patrick.net

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".

If you don't know who the fool is, it might be you.

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.

G36 says

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.

Did I tell you about my collection of subway tokens?

Sometimes I wonder why I accumulate so much crap.

G36 says

Even WookieMan shared his portfolio (100 shares of LUV)

The selective quoting thing though. Takes comments out of context and removes pertinent info. That was acquired to add to a position in my Vegas/funny money account. I have shares of about 7-10 individual stocks at any one time. All with money I'm willing to lose. Side hobby, something to do when I'm bored and have time. Usually don't look at it for months at a time unless I get a good tip or have a feeling something is gonna move. My real accounts between the wife and I have done very well. Should be retired by 48-50.

The beauty is I can go to sleep and not wake up to a financial scam that has lost 40-50%. BTC is an obvious scam and it's why no one can answer for it. Anyone can search the web and research it all they want. Any video just talks in circles and says blockchain. Blah.... blah..... blah blah blockchain.

Had a buddy build a mining rig, discovered on his own it's a scam. Fortunately just like with BTC, idiots will buy mining equipment thinking they'll get rich quick. So my buddy got out unscathed besides wasted time and a small loss. I told him it was and after he learned was at least man enough to admit it.

I personally won't touch it, but I've had exposure to it. Seen people burned. This rally is going to end very poorly. People are "investing" in this with credit card cash advances and margin. No one has cash to fuel what is happening. The uber rich are pumping to then quickly sell and burn all the people that invest $2k on a credit card.

I forget which user here has been posting about the increase in margin over the last couple months, but a good percentage is going into crypto. Maybe 10-20%. As Biden fucks this economy and there's a recession, many assets will get called to cover the loans or bill. BTC will take a bath as borrowers aren't going to want blue chip stocks sold to cover their crypto gamble.

G36 says

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.

No answers Onvacation? dont be embarrassed. How are you trying to find the next greater fool to sell your highly overpriced matchbox car?

G36 says

highly overpriced matchbox car?

Highly overpriced? You could by one for only a fraction of a bitcoin!

Of course you would have to sell your bitcoin for cash to buy it.

Have you ever bought anything with bitcoin?

Onvacation says

G36 says

highly overpriced matchbox car?

Highly overpriced? You could by one for only a fraction of a bitcoin!

you said this little toy cost you 10k and you are planning on selling it for several 100's of K. In my mind that must be the greatest fool alive that pays you more than 10k for it.
My question is, how are you planning on finding this greatest fool alive?

My god. Not sure this can get funnier.... I'm about to lose it.

WookieMan says

My god. Not sure this can get funnier.... I'm about to lose it.

ssshhhh.....dont discourage him. I think we are about to get an answer from him. He gets embarrassed quickly so lets keep it professional.

@onvacation, dont mind wookieman, just work on your response. take your time. we'll wait.

G36 says

@onvacation, dont mind wookieman, just work on your response. take your time. we'll wait.

You've responded to nothing in any of these threads. You're a spammer. Where did you last travel?

G36 says

Onvacation says

G36 says

highly overpriced matchbox car?

Highly overpriced? You could by one for only a fraction of a bitcoin!

you said this little toy cost you 10k and you are planning on selling it for several 100's of K. In my mind that must be the greatest fool alive that pays you more than 10k for it.
My question is, how are you planning on finding this greatest fool alive?

Take your time @onvacation. I am going to enjoy the sunrise with my doggy. walking the hills and enjoying the views. man, its shitty weather in IL....is this like a year round thing? sry Wookieman

G36 says

I am going to enjoy the sunrise with my doggy. walking the hills and enjoying the views. man, its shitty weather in IL....is this like a year round thing?

I'm just enjoying that someone looks up my weather every day. lol. I don't have to check it, you do that for me. And I love my weather. So does my dog. I already did all that stuff 4 hours ago, got some work done and am probably gonna chill for the day.

If you want to prove your prowess and not do stupid bets. I'm about to book a flight. I'll give you the details. We can meet up if you want. It will be in cold weather, Montana, but they have better ski resorts than CA. Either way though you should have no problem getting on the same flight with all the gains you've gotten. I'll post the details later this afternoon if I pull the trigger.

Or if you want, you can hop on my flight to FL for spring break. You want the info? That one is already booked. Maybe let's see if the tough talk is what it is. Maybe see what a real beach looks like.

WookieMan says

G36 says

I am going to enjoy the sunrise with my doggy. walking the hills and enjoying the views. man, its shitty weather in IL....is this like a year round thing?

enjoying that.

For sure! Love it and the doggy loves it too. Stay warm in IL!

So no answer? I'll give you the travel info. Anyone on this site can send someone to kill me or fuck with me. I don't give a flip. The offer is out there. Ultimately I know you can't get to Chicago or Bozeman. Or Pensacola. It's a good feeling knowing I'm right.

G36 says

G36 says

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.

No answers Onvacation? dont be embarrassed. How are you trying to find the next greater fool to sell your highly overpriced matchbox car?

@Onvacation,
wookieman and I are still waiting for an answer

G36 says

I are still waiting for an answer

Clearly you don't understand he gave you the answer.

WookieMan says

G36 says

I are still waiting for an answer

Clearly you don't understand he gave you the answer.

Really? How is he finding a buyer for the match box car? I am really interested. If people buy that stuff, I might look in the garage for it. I might find one that I would sell for 10k in a heartbeat. I missed his answer...where is it?

G36 says

you said this little toy cost you 10k

No, I said someone paid that for it.

Onvacation says

G36 says

you said this little toy cost you 10k

No, I said someone paid that for it.

He doesn't get it. You're trying to explain something to someone that has blinders on. I thought he'd learn, he won't.

Do you still think bitcoin will survive until 2030?

What will the last greatest fool pay for a Satoshi?

Onvacation says

G36 says

you said this little toy cost you 10k

No, I said someone paid that for it.

its your match box car, isnt?

G36 says

Onvacation says

G36 says

you said this little toy cost you 10k

No, I said someone paid that for it.

its your match box car, isnt?

Answer any question, ever.

1+1=X

What is X?

G36 says

isnt?

I meant, is not.

its not your match box car?? You said you have this match box car and you expect it to be worth 100's of k. Were you just making stuff up?

This sounds a lot like "i only invest in food and entertainment"
we just cant take anything seriously you say.

G36 says

we just cant take anything seriously you say.

Bitcoin is a scam that depends on the next biggest fool. All incoming money is consumed by the miners. It is not sustainable as it uses more energy than many small countries. There is no store of value.

Can you rebut any of the above?

Not expecting cogent answers.

i am confused about your match box story. You dont own it or you own it? If you own it, what did you pay for it? Does that also mean you dont own the lego ship?

G36 says

i am confused about your match box story. You dont own it or you own it? If you own it, what did you pay for it? Does that also mean you dont own the lego ship?

No. I don't collect rare toys.

I was just making the point that people will pay a ridiculous amount of money for something that is rare in the hope that someday someone will pay them a bunch of money.

Why did you buy those bits on your flash drive?

And thanks for implicitly admitting that you expect a greater fool, "dumb money", to be a bigger fool than the guy who bought the bits you own.

At this stage, most smart and clueless are in the game.

Blue says

At this stage, most smart and clueless are in the game.

Are those people that buy Satoshi's at the liquor store kiosk "smart" or "clueless"?

@onvacation
I see. So in summary: first it was "you are on vacation and dont invest". Then it was you only invest in food and entertainment. Then it was mutual funds. then it was silver coins, then it was match box cars and legos but now its back to just silver coins. Bummer. I thought if you could find a greater fool who buys the match box car for 10 grand I might get motivated and look in my garage for an old match box car.

None of this seems to relate to Bitcoin though. Bitcoin is bought by Tesla, Paypal, etc. since its digital gold.
Yes, Tesla paid about double of what I paid for Bitcoin but that doesnt mean they are fools. They built a great company! I think they are smart as @Blue just said.

At this stage, it looks like only 'smart' and clueless category are in the crypto game.

And what is the end game?

They call it "currency" but it's not.

They call it "digital gold" but it stores no value.

The pumpers say it is a store of value and get in now, "or be priced out forever".

And it uses more electricity than Ireland.

At this stage its mainly smart money and institutional money and some retail. More retail will follow and more institutional money. Later on, Onvacation and WookieMan will buy towards the end. At least thats my prediction.

Onvacation says

And what is the end game?



They call it "digital gold"

Yeah, well, Bitcoin as digital gold / store of value helps people understand what Bitcoin is. But its of course much better than gold. So, in reality gold is wanna-be Bitcoin. But store of value/digital gold works pretty good as a description.

Why would Big Tech invest in Bitcoin infrastructure or hold it on their balance sheet? Because they are smarter than those that doubt Bitcoin. They get in early before it moons and becomes mainstream.

G36 says

Bitcoin as digital gold / store of value helps people understand what Bitcoin is.

One huge difference between gold and bitcoin is that with gold once you have mined and refined it you have a shiny lump of metal that can be used over and over again for many different purposes. Whereas if you stopped "mining" bitcoin, "POOF" all your "coins" are gone.

It's pretty obvious all of the marketing words: "coin", "wallet", "mine", "currency", "gold 2.0", "store of value", were designed to fool the gullible.