patrick.net

Tesla continues to HODL Bitcoin. Here is Musk's tweet. It also sounds like Tesla could be entering the Bitcoin mining business:



Thank you Tesla!

MisdemeanorRebellionNoCoupForYou says

Bitcoin says

yep, I fucking killed it....18x in less than a year!

Currencies that trade like OTC Biotechs! Safe store of value - money of the future!

you sound bitter and jealous! Just be happy for crypto investors like me who make life changing money in this extremely bullish crypto market :)

Given massive coming inflation, crypto currency will continue to rise in value. When government fiat currency proves weak, investors will see value in currency that can’t be manipulated by simply printing more of it.
Dogecoin FTW!

I think that no matter what the underlying currency, it's always possible to "print" more of it by making more loans.

Even with gold, there were massive credit cycles.

If I promise to pay you an ounce of gold I do not have, and you accept that promise, in effect we have created more money right there.

Patrick says

I think that no matter what the underlying currency, it's always possible to "print" more of it by making more loans.

Even with gold, there were massive credit cycles.

If I promise to pay you an ounce of gold I do not have, and you accept that promise, in effect we have created more money right there.

Nice to see someone who gets it. It’s not specific to any currency, crypto or commodity. Everything is leveraged and the first in wins the most.

Can you make money on crypto? Sure. Will you lose it. Most likely. Anything ramped up with no assets by default is a bubble. Musk burned and will burn a shit ton of people. The goal is Mars. He gives zero fucks about any of us.

He’s made some cool stuff. Tesla is a nice car. Until it can get 400mi per charge and recharge in 2 min, it’s shit. The average person has no use for a $50k car you need to wait 20 min to get going again.

Tesla should buy Cardano (ADA)! I like my 18x, but wouldnt mind a 100x.

Let's go Elon, tweet about Cardano!

Bitcoin says

Tesla continues to HODL Bitcoin. Here is Musk's tweet. It also sounds like Tesla could be entering the Bitcoin mining business:



Thank you Tesla!

Musk conveniently left out what he did with his personal holdings of Bitcoin. Did he sell all of it? Did he go short?

Put him on the spot. I bet he personally made a ton on the pump and dump.

Misc says

Musk conveniently left out what he did with his personal holdings of Bitcoin. Did he sell all of it? Did he go short?

Put him on the spot. I bey he personally made a ton on the pump and dump.

He knew his tweet would push the price down so he can buy more Bitcoin at a discount. He knows that his tweets move the markets.....
If you have the power why not use it?

Cryptocurrency is not yet subject to Federal Insider Trading Rules. So it's the Wild, Wild, West for traders who can start rumors for pump and dump schemes.

Shows a weakening dollar due to inflation.

WillPowers says

Shows a weakening dollar due to inflation.

Inflation is hitting like a storm right now....the perfect set up for Bitcoin and crypto.

Talked to my buddy who is a higher up at a commercial landscaping company. He could hire 30 guys right now because there is so much work. Problem is, they all want $4 more an hour than what he thought the market rate is. Not only is material cost going through the roof....labor is too.
Shit's going to get more expensive very quickly....groceries is next.

The wage inflation is caused by the fools continuing to pay unemployment benefits.

When that stops, the lazy fucks have to go to work or sell their ass if they aren’t ugly hags and fags.

clambo says

The wage inflation is caused by the fools continuing to pay unemployment benefits.

That is also true.....and a booming construction industry. Near the coast we see new construction on almost any buildable land (commercial and residential).
And dont forget, during Trump we had less illegals coming in. My buddy in the landscaping industry tells me all the time how he has to "steal" people from competitors in order to get decent workers. Isnt that a good thing? less illegals and a competition around labor increases labor costs. Do we want illegals to do the work for less or do we want americans to do the landscaping/construction work for more money?

So, we heard so much bullshit/lies by the Bitcoin haters:

"Elon played you"
"Elon sold all Bitcoin"
"Pump and dump"

here is a reality check:

https://www.youtube.com/watch?v=xd5yeSs_zsI

As I said multiple times before....Bitcoin has its way to slapping the haters left and right.

Takeaways:
Elon Musk said during the conference, not only does Tesla still own 90% of its Bitcoin holdings but also SpaceX holds Bitcoin on its balance sheet and Elon personally owns Bitcoin, Ethereum and Doge.

LOL :) Thank you Tesla! Thank you Elon and thank you SpaceX!

Bitcoin says

https://www.youtube.com/watch?v=nQSFs-PFipE

Is this real? Theyre giving away BTC?



Seems like a money laundering scheme - maybe thats why they want you to send money to them first, so they can send diff money back.

Looks fake / scammy.

Hircus says

Looks fake / scammy.

Total scam but there are still big ole sucker fish ready to take the bait... That type of scam was running hot and heavy on any
semi popular coins but now most know better or at leasr shoul.

Use this link to watch the conference: Its interesting to watch and shows how wrong all the Bitcoin haters are (once again)

https://www.youtube.com/watch?v=xd5yeSs_zsI

the youtube video link is meant for you to watch the dialogue on Bitcoin between Cathie Wood,, Elon and Jack Dorsey.


https://www.cnbc.com/2021/07/21/elon-musk-jack-dorsey-speak-about-cryptocurrency-at-b-word-conference.html

Musk said. “I definitely do not believe in getting the price high and selling or anything like that. I would like to see bitcoin succeed.”

https://www.theblockcrypto.com/post/112158/elon-musk-says-spacex-owns-bitcoin-and-he-owns-ethereum-in-jack-dorsey-talk

hahaha

"Elon Musk says SpaceX owns Bitcoin and he owns Ethereum in Jack Dorsey talk"
"Elon Musk confirmed both Tesla and SpaceX own Bitcoin during his discussion with Twitter CEO Jack Dorsey and ARK Invest CEO Cathie Wood today."
"In his opening remarks at The B Word panel, Musk said he is ultimately a supporter of Bitcoin and cryptocurrencies despite his skepticism towards proof of work concepts. He said the only public stock he owns is Tesla, but the only "three meaningful assets" he owns outside of company stock is bitcoin, ether and dogecoin, and that he owns "much more bitcoin than ether or doge.""


poison for the Bitcoin haters :)

Ya its a fake ark invest youtube account. Looks like they can spoof subscribers, or maybe use their botnet to force people to subscribe to their channel.



I bet they make good money doing this.

Bitcoin says

https://www.theblockcrypto.com/post/112158/elon-musk-says-spacex-owns-bitcoin-and-he-owns-ethereum-in-jack-dorsey-talk

hahaha

"Elon Musk says SpaceX owns Bitcoin and he owns Ethereum in Jack Dorsey talk"
"Elon Musk confirmed both Tesla and SpaceX own Bitcoin during his discussion with Twitter CEO Jack Dorsey and ARK Invest CEO Cathie Wood today."
"In his opening remarks at The B Word panel, Musk said he is ultimately a supporter of Bitcoin and cryptocurrencies despite his skepticism towards proof of work concepts. He said the only public stock he owns is Tesla, but the only "three meaningful assets" he owns outside of company stock is bitcoin, ether and dogecoin, and that he owns "much more bitcoin than ether or doge.""


poison for the Bitcoin haters :)

I wonder how many times Musk has to lie to the public before the public realizes that Musk lies to the public?

Musk is just the modern PT Barnum.

The hyperloop is an old idea, and it was intriguing, when it was proposed back in the 1800's. There's a reason that it was never done. There was a Gene Roddenberry television show that featured it. It was called "Genesis II". Here it is:

https://www.youtube.com/watch?v=3IgdSZJQdWE

"enjoy" that - Roddenberry is a bit over-hyped, and although Star Trek was his idea, he didn't do all the development of it, and took a ton of credit that belonged to other people.

The "Boring Company" is a complete scam, on the same level as Solyndra. Here's Solyndra's solar panels:



Can you spot what's wrong with it? I use this as a test to see if an engineer is competent. Notice you can see white and through it? It's an obvious design flaw, blatantly obvious. There is ZERO advantage of using tubes over a flat panel. They are (far - more than 3 times) less efficient, they are more expensive to produce, and they waste space. Fucking incredible that our GOVERNMENT dumped 1/2 billion dollars into something that anybody with an OUNCE of competence in a technical field should see immediately is a stupid idea.

Elon Musk is just a fucking grifter. He's a welfare asshole. Tesla isn't the future, electric cars do NOT reduce pollution, the in fact increase it, they aren't "green", they are like ethanol - which is another fucking stupid idea where low quality fuel is made, by using more energy than to make the fuel than you can get out of it.

Everything is a fucking scam now. The biggest scams get the most attention.

Bitcoin is unworkable as a currency. Sure, it might got to a billion dollars for a bitcoin, it's not a currency. It's an obvious tulip. But whatever, if you've made a bunch of money on it, I'm happy for you. If you've made millions on it, I think you ought to consider cashing out a small portion and just throw it into something like gold, or silver, or platinum, or something tangible.

richwicks says

Everything is a fucking scam now.


typically Richwicks fashion everything is a conspiracy / everything is a scam.
You seem to be unable to see anything good in this world....there is nothing good in a company like Tesla who transformed the entire auto-market? Driving a Tesla is like an Iphone 12 Pro compared to a flip phone (driving a standard internal combustion engine model). But no....its all a scam. I probably should not make an analogy like that....in your world, Apple is probably part of a scam and/or conspiracy as well. Am I right?


Bitcoin is unworkable as a currency.

For the millionth time....nobody wants Bitcoin to replace the dollar. Its another investment class.....digital gold.....it solved the double spend problem.....its decentralized, peer-to-peer, borderless and safe. It has features that FIAT and GOLD can never have. That's why smart, successful people like Cathie Wood and Elon Musk invest in it.

remember when the Bitcoin haters (liars) tell you how Bitcoin is bad for the environment?
remember when the Bitcoin haters (liars) tell you that only China mines Bitcoin and none of the mining is carbon-neutral?

https://www.cnbc.com/2021/07/21/cryptomining-operator-core-scientific-going-public-via-spac.html?utm_content=Crypto&utm_medium=patrick.net&utm_source=patrick.net&fbclid=IwAR3YeCQyw3suMGLsrMe0X3MMrJscbzP7sjhm5QWsqIeanC5gJXEsTdOS0YQ&utm_campaign=patrick.net#Echobox=1626873932-1

"Critics say cryptocurrency has a negative impact on the environment because of its massive use of energy. It is a concern that Core has prioritized since its launch. The company runs a 100% net carbon-neutral business, with 56% of its electricity coming from sustainable sources, including solar, wind, hydro and nuclear. The company buys carbon credits to offset the rest."

"Core Scientific, a major U.S. bitcoin mining company, is going public via SPAC"

Bitcoin says

For the millionth time....nobody wants Bitcoin to replace the dollar. Its another investment class.....digital gold.....it solved the double spend problem.....

Haha, you know best. Whatever.

What happened to our Bitcoin haters??

They were soooo excited when Bitcoin briefly went under 30k......soooo excited......just to be slapped once again.

Dude our country is falling to communism. Last thing I care about is Bitcoin gambling.

Fortwaynemobile says

Last thing I care about is Bitcoin

no way! and so the Bitcoin-hate-cycle continues:


Bitcoin goes up > BTC haters: "We dont care" "We never cared" "Nobody cares"

Bitcoin goes down > BTC haters: Cheer, Rejoice. "We told you so" "Greater fool" "Poison" "Tulip" "Sell, sell, sell"

Bitcoin recovers and goes up > BTC haters: "We dont care" "We never cared" "Nobody cares"

Bitcoin says

Fortwaynemobile says

Last thing I care about is Bitcoin

no way! and so the Bitcoin-hate-cycle continues:


Bitcoin goes up > BTC haters: "We dont care" "We never cared" "Nobody cares"

Bitcoin goes down > BTC haters: Cheer, Rejoice. "We told you so" "Greater fool" "Poison" "Tulip" "Sell, sell, sell"

Bitcoin recovers and goes up > BTC haters: "We dont care" "We never cared" "Nobody cares"

Wait, that shit is up again?

I bet the guys who bought Bitcoin at $60,000+ are biting their nails.

I feel a bit like they do with my WFC shares. When it’s $54/share, “domp eet”

ChauvinsKnee says

Wait, that shit is up again?

yep, its up since ten years :) sry you missed the boat :) :)

clambo says

I bet the guys who bought Bitcoin at $60,000+ are biting their nails.

what you said when the last peak was at 20k :) :)

and how come you never mention investors who bought at 1k, 2k, 3k, 4k, or like me at 15k :) :)

clambo says

You only have a 130% gain? That’s not so great considering the risk and volatility.

The stock market has risen 105% in the last 5 years (Wilshire 5000) with much less risk.

typical for the BTC haters. Just mix timeframes together in a way that supports your narrative but avoid a performance comparison with the same parameters (timeframe).

130% since November 2020. I bought BTC at 15K last November....yes, 130% is pretty fuckin awesome. And you are telling me you compare that to !!5 years!! in the stock market??

BTW., I am heavily invested in the stock market as posted on this blog multiple times.

I wouldnt try to challenge me on performance.....You wont even come close to this one:
My average cost on Cardano (ADA coin) is $0.1 and its currently trading at $1.3. And I have over 102,900 ADA coins :)

Some people should just think twice before posting BS or just remain quiet.

I’m not impressed by the rapid gains in Bitcoin, because I didn’t take that huge risk and my AAPL and ROKU have outstanding capital gains and dividends (in the case of AAPL).

I generally own mutual funds, Apple and Roku were rolls of the dice.

As I mentioned, a bunch of Bitcoin owners bought in at $60,000+ and they are sucking a hind tit and biting their nails.

What if I suddenly had liked Bitcoin and sold some things to buy it at $60,000? I would be hating life.

Other guys are hating it too, but they hide their shame and don’t post anything anywhere.

clambo says

I’m not impressed by the rapid gains in Bitcoin

Not sticking to your story now.

First 130% since November 2020 until now wasnt good enough because the stock market made 105% over 5 years.

Now you say Bitcoins gains are rapid but you are not impressed. lol.

And then you come again with APPL which I own too and again you mention people who bought at the very peak of 60k for BTC and conveniently dont mention anyone that bought Bitcoin at 1k, 2k, 3k, 4k, 15k etc.

Typical BTC hater. You just cant handle the fact that Bitcoin has been around for ten years, never been hacked and had the best performance over the last 10 years (compared to any other asset class).

Speaking of BTC and crypto in general I would not be chasing the dream here in either BTC or ETH I'm just not feeling it. ;)
Trading them maybe ok but I wouldn't be doing it with the run to BTC 80-100k just yet. For instance I am seeing the FOMO for ETH
to take it to 3350-3600 and BTC 47k will be a tough neighborhood and >50k is a dream or a FOMO night mare for any chasing price
there if it happens to even get close so I see some short term profit but no breaking out to new ATH on either ATM IMO.
On the other hand stacking a few discounted alts might be the real ticket XDC is 1 I am looking at as a nice "spec trade" as well as
a few others. XDC use case white paper https://www.xinfin.io/#white-paper

In support of my last comment the DX retesting above that long term trend line in a pattern that could be termed a possible Cup & Handle or
the big "W" pattern could indicate some decent temporary USD strength "deflation". https://invst.ly/voc47
In unison it looks to me USD has high probability to break out as crypto, equities and metals dump and metals imo take the biggest hit
oil could be the largest benefactor during the process any retest lower is likelty to be bought up. Good times

Has anybody seen or heard from the Bitcoin haters? Its been awfully quiet.....Bitcoin must be up??



Sry haters....Bitcoin has its way to slap you left and right.....like clockwork.....Bitcoin correcting>>>the haters put their cheerleader gear on, Bitcoin goes up>>>silence

And when asked....the haters say>>>we dont care! We never cared!

Until Bitcoin corrects and the haters care all of a sudden. LOL

In truth and IMHO I would be sitting on the sidelines if I had cash to enter this market when it comes to BTC.

I absolutely stand on my last 2 comments in this posting and even more so now in that DXY has crazy high odds of blasting off.
For 1 reason the equities are getting a bit frothy indicating some risk-off taking place, not only can you see it in the USD strength you can also
see it in the CHF and JPY all 3 designated as safe $$$ risk-off plays making real the possibility of SP500 for instance tasting the 4k+/-
area at min. The other is the infrastructure bills which are stuck in the mud as these guys try and leverage their pet rocks and on top of this all
the Fed R is going to continue 120bill monthly bond and MBS buying. Regardless of all the continual USD crash talk that is very unlikely at least
in the intermediate time frame in this current environment "cash is king". Take your pick C&H or gigantic W both pointing UP!!! and that is a
very negative correlation to Equities and the Crypto markets...

Lets not forget the ascending triangle ;)

Is there a timeframe for SOON?

I dont know how soon for Tesla but United States’ second largest mortgage company, United Wholesale Mortgage will start accepting payments in Bitcoin and other cryptocurrencies such as Ethereum from the third quarter of this year 2021.
https://cryptotvplus.com/2021/08/second-largest-mortgage-company-in-the-us-to-accept-payments-in-bitcoin/

Time to flip BTC for ETH, not the time to FOMO and buy BTC. I only have dust left of BTC and hold a small amt of ETH
short term to trade for tokens such as XDC and ONE.