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Bitcoin Misinformation


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2020 Nov 10, 10:01am   133,685 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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1007   WookieMan   2021 Feb 8, 1:51pm  

Patrick says
I also suggest not engaging with the guy. He thrives on the conflict.

I don't believe there's a conflict though. I'll keep engaging unless you ask me not to explicitly. It's your site. I've kept it non-personal 95% of the time. I simply don't want other idiots to get sucked into the scheme. The fallout from this pump, during this time is going to destroy a lot of lives. Including some here. It happened in Dec 2017. It's the same cycle. The same hype. It ends bad for people. Plenty of crypto "investment" is being thrown on credit cards by people that get sold by shit like what is posted here.

I like the site and just don't want to see it go down the rabbit hole of penny/crypto pumping and dumping shit.

Onvacation says
Can anyone explain how a crypto currency can even have a valid "market cap"?

You know as well as I do these guys are here for SEO linking and spamming. G/Newbie123 posts the fucking google search graph for crypto almost daily. They think they're market movers and heck they may even be paid to do so. Given a daily email of what to post. They don't invest in crypto. I like that you fight it and question it though.

If they can't answer 3rd grade math questions, they're obviously spam at this point. They can't even answer if they've been on vacation ;) They haven't. And they're jealous with pretend paper gains. It's sad. I just don't want to see them suck other people into a losers game.
1008   Bitcoin   2021 Feb 8, 1:57pm  

oh boy, Bitcoin is still climbing....the Tesla-buying-Bitcoin news hit hard today! bad day for BTC haters :)
1009   Onvacation   2021 Feb 9, 6:56am  

G36 says
oh boy, Bitcoin is still climbing.

Any answers about market cap?
1010   Onvacation   2021 Feb 9, 6:56am  

"I got coin in my wallet" the rest of us have cash.
1011   Bitcoin   2021 Feb 9, 6:58am  

Onvacation says
G36 says
oh boy, Bitcoin is still climbing.

Any answers about market cap?


yeah, Bitcoin is only on place 9. I'd like to see Bitcoin on #1.

1012   Bitcoin   2021 Feb 9, 6:58am  

Onvacation says
"I got coin in my wallet" the rest of us have cash.


More Bitcoins more wealth
1013   Onvacation   2021 Feb 9, 4:39pm  

G36 says

More Bitcoins more wealth

Like a store of value?

Why do you suppose Musk dumped a ton of money on a months supply of "mined" bitcoins? It would explain the bump. Do you think he thinks it's a store of value? The currency of the future? A gamble to double his money?
1014   Onvacation   2021 Feb 9, 5:04pm  

I think Musk is smarter than to HODL. I still do. Maybe he's transferring some wealth to some blackmailers that have video of him smoking pot?
1015   Bitcoin   2021 Feb 9, 5:07pm  

Tesla buying 1.5B worth of Bitcoin is just the best news. Thank you Elon! And thanks to all Tesla shareholders who indirectly pump my Bitcoin
1016   Bitcoin   2021 Feb 10, 7:42am  

oh boy....another shitty day in IL. looks cold and ugly! Beautiful here in Socal. Sorry Sissy! AND Bitcoin is over 44k!
Double whammy! @WookieMan
1017   WookieMan   2021 Feb 10, 8:00am  

G36 says
oh boy....another shitty day in IL.

I enjoy it. You can be afraid of winter or embrace it. Thanks for letting us know where you stand though. I'll keep taking my huge returns in state income taxes that beat crypto. Best performing asset is not living in CA...lo fucking l.
1018   Bitcoin   2021 Feb 10, 8:14am  

WookieMan says
G36 says
oh boy....another shitty day in IL.

afraid of winter


I am so sorry. Beautiful weather here and Bitcoin over 44k :) Sorry you get hit with double whammy's daily, Sissy.
1019   WookieMan   2021 Feb 10, 9:41am  

G36 says
Beautiful weather here and Bitcoin over 44k

Enjoy paying for weather. Free flights versus CA government, income taxes through the roof, overpriced housing, paying pensions for deadbeats, shit on the street, needles etc. I'll take my annual 60% gain as a high income earner living in IL. I also don't live here close to 3 months of the year. I know, you like monotonous lifestyle, brown shrubbery and full of illegals.

I hope someday you stop trying to justify the fact you're invested in nothing. Your state or crypto. You've been burned.
1020   Bitcoin   2021 Feb 10, 9:54am  

WookieMan says
G36 says
Beautiful weather here and Bitcoin over 44k

Enjoy paying for weather.


I would pay more in a heartbeat! Living in Socal is priceless. For no money would I move to IL after seeing shitty day after shitty day. It clearly shows the negative impact on people like you (@WookieMan). Mentioning sunshine triggers you. Every. time.
Sometimes you have to look at ones misery to appreciate even more the Socal living.

Thanks Sissy!
1021   WookieMan   2021 Feb 10, 10:56am  

G36 says
I would pay more in a heartbeat!

Obviously. LOL! Keep enjoying losing 40% out of the gate by living in CA for every $1 you earn. Not sure if you earn any, but either way, point stands. Let's say you're being honest (you're not). I make a higher ROI than you do living in IL. Unless you want to tell us you don't make money? If you don't make money how did you get BTC? Mom and Dad would be my first guess.

Hmmm.... now that I think about it. What field do you work in? Can't believe I haven't asked the most obvious question. My business is in construction. I also deal in real estate and media. What do you do Mr. Crypto thousandaire?
1022   Bitcoin   2021 Feb 10, 11:01am  

WookieMan says
G36 says
I would pay more in a heartbeat!

Obviously.


Right? Beautiful weather is priceless! Gosh, I would pay double to keep enjoying this beautiful weather in Socal!
1023   WookieMan   2021 Feb 10, 11:02am  

G36 says
Right? Beautiful weather is priceless!

Not for mom and dad....
1024   Bitcoin   2021 Feb 10, 11:05am  

WookieMan says
G36 says
Right? Beautiful weather is priceless!

mom and dad....


They live in Socal too....most of my fam does :) Very happy to have family close!
1025   WookieMan   2021 Feb 10, 11:07am  

G36 says
Very happy to have family close!

I know, upstairs. Must be nice. Most people have to own or rent their place of residence and not rely on mom and dad. Good for you milking your folks for money. You should be proud.
1026   Bitcoin   2021 Feb 10, 11:09am  

WookieMan says
G36 says
Very happy to have family close!

I know. You should be proud.


I am.....SoCal is beautiful and having family in SoCal is beautiful too. We love it here. You can party in the BY basically all year long.

Have you gotten an umbrella yet?
1027   WookieMan   2021 Feb 10, 11:16am  

So you do live with mom and dad. Thanks for confirming.
1028   Bitcoin   2021 Feb 10, 11:17am  

WookieMan says
mom and dad. Thanks.

Yep, they live in Socal too. Not too far away. It's nice to have family close by. They all love it here in Socal.
1029   WookieMan   2021 Feb 10, 11:24am  

G36 says
WookieMan says
mom and dad. Thanks.

Yep, they live in Socal too. Not too far away. It's nice to have family close by. They all love it here in Socal.

They live in the same house. Everyone here knows it. You need help. Lying about it won't solve your insufficiencies. Throwing money at fake money won't either. You'll learn.
1030   Bitcoin   2021 Feb 10, 11:26am  

WookieMan says
G36 says
WookieMan says
mom and dad. Thanks.

Yep, they live in Socal too. Not too far away. It's nice to have family close by. They all love it here in Socal.

Everyone here knows it.


Yep, cousins, mom, dad, aunts, uncles....pretty much everyone lives in Socal :)
1031   WookieMan   2021 Feb 10, 11:41am  

G36 says
Yep, cousins, mom, dad, aunts, uncles....

Ahhhh. Got it. You live with Grandma. That clears things up even more. Thanks for the update.
1032   Bitcoin   2021 Feb 10, 11:43am  

WookieMan says
G36 says
Yep, cousins, mom, dad, aunts, uncles....

Ahhhh. Got it. Thanks for the update.


No problem!
We are blessed to live all in Socal. Not too far from each other. Makes it easy to get together and enjoy parties in the BY. I imagine thats not something you can do in IL. Is it shitty weather pretty much all year round in IL? Stay warm Bro!
1033   Bitcoin   2021 Feb 10, 11:44am  

WookieMan says
G36 says
Yep, cousins, mom, dad, aunts, uncles....

Grandma.


Totally forgot Grandma!! Lol...Grandpa and Grandma live in SoCal too :)
1034   WookieMan   2021 Feb 10, 11:45am  

So you do live in grandma's basement! You didn't even deny it.
1035   Bitcoin   2021 Feb 10, 11:48am  

WookieMan says
So you do live in Socal


Yep, pretty much all my family lives in Socal.

It would suck if we would have to travel to IL to visit family. Its nice to have them all close by. We all like/enjoy the nice weather here. I cant imagine having shitty weather daily.

So sorry Sissy
1036   WookieMan   2021 Feb 10, 11:55am  

G36 says
WookieMan says
So you do live in Socal


Yep, pretty much all my family lives in Socal.

It would suck if we would have to travel to IL to visit family. Its nice to have them all close by. We all like/enjoy the nice weather here. I cant imagine having shitty weather daily.

So sorry Sissy

Abusing the quote feature when losing. That's classy. I guess that's what Socal losers do. Keep losing😂😂😂😂😂
1037   Bitcoin   2021 Feb 10, 11:58am  

WookieMan says
G36 says
WookieMan says
So you do live in Socal


Yep, pretty much all my family lives in Socal.

It would suck if we would have to travel to IL to visit family. Its nice to have them all close by. We all like/enjoy the nice weather here. I cant imagine having shitty weather daily.

So sorry Sissy

That's classy.


Yep, I am genuinely sorry! I am used to seeing sunshine daily and being outside daily. I feel really sorry.....If it werent for you, I wouldnt think of people who experience shitty weather daily. So, in a way. I am more grateful now! thank you and I am sorry. Stay warm Bro!
1038   WookieMan   2021 Feb 10, 12:03pm  

G36 says
I am used to seeing sunshine daily and being outside daily.

So am I. Your point is thudding pretty hard at this point. You look dumb. I like my weather. I'm not a pussy that needs brown dirt, shrubs, shit and needles 365. Count me out. I'll take my 60% returns as well by not living there.

Dude, you're literally bragging about a hell hole. I don't dig 3rd world country living conditions.
1039   Bitcoin   2021 Feb 10, 12:05pm  

WookieMan says
G36 says
I am used to seeing sunshine daily and being outside daily.



Dude, you're literally bragging


yep :) I do love it here and not afraid to brag about Socal! Its the place to be. Sorry and stay warm Bro
1040   Bitcoin   2021 Feb 10, 12:06pm  

taking the doggy out! Beautiful outside! Stay warm and we'll talk later!
1041   Onvacation   2021 Feb 10, 12:24pm  

Back to the topic.

Bitcoin is a speculative investment that consumes huge amounts of resources and DEPENDS on the next investor in order for the previous investor to get their money out.
1042   Bitcoin   2021 Feb 10, 1:13pm  

Onvacation says
Back to the topic.

Bitcoin is a speculative investment that consumes huge amounts of resources and DEPENDS on the next investor in order for the previous investor to get their money out.


How is that different from your investments in Legos and Matchbox car's? You overpaid for these collectables and depend on someone else to pay you the same overpriced amount that you paid?

Ever wondered why Tesla is not buying legos and matchbox cars? Tesla is buying Bitcoin because Elon is smart.
1043   Onvacation   2021 Feb 10, 1:16pm  

G36 says

How is that different from your investments in Legos and Matchbox car's?

I don't invest in collectibles.
1044   Onvacation   2021 Feb 10, 1:17pm  

Or lotto tickets.
1045   Bitcoin   2021 Feb 10, 1:20pm  

Onvacation says
G36 says

How is that different from your investments in Legos and Matchbox car's?

I don't invest in collectibles.


You paid 10K for a toy car and you bought legos and think someone else will pay you the same overpriced price on it.

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