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436
WookieMan
2020 Aug 20, 2:04am
WookieMan
2020 Aug 20, 2:04am
Newbie123 says
What you fail to realize is there's the mining of BTC, and then there's the mental mining of actual humans who will buy or sell BTC. The emotion. FOMO. You'll get surges, so like I've always said you can make money trading it from lows to highs. But eventually you'll "mine" all the gullible people that think there's any value to BTC and no one will want it anymore because there's inherently no value to it. It's untrustworthy. And ultimately something better will come along.
Basically there will be no demand for it regardless of the finite supply because it does nothing for you besides having a digital spreadsheet in a safe deposit box.
The only difference over time is: less bitcoin are being mined and more people and institutions buy bitcoin Or offer bitcoin exchanges.
What you fail to realize is there's the mining of BTC, and then there's the mental mining of actual humans who will buy or sell BTC. The emotion. FOMO. You'll get surges, so like I've always said you can make money trading it from lows to highs. But eventually you'll "mine" all the gullible people that think there's any value to BTC and no one will want it anymore because there's inherently no value to it. It's untrustworthy. And ultimately something better will come along.
Basically there will be no demand for it regardless of the finite supply because it does nothing for you besides having a digital spreadsheet in a safe deposit box.
437
Onvacation
2020 Aug 20, 5:49am
Onvacation
2020 Aug 20, 5:49am
WookieMan says
Basically there will be no demand for it regardless of the finite supply because it does nothing for you besides having a digital spreadsheet in a safe deposit box.and it cost massive amounts of electricity to maintain. Pull the plug and bitcoin is gone.
438
SoTex
2020 Aug 21, 9:34pm
SoTex
2020 Aug 21, 9:34pm
just_adhom_preaching says
and yet more dump lol... Some guy I have on ignore keeps replying to my posts. Something about a new bull run starting? Haaaa..
I can only see it if I glance at patnet while I'm not logged in at work.
Not just a pump and dump but a pump and dump and dump...
and yet more dump lol... Some guy I have on ignore keeps replying to my posts. Something about a new bull run starting? Haaaa..
I can only see it if I glance at patnet while I'm not logged in at work.
440
Cash
2020 Sep 7, 7:19am
just_adhom_preaching says
9200+/- would be a .382 fibs re-tracement concerning this last rise and could go all the way down to "mean" 7275+/- and still not mean a whole lot
in the big picture just opportunity for those in or wanting to be in this market. I know if the price of a speculation/investment isn't closer to $10 instead
of $10,000 its way to rich for their blood to be in the game.
LOLz...
9200+/- would be a .382 fibs re-tracement concerning this last rise and could go all the way down to "mean" 7275+/- and still not mean a whole lot
in the big picture just opportunity for those in or wanting to be in this market. I know if the price of a speculation/investment isn't closer to $10 instead
of $10,000 its way to rich for their blood to be in the game.
441
WookieMan
2020 Sep 7, 7:34am
WookieMan
2020 Sep 7, 7:34am
just_adhom_preaching says
They're not shares. You can buy fractions of a bitcoin, so there's no barrier to entry at all with regards to the dollar(lol) amount an individual bitcon trades at. People can trade it all they want and make a lot of money, but this isn't gold like. I don't know how far in the future, but it will eventually be worthless. I don't believe I've personally said it would go to $0, but at some point it will get back down into the 100's for sure. Basically worthless from where it sits today and you'd be losing a fuck ton of money if you were heavily invested in it.
I know if the price of a speculation/investment isn't closer to $10 instead
of $10,000 its way to rich for their blood to be in the game.
They're not shares. You can buy fractions of a bitcoin, so there's no barrier to entry at all with regards to the dollar(lol) amount an individual bitcon trades at. People can trade it all they want and make a lot of money, but this isn't gold like. I don't know how far in the future, but it will eventually be worthless. I don't believe I've personally said it would go to $0, but at some point it will get back down into the 100's for sure. Basically worthless from where it sits today and you'd be losing a fuck ton of money if you were heavily invested in it.
443
Patrick
2021 Aug 3, 10:23am
Patrick
2021 Aug 3, 10:23am
https://www.eff.org/deeplinks/2021/08/cryptocurrency-surveillance-provision-buried-infrastructure-bill-disaster-digital
The Cryptocurrency Surveillance Provision Buried in the Infrastructure Bill is a Disaster for Digital Privacy
444
Bitcoin
2021 Aug 4, 2:45pm
Bitcoin
2021 Aug 4, 2:45pm
Patrick says
No.....the US hasnt and wont do anything that stifles Crypto innovation. Instead a Bitcoin ETF will be approved at some point. Media is always good for crypto FUD but just look at the past years and the progress......
Grayscale, Tesla, Microstrategies, even insurance companies and a crypto bank!
Today's news are already telling a different story:
https://www.marketwatch.com/story/senators-move-to-exempt-bitcoin-crypto-miners-from-proposed-u-s-tax-rules-11628102530?mod=home-page
“Digital assets are here to stay,” Lummis said in the press released. “While much more work needs to be done, this amendment is a responsible step toward fully incorporating digital assets into the U.S. financial sector.”
The Cryptocurrency Surveillance Provision Buried in the Infrastructure Bill is a Disaster for Digital Privacy
No.....the US hasnt and wont do anything that stifles Crypto innovation. Instead a Bitcoin ETF will be approved at some point. Media is always good for crypto FUD but just look at the past years and the progress......
Grayscale, Tesla, Microstrategies, even insurance companies and a crypto bank!
Today's news are already telling a different story:
https://www.marketwatch.com/story/senators-move-to-exempt-bitcoin-crypto-miners-from-proposed-u-s-tax-rules-11628102530?mod=home-page
“Digital assets are here to stay,” Lummis said in the press released. “While much more work needs to be done, this amendment is a responsible step toward fully incorporating digital assets into the U.S. financial sector.”
445
SoTex
2021 Aug 5, 9:35am
SoTex
2021 Aug 5, 9:35am
@cash you're correct and I apologize. I was tired and thought you edited my name. It was I who did that.
446
Bitcoin
2021 Sep 3, 12:44pm
Bitcoin
2021 Sep 3, 12:44pm
What happened to all the Bitcoin haters????
Quiet because Bitcoin is over 50k?
Aaaaah i know! The haters "dont care" when Bitcoin is UP.....they only care when Bitcoin is DOWN! Lol
Quiet because Bitcoin is over 50k?
Aaaaah i know! The haters "dont care" when Bitcoin is UP.....they only care when Bitcoin is DOWN! Lol
447
richwicks
2021 Sep 3, 1:11pm
richwicks
2021 Sep 3, 1:11pm
Bitcoin says
They don't care either way.
What happened to all the Bitcoin haters????
Quiet because Bitcoin is over 50k?
Aaaaah i know! The haters "dont care" when Bitcoin is UP.....they only care when Bitcoin is DOWN! Lol
They don't care either way.
448
Bitcoin
2021 Sep 6, 9:36pm
Bitcoin
2021 Sep 6, 9:36pm
richwicks says
Maybe you are new to the blog Richwicks....
whenever Bitcoin corrects the haters put their cheerleader gear on. They only care and hate on Bitcoin investors when Bitcoin offers a buying opportunity (correction). When bitcoin is up....they are suuuuuper quiet. Because then, they "dont care" all of a sudden
ROFL
Bitcoin saysWhat happened to all the Bitcoin haters????
Quiet because Bitcoin is over 50k?
Aaaaah i know! The haters "dont care" when Bitcoin is UP.....they only care when Bitcoin is DOWN! Lol
They don't care either way.
Maybe you are new to the blog Richwicks....
whenever Bitcoin corrects the haters put their cheerleader gear on. They only care and hate on Bitcoin investors when Bitcoin offers a buying opportunity (correction). When bitcoin is up....they are suuuuuper quiet. Because then, they "dont care" all of a sudden
ROFL
450
richwicks
2023 Feb 22, 11:32am
richwicks
2023 Feb 22, 11:32am
Bitcoin says
@Bitcoin, I seriously think you're dead at this point. You first made fun of people who had suspicions of the vaccine, you had adverse reactions to the vaccine, you took advice from Rin, you STILL took another dose, and I've not seen you since.
Are you still alive?
Maybe you are new to the blog Richwicks....
whenever Bitcoin corrects the haters put their cheerleader gear on. They only care and hate on Bitcoin investors when Bitcoin offers a buying opportunity (correction). When bitcoin is up....they are suuuuuper quiet. Because then, they "dont care" all of a sudden
@Bitcoin, I seriously think you're dead at this point. You first made fun of people who had suspicions of the vaccine, you had adverse reactions to the vaccine, you took advice from Rin, you STILL took another dose, and I've not seen you since.
Are you still alive?
451
zzyzzx
2023 Mar 23, 6:23am
zzyzzx
2023 Mar 23, 6:23am
https://www.thestreet.com/investing/cryptocurrency/coinbase-announces-very-bad-news
The cryptocurrency exchange has just announced that it has received a notice from the Securities and Exchange Commission (SEC). This means that the regulator may bring an enforcement action against the largest U.S. crypto exchange.
The cryptocurrency exchange has just announced that it has received a notice from the Securities and Exchange Commission (SEC). This means that the regulator may bring an enforcement action against the largest U.S. crypto exchange.
452
Eric Holder
2023 Mar 23, 11:33am
Eric Holder
2023 Mar 23, 11:33am
zzyzzx says
KEEP YOUR DIRTY GRABBY FED PAWS OFF OUR SECOND GOLD!!!!
https://www.thestreet.com/investing/cryptocurrency/coinbase-announces-very-bad-news
The cryptocurrency exchange has just announced that it has received a notice from the Securities and Exchange Commission (SEC). This means that the regulator may bring an enforcement action against the largest U.S. crypto exchange.
KEEP YOUR DIRTY GRABBY FED PAWS OFF OUR SECOND GOLD!!!!
453
stereotomy
2023 Mar 23, 12:01pm
stereotomy
2023 Mar 23, 12:01pm
Can someone donate a functioning keyboard to @Eric holder? He needs functioning cap keys. Just asking for a friend . . .
454
Eric Holder
2023 Mar 23, 12:54pm
Eric Holder
2023 Mar 23, 12:54pm
stereotomy says
I take donations only in physical PMs, thankyouverymuch.
Can someone donate a functioning keyboard to Eric holder? He needs functioning cap keys. Just asking for a friend . . .
I take donations only in physical PMs, thankyouverymuch.
455
stereotomy
2023 Mar 23, 1:32pm
stereotomy
2023 Mar 23, 1:32pm
Eric Holder says
Looks like he restored his keyboard functionality. Request rescinded.
stereotomy says
Can someone donate a functioning keyboard to Eric holder? He needs functioning cap keys. Just asking for a friend . . .
I take donations only in physical PMs, thankyouverymuch.
Looks like he restored his keyboard functionality. Request rescinded.
457
Eric Holder
2023 Mar 23, 2:37pm
Eric Holder
2023 Mar 23, 2:37pm
stereotomy says
Look who's talking-------------------------------------------^
Can someone donate a functioning keyboard to Eric holder? He needs functioning cap keys. Just asking for a friend . . .
Look who's talking-------------------------------------------^
459
Misc
2023 Mar 24, 6:09am
So the SEC gave a warning that there is a significant risk of loss on Crypto.
https://seekingalpha.com/news/3950596-sec-warns-of-significant-risk-of-loss-for-crypto-investors
I think it would be funnier than shit if Coinbase gave a warning that there is a significant risk of loss by investing in Bank stocks.
https://seekingalpha.com/news/3950596-sec-warns-of-significant-risk-of-loss-for-crypto-investors
I think it would be funnier than shit if Coinbase gave a warning that there is a significant risk of loss by investing in Bank stocks.
461
AmericanKulak
2023 Mar 27, 9:31am
AmericanKulak
2023 Mar 27, 9:31am
Bitcoin says
You haven't heard from us Buttcoin fluffers because we're so busy spending our 30% losses YoY!
SUPERIOR! STORE! OF! VALUE!
whenever Bitcoin corrects the haters put their cheerleader gear on. They only care and hate on Bitcoin investors when Bitcoin offers a buying opportunity (correction). When bitcoin is up....they are suuuuuper quiet. Because then, they "dont care" all of a sudden
ROFL
You haven't heard from us Buttcoin fluffers because we're so busy spending our 30% losses YoY!
SUPERIOR! STORE! OF! VALUE!
462
1337irr
2023 Apr 7, 9:34am
1337irr
2023 Apr 7, 9:34am
Misc says
How come it would be funny?
So the SEC gave a warning that there is a significant risk of loss on Crypto.
https://seekingalpha.com/news/3950596-sec-warns-of-significant-risk-of-loss-for-crypto-investors
I think it would be funnier than shit if Coinbase gave a warning that there is a significant risk of loss by investing in Bank stocks.
How come it would be funny?
463
RWSGFY
2023 Apr 7, 9:39am
RWSGFY
2023 Apr 7, 9:39am
Misc says
Stocks are stocks. Currency is currency. When your currency becomes as risky as stocks there's something wrong with it.
So the SEC gave a warning that there is a significant risk of loss on Crypto.
https://seekingalpha.com/news/3950596-sec-warns-of-significant-risk-of-loss-for-crypto-investors
I think it would be funnier than shit if Coinbase gave a warning that there is a significant risk of loss by investing in Bank stocks.
Stocks are stocks. Currency is currency. When your currency becomes as risky as stocks there's something wrong with it.
464
1337irr
2023 Apr 7, 9:46am
1337irr
2023 Apr 7, 9:46am
Yeah, I don’t know if the dollar is a good bet these days given the deficit spending. Not sure at all on bitcoin, it seems risky.
465
AD
2023 May 4, 2:30pm
AD
2023 May 4, 2:30pm
Just in, Biden proposes a 30% tax for crypto mining
https://www.investopedia.com/biden-wants-30-percent-crypto-mining-tax-but-can-it-work-7488297
https://www.investopedia.com/biden-wants-30-percent-crypto-mining-tax-but-can-it-work-7488297
466
AD
2024 Feb 6, 7:08pm
AD
2024 Feb 6, 7:08pm
.
1) https://bitcoinmagazine.com/business/microstrategy-buys-850-more-bitcoin-for-37-million
2) MicroStrategy owns 189,150 bitcoins as of December 27, 2023. The MicroStrategy announcement states the average purchase price as $31,168.00 USD per bitcoin with a total cost of $5.90 billion USD.
source: https://buybitcoinworldwide.com/microstrategy-statistics/#:~:text=MicroStrategy%20owns%20189%2C150%20bitcoins%20as,cost%20of%20%245.90%20billion%20USD.
3) Is it a software services company or a bitcoin investor ? or both ?
.
1) https://bitcoinmagazine.com/business/microstrategy-buys-850-more-bitcoin-for-37-million
2) MicroStrategy owns 189,150 bitcoins as of December 27, 2023. The MicroStrategy announcement states the average purchase price as $31,168.00 USD per bitcoin with a total cost of $5.90 billion USD.
source: https://buybitcoinworldwide.com/microstrategy-statistics/#:~:text=MicroStrategy%20owns%20189%2C150%20bitcoins%20as,cost%20of%20%245.90%20billion%20USD.
3) Is it a software services company or a bitcoin investor ? or both ?
.
467
WookieMan
2024 Feb 6, 9:45pm
WookieMan
2024 Feb 6, 9:45pm
AD says
In US dollar... It's not a currency. Fine you can trade it and make money. Not different than Walmart that actually provides a service. Tread lightly with anything Bitcoin. I don't have a time horizon on it, but it will go to $100 or less at some point.
The MicroStrategy announcement states the average purchase price as $31,168.00 USD per bitcoin with a total cost of $5.90 billion USD.
In US dollar... It's not a currency. Fine you can trade it and make money. Not different than Walmart that actually provides a service. Tread lightly with anything Bitcoin. I don't have a time horizon on it, but it will go to $100 or less at some point.
468
AD
2024 Feb 6, 10:03pm
AD
2024 Feb 6, 10:03pm
WookieMan says
Why will bitcoin go to $100 or less ? People lose faith in it and why would they lose faith in it ?
Since the SEC has approved ETFs for Bitcoin I don't see much of the government trying to depress its value.
.
I don't have a time horizon on it, but it will go to $100 or less at some point.
Why will bitcoin go to $100 or less ? People lose faith in it and why would they lose faith in it ?
Since the SEC has approved ETFs for Bitcoin I don't see much of the government trying to depress its value.
.
469
WookieMan
2024 Feb 6, 10:10pm
WookieMan
2024 Feb 6, 10:10pm
AD says
Not about government. It's the $$$$. The value is capped and people will lose interest in holding it because the dollar to bitcoin price will go to shit. No time frame, but it's coming.
Why will bitcoin go to $100 or less ? People lose faith in it and why would they lose faith in it ?
Since the SEC has approved ETFs for Bitcoin I don't see much of the government trying to depress its value.
Not about government. It's the $$$$. The value is capped and people will lose interest in holding it because the dollar to bitcoin price will go to shit. No time frame, but it's coming.
470
AD
2024 Feb 6, 11:16pm
AD
2024 Feb 6, 11:16pm
WookieMan says
yep, Bitcoin "halving" ..
As of Dec. 18, 2023, 19.57 million bitcoins have been mined, leaving about 1.45 million bitcoins to release. The total bitcoin supply is capped at 21 million around the year 2140.
So there won't be an more mining of bitcoin when there are 21 million bitcoins in circulation. But what does that really mean as far as bitcoin's value ?
.
AD says
Why will bitcoin go to $100 or less ? People lose faith in it and why would they lose faith in it ?
Since the SEC has approved ETFs for Bitcoin I don't see much of the government trying to depress its value.
Not about government. It's the $$$$. The value is capped and people will lose interest in holding it because the dollar to bitcoin price will go to shit. No time frame, but it's coming.
yep, Bitcoin "halving" ..
As of Dec. 18, 2023, 19.57 million bitcoins have been mined, leaving about 1.45 million bitcoins to release. The total bitcoin supply is capped at 21 million around the year 2140.
So there won't be an more mining of bitcoin when there are 21 million bitcoins in circulation. But what does that really mean as far as bitcoin's value ?
.
« First « Previous Comments 431 - 470 of 510 Next » Last » Search these comments
Hi guys,
I'd like to start a conversation on crypto-currency, particularly Bitcoin.
What do you all think about it from an investment point of view today? I have some buddies in the finance world who are quite bullish on it and claim we are just scratching the surface. Judging by the recent performance, they may be right.
For people who are investing in Bitcoin, what are you using to invest and what recommendations do you have for a new investor?
Also, how are gains taxed compared to typical stock market gains?
I read this week that over 100,000 merchants in the USA are accepting Bitcoin today.
At the same time, digital currency does scare me a bit as it seems so abstract. Curious what PatNet thinks.
Thanks guys!