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the amount of money flowing into and out of bitcoin is literally a zero sum game it's actually a negative sum game since mining is just a net constant negative cost on the system you're gonna have winners and losers but that's nothing to crow about
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Jul 9, 2018 05:07
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He forgot to mention this is a dead gay forum which he usually says after every post....weird
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Jul 9, 2018 05:13
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gary oldmans diary posted:im a fan of revision of past conversations but i saw one that went we've been over the negative sum part about a dozen times ITT already. there are comparatively few actual losers, both because there aren't that many people who got in specifically in December/January and because the bulk of the cashout process was 'funded' by a relative handful of oligarchs + Wall Street getting in late in the game for huge sums. this is set to continue going forward, since the retail hype has worn off enough that the funds coming in are mostly institutional. while it's true less money comes out than goes in, many more actual humans are up than down. at some point this will change but unless prices completely collapse it won't happen for years. also, every time I or anyone else claim to have cashed out any money we get called out by multiple idiots so I'm not sure what part of "goons: no one makes money" is far fetched.
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Jul 9, 2018 05:25
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this is all actually negative-sum game
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Adar posted:we've been over the negative sum part about a dozen times ITT Adar posted:also, every time I or anyone else claim to have cashed out any money we get called out by multiple idiots so I'm not sure what part of "goons: no one makes money" is far fetched.  youre the only self-admitted coiner that has any of my respect and i hope your name is a UCB reference but your approach to arguing is 
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Jul 9, 2018 05:41
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As an aside money laundering is not an activity that makes money. It transforms money, probably at a loss.
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Jul 9, 2018 05:47
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Salt Fish posted:As an aside money laundering is not an activity that makes money. It transforms money, probably at a loss. Isn't it always at a loss, (if only because you're paying for the laundering) but that's fine because 50-60-70% of your cash that you can use is better than 100% that you can't?
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Jul 9, 2018 05:49
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Salt Fish posted:As an aside money laundering is not an activity that makes money. It transforms money, probably at a loss. this kind of speaks to the general legitimacy crisis that society is facing as a result of the victory of capitalism over socialism. money is the only thing that matters, so what does it matter that the money is illegitimate?
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Jul 9, 2018 05:49
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gary oldmans diary posted:if we go over it a million times posting anecdotes still wont disprove it. youre so hung up on what you want to talk about that you arent paying attention to what the post you were responding to said To be totally honest I’m more stream of consciousness than I should be right now because I just moved continents and do a shitload of forum posting on mobile where I can’t see what I’m responding to, so yeah there’s probably something to that. I think imma just shut up itt until I have an organized workspace in a week or two.
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Jul 9, 2018 06:04
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 blow off small disputes, engage and win decisively with the large
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Jul 9, 2018 06:06
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Adar posted:To be totally honest I’m more stream of consciousness than I should be right now because I just moved continents and do a shitload of forum posting on mobile where I can’t see what I’m responding to, so yeah there’s probably something to that. I think imma just shut up itt until I have an organized workspace in a week or two.
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Jul 9, 2018 06:07
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Nessus posted:Did you move continents... WITH YOUR BITCOIN WEALTH?
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Jul 9, 2018 06:11
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Adar posted:
Nearly every person who has responded to you today has acknowledged that there are winners and losers. What do you think they think a winner is? The conversation began with you stating that the alt-righters are up vast amounts and you've taken "maybe but we have indicators suggesting that the true believers probably haven't cashed out much" as meaning "no one ever actually cashes out", a position that no one in this thread is actually taking
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Jul 9, 2018 06:44
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hes already decided to take a break from the thread. everyone but me is too late to say things  
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Jul 9, 2018 06:52
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Adar posted:there are comparatively few actual losers hi
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Jul 9, 2018 07:05
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Is Adar doing his wholly unsupported "the only people that lost money are Wall Street oligarchs" schtick again?
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Jul 9, 2018 11:12
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Adar posted:also, every time I or anyone else claim to have cashed out any money we get called out by multiple idiots so I'm not sure what part of "goons: no one makes money" is far fetched. It's like when during a discussion of gambling and how the house always wins if some dude busts in to go "well, I bet on 24 on the roulette wheel and I WON so therefore," Adar posted:there are comparatively few actual losers hahahahahahaha Lambert posted:Is Adar doing his wholly unsupported "the only people that lost money are Wall Street oligarchs" schtick again?
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Jul 9, 2018 11:15
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there are comparatively few actual losers in this mostly-rigged speculation bubble the general public got in on just before a huge price drop
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Jul 9, 2018 11:44
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this is maybe the only place on the internet where it's the nocoiners that look like dumb zealots its really surreal
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Jul 9, 2018 14:23
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gary oldmans diary posted:hes already decided to take a break from the thread. everyone but me is too late to say things nah I'm just stopping effortposting for a week, shitposting can be done on a phone gary oldmans diary posted:pretty sure he made way more with conventional gambling conventional gambling stakes are a lot lower
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Jul 9, 2018 14:54
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Business posted:this is maybe the only place on the internet where it's the nocoiners that look like dumb zealots its really surreal At yet you used nocoiner unironicly 
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Jul 9, 2018 16:38
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Business posted:this is maybe the only place on the internet where it's the nocoiners that look like dumb zealots its really surreal source your quotes
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Jul 9, 2018 20:47
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quote:also, every time I or anyone else claim to have cashed out any money we get called out by multiple idiots so I'm not sure what part of "goons: no one makes money" is far fetched. Actually this is accurate. I have advocated against Bitcoins and any cryptocoins for a long time (I got to know about Bitcoin in these forums. I've been following this since the Bruce Wagner era. When my friends started talking about this due to media coverage I was already ages ahead), and still it also irks me that the answer to someone who says that they cashed out is "no lol you still have money in btc you can't ever cash out you are an idiot" (don't make me go and dig one of the multiple instances of this happening). It's really annoying when people you agree with act so tribally. Yes some people cashed out, people in bubbles can cash out during the rising slope and leave other people hodling, what's the big deal.
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Jul 9, 2018 23:01
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AndreTheGiantBoned posted:Actually this is accurate. I have advocated against Bitcoins and any cryptocoins for a long time (I got to know about Bitcoin in these forums. I've been following this since the Bruce Wagner era. When my friends started talking about this due to media coverage I was already ages ahead), and still it also irks me that the answer to someone who says that they cashed out is "no lol you still have money in btc you can't ever cash out you are an idiot" (don't make me go and dig one of the multiple instances of this happening). It's really annoying when people you agree with act so tribally. Yes some people cashed out, people in bubbles can cash out during the rising slope and leave other people hodling, what's the big deal. Adar sign out of your sock account, its last post in this thread was April 19th
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Jul 9, 2018 23:13
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man I miss bruce wagner and him not understanding computers I miss that time they hired random people to host bitcoin spanish or something and we got the guy to twist his foot and blink twice since he was under duress
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Jul 10, 2018 00:39
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I remember when the phone fell of Bruce's chair because goons kept phoning it.
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Jul 10, 2018 00:45
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I'm remembering a drone indoors, or am I making that up?
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Jul 10, 2018 01:51
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IPCRESS posted:I'm remembering a drone indoors, or am I making that up? no, that was a thing that happened
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Jul 10, 2018 02:33
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AndreTheGiantBoned posted:Actually this is accurate. I have advocated against Bitcoins and any cryptocoins for a long time (I got to know about Bitcoin in these forums. I've been following this since the Bruce Wagner era. When my friends started talking about this due to media coverage I was already ages ahead), and still it also irks me that the answer to someone who says that they cashed out is "no lol you still have money in btc you can't ever cash out you are an idiot" (don't make me go and dig one of the multiple instances of this happening). It's really annoying when people you agree with act so tribally. Yes some people cashed out, people in bubbles can cash out during the rising slope and leave other people hodling, what's the big deal. I'm perfectly willing to work under the assumption that people lie about their crypto gains in the same way people lie about any other gambling or day trading losses. Usually by omission. Not to harp on Adar, but the last anecdote he posted was someone who made $3 million and then dropped back to $200k. Normally that story ends at $3 million. The root of this conversation was a goon with a pretty sketchy history claiming he doesn't have to work any more because of his crypto gains. Maybe he's telling the truth, but I'm not going to believe it unless I see some receipts.
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Jul 10, 2018 02:35
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Sickening posted:When you sit down and do the math of what it would have taken to gamble enough to retire from bitcoin it becomes absurd. You had to have gone as deep as possible under the best of conditions. You had to buy aggressively with whatever pittance you had to start out with, cash out, buy in, repeat. Every one that wasn’t part of an exchange, scamming an Ico, or was already rich made enough gains to actually retire. It’s a sad pipe dream made up by idiots. It’s something you claim because you are dumb enough to believe it was somehow feasible. Saying "let's see what happens" in 2014 would yield at least a 60x return. ETH in in 2015 would be a 600x return. To say it's just impossible that anyone threw $5,000 at any of those times is pretty stupid. When goons originally laughed at it, bitcoins were going for 10 cents. Harry fucked around with this message at 03:14 on Jul 10, 2018 |
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Jul 10, 2018 03:09
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Harry posted:When goons originally laughed at it, bitcoins were going for 10 cents.
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Jul 10, 2018 03:16
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gary oldmans diary posted:you must have missed the first threads Now that I think about it, weren't they fractions of a penny?
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Jul 10, 2018 03:18
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Harry posted:Now that I think about it, weren't they fractions of a penny? Xferimg that poo poo to my fidelity account atm
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Jul 10, 2018 03:22
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you also have to dodge cashing out earlier, an exchange running away with your money, using [probably malicious] cryptocurrency software, and competently securing your wallet over many years to cash out from buying it at pennies
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Jul 10, 2018 03:23
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comedyblissoption posted:you also have to dodge cashing out earlier, an exchange running away with your money, using [probably malicious] cryptocurrency software, and competently securing your wallet over many years to cash out from buying it at pennies You didn't have to buy in the pennies. Anytime before 2012 you're flirting with a million at any moderate investment ($1,000-2,000). I'm not saying it's highly likely, but everyone here is acting like true believers weren't around over the years who dumped more money than they should have into it. Especially since goons have been making fun of it for nearly 10 years at this point.
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Jul 10, 2018 03:35
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Harry posted:You didn't have to buy in the pennies. Anytime before 2012 you're flirting with a million at any moderate investment ($1,000-2,000). I'm not saying it's highly likely, but everyone here is acting like true believers weren't around over the years who dumped more money than they should have into it. You're using revisionist history here. Throwing $1k, $2k, or $5k into a magic the gathering card exchange that had already been hacked at that point was never a good idea. I think a lot of people forget that bitcoin was always just a proof of concept. Satoshi was gone very early on and it was a software project with no ownership/leadership structure. It couldn't, and can't be meaningfully updated. I can't think of a single successful project with those constraints.
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Jul 10, 2018 03:44
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Andy Dufresne posted:You're using revisionist history here. Throwing $1k, $2k, or $5k into a magic the gathering card exchange that had already been hacked at that point was never a good idea. there's been a lot of graft and theft so i guess that's successful
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Jul 10, 2018 03:48
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Andy Dufresne posted:You're using revisionist history here. Throwing $1k, $2k, or $5k into a magic the gathering card exchange that had already been hacked at that point was never a good idea. Whatever became of the Bitcoin Church?
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Jul 10, 2018 03:50
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graftcoin
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Jul 10, 2018 03:51
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Harry posted:Saying "let's see what happens" in 2014 would yield at least a 60x return. ETH in in 2015 would be a 600x return. To say it's just impossible that anyone threw $5,000 at any of those times is pretty stupid. When goons originally laughed at it, bitcoins were going for 10 cents. No they weren't? I was actually posting in that thread when they were 10 cents and it was still in the curiosity phase here. A lot of goons were even mining them (because why the gently caress not, maybe you'll get enough to buy a pizza or something?) Also regarding "at least a 60x (or 600x) return", that's only if you don't lose the coins, which is a thing that has been extremely common. You mentioned 2014; by that time MtGox was handling 70% of all bitcoin transactions and then collapsed in the same year, so odds are actually super good that anyone with bitcoin in 2014 lost them in 2014. That's a 0x return.
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Jul 10, 2018 05:37
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QuarkJets posted:No they weren't? I was actually posting in that thread when they were 10 cents and it was still in the curiosity phase here. A lot of goons were even mining them (because why the gently caress not, maybe you'll get enough to buy a pizza or something?) I lost a couple hundred bitcoins i mined in the very early days to MtGox. That still pisses me off but hey, what can you do? The few Satoshi i still had in some random offline wallet i sold in December 2018 at around $15k because i was convinced the Bubble is going to burst any day.  Not a Lambo, but a great xmas present
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Jul 10, 2018 07:01
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