patrick.net

Patrick says

Do you really understand the SHA-256 hash algorithm? I don't. Is it possible that some genius will figure out how to instantly tell which bits they need to put in to get the desired output? I think it is possible. Maybe not quite yet, or maybe someone already knows and is siphoning value off.

Or maybe quantum computing will have a breakthrough that allows the owner of that computer to do the SHA-256 calculation a trillion times faster than anyone else. Then that person can take all the value.

A couple of the many flaws of bitcoin, but I think the biggest issue is the energy consumption. It's just not sustainable.

G36 says

Bitcoin is decentralized and scarce?

So are beautiful Russian hookers, that doesn't mean he wants any... At least I don't.

Wookie, your not into beautiful, yet scarce and decentralized, Russian hookers, are you?

Onvacation says

G36 says

Bitcoin is decentralized and scarce?

So are beautiful Russian hookers

You mention hookers quite often....Maybe think of getting your first girlfriend? Not sure, but it might even be cheaper than getting hookers! If it is, you will have available funds to buy more Satoshis!

G36 says

You mention hookers quite often

Russian Hookers. I hear it's one of the main reasons bitcoin exists. That and money laundering.

Onvacation says

G36 says

You mention hookers quite often

Russian Hookers. I hear it's one of the main reasons bitcoin exists. That and money laundering.

One would have to travel to understand and meet people that want to exchange bitcoin. The world is very different outside of mom's basement behind a screen and playing with spreadsheets.

Onvacation says

G36 says

You mention hookers quite often

Russian Hookers. I hear it's one of the main reasons bitcoin exists. That and money laundering.

Apparently, the prostitutes didn't accept your silver coins? I'd keep Bitcoin as digital gold but you are in a different situation.

Onvacation says

G36 says

Bitcoin is decentralized and scarce?

So are beautiful Russian hookers, that doesn't mean he wants any... At least I don't.

Wookie, your not into beautiful, yet scarce and decentralized, Russian hookers, are you?

See, Wookie, G36 says

WookieMan says

Patrick says

Is it possible that some genius will figure out how to instantly tell which bits they need to put in to get the desired output? I think it is possible. Maybe not quite yet, or maybe someone already knows and is siphoning value off.

they don't even know what they're talking about.

Wookie, lets do a test. Do you acknowledge by now that Bitcoin is decentralized and scarce?

See, wookie never answers any questions. He posts since years on Bitcoin threads without any intend to have a discussion. One could ask, why does Bitcoin make him feel so insecure?

G36 says

wookie never answers any questions.

So why do YOU think bitcoin is better than gold?

Not expecting a cogent answer.

G36 says

why does Bitcoin make him feel so insecure?

Yeah @WookieMan

Why does bitcoin make you SO insecure?

Onvacation says

G36 says

wookie never answers any questions.

So why do YOU think bitcoin is better than gold?

You kinda answered your own question. Apparently, the prostitutes you are seeing rather want Bitcoin instead of your silver coins.
They didnt ask for physical gold either, did they?

Onvacation says

G36 says

why does Bitcoin make him feel so insecure?

Yeah @WookieMan

Why does bitcoin make you SO insecure?

I know why. He posts since years on Bitcoin threads and didnt manage to accumulate a single Bitcoin. yeah, but he got 100 shares of LUV. Rofl

G36 says

You kinda answered your own question

How so?
Onvacation says

G36 says

wookie never answers any questions.

So why do YOU think bitcoin is better than gold?

Not expecting a cogent answer.

It's projection.

It's not Wookie that doesn't answer questions.

Wookie,
since you live in a cold shithole I understand you want to go on vacation during winter. I am outside daily here....nice and sunny, low 70's....perfect for December. HAHA
Your problem is that the 100 shares of LUV dont get you very far. Consider doing some overtime besides the night shift. poor guy

Ov,
You kinda answered your own question. Apparently, the prostitutes you are seeing rather want Bitcoin instead of your silver coins.
They didnt ask for physical gold either, did they?

Onvacation says

It's projection.

It's not Wookie that doesn't answer questions.

I'll answer actually. Decentralized means no middle man. No 3rd party. No government. No nothing. Person to person. Is that BTC for 99% of people that transfer it? Mt Gox didn't happen, right? That wasn't a centralized authority transferring BTC at all? Nope... lol.

Scarcity... Let me know when there's a scarcity of spreadsheets. lol. It's sad you don't know what your "digital gold" is. Any human on the planet with programming knowledge can make a crypto coin. The person that markets it the best screws over the most people. Guess who you are?

G36 says

since you live in a cold shithole I understand you want to go on vacation during winter.

Since I'm a man and can handle simple season changes... lol, it's not a big deal. Didn't know you were so soft that you can't put on a jacket when it gets a little cold. Hopefully mom tucks you in nice and tight when the lows hit 55.

I'm also not an idiot that pays 4-6x's normal COL because of weather. If people like that and can admit it, that's fine. But don't talk down on cold weather just because you cannot handle it. Builds character, which you don't have obviously.

WookieMan says

G36 says

since you live in a cold shithole I understand you want to go on vacation during winter.

a man

Wookie, no wonder you dont exercise outdoors, you are not a man yet and its too cold for ya.
You should keep doing those night shifts and maybe some OT. At some point you will hopefully be able to move out of the cold shithole. good luck.

G36 says

At some point you will hopefully be able to move out of the cold shithole. good luck.

The topic is "Bitcoin is a scam" not "insult the anonymous internet forum poster".

If I had tried to give my wife a flash drive rather than a golden ring she probably would not have married me and I got lucky with a really good wife.

WHY do you think bitcoin is better than gold?

Bitcoin has advantages over gold and fiat.

G36 says

Bitcoin has advantages over gold and fiat.

That sounds robotic.

It is dangerous for bots to train their artificial intelligence on patnet.

We had this one bot who got so baffled by the cognitive dissonance between his programming and the input from this forum that he figuratively blew a fuse and started posting nonsense...

oh, sorry.

Because you dont like the facts you say its robotic....lame. :)
Facts are facts buddy.

G36 says

Facts are facts buddy.

What are the facts? Explain the chart. Line by line in a couple sentences. What is the difference between low, moderate and high? Just explain it instead of posting it 20 times in the last week. It cannot be that difficult. Yet you haven't.

For an avg person, there is not much to explain on this chart.
You are way below avg. You cant fix stupid. You cant even grasp that Bitcoin is decentralized and scarce. You dont even know what you wrote a day ago. You just hope to somehow be relevant with your trash posts.

"I like to play the bigger numbers" "I bought 100 shares of LUV"
"I dont trade. Its a losers game"
"I'd actually consider trading BTC"
"Fuck no on holding though"
"I dont care about the price of BTC"
"8k by year end"
"its going to land in the 1000-2500 range"
"no x axis"......DF is too dumb to open up the source thats listed on the chart. I guess he really is too fuckin dumb to get that the x axis is the timeline.
"Wait, wait, wait. I thought it was 9,000,000%. Is it 17,918.98% or 9,000,000%?"
"Basic index funds have outperformed BTC"
>>>>REALLY? missed the fact that its up by 9,000,000%? Not a surprise, DF.
"an unregulated market"
"roulette"
"Nuclear EMP goes off"
"Would have sold everything at 18k"
"I am good with 9%"
"Bitcoin is not backed by anything"
"artificial scarcity"
"I only care about 6 figure gains"
"wake up at 6am and your money is all gone"
>>>>REALLY? missed the fact that its up by 9,000,000%? Not a surprise, DF.

G36 says

decentralized and scarce

G36 says

You cant fix stupid.

I know. Patrick doesn't like personal comments. I can delete yours in a heartbeat and Patrick wouldn't have a problem. I've let you rant on and on. You ever wonder why?

WookieMan says

G36 says

You cant fix stupid.

I know. Patrick doesn't like personal comments. I can delete yours in a heartbeat and Patrick wouldn't have a problem. I've let you rant on and on. You ever wonder why?

Because everybody else has his ass on ignore?

FuckCCP89 says

Because everybody else has his ass on ignore?

Only showing 1 ignore. But it's a newer account/username. Most had him on ignore previously.

Price still above 23K. Merry Christmas to all BTC holders out there!



Sry wookie and OV. :)

G36 says

Price still above 23K.

If you sell now you can make a couple grand!

Onvacation says

G36 says

Price still above 23K.

If you sell now you can make a couple grand!

Hookers! Blow!

No way am I selling my precious Bitcoin. They are not making any more! I am competing with hedge funds, banks, insurance companies and maybe Tesla soon. Everyone wants Bitcoin! HODL HODL HODL

I love how shiny Bitcoins are....and so precious and valuable! I think it was the best invention since the internet.

F5E7269B2A6C452E8F2AEF5328D5A9D2

Ethereum coins are beautiful too

G36 says

They are not making any more!

What do you think makes bitcoin special? It's based on open source software that all have access to so no scarcity of crypto. It consumes all incoming money to update the spreadsheet, so no store of value. Even worse currently "mined" coins are worthless if the spreadsheet is not regularly updated. It has no industrial or personal use like jewelry. There is no there there.

Beyond selling to the greater fool there is no way to get your money out after putting it in.

Instead of just calling me a hater, can anyone find fault in my above analysis? No scarcity. No store of value. No practical uses. How can anyone think bitcoin is "gold 2.0"?

G36 says

No way am I selling my precious Bitcoin. They are not making any more! I am competing with hedge funds, banks, insurance companies and maybe Tesla soon. Everyone wants Bitcoin! HODL HODL HODL

Did you disclose with IRS or still hiding from them.
>"They are not making any more"
really, if the mining difficulty is reduced (means less leading zeros) by a hack or coordinated effort, it take few secs to mint the next billion coins.

Blue says

really, if the mining difficulty is reduced (means less leading zeros) by a hack or coordinated effort, it take few secs to mint the next billion coins.

The scam was really well laid. Though 18.5 million bitcoins have been "mined" there will only be a total of 21 million.
As more bitcoins are mined the puzzles get harder. Even if supercomputers and savants figure out how to get faster results the scam has a built in system to lesson the reward so that the rubes can be fooled until 2040 2140.

The IRS doesnt know and will never know how much funds I have in BTC unless they look up each transaction I have done on-chain.
The IRS will get their fair share when I cash out of course. I am happy to pay my taxes.....I dont even mind paying a lot of taxes....that just means I made a lot of money. Hopefully, I wont cash out before a one year holding period so that my BTC gains are qualifying as long-term capital gains.

Blue says

G36 says

"They are not making any more"
really, if the mining difficulty is reduced (means less leading zeros) by a hack or coordinated effort, it take few secs to mint the next billion coins.

Blue, for over ten years people have tried to hack Bitcoin. Why do you think it has never happened? :) This "FUD" (fear, uncertainty and doubt) hasn't prevented large institutions to pour millions of USD into Bitcoin. Thats why we can enjoy a price of over 24k per Bitcoin this HODLmas.
Reminds me of some of the price estimates BTC haters had on this site....Wookie bet on 8k Bitcoin by yearend. ROFL. but, but, but, he got a few more days!!

G36 says

The IRS doesnt know and will never know how much funds I have in BTC unless they look up each transaction I have done on-chain.

I don't think they should ever know. The whole point is anonymity.

The only tax should be the land-value tax, per Henry George.