BitCoin
Quote: EvenBobYour inability to 'get it' has arrived.
Explain?
Are you personally insulting me?
Quote: darkozExplain?
I hate wising people up. The guy in the article doesn't care that Bitcoin went up after he sold it, that's the reason he sold it. Because it's a roller coaster ride, up and down up and down up and down, and he realizes he can't win. So he sold.
Quote: EvenBobI hate wising people up. The guy in the article doesn't care that Bitcoin went up after he sold it, that's the reason he sold it. Because it's a roller coaster ride, up and down up and down up and down, and he realizes he can't win. So he sold.
LMFAO
A guy who is known for investment in the stock market is worried about prices going up and down
Cramer sounds like a real idiot.
https://www.google.com/amp/s/www.fool.com/amp/investing/general/2009/11/16/why-you-shouldnt-listen-to-jim-cramer.aspx
https://www.quora.com/How-can-Jim-Cramer-be-wrong-so-many-times-and-still-have-a-financial-show
Quote: darkozLMFAO
A guy who is known for investment in the stock market is worried about prices going up and down
The stock market goes up and down very very slowly and some stocks almost never go down. Bitcoin is a suicide ride on a rollercoaster, most people can't win
Quote: EvenBobThe stock market goes up and down very very slowly and some stocks almost never go down. Bitcoin is a suicide ride on a rollercoaster, most people can't win
Year over year for the last decade the price of Bitcoin is higher.
What are you basing this statement on? One or two bad months?
Sorry to burst your bubble but so many people have attested to making profit with Bitcoin that your statement is nothing but simply misguided.
I know people on my block who don't invest in stocks who made hundreds of dollars off Bitcoin.
The real reason you never made any money on Bitcoin (even though you sadly could have invested at around $200 as you clearly knew about Bitcoin at the time) is because you missed the boat.
EVEN IF YOU BELIEVE IT'S A BAD INVESTMENT YOU COULD HAVE MADE A FEW HUNDRED GRAND
I do believe it's not schadenfreude you are experiencing but a feeling of being left behind on what could have been a huge windfall.
But hey you still got that roulette system, right?
Quote: darkozYear over year for the last decade the price of Bitcoin is higher.
What are you basing this statement on? One or two bad months?
Sorry to burst your bubble but so many people have attested to making profit with Bitcoin that your statement is nothing but simply misguided.
I know people on my block who don't invest in stocks who made hundreds of dollars off Bitcoin.
The real reason you never made any money on Bitcoin (even though you sadly could have invested at around $200 as you clearly knew about Bitcoin at the time) is because you missed the boat.
EVEN IF YOU BELIEVE IT'S A BAD INVESTMENT YOU COULD HAVE MADE A FEW HUNDRED GRAND
I do believe it's not schadenfreude you are experiencing but a feeling of being left behind on what could have been a huge windfall.
But hey you still got that roulette system, right?
I finally got my Coinbase Visa Debit card in the mail about three days ago. What am I going to do with it? If I use the card to buy lunch, do I owe capital gains on the transaction? lol I think so. I think I just lost my appetite.
METHOD. He doesn't have a system, he has a method.Quote: darkozBut hey you still got that roulette system, right?
Quote: darkozYear over year for the last decade the price of Bitcoin is higher.
Cramer feels that you just can't shrug your shoulders and act like it's not a big deal that China has apparently left Bitcoin forever. The Chinese understand money and currency better than anyone, they've been trading in it for thousands of years. If the Chinese feel Bitcoin it's not worth any more of their time and have cracked down on it, the United States cannot be far behind in taking drastic measures against Bitcoin. The Bitcoin he had he bought at $12,000 and paid off a mortgage on an expensive house with the profits and now he says he's done with it.
It transforms everyday investing into a virtual roller coaster. Who doesn't love a good rollercoaster?
It transforms everyday investing into a virtual roller coaster. Who doesn't love a good rollercoaster?
Quote: OnceDearMETHOD. He doesn't have a system, he has a method.
I have to laugh whenever one of you guys mentions roulette in these conversations because I then realize that I've won my point because you've run out arguments. When I took debate in college they would tell us never get personal when you're debating someone because it means you've given up, you've run out of ideas and all you have left in your arsenal is personal attacks. Throwing roulette at me is the equivalent of you saying "Oh yeah? Well your mother wears army boots." Which is the classic schoolyard taunt that goes back to after World War I. When you're losing an argument and have run out of ideas you taunt the kid by insulting his mother. In a debate when this happens it means you just won the argument. So thanks for mentioning roulette. LOL
Quote: billryanNo one can say China left it forever. They may welcome it tomorrow and then ban it again next week.
Cramer feels they left because they see Bitcoin as being structurally unsound. And so does he.
Quote: EvenBobI have to laugh whenever one of you guys mentions roulette in these conversations because I then realize that I've won my point because you've run out arguments. When I took debate in college they would tell us never get personal when you're debating someone because it means you've given up, you've run out of ideas and all you have left in your arsenal is personal attacks. Throwing roulette at me is the equivalent of you saying "Oh yeah? Well your mother wears army boots." Which is the classic schoolyard taunt that goes back to after World War I. When you're losing an argument and have run out of ideas you taunt the kid by insulting his mother. In a debate when this happens it means you just won the argument. So thanks for mentioning roulette. LOL
You fail again. Not surprisingly.
DarkOz uses the ridiculous roulette claims you have made to give an example of why you have no credibility. The long timers are aware of it already. It is not the same as insulting someone’s mother. Some new reader may not be aware of your lack of understanding of the basic concepts of gambling, and Darkoz just give that one simple example.
Quote: EvenBobWhen I took debate in college they would tell us never get personal when you're debating someone because it means you've given up, you've run out of ideas and all you have left in your arsenal is personal attacks.
Quote: EvenBobYour inability to 'get it' has arrived.
So basically you lost your argument. Or you don't take your own advice
Did they teach you in debate class to ignore questions about your previous statements when you can't back them up with facts or did you learn that on your own.Quote: AxelWolf. " when they are the ones who obviously don't know how it works."
I'm waiting for you to quote what I said that was inaccurate regarding how BTC works.
I would think you learned it on your own from years of experience of being wrong so often.
Quote: EvenBobCramer feels they left because they see Bitcoin as being structurally unsound. And so does he.
China will do what China is going to do. If they see a benefit to them, it will be back. If they can exploit it, they will.
Quote: SOOPOODarkOz uses the ridiculous roulette claims you have made to give an example of why you have no credibility.
No he doesn't. He uses it because he's run out of ideas and arguments, so he brings it up because he thinks it 'gets my goat'. He thinks it bothers me when people mention that they don't believe I beat roulette. Here's something I have not said in a long time. There's absolutely nothing anyone can say here to me about roulette that would bother me or hurt my feelings. I was on another forum for years, a gambling forum, that had no moderation. You could say anything you want to anybody. I was called every name in the book and names people hadn't even thought of yet when I talked about roulette. I had to grow a very thick skin to deal with it. So when it's mentioned here to try and insult me, it actually does the opposite, it makes me laugh. And oh yeah, the other reason it doesn't bother me is I actually do beat roulette. I beat it like it's a rented mule..
Quote: billryanChina will do what China is going to do. If they see a benefit to them, it will be back. If they can exploit it, they will.
They are looking pretty convincing at having given up, they are letting Bitcoin miners move thousands of computing devices out of the country to set up somewhere else. If they are pulling a bluff it's a pretty convincing one.
Quote: AxelWolfDid they teach you in debate class to ignore questions about your previous statements
Yes, changing topics is very much a part of debate. You are not on the stand under oath required to answer every question you were asked. In debate you are in charge of the way it goes, and so is your opponent. It's somewhat like a game of chess, there is defense and offense. But as soon as someone gets personal, as Darkoz frequently does, you have won a point from the judges.
Quote: billryanI'd say he is mocking your amazing lack of perception, but what do I know.
Personal insult -- Seven days.
China is kicking out their Bitcoin miners
And El Salvador has just embraced Bitcoin as a currency (in three months, whatever, it's passed their legislation).
China is upset over how much energy mining takes up.
El Salvador has suggested they utilize their natural volcanoes as a power source.
Mining was cheap in China. Pretty certain it will be cheap in El Salvador as well.
El Salvador move to embrace Bitcoin is to bring money into the country.
Prediction:. El Salvador welcomes with open arms the miners just kicked out of China.
Quote: AhighWell, I bought the coins for "research" just to learn more about how it works but putting some equity in the spot so I could stir it around and see what happens.
I got in a 134.99 earlier this morning for 2.06 units.
Hopefully you held onto those 2 bitcoins. $270 investment is worth $62,000 today….and over $120,000 a couple months ago.
Quote: darkoz
Prediction:. El Salvador welcomes with open arms the miners just kicked out of China.
El Salvador is incapable of providing electricity for its entire population, how is it going to provide enough power to run tens of thousands of energy sucking computers. Only 80% of the population can get power because the power infrastructure is so bad in El Salvador. Just one company that shut down in China that was mining Bitcoin had 300,000 computers. And you think that mining operation is going to set up shop in El Salvador. Just one decent-sized Bitcoin mining farm would use 75% of El Salvador's total electric output.
Quote: EvenBobYes, changing topics is very much a part of debate. You are not on the stand under oath required to answer every question you were asked. In debate you are in charge of the way it goes, and so is your opponent. It's somewhat like a game of chess, there is defense and offense. But as soon as someone gets personal, as Darkoz frequently does, you have won a point from the judges.
Winning debates doesn't mean you actually understand the topic.
In fact if in your day (60 years ago?) judges would remove points for personal insults, someone could win by simply trolling his opponent into insults while understanding zilch about the topic.
Most con men and hustlers are excellent debaters. Winning a debate proves you are a good talker, nothing more.
Quote: EvenBobEl Salvador is incapable of providing electricity for its entire population, how is it going to provide enough power to run tens of thousands of energy sucking computers. Only 80% of the population can get power because the power infrastructure is so bad in El Salvador. Just one company that shut down in China that was mining Bitcoin had 300,000 computers. And you think that mining operation is going to set up shop in El Salvador. Just one decent-sized Bitcoin mining farm would use 75% of El Salvador's total electric output.
You didn't read the part about volcanoes?
Quote: darkozWinning debates doesn't mean you actually understand the topic.
You seem to think but if you just keep saying I don't understand the topic that will make it true. Sorry, it won't. I obviously understand the topic just fine. And my understanding magically agrees with about 98% of the articles I read about Bitcoin. What a coincidence.
Quote: EvenBobYou seem to think but if you just keep saying I don't understand the topic that will make it true. Sorry, it won't. I obviously understand the topic just fine. And my understanding magically agrees with about 98% of the articles I read about Bitcoin. What a coincidence.
That just proves you are reading articles that reinforce your beliefs and ignore the ones that don't.
It's a common human foible.
To fully understand Bitcoin you need to understand how it works. The mechanics, the computing, etc.
You don't have to be an expert but at least some comprehension will help.
I asked before if you understand how Blockchain technology works. If you don't understand Blockchain, you don't understand Bitcoin
Quote: darkozThat just proves you are reading articles that reinforce your beliefs and ignore the ones that don't.
Actually I can't find any articles that don't reinforce my beliefs, there is a ton of negativity out there about Bitcoin. An avalanche of negativity. Maybe you can point me to all these articles you read that are positive. I sure can't find them. Recent articles in the last 10 days, not from 3 months ago or 3 years ago.
Quote: EvenBobActually I can't find any articles that don't reinforce my beliefs, there is a ton of negativity out there about Bitcoin. An avalanche of negativity. Maybe you can point me to all these articles you read that are positive. I sure can't find them. Recent articles in the last 10 days, not from 3 months ago or 3 years ago.
https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/stock-flow-analysis-worst-case-162600429.html
Quote: ChumpChangeWill bitcoin rise like gold
It's bothering a lot of people that bitcoin's price didn't shoot through the roof when China announced they were stopping mining. As someone pointed out if you were to close half the gold mines in the world the price of gold would double or triple and Bitcoin actually lost value. Now watch, someone will pop up and say they don't know how Bitcoin works. That seems to be the answer to everything. LOL
Quote: EvenBobIt's bothering a lot of people that bitcoin's price didn't shoot through the roof when China announced they were stopping mining. As someone pointed out if you were to close half the gold mines in the world the price of gold would double or triple and Bitcoin actually lost value. Now watch, someone will pop up and say they don't know how Bitcoin works. That seems to be the answer to everything. LOL
It seems EB thinks Bitcoin mining is akin to finding gold with a pick and a shovel.
If he actually understood how Bitcoin mining and Blockchain technology worked he might actually make some connections between why it's not about scarcity raising the price when the mining operations are shut down.
But what can you do with someone who claims to understand without doing any proper research
Quote: darkozhttps://www.google.com/amp/s/finance.yahoo.com/amphtml/news/stock-flow-analysis-worst-case-162600429.html
It's a fantasy article based on nothing. Notice it never mentions China anywhere which means it was written before China stopped making Bitcoin. Did you read the comments? They are all negative.
Comments:
These predictions are based on technical analysis, not fundamentals because Bitcoin DOES NOT HAVE fundamentals.
It’s clear that writers are not neutral. Rich people have bought btc at around 45k or more. They wanna get out and want common people to foot the bill. That’s why they are spreading this hype using their behind the scenes paid media.
The greater fool theory....I'm long bitcoin because I believe the world is filled with suckers.
I do not see bitcoin reaching 135k by December. I also do not believe it will reach 60k
Why does bitcoin stay around without earnings?
Quote: EvenBobIt's bothering a lot of people that bitcoin's price didn't shoot through the roof when China announced they were stopping mining. As someone pointed out if you were to close half the gold mines in the world the price of gold would double or triple and Bitcoin actually lost value. Now watch, someone will pop up and say they don't know how Bitcoin works. That seems to be the answer to everything. LOL
In the interest of education let me explain a bit EB.
Bitcoin mining is MORE THAN just finding Bitcoins. It's about validating transactions. When a transaction (you know someone uses Bitcoin to make a purchase) occurs miners validate the transaction which adds to the Blockchain and "mines" the coin.
In case it's not clear yet, if you shut down the mining, you shut down any ability to make transactions.
Comparison of Bitcoin mining to Gold and Diamonds just keeps making your knowledge on the subject show. If you shut down a gold mine, the gold already dug up is still usable for purchasing
So Gold mine shut down, makes Gold more scarce, yes raises prices
Bitcoin mining shut down, Bitcoins in existence can't be validated, purchases won't go through. Bitcoin less valuable as it can't be used.
That's a VERY SIMPLISTIC explanation. There is a lot more to it than that. But perhaps you understand Bitcoins are not rare Beanie Babies or rare Gold.
Capiche?
Quote: EvenBobIt's a fantasy article based on nothing. Notice it NEVER MENTIONS CHINA anywhere which means it was written before China stopped making Bitcoin. Did you read the comments? They are all negative.
I highlighted you don't think it mentions China.
It's literally the second paragraph.
Good way to prove you didn't read the article, lol.
Quote: darkozIt seems EB thinks Bitcoin mining is akin to finding gold .
I don't think anything, I'm just telling you what I was reading. How Bitcoin is made and where it comes from is irrelevant to the buying and selling of it. The vast majority of buyers do not give a flying banana about how Bitcoin is made. They just want to make a profit as fast as possible. Just like with all get rich quick schemes. . Merriam-Webster defines a pyramid scheme as “an operation in which participants pay to join and profit mainly from payments made by subsequent participants.” Sound like Bitcoin? If it looks like a pyramid scheme and sounds like a pyramid scheme, we should treat it like a pyramid scheme.
Quote: darkozI highlighted you don't think it mentions China.
I missed the part that mentioned China. But it changes nothing, it's still a fantasy puff piece written by a paid Lackey in the media to constantly sucker people into buying more Bitcoin. There are a thousand prediction articles like this out there that are based on nothing except fantasy. They fooled a lot of people for a long time but it's not working anymore.
Not a single positive comment from the people who bothered to leave a comment because the article didn't fool anybody except you, apparently.
Quote: EvenBobHow Bitcoin is made and where it comes from is irrelevant to the buying and selling of it.
That you can say that just proves volumes.
Debate won by me and you don't even know it, lol.
Perhaps if you learn how it works then your whole theory about it being a pyramid scheme goes out the window so you refuse to learn
And no, it doesn't sound like a pyramid scheme because you didn't correctly describe Bitcoin
Quote: darkozThat you can say that just proves volumes.
So you think how we get Bitcoin has something to do with how much it's worth on the market. Which is just wrong. As far as the buying and selling of Bitcoin nobody cares where it came from. Just like any other collectible nobody cares how a comic book was made or a Beanie Baby. Like any collectible Bitcoin has no intrinsic value. It has no value in and of itself. Salt has value because it's salty, sugar has value because it's sweet. Gold has value because it has a thousand uses. A comic book, a Beanie Baby, a baseball card, an Elvis Collector Plate, a Bitcoin, has no intrinsic value. They only have market value, what people are willing to pay for them. Outside of market value they have no use whatsoever. People do not buy number one Superman comic book because they like Superman. They buy it because they hope the market value will go up. The same with Bitcoin. People only buy it because they hope it will go up in price and they can make a profit. This is why it will never be currency, it will never be money, it will never be legal tender. It will only ever be Monopoly money used among traders of Bitcoin just like the play money used in the game of Monopoly. I know I know El Salvador, blah blah blah. Never going to happen and wouldn't work if it did happen. It would be a dismal failure almost immediately.
So when somthing looks like and sounds like somthing, we should treat it as such? E.g. your so-called roulette method should be treated as nothing but a betting system.Quote: EvenBobIf it looks like a pyramid scheme and sounds like a pyramid scheme, we should treat it like a pyramid scheme.
There are enough people who like and want them or the prices wouldn't get inflated in the first place.Quote: EvenBobPeople do not buy number one Superman comic book because they like Superman. They buy it because they hope the market value will go up.
Elon Musk’s Bad Bet: Bitcoin’s Dive Will Hit Tesla with a Q2 Loss
lol
Quote: EvenBobHeadline
Elon Musk’s Bad Bet: Bitcoin’s Dive Will Hit Tesla with a Q2 Loss
lol
Lol!!! TSLA only up 5% today. That ‘expected Q2 loss’ doesn’t seem to have investors shaking in their boots.
Quote: mcallister3200TESLA stock has never appeared to have much to do with their earnings.
Tesla has never turned a profit selling cars. Their profits have come from selling energy credits. Tesla's share price relies on faith, much like Bitcoin.
All the rich guys pooped their pants and started shoveling bucketfuls of money at Bitcoin till it recovered. They are still shaking and everybody's talking about $20,000 now. It's only a matter of time.
And yet for the month it's still up, and in the last 24 hours it's up, and over the last year, it's up 244%.Quote: EvenBob"Bitcoin plunged 30% to below $30,000 at one point, continuing a major sell-off in the cryptocurrency markets that began a week ago...The sharp drop means bitcoin had temporarily erased all its gains following Tesla’s announcement that it would purchase $1.5 billion worth of the cryptocurrency."
All the rich guys pooped their pants and started shoveling bucketfuls of money at Bitcoin till it recovered. They are still shaking and everybody's talking about $20,000 now. It's only a matter of time.
Quote: AxelWolfAnd yet for the month it's still up,
That's what grandpa said, look, it's still halfway up. Grandma was not impressed as to the prospects for the future
