patrick.net

Tesla buying Bitcoin for 1.5B USD sent shockwaves through haters. It was the best fuck you I could have wished for.
Thank you Elon! With a small portion of my astronomical gains I will buy a Tesla as a thank you! This will be a pro-longed Crypto bull market that will blow peoples mind.

G36 says

With a small portion of my astronomical gains I will buy a Tesla as a thank you!

Still less than I've made over the same time, but facts aside, why would you buy a Tesla? They're fine cars, I've driven a couple, but you can get much better for substantially less. Have better range and access to fuel. Even if gas is $5/gallon and you're going the green route, that's a trivial amount monthly if you actually make money. It's a rounding error.

Plugging your car in and having to run new electric to the garage or carport is a pain in the ass and will eat up your first year or two of savings in bloated gov CA. The cable run of say 50' alone for fast charging is probably $500 for just the cable. I've run 4ga. for the double oven, that cable ain't cheap. Long run though. Yours will most certainly be shorter. I'm sure permit fees in Socal are reasonable.

I like TSLA, but I like spaceX more. Musk is a troll and only has one goal. Look him up, you'll hopefully understand his objective. His purchase of BTC is to extract money from you. You'll learn.

G36 says

Wow - fucking wow! This is extremely bullish news for BITCOIN
https://finance.yahoo.com/news/tesla-buys-billion-worth-of-bitcoin-133029552.html

Why SOON? why not right now? Thats the thing about bitcoin..If it really is money, why cant it be used to buy stuff everywhere? Its not because its new. Its been around several years already.

porkchopexpress says

Just a guess given unprecedented inflation chasing limited assets. Bitcoin is easily acquired by anyone from around the world, is a liquid asset, is the bastion of digital money, difficult to confiscate, and has a known finite supply. It's simply science that the price will go to the moon.

But you will still need to convert it to "fiat" for food.

Fiat is valuable because the government says so. Bitcoin is valued in fiat. What if the government says that you can no longer exchange bitcoin for fiat?

komputodo says

G36 says

Wow - fucking wow! This is extremely bullish news for BITCOIN
https://finance.yahoo.com/news/tesla-buys-billion-worth-of-bitcoin-133029552.html

Why SOON? why not right now? Thats the thing about bitcoin..If it really is money, why cant it be used to buy stuff everywhere? Its not because its new. Its been around several years already.

@komputodo
Why the rush? How many Bitcoins do you have to buy Tesla? I know the answer....zero :)

komputodo says

Its been around several years already.

Over a decade actually. Someone just figured out how to market and pump it. Genius on their part to take other peoples money AND make "miners" pay for the electricity to transact in the scam all under the ruse of it being a currency. The sad (and somewhat funny) part is that people don't know it's a scam. They call you names because they have the best investment ever....? Yeah, sure, confidence is calling people names when you have the best investment ever...

I know I'm going to enjoy these threads in the future. Admitting being wrong is actually a strength. Some have it and most don't.

Onvacation says

porkchopexpress says

Just a guess given unprecedented inflation chasing limited assets. Bitcoin is easily acquired by anyone from around the world, is a liquid asset, is the bastion of digital money, difficult to confiscate, and has a known finite supply. It's simply science that the price will go to the moon.

What if the government says that you can no longer exchange bitcoin for fiat?

bawahahahahahhahahaa

@onvacation,
We heard this for years. Look what happened. Fortune 500 companies own the US and they buy Bitcoin in an unprecedented way.

Elected officials LOVE Bitcoin. They even created a federally chartered Crypto BANK.

Is that your last hope! Government....please help.....government....please shut down Bitcoin? Pathetic!

https://www.forbes.com/sites/ktorpey/2019/07/30/us-lawmakers-are-realizing-they-cant-ban-bitcoin/?sh=346484e33e31
U.S. Lawmakers Are Realizing They Can’t Ban Bitcoin

https://news.bitcoin.com/us-lawmaker-likes-bitcoin-policymakers-innovation-regulation/
US Lawmaker Likes Bitcoin — Urges Policymakers to Embrace Innovation in Regulation

https://www.americanbanker.com/news/in-a-first-occ-grants-federal-charter-to-crypto-firm

Maybe you were on vacation and missed the news? LOL

Dumb money (like Sissy and onvacation) will rush in the end when the FOMO gets too strong....that will be an indicator to start selling :)

WookieMan says

komputodo says

Its been around several years already.

best investment ever...

Bitcoin really is the best investment. Just facts.

Bitcoin investors play in another universe compared to Sissy's portfolio of 100 shares of LUV. I guess she's jealous.

G36 says

that will be an indicator to start selling

Don't you have to hold some to sell it? You don't.

WookieMan says

G36 says

that will be an indicator to start selling

Don't you have to hold some to sell it?

Exactly. But its called HODL. :) Basically what Tesla is doing.....buy and hold. Good think i started buying at 15k. Tesla bought in the 30k range :)
Thank you Elon! And special thanks to all Tesla Shareholders who made the 1.5B USD purchase of Bitcoin happen! :) Cant take all this winning!!

You don't HODL though. You've never bought any.

WookieMan says

You HODL though.

You got it! HODL and wait until dumb money (sissy) rushes in.

G36 says

HODL and wait until dumb money

Lol, you already took care of that part. Congrats.

Up your game bro. You're not looking too good after all these supposed gains.

WookieMan says

G36 says

HODL and wait until dumb money

you already took care of that part. Congrats.

Thank you! Yes, my positions are set. At this point I just watch it ride and big players like Tesla support the upwards trajectory.

small tadpole investors like Sissy are priced out at this point. 100 shares of Luv are not going to cut it. Big smart money is moving into Bitcoin now.

Very happy daily to got in early :) :) Maybe Apple is next?

G36 says

Very happy daily to got in early

English ain't your first language is it? Lol. Keep being spam though.

G36 says

WookieMan says

G36 says

HODL and wait until dumb money

you already took care of that part. Congrats.

Thank you! Yes, my positions are set. At this point I just watch it ride and big players like Tesla support the upwards trajectory.

small tadpole investors like Sissy are priced out at this point. 100 shares of Luv are not going to cut it. Big smart money is moving into Bitcoin now.

Very happy >>daily<< to got in early :) :) Maybe Apple is next?

Or Microsoft? Maybe Google?
I think Tesla is starting a huuuuge trend! Love it

Tadpole investors (@WookieMan) will be left behind.

WookieMan says

You don't HODL though. You've never bought any.

To be fair he probably bought a few satoshis of Bitcoin and thinks he’s rich.

BoomAndBustCycle says

WookieMan says

You HODL though.

he bought Bitcoin.

yep, back in November I bought 1.9 Bitcoin. But I also own chainlink (link), Cardano (ADA), Ethereum, Litecoin, DOT and a few other coins.

The Altcoins have been exploding lately. One of my biggest holdings is Cardano :)

BoomAndBustCycle says

WookieMan says

You don't HODL though. You've never bought any.

To be fair he probably bought a few satoshis of Bitcoin and thinks he’s rich.

Agreed.

WookieMan says

BoomAndBustCycle says

WookieMan says

You HODL though.

To be fair he bought a few Bitcoin

Agreed.

Correct. Plus I bought Cardano, Link, ETH etc. Those Alt's are crushing it lately!!

G36 says

Correct. Plus I bought Cardano, Link, ETH etc. Those Alt's are crushing it lately!!

Won't answer a question. Where do you travel?

Or. What industry do you work in?

Answer one. I don't think you do either. You're a crypto spammer.

WookieMan says

G36 says

Correct. Plus I bought Cardano, Link, ETH etc. Those Alt's are crushing it lately!!

Answer one.

Not just one....I got Cardano, Link, Bitcoin, Ethereum, Litecoins, 0x. You diversify, lately all of them have mooooooooned.

G36 says

WookieMan says

G36 says

Correct. Plus I bought Cardano, Link, ETH etc. Those Alt's are crushing it lately!!

Answer one.

Not just one....I got Cardano, Link, Bitcoin, Ethereum, Litecoins, 0x. You diversify, lately all of them have mooooooooned.

Cool. So you don't work and don't travel. Thanks for letting us know.

WookieMan says

G36 says

WookieMan says

G36 says

Correct. Plus I bought Cardano, Link, ETH etc. Those Alt's are crushing it lately!!

Answer one.

Not just one....I got Cardano, Link, Bitcoin, Ethereum, Litecoins, 0x. You diversify, lately all of them have mooooooooned.

Cool.Thanks for letting us know.

Sure! I almost forgot DOT (Polkadot)! oh and a smaller position in Binance coin! Man, so many good investments!

G36 says

Sure! I almost forgot DOT (Polkadot)! oh and a smaller position in Binance coin! Man, so many good investments!

So no travel. That's sad living in shit and needles.

WookieMan says

G36 says

Sure! I almost forgot DOT (Polkadot)! oh and a smaller position in Binance coin! Man, so many good investments!

I think thats all of them. Bitcoin, Cardano and Ethereum are def. the biggest holdings.

G36 says

HODL and wait until dumb money

Would that be the next, or last greatest fool?

G36 says

I think thats all of them. Bitcoin, Cardano and Ethereum are def. the biggest holdings.

So no travel? All that crypto and nothing to show for it. Can't even name a place on a fucking map beside Socal. You're a bot/spammer dude. Your program is running poorly.

komputodo says

Its been around several years already.

It was 2009, more than several years.

@Patrick, @Cash and other crypto holders

what do you guys think where we are in the cycle for Bitcoin and why?



My impression the last few weeks was we are in the belief stage. I gauged it by looking at google trend charts, at # of viewers/likes that some of the big names in the crypto space get. I also looked a new addresses created for Bitcoin and if the majority of money is sitting in wallets or on exchanges. There are other charts that break it up in smart money>institutions>retail>dumb money=cycle top. And obviously I assumed we are in the institutions phase because PayPal, Microstrategies, Grayscale are buying BTC like there is no tomorrow.

But the last 24h changed my view. Tesla bought 1.5B USD of Bitcoin. 10% of Tesla's cash is now in Bitcoin. That would support my view we are in somewhat in the middle between institutions/retail or belief stage.

However, two things here made me question my view:
The avg. Joe doesnt really understand how big this news is. Many haven't even heard/recognized the news. Said differently, the herd doesnt know that this will start a new trend of more and more institutions / companies purchasing Bitcoin to hold for the long term on their balance sheet. Secondly, many companies came out and were surprised about it or questioned Tesla's decision. These companies haven't even started the evaluation process. Many will follow Tesla's move.

This shows me we are not in the belief stage yet. We are in the disbelief stage. We are very, freaking early.
If that is true, than this bull run will be astronomical. It could easily go much higher than I imagined a few weeks ago.

This is what I am talking about!

https://cointelegraph.com/news/tesla-s-1-5b-bitcoin-purchase-leaves-treasury-experts-scratching-heads?fbclid=IwAR1TtvSNwFEJ3lRikGIfv48nM_TLFqQ-NUVuWkOrhNtWnHgJp1kCQFZ5o2g

"Some treasury experts are finding it difficult to understand why Tesla recently bought $1.5 billion worth of Bitcoin — the best performing asset of the last decade."

I think what Tesla did here is causing a paradigm shift.

G36 says

I think what Tesla did here is causing a paradigm shift.

Isn't this basically, taking assets from one bubble, the non-stop rise of Tesla's price, and putting it into another, just to give that collective bubble, two legs instead of one?

Wasn't the purpose of bitcoin, to facilitate point of sales? How is that possible when the price of goods goes from let's say $100/per fractional bitcoin to $50/per fractional bitcoin, within a day? In other words, the price doubling, making the price of that good 1/2.

That's not a currency. That's a wannabe digital gold but w/o the centuries of price action which gold has experienced.

WookieMan says

G36 says

I think thats all of them. Bitcoin, Cardano and Ethereum are def. the biggest holdings.

So no travel?

What's the obsession with travel? A wise man once said that people who take lots of vacations are just trying to escape their shitty life. Joking aside, I love where I live and my daily life. I'm truly happy so why try to escape it?

I know many people really like traveling, but I'm not that big on it and don't see the allure unless it's to be with people I like.

porkchopexpress says

I'm truly happy so why try to escape it?

Because it's easier to fuck hoes in Thailand while living the good life.

porkchopexpress says

WookieMan says

G36 says

I think thats all of them. Bitcoin, Cardano and Ethereum are def. the biggest holdings.

So no travel?

What's the obsession with travel? A wise man once said that people who take lots of vacations are just trying to escape their shitty life. Joking aside, I love where I live and my daily life.

Agree 100%. I usually ignore 90% of what he posts and just pick 1-2 words to quote.

Rin says

G36 says

I think what Tesla did here is causing a paradigm shift.

Wasn't the purpose of bitcoin, to facilitate point of sales?

No, Bitcoin is seen as digital gold. A store of value. Its better than holding cash because its the best performing asset.

Think about it....why would I want to spend my Bitcoin? Next month they are worth 2x more. In a year, they might be 10x more. So why waste them? Hold and generate generational wealth.

porkchopexpress says

Joking aside, I love where I live and my daily life. I'm truly happy so why try to escape it?

I love where I live too. I also love the Caribbean. I love Florida. Love California, Montana, Washington, Mexico, etc. I love all these places. Does the same scenery not get old? I think it does. It for sure does. Doing the same thing over and over is the definition of...... you know.

You don't have to answer, but if you have kids it's not at all good for them to sit in one place. They don't think the scenery is beautiful. It's just what they know and haven't seen anything else. I hype it because I think it's good for everyone to do. Trust me, I could be pumping it here and using my referral links to have others get me points. I don't because that's spam.

Then there's the question of why multi-millionaires/billionaires are fleeing CA. If it's so great and the cost of living for them is less than a penny on the dollar, why are they leaving? It's clearly not that great. People matter and I think that's the biggest problem with CA. I'm assuming that's where you are, as most users are here. CA has a people problem. IL does too admittedly, but it's the place I can live my best life right now. And it's awesome.

But I still love sitting on a beach having an Imperial in Costa. Having a Red Hook in the Caribbean. Snorkeling. Snowboarding at the biggest skiing in the country in Montana. National parks in Utah this past summer. I don't know what's not to like. Sure you can do some of that in CA, but to get the best you have to go elsewhere.

I'm more or less just pointing this out.......

G36 says

Hold and generate generational wealth.

Staying in one place is like holding. There will be no generational wealth. There will be nothing. And life will have been pissed away missing out on experiences, people and places. Do the same thing over and over. That sounds like pure misery to me.

And Bitcoin goes mainstream:

https://www.cnbc.com/2021/02/11/bny-mellon-to-offer-bitcoin-services-a-validation-of-crypto-from-a-key-bank-in-the-financial-system.html

BNY Mellon to offer bitcoin services, a validation of crypto from a key bank in the financial system

Bank of New York Mellon, the nation’s oldest bank, said Thursday that it will begin financing bitcoin and other digital currencies.

https://markets.businessinsider.com/currencies/news/mastercard-allow-cryptocurrencies-use-payments-network-2021-2-1030071595

Mastercard will allow merchants to accept select cryptocurrencies on its network later this year

lets make some guesses

"Mastercard said it will offer support for customers to transact in some select cryptocurrencies this year."

I am expecting BTC and ETH. Hoping for Cardano as well. Cardano is one of my biggest holdings.