BITCOIN

adindas

bugbyte_2 said:

Nope.

Just you.

Over 

and 

over

again.

P.S. Leave hearing impaired people alone.  

In your previous post you challenge me to prove. I did answer your challenge because I do not want to be called a liar. It took me sometime to find it and I am not getting paid for it. This time I turn this challenge to you, I will let you find out and prove it yourself, just for your own satisfaction.

I highlight your previous insensible comment like

"I prefer to take my financial advice from Wil Wheaton" ,

"They are not necessarily his personal views. You do know this? "

When I present Matt Damon video for the crypto.com ad. Fortune favours the brave.

bugbyte_2 said:

 

Also, stupid argument. No one has said that BTC cannot be swapped for whatever the current rate is. It clearly has a 'value' although its value is completely moot until the second you swap it for something tangible. Your life savings of £50 in BTC is not worth £50 until you swap it for 50 actual £. I cannot speak for anyone else but personally I think the only value BTC has is market sentiment - i.e. no underlying fundamentals to give it value. (and before you whittle on about Tesla not making a profit for years, fundamentals included projected future earnings). Therefore it has no real value outside what others will pay for it.

But that's ok because its my opinion. This does not mean I am deaf(? Ableist - it is 2021 you know) or have any other disability, believe in the earth being flat which appears to be a thing with you or suffer from FOMO. 

You are right (I think, its quite hard to follow your arguments) in so far that the technology has value and use but I believe Ethereum has superseded BTC, which just leaves BTC with its legacy value, which at some point people will start to realise. In any case the tech isn't the coins themselves in exactly the same way that owning a Fillet 'o' Fish does not mean you own a slice of McDonald's. If I were to invest it would be in the companies developing the tech not the coins. 

You also completely miss why and what people invest, but I CBA to extend this any further than it has to.

 

Well, more stupid reasoning imo because you acknowledge you do not know how to value the BTC and high growth stocks in general but talking a lot of bla bla bla nonsense about valuation. As it seems that the dialogue has turned out to become the dialogue of the deaf, I will be using a more authoritative approach, using multi billionaires who understand well on both sides investing and technological side; where ordinary people have very little doubt that they know what they are doing.

Do you ever believe that the multi billionaires, who understand well on both sides investing and technological sides will fall into "the greater fool theory", decide to invest in BTC and other major cryptos if it has very little or no value hoping to sell it to another fool ? Some of them are even bought them quite recently (e.g., this year) when they are already higher than US$40,000+. I spell out who they are many times on my previous posts.

Do you know better than these multi billionaires who put BTC and other major cryptos on their balance sheet. Add that with tons of acute hedge fund managers outthere who bought BTC this year when BTC are much higher than the previous year.

Do you know better than them? Do you think your financial advisor (if you use them) know better than these people who have proven track records of making multi billions usd?

Yes Pyramid Scheme, Ponzi scheme, "the greater fool theory", do exist and historically known to fool people outthere. When an asset is associated with "the greater fool", based on statistics it took roughly six years on average for that to be discovered by the fools; When it may eventually pan out. How long BTC has been in existence?? To let you know BTC was launched on Jan. 3, 2009. Yes investing in major cryptos is very risky, very volatile but it does not assert that, the greater fool theory applies on this asset. In investing world there are a lot of fools outthere. In this case the fools are the people who bought it near the peak (FOMO buying) and then they sell it when they see the price drop significantly (Panic selling). Some fools do allocate a very large proportion of their life saving, pension on a very risky, volatile assets.

In the past I posted the performance of MARA (Bitcoin and altcoins Mining)

This company is not mining minerals, precious metals, Oils, harvesting crops, vegetables, food which everyone understand to have value, but they are mining Bitcoin. For some people in this thread, they are mining sh1te, worthless asset with only the fools will buy, hoping to sell it to another fool at a higher price.

But guess what this sh1te miners multiples your money 35X+ (Repeat: thirty five times) in less than a year.

Also just because you do not know how to value them, it does not mean they have very little value like what you thought.

See what this wall street analysts are valuing this MARA stock where for some people they are mining worthless assets (mining sh1te). Do you think you know better than these wall street analysts?

cheapskate1983

Pearce7630 said:

Is investing in Bitcoin really worth it or is it all just a scam ? 

As someone who has made well over 6 figures in Bitcoin and other cryptocurrencies in the last 2 years I can tell you that the vast majority of the cryptocurrency market is a scam. Proof is in the picture below: Not bragging, just being up front and genuine..

1 of my many portfolios. 

The question you should ask yourself is are you willing to research the market and find out which cryptocurrencies are genuine stores of value?

There are a lot of snake oil salesmen in the crypto-market. Everything from signal groups to exit liquidity pumpers. 

I've been in the market since Feb 2019, after I had to write a huge essay for my Open University Comp Sci degree.

I've became friends with a lot of great influential people including the legendary twitter bear 'Cryptowhale'. Proof below. Big picture.



To put it bluntly the whole cryptocurrency market is propped up by a stabelcoin called Tether and IT IS NOT BACKED 1 for 1 against the Dollar. Tether cash reserves are about 3% and currently they are scrambling to create Bonds with El Salvador to try and fix their phony balance sheets. 

Bitcoin is a bad investment choice right now. Especially at the current price. 

From July 2021 to the current day the volume against the USD and GBP was terrible low but volume in Tether is high. 
Tether have been printing non stop to keep the Bitcoin price up. 

The Bitcoin metrics which you can view on the website Coinmetrics dot io show the real truth of the Bitcoin market and the future price of the network in the coming months. Big wallets have been dumping on retail investors since 2018!!


 
Ethereum is also in a similar position as Bitcoin to April 2020 so please don't invest in that. You will get rug pulled and rekt. 

I'm in the top 0.2% of XRP wallets and I've been through a lot of hard market plays. I can tell you that every person in crypto will try and shill you the coins that they hold. Im not tell anyone on here what to buy because YOU NEED TO DO YOUR OWN RESEARCH.

Being a free thinker and literally learning about the cryptocurrency market is the best weapon you have in making money in this market. 

An easy method to make money in Bitcoin is buy when there is extreme fear and sell when there is moderate greed. 
Red line = greed
Green line = fear.



Hope this is helpful. 

Scottex99

This is going to get interesting now but see other thread. 

Calls Tether a scam but openly holds XRP. 

Oh and $250k doesn't make you a whale, FYI

Section62

adindas said:

More stupid reasoning because you acknowledge you do not how to value the BTC and high growth stocks in general but talking a lot of bla bla bla nonsense about valuation. As it seems that the dialogue has turned out to become the dialogue of the deaf, I will be using a more authoritative approach.

If you aren't understanding the inappropriateness of that phrase, despite two different people pointing it out to you, how can you expect people to give credence to your analysis of the far more complicated subject of crypto?

adindas said:

See what this wall street analists are valuing this MARA stock where for some poele they are mining worthless assets (mining sh1te). Do you think you know better than these wall street analysts

Never has a typo been more accurately used.

bugbyte_2

@adindas

Re: Warren Buffet and you telling others what they think. You found one post from five months ago where the poster was responding directly to your post and was therefore in context about something you wrote. Sorry, but that does not constitute 'people' following WB blindly, and was 70 odd pages ago. So yes you have been called out because to be honest constantly telling others what they think whilst insulting them is annoying, especially when you are so, so wrong. 

Re: Matt Damon and fortune favours the brave. If you are relying on being 'fortunate' to make money then good luck to you but that is very close to gambling. The rest of us will do the usual calculated risk vs reward thing.

Re: Something about multi billionaires (excluding the ones that do not share your world view). Where does the money come from to drive bubbles? In 1999 Jeff Benzos heavily invested through Amazon in Pets.com and owned 54% of the company. The company then raised $82.5 million in a February 2000 IPO but filed for bankruptcy nine months later. Pets.com's business model was laughable in hind sight, but people, inc. JB still piled in. So yes, people do get it wrong.  

Not speaking for others but you can acknowledge that blockchain exists, has uses and coins can make a spectacular return on investment (if you get 'fortunate') whilst also acknowledge that most coins esp. BTC does depend to varying degrees on greater fool and there is no clear way of ascertaining value apart from market sentiment.

Anyway, here's a picture to make you happy.

Zola.

Crypto Whale is a lying scammer. Jesus I'm gonna stop coming to this thread. So much nonsense and life is too short 😂

Scottex99

And here I was hoping for a nice 30 post argument about Ripple

grumiofoundation

Scottex99 said:

And here I was hoping for a nice 30 post argument about Ripple

I prefer a twirl myself. 

Frequentlyhere

Zola. said:

Crypto Whale is a lying scammer. Jesus I'm gonna stop coming to this thread. So much nonsense and life is too short 😂

Who would they be gaining from?  In any case (maybe I'm wrong) isn't all of the information they supply a matter of public record?

Frequentlyhere

@cheapskate1983 , too right about Tether and the wider implications. That unwinding, as it must one day, is going to be a bloodbath.
Just unbelievable that this set of circumstances has allowed an ex-cosmetic surgeon and his shadowy pals to print $70bn+ of "money".