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Bitcoin Misinformation


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2020 Nov 10, 10:01am   131,405 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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1400   Onvacation   2021 Jun 8, 11:06am  

BTC Price Statistics
Bitcoin Price Today
Bitcoin Price $32,185.18
Price Change
24h
$-3,602.29
10.07%
24h Low / 24h High
$31,114.44 /
$35,787.47
Trading Volume
24h
$49,384,215,082.12
67.32%
Volume / Market Cap 0.08189
Market Dominance 41.24%
Market Rank #1
Bitcoin Market Cap
Market Cap $603,024,787,623.17
9.98%
Fully Diluted Market Cap $676,104,216,253.83
8.51%
1401   WookieMan   2021 Jun 8, 11:33am  

Onvacation says
BITCOIN CONFERENCE

These guys look and behave like slime in that short clip. Is this not obvious? They look like tools out to CON you.

I don't care where the price goes, it ultimately has no value. I'm done predicting when it goes back to say $500 long term (likely less), but that's where it's going.
1402   Bitcoin   2021 Jun 8, 11:45am  

Buy the dip! Great buying opportunity!
1403   Onvacation   2021 Jun 18, 11:56am  

ELIZABETH WARREN THINKS BITCOIN IS A SCAM!

At a recent Senate Banking Committee hearing, Senator Elizabeth Warren (Dem., Massachusetts) said that "cryptocurrencies have created opportunities to scam investors, assist criminals, and worsen the climate crisis."

She further added that "the threats posed by crypto" cannot stay ignored by the government and suggested that more regulations be put in place.

If Liz doesn't like it, it must be good.
1404   Bitcoin   2021 Jun 18, 12:59pm  

Onvacation says
If Liz doesn't like it, it must be good.


True! Bitcoin is a great store of value and secure way to store value in a way that cant be taken from anyone. (hardware wallet).
1405   AmericanKulak   2021 Jun 18, 1:07pm  

Bitcoin says
great store of value


It only fluctuates like the flab on a new Victoria's Secret model.
1406   Onvacation   2021 Jun 23, 9:18am  

Onvacation says
Bitcoin rises to reclaim the $40,000 level as the cryptocurrency tries to recover from brutal selloff

Nope! Dipped below 30K instead.
1407   Bitcoin   2021 Jun 23, 10:25am  

beautiful buying opportunity! maybe the last great buying opportunity before we hit 100k!
1408   Onvacation   2021 Jun 23, 10:31am  

BUY THE DIP!

LAUNCHING FOR THE MOON!

soon
1409   Bitcoin   2021 Jun 23, 10:56am  

Onvacation says
BUY THE DIP!

LAUNCHING FOR THE MOON!

soon


100% agree!
1411   WookieMan   2021 Jun 23, 3:18pm  

Good meme. Friends and family should be bigger though bottom left. That's who they sell it to. This is possibly the biggest MLM scheme in history, probably is. Except no one even knows it who dabbles in crypto. They just sell you it and cannot even explain what it is.

I've basically gotten to the point where I tell friends mostly to just shut the fuck up about it. I don't want to hear it. Mostly politely. My one buddy got out in '17-'18 after getting burned and admits it's a scam after buying BTC and starting up a mining rig.

Until people realize everything done is to extract money from you, you'll never understand. It's why I love travel. If you take my money, I at least had some fun and have memories with friends and family. BTC and crypto checks none of those boxes unless you realize gains. It's stressful because of the swings. And there's no assets or anything of value besides trust that someone will pay more. The $ still is backed by assets, resources, military, etc. So don't go there.

I don't want to go down the rabbit hole on these threads again, but it's a complete con job. Anything talking crypto should be banned here in my opinion. Not my site and I can always start my own site. I just think it's toxic and these waves of swings up and down destroy people's lives and the gains are most likely gotten by uber wealthy people.
1412   RWSGFY   2021 Jun 23, 3:43pm  

Onvacation says
Nope! Dipped below 30K instead.


Back up the truck!
1413   Onvacation   2021 Jun 23, 5:48pm  

WookieMan says
Anything talking crypto should be banned here in my opinion.

The first amendment has been attacked enough lately.

This thread is simply here to explain what bitcoin is. If someone wants to droll on about how it's the currency of the future and digital gold let them. We can politely set them straight. If they seem to troll or actually become abusive we can ignore them.

With or without the button.
1414   Onvacation   2021 Jun 23, 10:12pm  

Bitcoin should have a big comeback around the time of the midterm elections when a lot of extralegal money needs to be transferred around. I never have been a gambler market timer so I will skip the game called cryptocurrency.
1415   Onvacation   2021 Jul 11, 9:45am  

I FOUND THE KRAKEN!

Buy Bitcoin Now On Kraken - Sign Up Today For Free
kraken.com

Bitcoin Was Up 315% In 2020, What Will It Do In 2021? Don't Wait, Buy Some Today On Kraken. We Are Kraken, Consistently Rated The Best And Most Secure Cryptocurrency Exchange.

What other investment was up 315% in 2020?
1416   RWSGFY   2021 Jul 11, 9:47am  

Onvacation says
I FOUND THE KRAKEN!

Buy Bitcoin Now On Kraken - Sign Up Today For Free
kraken.com

Bitcoin Was Up 315% In 2020, What Will It Do In 2021? Don't Wait, Buy Some Today On Kraken. We Are Kraken, Consistently Rated The Best And Most Secure Cryptocurrency Exchange.

What other investment was up 315% in 2020?


Release the Kraken!!!!!
1417   Bitcoin   2021 Jul 12, 8:49pm  

Got one coin on Kraken that i am holding since Coinbase and Binance US didnt have that one listed. Coinbase Pro is my go to exchange though.
1418   Onvacation   2021 Jul 20, 10:38am  

Bitcoin falls below $30,000 as Delta variant fears spread globally
Bitcoin fell below $30,000 again as investors worldwide fret about the Delta variant and what it means for the next stage of the coronavirus pandemic.
https://www.cnn.com/2021/07/20/investing/bitcoin-price-delta-variant-intl-hnk/index.html

Even bitcoin is effected by this terrible pandemic.
1419   Bitcoin   2021 Jul 20, 11:06am  

Buy the dips! Great buying opportunity! Remember......bull market make you money, bear markets make you rich! (if you buy low)
1420   RC2006   2021 Jul 20, 11:16am  

Onvacation says
Bitcoin falls below $30,000 as Delta variant fears spread globally
Bitcoin fell below $30,000 again as investors worldwide fret about the Delta variant and what it means for the next stage of the coronavirus pandemic.
https://www.cnn.com/2021/07/20/investing/bitcoin-price-delta-variant-intl-hnk/index.html

Even bitcoin is effected by this terrible pandemic.


Because bitcoin has no value other than what a holder is willing to pay. If it was all its cracked up to be it should have done the opposite. It also has been going down with inflation so its not a hedge there.
1421   Cash   2021 Jul 20, 11:21am  

Bitcoin says
Buy the dips!


Bob Give me 22500-19500 for a 300%-400% wash rinse repeat... 80K-100K
Just like last time buy 14,000+/- sold at 58K been flat BTC since.
Lot better coins to speculate with considering real use case but if you must ;)
1422   Bitcoin   2021 Jul 20, 12:41pm  

Cash says
Bitcoin says
Buy the dips!


Bob Give me 22500-19500 for a 300%-400% wash rinse repeat... 80K-100K


Welcome back @cash !!
1423   Onvacation   2021 Aug 30, 2:17pm  

All this talk of default has me wondering.

How do you get your money out of bitcoin if the internet goes down?
1424   Eric Holder   2021 Aug 30, 2:31pm  

Onvacation says
All this talk of default has me wondering.

How do you get your money out of bitcoin if the internet goes down?


You don't.
1425   WookieMan   2021 Aug 30, 2:34pm  

Onvacation says
All this talk of default has me wondering.

How do you get your money out of bitcoin if the internet goes down?

A lot would have to go down, but you don't get any money out. If there's a US outage of internet and cell coverage, good luck getting anything for bitcoin. Water, food and guns will be the biggest asset if anything hits that level. Barter from there with what you've got in other resources. Water, food and ammo would be the big 3 you could trade. Not a soul will be caring about crypto.

If the internet were to go out nationwide, that means the entire electrical grid is probably fucked. Your video game tokens are worthless. This is 1,000% true. I don't care about hardware wallets either. Without verification they're worthless.

Anyone in Louisiana right now that rode out the storm. What do they need? Certainly not bitcoin or crypto. They need food, water, sewer, gas, potentially guns and ammo if things devolve. Fortunately the updated pump and levee systems seems to have worked so I don't think the situation should degrade too much. Not one individual is thinking about crypto though in NOLA.
1426   Onvacation   2021 Aug 30, 2:36pm  

WookieMan says
Anyone in Louisiana right now that rode out the storm. What do they need?

Vaxinatin; at least that's what I heard.
1427   AmericanKulak   2021 Aug 30, 5:26pm  

Ammo
Food
Water (esp. Water Purifications, get a couple of spare Berkey filters to trade in addition to keep in reserve)
Batteries
Booze (boring without reliable/cheap electric)
Condoms (boring without reliable/cheap electric)
Beer making equipment (soaking grains)
1428   Patrick   2021 Aug 30, 6:36pm  

WookieMan says
Water, food and guns will be the biggest asset if anything hits that level. Barter from there with what you've got in other resources. Water, food and ammo would be the big 3 you could trade.


Don't forget alcohol and tobacco!

That's why it's the ATF.
1429   Cash   2021 Aug 31, 5:14am  

Onvacation says
All this talk of default has me wondering.

How do you get your money out of bitcoin if the internet goes down?
So you think there will be a different internet for stocks and fiat? I don't really see any difference except you might get some paper
USD until any minor bank run shuts all that down too....
1430   Onvacation   2021 Aug 31, 6:12am  

Cash says
So you think there will be a different internet for stocks and fiat?

no
1431   WookieMan   2021 Aug 31, 7:01am  

Cash says
So you think there will be a different internet for stocks and fiat? I don't really see any difference except you might get some paper
USD until any minor bank run shuts all that down too....

Every wealthy person I personally know has a safe full of cash. My uncle being one. He keeps $200k on hand or more of physical USD. Haven't talked to him in a year with covid and all, but it might be higher now. His buddy and my deceased dad's buddy would have about $1M in physical USD. He just passed away a month or so ago.

Regardless of a potential collapse, at the onset people will 100% take USD. Prices might be inflated super high, but people will still take it in exchange for something. Likely ammo, food, water, guns or booze. So if the internet isn't working or electric grid is down, by default BTC is worthless. Let's see how the aftermath of Ida goes down in NOLA. I don't think people are exchanging BTC to get things.
1432   Cash   2021 Aug 31, 8:00am  

I see the "Creator of Mass Misinformation WookieMan" spews again, Blabber on as if anyone could ever stop you lmao
1433   WookieMan   2021 Aug 31, 8:15am  

Cash says
I see the "Creator of Mass Misinformation WookieMan" spews again, Blabber on as if anyone could ever stop you lmao

Good counter argument. Not a knock on anyone that visits this site, but no multi-millionaire visits this site. There's a reason some of you guys play in crypto. I know it.

Dick around in it all you want. There are better and easier ways to wealth over watching a super volatile "asset" like crypto.
1434   clambo   2021 Aug 31, 8:27am  

Not to troll, but I have very little cash since it is best kept safe in a bank account and I don’t earn any interest lending my money to the bank.

My father liked to have a couple of hundred bucks around in cash.
I think that’s about right.
I’m not in favor of crypto currency either.

Cash in large amounts is like expensive jewelry; it doesn’t appreciate and you worry about someone else trying to get it from you.
1435   Bitcoin   2021 Aug 31, 9:19am  

clambo says
I have very little cash


Yeah, Agree....its best to put cash to work by investing it into stocks, RE and Bitcoin.
1436   Onvacation   2021 Sep 25, 8:12am  

Cash says
I see the "Creator of Mass Misinformation WookieMan" spews again, Blabber on as if anyone could ever stop you lmao

Is he wrong? Do you think people will use bitcoin in a crash?

Argue against his ideas instead of attacking him personally.
1438   seesaw   2021 Sep 27, 1:49pm  

"double your cash"... wtf... regardless if its cash, bitcoin, rubles, pesos, if you fall for the scam, then do we put you, in a stupid category?
I don't express about crypto that often... I know that in 2013, there was no talk of all this crap in this post.
What you don't know or understand leads to those who throw stones. If you didn't get in, in that time frame, their's not much you can say... the small guy had their chance, and those that got in, and stayed in, should be happy.
I took notice in 2013 II got a lot of shit talk, when it peaked at 1200 and did a bounce back down. I really had to turn my back on them... to the skeptics..
It's like a 50 year old working in a corp. world... when the manager saids:.."Were getting new software for our department"... and I see them storming off to the coffee room...
I have to learn something new?
I like my cash... I dont want to convert...
It's my analogy... thanks... I'll stop drinking...

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