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GoGoGadgetChris posted:Venmo will now let you convert your balance into crypto, as well Venmo gave me $25 if I bought $25 worth of crypto. So now I own $25 worth of litecoin that is now worth $32. I'm putting crypto day trader on my resume.
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Oct 26, 2021 08:14
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I have to wonder how these more established internet banks are handling crypto. There's no way they're not doing it through a third party who holds it for you. Defeating the entire point of crypto by centralizing it, because that is the only way to make bitcoin accessible to the layman. Had a client ask us if I would run crypto holdings past our analysts and I didn't even bother to ask. I just called him up a few days later and said "We ran it past our insurers and unfortunately we can only own it for you if you give it to us, which is something we won't do as advisors." Like if you make up business speak and flatter the bitcoin people they're just happy to be taken seriously.
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Oct 26, 2021 08:37
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DaveSauce posted:This is... exactly where I'm at right now. Fiat is useful because we all agree that it's useful. Gold/silver/whatever backed currencies are useful because... we all agree that gold/silver/whatever is useful. There are basically four reasons why BTC people are gung ho about it: #1: NO TAXES!!!!! I.e. they're extreme gently caress-you-got-mine Libertarians who just want to hide their money and somehow think Bitcoin is a better "store of value" than, say, art, diamonds or gold. #2: While not being backed by anything physical(they're often still VERY angry about the removal of the gold standard, which was objectively a genius move, economically), Bitcoin does the next-best thing, which is that there's a theoretical upper limit to the amount that can be printed, and these people are extremely terrified of the idea that the government can just "print more" currency and devalue what they already have, because they're morons. #3: They don't understand the difference between anonymous and pseudonymous transactions and think they can buy illegal drugs and child porn and no one will ever catch them. #4: They've correctly identified the whole thing as a pyramid scheme but expect that they're going to be the one ending up on top of the pyramid with all the money from the suckers below.
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Oct 26, 2021 10:19
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Even if there's only ever going to be 21 million bitcoins I thought one of their selling points was infinite divisibility. Much like JPow you just need to keep adding zeroes and it feels like you're back to inflation.
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Oct 26, 2021 11:17
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It's also only a cap of 21 million unless the oligopoly of mining cartels decides to raise the cap.
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Oct 26, 2021 12:27
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I would have been rich 10 times over if it wasn't for this forum making GBS threads on btc
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Oct 26, 2021 12:28
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Or you'd be broke because you got exit scammed by one of the MANY exchanges that disappeared into the night or hacked or...
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Oct 26, 2021 12:43
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Chaotic Flame posted:Or you'd be broke because you got exit scammed by one of the MANY exchanges that disappeared into the night or hacked or... This. It's this. Always this. I was super close to buying BTC back when it was first a big news thing at around $200. Then I remembered that whenever I think something is a good idea, I should do the opposite. I probably would have sold when it jumped soon after to $2000 or whatever. Would have been a tidy profit, still, but I'd be kicking myself for not holding on longer. Did the same thing with GME. Very nearly bought when it was $40, but there was no valid reason for it and I recognized it was a pump and dump. Didn't figure it'd go to $300, but I'm sure I would have sold before it reached $100. I know better than to get involved in this crap. I see it as a scam, and I know that the instant I think that I'll walk away in the black then I know everyone else is thinking the same thing and I'd end up just another bag holder. Maybe I give others too much credit, but I know the one time I try it it's going to end poorly. DaveSauce fucked around with this message at 13:00 on Oct 26, 2021 |
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Oct 26, 2021 12:57
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Meanwhile, I can't understand why Citi keeps trying to get me to convert points on my DoubleCash card from cash back to ThankYou™ Points, which are worth the same amount per dollar but more restricted in how they can be used. No thanks, I'll pass on your generous offer. I'm sure it has to do with affiliate marketing and partnerships, but still.
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Oct 26, 2021 13:10
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FateFree posted:I would have been rich 10 times over if it wasn't for this forum making GBS threads on btc I'd have either sold at 10 bucks or have been scammed out of it all and my identity and all my savings probably. I'm way up on lmaos so I consider it a win.
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Oct 26, 2021 13:19
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Chaotic Flame posted:Or you'd be broke because you got exit scammed by one of the MANY exchanges that disappeared into the night or hacked or... Also, the problem with making high-risk investments is knowing when to stop. Even if you had made a million on bitcoin and successfully evaded all the scams, (highly unlikely) you would have also had to avoid investing in all equally risky memes at the time that didn't pay out. Saying you missed a big payday with a risky investment that you got warned out of ignores the 20 losses you also would have taken if you engaged in risk-taking behavior. Saying that you would have taken the profitable investment and missed all the bad ones is hubris. If you had the foresight to discriminate between the two, you wouldn't be online looking for bitcoin tips. Dik Hz fucked around with this message at 13:28 on Oct 26, 2021 |
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Oct 26, 2021 13:26
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Dik Hz posted:Likely. I've posted this before I think but my Dad got into futures with his father around 2000. Grandpa was somewhat wealthy (2,000,000 in portfolio assets or so), they doubled their money by early 2003, and by August that year had lost everything except their houses to the point where I had to take out loans for college. Like had to sell physical gold grandpa had been hoarding to cover shorting stocks. People think they know when to stop and take profits when they start but few seem to actually be able to do it. Grandpa died essentially penniless. Edit: lost everything in less than a month playing the oil markets in the run up to the Iraq war. I've thought about writing out the whole story as a parable of greed honestly it was insane to just sit back and watch/ experience it all happening. Source4Leko fucked around with this message at 13:39 on Oct 26, 2021 |
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Oct 26, 2021 13:37
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Dik Hz posted:Likely. A gambler will always brag about his wins and perfect hindsight.
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Oct 26, 2021 13:38
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Speaking of such, I found out a guy I used to manage won a million bucks in the lottery a couple weeks ago. He definitely needs and deserves the money, so I'm happy for him. But I wonder how much he spent go there.
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Oct 26, 2021 13:46
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I don't know how much lottery tickets are in the US, but I think in the UK if you played the same numbers on the national lottery every draw since it launched (around 1997, adding second and third weekly draws that've been added as well as price increase from £1 to £2 per line) and won nothing you'd be about £3000 or so down at this point. That's actually not as high as I was expecting, though I'd assume given how crazy some Americans get about lotteries (based entirely off sitcom lottery plots) it'd be a higher number there.
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Oct 26, 2021 15:00
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Oct 26, 2021 15:13
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Source4Leko posted:Edit: lost everything in less than a month playing the oil markets in the run up to the Iraq war. I've thought about writing out the whole story as a parable of greed honestly it was insane to just sit back and watch/ experience it all happening. Write it straight into this thread/my veins please
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Oct 26, 2021 15:14
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Dik Hz posted:Likely. I need to figure out a way to tattoo this on my forehead so I can read it every time I read about bitcoin going up in value.
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Oct 26, 2021 15:19
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YOUR UNCOOL NIECE posted:Write it straight into this thread/my veins please K all I need is one just post to post. Might not be quick but I'll write it up and dump it in here sometime.
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Oct 26, 2021 15:21
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Residency Evil posted:I need to figure out a way to tattoo this on my forehead so I can read it every time I read about bitcoin going up in value. easy, just do the diamond hands or rocket emojis. Timeless reminder of the sort of idiots getting roped in to this crap.
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Oct 26, 2021 15:22
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njsykora posted:I don't know how much lottery tickets are in the US, but I think in the UK if you played the same numbers on the national lottery every draw since it launched (around 1997, adding second and third weekly draws that've been added as well as price increase from £1 to £2 per line) and won nothing you'd be about £3000 or so down at this point. That's actually not as high as I was expecting, though I'd assume given how crazy some Americans get about lotteries (based entirely off sitcom lottery plots) it'd be a higher number there. It's roughly that in the US as well, but people who buy lottery tickets tend to buy more than one per drawing. That number lost goes way up when you're buying 10+ tickets 2-3 times a week. It's something like the average American spends ~$200 a year on lottery tickets, but that number is skewed in such a way that if you pick any five people, four of them spend like $20 annually and one spends $1000.
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Oct 26, 2021 15:32
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Source4Leko posted:I've posted this before I think but my Dad got into futures with his father around 2000. Grandpa was somewhat wealthy (2,000,000 in portfolio assets or so), they doubled their money by early 2003, and by August that year had lost everything except their houses to the point where I had to take out loans for college. Like had to sell physical gold grandpa had been hoarding to cover shorting stocks. People think they know when to stop and take profits when they start but few seem to actually be able to do it. Grandpa died essentially penniless. Same thing happened to my old man, but not quite that catastrophic. More like a 6-month millionaire before his dot-com investments regressed to the mean.
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Oct 26, 2021 15:45
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Bones Worth Moving: I'm investing in crypt currency
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Oct 26, 2021 16:09
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PurpleXVI posted:There are basically four reasons why BTC people are gung ho about it: Imagine hutz business card dot jpg No Scams, Taxes, Profits No, Scams, Taxes, ^lost Profits
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Oct 26, 2021 16:56
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Source4Leko posted:K all I need is one just post to post. Might not be quick but I'll write it up and dump it in here sometime. 
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Oct 26, 2021 17:06
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Oct 26, 2021 18:42
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quote:
quote:The stockmarket is a pyramid scheme. If you don't see that, you're too invested to realize it. Bitcoin is a flat line scheme. No man is greater than another in bitcoin and that is why they fear it. quote:People saying bitcoin is worthless are either jealous or paid off. I mean.... it's definitely paid out. It's like the best performing asset ever. quote:Explain how bitcoin has no value. What gives something value? If society collapses, then bitcoin, gold, dollars, and euros are all equally worthless. Bitcoin can at least be put in cold storage and booted back up when society rebuild and starts the blockchain again. Paper degrades. quote:"According to a new study from the National Bureau of Economic Research (NBER) via Bloomberg, the top 10,000 individual Bitcoin investors control roughly one third of the cryptocurrency in circulation." quote:FUDsters still pretending it’s a speculative asset despite it being a literal legal currency in El Salvador and a payment method used by millions upon millions globally…and basically every company at this point… quote:
quote:Bitcoin has a public ledger while USD does not. quote:I know a 35 year old who has no 401k or retirement or savings. He plows everything he earns into Bitcoin. quote:
quote:
quote:Anything can be a small group. small group? …. A small group of the word population would still be in the 100’s of millions… quote:
quote:
quote:Please, humor me. Let's hear your reasons why Shib is a gamble.
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Oct 27, 2021 01:14
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I'm not sure I'd hold up El Salvador as a premier example of Bitcoin's real world use.
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Oct 27, 2021 03:54
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Leon Trotsky 2012 posted:FUDsters still pretending it’s a speculative asset despite it being a literal legal currency in El Salvador and a payment method used by millions upon millions globally…and basically every company at this point… Is there even a single company in the, say, S&P 500 that takes bitcoin as a payment method?
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Oct 27, 2021 05:39
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quote:And yes, BTC, like all assets younger than 13 years old is volatile. 
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Oct 27, 2021 06:20
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FateFree posted:I would have been rich 10 times over if it wasn't for this forum making GBS threads on btc quote:Explain how bitcoin has no value. What gives something value? If society collapses, then bitcoin, gold, dollars, and euros are all equally worthless. Bitcoin can at least be put in cold storage and booted back up when society rebuild and starts the blockchain again. Paper degrades.  quote:Bitcoin has a public ledger while USD does not.
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Oct 27, 2021 06:29
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easier to lol at crimes
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Oct 27, 2021 06:40
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therobit posted:Y’all keep talking about wallets. Do you mean like, prison wallets? I'd like to make a deposit
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Oct 27, 2021 07:17
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drk posted:Is there even a single company in the, say, S&P 500 that takes bitcoin as a payment method? Even if they do, none of them use it as a currency, they don’t pay their creditors with the Bitcoin they get from their customers, they use it like a convoluted payment processor to instantly turn it into dollars, euro’s, pounds or whatever.
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Oct 27, 2021 08:35
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I respect this person's energy and goals
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Oct 27, 2021 09:50
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https://twitter.com/CLE_Comrade/sta...ingawful.com%2F
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Oct 27, 2021 11:40
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Are they making a HODL-Hajj?
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Oct 27, 2021 13:03
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ahh yes, bitcoin a thing related to a computer / digital infrastructure, is perfectly resilient in a societal collapse. This is certainly a very good and solid take. It is 100% better than gold or other items which will have zero value.
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Oct 27, 2021 13:04
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Proposition Castle posted:Are they making a HODL-Hajj? lmao
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Oct 27, 2021 13:11
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njsykora posted:I'm not sure I'd hold up El Salvador as a premier example of Bitcoin's real world use. Safe to assume that's the only compliment they're capable of giving El Salvador before trailing off into an semi-intelligible string of slurs.
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Oct 27, 2021 14:07
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