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Bitcoin Misinformation


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2020 Nov 10, 10:01am   136,012 views  2,177 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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335   Onvacation   2020 Dec 9, 10:04am  

G36 says
If you buy a stock

Is bitcoin like a stock or a currency?
336   WookieMan   2020 Dec 9, 10:06am  

G36 says
Since we have mass adoption now

Lol. Half of Americans are a paycheck away from going BK and have no savings at all. 1/2 the worlds population still lives at 2nd and 3rd world levels. Many have sketchy electric and water supplies. Mass adoption? Lol. Do you think when you type? Never mind, we all know the answer.

This is what happened under your other account. Surprised you haven’t ignored me like last time after calling out your BS.
337   WookieMan   2020 Dec 9, 10:10am  

G36 says
If you buy a stock you depend on other bidders in order to move the price.

While partially true, your statement is mostly false. You invest in companies because they produce something that people want and can use. These companies also have physical assets like real estate that add to that value. They also report revenue, profits, losses and a variety of other metrics so you understand what you've invested in.

Straight yes or no answer. Does BTC check any of those boxes besides people wanting to own it because of FOMO? You know the answer and I don't expect one from you.
338   Bitcoin   2020 Dec 9, 10:10am  

Its better than a stock. Bitcoin can be traded 24/7.

Its much better than a traditional fiat currency. Bitcoin is scarce and decentralized.

Its much, much better than Gold. Bitcoin is digital gold. Gold 2.0. Bitcoin is highly divisible and can easily be transacted. Try to ship a gold brick overseas. With Bitcoin, it takes seconds. Also, Gold can be faked. Bitcoin cannot be faked.
339   Bitcoin   2020 Dec 9, 10:13am  

Heeey DF,

I havent updated the list yet. Here the refresh:

"Wait, wait, wait. I thought it was 9,000,000%. Is it 17,918.98% or 9,000,000%?"

"Basic index funds have outperformed BTC"
>>>>REALLY? missed the fact that its up by 9,000,000%? Not a surprise, DF.
"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.
340   WookieMan   2020 Dec 9, 10:17am  

G36 says
"Basic index funds have outperformed BTC"

Refute this. Just do it. My statement was from Dec 2017 till the price I quoted for BTC yesterday roughly, was that your typical index funds out performed BTC. Just refute it. Should be super easy for you. You won't. You've had dead money for 3 years. Congrats. I made money.
341   Onvacation   2020 Dec 9, 10:26am  

G36 says
When you buy silver coins and you hope for an appreciation, you depend on other people buying useless silver coins.

Aesthetics. I collect coins because I enjoy coin collecting. It's a hobby. Though some of my numismatic collection has appreciated a lot that is not why I bought them. My heirs will probably sell them for less than they are worth to me.

What makes you say silver is worthless?
342   WookieMan   2020 Dec 9, 10:32am  

Onvacation says
What makes you say silver is worthless?

I'd say jealousy? It's a nasty trait, but very easy to pick out when someone has it. There's also the fact that people that get rich quick, like lucky stock investments or lotto winners usually are fucking awful with money and lose it all anyway. So what's the point? They couldn't figure out how to make money without luck and then squander it when they get it. It's a morons game, which I think you know, though the jealous types are oblivious to their own shortcomings. Kind of sad and funny.
343   Onvacation   2020 Dec 9, 10:43am  

WookieMan says
Kind of sad and funny.

or pathetic.
344   Bitcoin   2020 Dec 9, 10:47am  

WookieMan says
G36 says
"Basic index funds have outperformed BTC"

your typical index funds out performed BTC.


Heey DF, we are still waiting for your screenshot of your investment to show you outperformed BTC. we will waaaaait a looooong time :)
345   Bitcoin   2020 Dec 9, 10:48am  

Onvacation says
G36 says
When you buy silver coins and you hope for an appreciation, you depend on other people buying useless silver coins.

My heirs will probably sell them for less .



I dont doubt it. Gold is being replaced by digital gold. Same with your landline. At some point you should own a smart phone.
346   WookieMan   2020 Dec 9, 10:56am  

G36 says
WookieMan says
G36 says
"Basic index funds have outperformed BTC"

your typical index funds out performed BTC.


Heey DF, we are still waiting for your screenshot of your investment to show you outperformed BTC. we will waaaaait a looooong time :)

I don't dox myself and I'm not a coward and fake screen shots. No need to know what company(ies) I use publicly on an internet forum. Good try, I'm not a moron though. I've done 6 figures better than your fake screen shot though, so I'm good, lol.

Pick any index fund from December 2017 until today. I beat BTC. Even if I wasn't invested in it. You haven't and won't do this. I've asked simple yes or no questions and you still don't answer. Because you know you're wrong.
347   Bitcoin   2020 Dec 9, 10:58am  

Yep, DF, as expected no screenshot. Of course not :) you cant possible have beaten Bitcoins performance. You are DF, remember?
348   WookieMan   2020 Dec 9, 11:30am  

G36 says
you cant possible have beaten Bitcoins performance.

I have, and I know I've beat your performance. It's easy to spot when all you do is pump. Insecurity and jealousy are easily spottable traits. Give me my 7th ignore Newb.... errr. G36.

Go ahead and take every stock from IPO to today. BTC isn't special. Or here's a nifty trick for you, invest in something before it goes public. You can't do that though because you don't have the money. Hence my 6 figure comment. Enjoy $10-20k in gains from your fake screen shot. lol. I'll enjoy being semi-retired at 37. lol.
349   Bitcoin   2020 Dec 9, 12:06pm  

WookieMan says
G36 says
you cant possible have beaten Bitcoins performance.

I have


Oh really, why dont you show us your screenshot on how you beat 17,819% since 2014?


If you could do that, people would invest in you. Instead, they call you DF.
350   Onvacation   2020 Dec 9, 1:33pm  

G36 says
they call you DF.

Who they?

Oh, did I mis-gender you?
351   Bitcoin   2020 Dec 9, 1:39pm  

Everyone with a brain. DF seem to not have one. He provides evidence against his laughable statements. lol.
Claims he beat Bitcoins performance and provides a screenshot that proves the opposite.

Every blog/forum needs a DF!
352   WookieMan   2020 Dec 9, 3:00pm  

G36 says
Everyone with a brain. DF seem to not have one.

lol. Brain spell like cave man.

Dec. 2017 to today. Answer the fucking question. Yes or no. Did the S&P outperform (with likely dividends based on the fund) BTC? Yes or no? Use the brain. Seem....lol like you don't have one.
353   Bitcoin   2020 Dec 9, 6:22pm  

Heeey DF!

check this out. These are the profitable days holding Bitcoin.

https://www.lookintobitcoin.com/charts/bitcoin-profitable-days/



% profitable days holding Bitcoin: 99.5%

If you would have bought Bitcoin in 2014 and held until now you would have made >17,000%.

And you DF talk about Sp500 performance. lol f.ing lol, you must be the dumbest DF.

354   Onvacation   2020 Dec 10, 6:48am  

G36 says
And you DF talk about Sp500 performance. lol f.ing lol, you must be the dumbest DF.

He's not the one who thinks bitcoin is better than gold.
355   Bitcoin   2020 Dec 10, 9:57am  

Onvacation says
G36 says
And you DF talk about Sp500 performance. lol f.ing lol, you must be the dumbest DF.

He's not the one who thinks bitcoin is better than gold.


yep, exactly. He also thinks he can outperform Bitcoin. He hasnt shown a single screenshot of any of his investments. Judging by all the crap he has posted, I am convinced its all BS and stupidity. Hence the name DF.
356   WookieMan   2020 Dec 10, 10:22am  

G36 says
He hasnt shown a single screenshot of any of his investments.

I'm not a moron. I don't dox myself. I'll give rough location of where I live in an 11M population metro area, but that's about it. You on the other hand just posted a fake, pixilated image of your "investment" which is pure shit. It's okay to realize there are smarter people than you. Half the country has zero savings of any significance, let alone anything to put into crypto. You wouldn't be here if you had gambling money that only 2-3% of people even mess with in the world. You invested $500 and think you're king shit of fuck mountain because you made a grand or two. lol.

The fun part is I can do this all day, every day. You likely have to bag groceries, so you have to take a break from Patnet to fund your huge "investment" gold 2.0. You completely dodge questions. You're the definition of a troll. I'll ask again (not sure why), did the S&P 500 outperform BTC from December 2017 to today? Yes or no.

Next question which I know you'll chicken shit out of and post the same list. Was BTC dead money from December 2017 to today if you held?
357   Bitcoin   2020 Dec 10, 11:06am  

WookieMan says
G36 says
He hasnt shown a single screenshot of any of his investments.

I'm not a moron.


Well.....I kinda disagree on this. You earned your name DF!

"Wait, wait, wait. I thought it was 9,000,000%. Is it 17,918.98% or 9,000,000%?"
"Basic index funds have outperformed BTC"
>>>>REALLY? missed the fact that its up by 9,000,000%? Not a surprise, DF.
"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.
358   Onvacation   2020 Dec 10, 12:20pm  

BUY MORE BITCOIN!

the miners need to feed their families! and pay for hookers and blow. But don't worry your investment is as good as gold. You can get your money back and an enormous profit because all of the banks and stuff are now putting their money into it. You can make 1000's of percent profit!

Bitcoin miners go into selling spree while BTC price is held by weak support.
https://www.fxstreet.com/cryptocurrencies/news/bitcoin-miners-go-into-selling-spree-while-btc-price-is-held-by-weak-resistance-202012101905

Just know what you are buying
359   WookieMan   2020 Dec 10, 12:36pm  

Onvacation says
Just know what you are buying

I think Cash does, as he's posted bearish articles and seems aware of the pitfalls. Others.... I'm surprised they're able to breath.
360   Bitcoin   2020 Dec 10, 12:58pm  

Onvacation says


Just know what you are buying

yep, Digital gold / gold 2.0
361   WookieMan   2020 Dec 10, 2:17pm  

WookieMan says
I'm surprised they're able to breath.

I guess dip shits do. lol. Was hoping the beating being delivered would have to stop at some point. I'll keep going though.
362   Bitcoin   2020 Dec 10, 2:41pm  

now DF starts commenting on his own posts. He truly is the biggest DF.
363   WookieMan   2020 Dec 10, 3:35pm  

G36 says
Onvacation says


Just know what you are buying

yep, Digital gold / gold 2.0

Can't even quote right.

G36 says
commenting on his own posts.

Lol, not my post. Jesus....
364   Bitcoin   2020 Dec 10, 3:40pm  

We got one more fuckin dumb comment

"no x axis"......DF is too dumb to open up the source thats listed on the chart. He's too fuckin dumb to get that the x axis is time in years. no shit!
"Wait, wait, wait. I thought it was 9,000,000%. Is it 17,918.98% or 9,000,000%?"
"Basic index funds have outperformed BTC"
>>>>REALLY? missed the fact that its up by 9,000,000%? Not a surprise, DF.
"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.
365   WookieMan   2020 Dec 10, 3:46pm  

G36 says
We got one more fuckin dumb comment

Lol. At least you're finally realizing it. Takes courage to admit stupidity. Didn't think you had it in you. Maybe there is hope for you.
366   WookieMan   2020 Dec 10, 3:49pm  

G36 says
"no x axis"

In all seriousness brilliant one, please explain to me how the comment was wrong? You present a graph that a retard could have screen grabbed better. Take the lazy route and say "look up the source." How about just fucking screen shot it like a normal functioning human.
367   Bitcoin   2020 Dec 10, 3:49pm  

we wont run out of fuckin stupid comments from DF. the list will grow, for sure!
368   WookieMan   2020 Dec 10, 3:52pm  

G36 says
we wont run of fuckin stupid comments. the list will grow, for sure!

Huh? "We won't run of"

What the hell does that mean? It's more evident with every post you cannot read and now write. Or is it right? Lol. There's a G in fucking, but I know you wouldn't know that because you don't get any.
369   Bitcoin   2020 Dec 10, 4:00pm  

now he seems to have lost it completely. Maybe time for beddy bye, DF?
370   WookieMan   2020 Dec 10, 4:05pm  

G36 says
now he seems to have lost it completely. Maybe time for beddy bye, DF?

Gotcha. Lol. Nice edit. It's kind of cute that you care that much. But considering you don't get any fuckinG, maybe it's sad.
371   Bitcoin   2020 Dec 10, 5:34pm  

yep, DF lost it :) it only took me a few posts to get him so riled up :)

enjoy

"no x axis"......DF is too dumb to open up the source thats listed on the chart. I guess he really is too fuckin dumb to get that the x axis is the timeline.
"Wait, wait, wait. I thought it was 9,000,000%. Is it 17,918.98% or 9,000,000%?"
"Basic index funds have outperformed BTC"
>>>>REALLY? missed the fact that its up by 9,000,000%? Not a surprise, DF.
"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.
372   Onvacation   2020 Dec 10, 9:17pm  

CURRENCY CHOICE OF NIGERIAN PRINCES!
373   WookieMan   2020 Dec 11, 1:52am  

G36 says
lost it :) it only took me a few posts to get him so riled up

Riled up? You fucked up and made an edit after being called out. By default users that do that shouldn't be trusted with anything they post because it is assumed they'll change it after being wrong. Which you are frequently.

Of current active users you now hold the dubious distinction of being the most dishonest. You sit here spouting off god awful financial advice that you clearly know anything about. You are a danger to other people that come to this site and I'll continue to call you out for it. Like I said, I can do this all day while we have rona around and I'm not traveling for fun.

I do need a break sometimes to spend some of my money. Can't take it to the grave, so might as well use it and enjoy my stress free life not having to worry about shady investments. As I've said before, jealousy is not a good look for you.
374   Onvacation   2020 Dec 11, 6:50am  

WookieMan says

I do need a break sometimes to spend some of my money. Can't take it to the grave, so might as well use it and enjoy my stress free life not having to worry about shady investments

Some bitcoiners know it's a scam and hope to capitalize on the FOMO and are attempting to time the greater fool..

Other bitcoiners are convinced they holding "digital gold" and will HODL long after the scam essentially crashes.

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