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RE: I was thinking about shorting BTC; Luckily I did.
You are a very brave man to go against this monstrous rally.
I think it may have been wiser to wait into November as we get closer to the 2X fork, as there may still be lots of buyers looking to "cash in" on the split by accumulating more bitcoin ahead of the fork.
Bitcoin may very well be overvalued right now, but it can stay overvalued for a very long time!
Bitcoin's way of handling evolution is just stupid. In 3 years there will be 20 different bitcoins (cash, gold, 2x, ...).
People will feel cheated and cry but you should not invest in this "mining" monopoly. You'll just end up losing vs these corporations.
"Bitcoin's way of handling evolution is just stupid. In 3 years there will be 20 different bitcoins (cash, gold, 2x, ...)."
I agree 100%. I was really hoping that Bitcoin would never split precisely for this reason. The success of Bitcoin Cash, at least the mere fact that the chain is stable now, set a horrible precedent. If there was more willingness to negotiate between both sides, it would have never come to this.