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Bitcoin Misinformation


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2020 Nov 10, 10:01am   137,695 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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903   Bitcoin   2021 Feb 4, 9:54am  

and people who live in IL and dont own an umbrella are strange too....I would send sissy an umbrella but she's afraid of doxing. If sissy had a crypto wallet, i could send her some satoshis but she doesnt have that either....

no sun but rain, but no umbrella
no bitcoin but 100 shares of LUV

yikes.

I guess the brown bag must do the job
904   Onvacation   2021 Feb 4, 9:55am  

porkchopexpress says
You can't make more Bitcoin, but central banks can print unlimited fiat.

Bitcoin is valued in fiat and is worth what the next greatest fool will pay for it.

Maybe you can answer what others have ignored:

How can crypto be a store of value if all incoming money is consumed by the " miners"?
905   Onvacation   2021 Feb 4, 9:56am  

If no answer you have to admit that bitcoin is dependent on the next greatest fool to have any value.
906   Bitcoin   2021 Feb 4, 10:01am  

Onvacation says
porkchopexpress says
You can't make more Bitcoin, but central banks can print unlimited fiat.



How can crypto be a store of value if all incoming money is consumed by the " miners"?


@Patrick / @Onvacation

OV, I think Patrick just shared he got BTC at a few bucks in 2016. Its now at 378 dollars! What a great store of value! Bitcoin is the best performing asset.
He didnt have to pump it....it just increased in value due to high demand.
907   WookieMan   2021 Feb 4, 10:23am  

G36 says
no sun but rain, but no umbrella

It's snowing... You're idiotically obtuse at this point. Don't expect you to understand what that means. Let me know when an umbrella is needed when it snows. Another tell tale sign that you're spam. Big time.
908   Bitcoin   2021 Feb 4, 10:27am  

yep, snow, rain, storms.....and COLD.

if the budget doesnt entail an umbrella at this point. let us know. Happy to start a go-fund-me for sissy.

909   Onvacation   2021 Feb 4, 10:36am  

OH YEAH! WELL I HAVE A BIG DICK AND CAN TYPE IN ALL CAPS!
910   porkchopXpress   2021 Feb 4, 10:42am  

WookieMan says
porkchopexpress says
You can't make more Bitcoin, but central banks can print unlimited fiat.

And weapons and ammo and armies. Don't you find it funny that governments let crypto just go? If you have gains, they just tax it. If you lose, they don't care either. It's no threat to a government that can wipe you out in the blink of an eye. We've seen in happen with a fucking virus that can kill people over an election. Crypto is an easier target.

There will be no digital currency/money that overcomes the worlds super powers, unless they create it. This is fact. They will be worthless at some point. There's no mass adoption of any of the crypto out there. It's a trading tool to fleece people. I frankly don't understand why it's even a conversation at this point. It's obvious.

You're also using all the keywords the crypto bugs want you to use. You don't have to like what I'm sa...
I understand that you like traditional investments and you've done well there. Stick with what you know and can feel. I totally get it. However, if you think that technology and digital isn't the way of the future, I believe you're sorely mistaken. Does that mean you'll be unhappy if you don't invest in crypto? Of course not. But don't act like it has a pointless future when you know nothing about it.

And to your point about crypto not earning interest, that's false. You can stake assets now and lend out crypto at rates MUCH higher than what's achieved with typical money.
911   WookieMan   2021 Feb 4, 10:47am  

G36 says
and COLD

G36 says
Happy to start a go-fund-me for sissy.

Likewise. I don't even have to comment anymore with you. You make fun of yourself. lol. Projecting from China or shit hole Russia. God forbid you can't handle a little cold..... brrrrrrrrrr. Momma's gonna make you some hot chocolate. Maybe rub some Vics vapor rub on your chest and cock. OOOOOOooooooo. Incest.

You don't have the game. It's okay. You're in a death spiral at this point. Keep it up though. The nightly shows suck now, so need to get my comedic relief here. Thank you. You're welcome.
912   Onvacation   2021 Feb 4, 10:49am  

Back to the topic.

Bitcoin has caused many innovations in computing and mathematics. Blockchain is a valuable new tool and the monetary incentive of all the different crypto currencies has created a lot of new technology; data centers cooled in frigid climes powered by geothermal energy for instance.

But it's not digital gold. Crypto as it is it is a rollercoaster of value that you can gamble on or a slow ride to the moon for the HODL'ers. Betting for asymptotes and thinking you will get off before the crash is a fool's game.

I do hear that bitcoin is useful for transferring money to criminals for ransom and stuff.
913   Bitcoin   2021 Feb 4, 10:53am  

"But don't act like it has a pointless future when you know nothing about it."
Exactly.

not only does he not know anything about it, he is obsessed with anything crypto. the word/picture Bitcoin alone triggers the shiat out of him..

he gets triggered by Bitcoin and Sunshine...two things he wont ever have access to.



This is a picture of a happy Bitcoin at a beautiful SoCal beach. Currently valued at over 35k :)
a stock of LUV is valued at 48 dollars. LOL
914   porkchopXpress   2021 Feb 4, 10:59am  

I hope I didn't come off as a dick...I'm just being blunt with how I feel. Crypto isn't for everyone and that's ok...I just happen to think it's only going to explode over time merely because of how it's designed.
915   Bitcoin   2021 Feb 4, 11:00am  

its actually a combination of being scared shitless and triggered. BSDS has strong symptoms.

916   Bitcoin   2021 Feb 4, 11:07am  

porkchopexpress says
I hope I didn't come off as a dick...I'm just being blunt with how I feel. Crypto isn't for everyone and that's ok...I just happen to think it's only going to explode over time merely because of how it's designed.


nah, you are not a dick. Thats the right language for sissy.
917   WookieMan   2021 Feb 4, 11:30am  

G36 says
he gets triggered by Bitcoin

You've posted 3 unanswered comments that are the exact same as every single one of your spam comments. Do you understand what triggered is?
918   Onvacation   2021 Feb 4, 11:36am  

porkchopexpress says
I understand that you like traditional investments and you've done well there. Stick with what you know and can feel. I totally get it. However, if you think that technology and digital isn't the way of the future, I believe you're sorely mistaken. Does that mean you'll be unhappy if you don't invest in crypto? Of course not. But don't act like it has a pointless future when you know nothing about it.

@porkchopexpress

Are you a trader or a HODL'er?

Would you agree that crypto is extremely speculative?
919   Onvacation   2021 Feb 4, 11:44am  

porkchopexpress says
it's only going to explode over time merely because of how it's designed.

Agreed.

It was designed with phrases like, "bitcoin mine" instead of server farm, "miner" instead of computer technician, "coin" instead of bits, and "wallet" rather than flash drive; phrases designed to make "investors" think they were buying "digital gold".

You never hear people talk about buying things with the "currency of the future". Maybe someday.

It is what it is, bits on a flash drive that you hope to sell for more than you bought it for.
920   WookieMan   2021 Feb 4, 11:55am  

Onvacation says
It was designed with phrases like, "bitcoin mine" instead of server farm, "miner" instead of computer technician, "coin" instead of bits, and "wallet" rather than flash drive; phrases designed to make "investors" think they were buying "digital gold".

Stop with the keywords. Legit. You're right, but it will only draw more spam scum here that searches for it. PorkChop and Cash are real users. Others aren't. We don't need more of the bad kind that cannot even answer a simple question, ever.

Some of these spammers are like termites. Especially in the financial realm. They'll destroy this site by trying to attract like kind scum/spammers. If 5-10 more users of a certain type come here for crypto, it's game over for this site. They're cancer. I've seen it happen and the regulars just bail. I like everyone here, even those I disagree with on this topic. Let's not trash the place.
921   porkchopXpress   2021 Feb 4, 1:00pm  

Onvacation says
porkchopexpress says
I understand that you like traditional investments and you've done well there. Stick with what you know and can feel. I totally get it. However, if you think that technology and digital isn't the way of the future, I believe you're sorely mistaken. Does that mean you'll be unhappy if you don't invest in crypto? Of course not. But don't act like it has a pointless future when you know nothing about it.

@porkchopexpress

Are you a trader or a HODL'er?

Would you agree that crypto is extremely speculative?
I am NOT a trader. Trading is highly speculative in any asset class IMO. I invest in cryptos I believe in such as DOT, ETH, ADA, and XLM because they serve a functional purpose that I see as extremely valuable in the long run. It's like investing in the PC back in 1975 as a technology and thinking it'll go mainstream, without investing in the company who created the PC. Do I know for sure 100% that crypto is the future, no...but I believe it is. Everything is a risk else I'd just stuff cash down my wife's panties.

Having said that, there are a lot of traders and fly-by-nighters who ruin the good name of crypto and what it tries to accomplish. This is why there are a lot of shitty coins out there that just become a pump and dump scheme. The key is "investing" in crypto that truly makes sense and serves a highly valuable purpose. Otherwise, my cash just sits in a savings account earning 0.5% and I don't want to be a landlord.

My time horizon for my crypto investments is literally 10-20 years, or longer. Minimal investments now could be worth multi-millions upon retirement. Or, I hand those coins to my kids. As I've said before, crypto can now earn interest and dividends too.
922   Onvacation   2021 Feb 4, 1:14pm  

porkchopexpress says
Having said that, there are a lot of traders and fly-by-nighters who ruin the good name of crypto and what it tries to accomplish.

What is the problem crypto solves?
923   Bitcoin   2021 Feb 4, 1:56pm  

Bitcoin is much better than gold. "Digital gold or gold 2.0" lets people understand that Bitcoin is a store of value. But really, gold is like a landline compared to the iphone 12 pro (Bitcoin).

We should re-name gold to wannabe Bitcoin and leave Bitcoin's name alone. Bitcoin is even shinier. But the best part is the performance. Gold performs like a landline. Bitcoin is the best performing asset. Nothing comes even close.
OV and Sissy are upset because they never managed to get on the train.



925   Onvacation   2021 Feb 4, 1:58pm  

I kind of expected you to post your chart.

Didn't you have another one?
926   Bitcoin   2021 Feb 4, 2:13pm  

@porkchopexpress

Both WookieMan and onvacation are scared shitless of Bitcoin. Different reasons though.

-One is a silver bug who put his money into old toys and old physical coins (lol). Apparently the seller told him his matchbox car will be worth something someday. The seller probably speculated that "every day a dummy wakes up and hopefully one of them buys my junk". bawahaha.
-And Wookie has BSDS. I think that is pretty clear by now.

I heard that such people exist (who buy old stuff and think it will be worth a lot more in the future) but I never really believed it until OV. We got a live one here!
927   Bitcoin   2021 Feb 4, 2:16pm  

knowing what we know there is just no way OV will ever let himself do an unbias Bitcoin research. He even tells himself that the last Bitcoin will be mined in 2040. Pretty much everyone who looked into BTC knows the year is 2140. For the longest time he believed 2040 but now he even tells himself its probably 2030. He is too deep down the rabbit hole and wont be able to participate in this crypto/bitcoin revolution. He will always remain on the sidelines pushing his little toy back and forth saying: one day you will make me rich, little car.
928   Onvacation   2021 Feb 4, 2:50pm  

G36 says
knowing what we know there is just no way OV will ever let himself do an unbias Bitcoin research

So what is the current market cap of your coins?
929   Onvacation   2021 Feb 4, 2:52pm  

G36 says
He will always remain on the sidelines pushing his little toy back and forth saying: one day you will make me rich, little car.

A small part of my net worth! You should see my rare Lego collection.
930   porkchopXpress   2021 Feb 4, 2:57pm  

Onvacation says
porkchopexpress says
Having said that, there are a lot of traders and fly-by-nighters who ruin the good name of crypto and what it tries to accomplish.

What is the problem crypto solves?
How about a platform to conduct financial transactions without a middleman? Lending, borrowing...any sort of contract executed at lightning speed and with little to no brokerage fees.
931   Onvacation   2021 Feb 4, 2:59pm  

porkchopexpress says
Onvacation says
porkchopexpress says
Having said that, there are a lot of traders and fly-by-nighters who ruin the good name of crypto and what it tries to accomplish.

What is the problem crypto solves?
How about a platform to conduct financial transactions without a middleman? Lending, borrowing...any sort of contract.

That's blockchain.

What I meant was what problem does crypto-currency solve?
932   Onvacation   2021 Feb 4, 3:00pm  

porkchopexpress says
How about a platform to conduct financial transactions without a middleman?

Oh you meant , pay ransom, and buy illicit items. I can see how it would work for that.

Isn't that how Hunter got his high quality crack?
933   Bitcoin   2021 Feb 4, 3:18pm  

Onvacation says
G36 says
He will always remain on the sidelines pushing his little toy back and forth saying: one day you will make me rich, little car.

A small part of my net worth! You should see my rare Lego collection.


Yes please! could you send a pic and let us know how much that lucky seller got from you for these legos?
Oh and please include what you think these legos will be worth one day.
934   EBGuy   2021 Feb 4, 6:13pm  

WookieMan says
Possible, but I don't think there will be a green new deal. Maybe some variation

Maybe something like this?
Sanders, Ocasio-Cortez, Blumenauer aim to require Biden to declare climate emergency
936   Bitcoin   2021 Feb 4, 9:26pm  

G36 says
Onvacation says
G36 says
He will always remain on the sidelines pushing his little toy back and forth saying: one day you will make me rich, little car.

A small part of my net worth! You should see my rare Lego collection.


Yes please! could you send a pic and let us know how much that lucky seller got from you for these legos?
Oh and please include what you think these legos will be worth one day.


show them Legos @Onvacation
dont be embarrassed of your investment in legos. Send a pic and tell us how much you bought it for.
937   Onvacation   2021 Feb 5, 7:30am  

While the original was sized to be more collector's piece than plaything, this new-gen option is decidedly on the latter side. Two spring-loaded shooters, a fully accessible interior, smuggling compartment, and six franchise-spanning minifigures ensure hours of play with this 1,353-piece kit.


I thought you would appreciate the MILLENNIAL cruiser.
938   Onvacation   2021 Feb 5, 7:31am  

I also collect subway tokens.
939   Onvacation   2021 Feb 5, 7:31am  

I wouldn't call them investments, just waiting to use them on the subway.
940   Bitcoin   2021 Feb 5, 7:44am  

Onvacation says
While the original was sized to be more collector's piece than plaything, this new-gen option is decidedly on the latter side. Two spring-loaded shooters, a fully accessible interior, smuggling compartment, and six franchise-spanning minifigures ensure hours of play with this 1,353-piece kit.


I thought you would appreciate the MILLENNIAL cruiser.


@onvacation
I love this, how much did you pay for it and what do you think it will be worth in 5 years?
941   Onvacation   2021 Feb 5, 7:46am  

And robots. I have a robot collection.
942   Onvacation   2021 Feb 5, 7:49am  

But back to the subject of this thread.

Bitcoin is a scam. Someday everyone will figure out that there is no value stored in crypto.

The HODL'ers will keep on HODL'ing and they will claim that their precious coin is worth 100,000 (in fiat) but no one is selling because, "they're not making any more". Just like the Falcon Millennials love.

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