patrick.net

G36 says

dont fomo

Ya got some of that Dogecoin in your portfolio?

Not expecting cogent answers.

G36 says

you are starting to research crypto!

You should too. Do you even have an inkling about blockchain?

Not expecting cogent answers.

Onvacation says

G36 says

dont fomo

Dogecoin in your portfolio?

Start with Bitcoin and buy some of the top ten coins. Ether is a must have too.

A hot tip is Cardano (ADA).
Cardano has entered the Goguen era after its successful implementation of Shelley! Goguen will allow smart contracts on ADA!!

https://roadmap.cardano.org/en/goguen/

What about that iota coin? Do you think it's a bargain at $0.32?

G36 says

Curiosity is the first step. After that comes education!
Pls educate yourself. All the info's are here:

coinbase.com
https://www.binance.us/en/home
paypal.com
robinhood.com

All these sites have tutorials and make it easy for new crypto investors!

I completely forgot to mention these two:

https://www.kraken.com/
https://www.webull.com/

So you have no opinion on iota or dogecoin?

Sry, you must have missed my post.


Start with Bitcoin and buy some of the top ten coins. Ether is a must have too.

A hot tip is Cardano (ADA).
Cardano has entered the Goguen era after its successful implementation of Shelley! Goguen will allow smart contracts on ADA!!

https://roadmap.cardano.org/en/goguen/

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G36 says

"The bottom will fall out"

It will. Just like it did after the 2017 Christmas pump when morons were sold on BTC and then lost their assess over the next few months. Not sure what this contradicts.
G36 says

"It will make its way to $8k at some point, but I was wrong with year end"

No idea why you're quoting this?? By default not a contradiction.
G36 says

"I like to play the bigger numbers" "I bought 100 shares of LUV"

This one is still hysterical. Contradicts nothing at all. It's an assumption on your end that I don't hold more LUV previous purchased or purchased later. lol. Not a contradiction.
G36 says

"I dont trade. Its a losers game"

I don't trade. Not sure what is a contradiction. Unless you're doing it full time, you'll lose. I stand by this statement. Not a contradiction.
G36 says

"I'd actually consider trading BTC"

I would... but I don't trade. Selectively quoting is troll game. Again reading. Not a contradiction.
G36 says

"Fuck no on holding though"

Selective quoting again. I would never hold BTC. You forgot that part. Not a contradiction of anything.
G36 says

"I dont care about the price of BTC"

I don't. Not a contradiction of anything again.
G36 says

"8k by year end"

I was wrong. I don't care about the price of BTC. So again, not a contradiction.
G36 says

"its going to land in the 1000-2500 range"

Long term it will. You know it will too. Not sure what his contradicts.
G36 says

"no x axis"

As with your other quotes being selective, you screen shot a graph and left off the x axis. 100% true and contradicts nothing.
G36 says

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

Those numbers were quoted from you, lol. Talk about contradiction. Only one in this list so far is from you.
G36 says

"Basic index funds have outperformed BTC"

Selective quoted as usual. December 2017 to early/mid December when I made that comment. Oh and you would have gotten dividends to reinvest during that time too. lol.
G36 says

"an unregulated market"

Yes, yes it is. Not sure why this one has been added to your list. This is something I thought we agreed on.
G36 says

"roulette"

Yup. Perfect analogy to crypto. You've placed a bet on black and won for now. We'll see how you do with the next spin of the wheel and lose. I thought most people knew how to play roulette. Pretty basic game.
G36 says

"Nuclear EMP goes off"

Yes???? Let me guess, everyone in the world has a backup generator? lol. WWII was less than 100 years ago. WWI 30 years prior. If you don't think shit can hit the fan, fine. I want physical assets during a time of legit war. No one will want or potentially even be able to trade or acquire goods with crypto in that event. This is one of the dumbest ones you quote that you think is dumb.
G36 says

"Would have sold everything at 18k"

Yup. If I had bought in March 2020 I'd have made a killing. More than you have at this point. Not sure what you're getting at. Holding from $19k USD for three years I imagine is pretty frustrating.
G36 says

"I am good with 9%"

I have $1M+ in liquid assets at the click of a button as I type this. I don't know, I say that good for my age. Better than $45k.
G36 says

"Bitcoin is not backed by anything"

I mispoke. It's backed by a spreadsheet. You got me there. Took long enough.... lol.
G36 says

"artificial scarcity"

We've agreed on this. It's fake. That's what artificial means. When no one cares anymore they won't want it. Beanie Babies, tulips, etc. Actually not really, those are at least have physical properties and not spreadsheets.
G36 says

"I only care about 6 figure gains"

Yup. Again, not sure why you quote this. I'm proud of your $25k gain. You'll eventually get to 6 figures. But I'd diversify, otherwise you won't.
G36 says

"wake up at 6am and your money is all gone"

Mt Gox comes to mind. Dec. 2017 and the following months plunging comes to mind. So again, not sure what you're talking about. 100% true.

Keep quoting my stuff though. I'm in your head and it makes me smile. You're not confident in your standing. I'm am. You know I don't have to post screen shots because I'm confident. That bothers you. Why is that?

G36 says

why dont you explain your contradictions?

You gonna answer some questions now boy?

Crickets... lol.

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G36 says

i dont interact with trolls. Why dont you explain your troll comments?

Do you see any contradiction here?

Onvacation says

Do you see any contradiction here?


He's constantly contradicting himself. He needs to explain his troll comments and contradications before I start interacting with him.

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I'm not going to talk to you any more. Let's have a conversation.

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https://www.marketwatch.com/story/after-recent-price-spike-the-energy-to-produce-bitcoin-could-power-a-country-of-more-than-200-million-people-11609244670?mod=home-page

At 92.8 terawatt hours annualized, bitcoin’s power consumption is slightly ahead of Pakistan’s consumption in 2016, and not wildly away from the Netherlands’ consumption that year. Put a different way, the electricity consumed by minting bitcoin could power all the tea kettles in Britain for 21 years.

Two-thirds of bitcoin production is done out of China. More than half of China’s energy output comes from coal, so the bitcoin production is likely to be particularly dirty.

This crap must be shutdown before burning this planet.

Blue says

Two-thirds of bitcoin production is done out of China. More than half of China’s energy output comes from coal, so the bitcoin production is likely to be particularly dirty.

This crap must be shutdown before burning this planet.

Hard to dispute the environmental effects from such massive electric usage. Whether one wants to believe in global warming or not, coal is nasty either way and is the primary reason China is in a constant haze.

Environment aside, why is China mining 2/3rds of it? I'm sure the CCP has zero money to manipulate the market at all. One of the many reasons to not touch BTC. Can be completely manipulated by the worlds largest countries relatively easy. Decentralized unless you're the CCP mining 2/3rds of coin. People are so easily manipulated. Kind of scary.

WookieMan says
\the worlds largest

yep, Bitcoin is almost bigger than Berkshire Hathaway! So close :)



https://companiesmarketcap.com/assets-by-market-cap/

Hey @G36

Do you want to address the unsustainable nature of bitcoin's power use? Or are you going to just keep mindlessly pumping?

The Last Word on Bitcoin’s Energy Consumption
https://www.coindesk.com/the-last-word-on-bitcoins-energy-consumption

"Let’s start with the basics. Many people, when decrying Bitcoin’s energy footprint, point out its energy consumption and presume that someone, somewhere is being deprived of electricity because of this rapacious asset. Not only is this not the case, but Bitcoin’s presence in many jurisdictions doesn’t affect the price of energy at all because the energy there isn’t actually being used. How could this be?"

"The first thing to understand is that energy is not globally fungible. Electricity decays as it leaves its point of origin; it’s expensive to transport. Globally, about 8 percent of electricity is lost in transit. Even high-voltage transmission lines suffer “line losses,” making it impractical to transport electricity over very long distances. This is why we talk about an energy grid — you have to produce it virtually everywhere, especially near to population centers."

"Ultimately it’s just a matter of opinion as to whether the existence of a non-state, synthetic monetary commodity is a good idea. The truth is that blockspace is a service which is paid for, and that’s where its resource cost is derived. Something duly purchased cannot, by definition, be a waste. Its buyer derives benefit from its existence, regardless of anyone else’s subjective opinion of the merit of the transaction."

Onvacation says

Or are you going to just keep mindlessly pumping?

Why even ask anymore? You know he doesn't have an answer. Dozens of questions and points have been made here and nothing. Crickets besides the same dumb ass charts over and over again.

Multiple people have come into these threads over the last 2 months and we're all met with the same BS responses. Won't even address what I just brought up with why is China doing so much mining. The have slave labor to building mining farms/computers and if it's run by the CCP, they don't have to pay electric. They just take it from their citizens. When China is doing 2/3rds of the mining or anything that should be very alarming to anyone, even if not invested in crypto.

3 countries host over 50% of the world’s Bitcoin nodes
https://thenextweb.com/hardfork/2019/02/27/3-countries-50-perecent-bitcoin-network/
The US leads the pack with over 2,625 nodes, followed by Germany and France with 2016 and 698 respectively.
Incredibly, these three countries are responsible for over 50 percent of all operational Bitcoin nodes.

Cash says

Ultimately it’s just a matter of opinion as to whether the existence of a non-state, synthetic monetary commodity is a good idea.

OK.

It's my opinion that bitcoin is a ponzi scheme where all the incoming money goes to the miners and the only way to get your money out is to find someone to buy your coin; the greater fool theory.

Tell me why I am wrong?

You idiots dont have a sincere bone in your bodies you are trolls with a capital T and I will bet in reality most all reasonable ppl on this forum see it for themselves.
I'll let price poo all over your asshole opinions;) You and woodie will be saying the same thing no matter how high the price of Crypto goes....
At the same time everyone on the forum will see what fools you have made of yourselves because you really know nothing about the subject
except what you pull out of your asses for years chew and spit out ...

Cash says

You and woodie will be saying the same thing no matter how high the price of Crypto goes....
At the same time everyone on the forum will see what fools you have made of yourselves because you really know nothing about the subject
except what you pull out of your asses for years chew and spit out ...

So what about the sustainability thing?

How can you get money out when the money is consumed without finding a bigger fool?

Not expecting cogent answers.

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Cash says

I'll let price poo all over your asshole opinions

A little defensive, aren't we?

When someone can't argue the facts they go for the personal attack.

Cash says

3 countries host over 50% of the world’s Bitcoin nodes
https://thenextweb.com/hardfork/2019/02/27/3-countries-50-perecent-bitcoin-network/
The US leads the pack with over 2,625 nodes, followed by Germany and France with 2016 and 698 respectively.
Incredibly, these three countries are responsible for over 50 percent of all operational Bitcoin nodes.

Nice!! Thanks for sharing @Cash

G36 says

Every time the price goes up they are kicking themselves for not getting in...

I missed out on beanie babies too.

Are either of you two crypto fanatics going to address the sustainability questions?

Onvacation says

Cash says

Ultimately it’s just a matter of opinion as to whether the existence of a non-state, synthetic monetary commodity is a good idea.

OK.

It's my opinion that bitcoin is a ponzi scheme where all the incoming money goes to the miners and the only way to get your money out is to find someone to buy your coin; the greater fool theory.

Tell me why I am wrong?

It may or may not be energy efficient to mine it and it may or may not get worse, but people have been mining gold since forever no matter whether the current price justified the time, energy and money to put into mining it. It has intrinsic value as a decentralized form of payment, potentially anonymous and tamper-proof. Yes there are also quite a few drawbacks, but since it has intrinsic value and is limited in supply I don't see how it can be a ponzi scheme. It may well drop from whatever high it will reach and not recover but by then plenty of early adopters will have made plenty of money and those arriving late will be the bagholders, how is this different from investing in any other asset? I really never see it going worthless again let alone drop below 5k though anything is possible. I also don't buy any of those lofty targets of hundreds of 1000s, obviously these promoting firms have a vested self interest to pump it once they jumped in. I can see a range anywhere between $5k-$100k for the short to mid-term (1-2 years), long term who knows.