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Bitcoin Misinformation


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2020 Nov 10, 10:01am   114,339 views  2,063 comments

by Onvacation   ➕follow (4)   💰tip   ignore  



In my opinion, it’s a colossal pump-and-dump scheme, the likes of which the world has never seen. In a pump-and-dump game, promoters “pump” up the price of a security creating a speculative frenzy, then “dump” some of their holdings at artificially high prices. And some cryptocurrencies are pure frauds. Ernst & Young estimates that 10 percent of the money raised for initial coin offerings has been stolen.

The losers are ill-informed buyers caught up in the spiral of greed. The result is a massive transfer of wealth from ordinary families to internet promoters. And “massive” is a massive understatement — 1,500 different cryptocurrencies now register over $300 billion of “value.”

https://www.vox.com/2018/4/24/17275202/bitcoin-scam-cryptocurrency-mining-pump-dump-fraud-ico-value

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261   WookieMan   2020 Dec 3, 1:40pm  

richwicks says
And you know what I do when I go out to eat? I never tip with a credit card. I cross out the tip on the bill, leave at least 15% in cash, and if the waiter is around I tell them specifically - I left a gift for you, gifts aren't taxable like tips are. Even when I'm with a group, I try to allow them to leave a tip in cash.

I agree from the severs standpoint that cash is king. I'm a CC points guy though, so that tip is a free kickback whereas cash gets me nothing. There are jackasses out there for sure, but my card is always ready at a restaurant, gas station, grocery store, etc. It does piss me off too when you're in line and someone is fumbling around with a wallet or purse as they just sat there until it came to crunch time. I usually have my card in the machine before the groceries are even scanned. Ready before the server brings the check. Vast majority of people give zero shits, hence why it's so easy to brainwash them.
262   Bitcoin   2020 Dec 3, 1:42pm  

wow, I am amazed.

Wookie,
Another stupid response. We are used to that. Who said nobody pays with a phone in the US??? Who said that? And you didnt even get Richwicks point. Yes, please do us all a favor and stop talking/writing.

Richwick,
you are telling us it takes longer to pay with a credit card or phone than with cash? you got to be kidding me.
With the credit card you dont even have to slide it anymore. Just tap it.

https://globalnews.ca/news/2295763/tap-and-pay-cards-its-fast-and-convenient-but-is-it-more-secure/

I dont think I have ever heard that paying cash is actually faster than a CC or paying via phone, but i guess nothing should shock me anymore.
You probably pay for gas in cash instead of using your card at the machine?

When i think about cash, i think about dirty coins/paper that has gone through dirty hands. I dont even want to touch it and i havent had a traditional wallet in 10-15 years now. (i do have several crypto wallets :) )
Easy to lose some cash in your wallet/pockets too. If you lose a credit card you just cancel it.
263   Bitcoin   2020 Dec 3, 1:43pm  

personal
264   WookieMan   2020 Dec 3, 1:51pm  

G36 says
Another stupid response. We are used to that.


G36 says
-I dont think you have been outside of the US in the last couple of years? Some countries are way ahead of the digitalization of money (in some asian cities you pay by phone, almost nobody carries cash anymore)


G36 says
Who said nobody pays with a phone in the US??? Who said that?
265   WookieMan   2020 Dec 3, 1:58pm  

G36 says
Pls wookie, you said several times you are not commenting anymore.

Reading. Quote it. Should be easy enough.

Your inner troll is coming out from past crypto posts/comments. Good for you.
266   Bitcoin   2020 Dec 3, 2:02pm  

Now you are even confirming your own stupidity by reposting it. What kind of a troll are you? And I said asian cities not countries. fuck are you special. ROFL

G36 says
-I dont think you have been outside of the US in the last couple of years? Some countries are way ahead of the digitalization of money (in some asian cities you pay by phone, almost nobody carries cash anymore)

WookieMan says
Not only are they stupid, but apparently no one pays by phone in the USA. Nobody. Only Asian countries. Lol.

so again, who said nobody pays by phone in the USA?
Maybe you are even dumber than I thought and you dont understand the sentence:
"in some asian cities you pay by phone, almost nobody carries cash anymore"
267   richwicks   2020 Dec 3, 2:03pm  

G36 says
I dont think I have ever heard that paying cash is actually faster than a CC or paying via phone, but i guess nothing should shock me anymore.


HEARD of it?

I experience it, CONSTANTLY.

There are a great deal of people who won't believe anything unless somebody else has TAUGHT it to them. The reason you think a credit card to pay for a $5 coffee is faster than just handing the server $5 is because of a fucking commercial. 1/2 the time I'm in line, I've got enough time to calculate the cost of what I'm buying anyhow. If I'm buying a coffee or a burger, I don't take change, I just give them the cash and leave them with a tip.

I fucking have to live in this goddamn clown world where there's a BUNCH of people who won't believe their lying eyes, but will believe a fucking commercial. So goddamned tired of it.
268   Bitcoin   2020 Dec 3, 2:05pm  

richwicks, when I go to starbucks i pay via app.

"If I'm buying a coffee or a burger, I don't take change, I just give them the cash and leave them with a tip." Thats your choice to overpay everytime.

What do you do at the gas station if you hate CC so much? Do you know how many CC points you could collect by paying the same amount in a cleaner way (cash coins are dirty).

Tell us how you pay for gas!
269   WookieMan   2020 Dec 3, 2:06pm  

G36 says
when I go to starbucks i pay via app.

lol. That explains a lot....
270   Bitcoin   2020 Dec 3, 2:07pm  

WookieMan says
G36 says
when I go to starbucks i pay via app.

lol. That explains a lot....


a lot? name one thing. name a single thing thats wrong with that. just one.
271   WookieMan   2020 Dec 3, 2:11pm  

G36 says
WookieMan says
Not only are they stupid, but apparently no one pays by phone in the USA. Nobody. Only Asian countries. Lol.

So those cities are in Australia? Lebanon? Why Asian? You're dense bro. You decided to pick Asian cities. That doesn't change the country.
272   WookieMan   2020 Dec 3, 2:15pm  

G36 says
WookieMan says
G36 says
when I go to starbucks i pay via app.

lol. That explains a lot....


a lot? name one thing. name a single thing thats wrong with that. just one.

Was it Bitcoin? That you paid for with an app or cash? If it was an app surely you were in Asia.

Starbucks is pure trash coffee. Grow up and brew you own. If you enjoy trash.... well I guess I understand more about you now. ;)
273   Bitcoin   2020 Dec 3, 2:17pm  

WookieMan says
G36 says
WookieMan says
Not only are they stupid, but apparently no one pays by phone in the USA. Nobody. Only Asian countries. Lol.

So those cities are in Australia? Lebanon? Why Asian? You're dense bro. You decided to pick Asian cities. That doesn't change the country.


Who said nobody pays by phone in the US? Still no answer?
And yes, there is a big difference between some asian cities and the entire country. Its like comparing San Diego to IL. You clearly havent been in Asia before.
They pay in certain cities by phone and barely carry cash. China for instance is a fuckin large country. Somewhere in the boondocks of china they dont pay via phone.....they might trade or pay by cash. Go to a large city and its like being in a different world.

Every single comment you make could be screenshotted. You must be the du*** f*** / most uneducated guy on this site. I am surprised you only have 6 ignores.
Jesus.
274   richwicks   2020 Dec 3, 2:19pm  

G36 says
"If I'm buying a coffee or a burger, I don't take change, I just give them the cash and leave them with a tip." Thats your choice to overpay everytime.


Oh my fucking god! Some poor bastard is making me a sandwich and I'm supposed to be worried about the $1 extra I gave the minimum wage worker? I probably make about 7 times what that guy makes.

G36 says

What do you do at the gas station if you hate CC so much?


What do you think? At 1/2 the gas stations there isn't even an attendant anymore.

G36 says
Do you know how many CC points you could collect by paying the same amount in a cleaner way (cash coins are dirty).


Well, my answer is, who gives a shit?

Do you clip coupons? You know how much you could save if you did?!?!

WookieMan says

Starbucks is pure trash coffee.


And @WookieMan is goddamned right about that one. Basically all coffee in the United States is crap. I'll never get why people think Starbucks is "good". All it is, is sugar and dirty brown water.
275   WookieMan   2020 Dec 3, 2:20pm  

G36 says
Every single comment you make could be screenshotted. You must be the du*** f*** / most uneducated guy on this site. I am surprised you only have 6 ignores.
Jesus.

Took me almost a decade to get there bud. You're on pace for 6 in a year. lol.

Keep up the insults though big boy.
276   Bitcoin   2020 Dec 3, 2:21pm  

WookieMan says
G36 says
WookieMan says
G36 says
when I go to starbucks i pay via app.

lol. That explains a lot....


a lot? name one thing. name a single thing thats wrong with that. just one.

Was it Bitcoin? That you paid for with an app or cash? If it was an app surely you were in Asia.

Starbucks is pure trash coffee. Grow up and brew you own. If you enjoy trash.... well I guess I understand more about you now. ;)


oh my f.ing gosh.

"grow up and brew you own" really dude? Thats your line?
"Was it Bitcoin" ....to pay for coffee??? it was the fuckin starbucks app
"If it was an app surely you were in Asia" muahhaha, so you never your heard of a starbucks app. cool.

jesus. I wish somehow your internet access would get interrupted....for maybe a couple of years :D
277   WookieMan   2020 Dec 3, 2:24pm  

G36 says
jesus. I wish somehow your internet access would get interrupted....for maybe a couple of years :D

It hasn't been interrupted going about 4 years now. You can't get rid of me. Battery backup and all that fun stuff. If you're not a BTC troll, maybe post in other threads here. Maybe you'll surprise me? I don't expect much though.
278   Bitcoin   2020 Dec 3, 2:24pm  

well i really dont care what coffee you guys like or what you drink. Back to the real topic. Traits of money

279   WookieMan   2020 Dec 3, 2:26pm  

G36 says
well i really dont care what coffee you guys like or what you drink.

Why bring it back up at all then if you don't care? You clearly do. As evidenced by your comment quoted here.
280   Bitcoin   2020 Dec 3, 2:26pm  

WookieMan says
G36 says
jesus. I wish somehow your internet access would get interrupted....for maybe a couple of years :D

You can't get rid of me.


I know. Life's never easy. Stupid people have a vote too and they can spread their stupidity online. The fact that you only have 6 ignores is still a surprise though. I havent read a single thing from you that made any sense.
281   WookieMan   2020 Dec 3, 2:33pm  

G36 says
Stupid people have a vote too and they can spread their stupidity online.


WookieMan says
Why bring it back up at all then if you don't care? You clearly do.


Grow up softy. Lol. You need a tissue for those tears?
282   richwicks   2020 Dec 3, 2:40pm  

G36 says
"If it was an app surely you were in Asia" muahhaha, so you never your heard of a starbucks app. cool.


I doubt he goes to Starbucks. It's the most over-rated coffee ever. Have you ever had real coffee in your life before? There's a wonderful Ethiopian restaurant called Zeni's near where I live. They serve a coffee called "Boona" but you kind of have to know an insider to get it. One of my coworkers was an Ethiopian, so he ordered it.

This is actually good coffee, it's served in a TINY little saucer, it's EXTREMELY strong, and it has a hint of sweetness to it, and it's just coffee. Ethiopians sometimes flavor their coffee with salt and not sugar.

Coffee in the United States is almost universally burnt. You're drinking charcoal flavored water. That's what Starbucks serves. You can brew better coffee in a Mr Coffee than Star Bucks can. Their coffee is horrible. Starbucks is to coffee as Taco Bell is to Mexican food and holy cow, it's expensive for what you get. I'd have no problem paying $5 for a coffee, if it wasn't awful coffee.

Starbucks can't even make Chai correctly. Here's the recipe for ice Chai

1) Box of tea (get something that isn't fancy or flavored, Earl Grey for example
2) Ginger root
3) Cardamom pods.
4) (optional - cinnamon sticks / cloves) - you have to vary the quantities on your own for this
5) Saucepan and about a pint of water.

Cut off about 4 slices of ginger root - it's a weird thing so you kind of have to learn how much you like. Crush about 6 cardamom pods up - just open it so the seeds can be exposed to the water. Throw that into a pan and add about a pint of water and bring to a boil. Once it's boiling, for a bit, place ALL your teabags into the pan, and let it brew, turn off the heat. Let it sit for 10 minutes or so.

Remove bags, and squeeze them out, remove pods and ginger. Let cool (I like ice chai). There - it's highly concentrated but you can fix that by adding water. If you want you can dissolve sugar into this or another sweetner. I drink it over ice, with heavy cream and sugar. That's much better than you get at Starbucks, and the irony is, I'm taking a ton of shortcuts - real chai is boiled in milk.
283   Bitcoin   2020 Dec 3, 3:54pm  

"I doubt he goes to Starbucks."

yep, I think you are right. I picture him somewhere in flyover country. Unfortunately, dumb hillbillies have internet access too.
284   WookieMan   2020 Dec 3, 4:07pm  

richwicks says
I doubt he goes to Starbucks. It's the most over-rated coffee ever.


G36 says
"I doubt he goes to Starbucks."

yep, I think you are right. I picture him somewhere in flyover country. Unfortunately, dumb hillbillies have internet access too.


G36 says
richwicks, when I go to starbucks i pay via app.


Lol.
285   WookieMan   2020 Dec 3, 4:10pm  

G36 says
I picture him somewhere in flyover country.

I've literally stated time and time again I'm from IL here. Maybe get out of the sewer that is crypto pump threads.

At least I'm not a dumb ass paying 4-5 times what I need to and can actually enjoy life and not chase get rich quick schemes. Have fun on the coasts, I'll live cheaper than your car payment and retire early. Lol. Knocking flyover country, grow up dude.
286   richwicks   2020 Dec 3, 4:51pm  

G36 says
yep, I think you are right. I picture him somewhere in flyover country. Unfortunately, dumb hillbillies have internet access too.


Haha. Look, I'm an electrical engineer in Silly Con Valley. Like everybody I make toys and bobbles that nobody really needs but that they want. Some of us work for the intelligence agencies to violate the constitution and shit on the Constitution like Google and Facebook do. They are a bunch of useful idiots.

"Flyover country" as you call it, if they were to go on strike (and I hope they do!) would starve me to death in 6 months if they simply refused to deliver food. You as well. They make essentials. Should, or rather when, they decide to flex their muscles they're going to destroy the two coasts. They are OVERWHELMINGLY the people that compose the military, perhaps the only institution of the country that hasn't gone completely to shit, so don't expect the military to step in to save you, or us rather.

If there is a civil war, it will not be North versus South, it will be fly-over country over Nutzo land, where I live and you as well apparently. Fly-over country will win, easily. They can just simply refuse to deliver food and the war is done. I'm in Commiefornia, but if I get in a car and drive 60 miles East, that's "flyover country" and they won't side with us, I guarantee it. They HATE SF, Los Angeles, and San Jose.

I grew up in a tiny small town in Northern NY. Here's a picture of a beach that is maybe 1/4 mile from my parent's summer home:



I'm from "flyover country". I now live in a an area with a bunch of propagandized dopes. Fools. For now I live here.

People on the coasts think they are "sofistikated" because they drink shitty coffee and buy over-priced crap food and live in a shithole shack that is "worth" 1.5 million dollars. Seriously, a 1.5 million dollar house here is what the POOR live in where I grew up. The people on the coasts are arrogant and interminable when they show up in "fly-over country". What they really are, is arrogant and propagandized. People in "fly-over country" will tolerate their bullshit because they have money, but people in "fly-over country" live a considerably better quality of life than you or I do. I am only here because I'm "highly educated" and to work in my field, I have to be in a metropolis. I can always "downgrade" and I fully expect to do that.

Sillycon Valley sucks. It was interesting and innovative in 2000, we were making the fucking internet back then. We wired the world. That's done. Now what is being done here? This is the next Detroit. Seattle will soon be a shithole. Oregon is run by lunatics. NYC is Deserted, Boston is dead. Massachusetts is bankrupt.

You want to know why we actually had a coup? The coasts are desperate for a bailout. I hope Trump doesn't do it. I hope Trump declares martial law in fact and really does become a dictator because it's pretty obvious that Biden isn't the most popular president EVER in history which he would have to be in order to have been elected. If Trump doesn't retain power, I expect civil war, and I know which side is going to win, it's not us. I'll be on a BUS in that case, low key, traveling across the country and I'll settle in some fly-over place, keep my head low, and keep quiet that I ever worked in Silicon Valley.

Or I might just stay here, and laugh as reality hits these smug assholes in the face. I have to admit, it's tempting just to stay here to see the chaos if we go into civil war. I know how to blend in with the liberal fucks and I can be a hick 2 seconds later. I understand the thinking of both sides, but the hicks are right. They aren't stupid, they are just not as propagandized as liberals are. Not as good with a gun as I used to be, but I'm better than 99.9% of these leftist twats.

Still, I can just go back to the area I grew up. There a beer cost $4 in a bar, an excellent pizza is $15, delivered. A house is $100,000 - a nice house, not a shack, a shack like here, that's $40K. It's awfully tempting to go back, but it's also tempting to see the coming shit-show. I'm going to sit tight, because this is fucking hilarious. It's very funny. I've seen a few people redpilled, I want to see all my arrogant dipshit coworkers get the same treatment. It's very amusing.
287   Bd6r   2020 Dec 3, 5:04pm  

richwicks says
I understand the thinking of both sides, but the hicks are right.

Hicks have tons of common sense, which is severely lacking in coastal populations, who think that food grows in supermarkets and don't understand that one can not eat iphones or computer code.

richwicks says
Or I might just stay here, and laugh as reality hits these smug assholes in the face.


Not a good idea, liberal cities which produce mortgage backed securities or 0 and 1's will starve.

Thanks for interesting personal note @richwiks, I feel very similar about this. I am lucky to be in a State not yet run over by complete idiots, although they are making inroads.
288   richwicks   2020 Dec 3, 5:10pm  

Dbr6 says
richwicks says
Or I might just stay here, and laugh as reality hits these smug assholes in the face.



Not a good idea, liberal cities which produce mortgage backed securities or 0 and 1's will starve.

Thanks for interesting personal note @richwicks, I feel very similar about this. I am lucky to be in a State not yet run over by complete idiots, although they are making inroads.


Oh, I fully understand the risk, I'm just not afraid to die and am fully confident I can survive it. I look like a typical poor person just getting by here. My cousin once complained how I dressed because I almost looked like a homeless person once. I have a strong affinity for the working class so I wanted to live among them. I can't stand the fucks that are in the middle class - at least here.

I am very interested to see the collapse of what is currently considered "liberalism". We are on the verge of civil war more than ever. We were 5 years ago, my mother even speculated upon it, and I lied to her and reassured her, no - we're fine. Once Trump was elected I told her the truth that I agreed with her. The people on the coasts have no idea, no clue, how fucking pissed off "fly-over country" is. No clue, and they control the means of production. They can kill us all, but I'm prepared for that. I was a vegetarian for 25 years, I can live off from beans and rice for 6 months with a few vitamin pills. I can cook without electricity.

I always had a strong affinity "to know". I appreciate, strongly, the difficulty of the lower class. I was not part of the lower class where I grew up, but that was everybody around me as a kid. I was an arrogant fucking intolerable asshole as a kid, but as I aged I realized my parents had coddled me too much and were over-protective. Today I kind of see it the way Chris Hedges does. People I once considered stupid, they were just less propagandized than I was. I see both sides now, and I side with the lower class but they are given a false solution - at least out in Commiefornia.
289   Bitcoin   2020 Dec 3, 7:07pm  

https://www.cnn.com/2020/12/03/investing/bitcoin-ethereum-xrp-cryptocurrencies/index.html

"Low rates and weaker dollar are bullish for all cryptocurrencies"

I never see any hype news about gold or silver. Its all crypto now.
290   richwicks   2020 Dec 3, 7:13pm  

G36 says
I never see any hype news about gold or silver. Its all crypto now.


I love buying hated investments. When the media starts to hype it, get out. Simple. The purpose of the media is only to mislead you, never inform you.
291   Bitcoin   2020 Dec 3, 7:14pm  

richwicks,

"Still, I can just go back to the area I grew up. There a beer cost $4 in a bar, an excellent pizza is $15, delivered. A house is $100,000 - a nice house, not a shack, a shack like here, that's $40K. It's awfully tempting to go back"

You buy a few houses at the West coast, watch them explode in value, sell one of them, retire early, move to flyover country to the hillbillies and live off your nice 401k and rental property income in a mansion. The untalented never make it out to the coast. They remain in flyover country and post their dumb shit online. They could use the internet to educate themselves but sadly, trolling is all they'll ever achieve.
292   Bitcoin   2020 Dec 3, 7:16pm  

richwicks,

I think it will play out like this:

institutional fomo > new all time high > media attention picks up > retail fomo > parabolic run > your uber driver talks about the next shitcoin that makes you rich > institutions selling
293   WookieMan   2020 Dec 3, 7:30pm  

G36 says
You buy a few houses at the West coast, watch them explode in value, sell one of them, retire early, move to flyover country to the hillbillies and live off your nice 401k and rental property income in a mansion.

Or one could make more money in flyover country than they would on the coasts and live substantially cheaper #me. Your assumptions are showing your retardation. I guess that's why you gamble in crypto.... I shouldn't be surprised with your logic.

Given remote learning for the kids, my family will likely be in FL or the USVI during January. The whole month. Not chasing scams. We'll be enjoying life because we live in flyover country. You see, we can enjoy the nice things in life and not deal with east (mainly Northeast) or west coast douche bags. It's a rather nice feeling.
294   Bd6r   2020 Dec 3, 7:37pm  

richwicks says
I can't stand the fucks that are in the middle class - at least here.

That is age-dependent, I think. Older middle class people here (SE TX) are very tolerable, but once you get to 30-40 yr olds, many think they are better than everyone else, which deserves a punch in face. They lack decency (c) Thomas Sowell.
I get along extremely well with local rednecks and their Hispanic versions. If you are not arrogant, they are among the most accepting people in the Universe. And if you show interest in their machine gun collection, you become their best friend...
295   richwicks   2020 Dec 3, 7:39pm  

G36 says
You buy a few houses at the West coast, watch them explode in value, sell one of them, retire early, move to flyover country to the hillbillies and live off your nice 401k and rental property income in a mansion. The untalented never make it out to the coast. They remain in flyover country and post their dumb shit online. They could use the internet to educate themselves but sadly, trolling is all they'll ever achieve.


There's lots of people who just don't want to deal with this shit. Ever live in a mansion? It's a nightmare of upkeep, it's a white elephant.

There's a lot of people from "fly-over country" that can do perfectly fine out here, but it's not for them. It's crowded, it's polluted, people are insane here, food is over-priced, housing sucks - women are horrible. Why would they want to be here?

This is a plantation. Who do you think owns property here? Who do you think you're buying it from? Invariably all the "rich" people I know here are deeply in debt, and depend on a constant income stream. They believe they more debt they are in, the wealthier they are - but interrupt that income stream and they are broke.

This is a game of musical chairs, and when the music ends, there will be no chairs on the coasts. They will all be in "fly-over" country. I am quite interested in the inevitable collapse.
296   Onvacation   2020 Dec 4, 10:19am  

I started this thread to point out the truths about bitcoin. It is clearly a scam with no product or service to offer.

Because the incoming "investments" are consumed, the only way to get your money back out of the system is to find a bigger fool to buy your "coin".

The real question is, will bitcoin first run out of coins or fools ?
297   Bitcoin   2020 Dec 4, 11:15am  

When you sell a pot stock or Amazon stock on the market, you are not selling to a greater fool. You are simply selling to another investor.
Same with Bitcoin. People are looking for digital gold / Gold 2.0. Those gold 2.0 investors are smart investors that seek an inflation hedge.
I am up 35% since beginning of Nov 2020. Try doing this with a checking account, gold or silver. I want to allocate more of my net worth into gold 2.0.
Just like many Billionaires and high worth individuals, hedge funds and Nasdaq listed companies.

https://www.forbes.com/sites/billybambrough/2020/11/12/a-legendary-hedge-fund-billionaire-just-flipped-to-bitcoin-calling-it-better-than-gold/?sh=2c1d167c222f
298   WookieMan   2020 Dec 4, 12:23pm  

G36 says
When you sell a pot stock or Amazon stock on the market, you are not selling to a greater fool. You are simply selling to another investor.
Same with Bitcoin.

No. I know how much of Amazon Jeff Bezos and the board of directors hold in the stock. If they start selling off, they know that something isn't going good. With BTC there is no reasoning. It just moves, just because. No fundamentals.

That's why I laugh when you guys start talking like it's a stock. It's not. The same statistics, math and charting don't work for crypto like they do for stocks. Zero regulation or reporting. 200 people (whales) could be in a BTC club and move the market any way they want. At some point you'll freak out or get too greedy and not sell when you should have.

Hell, it's not even a currency. You guys bounce around from calling it a currency to comparing it to stocks, to calling it digital gold. You don't even know what it is, and that's the laughable part. Pick a lane. In the comment above you compare it to stocks and gold. That's rich. Even though it's a currency. Lol.
299   Bitcoin   2020 Dec 4, 2:15pm  

DF, you got close

Bitcoin is gold. Well, its gold 2.0/digital gold.....much better than physical gold. (see traits of money chart)
Bitcoin is a currency. yep
Bitcoin is tradable like a stock. Well, much better, you can trade it 24/7.
Bitcoin is a store of value and the best thing since sliced bread (institutional fomo..what can be better than institutions driving the price up....fuck ya)
300   WookieMan   2020 Dec 4, 2:37pm  

G36 says
Bitcoin is gold. Well, its gold 2.0/digital gold.....much better than physical gold. (see traits of money chart)

Nope. Nuclear EMP goes off and BTC is done. No one will want it. Some people will take gold and many $$$. Most will want bullets and weapons. Hell, water will be worth more than BTC. This is 100% fact. Or the fact the price plummets and a thunderstorm knocks out your power and cell signal and you have no way to trade it. Doesn't even need to be WWIII.

G36 says
Bitcoin is a currency. yep

Nope. Something has to back a currency for it to have value. Money laundering, sure, I guess that's one thing backing it for now. What happens when there's a new/better way to do that? Institutions are just playing with a yoyo and having fun. You think 10-11 figure institutions care at all about losing low 7-8 figures worst case? Lol. Most of that was borrowed money from the Fed and bottom of the barrel interest rates. You're the pawn. You can't borrow $100M at 0.5% interest rates and gamble with it.

G36 says
Bitcoin is tradable like a stock. Well, much better, you can trade it 24/7.

That's actually awful. Go to bed at midnight and wake up at 6am and your money is all gone because it trades 24/7. Never thought I'd hear/see such a moronic statement. There's a reason markets have an open and close time. Hell, even during market hours trading can be halted. BTC drops 50%, you're fucked. Basically, no, it's not remotely traded like a stock and your positive of 24/7 trading is completely stupid.

G36 says
Bitcoin is a store of value and the best thing since sliced bread

Why? You've yet to answer this. Value has to have some physical form. Be it governments, gold backed, real estate, equipment, etc. BTC doesn't have any of that. It's quite literally a spreadsheet. That is reliant on massive amounts of electricity just to make a simple transaction. No one uses it to pay for goods, which ultimately gets transitioned into the local currency and most likely the dollar anyway. It's stupid.

Trade away. I'd be selling now, but you don't understand six figure gains and the difference between six figure price. So good luck buddy. lol.

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