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Bitcoin Misinformation


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2020 Nov 10, 10:01am   131,898 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

« First        Comments 991 - 1,030 of 2,169       Last »     Search these comments

991   Patrick   2021 Feb 8, 10:54am  

Huh, that is a good point. Quotes should not be editable, only selectable and include-able. I will see if I can do this.

I also suggest not engaging with the guy. He thrives on the conflict.

@WookieMan
992   rocketjoe79   2021 Feb 8, 10:55am  

Tesla just bought $1.5 Bn in Bitcoin. WTF?
993   FortWayneAsNancyPelosiHaircut   2021 Feb 8, 10:57am  

Basically virtual tulips.
994   Bitcoin   2021 Feb 8, 11:02am  

rocketjoe79 says
Tesla just bought $1.5 Bn in Bitcoin. WTF?


Thats 1.5B that we know of....what about SpaceX. its not publicly traded and therefore no SEC filing. Also, we dont know how much Bitcoin was bought by Elon Musk personally. We only know Bitcoin and all of crypto is skyrocketing in price.
995   Bitcoin   2021 Feb 8, 11:03am  

WookieMan says
G36 says
WookieMan says
G36 says
he even forgot easiest math 80-28=72

Lol. This can't be funnier. joke

I know, I know, running to Patrick.


@WookieMan

"daddy, daddy please help"
996   Bitcoin   2021 Feb 8, 11:16am  

Patrick says
Huh, that is a good point. Quotes should not be editable, only selectable and include-able. I will see if I can do this.

I also suggest not engaging with the guy. He thrives on the conflict.

@WookieMan


@Patrick
so many people told WookieMan this. He cant stop posting on Bitcoin threads. Its an obsession. That's why he absolutely hates bullish Bitcoin news and people sharing this. I call it a Bitcoin derangement syndrome.
997   WookieMan   2021 Feb 8, 11:26am  

G36 says
so many people told WookieMan this.

Name names. You and cash. That's about it for active users. Why is that? #Spam #clickbait

99% of users come for conversation. Sure argument happens, we just don't spam the site. Simple as that. Argue otherwise or shut up.
998   Bitcoin   2021 Feb 8, 11:30am  

I called it. the tesla buying Bitcoin news was too much for him. Only one thing left for him....anger outbursts. He just cant help himself. No matter how many people tell him. Its an obsession (Bitcoin derangement syndrome). Very self destructive.
999   WookieMan   2021 Feb 8, 11:47am  

G36 says
Only one thing left for him....anger outbursts.

What outbursts? I'm the only civil one in this back and forth. Why? I don't worry or care about crypto. I care about the people that get sucked into the scheme you're promoting. That's where my loyalty lies. Stopping bull shit.
1000   Bitcoin   2021 Feb 8, 12:39pm  

WookieMan says
G36 says
Only one thing left for him....anger outbursts.

outbursts


What would help is if you buy some satoshis. Maybe convert your portfolio of 100 shares of Luv.
1001   WookieMan   2021 Feb 8, 1:19pm  

G36 says
What would help is if you buy some satoshis. Maybe convert your portfolio of 100 shares of Luv.

I don't buy losers. Up 20% on my position. Not complaining nor would I care if it was down 20%. Beauty is I can lose it and not care, just like Musk.

LUV and Chase pay me to travel the hemisphere instead of sitting in my basement looking at paper gains. Hell, we all know there are no gains, but it's fun to play along. You should try.
1002   Onvacation   2021 Feb 8, 1:26pm  

Patrick says
Huh, that is a good point. Quotes should not be editable, only selectable and include-able. I will see if I can do this.

I also suggest not engaging with the guy. He thrives on the conflict.

@WookieMan

AS unstoppable as cheating at an online test.

However:WookieMan says
There needs to be a strike count for quote manipulators.


Or you could ignore him.
1003   Onvacation   2021 Feb 8, 1:27pm  

The bad part of making someone look like an idiot is that it doesn't make one look too smart.

In other words; when you wrestle a pig you both end up muddy but the pig likes it.
1004   Onvacation   2021 Feb 8, 1:28pm  

Back to the topic of how Bitcoin is a scam.
1005   Onvacation   2021 Feb 8, 1:29pm  

Onvacation says
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.

Has anyone checked my math?
1006   Onvacation   2021 Feb 8, 1:29pm  

Can anyone explain how a crypto currency can even have a valid "market cap"?
1007   WookieMan   2021 Feb 8, 1:51pm  

Patrick says
I also suggest not engaging with the guy. He thrives on the conflict.

I don't believe there's a conflict though. I'll keep engaging unless you ask me not to explicitly. It's your site. I've kept it non-personal 95% of the time. I simply don't want other idiots to get sucked into the scheme. The fallout from this pump, during this time is going to destroy a lot of lives. Including some here. It happened in Dec 2017. It's the same cycle. The same hype. It ends bad for people. Plenty of crypto "investment" is being thrown on credit cards by people that get sold by shit like what is posted here.

I like the site and just don't want to see it go down the rabbit hole of penny/crypto pumping and dumping shit.

Onvacation says
Can anyone explain how a crypto currency can even have a valid "market cap"?

You know as well as I do these guys are here for SEO linking and spamming. G/Newbie123 posts the fucking google search graph for crypto almost daily. They think they're market movers and heck they may even be paid to do so. Given a daily email of what to post. They don't invest in crypto. I like that you fight it and question it though.

If they can't answer 3rd grade math questions, they're obviously spam at this point. They can't even answer if they've been on vacation ;) They haven't. And they're jealous with pretend paper gains. It's sad. I just don't want to see them suck other people into a losers game.
1008   Bitcoin   2021 Feb 8, 1:57pm  

oh boy, Bitcoin is still climbing....the Tesla-buying-Bitcoin news hit hard today! bad day for BTC haters :)
1009   Onvacation   2021 Feb 9, 6:56am  

G36 says
oh boy, Bitcoin is still climbing.

Any answers about market cap?
1010   Onvacation   2021 Feb 9, 6:56am  

"I got coin in my wallet" the rest of us have cash.
1011   Bitcoin   2021 Feb 9, 6:58am  

Onvacation says
G36 says
oh boy, Bitcoin is still climbing.

Any answers about market cap?


yeah, Bitcoin is only on place 9. I'd like to see Bitcoin on #1.

1012   Bitcoin   2021 Feb 9, 6:58am  

Onvacation says
"I got coin in my wallet" the rest of us have cash.


More Bitcoins more wealth
1013   Onvacation   2021 Feb 9, 4:39pm  

G36 says

More Bitcoins more wealth

Like a store of value?

Why do you suppose Musk dumped a ton of money on a months supply of "mined" bitcoins? It would explain the bump. Do you think he thinks it's a store of value? The currency of the future? A gamble to double his money?
1014   Onvacation   2021 Feb 9, 5:04pm  

I think Musk is smarter than to HODL. I still do. Maybe he's transferring some wealth to some blackmailers that have video of him smoking pot?
1015   Bitcoin   2021 Feb 9, 5:07pm  

Tesla buying 1.5B worth of Bitcoin is just the best news. Thank you Elon! And thanks to all Tesla shareholders who indirectly pump my Bitcoin
1016   Bitcoin   2021 Feb 10, 7:42am  

oh boy....another shitty day in IL. looks cold and ugly! Beautiful here in Socal. Sorry Sissy! AND Bitcoin is over 44k!
Double whammy! @WookieMan
1017   WookieMan   2021 Feb 10, 8:00am  

G36 says
oh boy....another shitty day in IL.

I enjoy it. You can be afraid of winter or embrace it. Thanks for letting us know where you stand though. I'll keep taking my huge returns in state income taxes that beat crypto. Best performing asset is not living in CA...lo fucking l.
1018   Bitcoin   2021 Feb 10, 8:14am  

WookieMan says
G36 says
oh boy....another shitty day in IL.

afraid of winter


I am so sorry. Beautiful weather here and Bitcoin over 44k :) Sorry you get hit with double whammy's daily, Sissy.
1019   WookieMan   2021 Feb 10, 9:41am  

G36 says
Beautiful weather here and Bitcoin over 44k

Enjoy paying for weather. Free flights versus CA government, income taxes through the roof, overpriced housing, paying pensions for deadbeats, shit on the street, needles etc. I'll take my annual 60% gain as a high income earner living in IL. I also don't live here close to 3 months of the year. I know, you like monotonous lifestyle, brown shrubbery and full of illegals.

I hope someday you stop trying to justify the fact you're invested in nothing. Your state or crypto. You've been burned.
1020   Bitcoin   2021 Feb 10, 9:54am  

WookieMan says
G36 says
Beautiful weather here and Bitcoin over 44k

Enjoy paying for weather.


I would pay more in a heartbeat! Living in Socal is priceless. For no money would I move to IL after seeing shitty day after shitty day. It clearly shows the negative impact on people like you (@WookieMan). Mentioning sunshine triggers you. Every. time.
Sometimes you have to look at ones misery to appreciate even more the Socal living.

Thanks Sissy!
1021   WookieMan   2021 Feb 10, 10:56am  

G36 says
I would pay more in a heartbeat!

Obviously. LOL! Keep enjoying losing 40% out of the gate by living in CA for every $1 you earn. Not sure if you earn any, but either way, point stands. Let's say you're being honest (you're not). I make a higher ROI than you do living in IL. Unless you want to tell us you don't make money? If you don't make money how did you get BTC? Mom and Dad would be my first guess.

Hmmm.... now that I think about it. What field do you work in? Can't believe I haven't asked the most obvious question. My business is in construction. I also deal in real estate and media. What do you do Mr. Crypto thousandaire?
1022   Bitcoin   2021 Feb 10, 11:01am  

WookieMan says
G36 says
I would pay more in a heartbeat!

Obviously.


Right? Beautiful weather is priceless! Gosh, I would pay double to keep enjoying this beautiful weather in Socal!
1023   WookieMan   2021 Feb 10, 11:02am  

G36 says
Right? Beautiful weather is priceless!

Not for mom and dad....
1024   Bitcoin   2021 Feb 10, 11:05am  

WookieMan says
G36 says
Right? Beautiful weather is priceless!

mom and dad....


They live in Socal too....most of my fam does :) Very happy to have family close!
1025   WookieMan   2021 Feb 10, 11:07am  

G36 says
Very happy to have family close!

I know, upstairs. Must be nice. Most people have to own or rent their place of residence and not rely on mom and dad. Good for you milking your folks for money. You should be proud.
1026   Bitcoin   2021 Feb 10, 11:09am  

WookieMan says
G36 says
Very happy to have family close!

I know. You should be proud.


I am.....SoCal is beautiful and having family in SoCal is beautiful too. We love it here. You can party in the BY basically all year long.

Have you gotten an umbrella yet?
1027   WookieMan   2021 Feb 10, 11:16am  

So you do live with mom and dad. Thanks for confirming.
1028   Bitcoin   2021 Feb 10, 11:17am  

WookieMan says
mom and dad. Thanks.

Yep, they live in Socal too. Not too far away. It's nice to have family close by. They all love it here in Socal.
1029   WookieMan   2021 Feb 10, 11:24am  

G36 says
WookieMan says
mom and dad. Thanks.

Yep, they live in Socal too. Not too far away. It's nice to have family close by. They all love it here in Socal.

They live in the same house. Everyone here knows it. You need help. Lying about it won't solve your insufficiencies. Throwing money at fake money won't either. You'll learn.
1030   Bitcoin   2021 Feb 10, 11:26am  

WookieMan says
G36 says
WookieMan says
mom and dad. Thanks.

Yep, they live in Socal too. Not too far away. It's nice to have family close by. They all love it here in Socal.

Everyone here knows it.


Yep, cousins, mom, dad, aunts, uncles....pretty much everyone lives in Socal :)

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