patrick.net

I don't want to get into the bitcoin spat (my jam is mostly biotech stocks and I can't complain), I think it is based on legit technology here to stay, but not without problems (energy one of them, viruses/bots using blockchain for malicious reasons which makes them close to impossible to block from replicating another one), possibly overvalued but certainly not worthless. The point I'd like to make is about the trade. I certainly would have enjoyed the foresight to put 10k into bitcoin at 3k, 5k or 10k and making a 5-15 x multibagger. People can always the say this asset is not legit, immoral, too volatile etc. etc. but if you're at the right side of the trade at the end of the day that should count for something. Same goes for RE. I've been thinking forever it was overvalued in CA (and still think so for many areas), but with the exception of 2008-2013 it has gone nothing but up and I'm happy for the Emans, pkennedys, bayareas and others if they made a good choice wrt their RE investment(s), be it short or long term. If you invested in TSLA at $200 you made the right choice, good for you, even if I think it's overvalued at $700 or even $500 - it doesn't change that fact that the trade was a good one. It may be promotion/pumping but as long as it doesn't take over the site I'm fine with it. Do I think the risk/reward is great at 60k? Certainly not. Was it great at 3k or 5k?Absolutely!

personal

mell says

I certainly would have enjoyed the foresight to put 10k into bitcoin at 3k, 5k or 10k and making a 5-15 x multibagger.

Yes, I've always agreed with this. I made one bad prediction and I'm a shit mutt and have BTC derangement syndrome. But I'm the one being personal and trolling.

mell says

Same goes for RE. I've been thinking forever it was overvalued in CA (and still think so for many areas), but with the exception of 2008-2013 it has gone nothing but up and I'm happy for the Emans, pkennedys, bayareas and others if they made a good choice wrt an investment, be it short or long term.

Yes, there's a physical asset backing it either with a structure or the land itself. CA has temperate climate and is near scenery. Those things have value too. Crypto doesn't beside people just wanting to buy it.

mell says

If you invested in TSLA at $200 you made the right choice, good for you, even if I think it's overvalued at $700 or even $500 - it doesn't change that fact that the trade was a good one.

Again, they have physical assets and IP. They own land and have large warehouses/factories. If they fall on hard times it's almost certain another automaker would buy all that stuff.

mell says

It may be promotion/pumping but as long as it doesn't take over the site I'm fine with it. Do I think the risk/reward is great at 60k? Certainly not. Was it great at 3k or 5k?Absolutely!

Agreed again. It's a trade. Make money while you can and I've never changed my opinion, and said make money while you can. So I don't get all the butthurt over my comments.

There's a huge difference between trading and investing. You literally cannot "invest" in BTC because it is nothing. It's numbers. Just because a billionaire pumps it doesn't mean he believes in it. No one can argue that. He has the cash to move a market and knows he can get someone else's money. If someone can make money along the way go for it as I've always said.

But people saying you should hold are full of it. 100%. That's why they don't have a response to a comment like this and just post shit. And cash, I don't know what your issue is, I've always said trade it and I've said you seem to have solid knowledge of what you're doing. G consistently posts pumping spam. This is indisputable.

We don't have to agree, but BTC will go away. No one in any of these threads has proved otherwise. I don't know the timeline, but the game ends at some point. I can make consistent and solid returns doing other things. BTC went sideways for 3 years, while I was earning dividends and appreciation. One off bubbles does not lead to being rich on an asset less "currency" and there's no disputing this.

Cash says

@patrick How about putting some control on your trolling moderator!!!

great idea! And glad to see a post from @Cash
Miss your analytics!

mell says

I think it is based on legit technology here to stay,

thanks for the comments @mell

What biotech stocks do you prefer? I got some bio/Life sciences/pharma in my 401k but outside of retirement funds I hold Thermo Fisher Scientific and I think they have upside.

It's hard to argue with Bitcoin investors since the price went up so much. But we are in a bull cycle. There will be another bear cycle as well.....it all has to do with the halvening events every 4 years.

Bull market make you money.....bear markets make you rich (if you dollar cost average in during downturns).

Holding Bitcoin long term (dollar cost avg in) has been the best strategy for the avg joe that doesnt like to day/swing trade. Institutions like Tesla, Microstrategies etc. do the same. (HODL longterm and dont get concerned about short term volatility).

John McAfee Indicted by DOJ Over Alleged Cryptocurrency Fraud Charges

Federal prosecutors say that John McAfee leveraged his social media presence to engage in “age-old pump-and-dump schemes.”
https://news.bitcoin.com/us-indicts-john-mcafee-alleged-cryptocurrency-fraud-money-laundering/

Imagine that!

Onvacation says

John McAfee Indicted by DOJ Over Alleged Cryptocurrency Fraud Charges

Federal prosecutors say that John McAfee leveraged his social media presence to engage in “age-old pump-and-dump schemes.”
https://news.bitcoin.com/us-indicts-john-mcafee-alleged-cryptocurrency-fraud-money-laundering/

Imagine that!

Nooooooooo!

Onvacation says

Federal prosecutors say that John McAfee leveraged his social media presence to engage in “age-old pump-and-dump schemes.”

Yup. People and companies are just doing it "legally" now. lol.

Cardano (ADA) is now at $1.3 and i bought about 120,000 coins for an avg cost of 10 cents. I think when ADA hits $5-10 I should sell (*Big smile on my face*)

Bitcoin says

Is it time yet to remove moderator rights from WookieMan?

Prove when I've violated anything? By default your comment is personal. Don't talk about users. So I'll now mark this personal 🤦‍♂️

@Patrick

are you seeing how he targets all my posts? Can you take off his moderator rights? He is misusing/abusing his moderator rights.
I have him on ignore now but he still marks my posts personal. there needs to be a demotion :)
I'd say you put us both on a mutual ignore so we dont have to waste time with this piece of shit anymore :)

Bitcoin says

Is it time yet to remove moderator rights from WookieMan?

Talking about another user....

https://whatifyouboughtbitcoin.com/
If I had spent $50 on bitcoin in January 2011 I would be a bitcoin millionaire!

Onvacation says

https://whatifyouboughtbitcoin.com/
If I had spent $50 on bitcoin in January 2011 I would be a bitcoin millionaire!

Nice! Thanks for sharing! No wonder the consensus are that Bitcoin is the best performing asset.

Nobody's pumping crypto on patnet?

They must have realized it's a scam

Onvacation says

Nobody's pumping crypto on patnet?

They must have realized it's a scam

It's been nice. I think most users have just ignored certain users. I think it's nice. Maybe eventually an intelligent conversation about it will come around. Not hopeful, but we'll see. Pumpers come out of the woodwork once you question anything about it. Truth be damned.

WookieMan says

Maybe eventually an intelligent conversation about it will come around.

There has been a conversation and the conclusion is that crypto is not an investment but a speculative gamble dependent on the next greatest fool HODLing in order to enable a criminal money laundering scheme (scam).

Onvacation says

There has been a conversation

Not really though. "Digital gold!" "Tesla!" That's not conversing. That's not debating. Posting a false chart over and over. That's spam.

Not saying you haven't tried or others, but that's what has happened. Quickest user to 13 ignores that I can remember. I'm at 7 in a decade versus 13 in six months. I guess I see how there's no point in conversing with G36 or Newbie and should just ignore. I'm okay with a few name changers and account changers, but I still don't like it. It's not honest in my opinion. And then you change your name. It's cowardly.

Digital Gold (aka best thing sliced bread, aka Bitcoin) is almost at 60k......that must hurt those clowns that thought Bitcoin will go to 1.2k. ROFL.

Ethereum is at over 2k!!! holy crap....i remember 6 month ago when I bought ETH and thought it would at least go to $700! Boy.....its more than double of what I hoped for!
No wonder people know by now that crypto is the best performing asset class.

Bitcoin is still a scam.

It needs more gullible fools to fuel the moonshot.

What's on your flashdrive?

Onvacation says

What's on your flashdrive?

Bitcoin is on my hardware wallet. Very secure way of storing your precious digital gold coins.

I also have a lot of Cardano, link, dot, LTC, 0x and ETH! Eth stands for Ether or Ethereum! We live in very exciting times and this year Bitcoin will exceed 100k easily!

Microsoft Employee Gets Nine Years in Prison for Bitcoin Fraud

According to IRS Special Agent Ryan Korner, this is the first case in the United States related to bitcoin and tax fraud. He noted that now the IRS has all the necessary competencies to track cryptocurrencies:

“Simply put, today’s verdict shows that you can’t steal funds over the Internet, run them through bitcoin and think that it covered up your crime.”
https://tutx.net/2021/04/09/microsoft-employee-gets-nine-years-in-prison-for-bitcoin-fraud/

Don't get scammed!

Are people still gambling in crypto?

Onvacation says

Are people still gambling in crypto?

I am still HODL'ing my Bitcoins (1.9), and my ETH, and my Litecoin and my Ox, ADA, link, Tezos

I did sell my Binance coins and Dogecoins. Not at the very peak but i can live with 11x :) :)

Bitcoin might go to 350k this bull cycle, so, I will continue to HODL it.....its only at 55k or so.....But i cant complain. 6 Month ago when I bought it was at 15k :) :)

https://www.bbc.com/news/world-europe-56871403

On Friday, Vebitcoin announced on its website it had stopped all activities "in order to fulfil all regulations and claims". It was not immediately clear how many people had been affected.

"Due to the recent developments in the crypto money industry, there was a much higher density in our operations than expected. We would like to state with regret that this situation has led us to a very difficult process," it said.

Meanwhile, Turkey has issued an international arrest warrant for the Thodex founder, Faruk Fatih Ozer, who reportedly fled to Albania with an alleged $2bn (£1.4bn) from investors.

Peter Thiel: “Bitcoin can become a financial weapon of China against the United States"

Co-founder of the payment company PayPal and bitcoin enthusiast Peter Thiel (Peter Thiel) said that the first cryptocurrency can act as a financial weapon of China in the fight against the United States.

During the virtual conference, Thiel stressed that most of the miners of the first cryptocurrency are located in China. And in the event of a further deterioration in relations between the world’s two largest economies, bitcoin could be used to counter the US dollar.

“I am somewhat of a cryptocurrency advocate and bitcoin enthusiast, but there is a thought that bitcoin can be seen as part of China’s financial weapon against the United States,” said the co-founder and former CEO of PayPal.

Bitcoin can be dangerous for any fiat currency, but it is especially dangerous for the US dollar as the reserve currency of the world. Therefore, US politicians and strategists need to take into account the state of affairs in the cryptocurrency market when analyzing the geopolitical landscape.

https://tutx.net/2021/04/14/peter-thiel-bitcoin-can-become-a-financial-weapon-of-china-against-the-united-states/


#CCPcoin

FuckCCP89 says

Bitcoin can be dangerous for any fiat currency

Since crypto is valued in fiat. Crypto is fiat. Or maybe fiat fiat because you need to use fiat to buy it and when you sell it you get fiat.

But it's still a good way to launder money internationally.

Onvacation says

Crypto is fiat. Or maybe fiat fiat because you need to use fiat to buy it and when you sell it you get fiat.

Fiat squared.

FuckCCP89 says

#CCPcoin

Lol. I don't think people realize that warfare isn't lobbing missiles at people anymore or shooting the enemy. Everything has always been about wealth extraction. If you're dead, there's no money to get from you, so war makes little sense now. We're in a new era and the common person is way behind in understanding this. I think we're currently in WWIII and most people don't even know it. Crypto is a tool to extract money and gain power.

Between Covid and crypto, someone is trying to devalue the dollar bigly. They're doing it at an accelerated pace. People are paying other people for fucking digital numbers. There's no explaining this, it's what crypto is. Why? Who in the flying fuck wants a digital file and then thinks it's worth something? I think it was Misc or another user, but there's more crypto "currencies" then major stocks/companies on our big indexes.

You can make money off it, but people have to start asking the question, why? A digital currency comes out of nowhere that no one knows about, by a person with an Asian name. #FuckChina

Patrick start selling patnet coins lol. If everyone can just invent currencies, why not us?

There was this old movie name of which I forgot. But it was some ethnic country and every village had its own invented currency. And the new guy going through would get suckered into trading his goods or horses for this made up currency. Then in next village his money was useless so he had to trade away again. It was a comedy. I feel like that’s real life right now.

Fortwaynemobile says

Patrick start selling patnet coins lol. If everyone can just invent currencies, why not us?

I tried that. Patnet readers are too smart for that.

Onvacation says

I'm starting a new cryptocurrency. I am selling them at a discount while I set up the blockchain (a free open source technology where a continuously growing list of records, called blocks, are linked and secured using cryptography).

If you send me a dollar now I will send you a unique (kinda) sequence of bits (0s and 1s) when I start mining the blockchain.
GetRichQuickCoins, the currency of the future!

Onvacation says

Fortwaynemobile says

Patrick start selling patnet coins lol. If everyone can just invent currencies, why not us?

I tried that. Patnet readers are too smart for that.

@Patrick, onvacation,
how about this: We create a penny-stock type of coin that has some catchy name that caters to super leftist people. I wouldnt want to create a coin to screw Patnetters but I would love a coin to attract investors that support Antifa/BLM.

Here are some suggestions that would sucker in the right crowd:

AntifaCoin
BLMCoin
DefundPoliceCoin
BanGunsCoin
BlackMoonCoin
BlackPowerToken

the names actually dont have to have "coin" or "token" in it.

Bitcoin says

AntifaCoin
BLMCoin
DefundPoliceCoin
BanGunsCoin
BlackMoonCoin
BlackPowerToken

Now you gonna sucker all the BLM kids with these names.

All right guys let’s do BLM coin. Let’s see where it goes! Who is into this thing?

Fortwaynemobile says

Now you gonna sucker all the BLM kids with these names.

All right guys let’s do BLM coin. Let’s see where it goes! Who is into this thing?

100% in here.

not just BLM kids, but also antifa and all the other leftists.
"Support our movement by holding BLMcoin. Buy BLMcoin and start changing America now."

We'll pump the living shit out of this coin on all BLM, Antifa websites/forums.

Lol, I like this!

Patrick says

Lol, I like this!

Well, we are going to be fuckin rich on this. I've got everything we need....a software engineer that can write the code, me doing the marketing, etc,
We just need to coordinate on a private forum........

who else is in?

Bitcoin says

Patrick says

Lol, I like this!

Well, we are going to be fuckin rich on this. I've got everything we need....a software engineer that can write the code, me doing the marketing, etc,
We just need to coordinate on a private forum........

who else is in?

I’m in

@Patrick @Onvacation
@Socal2 @WookieMan

who else? what better way to get rich then pulling money from Antifa scum?

Come to think of it, isn’t all “crypto” just an elaborate confidence scheme? Like a spreadsheet makes it any less ridiculous than selling the Brooklyn Bridge.

What a great storehouse of value.

Imagine in the USD dropped 7% in an hour, then gained 10% a few hours later.