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Bitcoin Misinformation


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2020 Nov 10, 10:01am   137,603 views  2,177 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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850   WookieMan   2021 Feb 3, 4:06pm  

G36 says
yes....sad! But there is hope....convert into ETH and start making some money! It will be enough for a downpayment in IL!

Or just keep living in the shit hole that CA is. You don't get it. That's why you'll lose.
851   Bitcoin   2021 Feb 3, 4:16pm  

@WookieMan,
how can we help you with BSDS?


We can lead a donkey to the water but we cant make it drink.
852   WookieMan   2021 Feb 3, 5:37pm  

G36 says
We can lead a donkey to the water but we cant make it drink.

Yup. Keep leading donkeys. Takes a ton of intelligence for that. lol. Might want to come up with a better analogy.

You're not dealing with a donkey. You are the donkey. Keep up.
853   Bitcoin   2021 Feb 3, 6:07pm  

Sorry, @WookieMan,

BSDS can lead to anger. Lets try to keep it civil. After all you are a moderator. Please read the rules and leave personal attacks out. We are here to discuss the success of Bitcoin. We dont want to get you banned.

@Patrick
854   Patrick   2021 Feb 3, 6:08pm  

Let's see, can I summarize and understand the conversation?

G36 Has made a bet on crypto and has great hope in that bet to improve his life. It may turn out well or not. He would like others to join him in his bet for maybe two reasons:
1. If they do, his own bet benefits through their bet. Maybe that's kind of a cynical interpretation.
2. If they do, he has more fellow believers in his bet, which provides a pleasant sense of community and confirmation.
To have his bet dismissed as foolish is painful.

WookieMan does not feel the need to make that bet as he does not feel that his life particularly needs improving. He dismisses G36's bet as foolish. G36 reacts to that by looking for possible ways to make WookieMan feel bad in turn, such as pointing out the harsh winters in the Midwest, or the possibility of missing an easy way to make a lot of money.

My own opinion:
- G36 might be right and actually get rich from crypto. Could happen, and it's hard to argue with wealth legally obtained if it does. I would not make that bet myself because I don't understand the value of crypto beyond hiding illicit proceeds from the law, and from taxmen, and being independent of the Fed. Certainly there is some value in those, but I don't know how to put a number on it.
- WookieMan seems to have a fine life, but gets baited into responding to G36's responses, and so it goes on.

Everyone else gets some entertaining conversation and gets to think about the issue from two points of view.

I hope I didn't offend either of you.
855   WookieMan   2021 Feb 3, 6:22pm  

Patrick says
I hope I didn't offend either of you.

You can't offend me. Neither can G36. I'd rather see him wealthy than not. Seriously. I can come across as a dick, but I'd likely buy the guy a beer and give hime shit for the back and forth here.

Crypto is a scheme. His posts are spam. Maybe he doesn't know it. Maybe he does. I can't say for certain. Cash seems to trade and could have made money, but likely has to cover losses on bad bets depending on timing. Either way, take the last 2-3 digits off BTC and it's not all that impressive the last 3-4 years. No one here is holding $50 coins. $36.000 as a valuation just looks impressive. It's the 5'2" guy with a 5" cock that looks like a footlong at the right angle.

Ultimately it's not about me. It's about others that stumble upon this site and think crypto will get them rich (and other sites). The games has 90% been played out at this point. Your odds of winning are almost nothing. It's dangerous. Not bashing Trump, but this is no different than drinking bleach. Trade it if you have the skills, but it's a pure shit investment for 99% of people. This is fact.
856   Bitcoin   2021 Feb 3, 6:22pm  

@Patrick
I believe WookieMan is a fraud/fake. He seeks success in life but continues to fail. None of his comments made any sense, so how can one believe anything coming from WookieMan. At first i believed he is just a troll. But now I believe he has Bitcoin derangement syndrome. WookieMan commented for years on Bitcoin threads but hasnt managed to buy a single Bitcoin yet. The sad thing is, he is a moderator but cannot have a discussion without getting personal. 2021 will be a bad year for him since Bitcoin will continue to increase in value. I bought Bitcoins at 15K in November. One Bitcoin is over 35K now. All the other cryptos I am holding (ETH, ADA, DOT, LINK) increased by several X.

Here are some of his comments:

"It will make its way to $8k at some point, but I was wrong with year end"
"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.

WookieMan has BSDS and we need to help him.

857   WookieMan   2021 Feb 3, 6:27pm  

G36 says
The sad thing is, he is a moderator but cannot have a discussion without getting personal

Lol, man. I've had plenty of my own comments marked personal in the past. I'm not invincible even though it appears that way. Just stop changing accounts (not just usernames) and people might take you more seriously.

I'm also sure Patrick has logs. In 12 months I've maybe, maybe moderated 10-20 comments. That might be on the high end and including AF's nonsense. Rarely, if ever do I block a comment. That's under 10 times I'm pretty sure over 3-4 years or whatever it's been. Patrick and others bring the hammer down much more than I'm willing to. So yeah, pick your poison.
858   WookieMan   2021 Feb 3, 6:29pm  

I let you shit on me constantly. Is that not proof enough? I could mark almost all your comments personal and wipe them from the site. I don't. So keep mentioning the moderator thing. Not sure what that's doing for ya.
859   Bitcoin   2021 Feb 3, 6:30pm  

WookieMan says
Patrick says
I hope I didn't offend either of you.

offend me.


It doesnt take much to offend him. Simple facts will trigger the shiat out of him...Watch:

Here is a happy Bitcoin at 35k relaxing on a beach in Socal (two things WookieMan doesnt have)


Here is what WookieMan has


Watch what BSDS will do to him...
860   Patrick   2021 Feb 3, 6:40pm  

G36 says
I believe WookieMan is a fraud/fake.


I don't see this. I'm from Illinois myself originally, and he sound like people I know. I used to suspect he was my old boss from when I worked in Chicago, but now I think he's not.
861   WookieMan   2021 Feb 3, 6:44pm  

Come on @Patrick... we know who the troll is here. I've thrown out the olive branch enough. My comments back it up. He's Newbie123 as well. So look up the history (other names as well). I'll play as nice as I can, but not going to ignore stupidity. Comment 858 of recent vintage of my trying to keep the peace. You can't just shit on me though without having some thrown at you. I get the rules, haven't deleted his personal comments, yet he goes on. Spam at that.
862   Bitcoin   2021 Feb 3, 6:47pm  

@Patrick,
interesting. The really wealthy people I know personally are friendly and want others to succeed.
Whenever Bitcoin has a correction, WookieMan is hyped. When Bitcoin recovers and runs up to new all time highs, he gets angry. He doesnt fit the picture of a successful person. He fits the troll-type person that has no success in life and wants others to fail too.
But maybe I am wrong. Why comment thousands of times on a Bitcoin thread and hope for it to fail? Because you are successful in life? Makes no sense to me.
863   WookieMan   2021 Feb 3, 6:58pm  

G36 says
Why comment thousands of times on a Bitcoin thread and hope for it to fail?

Gotta quote something bud. When have I ever said I want it to fail? I've made predictions, almost all with caveats. I've said multiple times I want you guys to make money, just that it's a dangerous game. You're making up pure fiction here dude. You know it too.
864   Bitcoin   2021 Feb 3, 7:05pm  

WookieMan says
G36 says
Why comment thousands of times on a Bitcoin thread and hope for it to fail?

I've made predictions


Yep, the worst ones in the history of Patnet. That must deserve a trophy.
865   WookieMan   2021 Feb 3, 7:07pm  

G36 says
Yep, the worst ones in the history of Patnet. That must deserve a trophy.

Keep going. You keep digging the grave deeper.

There are people that still think the earth is flat. I know what camp you fall into....

Let me know where you're traveling or if you want to meet up. I'll buy you a beer.
866   Bitcoin   2021 Feb 3, 7:10pm  

WookieMan says
G36 says
Why comment thousands of times on a Bitcoin thread and hope for it to fail?

it's dangerous


scaredy cats invest in LUV (not too much though....100 shares!)
The really wealthy people I know personally have play money and invest a few percentages in Bitcoin. Another sign that he is not what he wants to be.
867   EBGuy   2021 Feb 3, 7:12pm  

I'm guessing some version of the Green New Deal pulls the plug on cryptocurrencies.
For example, we determined electricity consumption to be between 60 and 125 TWh per year for Bitcoin. This is in the range of the annual electricity consumption of countries such as Austria (75 GWh) and Norway (125 GWh). However, as cryptocurrencies currently process only few transactions per second, the theoretical limit is typically in the low two- or three-digit range, e.g., approx. 15 for Ethereum and Bitcoin and 100 for Bitcoin Cash. This is primarily determined by the parameters ’average block time’, ’minimum size of transactions’, and ’maximum block size’ (Georgiadis 2019). Accordingly, a single transaction currently requires enough electrical energy to meet the needs of the average size German household for weeks, or even months.
868   WookieMan   2021 Feb 3, 7:12pm  

G36 says
The really wealthy people I have play money and invest a few percentages in Bitcoin.

Wealthy people don't invest in BTC. Just saying. I honestly don't know what to say after that. I guess the "wealthy" people you know are liars? The headlines your read are lies and there's no way for either of us to prove it. One more reason to not invest.
869   Bitcoin   2021 Feb 3, 7:14pm  

WookieMan says
G36 says
Yep, the worst ones in the history of Patnet. That must deserve a trophy.

Keep going.


Okay, what is your prediction for Bitcoin at the end of 2021? Not that I care, but maybe I can add it to the list.
lets hear it :) or are you done with predicting? Hurts too much to be soooo wrong?
870   WookieMan   2021 Feb 3, 7:15pm  

EBGuy says
I'm guessing some version of the Green New Deal pulls the plug on cryptocurrencies.

Possible, but I don't think there will be a green new deal. Maybe some variation, but fossil fuels are here to stay for a while. I don't think electric consumption moves the crypto needle for now. Could long term though.
871   Bitcoin   2021 Feb 3, 7:16pm  

WookieMan says
G36 says
The really wealthy people I have play money and invest a few percentages in Bitcoin.

reason to not invest.


See, thats another sign. Every single person I know, especially the wealthy ones INVEST. You saying you dont invest matches the portfolio of 100 shares of LUV and it matches my theory that you are just making stuff up. It makes sense that you cant upset at others for making money in the markets. Because you are not in it.
872   WookieMan   2021 Feb 3, 7:18pm  

G36 says
Okay, what is your prediction for Bitcoin at the end of 2021? Not that I care, but maybe I can add it to the list.
lets hear it :) or are you done with predicting? Hurts too much to be soooo wrong?

I'm guessing below $10k and could touch as low as $5k. It's likely going to repeat the 2017/18 cycle. It's already mirroring it. You're in the middle of the pump. I underestimated how dumb it would get back when I said sell at $18k. I was wrong. * This is totally something trolls do...
873   Bitcoin   2021 Feb 3, 7:20pm  

holy crap! WookieMan believes Bitcoin will be between 10k and 5k at the end of 2021.

BAWAHAHAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAAHAHAHAH

Thank you man!!
874   Bitcoin   2021 Feb 3, 7:21pm  

this is better than watching TV and there are some good shows out there lately.
875   WookieMan   2021 Feb 3, 7:22pm  

G36 says
Every single person I know, especially the wealthy ones INVEST.

You don't know wealthy people. Rich people don't need stocks or crypto. They get people to pay them. I for sure know people that are wealthier than anyone you know. 100%. You're playing a game you don't understand. Make personal comments all day, but you're going to lose. The beauty of forums is I'll prove it with time. Keep up with the ego you haven't earned though.
876   WookieMan   2021 Feb 3, 7:25pm  

I'll beat the horse until it's mulch. Where have you traveled in the last 12 months? Just name a location. Not a difficult task for some big time crypto investor.
877   Bitcoin   2021 Feb 3, 7:25pm  

WookieMan says
G36 says
Okay, what is your prediction for Bitcoin at the end of 2021? Not that I care, but maybe I can add it to the list.
lets hear it :) or are you done with predicting? Hurts too much to be soooo wrong?

I'm guessing below $10k and could touch as low as $5k. It's likely going to repeat the 2017/18 cycle. It's already mirroring it. You're in the middle of the pump. I underestimated how dumb it would get back when I said sell at $18k. I was wrong. * This is totally something trolls do...


@Cash

gotta save that one.....he believes BTC will be between 5k and 10k by end of 2021.

@WookieMan,
lets do a bet. I buy you booze for 1K to celebrate if Bitcoin is between 10k and 5k by end of 2021. I know....its nothing for a fake millionaire. But hey, who turns away free booze.
Your choice of booze. Wine, beer, anything.

Agreed? I give you 1K to buy booze or I buy it and ship it to IL.

If you are fine with it....what will you give me in return if Bitcoin is over 20k by the end of 2021?
878   Bitcoin   2021 Feb 3, 7:27pm  

And dont give me the dox shit. We'll find a way to make the transaction without exchanging personal info.
I just want to make that bet.
879   WookieMan   2021 Feb 3, 7:30pm  

G36 says
Agreed? I give you 1K to buy booze or I ship it to IL.

Nope. I gamble at casinos, not online. You've got the quote. Feel free to boost your esteem and post it later. I'm doing well in life. I can be wrong on this "prediction" (that doesn't matter) and know I'm doing fucking fantastic. Better than most. You'll repost this and I won't care. I won't change my username. I'll continue to be a man unlike some here holding dead money for 3-4 years. Whatever.
880   Bitcoin   2021 Feb 3, 7:31pm  

oh my gawwd. just be a freakin man.

Stand behind your prediction. have some fun. You are a fake millionaire....I give you one k if you are right and you give me whatever you choose if i am right....i dont demand 1k....what will you give me....come on
881   Bitcoin   2021 Feb 3, 7:36pm  

dont shit yourself, we find a way to do it without personal info. you get your 1k in cash or booze. Who turns away free shit?
The wealthy people I know, LOVE those kind of personal bets. Have some fun. I dont even demand 1k in return. Your choice what you will give me in return.
make a deal!
882   WookieMan   2021 Feb 3, 7:44pm  

G36 says
You are a fake millionaire

I'm an elected official. I've stated that. I've doxed myself enough here. I'm not going to gamble with you. The quote should be enough to pump up your ego, if you're right. You've got a year to master bait over it.

Personal info is a formality... you just won't get mine ;)
883   Bitcoin   2021 Feb 3, 7:47pm  

my gawwd what a sissy
884   Bitcoin   2021 Feb 3, 7:50pm  

elected offcial.
bawahahha isnt that the truth....nothing you say can be taken seriously. just like with the other elected officials. :)
885   WookieMan   2021 Feb 3, 7:55pm  

G36 says
elected offcial.
bawahahha isnt that the truth....nothing you say can be taken seriously. just like with the other elected officials. :)

Don't take it seriously...
886   Onvacation   2021 Feb 3, 8:34pm  

Patrick says
- WookieMan seems to have a fine life, but gets baited into responding to G36's responses, and so it goes on.

Good summary!

I started this thread to point out that bitcoin is a scam. So far no one has refuted my argument.

It hurts people that can't afford it and uses a tremendous amount of energy.
887   WookieMan   2021 Feb 3, 8:42pm  

Onvacation says
It hurts people that can't afford it and uses a tremendous amount of energy.

Anyone can afford it. That's the problem I have with it and why I agree that it's a scam. BTC is dead in the water if you had to purchase a whole coin at these prices. Which means they'd never be here if Joe Blow wasn't buying $500-$2,500 of it. It's not Elon Musk buying millions worth. They throw in $100k, give that press, and they just printed a $200k vacation to the Maldives for doing nothing. They don't understand this though.

Your analysis of what it is, is spot on. And won't get a response from any of these guys. I just fear people will see this shit and buy into it. Maybe just let them earn the financial Darwin award I guess? Makes me sick either way. I know people that have had their lives ruined over crypto. I assume most these guys are playing with lunch money, but again, I worry about the person that actually has money and get sucked into the scheme.
888   Bitcoin   2021 Feb 4, 7:35am  

Sissy doesnt even take free money for his prediction. He just makes up stuff and doesnt stand behind anything he spouts. Shows you what kind of man he is (you cant take a word he says seriously).

I called him a fraud and he responds that he is an elected official....ROFL.
Thanks for the confirmation.
889   WookieMan   2021 Feb 4, 7:37am  

G36 says
Sissy doesnt even take free money for his prediction. Shows you what kind of man he is.

Lol, sissy?? Are you still in high school dude? As usual should market personal but I won't. I'll just let the forum show the history of you. Not a good like I might add.

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