patrick.net

It's a solution looking for a problem, to unstable to be a currency replacement. Maybe some of the large banks and companies are getting into it to have something to blame for next crash or milk all the little fish.

RC2006 says

Maybe some of the large banks and companies are getting into it to have something to blame for next crash or milk all the little fish.

Or moving cash?

Patrick says

Onvacation does have a boat, and it's a nice one. I've been on it. He invited me.

That's awesome. I watch anything sailing. Same with flying. Close to pulling the trigger on getting my pilots license. We'll see. I now have a plane I can use, so that's motivating (friends).

Haven't actually sailed on a private mono or cat, but I think we're close. Might pull the trigger and charter a cat in the Caribbean for my wife's 40th with some friends 2022. Covid better fucking be done by then. The BVI's are beautiful (so are USVI) but in a week you can see them all. I'd love to bareboat down there, but my wife wouldn't be on board to learn and I still need to learn to sail as well. Maybe a birthday gift for her, but really for me ;).

I've been extremely skeptical of crypto from the beginning, but that being said, I firmly believe we have an inflationary nightmare on our hands. I've believed this since 2006 and stacked gold/silver from 2006 to 2010. With the money supply exploding and us normalizing mailing out free money to everyone, I think we are rounding the corner of the endgame for the dollar here.

I've constructed a portfolio of metals, dividend stocks, and foreign dividend stocks (Singapore & Taiwan) expecting this for the better part of 10 years. Basically, the reason bitcoin is at 45k IMO is because the central banks are so irresponsible. From what I see, adoption of crypto keeps increasing and has yet to even become mainstream. It's still considered fringe. 20k was viewed as ridiculous 3 years ago, now we've doubled that. I understand it's volatile, but I don't think it would be the end of the world if I make it 2 to 5% of my portfolio at this point. For the past two months, I've been slowly buying at avoid buying too much at potentially elevated prices. Basically, $250 a week. I figure I'll stop if I achieve that 5% of my net worth in it.

Basically, what sealed the deal on this decision was Joe Biden getting into office. I don't even think people are going to be regularly using blockchain to do transactions. I think all these companies like Paypal, Mastercard, and what not will take them off the market, stor ethem, and use their own existing infrastructure to do transactions.

WookieMan says

Close to pulling the trigger on getting my pilots license. We'll see.

I was looking into flight school a couple decades ago. I wanted a small plane. After crashing a few RC planes from unexpected gusts and crosswinds I decided to stick with the big commercial jets.

theoakman says

I firmly believe we have an inflationary nightmare on our hands.

The problem of trying to store your fiat money in bitcoin is that bitcoin is valued in fiat money.

That and the "miners" will use your money to buy hookers and blow.

Onvacation says

theoakman says

I firmly believe we have an inflationary nightmare on our hands.

The problem of trying to store your fiat money in bitcoin is that bitcoin is valued in fiat money.

Yup. You buy it with fiat and to use it you get fiat back. It's silly. I don't do metals, but at least you can always hand someone a physical piece of gold or silver that could be used in something productive. Crypto ain't that. Never will be that either. It's a spreadsheet. Everyone has Excel or a similar program. Companies like google give the program away for free. Crypto itself is literally worthless.

Maybe not the tech #blockchain. But that means nothing about the value of BTC or any other coin. It's a marketing scam/scheme to part you from your money. As always, you can trade it, but there's no "store of value" that keeps being tossed around. It is actually, figuratively and literally worthless. I guess the Chinese flash drive might be worth $19.99... That's about all it's worth.

WookieMan says

Onvacation says

theoakman says

I firmly believe we have an inflationary nightmare on our hands.

store of value

Yep, Bitcoin is digital gold / store of value. Experts also say, best thing since sliced bread.

G36 says

Expert

Back when I used to work on nuclear subs at the shipyard in the watertight doors and hatches shop one of the old journeymen defined expert as, "An Ex is a has been and a spert is a drip under pressure".

Modern definition of an expert is someone you can find to say whatever you want them to.

Onvacation says

G36 says

Expert

Back when I used to work on lego subs

Was it Lego or was it wood? you keep changing your mind on things (have matchbox car, then you dont).
Just want to make sure

G36 says

Was it Lego or was it wood?

I actually got to work with some very exotic alloys. My nickname at the yard was impact, and not because I made a difference.

For future reference, it's considered rude to quote someone and then edit what they say.

G36 says

you keep changing your mind on things

If you read all my posts, which you claim is too much reading, you would know that I have consistently said, "bitcoin is a scam".

Onvacation says

For future reference, it's considered rude to quote someone and then edit what they say.

Bingo. Someone can try to trash me all they want here. Just be honest at least. It devalues and even negates anything you've said previous in my book changing/editing a quote.

Usually if someone doesn't like or agree with what is said, they bring evidence to show the other person is wrong or incorrect. That hasn't happened in one of these recent crypto threads. It's just links to fly by night crypto sites run by unemployed 20-30 somethings thinking they'll get rich or a few geezers that failed at life. Tell me I'm wrong crypto boi's.

Onvacation says

G36 says

"bitcoin is a scam".

So was online shopping

WookieMan says

It devalues and even negates anything you've said previous in my book changing/editing a quote.

Altering evidence is exactly what the Democrats just did in the mock trial of Trump. They changed a Tweet date by a YEAR to make it look connected to the Capitol riot, added a blue check by a Tweet when it wasn't really there, and apparently some other lies:

https://patrick.net/post/1338127/2021-02-14-trump-s-lawyer-destroys-media-spin-and-lies-on-camera

porkchopexpress says

Onvacation says

G36 says

"bitcoin is a scam".

So was online shopping

What was the name of that website to buy groceries?

History has been made

https://www.reuters.com/article/crypto-currency-etf/canadian-regulator-clears-launch-of-worlds-first-bitcoin-etf-investment-manager-idUSL1N2KI1FX

Canadian regulator clears launch of world's first bitcoin ETF - investment manager

What an excellent time to be alive! Epic Super Cycle for Bitcoin (Digital Gold)

G36 says

What an excellent time to be alive!

Interesting, yes.
Excellent? Really? Lockdowns, mask laws, suspension of the first amendment, election stolen by CCP connected socialists, and you think times are excellent?

G36 says

(Digital Gold)

Ya made $50,000 gambling IF you cash in the chips right now. I could put $30,000 on a blackjack hand and double my money in a couple minutes.

HODL on dude. Maybe some dumb money will come along and finally offer you enough fiat to make you want to sell your "Gold 2.0".

Thats correct @Onvacation.

Even banks are entering the Bitcoin spaceship since they understand its digital gold.

https://www.nbc29.com/2021/02/15/virginia-based-bank-offering-bitcoin-transactions/

Virginia-based bank offering Bitcoin transactions

MAJOR BITCON MILESTONE REACHED

2.5 times of prior all time high = 50k!
First time in History, Digital gold breaks 50k!

Its only 50% off our target of a six figure Bitcoin which is likely on the cards for this cycle.

https://www.wsj.com/articles/bitcoin-trades-above-50-000-for-first-time-11613479752

G36 says

Its only 50% off

It will lose the other half, don't worry.

hahahahahahahahahhahahahahahahaha you wish :) you sooooooooooooooo wish :)

THis is fun! F.ing little Bitcoin haters get slapped left and right - daily.

Thank you Tesla! Thank you Satoshi N.!

So why is one bitcoin worth $50k?

Not expecting a cogent answer.

Or any answers.

Onvacation says

So why is one bitcoin worth $50k?

Its highly undervalued! Its worth at least 300k.

You like to invest in legos and matchox cars but there is no demand by Tesla to put legos on their Balance Sheet. They want Bitcoin. Just like everyone else.

Sry you missed the boat but I could have told you that when you said you still use a landline.

excuse me....you didnt miss the boat....you missed the spaceship :)

G36 says

excuse me....you didnt miss the boat....you missed the spaceship :)

He actually didn't miss the boat... he just has a boat.

You've said yourself you haven't sold. You have unrealized gain on paper. Sell them and you can start to brag, otherwise you sound extremely foolish bragging about an unrealized gain and unrealistic values. You have gained $0 USD at this point in time per your own comments.

Another cold day in IL, Sry Bro

No Bitcoin, shitty weather....life must suck for ya?

Beautiful weather here....taking the doggy for a walk :)

Stay warm and dry, Bro

G36 says

No Bitcoin, shitty weather....life must suck for ya?

Quite the opposite. Two happy and healthy kids. A hot and happy wife. Leaving for Phoenix Tuesday to golf with some buddies for 4 days. I can give you the hotel info and dates if you want for 2 of the nights. Got some new business over the last week on top of an already good winter season. Spring break in FL. USVI almost booked for October. Thinking about Tahoe with the family this summer, but can't trust CA deadbeat politicians to have the state open. So we might do the Carolinas. Huge camping trip with neighbors this summer up in WI.

Working on a surprise trip for my wife in 2022. Costs more than your supposed BTC investment per week to rent and/or charter. In a way, way better place than CA. But hey, enjoy doing the task women usually do, walking the dog. Have to say, my kids do love riding their bikes in the snow too. Honest question given you're from CA, are you gay?

G36 says

They want Bitcoin.

Why? Beside FOMO.

Onvacation says

G36 says

They want Bitcoin.

Why?

Tesla, Paypal, Square.....they all know Bitcoin is digital gold!

WookieMan says

G36 says

No Bitcoin, shitty weather....life must suck for ya?

"Yes"

Sorry, Man, hey, you can always save money and move to CA at some point!
Stay warm and dry Bro...beautiful sunshine here

WookieMan says

Honest question given you're from CA, are you gay?

G36 says

"Yes"

that was wrong

not that there is anything wrong with that

Usually, when the Bitcoin haters have nothing left (and Bitcoin reaches new all time highs) their comments get personal :)

Right? @Onvacation
@WookieMan

sry guys, I know the weather is bad in IL and you missed the spaceship.

G36 says

their comments get personal :)

Nothing personal about selective quoting.

You never did apologize for changing my quote.

G36 says

Usually, when the Bitcoin haters have nothing left (and Bitcoin reaches new all time highs) their comments get personal :)

Mark my comment personal if it is. I simply asked a question based on a state having cities with large populations of gays. No different than asking if the south side of Chicago has a bunch of blacks. It's a question. Didn't know you were so PC.

I'll have to assume at this point though because you haven't answered. As usual.

Agreed, usually when the haters cant take the celebration of Bitcoin's success anymore they get personal.

Sad but on the other hand, without @WookieMan, I would not appreciate living in Socal as much. I'd take the beautiful beaches and daily sunshine for granted.

I cant imagine not having Bitcoin and Bitcoin hitting 50k. And he lives in IL!! poor dude.

We are all here to celebrate 50K Bitcoin! Congrats to all Crypto investors/Hodl'ers!

https://www.chicagotribune.com/business/ct-biz-bitcoin-50k-cryptocurrency-20210216-k3743ddl2nd3reergkm7syc4je-story.html