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Bitcoin Misinformation

By Onvacation follow Onvacation   2020 Nov 10, 10:01am 7,359 views   1,291 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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1252   Onvacation   ignore (5)   2021 Feb 22, 11:40am     ↓ dislike (0)   quote   flag      

stick bits - the new Gold!
1253   Onvacation   ignore (5)   2021 Feb 23, 4:12pm     ↓ dislike (0)   quote   flag      

I would not be surprised if bitcoin went up to 100K.

It's a gamble. I never won big in Vegas. I never lost big either. I play with a couple hundred $ at the 21 table, throw some tokens into the one arm bandits, and if I win? I pull some off the table or cash in my bucket of tokens.

I'm not much of a gambler. I usually don't lose all of my $200, have a few drinks, and pocket a couple chips when I'm on a roll. I don't let it ride. I think on my biggest night I left with $800.

I haven't been to a casino for a while.
1254   G36   ignore (7)   2021 Feb 23, 5:54pm     ↓ dislike (0)   quote   flag      

Onvacation says
I would not be surprised if bitcoin went up to 100K.




100k this year at the very minimum. More likely is 150-200k. We see a lengthening cycle compared to the previous 4 year cycles. This time around we have heavy buying by institutions (Tesla, Paypal, Microstrategies, Square, etc). Now we have a Bitcoin ETF. One can not afford to not hold Bitcoin.
1255   Onvacation   ignore (5)   2021 Feb 23, 6:18pm     ↓ dislike (0)   quote   flag      

G36 says
One can not afford to not hold Bitcoin.

Why?

What is going to happen to all of the people that don't want to dabble in bitcoin?
1256   Eric Holder   ignore (0)   2021 Feb 23, 6:19pm     ↓ dislike (0)   quote   flag      

Onvacation says
What is going to happen to all of the people that don't want to dabble in bitcoin?


They will be poor and living under the bridge while bitcoin billionaires will be living in Caligulan splendor.
1257   Blue   ignore (0)   2021 Feb 23, 6:29pm     ↓ dislike (0)   quote   flag      

Eric Holder says
Onvacation says
What is going to happen to all of the people that don't want to dabble in bitcoin?


They will be poor and living under the bridge while bitcoin billionaires will be living in Caligulan splendor.


Sometimes creating a Ponzi scheme is not very difficult when things are in right place.
1258   G36   ignore (7)   2021 Feb 24, 9:02am     ↓ dislike (0)   quote   flag      

that was a cute little dip.....obviously the bears didnt buy. Sorry you got so excited .....short lived.
1259   Onvacation   ignore (5)   2021 Feb 24, 10:05am     ↓ dislike (0)   quote   flag      

G36 says

100k this year at the very minimum.

Or it could revert to it's actual value.

I suspect that eventually bitcoin will be a subscription service where no one is actually buying the $100,000.00 bitcoin but the HODLer's are paying the "miners" to update the list of "bitcoin millionaires.".
1260   Onvacation   ignore (5)   2021 Feb 24, 10:07am     ↓ dislike (0)   quote   flag      

Is there a million? Or ten million Satoshis in a bitcoin?

Someday a whole coin will be worth more than the country of Slovakia and people will bid outrageous prices for the few Satoshis that ever hit the market.

The halvening is real.
1261   zzyzzx   ignore (2)   2021 Feb 24, 10:14am     ↓ dislike (0)   quote   flag      

Onvacation says
Crypto Hedge Funds Defraud $100 Million From Investors


Fixed:
Crypto Hedge Funds Defraud $100 Million From Gamblers
1262   G36   ignore (7)   2021 Feb 24, 1:03pm     ↓ dislike (0)   quote   flag      

I agree, Bitcoin is probably going to reach 250k by this year. thanks

and thanks TESLA
1263   Onvacation   ignore (5)   2021 Feb 24, 4:15pm     ↓ dislike (0)   quote   flag      

G36 says
Bitcoin is probably going to reach 250k

Would you be willing to pay a "miner" a fee to confirm that?
1264   G36   ignore (7)   2021 Feb 24, 5:57pm     ↓ dislike (0)   quote   flag      

every time i have moved Digital gold (Bitcoin) from an exchange to my Trezor i paid small transaction fees (you call it miner fee).
I love miners.....thanks for mining Bitcoin dear miners! I dont mind if you increase your fees by 10x. Without miners we would not have Bitcoin at 50K and we sure as hell would not have the alt coin market skyrocket because without Bitcoin the Altcoin market would be dead.

Miners for president! Go miners! We love you!
1265   Onvacation   ignore (5)   2021 Feb 24, 8:19pm     ↓ dislike (0)   quote   flag      

G36 says
i paid small transaction fees (you call it miner fee).

Do you even know how bitcoin works?
1266   Onvacation   ignore (5)   2021 Feb 24, 8:20pm     ↓ dislike (0)   quote   flag      

Not expecting a cogent answer.
1267   G36   ignore (7)   2021 Feb 24, 9:11pm     ↓ dislike (0)   quote   flag      

G36 says
every time i have moved Digital gold (Bitcoin) from an exchange to my Trezor i paid small transaction fees (you call it miner fee).
I love miners.....thanks for mining Bitcoin dear miners! I dont mind if you increase your fees by 10x. Without miners we would not have Bitcoin at 50K and we sure as hell would not have the alt coin market skyrocket because without Bitcoin the Altcoin market would be dead.

Miners for president! Go miners! We love you!


i would actually pay 20x more fees. they are sooo low, that even a 20x wouldnt be noticeable.
1268   RC2006   ignore (2)   2021 Feb 24, 9:14pm     ↓ dislike (0)   quote   flag      

peak FOMO
1269   G36   ignore (7)   2021 Feb 24, 9:16pm     ↓ dislike (0)   quote   flag      

Mining pools should get medal of honors.
1270   Onvacation   ignore (5)   2021 Feb 25, 6:17am     ↓ dislike (0)   quote   flag      

You do know that the miners don't get the exchange fees but work for new " coins"? Don'tcha?
1271   Onvacation   ignore (5)   2021 Feb 25, 6:18am     ↓ dislike (0)   quote   flag      

The fees are paid by the next greatest fool to the exchanges.
1272   G36   ignore (7)   2021 Feb 25, 7:57am     ↓ dislike (0)   quote   flag      

Have you found the next greater fool yet to buy your matchbox car? that you paid 10k for?
1273   Onvacation   ignore (5)   2021 Feb 25, 8:02am     ↓ dislike (0)   quote   flag      

Hope you took some profits. It's a long way down.
1274   G36   ignore (7)   2021 Feb 25, 8:04am     ↓ dislike (0)   quote   flag      

I havent taken any profits in BTC yet. Simply because we didnt hit 400k yet. Its only at 51k....i agree....it will take a few more weeks to get there.
Cardano, i will probably sell at around $10 bucks....i bought it at an avg of 10 cents.....just like those numbers....from 10 cents to $10 dollars :)
1275   Onvacation   ignore (5)   2021 Feb 25, 8:06am     ↓ dislike (0)   quote   flag      

G36 says
I havent taken any profits in BTC

We know.
1276   G36   ignore (7)   2021 Feb 25, 8:08am     ↓ dislike (0)   quote   flag      

Onvacation says
G36 says
I havent taken any profits in BTC

We know.


Of course! Why should i have spent my precious digital gold coins at a price of say 40k....when just a few days later its at 50k.....why should i spend my precious coins at 51k if I believe it will go to 400k? Its smart money. Dumb money (Wookieman) will buy my precious digital gold coins when I sell at 400k.
1277   Onvacation   ignore (5)   2021 Feb 25, 8:11am     ↓ dislike (0)   quote   flag      

G36 says
Dumb money (

Also known as the greater fool. How do you know it's not you?
1278   G36   ignore (7)   2021 Feb 25, 8:13am     ↓ dislike (0)   quote   flag      

if you pull a 3x in BTC and 10x in Cardano in just under 6month, you can call yourself smart money. (G36)

If you buy a matchbox car for 10grand and cant find a greater fool, you can call yourself dumb money. (you might know who I am referring to)

1279   Onvacation   ignore (5)   2021 Feb 25, 10:36am     ↓ dislike (0)   quote   flag      

G36 says
if you pull a 3x in BTC and 10x in Cardano in just under 6month, you can call yourself smart money. (G36)

SO,
You are smart money?
1280   Onvacation   ignore (5)   2021 Feb 25, 10:38am     ↓ dislike (0)   quote   flag      

You do know ya have to sell to profit, don'tcha?
1281   G36   ignore (7)   2021 Feb 25, 11:09am     ↓ dislike (0)   quote   flag      

Onvacation says
G36 says
if you pull a 3x in BTC and 10x in Cardano in just under 6month, you can call yourself smart money. (G36)

SO,
You are smart money?


absolutely. I even bought Bitcoin before Tesla :)
1282   Onvacation   ignore (5)   2021 Feb 25, 2:36pm     ↓ dislike (0)   quote   flag      

G36 says
I even bought Bitcoin before Tesla

Another great example. Though both are overpriced, Tesla is real. Crypto is bits on a stick that you must find a greater fool to buy. Whereas Tesla is an ongoing business with cars and things.

See the difference?

It's kinda like that overpriced hot wheel car you keep bringing up, it's real. Your bits on a stick, not so real.
1283   G36   ignore (7)   2021 Feb 25, 8:54pm     ↓ dislike (0)   quote   flag      

Onvacation says
G36 says
I even bought Bitcoin before Tesla

Another great example. .


I know! That's why I am smart money....and you are dumb money for paying 10grand for a matchbox car. You will never find a greater fool to pay you back what you invested. @onvacation
1285   G36   ignore (7)   2021 Feb 25, 9:35pm     ↓ dislike (0)   quote   flag      

I thought you were older.
1286   Onvacation   ignore (5)   2021 Feb 26, 6:08am     ↓ dislike (0)   quote   flag      

Buy the dip!
1287   G36   ignore (7)   2021 Feb 26, 6:33am     ↓ dislike (0)   quote   flag      

Onvacation says
Buy the dip!


Always!
1288   Onvacation   ignore (5)   2021 Feb 27, 9:24am     ↓ dislike (0)   quote   flag      

Is Bitcoin at risk of another drop below $40K in a historically corrective March?
https://cointelegraph.com/news/is-bitcoin-at-risk-of-another-drop-below-40k-in-a-historically-corrective-march

Bitcoin (BTC) has seen a corrective week as the price dropped from $58,000 to $44,000 in a matter of days. This dropdown caused a panic reaction across the markets as the euphoria was immediately halted.

For instance, the Crypto Fear and Greed Index plunged to monthly lows of 56 after being above 90, or "extreme greed" for an entire month.

However, such a panic reaction is unwarranted because corrections appear frequently in a bull market as a "reset" before continuation. This is organic and healthy and offers a good opportunity for traders and investors to buy the dip.

BUY THE DIP!
1289   Onvacation   ignore (5)   2021 Feb 27, 9:25am     ↓ dislike (0)   quote   flag      

It's amusing how these guys talk about support and resistance levels as if it were a stock or something real.


This now paints a clear picture of the critical levels to watch. Ideally, the support zone between $42,500-$44,000 has to hold for further upward momentum. If it fails, further weakness can be expected toward the $37,500-$39,000 level.

But if the $42,500-44,000 support zone holds, higher prices can be expected once Bitcoin breaks above the resistance between $50,000 and $51,000.
1290   Onvacation   ignore (5)   2021 Feb 27, 11:24am     ↓ dislike (0)   quote   flag      

Bitcoin is an extremely power hungry speculative investment dependent on the next greater fool (dumb money) in order for the last fool to profit. There is nothing there, no dividends, no capital (all consumed by miners), no store of value, nothing. Now if you have no scruples you can trade and make money but HODLing is unscrupulous and foolish.
1291   Onvacation   ignore (5)   2021 Mar 7, 12:28pm     ↓ dislike (0)   quote   flag      

Does anyone think all 2,200,000,000,000,000 Satoshi's could ever be sold for a profit?

Beware the scam!

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