This is something that is heard a lot lately and it is what is called an appeal to accomplishment and leads into an appeal to authority. Make sense? Very basically it is someone saying I know what I am talking abut because I have done it a long time which makes me an authority on this. There is nothing really wrong with this *if* there is supporting evidence presented that qualifies the speaker as an authority. 

How often does evidence get presented in crypto?

TL:DR
- False appeals to authority
- The game is changing
- Having patience is important
- The banking industry are not stupid
- They play a very long game
- Don't become complacent

https://i.imgur.com/T5pneaE.jpg

This is the issue though as some people are actually both *experienced* and *successful* yet, they are often the ones not to advertise it.

There is another problem here also as *time in* doesn't mean *skill in* and if they really were so skillful throughout that time, they would have plenty more powered up here, just because they can. If you have been successful in Bitcoin since 2010, swimming with the largest whales here is pocket change. Well, perhaps people's definition of *'success'* varies a great deal.

But, there is another factor that I find interesting and that is the ability (or lack of ability) to adapt to the changing marketplace. From the early days of Bitcoin, there have been massive changes in the way things work and there are always more coming. Those who learned to operate early but haven't learned to change their behaviours are likely going to run into some issues in time.

People also seem to think that if someone doesn't have time in, they are going to struggle but, this is again a fallacy as developing experience or the skills to be successful do not necessarily require to be in the marketplace a all. This is something that I think the cryptosphere does not grant the banking systems. Too many seem to think that the banks *'won't be able to do this'* when in actual fact, they made this game and they have been playing it in a myriad fields for hundreds of years.

I always find it interesting when people who say they are not affected by the FUD being spread are constantly buying into and repeating the FUD. If you think the banks don't know what they are playing at, you have bought in to their play.

One thing that crypto people are terrible at is having patience as the market demands fast turn arounds on big dips and speedy climbs. It becomes a habitual process. What we see in the dips at Steemit is an indicator of how fast people get impatient and how quickly they lose their nerves and rage quit or demand this and that. Banks must love watching the squirming as people struggle to hold on as they watch the dip continue to dip and finally release the hand. How many times in history have the banks played this game before?

What people call a long hold in crypto is the equivalent of day trading in terms of the bank positions. They don't care about these daily ups and down as they are looking for years of growth and are willing to drive prices downwards for years if needs be. They are patient and for them it is just a waiting game to buy dips, drive a recovery and then cause more dips. And the current volumes and prices are tiny, insignificant amounts for them.

What some people seem to think provides protection from the banks is the technology itself as the banks do not know enough about the intricacies of blockchains and their capabilities. At least when it comes to market behaviours, they don't need to know details as it is driven by sentiment and they are the masters of game theory and manipulation of masses. 

Do you think you can outplay them?

Who knows, perhaps some of us can outplay them, but people need to be a little bit more frosty and a little less complacent when it comes to their evaluations of the *'new players'* in the market as it is quite possible that from day one, they already have your measure.

For those who have been in crypto all this time and have not managed to become very large whales have you recognised why? Did you hold or did you release your hand thinking you had a good deal? The banks *never* release their hand, they rent it out and put the masses in debt and then do you know what that makes them? 

*The* authorities. And, they can prove it. 

Taraz
[ a Steemit original ]