patrick.net

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.

G36 says

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

No it doesn't. Seriously? Do you really think TSLA is holding any BTC right now? Making $40k in 3 months is one thing. That's what the average wealthy person does in a month. Go get a side gig I guess if you need it.

$300M in 3 days on a $1.5B pump and getting out quickly is another thing. Musk just printed more money than your entire extended family will make for 10 generations. Keep dreaming though. You don't get the game. You don't even fill the water bottles the players drink out of. You're the toll booth attendant on the way to the game.

Do something. Stop chasing and trying to hang onto coattails. Crypto is, has and will be your demise. Mark my words. You've been conned when a billionaire fucks around with $1.5B of OPM and you think that's a good thing.

WookieMan says

G36 says

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

Do you really think TSLA is holding any BTC right now?

@WookieMan,
Huh? of course Tesla is buying Bitcoin to hold. HODL I should say.

G36 says

Huh? of course Tesla is buying Bitcoin to hold. HODL I should say.

TSLA sold. You didn't hear?

Good day at work? Must be nice to be home, petting the dog and looking at your bike ;)

WookieMan says

G36 says

Huh? of course Tesla is buying Bitcoin to hold. HODL I should say.

You didn't hear?

Tell us more about those imaginary voices. :)

Had a nice day today.....did 15miles climbing (mountain biking) and walked the doggy at nightfall. I am tired :) So grateful to live in Socal.
Stay warm Bro!

G36 says

did 15miles climbing (mountain biking) and walked the doggy at nightfall. I am tired

15 miles?? On a bike? Wowzer. And you're tired too? Ok. Call me unimpressed... because, well, it's not impressive at all.

I like how you keep the theme going though. Mundane investments, activities, etc. Good for you if it makes you happy.

G36 says

WookieMan says

G36 says

Huh? of course Tesla is buying Bitcoin to hold. HODL I should say.

You didn't hear?

Tell us more about those imaginary voices. :)

Had a nice day today.....did 15miles climbing (mountain biking) and walked the doggy at nightfall. I am tired :) So grateful to live in Socal.
Stay warm Bro!

Yeah, love the intense rides up the hills. Get your heart rate up and practice for the long rides on the weekends.
Hope you stay warm Bro

G36 says

Hope you stay warm Bro

I'm not gay. But I know it's prevalent in CA, so I won't judge too much. I'm accepting of what you're going through.

G36 says

Yeah, love the intense rides up the hills. Get your heart rate up and practice for the long rides on the weekends.

Great?? Congrats on getting the heart rate up?.... I ran a hidden survey here and nobody else on patnet gets their heart rate up at all. All day. Where can I mail the trophy for bike riding? I can overnight it. I have a heart plaque too you can mount. Heck, I'll package my dog and you can then walk my dog. Maybe you are useful?

seems a little chilly in IL these days. Cant imagine not getting outside daily and riding MTB with the boys. When does the snow melt/is it shitty weather all year round in IL?
Sry bro, stay warm and dry!

G36 says

When does the snow melt/is it shitty weather all year round in IL?

You should travel more. Illinois has some beautiful weather. Summer in Chicago is like a big outdoor party.

San Diego is beautiful. Spent a couple of days on Ocean Beach for X-mas. Beautiful Sunsets almost every night. Nice place to visit.

I know you like bicycling with your boys in SoCal but there is a whole world of culture, climate, and history out there. It's worth seeing.

Onvacation says

G36 says

When does the snow melt/is it shitty weather all year round in IL?

San Diego is beautiful. It's worth seeing.

Yep :) Socal is beautiful. The place to be...I'll never leave other than the vacations. I want to retire here.
Sorry, it so shitty in IL all year round. I dont know how you do it. Sry Bro. Stay warm/dry.

lol, i just noticed this wasnt from Wookie Rofl. I barely read his posts in detail (usually i just pick 1-2 words to quote) and just assumed he responded as he always does when it comes to weather or Bitcoin. Thats pretty funny. The best thing about it, it doesnt even matter that i assumed it was him but it was OV. The response still works. haha

G36 says

Cant imagine not getting outside daily and riding MTB with the boys.

You don't mountain bike in the snow? Snowboarding is about my only dangerous sport. Rode the bikes when I was a young lad. Not worth it, especially after breaking my heel late last year.

I'm entering the risk/reward years and have no interest in being immobile again. A friend of ours was just in the ICU for a week mountain biking in Wisconsin. He's 42. Couldn't wipe his own ass.

Onvacation is right though. People bitch about the humidity, but the lakefront is amazing in Chicago. I know he boats, not sure if he's done it on the Great Lakes, but supposedly it's amazing.

Socal for sure has its positives. You just have to deal with the people, traffic, fires, water shortages and politicians. Well water shortages have been better if I'm being honest.

I like the Caribbean though. Blows away Socal and IL. Just don't want to live there. Hurricanes are a thing down there I guess. I'll just enjoy visiting for now. Might purchase a place, but we'll see. No rush.

G36 says

Socal is beautiful.

I said San Diego, specifically the beach, Mission Bay, Balboa Park. The rest of SoCal kind of sucks.

Back in the mid-nineties I did some contract tech support for a construction company's different sites. Mostly printer, plotter, and modem problems along with the pebkac and id10t issues.

The company was transitioning into in-house support and I was based at the La Jolla Embassy Suites and covered all the fires in my huge territory of everything between San Diego, Los Angeles, and Phoenix. One time it took me 4 hours to drive from La Jolla to El Segundo. FUCK those "free" ways.

I got to see a lot of SoCal and the only redeeming quality of the whole area is San Diego, and even then I would want to get away from the awesome beaches, year round good weather, and laid back atmosphere.

Speaking of which I need a life. Going to go check on the yacht.

Onvacation says

Balboa Park.

Sucks. Had or has potential. We spent a morning thru early afternoon there before a flight out. We were unloading our leftovers and booze (can't take it with) to bums. Weren't aggressive or anything. Was just awkward for our kids to see. We've encountered it in other places, it's just everywhere in CA. Can't really avoid it.

We got lucky with traffic on that trip. I know it's a nightmare though. And the roads suck dick too. This is in my wheelhouse too. They're awful. I haven't seen highways in worse condition. Considering no freeze/thaw cycle, it's frankly embarrassing.

Onvacation says

Speaking of which I need a life. Going to go check on the yacht.

And that's what life is about. Enjoying it. Could mean work, could mean relaxing or anything. My uncle is 66 and could piss on anyone on this site (including me) financially. He loves wrenching on muscle cars even though he could pay someone to do it for him. Passion for something shouldn't be monetary. You should enjoy it and not care. Want a boat bad, but not really worth it where I'm at currently.

Onvacation says

G36 says

Socal is beautiful.

rest of SoCal

I wont mention all the nice places in Socal....first of all dox dox dox and most importantly....maybe more and more people will show up at these places.

I dont want more crowds. I love when people think the way you do. And what I love even more is when jealous people try to tell me its not the place to be. Lol

sry about the shitty weather in IL all year round. Stay warm/dry

G36 says

I dont want more crowds.

Official. You don't live in Socal. 100%. Given the landscape you're kind of out of room. It's not some secret area. I've been inland to Escondido and seen $600k homes that are the size of my shed. There's no land. The crowds already exist. More crowds isn't a worry at this point, it's reality.

G36 says

about the shitty weather in IL all year round.

I do just fine. Weather here doesn't bother me. Not sure how many times I can say it and you keep bringing up the weather and I don't. Clearly there might be some jealously in that I don't overpay for my housing. 8 hours a day are spent sleeping (4 for me). 8 spent working (2 for me). You have 2-4 hours of commuting and making dinner or eating out at minimum. If you have kids, the rest is gone. Have fun enjoying overpriced housing (rent or own) and 13% income tax if you can make enough. You can't sell me on Socal. I've been and I've researched it thoroughly. It's an awful place to live financially.

Sometimes you just have to see ones misery in order to be more grateful for what you have!

I realize now that some parts of the country have shitty weather all year round. Gosh, I would pay double to stay in sunny California (socal).
I cant imagine missing out on outdoor activities because the weather in places like IL sucks so much.

I am really sorry for Wookie who has to experience this. It makes sense that people in places with shitty weather are depressed and angry.

Going out with the doggy now :) beautiful weather here in SoCal. Stay warm bro

G36 says

Gosh, I would pay double to stay in sunny California (socal).

No you wouldn't and don't. Not a chance you're in Socal for less than 3-4x's what I pay PITI. For the same house I own it's probably 5x. Appreciation comes at the expense of cash flow. So that negates that argument. Plus there's potential cap gains when (well if, you don't own) you sell at the end, above $250k because we know you're not married.

I will pay less and walk with more living in IL. I'm a numbers guy. I've done the math. I assume you still didn't get my joke, right? Enjoy dodging human shit and needles as you walk your doggy....lol.

Beautiful weather in SoCal, Cant get enough of it....

Feel so sorry for people in IL that have to live in misery.

And Bitcoin at 48k! I cant take all this winning! :) Looking forward to a looong bike ride tomorrow.

They call it a sunshine tax here. I would pay more to have this beautiful weather! Knowing Wookie's story made me more grateful for where i live.
Thanks Bro and stay warm!

G36 says

They call it a sunshine tax here. I would pay more to have this beautiful weather!

Worst ROI ever. Hence why everyone should ignore what you say.

WookieMan says

G36 says

They call it a sunshine tax here. I would pay more to have this beautiful weather!

Best
ROI ever.

Agreed, I'd pay triple to keep living here.
And 10x more to not live in IL.
Sry bro, stay warm

Onvacation says

Speaking of which I need a life. Going to go check on the yacht.

Ask your butler to do it