patrick.net

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.

Onvacation says

Nope! Dipped below 30K instead.

Back up the truck!

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.

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.

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?

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!!!!!

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.

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.

Buy the dips! Great buying opportunity! Remember......bull market make you money, bear markets make you rich! (if you buy low)

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.

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 ;)

Cash says

Bitcoin says

Buy the dips!

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

Welcome back @cash !!

All this talk of default has me wondering.

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

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.

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.

WookieMan says

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

Vaxinatin; at least that's what I heard.

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)

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.

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....

Cash says

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

no

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.

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

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.

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.

clambo says

I have very little cash

Yeah, Agree....its best to put cash to work by investing it into stocks, RE and Bitcoin.

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.

Anyone you know fall for this?

https://www.bleepingcomputer.com/news/security/bitcoinorg-hackers-steal-17-000-in-double-your-cash-scam/

"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...

Investing in Cardano (ADA) has been the most profitable of all my investments in this life. Cardano is the #3 crypto by marketcap now and just released smart contracts. I invested in it when barely anybody talked about it.

Gen 1 crypto > Bitcoin
Gen 2 crypto > Ethereum (smart contracts) and the other shitcoins
Gen 3 crypto > Cardano (ADA), proof of stake, lets you earn 5% on your holdings....invested in it when it was around 10 cents....now trading over two dollars. Lets go baby!

seesaw says

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?

How about "ignorant"?

Onvacation says

Argue against his ideas instead of attacking him personally.

I don't even care anymore. I get your point about debate. But it hasn't and won't change the pumpers. It's a blind dogma for something that will certainly fail. Public companies with assets do all the time. Crypto has no assets, or at least bitcoin.

There really isn't an argument to be had on the topic. It just turns into pumping which is the goal of the troll pumpers. I've stopped engaging the idiocy of it all. They can go ahead and claim that last piece of shit at the end of a sewer line for another five years. I'm trying to stay out of these threads as much as possible.

WookieMan says

There really isn't an argument to be had on the topic. It just turns into pumping which is the goal of the troll pumpers

Yup.

The value of bitcoin depends on HODLERS thinking they have digital gold. I always laugh when I hear things like, "The market cap of bitcoin has exceeded the GDP of Slovakia". As if trading tokens have a market cap.

Mark of the beast!

1 bitcoin = $66616.19

Just heard a crypto ad, "If you had bought $5,000 worth of Ethereum 6 months ago you would be sitting on $10,000 today!" People still be "HODLing"(spell check actually knows what that is!)

Bitcoin is down to mid 30k range.

TIME TO BUY!!!

HODL HODL HODL

“Easy come, easy go.”

So how come this crypto shit is falling in unison with stonks, spooked by inflation? Wasn't it supposed to be a hedge against exactly this kind of crap?

Onvacation says

Argue against his ideas instead of attacking him personally.

That's absolutely no fun.

FuckCCP89 says

So how come this crypto shit is falling in unison with stonks, spooked by inflation? Wasn't it supposed to be a hedge against exactly this kind of crap?

The current cryptos are entirely based on speculation, just as stocks are.

I don't know about all cryptos, but with Bitcoin in particular, it's unworkable as a way to pay for goods and services. Basically, if you were buying a car, or a house, or some other large purchase that would take around 20 minutes or more to do the transaction, it MIGHT be useful for that.

But nothing else. It's a distributed database, and it's SLOW, so when you move money from one wallet to another, it's both a lengthy, and costly process.

richwicks says

The current cryptos are entirely based on speculation, just as stocks are.

Well, stocks have a kind of natural floor to them. Stocks are in theory shares in an income-producing company. If that income is 10% or higher (a p/e ratio of 10 or lower), rational people will "stock up" on that stock to get that income, assuming they believe the returns will continue at a similar rate.

But yes, on the other side, stocks can be bid far beyond any justification based on the income they produce. That part is speculation.