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Bitcoin Misinformation


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2020 Nov 10, 10:01am   133,637 views  2,169 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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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.
943   Onvacation   2021 Feb 5, 7:53am  

22,000,000 X $300,000 = $660,000,000,000 is bitcoin's eventual market cap in 2140 when only HODL'ers hold and they're not (can't) sell(ing).
944   Onvacation   2021 Feb 5, 8:06am  

Onvacation says
Two spring-loaded shooters,

Two spring loaded shooters. TWO!!

I don't actually invest in toys. I have been dollar cost averaging into the stock market for decades and the paper looks good. On paper.

What is really important is living a good balanced life.

So go ahead and play with your E-tokens but realize they are only worth as much fiat as the next greatest fool is willing to pay and you are paying for vast amounts of electricity to keep the spreadsheet updated.
945   Bitcoin   2021 Feb 5, 8:09am  

G36 says
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?


How much did you pay for it and what do you think it will be in 5 years? Its okay. Just tell us. Stand behind your investment. Dont be embarrassed.
946   Onvacation   2021 Feb 5, 8:12am  

First tell us about crypto market cap and how it is calculated.

That Millennial Falcon is pretty cool. Google it, you can probably get one if you cash in a couple thousand Satoshis.
947   porkchopXpress   2021 Feb 5, 8:42am  

Crypto on a tear today.
948   Bitcoin   2021 Feb 5, 8:47am  

man, you are even too embarrassed to tell us how much you paid for your toys/investments?
Its not like you DCA in :) its okay, I wont press you. I got what i needed.

Yeah, crypto is on freaking fire...Those altcoins I have in my portfolio are absolutely exploding. Many pulled several X since I stopped DCA'ing

DCA stands for dollar cost average. you basically buy portions during accumulation phases and when these coins moon you DCA out of it.

This is going to be the biggest year for crypto in history! Can you tell I am excited :) lets go baby!
949   WookieMan   2021 Feb 5, 9:19am  

G36 says
man, you are even too embarrassed to tell us how much you paid for your toys/investments?

You haven't left Socal your entire life. Pretty sure that's more embarrassing. The parents basement must be treating you well. Where have you EVER traveled? Not just recently? Ever. You have no experiences besides mountain biking on brown and bland terrain in Socal. Just answer a simple question about anything at this point besides doing activities for children.

You ever wonder why the rich buy yachts, travel to Europe, Asia or the Caribbean? Because they can and want to. Even the richest people don't want to be stuck in the same spot. It's awful. Getting out and seeing the world makes you understand that your little corner is shit. There are better places and people out there.

My uncle chooses to summer in Chicago of all places in a $20k a month penthouse condo. Scottsdale is hot in summer, but he ditches an $8M home for Chicago 3 out of 4 weeks all summer each month. He also doesn't touch crypto and has 4 sports cars in his garage that are worth 7x's your screenshot crypto investment.

Until you understand that people make exponentially more than crypto via other methods, you'll just be a troll and spammer. It's not my money, but my uncle ain't on this site or any others for that matter trying to sell shit. There's a reason I know you're broke having known a ton of people that are legit wealthy. It's why I troll you and it's why you get so frustrated. It's funny.
950   Onvacation   2021 Feb 5, 9:20am  

G36 says
I got what i needed

What did you need?
951   Bitcoin   2021 Feb 5, 9:36am  

oh boy....another very cold day in IL...

beautiful here in Socal and Ethereum is over 1.7k (it was 700 in December).

Bad day for sissy with her BSDS.





Sis, did you get that umbrella now?
952   Onvacation   2021 Feb 5, 9:46am  

Why do some people feel the need to be superior?
953   Bitcoin   2021 Feb 5, 9:47am  

Onvacation says
Why do some people feel the need to be superior?

Its her BSDS.
She missed out on Bitcoin and hates winters in IL.
I offered help many times (with Bitcoin). I cant help with the sunshine but I can help her to get an umbrella.
955   WookieMan   2021 Feb 5, 9:53am  

G36 says
I cant help with the sunshine but I can help her to get an umbrella.

Sunny as can be here. No umbrella needed... it's not raining.... Actually just took the dog for a walk. Good day. Got a 40th birthday party to attend this late afternoon with some supposedly amazing authentic Mexican food made by his wife.

Quick tip. Until you've been to IL, you might want to stop bashing it. You know nothing because you haven't left where you live. Which is sad.
956   Bitcoin   2021 Feb 5, 9:57am  

see, it gets her every time. every. time :)

Socal


Sissy's life (on the right)....Sis doesnt own an umbrella (yet).
957   WookieMan   2021 Feb 5, 10:43am  

G36 says
Sis doesnt own an umbrella (yet).

You never cease to amaze me. WTF is an umbrella gonna do in that situation? That's probably some dip shit from CA that's never seen snow besides the nearby mountains that take 4 hours to get to even though as the crow flies it should only take 30 minutes because of shit traffic. You don't use an umbrella when it snows... fact.

That weather also doesn't scare me. I'm able to handle it. Sad we've come to the point where men can't even handle winter. I guess we are doomed as a country when snow is scary and spreadsheets are interesting.
958   Bitcoin   2021 Feb 5, 10:44am  

see, every time.

she cant help herself

959   Onvacation   2021 Feb 5, 10:47am  

WookieMan says
Until you've been to IL,

I got to work in Chicago for a couple months back in the 90's. Stayed at the Days Inn Navy Pier. Awesome place to go in the summertime. Been stuck at O'hair too many times in the winter.

Have not been there this century, but Chicago used to be awesome.
960   Bitcoin   2021 Feb 5, 12:17pm  

that BSDS has strong symptoms....the triggers are fascinating.

Here's a Bitcoin sunset. Bitcoin is approaching 40k and makes us BTC holders happy. I'll skip on IL in the winter. Heard Chicago is not very safe these days. Is that why you keep talking about guns and ammo?

Sunshine and Bitcoin makes people happy. Bad weather can be depressing and makes people sometimes jealous or even angry. (BSDS symptoms).



The good thing is that snow shoveling can be a form of exercise if done right.

Please watch your back Sis! Snow shoveling can lead to back issues especially in places that get hit hard during winter.

https://upnorthlive.com/news/local/physicians-provide-tips-for-proper-snow-shoveling
961   WookieMan   2021 Feb 5, 11:30pm  

G36 says
Heard Chicago is not very safe these days

Scared? Seems that way. Your personal nickname seems to suite you better. FYI, I don't live in Chicago. Keep up.

G36 says
Bad weather can be depressing

Nope. Changes things up. Snow is fun too. We grow up with it and aren't massive pussies that do children's things like ride a bike.

G36 says
Snow shoveling can lead to back issues especially in places that get hit hard during winter.

Yeah, shoveling snow is learned when you're 4-5 years old here. You also learn an umbrella isn't needed for snow. You then learn that using stock photos make you look like an idiot when you invest in crypto.
962   Bitcoin   2021 Feb 6, 7:44am  

@WookieMan
Oh boy, Sissy's BSDS is bad today. Must be the bad weather (again). Oh wait! its a combination.....Bitcoin is up.....That makes sense!



Sissy's life......he actually revealed, he is shoveling snow since he is 4-5 years old. It makes all sense now why he's sick and tired of it. This poor boy!


I am going MTB, doing a long one today. Perfect weather here. Maybe spend some time on buying an umbrella today sis.
963   Onvacation   2021 Feb 6, 8:08am  

G36 says
....Bitcoin is up.....

How much gains have you realized from crypto?
964   WookieMan   2021 Feb 6, 10:33am  

G36 says
Bitcoin is up.....That makes sense!

Congrats!!!! Lol. My bank account went up because customers paid me. My margins are 40% EVERY month. You know what that means right? I've destroyed crypto. AKA I made more than if I would have put a dime into crypto in the last 3-4 years. You clearly don't and won't ever own a business and understand that.

Trust me... that $400/wk paycheck you invested in crypto hasn't kept up. Keep spamming though. Smart people understand there are 100's of more ways to invest and make more money without crypto. Stop comparing it to stocks or metals. All of it has value, but nothing beats just having people pay you for doing nothing yourself. I've said you'll learn, but I think it might be a lost cause at this point.
965   WookieMan   2021 Feb 6, 10:34am  

WookieMan says
doing nothing yourself

Here. I'll start for you with the selective trolling.... errrrr.... I meant quoting.
966   porkchopXpress   2021 Feb 6, 12:02pm  

Onvacation says
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?
You're half right. It's the technology that's built on top of blockchain. As far as what cryptocurrency solves, it depends. In the case of Polkadot or Cardano, it's the currency that drives (and pays) people to participate in the blockchain's development. In the case of Dash or Monero, it's tender to seamlessly exchange assets. In the case of Bitcoin, it's simply digital gold as a store of value without the ability to increase the supply.
967   Onvacation   2021 Feb 6, 1:14pm  

porkchopexpress says
, it's simply digital gold as a store of value without the ability to increase the supply.

I hear you. But crypto is backed by fiat and fiat is backed by the central banks assets and the central banks assets are debt and there is not enough fiat in the world to pay off the debt.

Thus the great reset.

Do you think crypto will make it to the other side if the great reset goes forward?
968   Bitcoin   2021 Feb 6, 5:41pm  

oh boy, Sissy's BSDS was strong today. Sorry you had a bad day!
I did 30 miles on my MTB, lots of climbing. I am exhausted. I love winter in Socal. Actually, I love Socal all year round :) Thanks to Sis i appreciate where I live even more.
Sissy's stories are heartbreaking.....shoveling snow since he was 4????? poor kid.


969   Bitcoin   2021 Feb 6, 5:43pm  

porkchopexpress says
In the case of Bitcoin, it's simply digital gold as a store of value without the ability to increase the supply


Yep. Bitcoin is a brilliant store of value. Best performing asset. And it pulls the entire crypto market up! So stoked about this year!
970   WookieMan   2021 Feb 6, 8:15pm  

G36 says
Best performing asset.

Prove it. We'll wait..... and there will be nothing.
971   Onvacation   2021 Feb 7, 7:18am  

Bitcoin Annualized Total Footprints

Carbon Footprint
36.95 Mt CO2
Comparable to the carbon footprint of New Zealand.

Electrical Energy
77.78 TWh
Comparable to the power consumption of Chile.

Electronic Waste
10.79 kt
Comparable to the e-waste generation of Luxembourg.
972   Bitcoin   2021 Feb 7, 7:32am  

WookieMan says
G36 says
Best performing asset.

Prove it


@Wookiman
I cant torture you. You've have been shoveling snow since you are 4 and want nothing more in life than sun and bitcoin. You cant afford a single Bitcoin but want to know the percentage gains of BTC? I really dont want to ruin another day for you. But ok :)

Before I show you the chart, please make sure you dont forget to breath. Also, for people with BSDS its best to sit down and take an extra pill if faced with realities.

When you are ready, take a peek. sloooowly. If the triggers are too strong, take a break >> immediately.



I hope you are doing ok. sry Bud.
973   Onvacation   2021 Feb 7, 7:41am  

Asset?

I occasionally play the lotto when it gets stupid big. I buy a quick pic and put it in my wallet, a real wallet not a flash drive. I usually leave it there for a while because I know my chances of winning.

Now if the winning ticket was worth $200,000,000 and 100,000,000 tickets were sold that would make the market cap of the lotto $2,000,000,000,000,000.

Somebody check my math.
974   Onvacation   2021 Feb 7, 7:42am  

The winning ticket is the best performing asset out there.
975   WookieMan   2021 Feb 7, 7:51am  

G36 says
I cant torture you.

I know you can't. lol. Called private business bro. Plenty private businesses outperformed everything on that list including my own. You'll learn.

But hey, keep feeding the people that are taking your money instead of making it on your own. It will click. Unfortunately I think you have massive losses on the horizon for it to finally click. You'll see. Or you just have no marketable skills for people to pay you. I know the answer, but you have to figure it out. Instead of being the donkey, why not just be the water? That's how I roll. You don't. Yet. I hope you'll find it because I wish no ill will on any, well most humans.
976   Bitcoin   2021 Feb 7, 8:12am  

G36 says
WookieMan says
G36 says
Best performing asset.

Prove it


@Wookiman
I cant torture you. You've have been shoveling snow since you are 4 and want nothing more in life than sun and bitcoin. You cant afford a single Bitcoin but want to know the percentage gains of BTC? I really dont want to ruin another day for you. But ok :)

Before I show you the chart, please make sure you dont forget to breath. Also, for people with BSDS its best to sit down and take an extra pill if faced with realities.

When you are ready, take a peek. sloooowly. If the triggers are too strong, take a break >> immediately.



I hope you are doing ok. sry Bud.


oh boy, I was almost certain this would crush him again. So sorry Bud
977   Bitcoin   2021 Feb 7, 11:08am  

@WookieMan

man, today is even worse than yesterday in IL. Sorry bud....beautiful/perfect weather here.

978   WookieMan   2021 Feb 7, 11:39am  

G36 says
man, today is even worse than yesterday in IL. Sorry bud....beautiful/perfect weather here.

-14F (Russians do Celsius, right?) actually where I live this morning. Got up this morning warmed the car up and got a couple cases of beer for a lazy Sunday party with the neighbors. Won't watch the game because that's gay like crypto.

Best part is the only time today I touch the computer or tech is to come here. Don't have to watch the price of anything. Don't need to. My entertainment is the freak out y'all are having starting threads and being questioned. It really is funny. So defensive for something that's going to the moon. Wonder why?

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