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Bitcoin Misinformation


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2020 Nov 10, 10:01am   133,332 views  2,169 comments

by Onvacation   ➕follow (4)   💰tip   ignore  



In my opinion, it’s a colossal pump-and-dump scheme, the likes of which the world has never seen. In a pump-and-dump game, promoters “pump” up the price of a security creating a speculative frenzy, then “dump” some of their holdings at artificially high prices. And some cryptocurrencies are pure frauds. Ernst & Young estimates that 10 percent of the money raised for initial coin offerings has been stolen.

The losers are ill-informed buyers caught up in the spiral of greed. The result is a massive transfer of wealth from ordinary families to internet promoters. And “massive” is a massive understatement — 1,500 different cryptocurrencies now register over $300 billion of “value.”

https://www.vox.com/2018/4/24/17275202/bitcoin-scam-cryptocurrency-mining-pump-dump-fraud-ico-value

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696   Eric Holder   2021 Jan 13, 9:43am  

Onvacation says
Eric Holder says
"Big Daddy to the Moon!"

Do you DENY the coming asymptote of riches?


I wouldn't dare.
697   Bitcoin   2021 Jan 13, 9:49am  

Smart choice! You dont want to short Bitcoin in a bull market :) 2021 will be fun (for BTC holders).
All you gotta do it focus on the big picture.
698   Onvacation   2021 Jan 13, 4:42pm  



Is bitcoin gay?

Not that there is anything wrong with that.
699   Bitcoin   2021 Jan 13, 5:16pm  

Onvacation says


Is bitcoin



at 40k?

no, its still at 37k.

700   Onvacation   2021 Jan 14, 9:20am  

G36 says
at 40k?

no, its still at 37k.

Moon shot coming. Don't deny the asymptote!
701   Bitcoin   2021 Jan 14, 9:43am  

Onvacation says
G36 says
at 40k?

no, its still at 37k.

Moon shot coming. Don't deny the asymptote!


Agreed! Dont short Bitcoin in a bull market! Dollar cost average and in the rare scenario of a dip....BUY!
702   Onvacation   2021 Jan 14, 9:47am  

G36 says
the rare scenario of a dip

Rare?
703   WookieMan   2021 Jan 14, 10:02am  

lol. And this isn't trolling? The typing contradiction continues as usual on a political and housing forum. Can't take the heat... says a lot.
704   Bitcoin   2021 Jan 14, 10:03am  

Eric Holder says
WookieMan says
Bitcoin down to 35k at the movement,

And then back up the truck?
Go big or go home. Back up one of these:





@WookieMan,
I could not agree more. Jan 11th was a great opportunity to buy! In a bull market those opportunities are rare. Look how quickly the price recovered! Back up the truck on dips!
705   Onvacation   2021 Jan 14, 10:09am  

WookieMan says
And this isn't trolling?


I never claimed to not be a troll.

"It's all Bullshit. You just have to believe in your own bullshit".
Old saying that my brother or I made up, can't remember which.

I believe G thinks Bitcoin is "digital gold" I believe it is a scam. Bitcoin is highly volatile with 20% swings in single days. It's double fiat; once because it is valuable because SOME people think it is twice because it's value is based on the value of fiat money.
706   Bitcoin   2021 Jan 14, 10:10am  

small correction,
G >knows< Bitcoin is digital gold.
707   Onvacation   2021 Jan 14, 10:12am  

G36 says
small correction,
G >knows< Bitcoin is digital gold.

Why?

Not expecting a cogent answer and please don't repost your silly chart.
708   Bitcoin   2021 Jan 14, 10:28am  

Onvacation says
G36 says
small correction,
G >knows< Bitcoin is digital gold.

Why?



The traits of money show Bitcoin has many advantages over gold and FIAT.
709   WookieMan   2021 Jan 14, 10:31am  

G36 says
The traits of money show Bitcoin has many advantages over gold and FIAT.

This never ends. You use FIAT to buy gold or crypto. By default it is disadvantaged out the gate. If we ever enter a time where you need gold for goods and supplies or crypto to do the same, you've got bigger problems. Guns and ammo would have been the better investment.
710   Bitcoin   2021 Jan 14, 10:33am  

@WookieMan
Thanks! Another good reason to buy crypto. You can buy a lot of ammo and guns with crypto gains. Just be prepared (to buy the dips) and buy ammo/guns when you take profits!
If you would keep your money in cash, you cant buy as much ammo and guns. cash doesn't appreciate 2x in 2 months :) My Bitcoin did!
711   WookieMan   2021 Jan 14, 11:16am  

G36 says
ou can buy a lot of ammo and guns with crypto gains.

You can also buy it with gains and income in tons of other areas. You don't know that though.
712   Bitcoin   2021 Jan 14, 11:34am  

WookieMan says
G36 says
ou can buy a lot of ammo and guns with crypto gains.

buy it with gains


Absolutely @WookieMan
Bitcoin has been the absolute best performer by far. We agree.
713   Onvacation   2021 Jan 14, 1:55pm  

G36 says
when you take profits!

Not counting paper gains, how much have you actually profited from bitcoin? Was it this or last year's taxable event?
714   Bitcoin   2021 Jan 14, 2:24pm  

@Onvacation,
I am up over 2x on Bitcoin alone (see my screenshots). In just 2-3Month! Once I start selling,I will make sure I brag about it.
716   WookieMan   2021 Jan 14, 4:16pm  

G36 says
Bitcoin has been the absolute best performer by far. We agree

Didn’t perform as well as I did.
717   Bitcoin   2021 Jan 14, 4:47pm  

WookieMan says
G36 says
Bitcoin has been the absolute best performer by far. We agree

Didn’t perform as well as I did.

@WookieMan
That's funny. you mean your tiny investment portfolio (100 shares of LUV)? ROFL I call that a tadpole investment portfolio. I almost feel sorry.
718   Onvacation   2021 Jan 14, 6:00pm  

G36 says
I am up over 2x

Only twice huh?

The ultimate result of the artificially limited supply of bitcoin along with the HODLer's who will NEVER sell combined with the steady loss of "coins" through forgotten passcodes is that an ever decreasing supply of freshly "mined" coins will get their price set at auction.

Currently the FOMO is off the hook 'cause someone can throw away $10, $100 or a thousand (usually those poor souls who can least afford it) on bitcoin at the local liquor store like it's a lotto ticket (retail buyers). That's why the current price is so high, bunch of money chasing a couple bitcoins.

Others just want to have some fun with crypto so they buy a piece of property in decentralandia and get a doggycoin to guard the backyard and hope for appreciation but genuinely love mowing their virtual lawn and feeding their virtual pets. Some people have fun gambling (speculating) with a little extra cash and we all know there is a lot of that around lately.

Ultimately the HODLers will have to pay a fee to prove that they have a bitcoin worth $353,080 or whatever fiat currency you can trade your bitcoin for, if anyone wants to buy it.

Ya wanna see the math and logic behind this?
719   Bitcoin   2021 Jan 14, 6:04pm  

Onvacation says

bitcoin worth $353,080

@onvacation
Yeah, I think you are right. Bitcoin (digital gold) is very undervalued at the moment. As of now I am only up by 2.8X for 2-3Month. But by the end of this cycle (this year maybe) we could see a 350k Bitcoin. I do agree. In these ultra bullish times its def possible.
720   porkchopXpress   2021 Jan 14, 6:11pm  

Is Bitcoin all that's worth investing in? Most other cryptos seem to serve some functional purpose, whereas BTC seems to be the main "store of value" investment.
721   Bitcoin   2021 Jan 14, 6:13pm  

porkchopexpress says
Is Bitcoin all that's worth investing in? Most other cryptos seem to serve some functional purpose, whereas BTC seems to be the main "store of value" investment.


Yeah, kind of a decent question @porkchopexpress
Man, get a shorter name. Maybe G37?

Bitcoin is digital gold. Or Gold 2.0. Or big Daddy. If Big Daddy moves, the rest of Crypto moves. At least for now.
Invest in Biddy and the top 15 coins (if you can afford it) and become a millionaire.
722   Bitcoin   2021 Jan 14, 6:18pm  

I actually think gold should change its name. Maybe into "Wannabe Bitcoin". "Gold" somehow implies there is something shiny, valuable. Its ridiculous. Bitcoin is Bitcoin and 100times better than gold. So why call Bitcoin Gold 2.0? We know its much better than gold....so gold should be renamed to "Wannabe Bitcoin"
723   Bitcoin   2021 Jan 14, 6:23pm  

and who cares about boring, physical gold anyways??? I have never met a single person who said, hey, I am so excited to buy physical gold!
Nobody....but everyone wants Bitcoin! I like to compare it to the Iphone 12 and a landline. Gold is the landline.
724   Onvacation   2021 Jan 14, 6:28pm  

lol
Thanks G
725   Bitcoin   2021 Jan 14, 6:31pm  

Onvacation says
lol
Thanks G

yw, and you know I am right
726   B.A.C.A.H.   2021 Jan 14, 7:52pm  

G36 says
I have never met a single person who said, hey, I am so excited to buy physical gold!
Nobody

I got a text from my niece minutes before reading your remark. She and her fiancee are excited about shopping for their wedding rings.
727   Bitcoin   2021 Jan 14, 8:04pm  

B.A.C.A.H. says
G36 says
I have never met a single person who said, hey, I am so excited to buy physical gold!
Nobody

I got a text from my niece minutes before reading your remark. She and her fiancee are excited about shopping for their wedding rings.


Thats what I am saying @B.A.C.A.H.
You dont buy Gold (wannabe Bitcoin) as an investment (because the ROI sucks compared to BTC). You buy it for a wedding ring but that doesnt mean its an investment.....its just jewelry.

We both know they wont make a 10x on their gold ring.

Its like saying some people invest in landlines, or some people invest in matchbox cars, or some people invest in useless silver coins.
No, Its just what some people do. Some people just dont want to learn how an Iphone works. You cant expect them to understand how to send crypto to a hardware wallet address.

Congrats to your niece! If you need an idea for most likely the best wedding gift: Buy them a few Satoshis and a hardware wallet. I bet they will be forever grateful. They might buy their first house with it!
728   Onvacation   2021 Jan 14, 9:26pm  

B.A.C.A.H. says

I got a text from my niece minutes before reading your remark. She and her fiancee are excited about shopping for their wedding rings.


A good friend of ours, while he ran a jewelry shop years ago, cast, polished, and engraved a couple of gold rings for my wife and I; a symbol to the world that we were taken. A thumb drive just isn't the same.
729   Onvacation   2021 Jan 14, 9:30pm  

G36 says
Some people just dont want to learn how an Iphone works.

With silver, right?
730   WookieMan   2021 Jan 15, 12:47am  

G36 says
That's funny. you mean your tiny investment portfolio (100 shares of LUV)? ROFL I call that a tadpole investment portfolio. I almost feel sorry.

Nah, over double what you made investing in spreadsheets. And then before you came back I was making that same amount after BTC was trash since Dec. 2017. You don't have to invest to make money. You'll maybe learn that one day. Keep playing with the high school drop outs though trading spreadsheets. At some point they'll get educated about what they're doing.
731   Onvacation   2021 Jan 15, 6:17am  

WookieMan says
over double what you made investing in spreadsheets.

He said he has not made anything. Yet.

When he sell he gonna be a bitcoin billionaire!
732   RWSGFY   2021 Jan 15, 7:42am  

Onvacation says
When he sell he gonna be a bitcoin billionaire!


I love news from the future!
733   Bitcoin   2021 Jan 15, 8:06am  

personal
734   Onvacation   2021 Jan 19, 6:21am  

G36 says
a hardware wallet.

AKA flashdrive.

You Rubes aren't going to convince anyone smart that crypto is anything more than a very power hungry money laundering gambling mechanism.
735   Onvacation   2021 Jan 19, 6:21am  

It's NOT "digital gold ".

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