patrick.net

yeah, sure, thats why you told us you would have sold everything at 18k. No matter how you spin it, your BS makes little sense. Once you can afford one Bitcoin we can start taking you seriously.

G36 says

yeah, sure, thats why you told us you would have sold everything at 18k. No matter how you spin it, your BS makes little sense. Once you can afford one Bitcoin we can start taking you seriously.

I would have sold, but I'm not one to invest in fake "currency" as you guys like to call it. Anyone still holding BTC right now "shooting for the moon" is in for trouble. I said there would be a holiday bump. I was right. Just because you don't like what I say, doesn't mean it's wrong. I've given you the benefit of the doubt multiple times, but you keep getting offended. I don't understand why if your investment is solid. Stop being so defensive of it.

WookieMan says

G36 says

yeah, sure, thats why you told us you would have sold everything at 18k. No matter how you spin it, your BS makes little sense. Once you can afford one Bitcoin we can start taking you seriously.

I would have sold

Why would you have sold? (you told us that after the correction, anyone can do that).
Why would you have sold if you only care about 6 figure gains, hot shot?

all talk, no action. Afford one BTC and you can start talking.

G36 says

Why would you have sold if you only care about 6 figure gains, hot shot?

Dude, you need to be careful. You clearly don't know what you're doing. I think you're assuming I'm talking about the price of BTC going to six figures. No. no. I'm talking about risking 6 figures on it and gaining 6 figures. You've gambled an average used car on it from what you've posted. Congrats. I hope that $10k gets you an average vacation to St. Lucia at their version of a Best Western. Should be a good time.

Still doesnt explain why you would have sold at 18k if you only care about 6 figures? You dont even own a fraction of one Bitcoin? You post daily on Bitcoin posts but cant afford even a fraction of one 1 BITCOIN but tell us you would have sold at 18k?

Your patronage of Bitcoin continues to feed bitcoin "miners" all over the world.

G36 says

You dont even own a fraction of one Bitcoin?

My FOMO got so bad I bought eleven satoshis.

When's the moonshot?

Currently crypto is valued in fiat. What will crypto be valued in when fiat fails?

Why do you coiners think it is the "currency of the future"?

Onvacation says

Currently crypto is valued in fiat. What will crypto be valued in when fiat fails?

History suggests that when a fiat currency fails, first is chaos and then foreign currency/specie comes into play, but foreign currencies have always been based on specie of some sort until the US dollar became fiat. I think it's either going to be specie (some commodity) or a STABLE foreign currency, so that would be the Renminbi. It won't be any currency based off from the US dollars or part of the old Breton Woods system.

So long as bitcoin is supported by people that still have liquid wealth, it may survive - but if it's all speculators it will collapse spectacularly - a Russian or Chinese seeing the price drop and chaos in the Western world may bail. Seems like the value of bitcoin would be dependent on those willing to purchase it in countries where the currency has not collapsed.

Bitcoin isn't usable as an actual currency, the transaction time takes far too long, and the transaction cost is enormous relative to the amount you're transferring if everybody is trying to do transactions. It seems to me that if the US dollar collapses, there will be a rush to sell for something that has liquidity which bitcoin really does not. Also, everybody with a collapsed currency will be moving into something tangible and liquid and since bitcoin really does fail to be very liquid due to the transaction time combined with the fee for a transaction, that bitcoin will ultimately be very harmed.

Initially people may attempt to trade assets for bitcoin, but later discover they cannot buy bread and toilet paper, and as a result abandon it. Once it proves itself to not be a store of value in an emergency, everybody may try to cash out, including those in nations with stable currencies.

Does my logic seem reasonable?

Onvacation says

Why do you coiners think it is the "currency of the future"?

I think it's because they've never actually tried to move a coin from one wallet to another so they don't know the transaction cost. If they did, they'd know what its transaction time is, and transaction cost was.

https://themoneymongers.com/bitcoin-transaction-fees/

The more people doing transactions means the higher the transaction fee. If you want to wait, say, a month, you can get a lower transaction fee.

Also miners collect transaction fees in terms of bitcoin themselves.

Full disclosure - I've always thought cryptocurrencies and "blockchains" were a scam. They don't scale - blockchain is a slow database.

richwicks says

Does my logic seem reasonable?

Yup, 100%. The responses won't be reasonable that you get from crypto guys though. You know nothing because you don't have any... so buy now and you'll become all knowledgable. That's basically where all these threads go, as 20 year olds sink all their net worth into it and get excited over gains that might pay for a vacation. Yet they don't realize when the power goes out their "currency" is 100% worthless.

It's kind of sad in all honesty. Chasing a get rich quick scheme. Not understanding terminology of anything, yet spouting off how it's gonna go to $300k. You ask why, and they say just because basically. Or you don't know because you don't have any. It's like having a working knowledge of plumbing but you're not a plumber. Just because I don't do it for a living or hold crypto, doesn't mean I cannot be well versed if not an expert on it.

Rinse and repeat. I already know the responses you're going to get. Enjoy.

Full disclosure, I was editing when you were writing, so maybe I changed my thinking. Kind of loopy right now.

WookieMan says

It's kind of sad in all honesty. Chasing a get rich quick scheme. Not understanding terminology of anything, yet spouting off how it's gonna go to $300k.

Maybe it WILL go to 300K - could go higher. Who knows?

I just don't think it's a safe haven, I think it's the exact opposite of one in fact. I don't see how it can be used as a currency because the more transactions that are made in a period of time, the more expensive it gets to do a transaction. This is the failure of a distributed blockchain.

A house isn't a safe haven either, everybody thinks it's one. What are you going to do when there's riots in your area? What if you're in the boonies and cannot get food? Farmers will do OK I think, but if things are really bad, they're not going to be getting any gasoline or fuel and it's not like farmers have oxes to pull plows today. I'll probably be working for a farmer trading specie for food to give them liquidity and in exchange I have a place to stay and some food to eat. Provided they don't blow my head off as I approach the farm..

richwicks says

STABLE foreign currency, so that would be the Renminbi.

Unless that Commie shithouse of cards collapses even earlier.

richwicks says

Farmers will do OK I think

Farmland coincidentally is getting expensive, especially within reasonable driving distance from cities. I am thinking of buying a hundred acres or so within a couple of hours form where I live, but good plots go very quickly these days.

https://www.forbes.com/sites/billybambrough/2020/11/19/leaked-citibank-report-reveals-bitcoin-could-rocket-to-300000-price-by-end-of-2021/?sh=61b518d66eab

Incredible. Leaked Citibank report reveals Citibank analysts estimate Bitcoin will rocket to 300k by end of 2021! Imagine what that will do to the haters who hope it will go to zero. Lol

Onvacation says

G36 says

You dont even own a fraction of one Bitcoin?

My FOMO got so bad I bought

My theory all along. You missed the boat and are now trying to bash Bitcoin with the hope that Bitcoin goes lower so you can afford at least a tiny piece of the pie.

G36 says

My theory all along. You missed the boat and are now trying to bash Bitcoin with the hope that Bitcoin goes lower so you can afford at least a tiny piece of the pie.

'Cause they're not making any more pie.

exactly! There will never be more than 21M Bitcoin! You finally got the scarcity part down!

Finally, we agree on the traits of money!

lol

Dbr6 says

I am thinking of buying a hundred acres or so within a couple of hours form where I live, but good plots go very quickly these days.

Do your research big time on farmland. It is an easy carry if you have the cash, but there's considerations like soil quality, drainage, location, etc. The farmers are all experts in this and will screw you every chance they get. Like any industry. Also, from my experience when you go to sell it, the neighboring farmer usually is the one that wants to buy it unless there's industrial, retail or residential development coming. That's when you make bank from appreciation. Or even develop it yourself if you're inclined to (pain in the ass, but where the $$$$ is).

G36 says

exactly! There will never be more than 21M Bitcoin! You finally got the scarcity part down!

Artificial scarcity. Actual scarcity, like the above farmland comment is of actual value. As cities grow and suburban subdivisions pop up there's less farming land. Thing is that land feeds livestock and people. Bitcoin does none of that. BTC literally does nothing except pay electric utilities a fuck ton. It's why BTC is a trading tool. Not an asset or investment. There's no actual value at all, which is why you guys get so defensive. And I think you know it.

Wookie says
"artificial scarcity"

no shit Sherlock. What do you think programmable money is? Bitcoin doesnt grow on a farm, so it cant be naturally scarce.
You just cant help but keep embarrassing yourself?

WookieMan says

Do your research big time on farmland. It is an easy carry if you have the cash, but there's considerations like soil quality, drainage, location, etc. The farmers are all experts in this and will screw you every chance they get. Like any industry. Also, from my experience when you go to sell it, the neighboring farmer usually is the one that wants to buy it unless there's industrial, retail or residential development coming. That's when you make bank from appreciation. Or even develop it yourself if you're inclined to (pain in the ass, but where the $$$$ is).

I am thinking of it as partially investment, partially possibility to get out of city if things go south, and partially place where I can retire. This creates a lot of restrictions wrt what I will buy, thus making process slow. Best would be something that has about 50% farmland and 50% forest for hunting, some water as in a permanent stream, and away from E. Texas whiggers/coonasses who will screw you over whenever possible (that is what my W Texas redneck friends are telling me, although I do not know how much truth is in it. Perhaps it is their perception that everyone who lives in swamp is evil). I know enough friendly locals to figure out if area is decent or not.

Wookie says
"which is why you guys get so defensive."

there is no need to get the defensive. Your comments are the laughing stock. You cant afford a fraction of one Bitcoin and tell us you would have "sold everything at 18k". A minute later you tell us you only care about 6 figure gains. You lost it and dont know what you are writing. At this point you throw whatever BS comes to mind in the hopes that something will stick.

My suggestion: talk on topics you actually know something about or have a stake in.

WookieMan says

It's why BTC is a trading tool.

No. It's a speculative scheme that depends on incoming money to pay the power bills. The only way out is to find someone to buy it from you. Bitcoin has no practical use and takes the equivalent of two years of power for the average American home to "mine" one bitcoin.

Having said that my eleven satoshis should be worth millions when btc shoots for the moon.

Onvacation says

Having said that my eleven satoshis should be worth millions when btc shoots for the moon.

So btc trolls did make you to buy some, lol. This is the sole reason for their activity.

G36 says

Wookie says
"artificial scarcity"

no shit Sherlock. What do you think programmable money is? Bitcoin doesnt grow on a farm, so it cant be naturally scarce.
You just cant help but keep embarrassing yourself?

Lol, I'm totally embarrassed ;) You keep falling in the traps and don't know it. That's the sad part. Enjoy dude. You have no clue what you're doing. Programable money.... lol.

FuckCCP89 says

Onvacation says

Having said that my eleven satoshis should be worth millions when btc shoots for the moon.

So btc trolls did make you to buy some, lol. This is the sole reason for their activity.

FuckCCP, respectfully, I disagree.
This run is driven by institutions. Nobody here can make the smallest dent in Bitcoins price. Square, PayPal, Guggenheimer, hedge funds are pouring millions of USD into Bitcoin. Sure, some people like Wookie pretend they are big shots but in reality they cant buy a single Bitcoin.

OnVacation puts his money into physical silver coins. I think he should just keep doing this.

Nobody here wants to convince you to buy crypto. Just please stick around when the euphoria starts. I want to see the reactions :)

Wookie says
"I'm totally embarrassed"

I know. And I have a feeling there will be many more laughable comments by you, Mr. "artificial scarcity" and "sold everything at 18k".

G36 says

Wookie says
"I'm totally embarrassed"

I know. And I have a feeling there will be many more laughable comments by you, Mr. "artificial scarcity" and "sold everything at 18k".

New name, same old stupidity. Enjoy your BTC. You don't know what you're doing. Enjoy your unrealized "euphoria" as you say. lol. Oh wait, we all know there's nothing for you to realize as you don't have anything in BTC. Maybe $100. Congrats on the big win champ!

Sad part is there are people here that have actually given good investment advice in the past. They make you look bad. Oh well.

WookieMan says

Do your research big time on farmland. It is an easy carry if you have the cash,

Back in the early 70's, the brother-in-law of my friend's wife who was living in Houston loved to hunt in the area of a little town called Dime Box, kind of in southeast Texas. He liked it so much he bought 100 acres at $1,000 an acre and built a small cabin on it for when he went hunting. We all laughed at him at how he was going to be paying for that land for the rest of his life. This was just before the OPEC oil embargo and the oil price spike. The price of the land included the minerals and when a test well was drilled it turned out to be a bonanza--they were guaranteed a minimum of $60K a year as far as they could see. They quit their jobs in Houston, moved to Dime Box and built a lovely house onto the cabin and lived productive lives for the next 20 years. He joined the law enforcement of the area and eventually became sheriff, she was a high school teacher. Sadly, he passed away around 2000 from Hodgkin's disease and is buried on the property. The house sits atop a beautiful hill that is terraced down to a small lake and his widow still lives there.

NDrLoR says

Dime Box

That's a nice area - Lake Somerville is close by.

G36 says

Bitcoin doesnt grow on a farm

Of course not!
It's "mined" on a farm.

Kevin O'Leary buys BTC as well now. I guess everyone with money wants some digital gold!

https://cointelegraph.com/news/pomp-talks-shark-tank-s-kevin-o-leary-into-buying-a-little-more-bitcoin

WookieMan says

G36 says

Wookie says
"I'm totally embarrassed"

I know. And I have a feeling there will be many more laughable comments by you, Mr. "artificial scarcity" and "sold everything at 18k".

New name, same old stupidity. Enjoy your BTC. You don't know what you're doing. Enjoy your unrealized "euphoria" as you say. lol. Oh wait, we all know there's nothing for you to realize as you don't have anything in BTC. Maybe $100. Congrats on the big win champ!

Sad part is there are people here that have actually given good investment advice in the past. They make you look bad. Oh well.

That's all you got, big shot? What a big attack that I need to defend. I am starting to feel sorry for you, lol

Onvacation says

G36 says

Bitcoin doesnt grow on a farm

Of course not!

See, even onvacation learns....and thats probably why he bought Bitcoin now. Education wins. You would hope wookie would learn slowly but his learning curve is more like a flat line.

G36 says

Onvacation says

G36 says

Bitcoin doesnt grow on a farm

Of course not!

See, even onvacation learns....and thats probably why he bought Bitcoin now. Education wins. You would hope wookie would learn slowly but his learning curve is more like a flat line.

Not even my comment and I've gotcha thinking about me. Insecure much? lol.

G36 says

See, even onvacation learns....and thats probably why he bought Bitcoin now. Education wins. You would hope wookie would learn slowly but his learning curve is more like a flat line.

How many satoshis do you own?

My satoshis are worth approximately 17/100ths of a cent in US fiat money. It's hard to keep track.

I am glad you finally bought a fraction of a Bitcoin, onvacation! Congrats!

WookieMan says

G36 says

Of course not!

See, even onvacation learns....and thats probably why he bought Bitcoin now. Education wins. You would hope wookie would learn slowly but his learning curve is more like a flat line.
I've gotcha thinking about me.

Of course! Your comments are the most hilarious ones on here.

"I'm good with 9%" oh yeah, so how much have you invested, in order to make a 9% a six figure gain? Since you also said, you only care about "six figure gains"

"Bitcoin is not backed by anything" No shit Sherlock. Thats the point of being decentralized.

"Artificial Scarcity" No shit Sherlock. How could a digital asset be "naturally" scarce?

Keep the BS coming. Apparently, you don't care how idiotic you sound.

WookieMan says

G36 says

Onvacation says

G36 says

Bitcoin doesnt grow on a farm

Of course not!

See, even onvacation learns....and thats probably why he bought Bitcoin now. Education wins. You would hope wookie would learn slowly but his learning curve is more like a flat line.

Not even my comment and I've gotcha thinking about me. Insecure much? lol.

Of Course!

Your comments have been quite entertaining. Keep the BS coming.

"I would have sold everything at 18k" Oh really, you said this right after the correction occurred. A 7 year old can call a local top after the event happened. But why would you have sold "EVERYTHING" if you only care about 6 figure gains?

"I'm good with 9%" Oh really, so how much have you invested to make the 9% a six figure gain. Since you said, you only care about 6 figure gains, big shot? We'll never see a screenshot! Especially funny, since you dont own even a fraction of one BTC.

"Bitcoin is not backed by anything" no shit, the entire point of being decentralized.

"articifical scarcity" noooo shit. How could a digital asset be naturally scarce?

I dont know if you can top this, but we'll see.