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Bitcoin Misinformation


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2020 Nov 10, 10:01am   135,458 views  2,177 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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1941   Onvacation   2022 Sep 7, 10:13am  

People also ask
How much is BTC worth in 2025?
It is assumed that in 2025, the minimum BTC price might drop to $85,596.05, while its maximum can reach $102,438.17. On average, the trading cost will be around $88,043.53.
https://changelly.com/blog/bitcoin-price-prediction/
1942   Onvacation   2022 Nov 9, 11:02am  

WOW!
BTC 16,591.00USD
−1,956.50 (10.55%)today

Down 10% today. They must have stiffed the mules.
1943   Eric Holder   2022 Nov 9, 11:44am  

Onvacation says

WOW!
BTC 16,591.00USD
−1,956.50 (10.55%)today

Down 10% today. They must have stiffed the mules.


IT"S A BUYING OPPORTUNITY!!!!
1945   DD214   2022 Nov 10, 5:23am  

From a $32 billion valuation to a fire sale in 11 months: How FTX nosedived in spectacular fashion

https://markets.businessinsider.com/news/currencies/ftx-crypto-implosion-sam-bankman-fried-loses-billions-sequoia-trillionaire-2022-11
1946   DD214   2022 Nov 10, 5:25am  

Tom Brady and other super wealthy investors lost big money in FTX’s collapse

https://fortune.com/2022/11/09/tom-brady-ftx-crypto-collapse-lost-investment/
1947   1337irr   2022 Nov 10, 6:18am  

DD214 says

Tom Brady and other super wealthy investors lost big money in FTX’s collapse

https://fortune.com/2022/11/09/tom-brady-ftx-crypto-collapse-lost-investment/

And his wife divorced him...so there's that.
1948   WookieMan   2022 Nov 10, 7:33am  

1337irr says

And his wife divorced him...so there's that.

Didn't she make more than him? She also didn't want him to play football anymore. I'd agree with her. They're wealthy enough. Why get brain damage. You're considered the GOAT. I don't see anyone getting remotely near what stats he's achieved. He's going to end on a low note and lose a super model wife that still is hot at her older(ish) age. Some dudes are morons.

Don't pander to the woman, but for christ sake, football is the dumbest sport on the planet. He should have retired by now. Or maybe he's bad with money? Who knows. There's no point in playing anymore. Plenty of endorsement and commentary opportunities to bring in 7 figures easy.
1949   mell   2022 Nov 10, 9:39am  

Eric Holder says

Onvacation says


WOW!
BTC 16,591.00USD
−1,956.50 (10.55%)today

Down 10% today. They must have stiffed the mules.


IT"S A BUYING OPPORTUNITY!!!!

It's because of the FTX disaster. whether btc can come back to previous levels and at least hold 20k again remains to be seen, we continue to be bearish, but it won't go away
1951   DD214   2022 Nov 11, 2:56am  

Bankman-Fried’s Cabal of Roommates in the Bahamas Ran His Crypto Empire – and Dated. Other Employees Have Lots of Questions.

“The whole operation was run by a gang of kids in the Bahamas,” a person familiar with the matter told CoinDesk on condition of anonymity.

https://www.coindesk.com/business/2022/11/10/bankman-frieds-cabal-of-roommates-in-the-bahamas-ran-his-crypto-empire-and-dated-other-employees-have-lots-of-questions/
1952   EBGuy   2022 Nov 11, 7:20pm  

Eric Holder says

IT"S A BUYING OPPORTUNITY!!!!

I'll say... about time!

1953   RWSGFY   2022 Nov 12, 7:49am  

BACK UP THE TRUCK!!!
1955   zzyzzx   2022 Nov 15, 11:21am  

Short AMD and NVIDIA?
1956   DD214   2022 Nov 16, 5:18am  

Genesis’ Crypto-Lending Unit Is Halting Customer Withdrawals in Wake of FTX Collapse. The unit, known as Genesis Global Capital, serves an institutional client base and had $2.8 billion in total active loans as of the end of the third quarter of 2022.

https://www.coindesk.com/business/2022/11/16/genesis-crypto-lending-unit-is-halting-customer-withdrawals-in-wake-of-ftx-collapse/
1957   1337irr   2022 Nov 16, 5:24am  

zzyzzx says

Short AMD and NVIDIA?

Nvidia is a better short than AMD because AMD has less reliance on mining hardware.
1959   Tenpoundbass   2022 Nov 16, 6:15am  

Nobody would never answer me when I used to ask. "What happens when the guy who's Hardware, your BitCoins are running through, runs off with the hard Currency backing the Bitcoins?"

They never liked hearing that, the notion that Cash backs Blockchain digital currency. It's supposed to be the other way around the blockchain is backing the dollar, they said.

What a brilliant Ponzi scheme. Even the Fed Chief was suckered into considering converting our whole economy over to it.
1960   Onvacation   2022 Nov 16, 6:52am  

Tenpoundbass says

"What happens when the guy who's Hardware, your BitCoins are running through, runs off with the hard Currency backing the Bitcoins?"

The money going into crypto is consumed. There is no "store of value" to run off with.
1962   Onvacation   2022 Nov 20, 7:45pm  

BTC Under 15K! BUY!

Miners got kids that have to eat.
1963   DD214   2022 Nov 21, 5:30pm  

Days after its lending unit was forced to halt withdrawals in wake of the collapse of crypto exchange FTX, Genesis Global Trading has mentioned bankruptcy as a potential option as it seeks fresh capital, reports Bloomberg citing people with knowledge of the matter.

https://www.coindesk.com/business/2022/11/21/genesis-bankruptcy-jitters-send-bitcoin-to-fresh-low/
1964   AD   2022 Nov 21, 6:36pm  

As of the end of July 2022
.



,
1965   AD   2022 Nov 21, 7:00pm  

Look at Microstrategy and other bitcoin stocks like Coinbase

Bitcoin broke below $16000 recently :-/

When does Microstrategy stock goes to $0 ? I use to live near its headquarters.

.
1967   clambo   2022 Nov 22, 5:47pm  

Let's now have a moment of silence for those who paid $62,000 for their Bitcoins.
1968   DD214   2022 Nov 23, 5:56am  

Alameda-Backed Crypto Trading Firm 3Commas Says It’s Pretty Sure It Wasn’t Breached - But Not 100% Positive

https://finance.yahoo.com/news/alameda-backed-crypto-trading-firm-131500898.html
1969   DD214   2022 Nov 23, 5:57am  

Everyone ready for Bitcoin bonds ? Anyone think there might be a problem ahead ?

El Salvador Proposes Digital Securities Bill, Paves Way for Bitcoin Bonds

https://www.coindesk.com/policy/2022/11/23/el-salvador-proposes-digital-securities-bill-paves-way-for-bitcoin-bonds/
1970   DD214   2022 Dec 5, 4:09am  

Bitcoin may sink further 70% in Standard Chartered list of possible 2023 upsets

https://www.theedgesingapore.com/news/cryptocurrency/bitcoin-may-sink-further-70-standard-chartered-list-possible-2023-upsets

The above article is also on Bloomberg this morning but is behind a paywall
1971   richwicks   2022 Dec 5, 4:56am  

DD214 says

Bitcoin may sink further 70% in Standard Chartered list of possible 2023 upsets


In keeping with my belief that all mainstream press lies and is used exclusively to misdirect people, I bet this is the bottom of the market.
1972   DD214   2022 Dec 5, 8:13am  

richwicks says


I bet this is the bottom of the market.

You may want to start doing more reading and research before putting any money on the table for that bet. Lots more.
1976   stereotomy   2022 Dec 9, 11:18am  

zzyzzx says




Play stupid games, win stupid prizes.
1977   Onvacation   2022 Dec 9, 5:12pm  

Onvacation says

BTC Under 15K! BUY!

Miners got kids that have to eat.

Back up over $17K. The kids are eating.

If you could buy a little more and raise the price back up over $30K the miners can afford some hookers and blow again.
1978   Onvacation   2022 Dec 9, 5:14pm  

The opposite of "store of value" bitcoin is a consumer of value.
1979   DD214   2022 Dec 13, 11:52am  

richwicks says

I bet this is the bottom of the market.

Cryptoverse: Jump Or Slump? $30k Or $5k? Play The Bitcoin Roulette

https://www.ibtimes.com/cryptoverse-jump-slump-30k-5k-play-bitcoin-roulette-3646565

FYI - I am convinced more pain lies ahead
1980   Bd6r   2022 Dec 13, 11:53am  

I wonder where are the bitcoin fans who were dominating this thread a year ago?

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