patrick.net

What a great storehouse of value.

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

MisdemeanorRebellionNoCoupForYou says

What a great storehouse of value.

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

Great payment vehicle too: the cost of every transaction is unpredictable and it can take hours to complete.

https://www.cnbc.com/2021/04/26/turkish-bitcoin-exchange-vebitcoin-collapses-amid-crypto-crackdown.html

A second bitcoin exchange collapses in Turkey amid crackdown on cryptocurrencies

Patrick says

https://www.cnbc.com/2021/04/26/turkish-bitcoin-exchange-vebitcoin-collapses-amid-crypto-crackdown.html

A second bitcoin exchange collapses in Turkey amid crackdown on cryptocurrencies

Noooooooo!

Bitcoin says

@Patrick @Onvacation
@Socal2 @WookieMan

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

I appreciate that you're finally admitting what crypto is. Problem is Antifa "participants?" don't make any money. Hard to extract money from people with none.

So,

To get rich on crypto you need fools to buy it. Who would be that foolish?

Onvacation says

Who

Tesla bought 1.5B USD worth of Bitcoin.....they HODL 90% of it and only sold 10%.

Smart. Thanks Tesla! I am 100% HODL'ing my BTC.....i did sell my Binance coin, Dogecoin....:)

https://twitter.com/TikTokInvestors/status/1385365742506364929

TikToker makes ‘scamcoin’ as a joke and within an hour it’s worth ~$70mln lmao.

Patrick says

https://twitter.com/TikTokInvestors/status/1385365742506364929

TikToker makes ‘scamcoin’ as a joke and within an hour it’s worth ~$70mln lmao.

I am pretty sure we can make lots of money by creating BLMcoin and selling it to antifa and other liberals.

Bitcoin says

I am pretty sure we can make lots of money by creating BLMcoin and selling it to antifa and other liberals.

I'm just happy you're admitting what crypto is finally. It's not a store of value per your own comment quoted here. MAKE money, not a store of value. AKA take money from others.

WookieMan says

MAKE money, not a store of value. AKA take money from others.

Eric Holder says

AKA take money from others.

thats what trading is. A transfer from dumb money to smart money. 90% of traders lose in the stock market for instance.
In Crypto, a ton of dumb money will buy into shitcoins and their portfolios will go up significantly (temporarily). The majority of shitcoin holders will ride the ship up and down because greed kicks in and they fail to DCA out of their positions.
Bitcoin is not a pump and dump to me. But its a waste of time to argue about it.....either you like investing in BTC or you dont. My holdings in Bitcoin and Altcoins have been mega profitable on paper. At some point I will start taking profits on my larger holdings. I already sold all of my Binance coin and Dogecoin.

FBI Puts Warning Signs on Bitcoin ATMs in This US County Following a Scam

The Cuyahoga County Scam Squad in Cleveland and the FBI are collaborating to alert the public about scams involving bitcoin, News 5 Cleveland reported this week. Old scams ranging from grandparent’s scam, explained Sheryl Harris, Director of the Cuyahoga County Department of Consumer Affairs.

FBI Special Agent Vicki Anderson warned that once the victims sent bitcoin, “it’s almost impossible to get it back so the best we can do is prevention and that’s why we’re trying to get the word out.”

The news outlet described that “Signs will soon be put up on bitcoin ATMs across the county,” noting that “The signs are intended to make people think twice before going through with a transaction because they could be caught in a scam.”

https://otcpm24.com/2021/05/07/fbi-puts-warning-signs-on-bitcoin-atms-in-this-us-county-following-a-scam-regulation-bitcoin-news/

If you fall for this type of scam, you deserve to be scammed:

https://otcpm24.com/2021/05/07/fbi-puts-warning-signs-on-bitcoin-atms-in-this-us-county-following-a-scam-regulation-bitcoin-news/
"A man who almost became a victim of a scam asking for bitcoin told the news outlet that he got a call from someone who sounded just like his son, who said he was hurt in a car accident, got thrown in jail, and needed bond money.

The man and his wife were instructed to withdraw $9,000 in cash, go to a bitcoin ATM, then use the QR code the scammer provided to deposit the cash. The man said that the shopkeeper where the ATM resided came up and said “can I help you?” When he explained that he needed to send money to an attorney with the bitcoin ATM, the shopkeeper told him that he was getting scammed. The couple then called their son and confirmed it was a scam."

bawahahah

Bitcoin says

bitcoin ATM

I had never heard of this, so I looked it up.

https://99bitcoins.com/bitcoin/atm/

Do Bitcoin ATMs Give Cash?

Some BTMs work both ways – meaning they can dispense Bitcoin in exchange for cash and they can also dispense cash in exchange for Bitcoin. However, most models work only for buying Bitcoin.

How much fee do Bitcoin ATMs charge?

Bitcoin ATMs charge an average fee of 8.93%. However, this is a rough average and the fees vary between ATMs. Make sure to read the instructions on the machine before starting the process.

Two screaming problems there:

1. Most just take cash and don't give cash? Hmmm, makes it sound like they really prefer cash over Bitcoin.
2. 8.93% is ridiculous.

Patrick says

Do Bitcoin ATMs Give Cash?

Some BTMs work both ways – meaning they can dispense Bitcoin in exchange for cash and they can also dispense cash in exchange for Bitcoin. However, most models work only for buying Bitcoin.

a Bitcoin ATM is not an ATM.

A Bitcoin ATM has nothing to do with a bank/bank account. Its a standalone device/kiosk for people that do not have a bank account or want to deposit cash to purchase Bitcoin without a bank involved.

Why would I want to provide this service? Only if I can generate revenue. High fees should be expected.

There is only limited supply of digital gold....we are in the midst of gold rush 2.0 (hint: high inflation environment)

Bitcoin Mining Expert Explains why Generating “Clean” BTC Blocks Can Be Extremely Challenging

He points out that many BTC addresses have been matched with “real-world identities” but “all or even most certainly have not.” This means that choosing certain transactions “based on who the senders might become little more than a guessing game,” Voell adds.

He also notes that the only way “to guarantee that all transaction fees in a block are ‘clean’ is to mine zero transactions unless the miners opts to only process transactions from a whitelist of Bitcoin addresses.” He explains that any transaction that “may later be discovered to have connections to a criminal or sanctioned entity ruins the entire ‘clean’ block effort.”

As noted by Voell:

“Simply avoiding addresses on a blacklist is insufficient. Without an address whitelist, only empty blocks can be clean blocks. Even after including zero transactions, a ‘clean’ block still isn’t safe. The address that receives the coinbase transaction with the block’s mining subsidy is, of course, public and can receive transactions.”

Voell further notes that any other BTC wallet that sends even the smallest amount of Bitcoin to the coinbase address “taints the bitcoins and sabotages the entire endeavor.” He explains that “unlike the transaction problem, where a miner can simply opt to exclude all transactions, preventing ‘tainted’ bitcoins from being sent to the coinbase address is impossible.”

https://www.crowdfundinsider.com/2021/05/175453-bitcoin-mining-expert-explains-why-generating-clean-btc-blocks-can-be-extremely-challenging/

Bitcoin still depends on all of you HODL'ers buying the dip.

Miners gotta eat.

Onvacation says

Bitcoin still depends on all of you HODL'ers buying the dip.

Exactly! HODL is the best strategy. I remember when people were happy about Bitcoin being under 20k! It will never go to 20k again!!! Look at it now....over 40k :)

PeopleUnited says

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.

Pretty much.

The waters have been muddied because US currency is fiat. I guess the young dupes figure if the government can back dollars with nothing why can't the cryptos.

I'm still selling getrichquick coins but am considering renaming them to something more subtle.

Bitcoin rises to reclaim the $40,000 level as the cryptocurrency tries to recover from brutal selloff

Onvacation says

Bitcoin rises to reclaim the $40,000 level as the cryptocurrency tries to recover from brutal selloff

It's a buying opportunity!

PINK FLOYD PARODY - CRYPTOCURRENCY NUMB

"If you HODL now, your coins will reach the moon!"

Onvacation says

"If you HODL now, your coins will reach the moon!"

I'd agree. This has been the strategy. Buy and hold. I bought 1.9 BTC last year and more than doubled my money. With Altcoins I am sitting on 10x.
During this massive bull market, buy the dips and wait.....>>> HODL.

Eric Holder says

It's a buying opportunity!

This guy gets it!

Bitcoin such a great store of value, a single Musk Tweet of a Linkin Park Buttcoin Meme causes this:

MisdemeanorRebellionNoCoupForYou says

Bitcoin such a great store of value

Could not agree more. I put about 30k into BTC last year and it more than doubled. Imagine I would have my funds sitting in a savings account. I would have lost purchasing power due to inflation.

1 year
Low:$8,975.53
High:$64,863.10

Onvacation says

1 year
Low:$8,975.53
High:$64,863.10

What an insane performance!! I remember when people said "who pays 20k for 1 Bitcoin"? Now those people would be jumping up and down if they could buy BTC at 20K
It just shows....HODL is the way to go with digital gold.

BITCOIN CONFERENCE

BTC Price Statistics
Bitcoin Price Today
Bitcoin Price $32,185.18
Price Change
24h
$-3,602.29
10.07%
24h Low / 24h High
$31,114.44 /
$35,787.47
Trading Volume
24h
$49,384,215,082.12
67.32%
Volume / Market Cap 0.08189
Market Dominance 41.24%
Market Rank #1
Bitcoin Market Cap
Market Cap $603,024,787,623.17
9.98%
Fully Diluted Market Cap $676,104,216,253.83
8.51%

Onvacation says

BITCOIN CONFERENCE

These guys look and behave like slime in that short clip. Is this not obvious? They look like tools out to CON you.

I don't care where the price goes, it ultimately has no value. I'm done predicting when it goes back to say $500 long term (likely less), but that's where it's going.

Buy the dip! Great buying opportunity!

ELIZABETH WARREN THINKS BITCOIN IS A SCAM!

At a recent Senate Banking Committee hearing, Senator Elizabeth Warren (Dem., Massachusetts) said that "cryptocurrencies have created opportunities to scam investors, assist criminals, and worsen the climate crisis."

She further added that "the threats posed by crypto" cannot stay ignored by the government and suggested that more regulations be put in place.

If Liz doesn't like it, it must be good.

Onvacation says

If Liz doesn't like it, it must be good.

True! Bitcoin is a great store of value and secure way to store value in a way that cant be taken from anyone. (hardware wallet).

Bitcoin says

great store of value

It only fluctuates like the flab on a new Victoria's Secret model.