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Thread: Bitcoins are officially donkdown

  1. #7281
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    Quote Originally Posted by DJ_Chaps View Post
    Quote Originally Posted by NickyPipes View Post

    Chaps is a broke guy, barely makes minimum wage living in a studio apartment spending his meager income on drugs!

    Blah blah blah lol. You’re talking to yourself kid.
    Pipes makes more in a month then you do in a year! My bottom Bitch makes more in a month than you do in a year! My tax bill is bigger then your income! Drug addict very sad

  2. #7282
    Nova Scotia's #1 Party Rocker!!!!11 DJ_Chaps's Avatar
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    Quote Originally Posted by NickyPipes View Post
    Quote Originally Posted by DJ_Chaps View Post


    Blah blah blah lol. You’re talking to yourself kid.
    Pipes makes more in a month then you do in a year! My bottom Bitch makes more in a month than you do in a year! My tax bill is bigger then your income! Drug addict very sad
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    Chaps' 2017-18 NFL $$ Thread

  3. #7283
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    Quote Originally Posted by Sanlmar View Post

    Bitcoin is Netscape
    Believe it or not, this simple three word sentence has really had me thinking since you posted it. Thinking outside the box and beyond the current paradigm.

    I was around and remember everything before, during, and after Netscape.

    GREAT analogy. Well done

     
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      Sanlmar: Been thinking about this myself after writing this. You could write several paragraph of comparison.

  4. #7284
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    BTW, Welcome back DJChaps! I was wondering where you went. Glad to see you back.

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    Gold Forum Wars's Avatar
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    Quote Originally Posted by Dan Druff View Post
    Dead cat bounce indeed. This is exactly why I told people to stay away.

    In case you're wondering, I had about 40-45k in crypto before this latest crash. So while this is somewhat painful, it's not devastating in any way. For some in poker, who attached a large amount of their net worth to crypto, this is a big problem.

    Of course, as Gordman pointed out, some of them didn't have such riches just 8 months ago, so you can't feel too bad for them. I do feel bad for the people who just bought in semi recently.
    Surprised...thought you were less than lukewarm on crypto as an investment...I don't know why I thought that.
    Last edited by Forum Wars; 05-21-2021 at 06:43 PM.

  6. #7286
    Diamond TheXFactor's Avatar
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      rum dick: Lol gonna by some now

  7. #7287
    Plutonium simpdog's Avatar
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    Cryptocurrency lender start-up BlockFi accidentally sent users huge amount of bitcoin as part of a promotion – and is now asking for it back.

    One person received 701 btc.


    Apparently they sent people btc instead of fiat or another crypto.

     
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      Sanlmar: DeFi. Taking the math out of finance
      
      shoeshine box: fahgedaboudit.....works both ways...
      
      Forum Wars: Saw a press release where they said that 701 btc error was fixed fast and this will have a limited effect on them, basically "non-material". But LOL that a company did this.

  8. #7288
    Gold Forum Wars's Avatar
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    Crypto, specifically the blockchain aspect: not sure I get why we need 'em. Convince me.

    Remember those things we've already been using to keep track of everything: databases? Yeah, they work, and they do what blockchain does (in private, which is 100% what commerce needs). Lots of methods to send $$ online. Credit cards are free to use and have been for decades now. Paypal is a fucker of a company, but they work too as do a host of other non-blockchain online methods.

    Crypto is mostly just a get rich quick scheme to me. Except it ***IS*** good for moving money to sites where you won't get in trouble as the customer (gambling/sportsbetting!!!). It is also pretty amazing for getting your money out of countries that try to control currency movements. So there is some utility value, for sure, but there's soooooo many coins you can use for this, that the value of any coin should be limited.

    I also have this opinion: Bitcoin, 19,xxx,xxx of 21,xxx,xxx max mined currently. So scarce and not growing. But all crypto in aggregate is NOT scarce. And scarcity alone doesn't mean something is valuable.

    Crypto will continue to go all over the place in value, I believe. It will be hard to guess where it's going cuz intrinsically each coin is worth ZERO. So it's a speculative thing, it's not an investment!

    Meme catching should be ok for a bit longer and will be fun and a money maker. No idea where the Netscape-Bitcoin will head; just because it's the granddaddy of crypto, does that matter?

     
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      shoeshine box: food for thought.

  9. #7289
    Gold Forum Wars's Avatar
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    Is this a joke? 9-steps to get Cummies for your fiat:

    Name:  9-steps.jpg
Views: 365
Size:  178.4 KB




     
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      shoeshine box: lost me at Kucoin

  10. #7290
    Diamond TheXFactor's Avatar
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    CumRocket is the future of Cryptocurrency.

    Cummies are their digital token which will guarantee that you get laid and make a fortune.

    They are mainly an NFT platform for pornstars.


  11. #7291
    Plutonium Sanlmar's Avatar
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    Quote Originally Posted by Forum Wars View Post
    Crypto, specifically the blockchain aspect: not sure I get why we need 'em. Convince me.

    Remember those things we've already been using to keep track of everything: databases? Yeah, they work, and they do what blockchain does (in private, which is 100% what commerce needs). Lots of methods to send $$ online. Credit cards are free to use and have been for decades
    Finance is going to be massively AI and this will happen quickly.

    Smart contracts and the like on the blockchain reduce overhead in a colossal way. Sure your credit card is free to hold but the finance charge has to pay for brick and mortar. The cost of finance is dramatically reduced. Instead of brick and mortar and headcount you have blockchain recording the agreements.

    Something like this is positively coming.

    I really don’t want to conflate AI and DeFi too much. Present smart contracts are pretty rudimentary. But AI & DeFi will conjoin soon.

    Just riffing now but.
    Elon talks a lot about AI and it’s impact on our lives and employment. For all his warts one thing Musk is intimately involved with in a tangible and non academic way is AI. Self driving cars and all that. What interests me most is Musk is very worried about AI’s impact. I understand Musk is about bringing the hits and much of his schtick is schtick but he makes some compelling arguments.

    So today’s DeFi is pretty beta. Something will emerge. What is happening atm is that you are getting rewarded to participate and add liquidity. You risk getting scammed too. Such is crypto.
    Last edited by Sanlmar; 05-22-2021 at 11:48 AM.

  12. #7292
    Diamond TheXFactor's Avatar
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    Elon Musk is full of shit.

    He has made Billions by manipulating the stock market and lying his ass off.

    Hustle, Hustle, Hustle.


  13. #7293
    Master of Props Daly's Avatar
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    Name:  68025600-30F5-4DAD-B98A-BB4F458D3884.jpeg
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    Quote Originally Posted by TheXFactor View Post
    Elon Musk is full of shit.

    He has made Billions by manipulating the stock market and lying his ass off.

    Hustle, Hustle, Hustle.


  14. #7294
    Gold Shizzmoney's Avatar
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      rum dick: Amazing
    http://www.miraclecovers.com

    "Donk down, that’s what you say to someone after they have lost 28K straight?" - Phil Hellmuth, online

  15. #7295
    Diamond Walter Sobchak's Avatar
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    Quote Originally Posted by sonatine View Post
    Quote Originally Posted by Walter Sobchak View Post

    Well no offense to anyone on the forum who may be in that situation, I am not going to laugh at their misfortune, but to borrow money you can't afford to pay back and putting it into an extremely speculative asset is just fucking stupid beyond stupid.

    thats not what hes talking about really. leverage is the principle driving force behind the price of btc. there are a literal handful of retail traders who arent trading on margin. the overwhelming majority of btc positions are levered more than you could possibly suspect. the crypto millionaires (many times over) got there because sites like bitfinex (iirc?) were letting them lever up 100x with zero paperwork pretty much.

    seriously.

    subtract all that leverage and btc would probably be trading at about $1k top range, providing cryptards wouldnt have gotten bored with their $17 a day profit and chunked it off on flash blackjack games while it traded sideways.
    I am not really on top of how things work in the world of bitcoin, but if what you say is true, that's even more reason to stay the fuck away.

    SOBCHAK SECURITY 213-799-7798

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    Diamond Walter Sobchak's Avatar
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    Real?

    If so I hope they are caught and prosecuted. But seriously, LO fucking L at shitcoin.

    SOBCHAK SECURITY 213-799-7798

    PRESIDENT JOSEPH R. BIDEN JR., THE GREAT AND POWERFUL

  17. #7297
    Plutonium sonatine's Avatar
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    Quote Originally Posted by Walter Sobchak View Post
    Quote Originally Posted by sonatine View Post


    thats not what hes talking about really. leverage is the principle driving force behind the price of btc. there are a literal handful of retail traders who arent trading on margin. the overwhelming majority of btc positions are levered more than you could possibly suspect. the crypto millionaires (many times over) got there because sites like bitfinex (iirc?) were letting them lever up 100x with zero paperwork pretty much.

    seriously.

    subtract all that leverage and btc would probably be trading at about $1k top range, providing cryptards wouldnt have gotten bored with their $17 a day profit and chunked it off on flash blackjack games while it traded sideways.
    I am not really on top of how things work in the world of bitcoin, but if what you say is true, that's even more reason to stay the fuck away.

    i mean from a certain perspective, the whole point of wall street is that its a place where people can get levered up to their greasy tits while buying insurance from the house.

    a lot of the blowback about retail traders is they are sky diving without a parachute. there will be no bailouts for robinhood's many, many casualties.
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

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    Diamond Walter Sobchak's Avatar
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    Quote Originally Posted by sonatine View Post
    Quote Originally Posted by Walter Sobchak View Post

    I am not really on top of how things work in the world of bitcoin, but if what you say is true, that's even more reason to stay the fuck away.

    i mean from a certain perspective, the whole point of wall street is that its a place where people can get levered up to their greasy tits while buying insurance from the house.

    a lot of the blowback about retail traders is they are sky diving without a parachute. there will be no bailouts for robinhood's many, many casualties.
    Yeah you're right Wall Street is Wall Street and some guy living in his mom's basement leveraging to buy bitcoin is not. The system is stacked against you, so adjust your risk accordingly.

    SOBCHAK SECURITY 213-799-7798

    PRESIDENT JOSEPH R. BIDEN JR., THE GREAT AND POWERFUL

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    Gold 4BET's Avatar
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    Quote Originally Posted by 4BET View Post
    I think we will see 25k in the coming days. The question is will it find support at 25k. Unreal almost cut in half in a matter of days
    Getting close, 32ish and dropping like a brick in the ocean
    -Allergic to the struggle

  20. #7300
    Plutonium sonatine's Avatar
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    if we drop below 30k, a reasonable potential floor here is something like 18.6k and im not kidding.
    "Birds born in a cage think flying is an illness." - Alejandro Jodorowsky

    "America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs

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