Bitcoin: The Noble Scam of the Digital Age 🎩💸

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Lo and behold, the critics emerge once more from their shadowy alcoves, Bitcoin clasped in hand like a scandalous love letter, to proclaim it a “scam” with the vigor of a jilted suitor. Ah, yes-how poetic, how utterly human, that when the price falters (as all mortal things do), the heart turns to venom, and the mind, desperate to soothe its wounded pride, seeks solace in labels sharper than a serenade from a scorned poet. 🎭

Enter stage left: Shanaka Anslem Perera, a bard of the blockchain, who whispers not of markets but of psychology-a word as slippery as an eel in a bathtub. He invokes the spectral spectacles of Kahneman and Tversky, those sages of sorrow, whose “prospect theory” posits that losses sting twice as fiercely as gains delight. Imagine, dear reader, the agony of watching your digital doubloons evaporate like morning dew upon a gambler’s brow! 🧠💡

The Tragi-Comedy of Emotional Bankruptcy

In a soliloquy delivered to the masses via X (formerly known as Twitter), Perera mused: “When the market’s tempest strikes, the retail investor, much like a spurned lover, craves an explanation as dramatic as the pain itself. Thus, ‘scam’ becomes the dagger hurled into the void.” A void, I might add, often filled with margarita mix and regrettable life choices. 🍹

“You need an explanation that matches the intensity of that pain,” he wrote, as if diagnosing a patient who’d mistaken a stock chart for a horoscope. “‘Scam’ fits perfectly.”

Perera, ever the cynic draped in data, notes that 70% of retail traders-bless their impulsive hearts-sell low within a year of buying high. Meanwhile, the stoic long-termers, those monks of the Hodlers’ Order, have historically emerged unscathed even when buying at peaks. “Every ‘scam’ call,” he quipped, “is a wealth transfer receipt.” How delightful for the accountants of the apocalypse! 📉

The Dance of Fear and Greed

As Bitcoin languishes in “extreme fear” (a phrase that sounds suspiciously like a TikTok trend), economist Steve Hanke declares it “valueless”-a pronouncement as shocking as learning that water is wet. 🌊 Yet, amid the cacophony, buyers cling to fundamentals like desperate sailors to a mast, while sellers, “shaken by 2021’s ghost,” retreat into the arms of their technical indicators. The stalemate drags on, a duel at dawn with no pistols, only spreadsheets. 📊

Perera’s ledger of time reveals Bitcoin’s ROI (-15%) trailing gold (+65%) and the S&P 500 (+14%) over a year-a dismal report card indeed. But stretch the timeline to three years, and BTC gallops ahead at +422%, with gold and stocks trailing like tired ponies. Since its inception, Bitcoin’s returns have bloomed by 2 million percent, while gold and stocks merely yawned. 🌹

“Markets punish impatience before they reward conviction,” declared one sage. Another pondered why investors “struggle to build positions slowly,” to which Perera replied: “Humans chase quick gains like cats chase laser dots.” 🐱

And so the saga endures-a ballet of folly and faith, where the only certainty is that tomorrow’s critics will pen the same tired sonnets to yesterday’s losses. But fear not! For in this grand theater of finance, even the word “scam” becomes a punchline, a feather in the cap of those who dared to dream in code. 💻

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2025-12-17 21:46