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Bitcoin Misinformation


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2020 Nov 10, 10:01am   137,504 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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831   WookieMan   2021 Feb 3, 6:51am  

Onvacation says
Success is not a destination you arrive at, it's an altitude you fly at. Money, cars, houses, boats, motorcycles, toys, happiness, are just symptoms of success

I'd say experiences are most important, but agree with the symptoms point you make. I don't want to sit in an over priced shack day after day, in the same place, hoping to get rich or successful all while paying for bloated government that allows shit and needles to fill the gutters in the streets. That sounds like misery to me. I like to explore, show my kids some really cool places and meet awesome people that don't shit in the streets or do hard drugs.

Though we have been subjected to that in CA on trips, so not all experiences are positive. We've got friends all over the country and in the Caribbean and Mexico that we've met on travels. Funny part is not one has ever brought up crypto. While I've done well, I'm personally more happy of my wealth of experiences and what I've shown my kids. Enjoy life, don't worry about numbers... they're holding you back and probably the reason many are where they're at in life, chasing. Someone smarter conned you, you just don't know it yet. Never have regrets. No single place on the planet is that great to piss your life away in or an investment.

Either way, bragging about the price of a spreadsheet and not being able to show the experience of that supposed awesomeness is pretty telling. I've always wished you guys luck as I'm a decent human. But I'll try to back off on these crypto threads as the "shit mutt" (WTF is that anyway). My worry is you'll bankrupt others, but who am I to try and stop you. I can rest my head on my pillow and know I at least tried and I didn't screw others over.
832   Bitcoin   2021 Feb 3, 8:10am  

Onvacation says
G36 says
BSDS

"

That explains a lot.


I know, right?

It fits perfectly. I can picture him shoveling snow in front of his apartment right now.

833   WookieMan   2021 Feb 3, 9:06am  

G36 says
I can picture him shoveling snow shit from in front of mom's apartment right now in Socal.

Couldn't resist. Correction made.

Don't forget the needles and the bloated government you're being fleeced for. I guess I'm not surprised you have to chase get rich quick schemes. 20% is taken off the top before you even start... lol. My returns beat yours before I've even invested a USD.
834   Bitcoin   2021 Feb 3, 9:20am  

G36 says
Onvacation says
G36 says
BSDS

"

That explains a lot.


I know, right?

It fits perfectly. I can picture him shoveling snow in front of his apartment right now.



@WookieMan
Does the HOA not help with the snow shoveling? I can see why that is upsetting.

Bad day for the BSDS.....

Bitcoin at 37k, Ethereum at 1.6K and perfect weather in Socal.

IL:

835   WookieMan   2021 Feb 3, 11:16am  

G36 says
Does the HOA not help with the snow shoveling?

Why in the flying fuck would you rely on an HOA! LOL! Men can take care of their own property. Don't need a group of fags to decide what I do with my property. You keep bringing in great insight to the conversation about yourself. Lol.
836   Bitcoin   2021 Feb 3, 11:41am  

WookieMan says
G36 says
Does the HOA not help with the snow shoveling?

no on HOA!


bummer. So i understand why you are getting so upset about the weather. Sry bud.

837   Onvacation   2021 Feb 3, 11:49am  

So we're clear, Bitcoin is an elaborate Ponzi scheme that requires new money in for old money to get out.
838   Onvacation   2021 Feb 3, 11:49am  

And you can't have gains until you sell.
839   Bitcoin   2021 Feb 3, 12:16pm  

Onvacation says
So we're clear, Bitcoin is

36k,

yep



great buying opportunity!! Ethereum will do great too....it was at 700 in December and has already doubled....its at 1.6k today! Dont miss out on the precious coins.
840   Onvacation   2021 Feb 3, 12:21pm  

Ahh, the smell of Eth...
841   Bitcoin   2021 Feb 3, 12:37pm  

Onvacation says
Ahh, the smell of Eth...

I know. so sweet! Its going to do great things during this bull market....we are in price discovery mode. It jumped from 700 in Dec to 1600 today! I love my Ethereum holdings!
842   Onvacation   2021 Feb 3, 1:03pm  

So G,

Tell us again how crypto is a great store of value?
843   Bitcoin   2021 Feb 3, 1:22pm  

not just a store but a multiplier too.

Ethereum: we are in price discovery mode. It jumped from 700 in Dec to 1600 today! I love my Ethereum holdings!
844   WookieMan   2021 Feb 3, 2:10pm  

G36 says
great buying opportunity!! Ethereum will do great too

Just like last time everyone lost their asses. lol. BTC first and then Ethereum and then a bunch of other made up spreadsheets. Burn out is coming. Good luck.
845   Bitcoin   2021 Feb 3, 2:41pm  

G36 says
WookieMan says
G36 says
Does the HOA not help with the snow shoveling?

no on HOA!


bummer. So i understand why you are getting so upset about the weather. Sry bud.



@WookieMan, have you sold your 100 shares of LUV yet to buy some Ethereum? That will most likely get you a downpayment in IL during this crypto bull run.
846   WookieMan   2021 Feb 3, 3:00pm  

G36 says
have you sold your 100 shares of LUV yet to buy some Ethereum? That will most likely get you a downpayment in IL during this crypto bull run

Nope. Just made $30k in January during a pandemic. Booked trips to FL, CA, USVI and yes WI. Got another 4-6 trips to book and the year should be set.

Lol though, I don't need LUV. Maybe you do. Maybe find a new image as well. I'm not in IL right now.
847   Bitcoin   2021 Feb 3, 3:06pm  

@WookieMan,

how can we help you with BSDS if you wont let us?
I cant make the sun shine for you in IL but I can help you to make smart investment choices.
A first step would be to trade your portfolio of 100 shares of LUV into BTC or ETH. At this point, I would probably advise to ETH as I think it will outperform BTC during the parabolic bull run.

Remember, we are hear to help. Let us help you with BSDS.

848   WookieMan   2021 Feb 3, 3:22pm  

G36 says
A first step would be to trade your portfolio of 100 shares of LUV into BTC or ETH.

Lol, yes my portfolio. You don't get it. Not surprising.
849   Bitcoin   2021 Feb 3, 3:44pm  

WookieMan says
G36 says
A first step would be to trade your portfolio of 100 shares of LUV into BTC or ETH.

yes my portfolio..


yes....sad! But there is hope....convert into ETH and start making some money! It will be enough for a downpayment in IL!
850   WookieMan   2021 Feb 3, 4:06pm  

G36 says
yes....sad! But there is hope....convert into ETH and start making some money! It will be enough for a downpayment in IL!

Or just keep living in the shit hole that CA is. You don't get it. That's why you'll lose.
851   Bitcoin   2021 Feb 3, 4:16pm  

@WookieMan,
how can we help you with BSDS?


We can lead a donkey to the water but we cant make it drink.
852   WookieMan   2021 Feb 3, 5:37pm  

G36 says
We can lead a donkey to the water but we cant make it drink.

Yup. Keep leading donkeys. Takes a ton of intelligence for that. lol. Might want to come up with a better analogy.

You're not dealing with a donkey. You are the donkey. Keep up.
853   Bitcoin   2021 Feb 3, 6:07pm  

Sorry, @WookieMan,

BSDS can lead to anger. Lets try to keep it civil. After all you are a moderator. Please read the rules and leave personal attacks out. We are here to discuss the success of Bitcoin. We dont want to get you banned.

@Patrick
854   Patrick   2021 Feb 3, 6:08pm  

Let's see, can I summarize and understand the conversation?

G36 Has made a bet on crypto and has great hope in that bet to improve his life. It may turn out well or not. He would like others to join him in his bet for maybe two reasons:
1. If they do, his own bet benefits through their bet. Maybe that's kind of a cynical interpretation.
2. If they do, he has more fellow believers in his bet, which provides a pleasant sense of community and confirmation.
To have his bet dismissed as foolish is painful.

WookieMan does not feel the need to make that bet as he does not feel that his life particularly needs improving. He dismisses G36's bet as foolish. G36 reacts to that by looking for possible ways to make WookieMan feel bad in turn, such as pointing out the harsh winters in the Midwest, or the possibility of missing an easy way to make a lot of money.

My own opinion:
- G36 might be right and actually get rich from crypto. Could happen, and it's hard to argue with wealth legally obtained if it does. I would not make that bet myself because I don't understand the value of crypto beyond hiding illicit proceeds from the law, and from taxmen, and being independent of the Fed. Certainly there is some value in those, but I don't know how to put a number on it.
- WookieMan seems to have a fine life, but gets baited into responding to G36's responses, and so it goes on.

Everyone else gets some entertaining conversation and gets to think about the issue from two points of view.

I hope I didn't offend either of you.
855   WookieMan   2021 Feb 3, 6:22pm  

Patrick says
I hope I didn't offend either of you.

You can't offend me. Neither can G36. I'd rather see him wealthy than not. Seriously. I can come across as a dick, but I'd likely buy the guy a beer and give hime shit for the back and forth here.

Crypto is a scheme. His posts are spam. Maybe he doesn't know it. Maybe he does. I can't say for certain. Cash seems to trade and could have made money, but likely has to cover losses on bad bets depending on timing. Either way, take the last 2-3 digits off BTC and it's not all that impressive the last 3-4 years. No one here is holding $50 coins. $36.000 as a valuation just looks impressive. It's the 5'2" guy with a 5" cock that looks like a footlong at the right angle.

Ultimately it's not about me. It's about others that stumble upon this site and think crypto will get them rich (and other sites). The games has 90% been played out at this point. Your odds of winning are almost nothing. It's dangerous. Not bashing Trump, but this is no different than drinking bleach. Trade it if you have the skills, but it's a pure shit investment for 99% of people. This is fact.
856   Bitcoin   2021 Feb 3, 6:22pm  

@Patrick
I believe WookieMan is a fraud/fake. He seeks success in life but continues to fail. None of his comments made any sense, so how can one believe anything coming from WookieMan. At first i believed he is just a troll. But now I believe he has Bitcoin derangement syndrome. WookieMan commented for years on Bitcoin threads but hasnt managed to buy a single Bitcoin yet. The sad thing is, he is a moderator but cannot have a discussion without getting personal. 2021 will be a bad year for him since Bitcoin will continue to increase in value. I bought Bitcoins at 15K in November. One Bitcoin is over 35K now. All the other cryptos I am holding (ETH, ADA, DOT, LINK) increased by several X.

Here are some of his comments:

"It will make its way to $8k at some point, but I was wrong with year end"
"I like to play the bigger numbers" "I bought 100 shares of LUV"
"I dont trade. Its a losers game"
"I'd actually consider trading BTC"
"Fuck no on holding though"
"I dont care about the price of BTC"
"8k by year end"
"its going to land in the 1000-2500 range"
"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.

WookieMan has BSDS and we need to help him.

857   WookieMan   2021 Feb 3, 6:27pm  

G36 says
The sad thing is, he is a moderator but cannot have a discussion without getting personal

Lol, man. I've had plenty of my own comments marked personal in the past. I'm not invincible even though it appears that way. Just stop changing accounts (not just usernames) and people might take you more seriously.

I'm also sure Patrick has logs. In 12 months I've maybe, maybe moderated 10-20 comments. That might be on the high end and including AF's nonsense. Rarely, if ever do I block a comment. That's under 10 times I'm pretty sure over 3-4 years or whatever it's been. Patrick and others bring the hammer down much more than I'm willing to. So yeah, pick your poison.
858   WookieMan   2021 Feb 3, 6:29pm  

I let you shit on me constantly. Is that not proof enough? I could mark almost all your comments personal and wipe them from the site. I don't. So keep mentioning the moderator thing. Not sure what that's doing for ya.
859   Bitcoin   2021 Feb 3, 6:30pm  

WookieMan says
Patrick says
I hope I didn't offend either of you.

offend me.


It doesnt take much to offend him. Simple facts will trigger the shiat out of him...Watch:

Here is a happy Bitcoin at 35k relaxing on a beach in Socal (two things WookieMan doesnt have)


Here is what WookieMan has


Watch what BSDS will do to him...
860   Patrick   2021 Feb 3, 6:40pm  

G36 says
I believe WookieMan is a fraud/fake.


I don't see this. I'm from Illinois myself originally, and he sound like people I know. I used to suspect he was my old boss from when I worked in Chicago, but now I think he's not.
861   WookieMan   2021 Feb 3, 6:44pm  

Come on @Patrick... we know who the troll is here. I've thrown out the olive branch enough. My comments back it up. He's Newbie123 as well. So look up the history (other names as well). I'll play as nice as I can, but not going to ignore stupidity. Comment 858 of recent vintage of my trying to keep the peace. You can't just shit on me though without having some thrown at you. I get the rules, haven't deleted his personal comments, yet he goes on. Spam at that.
862   Bitcoin   2021 Feb 3, 6:47pm  

@Patrick,
interesting. The really wealthy people I know personally are friendly and want others to succeed.
Whenever Bitcoin has a correction, WookieMan is hyped. When Bitcoin recovers and runs up to new all time highs, he gets angry. He doesnt fit the picture of a successful person. He fits the troll-type person that has no success in life and wants others to fail too.
But maybe I am wrong. Why comment thousands of times on a Bitcoin thread and hope for it to fail? Because you are successful in life? Makes no sense to me.
863   WookieMan   2021 Feb 3, 6:58pm  

G36 says
Why comment thousands of times on a Bitcoin thread and hope for it to fail?

Gotta quote something bud. When have I ever said I want it to fail? I've made predictions, almost all with caveats. I've said multiple times I want you guys to make money, just that it's a dangerous game. You're making up pure fiction here dude. You know it too.
864   Bitcoin   2021 Feb 3, 7:05pm  

WookieMan says
G36 says
Why comment thousands of times on a Bitcoin thread and hope for it to fail?

I've made predictions


Yep, the worst ones in the history of Patnet. That must deserve a trophy.
865   WookieMan   2021 Feb 3, 7:07pm  

G36 says
Yep, the worst ones in the history of Patnet. That must deserve a trophy.

Keep going. You keep digging the grave deeper.

There are people that still think the earth is flat. I know what camp you fall into....

Let me know where you're traveling or if you want to meet up. I'll buy you a beer.
866   Bitcoin   2021 Feb 3, 7:10pm  

WookieMan says
G36 says
Why comment thousands of times on a Bitcoin thread and hope for it to fail?

it's dangerous


scaredy cats invest in LUV (not too much though....100 shares!)
The really wealthy people I know personally have play money and invest a few percentages in Bitcoin. Another sign that he is not what he wants to be.
867   EBGuy   2021 Feb 3, 7:12pm  

I'm guessing some version of the Green New Deal pulls the plug on cryptocurrencies.
For example, we determined electricity consumption to be between 60 and 125 TWh per year for Bitcoin. This is in the range of the annual electricity consumption of countries such as Austria (75 GWh) and Norway (125 GWh). However, as cryptocurrencies currently process only few transactions per second, the theoretical limit is typically in the low two- or three-digit range, e.g., approx. 15 for Ethereum and Bitcoin and 100 for Bitcoin Cash. This is primarily determined by the parameters ’average block time’, ’minimum size of transactions’, and ’maximum block size’ (Georgiadis 2019). Accordingly, a single transaction currently requires enough electrical energy to meet the needs of the average size German household for weeks, or even months.
868   WookieMan   2021 Feb 3, 7:12pm  

G36 says
The really wealthy people I have play money and invest a few percentages in Bitcoin.

Wealthy people don't invest in BTC. Just saying. I honestly don't know what to say after that. I guess the "wealthy" people you know are liars? The headlines your read are lies and there's no way for either of us to prove it. One more reason to not invest.
869   Bitcoin   2021 Feb 3, 7:14pm  

WookieMan says
G36 says
Yep, the worst ones in the history of Patnet. That must deserve a trophy.

Keep going.


Okay, what is your prediction for Bitcoin at the end of 2021? Not that I care, but maybe I can add it to the list.
lets hear it :) or are you done with predicting? Hurts too much to be soooo wrong?
870   WookieMan   2021 Feb 3, 7:15pm  

EBGuy says
I'm guessing some version of the Green New Deal pulls the plug on cryptocurrencies.

Possible, but I don't think there will be a green new deal. Maybe some variation, but fossil fuels are here to stay for a while. I don't think electric consumption moves the crypto needle for now. Could long term though.

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