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Bitcoin Misinformation

By Onvacation follow Onvacation   2020 Nov 10, 10:01am 10,133 views   1,448 comments   watch   nsfw   quote   share      




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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1409   Bitcoin   ignore (16)   2021 Jun 18, 12:59pm     ↓ dislike (0)   quote   flag        

Onvacation says
If Liz doesn't like it, it must be good.


True! Bitcoin is a great store of value and secure way to store value in a way that cant be taken from anyone. (hardware wallet).
1410   MisdemeanorRebellionNoCoupForYou   ignore (1)   2021 Jun 18, 1:07pm     ↓ dislike (0)   quote   flag        

Bitcoin says
great store of value


It only fluctuates like the flab on a new Victoria's Secret model.
1411   Onvacation   ignore (7)   2021 Jun 23, 9:18am     ↓ dislike (0)   quote   flag        

Onvacation says
Bitcoin rises to reclaim the $40,000 level as the cryptocurrency tries to recover from brutal selloff

Nope! Dipped below 30K instead.
1412   Bitcoin   ignore (16)   2021 Jun 23, 10:25am     ↓ dislike (0)   quote   flag        

beautiful buying opportunity! maybe the last great buying opportunity before we hit 100k!
1413   Onvacation   ignore (7)   2021 Jun 23, 10:31am     ↓ dislike (0)   quote   flag        

BUY THE DIP!

LAUNCHING FOR THE MOON!

soon
1414   Bitcoin   ignore (16)   2021 Jun 23, 10:56am     ↓ dislike (0)   quote   flag        

Onvacation says
BUY THE DIP!

LAUNCHING FOR THE MOON!

soon


100% agree!
1416   WookieMan   ignore (6)   2021 Jun 23, 3:18pm     ↓ dislike (0)   quote   flag        

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.
1417   FuckCCP89   ignore (6)   2021 Jun 23, 3:43pm     ↓ dislike (0)   quote   flag        

Onvacation says
Nope! Dipped below 30K instead.


Back up the truck!
1418   Onvacation   ignore (7)   2021 Jun 23, 5:48pm     ↓ dislike (0)   quote   flag        

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.
1419   Onvacation   ignore (7)   2021 Jun 23, 10:12pm     ↓ dislike (0)   quote   flag        

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.
1420   Onvacation   ignore (7)   2021 Jul 11, 9:45am     ↓ dislike (0)   quote   flag        

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?
1421   FuckCCP89   ignore (6)   2021 Jul 11, 9:47am     ↓ dislike (0)   quote   flag        

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!!!!!
1422   Bitcoin   ignore (16)   2021 Jul 12, 8:49pm     ↓ dislike (0)   quote   flag        

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.
1423   Onvacation   ignore (7)   2021 Jul 20, 10:38am     ↓ dislike (0)   quote   flag        

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.
1424   Bitcoin   ignore (16)   2021 Jul 20, 11:06am     ↓ dislike (0)   quote   flag        

Buy the dips! Great buying opportunity! Remember......bull market make you money, bear markets make you rich! (if you buy low)
1425   RC2006   ignore (2)   2021 Jul 20, 11:16am     ↓ dislike (0)   quote   flag        

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.
1426   Cash   ignore (2)   2021 Jul 20, 11:21am     ↓ dislike (0)   quote   flag        

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 ;)
1427   Bitcoin   ignore (16)   2021 Jul 20, 12:41pm     ↓ dislike (0)   quote   flag        

Cash says
Bitcoin says
Buy the dips!


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


Welcome back @cash !!
1428   Onvacation   ignore (7)   2021 Aug 30, 2:17pm     ↓ dislike (0)   quote   flag        

All this talk of default has me wondering.

How do you get your money out of bitcoin if the internet goes down?
1429   Eric Holder   ignore (0)   2021 Aug 30, 2:31pm     ↓ dislike (0)   quote   flag        

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.
1430   WookieMan   ignore (6)   2021 Aug 30, 2:34pm     ↓ dislike (0)   quote   flag        

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.
1431   Onvacation   ignore (7)   2021 Aug 30, 2:36pm     ↓ dislike (0)   quote   flag        

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

Vaxinatin; at least that's what I heard.
1432   MisdemeanorRebellionNoCoupForYou   ignore (1)   2021 Aug 30, 5:26pm     ↓ dislike (0)   quote   flag        

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)
1433   Patrick   ignore (1)   2021 Aug 30, 6:36pm     ↓ dislike (0)   quote   flag        

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.
1434   Cash   ignore (2)   2021 Aug 31, 5:14am     ↓ dislike (0)   quote   flag        

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....
1435   Onvacation   ignore (7)   2021 Aug 31, 6:12am     ↓ dislike (0)   quote   flag        

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

no
1436   WookieMan   ignore (6)   2021 Aug 31, 7:01am     ↓ dislike (0)   quote   flag        

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.
1437   Cash   ignore (2)   2021 Aug 31, 8:00am     ↓ dislike (0)   quote   flag        

I see the "Creator of Mass Misinformation WookieMan" spews again, Blabber on as if anyone could ever stop you lmao
1438   WookieMan   ignore (6)   2021 Aug 31, 8:15am     ↓ dislike (0)   quote   flag        

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.
1439   clambo   ignore (5)   2021 Aug 31, 8:27am     ↓ dislike (0)   quote   flag        

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.
1440   Bitcoin   ignore (16)   2021 Aug 31, 9:19am     ↓ dislike (0)   quote   flag        

clambo says
I have very little cash


Yeah, Agree....its best to put cash to work by investing it into stocks, RE and Bitcoin.
1441   Onvacation   ignore (7)   2021 Sep 25, 8:12am     ↓ dislike (0)   quote   flag        

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.
1443   seesaw   ignore (0)   2021 Sep 27, 1:49pm     ↓ dislike (0)   quote   flag        

"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...
1444   Bitcoin   ignore (16)   2021 Sep 28, 11:04am     ↓ dislike (0)   quote   flag        

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!
1445   Onvacation   ignore (7)   2021 Oct 5, 6:49am     ↓ dislike (0)   quote   flag        

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"?
1446   WookieMan   ignore (6)   2021 Oct 5, 2:19pm     ↓ dislike (0)   quote   flag        

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.
1447   Onvacation   ignore (7)   2021 Oct 12, 6:47am     ↓ dislike (0)   quote   flag        

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.
1448   Onvacation   ignore (7)   2021 Oct 20, 12:19pm     ↓ dislike (0)   quote   flag        

Mark of the beast!

1 bitcoin = $66616.19

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