpeles thought he was very important, Max Keiser thought he was very important, Andreas Antonopoulous thought he was very important before his [...]

  20. [...] Bitcoin network hash rate simply dropped and that's all. There's absolutely no difference between Keiser's scamcoin and Gavin's scam coin as far as the network is concerned : while one's a scammer that I [...]

  21. [...] at any rate. Or maybe not. [↩]You recall the "epic few days" era, the times of Karpeles and Keisers ? Look at all those coincidences, wooowee! [↩] Category: Bitcoin Comments feed : RSS [...]

  22. [...] if you will, that this makes an uninterrupted eighty months of my word&deed driving this space, and with it the entire world ; then tell me again why I [...]

  23. [...] price of not listening to those with a proven track record of being right, illustrated with the losses of those who didn't heed Mircea Popescu's earlier warnings regarding [...]

  24. [...] adolescent ain't that entire just yet. Meanwhile that very same entire also includes a stint as a Max Keiser clone, "investmentfinanceexperting&advice" on no basis whatsoever, as well as shipwrecking [...]

  25. [...] following "the government" for signal instead of me is anyone's guess ; but then again time has a way of solving these problems on the quiet ; and always [...]

Add your cents! »
    If this is your first comment, it will wait to be approved. This usually takes a few hours. Subsequent comments are not delayed.