RAC - Charts & Price Action, page-5922

I know you were just kidding with this comment, but I want to highlight something important here, from a purely 'game theory' perspective regarding this investment game we're all playing. Six years ago, a friend of mine was extremely enthusiastic about Bitcoin. He insisted it was the next big thing. His excitement nearly made me uncomfortable, but I knew him well enough to invest 12% of my net worth at the time in this so-called "cryptocurrency", which was a pseudoword at the time. Actually, maybe pseudoword is also a pseudoword? Stop.

Well, enthusiasm is contagious. Maybe less contagious than something you might find at Revolver at 4am on a Sunday, but more contagious than what you might be required to wear a mask for during your next domestic flight. And sometimes a conversation over a tipsy conversation over a cigarette at Revs can change the course of your life (for better or worse, but probably worse, generally speaking).

At that time, everyone apart from my friend insisted that Bitcoin was a gimmick. Someone actually told me the concept was more futile than Richmond's chances of winning an AFL premiership. Funnily enough, Richmond won the premiership the year after, and I was lucky enough to make millions of bucks thanks to Bitcoin, but mainly thanks to my zealous friend's encouragement. I am not saying this to brag, I am simply highlighting a point. I did not invest that much money in Bitcoin back then, but things multiplied quickly over the course of time. I weathered the storm of everyone taking the piss out of me when I told them I'd bought a "coin-pouch" that made no sense to them, and I stuck in there. They didn't understand it, so they thought it was silly. The truth is, I still don't understand it, but it's worked well enough that I can sneak a few martinis in for lunch after a round of 18 holes, any day of the week. I can't complain.

While I do sometimes enjoy sifting through forums like this, filled with like-minded, goal-driven, testosterone-fuelled wizards seeking to make a buck... The thing is, we all want more bucks in our pockets. That pursuit never ends. We are goal-driven animals. You never reach a point where you've got enough. Enough is never enough. What would you do if you had "enough" ??? You'd become a stagnant loser. You'd decay quicker than a glue-sniffer's braincells. My point right now is simple... You used the word FUNDAMENTAL... The definition of the word is: forming a necessary base or core; of central importance.

What's important? Is it making money? Is it curing cancer? Recently, I read that a man who celebrated his 100th birthday was asked what he thought contributed to his longevity, and he answered, "Smoking! I have been smoking every day of my life since I was eight years old." Another lady, dying of throat cancer at the age of 33, said that she had never smoked a cigarette in her life. My mother never smoked or drank, yet she died a very painful death at the age of 64. My father drank like a fish. He broke every health code. He never read anything concerning what he should eat in order to live, he just lived. He ate what he wanted when he wanted it. He drank what he wanted when he wanted it, and died at 88 from sheer exhaustion. Having these two examples before me, I don't believe in this nonsense relative to what I should eat and drink. I will wear out this body like a pair of sneakers. Look around, who is in shape, by the way? I might indulge in a long lunch four days out of seven, but why is the one who always tells me what is "healthy" looks like someone who is unhealthy? Anyway, who is really alive? Who is actually living? Who is actually making sense of it all? People use all of these concepts, like Fibonacci charts to try and justify their predictions about the future. They may as well read horoscopes in the newspaper. What's the difference? I get it. Nature. Patterns. Golden ratio. Whatever, isn't it all subjective? Sometimes I hear someone at a roulette table say "it's been black for ages, it has to be red this time" and I think to myself "fair enough."

I reckon, when you're onto something good and most other people don't believe in it... Take that as a positive sign. Ride the early waves and then look out. It's really such a silly, simple game. If it's been black for ten spins, the eleventh spin HAS TO BE RED. (Jokes). Fools rush in, and fools also know everything about everything, just don't expect them to demonstrate how they know everything -- just know that they do... Anyway, use whatever logic seems coherent for you on a fundamental basis, but most importantly, have a lovely day.

P.S. I reckon we're in for a good week on this frontier. How do I know?...