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Today I learned why Warren Buffett doesn't "believe" in BitCoin and Crypto

Because the digital currency is decentralized, peer to peer transaction without the middleman, it does not rely on a government, a bank or any financial agency to facilitate a transaction, so it's out of reach to people like Buffett, he cannot "steal" them from you. In other words, his wealth is basically an organized theft through manipulating the stock market etc, and for digital currency, the old school manipulation is virtually useless.

It's the same reason he doesn't "believe" in gold, it's not like he doesn't want it, it's just much harder to "steal" gold away from other people.

by Anonymousreply 167June 25, 2022 6:00 PM

Please. These people with NFTs and Bitcoin wallets get their crypto stolen all the time, they're too stupid to not click phishing links in emails or on Discord. He could steal from them very easily, if that's what he was all about.

by Anonymousreply 1May 5, 2022 9:57 AM

we are not talking about pocket picking here!

by Anonymousreply 2May 5, 2022 10:00 AM

You JUST realized this now, OP?


Better late than never.

by Anonymousreply 3May 5, 2022 10:39 AM

Crypto is a haven for money launderers, criminals, human traffickers, tax evader, etc. If you prefer that to fiat currency because it is run by the central government that has regulations then don't complain when someone rips you off.

by Anonymousreply 4May 5, 2022 11:02 AM

I don't do bitcoin, nfts, or anything i don't understand, I'm just a big fat whore happy and content peddling my mussy to gentleman callers in the afternoon while the kids are in school, cash money still impresses me most of all, it pays the rent and expenses of everyday life and it's basic necessities, cold hard cash is king, so Crown me. :-)

by Anonymousreply 5May 5, 2022 11:09 AM

Securities could also be traded using blockchain technology in the future. There goes the cash cow for hedgefunds and investment banks.

by Anonymousreply 6May 5, 2022 12:16 PM

the US dollar is the largest haven for money launderers ........ bet on it........in fact, it is used for more illegal transactions than any other kind of financial vehicle (money)...

by Anonymousreply 7May 5, 2022 12:19 PM

Help an eldergay out. I still don’t understand cryptocurrency. How does it work?

by Anonymousreply 8May 5, 2022 12:49 PM

So now one of our right wing troll is also a gold bug.

by Anonymousreply 9May 5, 2022 12:56 PM

LOL - is this how they're positioning crypto? I suppose it makes sense since there is probably a high correlation between maga-idiots and conspiracy nutbags who need to buy guns anonymously with crypto.

It's funny. The crypto nutbags are the same folks who SCREAM about "fiat money" and are desperate to return to the gold standard. Go check the various discussion forums on the subject. You'll find a very specific political and ideological bent to the discussions.

by Anonymousreply 10May 5, 2022 12:58 PM

cryptocurrencies will eventually become the world's reserve currency, displacing the dollar's current status...............because it is impossible to inflate or deflate its value (by any government agent)..........

by Anonymousreply 11May 5, 2022 1:06 PM

[quote]cryptocurrencies will eventually become the world's reserve currency, displacing the dollar's current status...............because it is impossible to inflate or deflate its value (by any government agent)..........

LOL - not a chance.

Impossible to inflate or deflate - CRITICAL POINT - by a government agent. It is easily manipulated by other people since they are digital tulips and essentially a ponzi scheme.

by Anonymousreply 12May 5, 2022 2:26 PM

NFT has crashed so bad.

by Anonymousreply 13May 5, 2022 2:43 PM

I don't trust Warren Buffett. He's a phony!!!!

by Anonymousreply 14May 5, 2022 2:45 PM

[quote]it is impossible to inflate or deflate its value

Although there is, apparently, a mathematically finite amount of any one cryptocurrency, doesn't the ability to create an infinite number of cryptocurrencies have an effect on they value of the whole crypto marketplace?

by Anonymousreply 15May 5, 2022 2:50 PM

Blockchain technology is here to stay, no matter what anyone thinks of cryptocurrencies.

by Anonymousreply 16May 5, 2022 2:54 PM

The stock market is RED today!!!!!!!!


by Anonymousreply 17May 5, 2022 2:55 PM

Now is the time to buy. The price has dropped off (Elon selling again?), so western markets are reporting crash but the nasdaq remains firm.

Of course, if you trade in traditional currency... the gbp is on the rise right now.

by Anonymousreply 18May 5, 2022 3:19 PM

What is Blockchain technology?

by Anonymousreply 19May 5, 2022 5:06 PM

Bitcoin is also incredibly shitty for the environment.

by Anonymousreply 20May 5, 2022 5:08 PM

R7 That may be true - and certainly wouldn’t be surprising - but at least there is a modicum of regulation here. Bitcoin is worse than the Wild West and I shudder to think of the horrific transactions that have taken place under cryptocurrency where there is ZERO oversight. People are jerks and will use any excuse or loophole to hurt other people or animals. Fact.

by Anonymousreply 21May 5, 2022 5:11 PM

r21, let the free market and supply/demand of cryptocurrency decide its fate...

by Anonymousreply 22May 6, 2022 11:02 AM

Anyone pushing crypto is suspect. It is the currency of criminals and the wealthy to do all kinds of crimes.

by Anonymousreply 23May 6, 2022 11:10 AM

sigh...........again, ..........the ******US DOLLAR****** is used for more crime worldwide than any other form of currency.................

by Anonymousreply 24May 6, 2022 11:17 AM

R24 Siiiiiigh it is because it is USED as the MAIN currency for trade. Learn something and quit pushing that suspect crypto bullshit which is just another way to fleece you rubes.

by Anonymousreply 25May 6, 2022 11:21 AM

r8, If you have a NY Times digital subscription, on March 18th, 2022, the NY Times published a long article on our question. I don't know squat about Crypto, Bitcoin, too.

It's headlined "The Latecomer’s Guide to Crypto

Crypto is a lot of things – including terribly explained. We’re here to clear things up."

By Kevin Roose

If you don't have a NY Times digital subscription, you might be able to access it free if you have haven't used up your free access.

by Anonymousreply 26May 6, 2022 11:54 AM

r25......double sigh, I have a Masters in Finance and have mined 2964 Bitcoins (and counting) since approx. 2008-09 (figure out my theoretical net worth for yourself)...

by Anonymousreply 27May 6, 2022 1:02 PM

r27 here...........like Liberace, I cry about never having learned anything, ...........all the way to the bank..........

by Anonymousreply 28May 6, 2022 1:09 PM

The biggest myth a conman ever told was that crypto currencies are "decentralized".

What they actually are, are pyramid schemes.

by Anonymousreply 29May 6, 2022 1:11 PM

"Bitcoin is also incredibly shitty for the environment."

So is the whole banking system. At least with bitcoin, mining operations can be powered by zero-carbon resources, such as nuclear, hydro, wind and solar - which is already happening. That alone will reduce the carbon emissions associated with mining itself. Additionally, going forward, blockchain projects will be proof of stake - which is a carbon neutral protocol. No mining.

Clearly most people on this thread are old. As we speak, network effect is already gaining momentum. Institutional adoption is reality. It's just in the extreme prototype phase. The infrastructure is being built all around us.

The brilliant MIT, Stanford, Harvard computer science kids - the ones way smarter than you? They are flocking to blockchain because that is where the nature of transactions are going.

Retailers like Gucci, Amazon, Home Depot, Starbucks, AT&T and Microsoft accept crypto for payment. More are onboarding every day.

Even douche face dark overlord crypto-hater Jamie Dimon has revised his opinion of blockchain --though not bitcoin (see link).

Consider this a PSA. I'm not trying to change any ossified minds. Just giving a more accurate snapshot here of what is actually happening above and beyond "Hissssssss PYRAMID SCHEME!"

Offsite Link
by Anonymousreply 30May 6, 2022 2:06 PM

let the free market and supply/demand of cryptocurrency decide its fate...

by Anonymousreply 31May 6, 2022 2:39 PM

Glad to get stupid out of the way this early in the morning...rest of the day should be easy peasy now.

by Anonymousreply 32May 6, 2022 2:51 PM

Crypto is a confidence game. Requires convincing enough people that it is worth something. Sorry - but not a good way to “invest”.

by Anonymousreply 33May 6, 2022 3:36 PM

ALL money is a confidence game r33

Even the almighty US dollar

by Anonymousreply 34May 6, 2022 3:38 PM

the US dollar is not backed by anything other than (all) our mutual agreement about what it is worth..........(just like Bitcoin)................

by Anonymousreply 35May 6, 2022 3:42 PM

^^^^^^^^that is the textbook definition of FIAT currency........(which is what the USD is)..............

by Anonymousreply 36May 6, 2022 3:44 PM

at least I can wipe my ass with my us dollars. you can't with bitcoin

by Anonymousreply 37May 6, 2022 3:47 PM

Fiat currency is backed and regulated by the central government of each sovereign country. What is crypto backed by?

Crypto is from the Greek, meaning hidden or secret. A perfect description if you ask me.

by Anonymousreply 38May 6, 2022 3:48 PM

Fiat currency is backed by NOTHING. Not Gold, Not Silver, Not Platinum, Not Anything. Only the "full faith and credit" of the US Government. Whatever that means. When is the last time anyone bought apples with the "full faith" of the National government?

by Anonymousreply 39May 6, 2022 3:51 PM

r37 I will wipe your ass with my US bills............just come on by...........

by Anonymousreply 40May 6, 2022 3:53 PM


Offsite Link
by Anonymousreply 41May 6, 2022 3:59 PM

The Dollar is backed by violence ultimately.

by Anonymousreply 42May 6, 2022 4:05 PM

the us dollar is backed by NOTHING.....

by Anonymousreply 43May 6, 2022 4:13 PM

He so vain!

by Anonymousreply 44May 6, 2022 4:28 PM

r43 that's incorrect. It's backed entirely by the full faith and trust in the government that issued it. One reason this has merit is that governments demand that you pay taxes in the fiat money it issues.

Hardly "nothing".

Offsite Link
by Anonymousreply 45May 6, 2022 4:30 PM

OP Buffet sees it as a pyramid scheme, which it is. That's why he doesn't like it. Of course he's being bypassed by others who want to get in on the pyramid scheme, which are in effect giving it a value of its own. But don't forget that the value of bitcoin comes from something like 95% investors who have billions in it, and these are investors like Warren Buffet, not millions and millions of hard-working average Joes. Basically, these ultra-wealthy investors and funds are what are giving Bitcoin power and making it worth so much now, not some abstract concept of "the people" investing in it.

Note the study the article references is through 2020 - the amount these few people control has grown a lot more since then.

Offsite Link
by Anonymousreply 46May 6, 2022 4:36 PM

apparently r45 cant read...........

by Anonymousreply 47May 6, 2022 5:03 PM

r45, go into a Kroger and buy one pound of apples and offer the cashier "the full faith of the US govt." as payment (and nothing else) and see what happens........

by Anonymousreply 48May 6, 2022 5:06 PM

R45 is gullible and naive

How will we exploit him?

by Anonymousreply 49May 6, 2022 5:10 PM

[quote][R45], go into a Kroger and buy one pound of apples and offer the cashier "the full faith of the US govt." as payment (and nothing else) and see what happens........

Not r45, but this one is just too easy... (three dots for an ellipsis)

You do realize that that is exactly what a money is, right?

by Anonymousreply 50May 6, 2022 5:11 PM

[R50] is gullible and naive

How will we exploit him?

by Anonymousreply 51May 6, 2022 5:14 PM

Fiat currency is backed by the economy of each sovereign nation (ie what it produces, what it exports, what it has in resources). Crytpo is make believe money, chicanery at its finest.

by Anonymousreply 52May 6, 2022 5:44 PM

and yet the 2964 bitcoins that I mined in 2009-10 are worth what now? which currency has appreciated more since 2009? which has deflated more since 2009? (answer: the USD) as I said: I cry all the way to the bank...

by Anonymousreply 53May 6, 2022 5:49 PM


And calling us “ossified minds” is a great way to encourage any curiosity about bitcoin…

by Anonymousreply 54May 6, 2022 5:49 PM

let the free market and supply/demand of cryptocurrency decide its fate...

by Anonymousreply 55May 6, 2022 5:50 PM

^^^^^^^ r54 further curiosity about bitcoin is not really needed now. those of us who saw its brilliance are now multimillionaires, and those of us who did not will never get it. (and will remain relatively poor) (which is fine with me) - living well is the very best revenge - I live well.

by Anonymousreply 56May 6, 2022 5:53 PM

R56 and so do I.

The house I paid $330k for in 2006 is now worth $1.9 million. Even with a bubble, I’m sitting on a gold mine and have had a lovely place to live all this time, which is its own intrinsic value. Further, my retirement accounts are doing well, all things considered right now.

Basically, it seems as though Bitcoin is only valuable when spending it, just like the dollar and your way of life really isn’t different than ours, except you seem smug about yours.

by Anonymousreply 57May 6, 2022 5:59 PM

115 million is a lot more than 1.9 million..........

by Anonymousreply 58May 6, 2022 6:11 PM

let the free market and supply/demand of cryptocurrency decide its fate...

by Anonymousreply 59May 6, 2022 6:12 PM

r47 - r49, of course I can read. I'm guessing the concept of what holds up fiat money is a bit out of your mental capacity. It's not backed by physical goods, but it is backed by expectations that DO have real value. Frankly if you're this dumb you should probably NOT be investing in crypto or trying to prosthelytize for it since the only people you'll appeal to are glue-sniffers such as yourself.

I guess the "ellipsis troll" is a crypto weeb too.

by Anonymousreply 60May 6, 2022 7:42 PM

R60 is triggered

by Anonymousreply 61May 6, 2022 7:46 PM

R61 is an idiot

by Anonymousreply 62May 6, 2022 8:03 PM


Ahhh, look everyone - he just couldn’t wait to tell us how much Bitcoin he has and as soon as he saw the opening, he jumped right in.

What are you doing with that money besides boasting about it on the internet? Do something positive with all that hard-earned money of yours and then we will talk. Otherwise, it’s just sitting there.

by Anonymousreply 63May 6, 2022 10:17 PM

I think I sense some jealousy and envious longing here. Both are cardinal sins.

by Anonymousreply 64May 6, 2022 11:38 PM

Jealousy and envy have at their root: Pride.

by Anonymousreply 65May 6, 2022 11:41 PM

The good fortune of a friend is my good fortune as well. Just saying.

by Anonymousreply 66May 6, 2022 11:53 PM

R53 Explain to me this whole concept of mining. Do you have a bunch of supercomputers? How did you connect onto the blockchain? Allegedly it takes electricity equal to nine years of usage by a typical home to mine one bitcoin. How did you deal with that aspect of it? You have a bunch of bitcoin, are you sitting on a bunch of theoretical money or do you buy dollars with it so you can spend it freely?

by Anonymousreply 67May 7, 2022 1:06 AM

What does buffet believe in besides getting more zeros. we need a limit on wealth I mean when does it just become a mental illness to want more.

by Anonymousreply 68May 7, 2022 3:02 AM

R63/R67 he has no money or Bitcoin or bitches. He is just a sad troll.

by Anonymousreply 69May 7, 2022 3:20 AM

I invest in and put my dollars into that which I understand in terms of a value however variable. I cannot invest in something because a lot of others have, particularly the super wealthy depending on their investment to assure the value. Talk about skating on thin ice.

by Anonymousreply 70May 7, 2022 3:43 AM

For a moment I thought the thread title said Warren Beatty. Is crypto the road to our future?

by Anonymousreply 71May 7, 2022 4:16 AM

He probably thinks this coin is about him, R44.

by Anonymousreply 72May 7, 2022 4:20 AM

How did the meme stock thing go? Is that still going on? Never heard a story once on mainstream media about it. Bizarre.

I wonder if they all got ripped off? The whole thing stank in my opinion. It reeked of something shady.

by Anonymousreply 73May 7, 2022 4:51 AM


Offsite Link
by Anonymousreply 74May 7, 2022 5:16 AM

Be cautious of what the uber rich say about crypto. They will tell the public one thing while quietly buying it up behind the scenes. More for them, after all.

by Anonymousreply 75May 7, 2022 5:20 AM

r67 - r53 here. "Mining" is the process of running a small program in the background of your computer which validates bitcoin purchases (transactions) all over the world, (involving bitcoin only). The calculations get longer and harder as time passes. In the beginning, back in 2009-10, you could easily run the program in the background of one home-type computer, kind of like a screensaver program. The small mining program was "programmed" to only run when you were not using your machine, for instance at night. The "payment" of the small program for doing this "work" is the issuance of a bitcoin (or part of one). Way back then, the mining was easy and could be done on a laptop (because there were few financial transactions occurring worldwide using cryptocurrency). In a few weeks, one could easily have hundreds of bitcoins showing up in your computer as a complex series of letters and numbers (thus the "crypto" moniker) as a "reward" for doing the calculations. No, I did not have a supercomputer in my home then, only a few Dell desktops. It took no more energy to do this than (that) a few Dell desktops use. Remember, the program automatically makes the algorithm harder and harder (exponentially) as time goes by. Nowadays you would have to have an entire warehouse of dedicated "mini-super-computers" to do the work that I did with only 12 or so Dell desktops in a few months. As 2009-2010 ground slowly by, the algorithm slowly (slowed) my computers to a crawl, and I finally turned them off. By that time, I had "mined" 2964 Bitcoins. I have them stored in a (several) secure hardware "vault" called a TREZOR. The TREZOR can only be opened by a complicated passcode that I have memorized, (regurgitate three times/day with pencil and paper every single day, so that I never forget it). They cost me about $.07 (electricity times the cost of the 12 Dells) per bitcoin to mine. They are worth about $37,000 / each now. They have in the recent past been worth as much as $62,000. I will leave it to you to do the calculations. After mining these bitcoins, my life began to change. I am 58, the changes were for the better.

"I've been rich and I've been poor...and honey, let me tell you, rich is better"...Mae West.

by Anonymousreply 76May 7, 2022 11:56 AM

r69 I am truly such a sad, sad troll, I cry and cry all the way to the bank. Just like Liberace!! Hhhhhhaaahahahahahahahahahahaaahhaahaahah!!!!!!!!!!!!!!!!!!!!!!!!

by Anonymousreply 77May 7, 2022 11:59 AM

Sure you are, r77. I can tell it's really done a lot for you.

by Anonymousreply 78May 7, 2022 12:04 PM

There seems to be a lot of envy and "covetous longing" on this board, at least on this topic. Remember, the good fortune of a friend is our good fortune as well. signed r76

by Anonymousreply 79May 7, 2022 12:07 PM

if the Fed raises the prime rates, how will the Federal Government meet its interest payments on the US debt????

by Anonymousreply 80May 7, 2022 12:09 PM

Talking of bitcoin, I clicked on a youtube live stream of Elon and some other people earlier. I don't understand it and I spent about ten minutes listening to them. The hard sell was all over the screen. One of the four talking heads actually was promoting something like 'extra planetary habitation.'

That kind of threw me. It's like he was saying, 'Yeah, we fucked up this planet, so let's send guinea pigs to the other planets in our solar system so we can fuck them up!'

The wording on the screen was propaganda level pyramid scheme verbage. And I'm not even that invested in it. All those live streams have chat disabled. Why is that? Are these gods on earth afraid that somebody might challenge what they're saying with fact?

by Anonymousreply 81May 7, 2022 12:14 PM

R76 your story has some notable holes, namely the fact that Bitcoin was only worth five bucks in 2012 and didn't take off until 2013 when they were briefly worth around $770 before falling back to $300-400 for the next few years and they weren't being used hardly anywhere before that.

So I'm not sure how much your life would have changed before that point. Also you seem to be saying you mined these Bitcoin and stored them in your hardware wallet but Trezors weren't produced until halfway through 2014.

My impression of you is that you are a fraud because I find people with actual money that you are claiming to have don't have time or the desire to spend bragging about it on random anonymous message boards. You're also giving a rudimentary laymans lesson in Bitcoin mining specifically but it is missing some additional facts that a real miner back from the dawn of crypto would know.

Crypto does not work unless hucksters recruit more people to buy into it, which increases the value. So it stands to reason you would want to evangelize for Bitcoin if you own any of it, trying to bump the price.

That's why you see so many people posting about BTC and SHIB and DOGE on Twitter - it's all advertising, selling a pyramid scheme product. You're all MLM shysters.

by Anonymousreply 82May 7, 2022 12:21 PM

r81 Ayn Rand explained many of those people's thought processes in her books. Particularly "Atlas Shrugged." Basically, she states that we are getting to the point where the intellectuals of the world will simply abandon the unwashed masses/deplorables and stop interacting with/supporting them. The intellectuals will simply wall themselves off in very secure compounds and let the masses fight it out amongst themselves. Of course, she takes literary license to make the books interesting, but the basic message is as I stated.

by Anonymousreply 83May 7, 2022 12:24 PM

Ayn Rand is the basis of the chaos we live today. A dimwit freeloader preaching self reliance through third grade level pseudo-philosophy.

by Anonymousreply 84May 7, 2022 12:27 PM

Oh, OP/the person posting most to this thread is also the ellipsis troll. You can also tell by the somewhat intelligent posts interspersed with the childish name-calling and deranged ranting/bragging. As well as the random nutty posts about the Fed raising interest rates that seem disconnected from everything else, but it's all designed to make people buy into the crypto pyramid scheme.

I don't mind an actual discussion of crypto but let's not pretend it's something it is not. It also attracts these fly-by-night hucksters like OP who think they can scare and delude people into doing what they want, which is buy more crypto.

by Anonymousreply 85May 7, 2022 12:28 PM

R83 Ayn Rand

Offsite Link
by Anonymousreply 86May 7, 2022 12:34 PM

r82-r85 you are entitled to your opinion of me. The bitcoins I mined in 2009 and 2010 were printed out on 8.5 x 11 paper and not "entered" into a trezor till the trezors were mass marketed and I could verify their security. I mined these bitcoins in 2009-10. Why is the worth of bitcoins in 2013 important? There "worth" in 2013 is hardly a "hole." I never said that my life changed in 2013, but it certainly did after bitcoin hit about $15,000 (much much later). I don't care how many people are recruited into cryptocurrency. I have made my mark, and nothing can take it away from me now. Again, I think there is a tremendous amount of envy and covetous longing on this board.

By the way, the small background program I used to mine bitcoins fit on a 3.5" disk, and is STILL available on the web. Try it out for yourself.

The good fortune of a friend is your good fortune as well.

Go make more friends. You might just increase your fortunes.

by Anonymousreply 87May 7, 2022 12:35 PM

Before Ayn Rand, what philosophy did the robber barons use to justify their greed? Calvinism?

by Anonymousreply 88May 7, 2022 12:36 PM

r88 something like that. But in reality, justification of greed is not required.

by Anonymousreply 89May 7, 2022 12:38 PM

R87 sure, that's why you started this thread, interspersed with random weird unprompted shrieking about the Fed raising interest rates and implying that the US was on the brink of default, all for the obvious purpose of getting people to buy more Bitcoin. It's totally without purpose! Why, you just felt like sharing your wisdom and good fortune!

You do realize we can see everything you have posted here is from the same person, correct? Blame "envy" (aka "haters") all you like, but you aren't making a convincing argument, and you definitely do not seem like a reliable source of information.

by Anonymousreply 90May 7, 2022 12:42 PM

r90 your statement that I started this thread is simply not correct.

by Anonymousreply 91May 7, 2022 12:44 PM

The anti-abortion moves may actually help Dems to get out the votes. That is very much an economic issue, too.

by Anonymousreply 92May 7, 2022 12:45 PM

R91 perhaps not the OP, but you've posted over a third of the posts here, and most are insane rants with lots of ................... and shrieking. Again, hardly a reliable source.

by Anonymousreply 93May 7, 2022 12:50 PM

r90 By all means, think of me as being unreliable. Continue in your shunning of cryptocurrency (for the rest of your life). I actually WANT most people I have met in my life to continue to be poor. That is the only way my financial conquests will continue to be valuable to me. If everyone is "crypto rich", then I would not have achieved anything. (Me) recognizing the tremendous potential returns of Bitcoin back in 2009 (and actually doing something about it *as in actively mining*) is the story of my success. I want everyone else to have less than me.

by Anonymousreply 94May 7, 2022 12:53 PM

R94 I think it's funny how much effort you are suddenly putting into your posts now that you realize we can see all the trolling you've been doing in this very thread. It must be killing you not to add .......................... and other random flourishes.

by Anonymousreply 95May 7, 2022 12:56 PM

BitCoin is an environmental catastrophe. For that alone it's deplorable.

by Anonymousreply 96May 7, 2022 12:58 PM

I die over and over again as I drive "all the way to the bank," just like Liberace!!..........................................................................................

by Anonymousreply 97May 7, 2022 12:58 PM

remember: **I want you to be poor.**

by Anonymousreply 98May 7, 2022 12:59 PM

A strong economy does not require rock-bottom interest rates to (barely) stay afloat. What we have is a bubble.

by Anonymousreply 99May 7, 2022 1:01 PM

R98 you care an awful lot about randos on an anonymous message board.

by Anonymousreply 100May 7, 2022 1:03 PM

R88 The invisible hand perhaps. It can always be paraded about. You know I think Adam smith may have actually been joking when he came up with that.

by Anonymousreply 101May 7, 2022 2:18 PM

Hey guy that made 100 million plus on Bitcoin. I have a ton of respect and admiration for you.

I think that angry poster antagonizing you is the same guy that pops up on a lot of random threads. Don’t feed the trolls..

Anyway, I agree that now is the time to learn about defi, blockchain, crypto. Boomers will be left in the dust.

So just a couple questions. I actually have a few for you.

As the enlightened know, the market is in a huge bubble and will crash harder then 2007 most likely by fall, will crypto fall with it? When would be the best time to invest , during the upcoming financial crisis?

What do you think of meme stocks.. particularly gme, will the MOASS actually happen? Will tokenized stock and an IEX exchange come soon.

Do you think new crypto laws and FTX becoming main stream in USA will lead a crypto gold rush?

Is solana the next ETH ? What coins are in your radar?

Do you believe btc will reach a million per coin like Cathy wood believes?

**The stock market is rigged ( always has been) when the financial catastrophe comes (it will). No one will trust banks and government to handle their money. You will 💯 lose all faith in financial institutions after the upcoming crisis. Crypto and blockchain is not a scam or pyramid. Like someone else said. The elite hate it because it takes away their power and their charade will finally come to an end. All the algorithms that control the market, and the trust people have in institutions will no longer do the trick. The curtain will be lifted. The illusion of a free market exposed.

It’s amazing how people are spoon fed propaganda about crypto and believe it as original thought ( its a pyramid, scam, not backed by anything, will go away) it’s NOT going anywhere. The boomer generation and their way of thinking ( a lot of data lounge , and particularly the angry poster) will die off. Millineials will soon hold the majority of wealth and power. The greatest transfer of wealth is on the horizon. No better opportunity then to make money off of the shift then RIght NOW.

by Anonymousreply 102May 7, 2022 5:53 PM

Sounds like it was a great thing if you got in early but the rest of the people are in ponzi waters. Like you don’t want to be the last guy holding the bag.

by Anonymousreply 103May 7, 2022 6:00 PM

It would be interesting to see the exposure percentage of some of the pushers as opposed to the pushees.

Like Eloligarc Musk probably has 1-2 percent exposure but is pushing for some kid to be in 100%.

Follow these sociopathic “underdog” tech titans at your own peril.

by Anonymousreply 104May 7, 2022 6:04 PM

Yea. Same was said when it spiked in 2017. Was 2017 too late? Obviously not. Your mentality will prevent you from ever making money. And that’s fine, risk / reward is not for everyone. And faith and belief in seeing the future is not as easy as living in fear of unknown. I’m just happy to be part of the “bag holders” 🙃 hehe

by Anonymousreply 105May 7, 2022 6:05 PM

Only in Silicon Valley can you go to Harvard or Stanford on legacy and somehow be an “underdog”.

Give me a break already with it all. It’s obscene.

by Anonymousreply 106May 7, 2022 6:05 PM

What’s with these Ivy League freaks who call others “elite”?

The gumption of it all.

by Anonymousreply 107May 7, 2022 6:07 PM

🤔 r104. Yea all the crypto enthusiast should be studied. The government / sec should definitely step in and “protect” the masses from crypto so they don’t financially harm themselves 😃. They should even turn off the “buy” button on stocks that are trading at values “experts” say are not off fundamentals. The government definitely has the best interest of the investor 🙄. Ty government for protecting us from ways to actually lift ourselves up by using our own hard earned money! The government will definitely protect us so no one will ever suffer holding the “bag” they care so much ! 🙄

by Anonymousreply 108May 7, 2022 6:13 PM

R87, I feel like I should be able to wrap my brain around this. I hear all the negative publicity, and I have no intention of investing, but I still want to be able to have a grasp on how it works. I will start with Wikipedia. The youtube broadcast I watched seemed like it was geared to more advanced understanding.

by Anonymousreply 109May 7, 2022 6:48 PM

r102 it's cute that you think I'm an "angry poster" just because I can see through the load of shite that both you and your friend are shoveling. You guys all sound alike. I know you're trying to appear in the know and reasonable, just here to educate us slobs, but you really should try harder.

The other amusing thing is, I haven't said word one about whether or not people can make money from crypto. Clearly they can! Here's a little tidbit too - I own some myself!

I just find the evangelists of crypto tiresome, much like I do all people attempting to sell a product or service. Because that is exactly what they are here for. Not to commiserate or chit chat with like-minded folk, they are here to SELL. And if I want a sales pitch I'll go sit in on a timeshare seminar.

So yes, please spare us the bullshit sales pitches. We know why you're here.

r109 if you want to learn about Crypto, here is a good resource -

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by Anonymousreply 110May 7, 2022 7:58 PM

I can tell you are not much fun at a party r110. People that know what they know are very content to make money when times change. And, yes, it does make the evangelists better then you because they will enjoy the rewards. An investepedia will not educate you much. I recommend trying a podcast or something. This is the future billionaires , young guys like Sam Bankman Fried will take over the way you see finances in the next decade. They will be the next Gen zuckerburg , musk, gates. World is changing. Get with it or be a grumpy boomer like the above 🙄

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by Anonymousreply 111May 7, 2022 9:55 PM

I’m sure you own very little of signicance of crypto r110. Lol. A couple hundred or thousand in crypto is nothing like the 110 million the guy made that you envy. Sux to be you r110 😆

by Anonymousreply 112May 7, 2022 9:58 PM

r112 I don't think when they send the world's best to Mars after the planet burns up from crypto mining they will be sending the sad salesmen such as yourself and the other guy, even with his imaginary millions.

But you do you! Maybe someday you'll make a buck or two.

by Anonymousreply 113May 7, 2022 10:05 PM

r111 At this point you're just disagreeing to disagree. And I can tell how old you are by what media you send people to - recommending a Youtube video instead of actually reading something tells me you are younger than you are pretending to be.

by Anonymousreply 114May 7, 2022 10:08 PM

Anyway, I've wasted enough time arguing with children - carry on promoting your product, I'm sure you'll find a few takers.

by Anonymousreply 115May 7, 2022 10:09 PM

This site is great:

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by Anonymousreply 116May 7, 2022 10:12 PM

“ the world burns up from crypto mining” such a strange kind of weirdo you are. I guess anyone making money from currency changing is a “salesman”. Even tho they are happy miserable ones like you enjoy staying broke. The guy that made you refer to as my “friend” made 100s of millions not millions. And I absolutely believe him. Remember when you talked about you making a million flipping your real estate. Yea that was hilarious and pathetic that you thought your brag was impressing someone with 100 million +. You just reek of being curmudgeonly. Did you crap in your depends? You seem like like the type to slam the door in a Girl Scouts face when they try to sell you cookies screaming they are part of a pyramid scheme. Yea. You just give bad vibes all around old boomer. So I’ll just say... ok boooomer. ✌️

by Anonymousreply 117May 7, 2022 10:13 PM

You are right r114 I canceled my newspaper subscription years ago. Thanks for the weird compliment then I must be younger then the age I’m pretending to be. You are a hilarious boomer.. okkkkk booomer. 👌

by Anonymousreply 118May 7, 2022 10:15 PM

Is Bitcoin a million dollars yet?? There was some nutter on here years ago CONVINCED it was going to a million dollars a bitcoin!

by Anonymousreply 119May 7, 2022 10:17 PM


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by Anonymousreply 120May 7, 2022 10:21 PM

Doesn't the "hundred millionaire" on here have to SELL his BTC before he can claim to have made over a hundred million dollars? Because if it ain't sold, it's only on paper.

Also, while I'm asking questions: Where is this house located that supposedly went from $330k in 2006 to $1.9 million today? You sure?? I know real estate is currently up compared to 2006, but by a multiple of six?

by Anonymousreply 121May 7, 2022 10:29 PM

R121 I’m about a mile from downtown Austin and yes, it’s the truth. Average sales prices over the past 90 days in my neighborhood have averaged $1.4 million. My house is a 1963 ranch. 2000 SF. Nothing special but hedge funders have thrown millions and millions of dollars at Austin so average folks like us have extremely valuable property now - at least it will be valuable if/when we sell.

by Anonymousreply 122May 8, 2022 12:15 AM

I’m sure the 100 millionaire is just fine. He was worth 200 million in December and I’m sure he will be worth it again. “No palm oil” no one cares about your million dollar ranch house, you are so eager to share details about.l, and the fact you are happy Hedgefunds want to buy up your average house for a million says everything about who you are and where you come from. Those good Hedgefunds also hate Bitcoin, they must be more trustworthy than the Bitcoin sales people . Looooool 😆 you should sell your boomer ranch to them. Close to nursing home age anyway..

by Anonymousreply 123May 8, 2022 12:25 AM

So $1000/square foot to live in Austin? Sum Ting Wong.

by Anonymousreply 124May 8, 2022 1:18 AM

According @unusual_whales Buffett is currently on a stock-buying spree. Instead of buying cryptos, I’d rather invest in companies that are involved with blockchain-tech in one way or another. When it comes to taking advice from investment sites, etc. though👇

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by Anonymousreply 125May 8, 2022 1:16 PM

Also: just because crypto (or NFTs) are a possible hype, doesn’t mean the technology that makes these things possible (blockchain) is. Someday, it will be proven valuable in a way that will even convince people like Buffett. Just because crypto-currency is the first emanation of blockchain doesn’t mean it’s the best.

by Anonymousreply 126May 8, 2022 1:27 PM

Ayn Rand is someone who didn’t factor in the dynamics of Social Psychology and Sociology.

by Anonymousreply 127May 8, 2022 1:35 PM


So many of these every week! Rugpulls and hacks galore!

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by Anonymousreply 128May 8, 2022 1:47 PM

Grifters everywhere

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by Anonymousreply 129May 8, 2022 1:49 PM

Untraceable transactions! Unless you try to get your money out.

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by Anonymousreply 130May 8, 2022 1:50 PM

The world's largest crypto exchange is Binance, and it's Chinese-owned. There's a US version too. Not sure I'd be trusting the Chinese with anything at this point.

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by Anonymousreply 131May 8, 2022 1:55 PM

Can confirm r122.

Austin real estate is nuts and has been for quite some time now. The closer you are to downtown Austin the more expensive your real estate will be. My accountant sold his home to some lesbians for a cool 1.4 million, you could see downtown from the backyard. And this was about six years ago, prices have gone even higher since then.

Long time Austin resident here. I left Austin recently because it had gotten so crowded and it seemed like it was getting hotter (temperature-wise) every year. My house was in west Austin, not cheap but definitely not as pricey as living close to downtown is.

by Anonymousreply 132May 8, 2022 2:01 PM

Pesky lesbians

by Anonymousreply 133May 8, 2022 4:03 PM


West as in Tarrytown or Lakeway? I would say Tarrytown is crème de la creme but sounds as if you are farther out. Sad to see a seemingly good person leaving but I understand. Austin is in my DNA so I’ll stick it out.

by Anonymousreply 134May 9, 2022 12:01 AM

Blockchain is garbage

NFTs are a scam

Crypto is stupid

by Anonymousreply 135May 9, 2022 12:05 AM

Every computer scientist should be able to see that cryptocurrencies are totally disfunctional payment systems, and that "blockchain technology" (including "smart constracts") is a technological fraud. Would they please say that out loud?

by Anonymousreply 136May 9, 2022 12:07 AM

Crypto (and all its derivatives) is a dangerous con game, blockchain is just a waste of time and literally energy — oh, and I’ve got a PhD in CS and 30+ years in industry and research

by Anonymousreply 137May 9, 2022 12:07 AM

Dear early adopter:

Feeling generous? 🙏😃


by Anonymousreply 138May 9, 2022 12:25 AM

R134 near the West Lake Hills area. Several people I had known the entire time I'd been there were leaving around the same time for similar reasons as me. I do love the city but I just got tired of the heat and the increasingly worse traffic. The mood of the city had changed, too.

by Anonymousreply 139May 9, 2022 12:42 AM

WeWork, once valued close to 50 billion, now is less than 10 billion. If you are a stockholder, you might want to bail out before it’s too late or most likely you already did, you spent 50K purchasing their stocks and now you only get 10K back, $50K out $10K in, you lost $40k, where did your $40K go? It lost its market value, everyone in the stock market should know this, you lost your money! Ok but wait a second, a pile of $40K cash is a real thing, it cannot just disappear by itself, it has to be somewhere, where did my $40k go?

It went to the pocket of “MONEY MAKERS” on Wall Street.

WeWork is just one recent example of busted stocks, there were hundreds of them before WeWork, each busted stock or market crash equaled a huge wealth transfer from the banking accounts of mass stockholders to the pockets of selected few TPTB. And they will be hundred of more of such wealth transfer in the future too, Wall Street can create a company from thin air and hype it to billion dollar value then kill it after IPO, they can repeat this cycle for unlimited times whenever they feel like it.

When the fist stock market was opened 400 years ago, it may be based on the idea of borrowing money from the people and returning with some benefits for helping out. But soon, the philosophy evolved to how we we can borrow money but never have to return them… fast forward to modern ear, it has become “siphon” money away from your bank account whether you know it or not, you don’t invest in the stock market, but your retirement or pension fund is, you are already in it and your banking account is already being tapped.

I may sound a bit cynical here but it’s not too far away from the truth either. Since we are talking about bitcoins and cryptos, these are fundamentally different financial products. Bitcoin, for example, is not only a digital currency, also a currency with limited circulations, there are a fixed amount of 21 millions bitcoins available due to the mathematics behind it, 21 millions of bitcoins, that's all we have here in this world, that's why people are mining it, one mined, one gone for good! This limited supply of bitcoins also explained why some people like Buffett dislike Bitcoin almost instantly, because it’s an end game to them, they cannot create bitcoin, think about WeWork and launch an IPO and suck money away from other people.

A lot scary news about bitcoin and cryptos were posted in this thread, they are all true and horrifying, the bitcoin and crypto market is like a lawless wide west now, there is no denying about this. But we don’t use the rampant crimes and lawlessness to discredit the gold rush as a whole, we should not use those horrible stories to write off bitcoins either. The gold rush created real wealth in that era, bitcoins and crypos are creating wealth now.

I mentioned gold, which is a rare metal with a limited supply on earth like bitcoin, also like bitcoin, you can mine gold but you cannot create them, the similarities are here, and interestingly Buffet doesn’t believe in “Gold” either just like he doesn't believe in "Bitcoin", coincidence? No I think not!

by Anonymousreply 140May 9, 2022 2:57 AM

Who cares if bitcoins are limited in supply? There are infinite other "coins" you can buy.

by Anonymousreply 141May 9, 2022 3:39 AM

All the boomers sound the same. So out of touch

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by Anonymousreply 142May 9, 2022 3:44 AM

Since there seem to be some crypto bros on here, does anyone remember a website around five years ago where you could keep it open and in the process mine different coins? I used it for awhile and then forgot about it and now I can't remember the name. I didn't have much in there but it would be nice to see if they are still around.

by Anonymousreply 143May 9, 2022 4:12 AM

I personally don't want to use a currency that swings wildly in "value."

by Anonymousreply 144May 9, 2022 4:20 AM

Yeah. Exactly. Unstable currency is worthless.

by Anonymousreply 145May 9, 2022 2:35 PM

Cryptocurrencies are all the fun of a Ponzi scheme combined with the fun of massive waste of resources, while causing maximum environmental harm. It is a globally destructive fad.

by Anonymousreply 146May 9, 2022 2:36 PM

We Crypto critics aren't saying that "crypto doesn't currently work", they're saying it will *never* work because either the economic ideas or the software architecture are unsound. Or both.

by Anonymousreply 147May 9, 2022 2:37 PM

R88 Smith's Invisible hand was meant to be the hand of god. In other words god is responsible for winners and losers.

by Anonymousreply 148May 9, 2022 7:22 PM

Crypto critics are just like internet critics in the mid 90s. Your argument will not stand the test of time. This thread will age horrible fir crypto critics

by Anonymousreply 149May 9, 2022 11:00 PM

^Keep pumping!!! Faster, faster! Harder, harder!

by Anonymousreply 150May 9, 2022 11:09 PM

I’m gunna cum

by Anonymousreply 151May 9, 2022 11:14 PM

Bitcoin is just a digital token not a currency.

by Anonymousreply 152May 10, 2022 12:36 AM

R21 Wow. You are a weirdo.

by Anonymousreply 153May 12, 2022 4:35 AM

Is it a million dollars yet?

by Anonymousreply 154May 12, 2022 5:07 AM

Isn't US currency backed by the petrodollar?

by Anonymousreply 155May 12, 2022 5:24 AM

I'm going to assume the crypto fanbois in this thread have killed themselves.

by Anonymousreply 156May 12, 2022 5:26 AM

Lol. Old people.

by Anonymousreply 157May 12, 2022 5:35 AM

Yes, yes, let it all out r157. We know you have to be hurting right now. 🥺

by Anonymousreply 158May 12, 2022 5:37 AM

Look on the bright side: Y'all no longer have to move to Puerto Rico!

by Anonymousreply 159May 12, 2022 5:41 AM

r158 Compared to the crypto crash of 2017 this is honestly nothing. I'm basically numb to it at this point.

by Anonymousreply 160May 12, 2022 5:43 AM

Crypto crash is why Gerry Cotten mau have faked his own death right?

by Anonymousreply 161May 12, 2022 5:45 AM
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by Anonymousreply 162May 12, 2022 5:47 AM

I don't have any bitcoins yet, I am thinking about purchasing some, still in the research phase, but I honestly don't think those who own bitcoins would rush to unload them just because it dropped from 30,000 to 20,000, this is not the first time we have seen that, people should be ready for the violent fluctuations in this early stage. It might be a different story for those who flip the bitcoins for quick profit, but for early adopters as long term investment, I would hold on my coins considering how hard to mine and acquire the bitcoin.

by Anonymousreply 163May 12, 2022 6:06 AM

Calling any cryptocurrency an "investment" is a bit of a stretch. It's a speculative gambling vehicle.

by Anonymousreply 164May 12, 2022 6:10 AM

Thank you for the advice from someone who has never bought Bitcoin, it's very valuable, r163.

by Anonymousreply 165May 12, 2022 10:04 AM


by Anonymousreply 166June 23, 2022 12:55 AM

The whole market has been fake since the Reagan era and the introduction of algorithmic trading. Fundamentals matter when market makers want them to matter. It’s a never ending cash cow for the already wealthy. The difference with crypto, is that here, most of the money makers are ordinary people and they don’t want that.

by Anonymousreply 167June 25, 2022 6:00 PM
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