patrick.net

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.

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.

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.

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.

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

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.

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...

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.

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 ?

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

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.

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)

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.

Awesome, some additions to DF's list

"Nuclear EMP goes off"

"Would have sold everything at 18k"
"I am good with 9%"
"Bitcoin is not backed by anything"
"artificial scarcity"
"I only care about 6 figure gains"

"wake up at 6am and your money is all gone"
REALLY? missed the fact that its up by 9,000,000%? Not a surprise, DF.

>>> https://www.bloomberg.com/news/articles/2019-12-31/bitcoin-s-9-000-000-rise-this-decade-leaves-the-skeptics-aghast

G36 says

Bitcoin is gold. Well, its gold 2.0/digital gold.....much better than physical gold

Try telling that to your wife.

Still not buying that shit.

G36 says

Awesome, some additions to DF's list

"Nuclear EMP goes off"

"Would have sold everything at 18k"
"I am good with 9%"
"Bitcoin is not backed by anything"
"artificial scarcity"
"I only care about 6 figure gains"

"wake up at 6am and your money is all gone"
REALLY? missed the fact that its up by 9,000,000%? Not a surprise, DF.

>>> https://www.bloomberg.com/news/articles/2019-12-31/bitcoin-s-9-000-000-rise-this-decade-leaves-the-skeptics-aghast

Cute. As usual no answer.

G36 says

Bitcoin is gold. Well, its gold 2.0/digital gold.....much better than physical gold. (see traits of money char

G36 says

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

both you and the chart have this fact wrong. bitcoin is literally NOT a store of wealth.

i do think its a nice hedge, btw, but at least understand what it is and what it isnt.

Onvacation says

G36 says

Bitcoin is gold. Well, its gold 2.0/digital gold.....much better than physical gold

Try telling that to your wife.

She owns Bitcoin too. Like you. Smart woman!

CBOEtrader says

G36 says

Bitcoin is gold. Well, its gold 2.0/digital gold.....much better than physical gold. (see traits of money char

G36 says

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

both you and the chart have this fact wrong. bitcoin is literally NOT a store of wealth.

i do think its a nice hedge, btw, but at least understand what it is and what it isnt.

Its digital gold. Basically gold, but better.

WookieMan says

G36 says

Awesome, some additions to DF's list

"Nuclear EMP goes off"

"Would have sold everything at 18k"
"I am good with 9%"
"Bitcoin is not backed by anything"
"artificial scarcity"
"I only care about 6 figure gains"

"wake up at 6am and your money is all gone"
REALLY? missed the fact that its up by 9,000,000%? Not a surprise, DF.

>>> https://www.bloomberg.com/news/articles/2019-12-31/bitcoin-s-9-000-000-rise-this-decade-leaves-the-skeptics-aghast

Cute. .

not cute. True. Please write more BS, dumb-F. I want to add to the list!

G36 says

Its digital gold. Basically gold, but better.

You literally have someone that somewhat agrees with your position and you're still a trolly cunt. You behave like a petulant child that is worried they're about to lose their toy or something. You seem very insecure.

WookieMan says

G36 says

Its digital gold. Basically gold, but better.

You literally have someone that somewhat agrees with your position and you're still a trolly cunt. You behave like a petulant child that is worried they're about to lose their toy or something. You seem very insecure.

nope, you still dont get it. You are DF, remember?
Thats why we spell it out for you a few times>>>>Bitcoin is digital gold. Or Gold 2.0.

Dont worry, we will keep repeating it for you.

I can't believe that someone would pay almost 20 grand for one bitcoin in the hope that someone else will pay more.

That's it. That is the basic strategy of crypto people.

"I cant believe" hahahaa i cant wait for 2021....you are in disbelief now.......just wait!

20 grand loooool
wait until investors buy in at 250 grand.

20 grand is just a (tiny) blip on the chart soon.

https://www.bloomberg.com/news/articles/2020-12-07/microstrategy-to-raise-400-million-to-buy-even-more-bitcoin

Nasdaq listed company is raising 400M to buy MORE Bitcoin. Just one of many, many hedge funds, nasdaq listed companies, billionaires and banks!

G36 says

Nasdaq listed company is raising 400M to buy MORE Bitcoin. Just one of many, many hedge funds, nasdaq listed companies, billionaires and banks!

The assumption they'll buy into a rising BTC price is cute. Just because an entity or person says they're going to buy BTC, doesn't mean they'll do it when it's favorable to you. That's the whole point of what you're missing with an unregulated market. You'll be the last to know and by the time you find out it will be too late. You can't move markets, they'll move you because you don't have the cash. Potentially could be positive, but with no backing physical asset of any kind, it's highly likely the outcome will be negative.

Billionaires and NASDAQ corps are playing with money they can lose. You're not. You're better off throwing $20k on black at the roulette table. You win 10 times in a row with reinvested winnings and you're a millionaire in 20 minutes. But hey bitcoin, lol.

Thanks DF!

two more for the list.

"an unregulated market"
"roulette"
"Nuclear EMP goes off"
"Would have sold everything at 18k"
"I am good with 9%"
"Bitcoin is not backed by anything"
"artificial scarcity"
"I only care about 6 figure gains"
"wake up at 6am and your money is all gone"
REALLY? missed the fact that its up by 9,000,000%? Not a surprise, DF.

>>> https://www.bloomberg.com/news/articles/2019-12-31/bitcoin-s-9-000-000-rise-this-decade-leaves-the-skeptics-aghast

G36 says

Nasdaq listed company is raising 400M to buy MORE Bitcoin.

I thought they weren't making any more?

G36 says

Thanks DF!

two more for the list.

"an unregulated market"
"roulette"
"Nuclear EMP goes off"
"Would have sold everything at 18k"
"I am good with 9%"
"Bitcoin is not backed by anything"
"artificial scarcity"
"I only care about 6 figure gains"
"wake up at 6am and your money is all gone"
REALLY? missed the fact that its up by 9,000,000%? Not a surprise, DF.

>>> https://www.bloomberg.com/news/articles/2019-12-31/bitcoin-s-9-000-000-rise-this-decade-leaves-the-skeptics-aghast

The funny part is you don't refute any of this. Just make a list and pretend that you one upped someone when you did nothing in reality.

Can't wait for the new username after your last one showed your ass being wrong. You can't hide from being wrong so many times.

Still not buying any of that shit.

WookieMan says

G36 says

Thanks DF!

two more for the list.

"an unregulated market"
"roulette"
"Nuclear EMP goes off"
"Would have sold everything at 18k"
"I am good with 9%"
"Bitcoin is not backed by anything"
"artificial scarcity"
"I only care about 6 figure gains"
"wake up at 6am and your money is all gone"
REALLY? missed the fact that its up by 9,000,000%? Not a surprise, DF.

>>> https://www.bloomberg.com/news/articles/2019-12-31/bitcoin-s-9-000-000-rise-this-decade-leaves-the-skeptics-aghast

don't refute any of this

That's the best part. DF really is too dumb to get any of it.

WookieMan says

The funny part is you don't refute any of this.

Lol. Keep adding to a list that you still refuse to argue even one point. Keep up with the ad hom though or just post a useless chart. You responses are indicative of your intelligence on the topic. If you were making bank on crypto you wouldn't be on this forum. You'd be traveling the world. Maybe starting a business. Hell, maybe doing something beside being butt hurt about facts.

WookieMan says

WookieMan says

Keep adding to a list

Of course DF. Just waiting for the next stupid thing you say. Regardless, you earned your name already!

"an unregulated market"
"roulette"
"Nuclear EMP goes off"
"Would have sold everything at 18k"
"I am good with 9%"
"Bitcoin is not backed by anything"
"artificial scarcity"
"I only care about 6 figure gains"
"wake up at 6am and your money is all gone"
>>>>REALLY? missed the fact that its up by 9,000,000%? Not a surprise, DF.

G36 says

Of course DF

So how long have you been part of the bitcoin scam?

Onvacation says

G36 says

Of course DF

So how long have you been part of the bitcoin scam?

You bought Bitcoin (satoshis) because you believe in it now, right? Why would you call digital gold such a thing?

I figured I could gamble a penny on 11 Satoshis. I will sell them to you for a nickel?

like I said, I'm a nickel slot kind of guy. In the casino I always know who the fool is. But I have got lucky.

I take credit for you finally buying into Bitcoin. It was my education and chart, right?

G36 says

I take credit for you finally buying into Bitcoin. It was my education and chart, right?

Found a penny.

I am stoked you bought Bitcoin - finally. It shows, even the most ignorant can learn. Which exchange did you use to purchase it or was it OTC?