patrick.net

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.

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.

@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!

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.

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.

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?

@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.

Uh oh. Linking crypto to DOMESTIC TERRORISM.
https://news.yahoo.com/exclusive-large-bitcoin-payments-to-rightwing-activists-a-month-before-capitol-riot-linked-to-foreign-account-181954668.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr
You can see the writing on the wall.

G36 says

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

Didn’t perform as well as I did.

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.

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?

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.

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.

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.

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"

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.

lol
Thanks G

Onvacation says

lol
Thanks G

yw, and you know I am right

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.

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!

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.

G36 says

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

With silver, right?

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.

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!

Onvacation says

When he sell he gonna be a bitcoin billionaire!

I love news from the future!

personal

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.

It's NOT "digital gold ".

Some rubes even think they can do analysis, as if crypto were stock, and predict what might happen.

It's a Ponzi scheme. The only way you can get your money out is if you can get a bigger fool to put their money in. There is no store of value. It will not be the new currency. There is no there there, unless you are trying to transfer your ill gotten gains to another country.

Anybody here on patnet that want to debate the pluses and minuses of cryptocurrencies?

I can't think of any real plusses.

I have been asked why I hate crypto so much. I do not hate it I just see it for what it is, a well crafted scam that fools some people into thinking it has value

I know this dude with some Satoshis. He keeps bragging that his money has doubled to $97.

He thinks I should go down to the liquor store and buy some.

I fear I missed out.

Onvacation says

He keeps bragging that his money has doubled to $97.

Doubling one's money is a serious achievement!

FuckCCP89 says

Doubling one's money is a serious achievement!

Fuck ya! He's letting it ride.

HE GONNA BE A BITCOIN BILLIONAIRE!

I hear all the bitcoiners are buying ether.

One of the most common Bitcoin email scams is sextortion, which can come in multiple forms. The premise of this scam is that the scammers claim to have video or images of you during intimate moments, as well as access to your friends' and family's contact information. If you don't pay the requested amount of Bitcoin to the scammers, they threaten that they will release those images to your contacts or post them online.

Bitcoin dipped! Buy now! Buy The DIPS!
Or is it dips buy?

Can any of you gotcoiners help me out?