2
0

but bitcoin!! bitcoin bitcoin!!


 invite response                
2021 Feb 23, 10:09am   14,802 views  368 comments

by Zak   ➕follow (0)   💰tip   ignore  

I just saw bitcoin silence today and wondered wtf, where was all the cheering?
I know it's still up at like 40k, but uhh.. how did 20% of this amazing store of value evaporate in 2 days?

Hint. this is still speculation even though it is up.

Have fun speculating, but remember to limit your exposure, and diversify your investments.

« First        Comments 73 - 112 of 368       Last »     Search these comments

73   Zak   2021 Mar 2, 2:39pm  

@g36 ahahahahahahahahahaahahahahahahaha.

fyi, my comment was moderated because I posted it from a temporary laptop I'm using that wasn't logged in.

I like how you refuse to answer any serious question though... just shove your fingers in your ears and shout louder. It's fun to know that every time you post on this thread, you bump my bitcoin is garbage title back into the top of the discussion. That was the point!
74   WookieMan   2021 Mar 2, 4:48pm  

G36 says
SoCal is a nice place

Not to live. Fine to visit. It's a shit hole compared to where I live if you're talking people and homelessness, which is what it actually is. Working people work, sleep, take their kids to activities and travel. We don't ride bikes over needles and shit.
75   Patrick   2021 Mar 2, 6:52pm  

Zak says
fyi, my comment was moderated because I posted it from a temporary laptop I'm using that wasn't logged in.


That's true. If you comment while not logged in, it goes into moderation because I don't know it was really you who posted. (no password)
76   Bitcoin   2021 Mar 2, 8:35pm  

WookieMan says
to live

correct. SoCal is the best place to live.
77   Bitcoin   2021 Mar 2, 8:37pm  

Zak says
@g36


I never saw your comment. Usually, when Bitcoin haters make personal comments, our moderators catch and flag. Its awesome.....that way we keep it civil.
Let us know what other questions you have regarding precious digital gold coins.

78   Patrick   2021 Mar 2, 9:41pm  

https://fortune.com/2021/03/01/bitcoin-bubble-michael-burry-big-short-investing-btc/

There are plenty of Bitcoin bulls evangelizing the digital currency these days, but Michael Burry, the focus of the film and book The Big Short, is not one of them.

Burry, in a now-deleted tweet, warned that Bitcoin’s current levels are unsustainable—and current investors could suffer significant losses.

"$BTC is a speculative bubble that poses more risk than opportunity despite most of the proponents being correct in their arguments for why it is relevant at this point in history," he wrote. "If you do not know how much leverage is involved in the run-up, you may not know enough to own it.”

Burry knows about bubbles, having made a fortune off the housing market’s collapse in 2007. And he warned that Bitcoin’s recent ascension seemed reminiscent of that time.
79   WookieMan   2021 Mar 3, 4:12am  

Patrick says
"If you do not know how much leverage is involved in the run-up, you may not know enough to own it.”

Can't remember which user here has been posting the volume of margin borrowing. Super high increases Nov. to Jan. Haven't seen an update from him lately though, unless I missed it.

I'd bet that a lot of that was retail investors. Why not? If the stock market keeps defying logic, it's a low interest credit card to gamble in the crypto casino or keep yourself afloat after losing a job. If the margins start getting called on a dip in the stock market, retail is going to want to keep their stocks and bail on crypto.

BTC is barely older than my kid, has no assets, no physical value and no one actually uses it as a "currency" compared to fiat. The value is based on the USD or other fiat. How else do you buy crypto? With other crypto? lol. All bought with USD to gain "entry" to the game. It's as obvious as can be to see the house of cards.
80   Bitcoin   2021 Mar 3, 8:19am  

Patrick says
https://fortune.com/2021/03/01/bitcoin-bubble-michael-burry-big-short-investing-btc/

There are plenty of Bitcoin bulls evangelizing the digital currency these days, but Michael Burry, the focus of the film and book The Big Short, is not one of them.

Burry, in a now-deleted tweet, warned that Bitcoin’s current levels are unsustainable—and current investors could suffer significant losses.

"$BTC is a speculative bubble that poses more risk than opportunity despite most of the proponents being correct in their arguments for why it is relevant at this point in history," he wrote. "If you do not know how much leverage is involved in the run-up, you may not know enough to own it.”

Burry knows about bubbles, having made a fortune off the housing market’s collapse in 2007. And he warned that Bitcoin’s recent ascension seemed ...


During a Bull Market there is always someone seeking 15min of fame. How often have we read article saying "expert who called the last housing bubble predicts crash in 2016, 2017, 2018, 2019, 2020, 2021, 20xx?
81   WookieMan   2021 Mar 3, 8:57am  

G36 says
During a Bull Market there is always someone seeking 15min of fame. How often have we read article saying "expert who called the last housing bubble predicts crash in 2016, 2017, 2018, 2019, 2020, 2021, 20xx?

No one of substance has been predicting a housing crash. The fundamentals are substantially better in the loan/debt market even though prices are rising. Housing crashed because of shit lending practices and then bundling those loans as something worth investing in.

So you take the biggest investment in an individuals life, improperly give them a loan, and then sell the debt as valuable and safe. No one is predicting a housing bust. No one is looking for 15 minutes of fame. It's just analyzing what is in front of you. A spreadsheet that is as worthless as the stripper that borrowed the cash for a condo.
82   GNL   2021 Mar 3, 9:04am  

WookieMan says
No one of substance has been predicting a housing crash.

I know a few Realtors and a Broker who are predicting it without flinching for whatever that's worth.
83   WookieMan   2021 Mar 3, 9:24am  

WineHorror1 says
WookieMan says
No one of substance has been predicting a housing crash.

I know a few Realtors and a Broker who are predicting it without flinching for whatever that's worth.

They're local though. Nationally housing is in relatively good shape. As with covid, the reaction to a crisis can be learned from. Banks won't foreclose and trash their books, they'll work it out with homeowners. I was hands on with REO properties during the crash. Banks fucked up big time and know it.

Commercial RE is a different animal. I could see a crash there, but that is mainly a stock/REIT thing and wouldn't hurt main street that bad. Retail and office will get trashed, but I think much of that may have played out.

Could housing dip, sure. I was addressing a "crash" as I don't see anything pointing to that. It will go flat for a while if anything. Besides places in TX, FL, CO and MT, most the country is on solid ground. CA prices likely won't move much even with people fleeing. There are some boom towns in the states mentioned and others, but it's not anything that will drag down the entire economy like 2006-8.
84   Bitcoin   2021 Mar 3, 10:38am  

The haters are so quiet today......probably because Bitcoin is above 50k :) :)
Sry guys, you missed another buying opportunity!
85   Bitcoin   2021 Mar 3, 10:44am  

@Zak, i hope you bought some satoshis on this dip? Back to 51k....:) congratulations if you bought some!
86   Zak   2021 Mar 3, 10:51am  

@g36 My dirty sock price went up to $100 from the previous $75. You missed the dip! BTW, my dirty socks are outperforming bitcoin recently. 75 -> $100 is a 33% increase, bitcoin has only recovered from $45k -> $51k .. a mere 12% increase.. Hurry and buy some of my dirty socks before you miss the next run up!

BTW, you continue to ignore the misinformation in your laugh out loud funny infographic. I pointed it out very clearly, giving you the opportunity to respond... Still silence?
87   Zak   2021 Mar 4, 9:54am  

@G36 back to what?
88   Onvacation   2021 Mar 4, 10:00am  

Zak says
@g36 My dirty sock price went up to $100

Clean ones are cheaper.
89   Onvacation   2021 Mar 4, 10:00am  

Zak says
@G36 back to what?

It's just a matter of time.
90   WookieMan   2021 Mar 4, 10:19am  

Zak says
I pointed it out very clearly, giving you the opportunity to respond... Still silence?

You won't get a response. That's why I give him a hard time in other threads. Apparently he likes to do the same thing over and over with no joy in life.
91   Zak   2021 Mar 4, 11:03am  

@onvacation .. that's the point.. bitcoin burns more fossil fuel than entire countries, for a speculative mania with no underlying value. My dirty socks make a nice parallel.
92   Bitcoin   2021 Mar 4, 11:04am  

@Zak
great buying opportunity. Bitcoin gives you chance after chance! Use it :)
And thank me later!
93   Onvacation   2021 Mar 4, 3:35pm  

Zak says
that's the point.. bitcoin burns more fossil fuel than entire countries, for a speculative mania with no underlying value. My dirty socks make a nice parallel.

I know.

I have been trying a lot of analogies to try to help some people understand that bitcoin is not "gold 2.0".

And who says your smelly socks have no value?
94   Bitcoin   2021 Mar 4, 4:18pm  

Gold 2.0 / Bitcoin and energy consumption....for those that want to be educated :)

https://www.coindesk.com/the-last-word-on-bitcoins-energy-consumption
95   Bitcoin   2021 Mar 7, 8:47am  

51 K is a great price for Bitcoin! With so much institutional demand and the scarcity of Bitcoin nobody should be surprised to see a 150K Bitcoin this year.

@Zak so quiet today?

96   Onvacation   2021 Mar 7, 9:02am  

G36 says
so much institutional demand

You do know that "institutional" demand is really just retail demand from wackadoodles that think crypto is the new gold mined by miners so they can HODL it in their wallets for when it becomes the new currency that will be worth millions in fiat per coin?

Don'tcha?
97   Bitcoin   2021 Mar 7, 9:56am  

one of the institutions some of you know is Tesla!

https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html

Tesla buys $1.5 billion in bitcoin, plans to accept it as payment
98   Onvacation   2021 Mar 7, 11:21am  

G36 says
one of the institutions some you know is Tesla!

and some you don't
99   Bitcoin   2021 Mar 7, 11:47am  

Microstrategies is another great tech company that understands the value in investing in digital gold

https://news.bitcoin.com/microstrategy-acquires-another-10-million-in-bitcoin-company-balance-sheet-nears-100k-btc/
100   Bitcoin   2021 Mar 7, 11:48am  

another great company that HODL's Bitcoin is square. Some of you must have heard of Square.

https://squareup.com/us/en/press/2020-bitcoin-investment
101   Bitcoin   2021 Mar 7, 12:10pm  

@Zak

remember this quote? "I just saw bitcoin silence today and wondered wtf, where was all the cheering?"

is it because of this?

102   Zak   2021 Mar 7, 1:27pm  

@g36 .. nope.. I can consistently say Bicoin is a scam no matter if the price is up OR down. I can also respond to your statements or questions with logic and reason as opposed to your silence and avoidance for any debateable point I bring up. Guess we can keep this bitcoin is garbage thread alive a bit longer. BTW, I may be silent for stretches of time as I am currently repairing drywall in a water damaged bathroom. I can do that because I just look at the logical next steps to complete that task, and use references and information where I have a gap in knowledge. And I'm not afraid of making a few mistakes..

But I'm also not buying 6000 lbs of drywall mud. Do you know why? Drywall mud has a very specific and limited use. I need a tiny amount of it for a very specific purpose. Even though the price of it has risen, and it costs me more today to buy it that it did 6 months ago, I still only buy 20lbs at a time. That ends up lasting me for several projects.. What's the purpose of bitcoin again?
103   Bitcoin   2021 Mar 7, 6:47pm  

Zak says
What's the purpose of bitcoin again?


to HODL. Tesla for instance bought 1.5B USD worth of Bitcoin to hodl.

I bought 1.9 Bitcoin for 28K total as a 1year investment. Now its worth over 100k :) In less than 6 month! not only can you buy a bathroom with this but for some people this profit might be a down payment for a house. And the great news is we are early in the Bitcoin bull cycle!! I am not selling anytime soon.
104   WookieMan   2021 Mar 7, 9:52pm  

G36 says
I bought 1.9 Bitcoin for 28K total as a 1year investment. Now its worth over 100k

It's worthless until you sell it. Making $72k on paper in 6 months is rather trivial, but good for you. That's a quarterly thing in my world.
105   Bitcoin   2021 Mar 8, 6:54am  

I remember when bears and bitcoin haters cheered back in 2018 when Bitcoin entered a bear market. These people really thought, Bitcoin will never go back to 20k.
Some crazy ones even called for Bitcoin at 1.2k. LOL

Here we are, Bitcoin sits at 50k :) Don't you love the times we live in?

106   Onvacation   2021 Mar 8, 6:57am  

G36 says
is it because of this?

G36 says
Here we are, Bitcoin sits at 50k :) Don't you love the times we live in?


See a pattern?
107   Bitcoin   2021 Mar 8, 6:58am  

absolutely! The pattern goes up, up and up
108   WookieMan   2021 Mar 8, 8:34am  

G36 says
absolutely! The pattern goes up, up and up

Nope. Doesn't pay dividends. It's been worthless most of the time it's been around unless you got absolutely lucky and bought before 2 big peaks. All other times it was dead money and you could have made much more in other investments. By definition it's a bad investment.

There's also this thing called owning a business where the chart looks a lot better if you put some time in, instead of chasing get rich quick schemes. My chart outperforms this one and it keeps paying me while I don't invest any money into it that comes out of my pocket. Other people pay for it. You'll eventually learn. BTC is not an investment and you're going to get burned. Your choice though, but I'll continue to bash it because you're the guy that promotes smoking because it's the cool thing to do. It's not.
109   Bitcoin   2021 Mar 8, 8:36am  

very bullish that Tesla and other institutions pour billions of USD into Bitcoin. Luckily I was early (bought in November)
My investment was around 28k for Bitcoin and another 25k or so in other precious cryptos.

My Bitcoin holding is already at a 100k ish. Thanks Tesla!

110   WookieMan   2021 Mar 8, 8:38am  

G36 says
very bullish that Tesla and other institutions pour billions of USD into Bitcoin. Luckily I was early (bought in November)
My investment was around 28k for Bitcoin and another 25k or so in other precious cryptos.

My Bitcoin holding is already at a 100k ish. Thanks Tesla!

Who are you even talking to? This is spam.
111   Bitcoin   2021 Mar 8, 8:42am  

I should say, thanks Tesla and all the other institutions that buy Bitcoin like there is no tomorrow.
112   WookieMan   2021 Mar 8, 8:46am  

G36 says
I should say, thanks Tesla and all the other institutions that buy Bitcoin like there is no tomorrow.

Tesla is not a member on Patnet, and no decision maker from Tesla is on this site. Who are you talking to? This is pure spam.

« First        Comments 73 - 112 of 368       Last »     Search these comments

Please register to comment:

api   best comments   contact   latest images   memes   one year ago   random   suggestions   gaiste