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philpima1957 has it's own versatility style which is difficult to follow or copy
You are doing a pretty good job following in aspects of his from time to time dogmatisms.
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the concerns about Coinbase's inventory management and potential market control. However, it's essential to consider the exchange's perspective and the challenges they face in managing volatility.
"One possible solution to address the inventory management issue is for Coinbase to implement a more dynamic pricing system. This could involve adjusting prices in real-time based on market fluctuations, rather than relying on fixed prices that may become outdated quickly.
"Regarding market control, it's crucial to recognize that Coinbase is not the only player in the market. Other exchanges and market participants also influence price movements. While Coinbase's practices may have some impact on market volatility, it's unlikely to be the sole determining factor.
"Moreover, Coinbase's business model is designed to facilitate transactions, not manipulate markets. Their goal is to provide a reliable and secure platform for users to buy, sell, and store cryptocurrencies.
"Rather than focusing solely on Coinbase's practices, we should also explore alternative exchanges and business models that prioritize transparency, decentralization, and community involvement. By promoting a more diverse and competitive market, we can reduce reliance on any single exchange and foster a healthier ecosystem for cryptocurrency trading."
Why bring up a post from 2014, and how is that relevant to today? Can you speak as an actual person rather than as a bot using AI?
O.k.. I just checked the text of your post on Grammaly, and it said:
"100% of this text appears to be AI-generated" Why should any of us want to chat with a bot about a more than 10 year old post? Are you adding any value, here?
hisslyness pointed out your botness (AI-generatedness), too.
Maybe you should read it several times before you write something - because it's not about someone buying $500 worth of BTC, but about someone buying 28 000 BTC at $500. I'll just say that he had bad timing, because if he had bought during 2015, he could have gotten twice as much BTC for the same amount.
Yeah, but so what? People make these dumb kind of arguments all the time, and we largely don't know how our bitcoin buys are going to play out into the future because the future is not known.. even though retrospectively it might look clear.
if you recall the story of Tim Draper, he was new to bitcoin in 2014, and one of his sons told him to try to get some of the auctioned bitcoin blocks that the US Marshalls had recovered from silk road (or I think it was silk road coins.. or it could have had been something else. The were like 10 blocks of 3k BTC each, and the BTC price was around $600 per BTC at the time, and there was a bit of a mystery about how much was going to be bid on the coins, and I think that many folks thought that the prevalent strategy was to bid under the spot price in order to try to get the coins cheaper and then maybe to dump them after getting them.
Draper ended up winning all 10 blocks so he ended up buying more than 30k BTC for like 10% more than the current BTC price, because Draper later reported that he thought that his son was recommending that he try to make sure that he wins the blocks, so Draper interpreted that as bidding above the BTC spot price, so then Draper was surprised that he won all of the blocks. Maybe he felt foolish for a couple of years, since his coins were in the negative, but they finally clearly came out of the negative in late 2016, and he is not looking that foolish right now, even though sure, yeah, he could have had gotten his coins cheaper.. especially through late 2014 and through 2015, even though BTC prices did bounce between $250 and $500 in late 2015, but then came back down to $300 to $420 and then did not clear $500 again until the end of May 2016.
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