patrick.net

@fjb

Just one question, how do you make money investing in bitcoin without a greater fool paying more than you did?

Still waiting for a cogent answer, but not expecting one.

Onvacation says

You have yet to refute my previous arguments or answer my previous questions.

And I don't really expect you to.

Yes a did!

Onvacation says

without a greater fool

dispute the premise!

Onvacation says

Nope, just personal attack.

Not personal, just poking fun at you because clearly you're just messing with me at this point as well. You got me though!

FJB says

you're just messing with me

No, I'm just pointing out that you don't understand Blockchain and won't answer questions.

Bitcoin is a scam and anyone who plays without knowing that is a rube.

FJB says

Onvacation says

without a greater fool

dispute the premise!

If not the greater fool, how do you make money from crypto?

None of the crypto pushers have answered this question.

I have some BTC that I paid $64,000 for.
Please buy it from me.
You will not regret it.
I am only selling it because I have a girlfriend who doesn’t “understand crypto” and I don’t want her to get pissed off at “daddy”.
Thank you for your understanding.

clambo says

I have some BTC that I paid $64,000 for.
Please buy it from me.

Nah, HODL and sell in the future for 150-200k. Its a great inflation hedge!

Onvacation says

No, I'm just pointing out that you don't understand Blockchain and won't answer questions.

Sure I do if they aren't personal or too broad to answer succinctly. I did recommend you look up a utube video on the subject if you're interested - there are many, some with programming examples. If you narrow down your question I'll do my best to answer if I can.

Generally, nobody who understands block chains would say, "you don't understand Blockchain". They'd say, "What do you know about blockchains" - plural or specify a particular blockchain because there are many. Seems you don't know anything about them.

What do you know about the internal workings / plumbing of the US financial system?

Onvacation says

If not the greater fool, how do you make money from crypto?

None of the crypto pushers have answered this question.

I showed a specific example above how El Salvadorians make (by transverse property of equality) 400MM / year. It's not what you make it's what you keep. But there are other ways to just directly make money. For instance you can stake your coins on a platform to provide liquidity and get paid a portion of the fees. That's just a single example - there are many others. It's not my job to educate you.

How do you make money from government fiat?

clambo says

I have some BTC that I paid $64,000 for.

Sell me a call option for $200 that expires in 2 years and it's a deal.

Meanwhile I have one share of Amazon stock I bought at 3676 wanna buy it?

FJB says

Onvacation says

No, I'm just pointing out that you don't understand Blockchain and won't answer questions.

Sure I do if they aren't personal or too broad to answer succinctly. I did recommend you look up a utube video on the subject if you're interested - there are many, some with programming examples. If you narrow down your question I'll do my best to answer if I can.

Generally, nobody who understands block chains would say, "you don't understand Blockchain". They'd say, "What do you know about blockchains" - plural or specify a particular blockchain because there are many. Seems you don't know anything about them.

What do you know about the internal workings / plumbing of the US financial system?

No 1 blinder then those who choose to be blind. They jumped on the haters wagon and to prideful to educate and jump off into the reality of the 4th industrial revolution...
When eventually they have to eat that big fat shit sandwich they might consider pouring lots of hot sauce on top and swallowing it whole and not to nibble...

If they invest right now they have extremely good odds/risk of being able to sell BTC @ 89k - 104k this year.2022

Cash says

If they invest right now they have extremely good odds/risk of being able to sell BTC @ 89k - 104k this year.2022

I'm not so sure and am actually hoping it crashes hard to give me a chance to buy a ton more. I think the crypto-winter cycles related to bitcorn halving events are history though. The halving going forward is too small and too many institutional players are getting involved.

Onvacation says

None of the crypto pushers have answered this question.

I'm not a crypto pusher I've stated above it's okay to hate it. My argument is that bitcoin in particular is not a scam and its not a pyramid scheme. That is all...

I think threads like this are started from one of two base emotions: fear, envy or both.

I understand the fear part, in particular for older folks. Change is scary.

The envy though (if so) is super lame. Yeah, tons of kids became crypto millionaires. Good for them! I've never been envious of anyone. If I see someone make out it just makes me want to work harder to get the same. It literally makes me happy to see people doing well or better than myself.

On the other hand I have been jealous plenty of times (different from envy) when my girlfriend at the time was getting attention from other guys and enjoying it but that's about it and that's justifiably moral: Guy should be jealous.

Otherwise, nobody would care to post a thread like this. Then again, it's just the title that is 'bitcoin misinfo' the text just below the post title doesn't have anything to do with bitcorn.

Cash says

If they invest right now they have extremely good odds/risk of being able to sell BTC @ 89k - 104k this year.2022

To a bigger fool.

Meanwhile vast amounts of energy used by the miners has to be paid for.

FJB says

jealous.

Otherwise, nobody would care to post a thread like this.

Just warning the fools you would like to take advantage of when you sell your coins (for "fiat" ) someday.

Or are you one of those HODLers?

Onvacation says

Meanwhile vast amounts of energy used by the miners has to be paid for.

It's actually not that much and a lot of it is wasted energy. You'd be surprised how much free energy is not used. It's much less than the legacy finance system by a long shot.

Onvacation says

Just warning the fools you would like to take advantage of when you sell your coins (for "fiat" ) someday.

What's to say I don't buy a house or tesla?

Onvacation says

Or are you one of those HODLers?

I made some in trading and yes do hold a few tiny positions that are underwater at the moment.

FJB says

What's to say I don't buy a house or tesla?

Is that your plan?

FJB says

Onvacation says

Or are you one of those HODLers?

I made some in trading and yes do hold a few tiny positions that are underwater at the moment.

What is the ultimate goal of HODLing?

I've heard some say they HODL for the day when Bitcoin becomes THE currency. What is your rationale for HODLing?

richwicks says

FJB says

FJB says

@richwicks in essence what you said would be equivalent to saying TCP/IP has no real value. It just moves packets around, you can't make money off of it, it's a scam - back in the day.

Don't strawman me. You know you are engaging in a logical fallacy, but you do it anyhow.

The problem with a distributed database is that you need to have all machines on at all times, you need to have timely connections to them, and you have to have fast indexing to access them.

Even with bit-torrent, it takes 30 seconds or so before the connection(s) are made. Once it gets going, provided with enough peers, you hit saturation of bandwidth. These are minimal transactions, so it's 30 seconds just to ESTABLISH a connection, and then you're on a priority list.

Distributed databases are great f...

Be careful about centralization... remember Napster?
In the crypto world... Cryptsy... Cryptopia,, et.al... but I understand.. both of the former are no longer

Onvacation says

Is that your plan?

Irrelevant..

Onvacation says

What is the ultimate goal of HODLing?

I've heard some say they HODL for the day when Bitcoin becomes THE currency. What is your rationale for HODLing?

I never claimed to be a HODLing. But. If/when I can get a good entry point at a low price I'd make a long term investment out of it.

FJB says

I think threads like this are started from one of two base emotions: fear, envy or both.

Exactly. And nothing you will see will change their view. Give up and dont waste your time. You wont even get them to agree to the basics of blockchain and crypto.

FJB says

How do you make money from government fiat?

OV's investments....dont think he's making money with it....but at least we know in what he "invests".....not really surprising he doesnt have any interest in learning about blockchain and crypto.

food, entertainment, silver coins and a matchbox car (10k) LOL

FJB says

I never claimed to be a HODLing. But. If/when I can get a good entry point at a low price I'd make a long term investment out of it.

OK.
Say you bought a coin for 20k. At what price would you sell? 100k? 500k? How much would someone have to pay you before you would be willing to part with that coin?

Onvacation says

FJB says

I never claimed to be a HODLing. But. If/when I can get a good entry point at a low price I'd make a long term investment out of it.

OK.
Say you bought a coin for 20k. At what price would you sell? 100k? 500k? How much would someone have to pay you before you would be willing to part with that coin?

I am a big HODL'er
Bought BTC at 15k, CARDANO at 10 cents and ETH at 700ish.

I am going to HODL for a few years and might sell one of my BTC for 120-150k. Not sure yet. I could also wait until its worth 500k. We'll see. Not really in a hurry. I am just really sure, Bitcoin will continue to trend higher over time. It has for the last 10 years :)

How big would the bigger fool have to be?

Onvacation says

OK.
Say you bought a coin for 20k. At what price would you sell? 100k? 500k? How much would someone have to pay you before you would be willing to part with that coin?

Have you ever traded a stock? Have you ever looked at trading view? Do you know how to use technical indicators (very basic) like RSI and MACD? I will buy when the current trend reverses and sell when that trend is reversing.

Onvacation says

How big would the bigger fool have to be?

Fools are people who think bitcoin is a scam or a ponzi scheme not realizing that the entire US financial system is one giant Keynesian ponzi scheme that even Keynes would shake his head at.

So... I asked you some questions up above but you haven't answered them. Here is another:

How do you feel about being forced to use CBDC? It's looking more and more like that's going to happen.

Bitcoin says

Exactly. And nothing you will see will change their view. Give up and dont waste your time. You wont even get them to agree to the basics of blockchain and crypto.

I've decided it's mostly fear. Definitely not hate. I had a girlfriend who once told me you only hate the ones you love. That bitch was right!

Bitcoin says

OV's investments....dont think he's making money with it....

Rich boomers in the SF bay area don't have to they are set. I don't care either way. Like I said, I like the guy. How could you dislike a cool guy with such a bad ass sailboat. Seriously, I'm not being facetious. He did a bang up job replacing those sails!

I'm going to buy a cat sailboat with part of my bitcorn earnings someday but in Florida. Something I can live aboard part of the year. Partly b/c I won't be able to buy a boat and a house there (and in TX and in other places)

FJB says

boomers

Yep, most of them dont like Bitcoin and crypto!
Its like trying to tell someone you should go away from using landlines or trying to convince someone to switch from a flip phone to a smart phone.

@FJB
I dont think OV will answer any of your questions. He doesnt have any interest in a normal conversation. All he does is spread misinformation about Bitcoin and repeats "greater fool" 5 times in a row.

FJB says

Rich boomers in the SF bay area don't have to they are set

Every single rich person I know owns some Bitcoin. Rich in my world means a net worth of several million USD. I am not saying they got rich by buying Bitcoin, I am saying they understand that some exposure of your net worth should be invested in crypto.

FJB says

Onvacation says

OK.
Say you bought a coin for 20k. At what price would you sell? 100k? 500k? How much would someone have to pay you before you would be willing to part with that coin?

Have you ever traded a stock? Have you ever looked at trading view? Do you know how to use technical indicators (very basic) like RSI and MACD? I will buy when the current trend reverses and sell when that trend is reversing.

so no answer

FJB says

I'm going to buy a cat sailboat with part of my bitcorn earnings someday

You got to live your dreams as you go. You can't wait for bitcoin to "go to the moon" before you buy your boat.

If you don't know how to sail, take lessons. If you want to live on a boat, but a boat and live on it.

Onvacation says

so no answer

The answer is it's not about a price point as much as it is about technical indicators.