You are either Larry or a super advanced troll pretending to be Larry. Don't act like there are other choices little drummer boy.
You are either Larry or a super advanced troll pretending to be Larry. Don't act like there are other choices little drummer boy.
I’ve told this story before but I love it so.
So it’s like 2000 or 2001. I had a technician working for me. Probably late 20’s. His wife was one of the first secretaries at CMGI in Mass.
The economy is on steroids. You couldn’t find new hires to save your life. I spent more time talking to head hunters than my wife.
This tech walks into my office and politely hands in his notice. I ask, “Why? You want more money?”
“No”, he says. “Wife had CMGI stock and options and they are now millionaires.”
Long story short. Kid came back looking for work about a year later. They never sold the stock and it was now worthless.
Valuable experience I never forgot.
Wonder if the kid committed suicide.
The bitcoin suicides will be good reading.
Or I could just be a non-Troll who knows Larry. Since you guys don't know anything about me, there isn't really anything to say to me except for Larry references, since no one here can really put up a real debate.
Usually trolls say things that are not true or easily falsifiable in order to garner attention, while I am actually a quick injection of reality that interrupts the persistent stream of drivel.
Bitcoin is illiquid, you cannot go into BOA with 10,000 bitcoins and walk out with a check. You'd get laughed out of the bank, they would never take it. It's a currency that converts to cash on the margins, a few here and a few there. The third parties don't have the cash reserves to handle any order say by the country of Bulgaria which has $3B Bitcoins. Bulgaria could tank the market tomorrow if they wanted to.
The only thing holding up bitcoins are the technicals (I used to know what that meant back in the Dot.Com years, been too long but still know the broad concept). Everything I have read is the huge margin call is going to be electricity costs by the miners, they will have to sell to keep the lights on, then its a stampede for the exit.
There is some 18 year old who turned $1,000 in bitcoins into a couple million. Basically when he was 14 he bought them, held and is now worth a couple million. Last month he was taunting Jamie Dimon CEO of Chase to a boxing match and claiming JD had dementia. You want to know what is all that is wrong with bitcoin, it's just what I said. You have the same d-bags who think they know everything, like I did in my early 20s trading penny stocks with no float. It always ends badly, this time though I am on the sideline watching. Getting older does have its advantages in some cases.
lol i took a bath on cmgi as well, they acquired a company i worked for like weeks before The Great Bubble burst.
regardless i think we all know how this is going to play out; btc is going to implode and a few thousand ambitious brokers are going to end up swinging from the rafters because they put all their clients money in beanie babies 2.0 and suddenly the music stopped.
"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
I know someone who is a successful prop bettor who went long BTC about a year ago after the crash through $1K a coin. Literally bought in about a week after the low was in. Sunk in $80K or so. He sold 25% at $10.5K and it was enough to pay off his house and have a bunch of cash left over.
He made a posting and said he already figured out what his exit number was. If BTC hit $15.75K he would have enough cash on a complete sale to pay off the IRS buy a huge insurance annuity and have enough money left over to retire.
I'm proud to say he pushed the button this morning. He's quitting on Monday assuming the $$ hits his checking account.
True, but most just re-invest in the next big thing and get crushed again, and again. It's a gamble. I knew a guy who made a killing 'investing' in oil and gas. He had $5M at one point. 7 years later he was broke and in rehab, lost all of it in high risk fracking in Ohio. It's tough to walk away, very few can do it, there are exceptions of course.
meanwhile:
$17,542
Bitcoin is now worth more than Walmart and McDonalds combined.
https://www.rt.com/usa/412223-niceha...acked-million/
My guess is, a shitload of bitcoin will be stolen, price will drop....they've hacked bitcoin already.......I'll still rag on sonatine until then
"Druff would suck his own dick if it were long enough"- Brandon "drexel" Gerson
"ann coulter literally has more common sense than pfa."-Sonatine
"Real grinders supports poker fraud"- Ray Davis
"DRILLED HER GOOD"- HONGKONGER
The bigger it gets the more likely the controls (legislation) against money laundering etc become.
Gored by its own success. The collision and near fatality is inevitable. Who knew they’d keep their hands off this long.
Al Franken was prolly just about to file a bill.
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