patrick.net

Cash says

new asset class

Fiat digital currency, twice removed from real assets because it is valued in fiat money which is valued in the faith and good credit of the country that issued it. I have little faith in the fiat dollar and even less in its digital derivatives. If the dollar crashes what will bitcoin be traded in?

All digital currencies require a greater fool to make a profit while requiring vast resources to keep them going. In all of the posts to this thread nobody has successfully rebutted this premise; nobody.

If you want to gamble don't pretend like you are investing. FOMO keeps it going.

Onvacation says

If the dollar crashes what will bitcoin be traded in?

BTC can be traded for anything really it don't exist because of the $. The dollar is just 1 of the many measuring sticks, p2p or b2b could trade anything they wish
for BTC. To disclose I don't own any BTC and just some dust of ETH.
What Happens to Bitcoin if the Dollar Crashes?
https://coinmarketcal.com/en/news/what-happens-to-bitcoin-if-the-dollar-crashes?source=patrick.net
Here are few opinions which I am in agreement that BTC appreciates initially, long term I have no idea of what it's
real value will be in the next few year however short term I see IMHO 89k-104k this year 2022 easy.

BTC has problems with POW/energy/ greenies and ETH besides it's high fees and the fact so far it's scaling is crap will likely
soon be in the SEC sights and under scutiny for its initial offering and some illegal promotions in the beginning ICO.

Onvacation says

If you want to gamble don't pretend like you are investing. FOMO keeps it going.

I hate to inform you OV every investment/trade is a gamble. Investing 101
Prove my statement is wrong or go find another uninformed uneducated opinion.

Cash says

I hate to inform you OV every investment/trade is a gamble.

Lottery tickets are a gamble, but probably a safer bet than HODLing Bitcoin, wouldn't you agree?

Every investment is a gamble. All I am saying is that any value crypto has depends on a greater fool thinking it is more valuable than what you paid for it. A greater fool ready to part with his money. It has no substance other than electronic zeros and ones.

The value of any/all/every investment depends on a greater fool thinking it is more valuable than what you paid for it.
That rings true for all investments. You really should go study for a minute and go find some kind of fresh argument.
However I am sure you are not interested at all about the reality of cryptos. I would call you a spammer if you weren't the 1
who created this BS post lol Fortunately most know a old man and his tired old arguments have little value.
Crypto is way bigger then BTC.

Onvacation says

Lottery tickets are a gamble, but probably a safer bet than HODLing Bitcoin, wouldn't you agree?

Not at all and I bet most here don't agree with that naive uneducated statement. Maybe wookie dog
I wish you could hear how ignorant, pushing stupid you sound

You should ask where all the brightest from MIT want to work?
You think they are going to your old tired cheating legacy financial entities?

Actually they probably are, except they are going to those institutions to develop crypto
management applications systems etc. because the old fucks have no clue and need
the young blood to come rescue them before they are left behind.

Cash says

I bet most here don't agree with that naive uneducated statement. Maybe wookie dog
I wish you could hear how ignorant, pushing stupid you sound

You resorted to personal attack. I win.

Unless you can tell me HOW to make money in crypto without finding a bigger fool.

Crypto development Jobs out the ass!!! What an opportunity fortunately these people arn't so bias as to not see the truth..
https://crypto.jobs/?source=patrick.net
CryptoJobs is the #1 website for blockchain jobs. We believe the emergence of blockchain technology and decentralized applications will change the world as we know it, and it’s already happening. We’re on a mission to connect talented individuals to the best blockchain projects, to accelerate the advent of a more decentralized world.

Browse by categories
Browse by top locations

Onvacation says

Unless you can tell me HOW to make money in crypto without finding a bigger fool.

Just look above... I guess you dont win lol Mic Drop!!! peace out ;)

Cash says

Onvacation says

Lottery tickets are a gamble, but probably a safer bet than HODLing Bitcoin, wouldn't you agree?

Not at all and I bet most here don't agree with that naive uneducated statement. Maybe wookie dog
I wish you could hear how ignorant, pushing stupid you sound

Dude you sound like a bitter human. Desperate for riches. I haven't commented on any of this in a while and I somehow get brought into this?

Trade your made up "currencies" and make money if you can. Why do you care so much that you bring up a commenter that hasn't touched a BTC/Crypto threads in months? Reeks of insecurity. You do you. I'll do better.

I knew you were tolling this thread lmao I knew you could not restrain yourself I just wanted to bait you and give
opportunity to spam with your are BS trying to save everybody from crypto... lmao Which has been your only argument
and I bet you even got tired of you own worthless spam.

Stupid is as stupid does.

Cash says

I knew you were tolling this thread

Legit described yourself. I'm out.

Onvacation says

Stupid is as stupid does.

Yep you and wookie forever... Did you see the ocean of crypto jobs? Which invalidates all the BS you both you have
posted since the beginning of this thread.

Crypto development Jobs out the ass!!! What an opportunity fortunately these people arn't so bias as to not see the truth..
https://crypto.jobs/?source=patrick.net
CryptoJobs is the #1 website for blockchain jobs. We believe the emergence of blockchain technology and decentralized applications will change the world as we know it, and it’s already happening. We’re on a mission to connect talented individuals to the best blockchain projects, to accelerate the advent of a more decentralized world.

Browse by categories
Browse by top locations

Cash says

Crypto development Jobs out the ass!!!

What is the ultimate product or service these "out the ass" jobs provide?

Onvacation says

What is the ultimate product or service these "out the ass" jobs provide?

Besides gigantic pay checks and long careers that have the strongest demand any developer could possibly wish for any time in history, The new financial system will be digital not likely BTC or ETH but several others have the perfect utility to be a part of... Especially XRP which is the most likely candidate to be a big part of, or perhaps replace the SWIFT system with cross border ODL pmts at fraction of a penny in seconds not days. End game the the 4th industrial revolution, and whats more important then replacing the finacial ponzi scheme that exits now that you put your faith in.

https://earthweb.com/cryptocurrency-statistics/?source=patrick.net
.
.

.
.
.
70. Bitcoin Is in The Top 30 of Entities that Use Energy in The World
And the rest of the entities in the top 30 are countries.

71. The Amount of Carbon that Bitcoin Miners Emit Is More than The Entire Country of New Zealand
This includes industrial, power, commercial, and transportation emissions.

72. Bitcoin Uses the Same Amount of Energy as All Worldwide Data Centers
This stat shows that Bitcoin is taking up a lot of the world’s energy.

73. Bitcoin Mining Surpasses Gold Mining in Energy Intake
This means that mining for Bitcoin takes up more global carbon emissions than mining for gold.
.
.
.

Cash says

End game the the 4th industrial revolution, and whats more important then replacing the finacial ponzi scheme that exits now that you put your faith in.

Had to look it up

from the World Economic Forum:

The Fourth Industrial Revolution represents a fundamental change in the way we live, work and relate to one another. It is a new chapter in human development, enabled by extraordinary technology advances commensurate with those of the first, second and third industrial revolutions. These advances are merging the physical, digital and biological worlds in ways that create both huge promise and potential peril. The speed, breadth and depth of this revolution is forcing us to rethink how countries develop, how organisations create value and even what it means to be human. The Fourth Industrial Revolution is about more than just technology-driven change; it is an opportunity to help everyone, including leaders, policy-makers and people from all income groups and nations, to harness converging technologies in order to create an inclusive, human-centred future. The real opportunity is to look beyond technology, and find ways to give the greatest number of people the ability to positively impact their families, organisations and communities.

https://www.weforum.org/focus/fourth-industrial-revolution?source=patrick.net
Sounds like more of that new world order bullshit.

Onvacation says

Sounds like more of that new world order bullshit.

No its just everyone sees the power of blockchain and all it's use cases and wants a piece of it....

Onvacation says

https://earthweb.com/cryptocurrency-statistics/?source=patrick.net
.
.

.
.
.
70. Bitcoin Is in The Top 30 of Entities that Use Energy in The World
And the rest of the entities in the top 30 are countries.

71. The Amount of Carbon that Bitcoin Miners Emit Is More than The Entire Country of New Zealand
This includes industrial, power, commercial, and transportation emissions.

72. Bitcoin Uses the Same Amount of Energy as All Worldwide Data Centers
This stat shows that Bitcoin is taking up a lot of the world’s energy.

73. Bitcoin Mining Surpasses Gold Mining in Energy Intake
This means that mining for Bitcoin takes up more global carbon emissions than mining for gold.
.
.
.

Not very Green, is it? Imagine what else we could do with all that energy -- like fire up some heavy industry.

Cash says

Onvacation says

Sounds like more of that new world order bullshit.

No its just everyone sees the power of blockchain and all it's use cases and wants a piece of it....

Blockchain is so powerful it can defeat Putin, end ‘Rona and racism and reverse global warming all while making us all insanely wealthy right? Well the insane part sounds about right.

Cash says

everyone sees the power of blockchain and all it's use cases and wants a piece of it....

It is open source, you know.

Cryptocurrency is dangerous, the Better Business Bureau says. The crypto scams are the second most risky
https://medium.com/coinmonks/cryptocurrency-is-dangerous-the-better-business-bureau-says-401f94bf580e?source=patrick.net

Beware.

I'm not a big fan of the BBB but even they can see cryptocurrency is a scam.

47,209.30 USD

BUY NOW OR BE PRICED OUT FOREVER!

It's making it's moonshot.

Rin says

Folks, can we keep the hate mail vs fanboy stuff on the other thread.

Sure.

Crypto is a scam that uses an incredible amount of energy. All of the capital going into the system is consumed by the miners. The only way to make money on it is to find a bigger fool to pay more than you did for it. In over a thousand comments in this thread not one person has refuted these facts.

If you want to talk about trend lines and market cap and breakouts "To the moon" your just pushing a scam.

I'm not hatin' just telling it like it is.

Onvacation says

Crypto is a scam that uses an incredible amount of energy.

I learned this week that there are ~85% of dams in the US where: They thought about adding turbines for energy but didn't do it.

Now bitcoin (in particular) interested institutional investors are plowing money into refitting these with turbines. The idea is renewable energy for mining AND during high demand energy that didn't exist for locals. This apparently started in Norway first and is called, "The Norway Model".

There are others.

Mr. Wonderful (8.5mins):

https://www.youtube.com/watch?v=7MOj6S2-zJo&source=patrick.net

FJB says

Now bitcoin (in particular) interested institutional investors are plowing money into refitting these with turbines. The idea is renewable energy for mining AND during high demand energy that didn't exist for locals. This apparently started in Norway first and is called, "The Norway Model".

So what are you saying, crypto will electrify the rural world?

Still waiting for answers from the fanbois.

How do you get your money out without someone paying you more than you paid?

You can't.

What backs crypto if all of the incoming money is consumed by the miners, who slowly dribble coins out to auction?

Nothing.

What would happen if the HODLers try to cash out?

Onvacation says

So what are you saying, crypto will electrify the rural world?

lol. Probably once the last coin is mined and we built all this infrastructure. Until then or it going to zero, I'm all for the expansion of "green" energy.

Problem is the new turbines will probably create too much vibrations in the water for the fish to be comfortable and will probably never happen. Sarcasm aside, this is literally the only positive (outside of trading it back and forth) for crypto. You can make money trading, but nobody, anywhere can tell me what IT is. Every person gives a completely different answer.

It's not an investment, but say I go to 10 different car dealers and ask about the Bronco. I get 10 different pitches about the features of the car that are waaaaaay different. That's crypto. It's the same car and you all can't explain it?

WookieMan says

You can make money trading, but nobody, anywhere can tell me what IT is

But they can post a gazillion links to various articles and videos and then whine you didn't read/watch them all. =))

My rule of thumb: if you can't explain something to someone in your own words you don't really understand it yourself. (Or was it Feynman who said it?)

Eric Holder says

But they can post a gazillion links to various articles and videos and then whine you didn't read/watch them all. =))

That's my biggest beef and I agree. I like footnotes and credits for ideas, but if YOU cannot explain it, it's bullshit in my world. Don't rely on others to make your argument or point. TELL me what it is. Every link is word salad 100% of the time.

It takes 2 seconds to find a positive crypto link. Thousands actually. Explain. IT.

Hasn't happened to date here at Patnet or any other sites I visit. It's a spreadsheet that verifies mining and transactions with a fuck ton of electric usage and ZERO physical utility and is valued in fiat currency. It's literally an excel spreadsheet. I've sent 5 figures over seas in seconds to family without crypto. There is no value proposition with crypto. It's 1,000,000% speculation.

Trade it, but know where it's going. I think most do, but will be stubborn to the end and get fucked over by their own stupidity.

WookieMan says

That's crypto. It's the same car and you all can't explain it?

The fanbois don't even try to explain it.

They think it's digital gold. Never mind that it has no intrinsic or real useful value. The fanbois just think they can find someone to pay more than they paid for it.