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re: Follow up to Cosmo's Bitcoin Thread: A trip down memory lane
Posted on 3/12/24 at 1:44 pm to el Gaucho
Posted on 3/12/24 at 1:44 pm to el Gaucho
If he did sell at 10k, he wouldve 100% bought back into the coin at some point after it dropped again. Hell after it split 4 yrs ago it hit 69k then hit a low of 15k its at over 72k.
It will get to 100k this split 100%
It will get to 100k this split 100%
1
Posted on 3/12/24 at 1:55 pm to okietiger
quote:
LSU Russian
Don’t ever listen to some jerkoff Russian. Those scabs are not to be trusted.
Posted on 3/12/24 at 2:02 pm to HattiesburgTiger5439
quote:
If he did sell at 10k, he wouldve 100% bought back into the coin at some point after it dropped again. Hell after it split 4 yrs ago it hit 69k then hit a low of 15k its at over 72k.
It will get to 100k this split 100%
Look I appreciate your enthusiasm but you're not a fricking mind reader dude. You couldn't possibly know what he did with 100% certainty. And I personally don't think you can predict the future of BTC 100% either
Posted on 3/12/24 at 2:35 pm to TigerTatorTots
quote:Why wouldn't I still be "digging my heels in the dirt" as you put it?
Some even still digging their heels in the dirt (i.e. Russian)
Bitcoin is STILL a digital ponzi scheme just like it was 10 years ago.
Bitcoin itself generates no income to increase its value. It relies completely upon new money coming in to drive up the price for the old money already invested.
That is the principle upon which ponzi schemes exist.
Nothing has changed. So why should I change my opinion about the eventual outcome for bitcoin?
Posted on 3/12/24 at 2:39 pm to LSURussian
quote:So would PMs be Ponzis as well? What about companies that are cash flow negative with no assets? What about land that doesn't earn income? How about trading cards and fine art?
Bitcoin itself generates no income to increase its value. It relies completely upon new money coming in to drive up the price for the old money already invested.
None of those things generate income and completely rely on new money coming in to drive up the price for the money already invested.
Posted on 3/12/24 at 2:51 pm to TigerTatorTots
quote:No, because precious metals have intrinsic value to be used in manufacturing and medical processes, crafted into jewelry and other uses which give them value.
So would PMs be Ponzis as well?
quote:Land CAN generate income and therefore has a value based on potential future use.
What about land that doesn't earn income?
quote:Such as?
What about companies that are cash flow negative with no assets?
quote:Those things don't claim to be a currency. And they can be held and admired for either their beauty, their historical significance or sentimental value.
How about trading cards and fine art?
Frankly, the fact that you ask such questions reveals a fundamental level of ignorance on your part. But then again, that's exactly the type of person who is attracted to bitcoin.
Posted on 3/12/24 at 3:23 pm to Broke
Fwiw I remember the last BTC thread he posted in. He said he sold enough to be financially independent, but didn’t sell everything.
Posted on 3/12/24 at 3:25 pm to LSURussian
So what you are telling me is that things can be valued based upon their perceived value (ex the ~9% of industrial value attributed to PMs like gold) and potential future use.
Wild thought that not everyone perceives the value of something or believes in future use potential the same way.
Wild thought that not everyone perceives the value of something or believes in future use potential the same way.
Posted on 3/12/24 at 3:28 pm to CAD703X
quote:
you cant delete a dozen posts in 60 seconds? its what, 3 clicks for each post? i did the same thing with my original account on here; it wasnt even anything bad..i was just going through an ugly div around the 2006 timeframe and felt like ANYTHING i said could have been misconstrued so i nuked it all and started over with a new user.
Dozens, plural. Editing every post without error dozens of times per minute, minute after minute. It’s almost certainly a script.
Posted on 3/12/24 at 3:46 pm to DeathValley85
Crypto was wild the past few years with the crash and exit scams. He could have invested some in voyager, FTX, or Celsius thinking he was getting guaranteed returns and poof gone
Posted on 3/12/24 at 4:06 pm to CE Tiger
You still a LINK marine baw?
Posted on 3/12/24 at 4:23 pm to okietiger
quote:
No idea what happened to Wiki, but I'm happy with my bitcoin investment. I bought them at $13 a piece not long after they first appeared.
Posted on 3/12/24 at 5:24 pm to okietiger
Dude is fine. Easily worth more than fifty million. Some of you pathetic doxers are reason enough to scrub one’s post history.
Posted on 3/12/24 at 5:27 pm to okietiger
quote:
So he apparently went in and deleted like 5+ years worth of messages
Doubt he did it, he just paid one of the scrubbing companies to handle it. Easy when you have that kind of money.
Posted on 3/12/24 at 6:01 pm to okietiger
One of my regrets is not listening to him. There was once, when he first spoke of this I thought about investing, but then read all the computer crap you had to do to do it back then and said, naw. Of course, in hindsight I could have gotten a young neighbor kid to do that, but didn't. 
Posted on 3/12/24 at 6:15 pm to okietiger
I am an early adopter.
Posted on 3/12/24 at 8:59 pm to UnluckyTiger
Lost quite a few soldiers but yea
Posted on 3/12/24 at 9:50 pm to Cosmo
quote:
assume he sold a bit of his stake along the way. But still held on to 50% or so
Yeah probably. People always beat themselves up in these threads as if they would have bought 1,000 BTC at $3, rode it up to $20k/BTC, watched it go back to $3.4k, then let it plunk along for 3 years to get back to $20k, just to see it go on to $65k, then fall to $28k in two months, etc.
That’s not what most people do. It may have started as $6k you could afford to lose, but in a relatively short amount of time you were making and losing over $10 million in a matter of months.
Posted on 3/12/24 at 10:04 pm to LSURussian
It's worth $71,000 and is extremely liquid. If you held 1,000 BTC, you could sell it in 2 seconds for $71 mil. Does not matter at all whether you think it's a ponzi or not. Market doesn't care if you or people think that. Jelly...
It has way too much momentum and world awareness now that it will never go to $0. Even if over next 10 years, it crashes to $100, it will come back. World awareness is huge for an investment with no cash flow statements behind it as the only thing it can gain value from is world awareness... as long as no stuff like Enron but that can't happen bc it's not a company.
It has way too much momentum and world awareness now that it will never go to $0. Even if over next 10 years, it crashes to $100, it will come back. World awareness is huge for an investment with no cash flow statements behind it as the only thing it can gain value from is world awareness... as long as no stuff like Enron but that can't happen bc it's not a company.
This post was edited on 3/12/24 at 10:11 pm
Posted on 3/12/24 at 10:09 pm to LSURussian
Bitcoin is an automated service you bribe others to let you partake in.
Once you realize that, and also make peace with your error in judgement, the healing can begin.
Once you realize that, and also make peace with your error in judgement, the healing can begin.
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