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Bitcoin Misinformation


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2020 Nov 10, 10:01am   131,755 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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1144   Onvacation   2021 Feb 14, 8:19am  

G36 says
Was it Lego or was it wood?

I actually got to work with some very exotic alloys. My nickname at the yard was impact, and not because I made a difference.

For future reference, it's considered rude to quote someone and then edit what they say.
1145   Onvacation   2021 Feb 14, 8:22am  

G36 says
you keep changing your mind on things

If you read all my posts, which you claim is too much reading, you would know that I have consistently said, "bitcoin is a scam".
1146   WookieMan   2021 Feb 14, 9:42am  

Onvacation says
For future reference, it's considered rude to quote someone and then edit what they say.

Bingo. Someone can try to trash me all they want here. Just be honest at least. It devalues and even negates anything you've said previous in my book changing/editing a quote.

Usually if someone doesn't like or agree with what is said, they bring evidence to show the other person is wrong or incorrect. That hasn't happened in one of these recent crypto threads. It's just links to fly by night crypto sites run by unemployed 20-30 somethings thinking they'll get rich or a few geezers that failed at life. Tell me I'm wrong crypto boi's.
1147   porkchopXpress   2021 Feb 14, 10:53am  

Onvacation says
G36 says
"bitcoin is a scam".
So was online shopping
1148   Patrick   2021 Feb 14, 10:54am  

WookieMan says
It devalues and even negates anything you've said previous in my book changing/editing a quote.


Altering evidence is exactly what the Democrats just did in the mock trial of Trump. They changed a Tweet date by a YEAR to make it look connected to the Capitol riot, added a blue check by a Tweet when it wasn't really there, and apparently some other lies:

https://patrick.net/post/1338127/2021-02-14-trump-s-lawyer-destroys-media-spin-and-lies-on-camera
1149   Onvacation   2021 Feb 14, 1:22pm  

porkchopexpress says
Onvacation says
G36 says
"bitcoin is a scam".
So was online shopping

What was the name of that website to buy groceries?
1150   Bitcoin   2021 Feb 14, 6:34pm  

History has been made

https://www.reuters.com/article/crypto-currency-etf/canadian-regulator-clears-launch-of-worlds-first-bitcoin-etf-investment-manager-idUSL1N2KI1FX

Canadian regulator clears launch of world's first bitcoin ETF - investment manager

What an excellent time to be alive! Epic Super Cycle for Bitcoin (Digital Gold)
1151   Onvacation   2021 Feb 14, 8:23pm  

G36 says

What an excellent time to be alive!

Interesting, yes.
Excellent? Really? Lockdowns, mask laws, suspension of the first amendment, election stolen by CCP connected socialists, and you think times are excellent?
1152   Onvacation   2021 Feb 14, 8:24pm  

G36 says
(Digital Gold)


Ya made $50,000 gambling IF you cash in the chips right now. I could put $30,000 on a blackjack hand and double my money in a couple minutes.

HODL on dude. Maybe some dumb money will come along and finally offer you enough fiat to make you want to sell your "Gold 2.0".
1153   Bitcoin   2021 Feb 15, 8:14am  

Thats correct @Onvacation.

Even banks are entering the Bitcoin spaceship since they understand its digital gold.

https://www.nbc29.com/2021/02/15/virginia-based-bank-offering-bitcoin-transactions/

Virginia-based bank offering Bitcoin transactions
1154   Bitcoin   2021 Feb 16, 8:32am  

MAJOR BITCON MILESTONE REACHED

2.5 times of prior all time high = 50k!
First time in History, Digital gold breaks 50k!

Its only 50% off our target of a six figure Bitcoin which is likely on the cards for this cycle.

https://www.wsj.com/articles/bitcoin-trades-above-50-000-for-first-time-11613479752
1155   Onvacation   2021 Feb 16, 10:48am  

G36 says
Its only 50% off

It will lose the other half, don't worry.
1156   Bitcoin   2021 Feb 16, 10:51am  

hahahahahahahahahhahahahahahahaha you wish :) you sooooooooooooooo wish :)

THis is fun! F.ing little Bitcoin haters get slapped left and right - daily.

Thank you Tesla! Thank you Satoshi N.!
1157   Onvacation   2021 Feb 16, 10:52am  

So why is one bitcoin worth $50k?
1158   Onvacation   2021 Feb 16, 10:53am  

Not expecting a cogent answer.
1159   Onvacation   2021 Feb 16, 10:53am  

Or any answers.
1160   Bitcoin   2021 Feb 16, 11:03am  

Onvacation says
So why is one bitcoin worth $50k?


Its highly undervalued! Its worth at least 300k.

You like to invest in legos and matchox cars but there is no demand by Tesla to put legos on their Balance Sheet. They want Bitcoin. Just like everyone else.

Sry you missed the boat but I could have told you that when you said you still use a landline.
1161   Bitcoin   2021 Feb 16, 11:03am  

excuse me....you didnt miss the boat....you missed the spaceship :)
1162   WookieMan   2021 Feb 16, 11:55am  

G36 says
excuse me....you didnt miss the boat....you missed the spaceship :)

He actually didn't miss the boat... he just has a boat.

You've said yourself you haven't sold. You have unrealized gain on paper. Sell them and you can start to brag, otherwise you sound extremely foolish bragging about an unrealized gain and unrealistic values. You have gained $0 USD at this point in time per your own comments.
1163   Bitcoin   2021 Feb 16, 11:58am  

Another cold day in IL, Sry Bro

No Bitcoin, shitty weather....life must suck for ya?

Beautiful weather here....taking the doggy for a walk :)

Stay warm and dry, Bro
1164   WookieMan   2021 Feb 16, 12:59pm  

G36 says
No Bitcoin, shitty weather....life must suck for ya?

Quite the opposite. Two happy and healthy kids. A hot and happy wife. Leaving for Phoenix Tuesday to golf with some buddies for 4 days. I can give you the hotel info and dates if you want for 2 of the nights. Got some new business over the last week on top of an already good winter season. Spring break in FL. USVI almost booked for October. Thinking about Tahoe with the family this summer, but can't trust CA deadbeat politicians to have the state open. So we might do the Carolinas. Huge camping trip with neighbors this summer up in WI.

Working on a surprise trip for my wife in 2022. Costs more than your supposed BTC investment per week to rent and/or charter. In a way, way better place than CA. But hey, enjoy doing the task women usually do, walking the dog. Have to say, my kids do love riding their bikes in the snow too. Honest question given you're from CA, are you gay?
1165   Onvacation   2021 Feb 16, 1:00pm  

G36 says
They want Bitcoin.

Why? Beside FOMO.
1166   Bitcoin   2021 Feb 16, 2:57pm  

Onvacation says
G36 says
They want Bitcoin.

Why?


Tesla, Paypal, Square.....they all know Bitcoin is digital gold!
1167   Bitcoin   2021 Feb 16, 2:58pm  

WookieMan says
G36 says
No Bitcoin, shitty weather....life must suck for ya?



"Yes"

Sorry, Man, hey, you can always save money and move to CA at some point!
Stay warm and dry Bro...beautiful sunshine here
1168   Onvacation   2021 Feb 16, 3:23pm  

WookieMan says
Honest question given you're from CA, are you gay?
G36 says
"Yes"
1169   Onvacation   2021 Feb 16, 3:27pm  

that was wrong

not that there is anything wrong with that
1170   Bitcoin   2021 Feb 16, 4:14pm  

Usually, when the Bitcoin haters have nothing left (and Bitcoin reaches new all time highs) their comments get personal :)

Right? @Onvacation
@WookieMan

sry guys, I know the weather is bad in IL and you missed the spaceship.
1171   Onvacation   2021 Feb 16, 4:20pm  

G36 says
their comments get personal :)

Nothing personal about selective quoting.

You never did apologize for changing my quote.
1172   WookieMan   2021 Feb 16, 4:39pm  

G36 says
Usually, when the Bitcoin haters have nothing left (and Bitcoin reaches new all time highs) their comments get personal :)

Mark my comment personal if it is. I simply asked a question based on a state having cities with large populations of gays. No different than asking if the south side of Chicago has a bunch of blacks. It's a question. Didn't know you were so PC.

I'll have to assume at this point though because you haven't answered. As usual.
1173   Bitcoin   2021 Feb 16, 5:20pm  

Agreed, usually when the haters cant take the celebration of Bitcoin's success anymore they get personal.

Sad but on the other hand, without @WookieMan, I would not appreciate living in Socal as much. I'd take the beautiful beaches and daily sunshine for granted.

I cant imagine not having Bitcoin and Bitcoin hitting 50k. And he lives in IL!! poor dude.

We are all here to celebrate 50K Bitcoin! Congrats to all Crypto investors/Hodl'ers!

https://www.chicagotribune.com/business/ct-biz-bitcoin-50k-cryptocurrency-20210216-k3743ddl2nd3reergkm7syc4je-story.html
1174   WookieMan   2021 Feb 16, 5:38pm  

G36 says
I'd take the beautiful beaches

This is a solid no and sign you haven't traveled if Socal beaches are beautiful. Maybe for surfing. But no, you haven't seen a real beach in your life. Socal is adequate at best. The whole West coast really doesn't have great beaches. Cliffs, crappy sand and water don't make a good beach.

Get out. See other beaches. You'd be surprised how bad it is. Lake Michigan has better beaches than CA. Better sand, better water. Once you get some money, maybe check out some of the beaches in this hemisphere and not just the average CA beaches. I know you're out $20k, so it will be a while since you don't sell and don't have liquid cash. But travel. You'll be surprised how bad CA is having never left it.
1175   Onvacation   2021 Feb 16, 5:49pm  

And bitcoin is a speculative investment whose sole purpose is for criminals to transfer money and for miners to buy hookers and blow.

Tell me why I am wrong?

Would be surprised if I got a cogent answer
1176   Bitcoin   2021 Feb 16, 5:54pm  

G36 says
Agreed, usually when the haters cant take the celebration of Bitcoin's success anymore they get personal.

Sad but on the other hand, without @WookieMan, I would not appreciate living in Socal as much. I'd take the beautiful beaches and daily sunshine for granted.

I cant imagine not having Bitcoin and Bitcoin hitting 50k. And he lives in IL!! poor dude.

We are all here to celebrate 50K Bitcoin! Congrats to all Crypto investors/Hodl'ers!

https://www.chicagotribune.com/business/ct-biz-bitcoin-50k-cryptocurrency-20210216-k3743ddl2nd3reergkm7syc4je-story.html


Thanks guys! I knew we would get back to the topic of discussing the success of Bitcoin! Such a beautiful milestone! 50K !

Stay warm and dry, Bro.....Its looks cold over there in IL. Beautiful weather here in Socal
1177   WookieMan   2021 Feb 16, 5:57pm  

G36 says
Its looks cold over there in IL. Beautiful weather here in Socal

Can't handle the cold. Can't answer my previous question. Enjoy walked the dog.... lol. Hopefully that's just brown sand on your..... oh never mind.
1178   Onvacation   2021 Feb 16, 6:00pm  

G36 says
I cant imagine

That's why I try to be real clear.
1179   Bitcoin   2021 Feb 16, 6:00pm  

WookieMan says
G36 says
Its looks cold over there in IL. Beautiful weather here in Socal

Can't handle the cold.


I know! That's what BSDS is.



So sorry dude, try to stay warm!
1180   theoakman   2021 Feb 16, 7:45pm  

I don't care if it's valued in dollars. I expect a dollar collapse, but not to zero. Worst case scenario, it becomes like the peso. I've positioned myself accordingly for currency crisis. Bitcoin is just another piece of the puzzle, and it's really stole the thunder that gold should have had the past 5 years. It's definitely volatile and I don't know if it goes to $5000 or to $200000. Either way, I'm buying $250 a week to smooth out the volatility. At this point, with subsidy kings like Musk and government whores like Jack Dorsey buying in, they'll grease enough politicians to ensure regulation is favorable.

Besides, the US government and federal reserve is too arrogant with their actions to even consider bitcoin or inflation a threat. They aren't going to do anything.
1181   Bitcoin   2021 Feb 16, 7:58pm  

theoakman says
I don't care if it's valued in dollars. I expect a dollar collapse, but not to zero. Worst case scenario, it becomes like the peso. I've positioned myself accordingly for currency crisis. Bitcoin is just another piece of the puzzle, and it's really stole the thunder that gold should have had the past 5 years. It's definitely volatile and I don't know if it goes to $5000 or to $200000. Either way, I'm buying $250 a week to smooth out the volatility. At this point, with subsidy kings like Musk and government whores like Jack Dorsey buying in, they'll grease enough politicians to ensure regulation is favorable.

Besides, the US government and federal reserve is too arrogantly with their actions to even consider bitcoin or inflation a threat. They aren't going to do anything.


Perfect post! Good have said it better!
1182   WookieMan   2021 Feb 16, 8:46pm  

G36 says
Perfect post! Good have said it better!

Lol....
1183   Onvacation   2021 Feb 16, 9:01pm  

theoakman says
I'm buying $250 a week to smooth out the volatility. At this point, with subsidy kings like Musk and government whores like Jack Dorsey buying in, they'll grease enough politicians to ensure regulation is favorable.

To what end? Expecting "dumb money" to buy you out someday? As a replacement for central bank currencies?

It will never replace credit cards cash and barter for every day transactions. It has no store of value and does not pay dividends. The only way to get your money out is for someone to pay you for your claim on existing "coins". You put fiat in and you get fiat out. Fiat in pays for the miners expenses. Fiat out comes from people buying your claim. Ultimately you have bits on a flash drive that are valuable in fiat only because people say (by fiat) it is valuable in fiat.

Dollar cost averaging a thousand bucks a month on a speculative asset that depends on a greater fool is a bit too rich for me. Especially when it is so unsustainable.

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