patrick.net

WookieMan says

What can bitcoin PRODUCE?

What can fiat dollars produce?

It's hard to blame millennials for falling for the crypto scam seeing that they were raised in an inflational environment where Tomorrow's dollars are worth less than todays.

Newbie123 says

As we know bitcoin is deflationary and increases massively in price over time.

Why?


Just kidding, not expecting any answers.

Newbie123 says

Potheads. That explains a lot.

There's a bullshit cryptocurrency for that:

https://www.potcoin.com/

@Patrick - Not sure if you're following this and the other bitcoin thread. I'm not advocating for a ban or anything, but at what point does this guy get labeled a bot?

The not answering questions and just posting random stuff that reeks of pump and dump forums is strong with this one. It almost seems like he/she has it automated, but checks in occasionally as an actual human instead of a scripted thing. Has zero input/comments on any other topic here. Seems weird.

Newbie123 says

I read today:
“They warn that bitcoin is used by criminals, but it's actually our best tool against them.

BUY bitcoin, BYE banks.”

I am kidding. I am not advising anyone to buy bitcoin. Buy stocks, gold, silver and tulips instead ;).

Lol! You haven’t given any advice on anything. You’ve spammed two bitcoin threads where people were looking to have a conversation. Anyone can search out pump and dump articles. They don’t need to be posted here.

You also haven’t given any information on your positions, when you’ve bought, how much you hold, etc. Just childish YouTube videos and links to piss poor articles.

Between you and the panther, you guys are really trashing the place with pure bs. Although since you ONLY post on bitcoin you probably have no idea what I’m talking about.

Dude CryptoCurrency is like magical beans to most people. Shit is useless. Might as well buy snake oil from a door to door salesman.

Newbie123 says

Today’s hearing. FED chairman Powell: “Bitcoin is a store of value. Like gold”

Edited and taken out of context. What he actually said, "almost noone uses Bitcoin for payments, they use it more as an alternative to gold really it's a store of value it's a speculative store of value like gold". Don't be disingenuous.

WookieMan says

You also haven’t given any information on your positions, when you’ve bought, how much you hold, etc. Just childish YouTube videos and links to piss poor articles.

Yes newbie what is your strategy? You have claimed to buy the dips and dollar cost average; which is it?

Since you want to remain obscure can you at least tell us how many figures are in your crypto holdings? Tens of thousands? Hundred thousands? Millions? R U gonna be a bitcoin billionaire?

Newbie123 says

If that’s the case than why did Jerome Powell call bitcoin “store of value” and not “snake oil”?

He was trying to explain why people use it.

Are you gonna answer any questions? It might be educational if you would analyze your actions and consider if you are investing in digital gold or FOMO?

Newbie123 says

my strategy is dollar cost avg and buying the dips.

So how many figures are in your crypto holdings? Tens of thousands? Hundred thousands? Millions?

Cryptocurrency is a virtual asset and a speculative gamble backed by the zeros and ones on your flash drive unlike gold which is also a speculative gamble but is backed by a dense shiny metal which is a real asset.

Newbie123 says

The FED chairman Jerome Powell seems to disagree with you on that. He called it a store of value in yesterday’s hearing.

No. He said that some people use it as a store of value, like gold.

Newbie123 says

Many describe bitcoin as digital gold.

Does that make ethereum digital silver?Newbie123 says

Will it become part of the average investment portfolio in the near future?

Doubtful. For one, there is not enough to go around. Second, most people are smarter than to invest in it.

Newbie123 says

The FED chairman Jerome Powell seems to disagree with you on that. He called it a store of value in yesterday’s hearing.

Who gives a flying fuck about what the FED chairman says about bitcoin? He was asked a question and gave out a random answer. He gives ZERO shits about bitcoin. The fact you're putting any weight into his words is stunning. The dude literally has probably spent 2 minutes in his life thinking about bitcoin.

Newbie123 says

Will it become part of the average investment portfolio in the near future? We’ll see.

Sounds like your confidence is waning over the spreadsheet known as bitcoin and crypto.

Newbie123 says

I buy the dips (mostly bitcoin).

What was the transaction fee for your last purchase?

When the last bitcoin is "mined" (sometime in 2040 due to bitcoin's artificial scarcity scheme) the "miners" will have to depend on transaction fees to keep it going.

The ultimate goal of the gotcoiners/ coinlovers is for cryptos value to overtake gold (it's already more valuable than all the silver in the world) and then to supplant all the world's fiat currency. At that point the patient, disciplined, coiners will cash out and buy stuff.

Did I get it right?

Newbie123 says

It will be another asset class besides gold is my guess.

Good. Finally getting to the bottom of this. You’re guessing.

Also, thought you didn’t use exchanges? Coinbase Pro? Wtf?

Newbie123 says

Lots of upside for Bitcoin. Bitcoin is digital gold.

Bitcoin is not the same. Real gold is hard to extract from the ground, there is physical limitations on the amount of it. And I wouldn't even invest into it, because why buy something that does nothing. Bitcoin is just artificial thing, some guy somewhere can flip a switch and create a billion more, it's like video game gold, putting real money into it is for suckers in my opinion.

FortWayneIndiana says

And I wouldn't even invest into it, because why buy something that does nothing.

Goldbugs are the most misguided investors of all, IMHO.

FortWayneIndiana says

some guy somewhere can flip a switch and create a billion more

Not how it works. Mining is the process of creating more BTC and there is a limit for how much will be created.

I'm not a huge BTC believer for reasons stated above. Summary: BTC is clunky to exchange, w few extra values outside of being a decentralized crypto.

XRP hasn't done as well lately, but XRP is directly connected to a very valuable exchange infrastructure allowing it to provide a much more fundamental value.

Ultimately I think the world will use XRP as one piece of a new exchange system that compete w the petro-dollar. If you pay attention , you can find dozens of central banks and worldwide power players getting behind the potential of XRP.

CBOEtrader says

Not how it works. Mining is the process of creating more BTC and there is a limit for how much will be created.

I don't know how it works, it's too technical for me, or what are the software requirements to earn coins. But as a laymen I see anything on a computer that can be easily duplicated if needed without any hassle. Maybe there are restrictions now, but it's software and restrictions can be lifted as needed.

If they could print kitchen cabinets, they would, but they don't have physical assets or logistics. There is cost it's not a repeatable process.
Bitcoins or whatever video game currency, it's just a piece of software that can be modified as needed if they need another billion. It's backed by nothing.

That's just how I see it. I know it's not very technical, but I am 100% guaranteed to stay out of any virtual gambling. I know a gal who made 20k actually, she bought some coins when they were a couple of dollars long ago, and sold when there was that bubble, bought herself a new car. But I know a bunch of people who lost money (so that our gal can buy a new car).

FortWayneIndiana says

a bunch of people who lost money (so that our gal can buy a new car).

Most crypto buyers think they will get rich. Reality is they will just pay for someone's car.

Onvacation says

FortWayneIndiana says

a bunch of people who lost money (so that our gal can buy a new car).

Most crypto buyers think they will get rich. Reality is they will just pay for someone's car.

Newbie did by his own admission from 2017. Unfortunately all his posts are complete bs lies. And if he did invest he’s broke now. Trying to pump from the 30% dip from $20k (dollars lol). Lost his ass and disappeared for almost 2 years.

Newbie123 says

plan on selling a good junk when we see new ATH’s.

If you can find a greater fool for your good junk.

Newbie123 says

Why do Bitcoiners want to own a Lambo?

Because they got no money?

Time to buy the dip bitcoin under $9500.

You don't invest in Bitcoin. You speculate with it.

rootvg says

You don't invest in Bitcoin. You speculate with it.

I wouldn’t give the pump and dump troll food. I finally scanned through his comment history. He lost his ass in Dec. 2017 “to the moon” fakery. If he’s telling the truth that he actually has btc, he was buying at $15-$16k based on his own comments here.

Then disappeared from here for almost 2 years and is probably still holding the bag hoping to break even on a bad bet and $$$$ sitting idle at a loss not generating income for almost 2 years because he thought it was coming back. All while he missed out on a solid stock market, where there’s legally required disclosures so you know what you’re actually investing in.

But hey, btc is decentralized. You have no idea who holds it and how much. And the super secure blockchain that can be manipulated by a miner crashing the “value” and trust in a “currency” no one actually uses as a currency.

It’s stunning how naive some are. You’d likely do better buying $10k worth of lotto tickets than speculating in btc. Actually, I’d bet there are faaaarrrr more lotto millionaire versus btc. You at least know your odds and the government won’t attempt to ban it in our lifetimes.

Newbie123 says

For some bitcoin is a great investment (like me).

It is? Where is the proof?

Newbie123 says

Hugo, That’s easy to determine. You just compare your cost base to your portfolio value based on current price minus expected taxes

Exactly. There is no proof you hold any of it and/or no evidence your cost basis is lower than the current price. For all we know you are one of these sorry fucks who bought at the last top and now desperately trying to pump that shit to get out and dump it on the next sucker.

Where are the fucking screenshots of your holding and transactions?

Crickets.

Newbie123 says

If you are too lazy to enter the data

How about a round number? $20,000 $50,000 $100,000? About how much is your

Newbie123 says

portfolio

Worth approximately? Are you a player or just another cryptofool?

Newbie123 says

your coins are stored on a hardware wallet

Crypto wallets don't hold coins.

A lot of suckers go for the terminology: "coins", "mining", "currency", "digital gold", "wallet"

I wonder if you even understand how blockchain works?

Newbie123 says

Why would I want to prove to someone what I bought, hold or sold? What would be a reason/benefit for me to do that?

So we can tell how big a fool you are.

Newbie, no investor ever tells others how to make a fortune. Because if it was so simple, you'd do it yourself and be so filthy rich you wouldn't even post for yourself. But yet here you are, probably broke too, begging others to join your losses.

This isn't an idiot forum where people will just believe you just because you said something. Reminds me of this scammer we had locally who used similar tactic selling multi level marketing stuff.

Newbie123 says

Libra is not on a blockchain

Libra is an idea in development that will use a new programming language. The proposed data structure does not use blocks like bitcoin. The proposed facebook coin has little in common with bitcoin.

This is all academic as Libra is vaporware at this point.

Newbie123 says

I am entertained by the lack of knowledge

So are we. Time will school you.

Newbie123 says

Yes I do believe bitcoin will go up in value over time (a lot).

What makes you think that? What makes bitcoin valuable?

Again, I don't expect any answers. Ignorance is bliss until it kicks you in the wallet.

Newbie123 says

it’s fun.

I too enjoy trolling. It's fun seeing the cognitive dissonance when you present some people with facts.

Newbie123 says

FortWayneIndiana says

Newbie, no investor ever tells others how to make a fortune. Because if it was so simple, you'd do it yourself and be so filthy rich you wouldn't even post for yourself. But yet here you are, probably broke too, begging others to join your losses.

This isn't an idiot forum where people will just believe you just because you said something. Reminds me of this scammer we had locally who used similar tactic selling multi level marketing stuff.

Johnwayne,
I am not here to sell anything. Yes I do believe bitcoin will go up in value over time (a lot). And I am not trying to make others believe anything. I said multiple times I am not here to convince anybody.
I am entertained by the lack of knowledge (crypto) and I do correct people if they are wildly incorrect. I also get a kick out of what bitcoin haters post. Again, I have zero issue with you saying bitcoin is s...

51% attack. Explain why it can’t destroy bitcoin? Explain why a government, especially the US couldn’t drop a couple billion and out mine anyone else and essentially destroy the blockchain in the process? $30 billion is getting a snickers bar for the US government and it likely wouldn’t have to be approved by Congress if it’s for “national security.” What “miner” could compete with that capital?

Not one and you know it. Counter this fact with something intelligent.

Newbie123 says

I am accumulating more.

Why? Do you expect to sell it to the next greatest fool or the last greatest fool?

But for belief, bitcoin is worthless. At least with silver and gold you get to hold a "barbarous relic".

WookieMan says

Counter this fact with something intelligent.

Yeah, something intelligent!

Newbie123 says

You can’t have any losses if you don’t sell.

Are you this dense? You can’t have any gains either if you don’t sell! Wtf are you even talking about at this point? Pump, pump, pump said your dad to your sister. Jesus.