patrick.net

WookieMan says

I don't understand the upset from BTC and crypto people

Its irritating to have all the "garbage presumptions littering a space" that guys like you use that blabber on irrelevancy instead of using that energy for some real DD so you can add something real and of value. You are 1 of the worst in presuming you know so much about how others approach the market and trade and yet you know nothing just like your knowledge of blockchain null and void.

Cash says

I will likely unload my BC position

to a greater fool assuming I get out in time.

Onvacation says

to a greater fool assuming I get out in time.

No worries I have several positions 1 at 13634 and another at 14872 and a SL just below 14800...

Cash says

WookieMan says

I don't understand the upset from BTC and crypto people

Its irritating to have all the "garbage presumptions littering a space" that guys like you use that blabber on irrelevancy instead of using that energy for some real DD so you can add something real and of value. You are 1 of the worst in presuming you know so much about how others approach the market and trade and yet you know nothing just like your knowledge of blockchain null and void.

Again. More upset. Thanks for proving the point. Invest and be a billionaire. I've said trade it and make money. Never said you couldn't. BTC has a lifespan. You don't guys don't have a counter argument, just upset and tell someone to go research it. I haven't seen one valid point why BTC will last another 50 years. None. I've researched it too.

Ride the pumps and be very afraid of the dumps. I cannot predict when, but BTC will be done at some point and you'll just tell me to go research it instead of explaining why, because you don't know what it is. You were conned. Which happens to everyone, so don't take that as an insult. I'm just being real and I think what you perceive as opposition here is frankly just a warning. Be careful.

I don't wish ill will on any fellow human unless I'm physically attacked. Otherwise be safe with your money. My former boss went BK by the hype to $20k with BTC. Destroyed his family. Just want to give you some perspective on where I'm coming from. You only hear about the BTC billionaires that you have zero backing data if it's true. Question everything, especially when there are no law or regulations with what you're investing in. People made a lot of money in the wild west, the vast majority didn't.

Cash says

WookieMan says

I don't understand the upset from BTC and crypto people

Out of context as always being that no one said anything near or about BC and 50 yrs you are such a joke... G36 and I are just sharing our current approach and you and yours assume you know so much beyond what is being said it is sicking.

Cash says

G36 and I are just sharing our current approach

Share the evidence of your spectacular winnings and you'll gain some credibility.

Not holding my breath.

FuckCCP89 says

Share the evidence of your spectacular winnings and you'll gain some credibility

You are a nobody and I can care less about what you or anyone like you thinks. I put it on the table take it or leave it.

WookieMan says

Again. More upset. Thanks for proving the point. Invest and be a billionaire

Talk about a red flag.

www.youtube.com/embed/Qoj__Sd66pE

Cash says

You are a nobody and I can care less about what you or anyone like you thinks. I put it on the table take it or leave it.

Then why keep quoting and responding directly to us? You clearly do care. You also have put nothing on the table. You're upset about our statements without explaining why BTC is a good investment. If I came on here and said public stock of Ford is going to the moon, wouldn't you question that? At least with Ford you have financials and required reporting of who owns what that you can somewhat trust. Do you not understand that is part of our rational? It's an indisputable issue with crypto.

FuckCCP89 says

Cash says

G36 and I are just sharing our current approach

Share the evidence of your spectacular winnings and you'll gain some credibility.

Not holding my breath.

FuckCCP,
I shared my screenshot, I havent claimed big wins.....I just starting putting money into BTC.

G36 says

I shared my screenshot, I havent claimed big wins.....I just starting putting money into BTC.

Just ignore them ;) They are so blinded they will be repeating and throwing the same monkey feces no matter how high the price of crypto might go. They have no concept of topic.

G36 says

Onvacation, for how long have you been on vacation and does that mean you are retired or you still have a job?

Cash says

G36 says

I shared my screenshot, I havent claimed big wins.....I just starting putting money into BTC.

Just ignore them ;) They are so blinded they will be repeating and trowing the same monkey feces no matter how high the price of crypto might go. They have no concept of topic.

Its too bad....i dont get why this has to be a hostile discussion. If someone doesnt like Bitcoin/Crypto for whatever reason, thats totally cool. I would never try to attack/convince that person. I am just looking for stuff that you post for instance. I want to learn and invest in Crypto, mainly Bitcoin. The fact that it has been around for so long and the fact that many Nasdaq listed companies are getting involved are valid reasons for me to believe there is a lot of upside for Bitcoin's price. The market cap of Bitcoin compared to Gold is also very bullish to me. I want to make more money and think that the chances of bitcoin going much higher in price are far greater than the risk of it losing value.

G36 says

FuckCCP,
I shared my screenshot, I havent claimed big wins.....I just starting putting money into BTC

Calm down. Most of the issue anyone here has is with the pumping and the long term value of it. People pump a position out of fear that it will go down. That's much of what the crypto people on this forum (and others) have done. It's an annoying tendency, isn't a conversation, and frankly is worthless. Crypto guys never give the why, just it's going to the moon.

And I'll repeat it again. You can make money on crypto. We're simply pointing out that it's not similar to gold or anything. It will go away. You guys just get upset and tell us we're uneducated on something that we may or may not know more than you about it. Just because you've invested doesn't mean you know a thing man. If I'm holding 2 million BTC (not dollars) I can yo-yo the market and take your money all day. You have zero clue if someone has that much. Zero. And it could be a group of people. Everything in life is to part you from your money. Crypto is no different.

G36 says

i dont get why this has to be a hostile discussion

Me neither, they must have some kind of marvel hero syndrome wanting to save us. lmao Take a moment and search Bitcoin and read some old post you will
see they have already made fools of themselves. They don't understand that the banks lost to crypto and thus the reason they now have the authority to be custodians and investors in crypto for their clients. If you can't beat them join them thats what the banks have done, lots of companies are preparing as well Paypal, MasterCard etc. My belief which I actually have some skin in the game is there could be massive gains for those willing to educate and speculate..

Hi WookieMan,
I am calm I just shared my screenshot (again) because FuckCCP asked for it (again). I thought that would be a good thing. I am not trying to pump anything. I dont care what people invest in. I am looking to discuss the topic. I think Cash shared same valuable info and perspective, thats the kind of thing i am looking for. I am not interested in calling people idiots or greater fools because they invest in something. I dont think there is any reason to attack or get upset or hostile over Bitcoin :). To me Bitcoin is a store of value/Digital gold. Thats why I invest in it. I dont feel offended if you think its trash. Totally fine by me.
I also dont predict a certain price. I would hope it goes up tremendously but i am prepared for it to swing heavily one side or the other. As i said, my long term strategy is to buy and hold. I might change my strategy and start trading it...thats why i am interested in hearing what others do (like cash).

I saw other posts from you. We share the same views on a lot of things. Crypto apparently not. Totally fine. All good man!

Cash says

you are such a joke..

When you can't refute their logic attack their person.

In every con there are the ones who make money and the rubes who lose it. If you don't know who the rube is, it might be you.

Onvacation says

When you can't refute their logic attack their person.

That is exactly what you rubes have been doing from the start.... Project often do you? LMAO

G36 says

I saw other posts from you. We share the same views on a lot of things. Crypto apparently not. Totally fine. All good man!

I like your style. I'm not here to shit on anyone. I simply don't trust crypto. I want people to make money. Everyone should. I'm purely saying be cautious. Thank you for your candor. My misconceptions of crypto people being jags 100% of the time has shifted now. Seriously.

WookieMan says

G36 says

I saw other posts from you. We share the same views on a lot of things. Crypto apparently not. Totally fine. All good man!

I like your style. I'm not here to shit on anyone. I simply don't trust crypto. I want people to make money. Everyone should. I'm purely saying be cautious. Thank you for your candor. My misconceptions of crypto people being jags 100% of the time has shifted now. Seriously.

Thats awesome! Thanks man

Cash says

there could be massive gains for those willing to educate and speculate..

Educate the people that have yet to buy?
Speculate that those you educate will buy?

Bitcoin takes massive amounts of electricity to maintain and ultimately all you own is a string of 0s and 1s on a flash drive. Why does anyone think there is value in this?

Huge Bitcoin seizure:
https://arstechnica.com/tech-policy/2020/11/feds-seize-1-billion-in-bitcoin-from-silk-road-drug-marketplace/

rocketjoe79 says

Huge Bitcoin seizure:

Just a continuation of a case started in 2013

Onvacation says

Bitcoin takes massive amounts of electricity to maintain and ultimately all you own is a string of 0s and 1s on a flash drive. Why does anyone think there is value in this"

Is that all you got lmaol
Banks do lmao https://cointelegraph.com/news/jpmorgan-turns-bullish-on-bitcoin-citing-potential-long-term-upside now they can become custodians and investors for their clients.
https://www.occ.gov/topics/charters-and-licensing/interpretations-and-actions/2020/int1170.pdf

Millennial do as G36 shared
https://www.ccn.com/generation-bitcoin-90-of-millennials-prefer-crypto-to-gold-etf-expert/
https://markets.businessinsider.com/currencies/news/gold-bitcoin-jpmorgan-older-investors-buy-gold-millennials-prefer-bitcoin-2020-8-1029471716

There have been some awesome arguments made for crypto legitimacy as a decent speculation/investmet take it or leave it no 1 cares.

Cash says

There have been some awesome arguments made for crypto legitimacy as a decent speculation/investmet

OK, I'll bite.

What is the intrinsic value of bitcoin that makes it a good investment?

Just a reminder from Webster's

in·​trin·​sic | \ in-ˈtrin-zik , -ˈtrin(t)-sik \
Definition of intrinsic
1a: belonging to the essential nature or constitution of a thing
the intrinsic worth of a gem
the intrinsic brightness of a star

For example:
Gold is intrinsically valuable because it is shiny, doesn't corrode, and conducts electricity very well.
Silver is intrinsically valuable because it is super reflective and is used in many industrial processes.
Real estate is intrinsically valuable because it can be used to live on, farm, or build a business.
Stocks are intrinsically valuable because they represent a share of an ongoing business.

Please finish the sentence:

Bitcoin is intrinsically valuable because...

Not expecting a cogent answer.

Cash says

Onvacation says

Bitcoin takes massive amounts of electricity to maintain and ultimately all you own is a string of 0s and 1s on a flash drive. Why does anyone think there is value in this"

Is that all you got lmaol

Am I wrong?

Onvacation says

Please finish the sentence:

Bitcoin is intrinsically valuable because...

Not expecting a cogent answer.

Like I say all you want to do is be presumptive while being insulting. This is the argument you decide as you may no 1 cares https://kraken.docsend.com/view/ehvdmebb8gkveecj?utm_source=content+announcement&utm_medium=email&utm_campaign=bitcoin+intrinsic+value&utm_content=content+link

Paper money has no intrinsic value, it's just a medium of exchange. I'd rather not have to carry around bags of salt or beef jerky to trade for nails and food.
Bitcoin is being used on the darknet for drug trades, buying kidneys and who knows what else.

rocketjoe79 says

Bitcoin is being used on the darknet for drug trades, buying kidneys and who knows what else.

and fiat isn't?

rocketjoe79 says

Bitcoin is being used on the darknet for drug trades, buying kidneys and who knows what else.

I know people who have started businesses with crypto gains, bought property and have donated mass amounts to charities of all sorts.

Cash says

Like I say all you want to do is be presumptive while being insulting.

Not trying to be insulting but my research has revealed that crypto implemented as a "currency" is a Ponzi scheme dependent on the next greatest fool for anyone in the system to make a profit. It has no intrinsic value and it takes massive amounts of electricity just to maintain. If the miners quit tomorrow digital "Gold" would evaporate into the ether.

Cash says

This is the argument you decide as you may no 1 cares https://kraken.docsend.com/view/ehvdmebb8gkveecj?utm_source=content+announcement&utm_medium=email&utm_campaign=bitcoin+intrinsic+value&utm_content=content+link

Can you summarize why you think Bitcoin is intrinsically valuable?

Onvacation says

Can you summarize why you think Bitcoin is intrinsically valuable?

I have wasted enough time on you, your opinions have zero value to me as do mine to you..... Have a nice life....

rocketjoe79 says

Paper money has no intrinsic value, it's just a medium of exchange

Paper money is backed by the good faith and credit of the issuing country and can be freely exchanged for goods and services. Freely as in no transfer fee.

What backs bitcoin other than the faith that someday someone will buy your bitcoin, hopefully for more than you payed for it including the transaction fees?

rocketjoe79 says

Paper money has no intrinsic value

I disagree with that. The dollar is backed by this. https://www.globalfirepower.com/country-military-strength-detail.asp?country_id=united-states-of-america

I dislike war, but if you don't want to use our fiat, our military can make you change your mind. Bullies are ass holes, but I'd rather be the bully than the victim. And it's what backs our currency. Then there's natural borders like the Pacific and Atlantic that make a successful attack a near impossibility without using nukes. Mutually assured destruction should prevent that. Resources in the ground. Massive amounts of fresh water easily accessible (bigger deal than most will recognize with growing populations). Guns. Our populace could fight for itself. These are actual things that back the dollar.

Will it last forever, no. But these are assets that help to support the dollar for the foreseeable future even though prices on everything will continue to go up and debt will increase. It's never getting paid, we just have the power to tell everyone to fuck off by killing them. That's the MIC in a nutshell and why we have it.

Cash says

Onvacation says

Can you summarize why you think Bitcoin is intrinsically valuable?

I have wasted enough time on you, your opinions have zero value to me as do mine to you..... Have a nice life....

Got it. You got nothing.

Others beware. When someone tells you they own this crypto and you should get into it because you can make a lot of money ask them how. If the answer is because it is the currency of the future ask them why. If they say it is the new "gold" ask them what intrinsic value does it have. If they have no answers don't be the next biggest fool.

Onvacation says

Others beware. When someone tells you they own this crypto and you should get into it because you can make a lot of money ask them how. If the answer is because it is the currency of the future ask them why. If they say it is the new "gold" ask them what intrinsic value does it have. If they have no answers don't be the next biggest fool.

There may be many bigger fools though - having said that, I wouldn't touch it.

Can anybody explain, exactly, how a bitcoin is divisible? It appears to me that the more a coin is divided the more networking power and time there is needed to validate it.

The main problem I have with it is that the problems it purports to solve it doesn't. Almost everybody has their bitcoin in an exchange, which is essentially an unregulated bank. They've never actually tried to move a coin from one wallet to another. Transaction times are enormous so really, it is NOT divisible - you can't buy a pizza with it - possibly you could purchase a car or house with it. It's traceable as well since nearly everybody keeps it in exchange.

Don't know when the tulipmania ends, I just know it does.

You know what is historically low? Oil. Generally 1 ounce of gold purchases 1 barrel of oil. 1 barrel of oil right now is about $40. $40*15 = $600 and one ounce of gold is about $1950.

Richwicks, I have my BTC on a Trezor device. I know that much, dont leave significant amounts of Bitcoin on an exchange. If I lose my Trezor I can restore it with a key.
My 1.9 BTC are divisible. "A bitcoin can be divided down to 8 decimal places. Therefore, 0.00000001 BTC is the smallest amount that can be handled in a transaction"
Or, are you asking something else?

Again, I wouldnt want to buy a Pizza with it :) and no starbucks coffee. I dont want to buy a house/Car either with it. I want to buy/hold and see the value go up.
I dont think Bitcoin is meant to replace the dollar for day-to-day purchases. Personally, I see it as a form of diversification/inflation hedge/digital gold/store of value.

I agree with Wookie, the dollar is backed by our economic and military strengths.

G36 says

FuckCCP89 says

Cash says

G36 and I are just sharing our current approach

Share the evidence of your spectacular winnings and you'll gain some credibility.

Not holding my breath.

FuckCCP,
I shared my screenshot, I havent claimed big wins.....I just starting putting money into BTC.

It's a good start. But the past performance is also important (even though they always add "does not guarantee future results" disclaimer). =))