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Bitcoin Misinformation


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2020 Nov 10, 10:01am   133,689 views  2,169 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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1028   Bitcoin   2021 Feb 10, 11:17am  

WookieMan says
mom and dad. Thanks.

Yep, they live in Socal too. Not too far away. It's nice to have family close by. They all love it here in Socal.
1029   WookieMan   2021 Feb 10, 11:24am  

G36 says
WookieMan says
mom and dad. Thanks.

Yep, they live in Socal too. Not too far away. It's nice to have family close by. They all love it here in Socal.

They live in the same house. Everyone here knows it. You need help. Lying about it won't solve your insufficiencies. Throwing money at fake money won't either. You'll learn.
1030   Bitcoin   2021 Feb 10, 11:26am  

WookieMan says
G36 says
WookieMan says
mom and dad. Thanks.

Yep, they live in Socal too. Not too far away. It's nice to have family close by. They all love it here in Socal.

Everyone here knows it.


Yep, cousins, mom, dad, aunts, uncles....pretty much everyone lives in Socal :)
1031   WookieMan   2021 Feb 10, 11:41am  

G36 says
Yep, cousins, mom, dad, aunts, uncles....

Ahhhh. Got it. You live with Grandma. That clears things up even more. Thanks for the update.
1032   Bitcoin   2021 Feb 10, 11:43am  

WookieMan says
G36 says
Yep, cousins, mom, dad, aunts, uncles....

Ahhhh. Got it. Thanks for the update.


No problem!
We are blessed to live all in Socal. Not too far from each other. Makes it easy to get together and enjoy parties in the BY. I imagine thats not something you can do in IL. Is it shitty weather pretty much all year round in IL? Stay warm Bro!
1033   Bitcoin   2021 Feb 10, 11:44am  

WookieMan says
G36 says
Yep, cousins, mom, dad, aunts, uncles....

Grandma.


Totally forgot Grandma!! Lol...Grandpa and Grandma live in SoCal too :)
1034   WookieMan   2021 Feb 10, 11:45am  

So you do live in grandma's basement! You didn't even deny it.
1035   Bitcoin   2021 Feb 10, 11:48am  

WookieMan says
So you do live in Socal


Yep, pretty much all my family lives in Socal.

It would suck if we would have to travel to IL to visit family. Its nice to have them all close by. We all like/enjoy the nice weather here. I cant imagine having shitty weather daily.

So sorry Sissy
1036   WookieMan   2021 Feb 10, 11:55am  

G36 says
WookieMan says
So you do live in Socal


Yep, pretty much all my family lives in Socal.

It would suck if we would have to travel to IL to visit family. Its nice to have them all close by. We all like/enjoy the nice weather here. I cant imagine having shitty weather daily.

So sorry Sissy

Abusing the quote feature when losing. That's classy. I guess that's what Socal losers do. Keep losing😂😂😂😂😂
1037   Bitcoin   2021 Feb 10, 11:58am  

WookieMan says
G36 says
WookieMan says
So you do live in Socal


Yep, pretty much all my family lives in Socal.

It would suck if we would have to travel to IL to visit family. Its nice to have them all close by. We all like/enjoy the nice weather here. I cant imagine having shitty weather daily.

So sorry Sissy

That's classy.


Yep, I am genuinely sorry! I am used to seeing sunshine daily and being outside daily. I feel really sorry.....If it werent for you, I wouldnt think of people who experience shitty weather daily. So, in a way. I am more grateful now! thank you and I am sorry. Stay warm Bro!
1038   WookieMan   2021 Feb 10, 12:03pm  

G36 says
I am used to seeing sunshine daily and being outside daily.

So am I. Your point is thudding pretty hard at this point. You look dumb. I like my weather. I'm not a pussy that needs brown dirt, shrubs, shit and needles 365. Count me out. I'll take my 60% returns as well by not living there.

Dude, you're literally bragging about a hell hole. I don't dig 3rd world country living conditions.
1039   Bitcoin   2021 Feb 10, 12:05pm  

WookieMan says
G36 says
I am used to seeing sunshine daily and being outside daily.



Dude, you're literally bragging


yep :) I do love it here and not afraid to brag about Socal! Its the place to be. Sorry and stay warm Bro
1040   Bitcoin   2021 Feb 10, 12:06pm  

taking the doggy out! Beautiful outside! Stay warm and we'll talk later!
1041   Onvacation   2021 Feb 10, 12:24pm  

Back to the topic.

Bitcoin is a speculative investment that consumes huge amounts of resources and DEPENDS on the next investor in order for the previous investor to get their money out.
1042   Bitcoin   2021 Feb 10, 1:13pm  

Onvacation says
Back to the topic.

Bitcoin is a speculative investment that consumes huge amounts of resources and DEPENDS on the next investor in order for the previous investor to get their money out.


How is that different from your investments in Legos and Matchbox car's? You overpaid for these collectables and depend on someone else to pay you the same overpriced amount that you paid?

Ever wondered why Tesla is not buying legos and matchbox cars? Tesla is buying Bitcoin because Elon is smart.
1043   Onvacation   2021 Feb 10, 1:16pm  

G36 says

How is that different from your investments in Legos and Matchbox car's?

I don't invest in collectibles.
1044   Onvacation   2021 Feb 10, 1:17pm  

Or lotto tickets.
1045   Bitcoin   2021 Feb 10, 1:20pm  

Onvacation says
G36 says

How is that different from your investments in Legos and Matchbox car's?

I don't invest in collectibles.


You paid 10K for a toy car and you bought legos and think someone else will pay you the same overpriced price on it.
1047   Bitcoin   2021 Feb 10, 1:22pm  

I dont expect someone who paid 10K for a matchbox car to buy Bitcoin. I would expect that person to also buy legos. But you depend on the next greater fool to pay you what you paid....good luck my friend!
1048   WookieMan   2021 Feb 10, 1:22pm  

G36 says
taking the doggy out! Beautiful outside! Stay warm and we'll talk later!

Ouch, don't talk about your grandma that way. Not very nice. She might kick you out.
1049   Bitcoin   2021 Feb 10, 1:26pm  

@onvacation, do you remember the guy who sold you the matchbox car?

It sounds like a talented sales person :)
1050   Bitcoin   2021 Feb 10, 1:27pm  

WookieMan says
G36 says
taking the doggy out! Beautiful outside! Stay warm and we'll talk later!

very nice.


My doggy and I love our daily walks! beautiful out there! T-shirt weather! beautiful views....not even clouds but a pleasant wind.

Sorry bud....stay warm!
1051   WookieMan   2021 Feb 10, 1:32pm  

G36 says
T-shirt weather!

Same here, wearing a t-shirt now. Don't need to overpay 60%. Not a pussy. Maybe mom can bring a blanket down for you, or some meatloaf.

Love owning a home that cost me 1/10th of what a house out in CA cost. I can invest in my business and make massive gains instead of paying for mom's income taxes and fake currency. Pretty fulfilling living on your own. You'll learn.
1052   Bitcoin   2021 Feb 10, 1:36pm  

WookieMan says
G36 says
T-shirt weather!

a house out in CA cost.


agreed. A nice house here costs as much as 10 houses in IL. But who wants to be in cold, shitty weather all the time?
I would have paid more to have a nice house in Socal. Think about it....if it were cheaper here people like you could move here....no thanks :)
1053   Bitcoin   2021 Feb 10, 1:38pm  

also...if sissy could afford to move here to Socal....I would not be able to make fun of her in regards to the shitty IL weather. I rather have Sissy stay put :)
1054   WookieMan   2021 Feb 10, 1:46pm  

G36 says
Think about it....if it were cheaper here people like you could move here.

Sorry, don't need mom and dad to wipe my ass. You do. Enjoy. You'll learn.
1055   Bitcoin   2021 Feb 10, 1:48pm  

WookieMan says
G36 says
Think about it....if it were cheaper here people like you could move here.

Enjoy.


Thanks! Love every day here in Socal....going mountain biking later this afternoon :) stay warm bro!
1056   Onvacation   2021 Feb 10, 2:25pm  

Onvacation says

You paid 10K for a toy car and you bought legos and think someone else will pay you the same overpriced price on it.

Somebody did, not me.

But you say you spent almost $30k for some bits on a flash drive going to the moon.

Reminds me of this story about this guy named Jack. He bought these beans...
1057   Onvacation   2021 Feb 10, 2:27pm  

G36 says
overpriced price

At what price will crypto be overpriced?
1058   Onvacation   2021 Feb 10, 2:28pm  

G36 says
depend on the next greater fool to pay you what you paid.

Ponzi game by definition!
1059   Onvacation   2021 Feb 10, 2:28pm  

Get it yet?
1060   Onvacation   2021 Feb 10, 2:28pm  

Not expecting a cogent answer.
1061   Bitcoin   2021 Feb 10, 3:27pm  

How did the seller convince you to pay 10grand for this toy? Gosh, i might be able to find one in the garage. Do you want another one for 10k?

More importantly, how are you planning on finding the next greater fool to buy this toy from you for the same price??

1062   Bitcoin   2021 Feb 10, 4:03pm  

And how much did you pay for the Lego toy? also 10grand? its nice....dont get me wrong....but 10grand for legos???
1063   Onvacation   2021 Feb 10, 4:17pm  

Ya know, fools and their money.
1064   WookieMan   2021 Feb 10, 4:29pm  

Onvacation says
Ya know, fools and their money.

Convinced he's foreign at this point. Crap grammar and english. Jokes and puns fly way over his head. Thinks sissy is an insult to a grown man. Can't describe BTC or crypto. Lives in Socal and hasn't even been to Vegas or Phoenix or anywhere within driving range.

It's spam. He's not invested in crypto and doesn't know what it even is. You can tell the morons with the selective quoting. He might take the cake on that. Even cash has stopped coming to his defense. Or anyone for that matter. They know it's shit too.
1065   Onvacation   2021 Feb 10, 5:10pm  

Many people don't understand bitcoin.

I started this thread to stop the misinformation.

Even G admits that one day he will sell to a greater fool, "dumb money".
1066   Onvacation   2021 Feb 10, 5:10pm  

If you don't know who the fool is, it might be you.
1067   Bitcoin   2021 Feb 10, 8:41pm  

G36 says
How did the seller convince you to pay 10grand for this toy? Gosh, i might be able to find one in the garage. Do you want another one for 10k?

More importantly, how are you planning on finding the next greater fool to buy this toy from you for the same price??



No answers? @Onvacation. sometimes I think you are embarrassed. Don't be. I wont make fun of you. Just share. Even WookieMan shared his portfolio (100 shares of LUV) and you know mine....Bitcoin and a ton of other top 15 marketcap coins.

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