Bitcoins are officially donkdown

[Brittney Griner's Clit]

You are either Larry or a super advanced troll pretending to be Larry. Don't act like there are other choices little drummer boy.

[Sanlmar]

I remember circa 1998, geez almost 20 years ago when I thought I was going to be a multi-millionaire by trading dot.com stocks. I was in my first apartment and watching CNBC and I saw an analyst and he was fielding questions. He was older in his 50s and someone like me called him up and asked about CMGI. CMGI was called an "internet incubator" as was worth like $100 B literally. The caller said something of the effect "Is CMGI worth $200 a share or is it over-valued?"

He calmly looked into the camera and said "I cannot value companies that have no real earnings" and took the next question with nothing further on CMGI. A couple years later CMGI effectively dissolved. I believe Bitcoin will meet the same fate, it has no intrinsic value because as a currency it's not backed by anything. There is a reason why a dollar is worth so much more than a PESO, it is measurable.

A lot of people are going to get destroyed on bitcoin, but a few will make a ton of money. I think daytrading this 'currency' is so dangerous, its worse than E-Toys back in the day. One day people will wake up and see a 90% erosion and start hanging themselves.

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.

[GringoStar]

You are either Larry or a super advanced troll pretending to be Larry. Don't act like there are other choices little drummer boy.

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.

[GambleBotsChafedPenis]

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.

ive spewed this a ton before...all about the marginal utility of a buck...hurts a helluva lot more to go from low 7 figures of net worth to 5-6 figures than it feels good to go to high 7 figures-low 8 figures...

[GringoStar]

Sitting pretty over here. Could not be more glad I did not take Sonatine's sophism seriously.

Hey what's up weirdo? Does larry own any bitcoins?

Nice comeback. Predictable Larry reference without touching on anything involving reality. You live a little life. Get off Larry's dick and get out in the world.

[Brittney Griner's Clit]

You are either Larry or a super advanced troll pretending to be Larry. Don't act like there are other choices little drummer boy.

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.

Right. But in this particular instance it's either Larry or a super advanced troll pretending to be Larry.

[snake_in_the_ass]

I remember circa 1998, geez almost 20 years ago when I thought I was going to be a multi-millionaire by trading dot.com stocks. I was in my first apartment and watching CNBC and I saw an analyst and he was fielding questions. He was older in his 50s and someone like me called him up and asked about CMGI. CMGI was called an "internet incubator" as was worth like $100 B literally. The caller said something of the effect "Is CMGI worth $200 a share or is it over-valued?"

He calmly looked into the camera and said "I cannot value companies that have no real earnings" and took the next question with nothing further on CMGI. A couple years later CMGI effectively dissolved. I believe Bitcoin will meet the same fate, it has no intrinsic value because as a currency it's not backed by anything. There is a reason why a dollar is worth so much more than a PESO, it is measurable.

A lot of people are going to get destroyed on bitcoin, but a few will make a ton of money. I think daytrading this 'currency' is so dangerous, its worse than E-Toys back in the day. One day people will wake up and see a 90% erosion and start hanging themselves.

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.

Bitcoin a religion to most people, they will never sell. Still think she doubles or triples from current levels before the Wall Street thugs pull the rug from underneath. Maybe a sell the news this weekend with the futures coming out and then one final surge to 50k.

[Scandinavian Bob]

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.

[sonatine]

CMGI.

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.

[BetCheckBet]

CMGI.

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.

True but I imagine that in the case its all the late adopters that will lose. All the bitcoin guys who got in in the last year will make a fortune. Even if bitcoin loses 90% of its value it's still at 1600 which is a huge profit for guys like Micon.

[Krypt]

I remember circa 1998, geez almost 20 years ago when I thought I was going to be a multi-millionaire by trading dot.com stocks. I was in my first apartment and watching CNBC and I saw an analyst and he was fielding questions. He was older in his 50s and someone like me called him up and asked about CMGI. CMGI was called an "internet incubator" as was worth like $100 B literally. The caller said something of the effect "Is CMGI worth $200 a share or is it over-valued?"

He calmly looked into the camera and said "I cannot value companies that have no real earnings" and took the next question with nothing further on CMGI. A couple years later CMGI effectively dissolved. I believe Bitcoin will meet the same fate, it has no intrinsic value because as a currency it's not backed by anything. There is a reason why a dollar is worth so much more than a PESO, it is measurable.

A lot of people are going to get destroyed on bitcoin, but a few will make a ton of money. I think daytrading this 'currency' is so dangerous, its worse than E-Toys back in the day. One day people will wake up and see a 90% erosion and start hanging themselves.

I swear this guy, sanlmar, and sonatine are so fun / trippy to read when I’m high

[Daly]

I remember circa 1998, geez almost 20 years ago when I thought I was going to be a multi-millionaire by trading dot.com stocks. I was in my first apartment and watching CNBC and I saw an analyst and he was fielding questions. He was older in his 50s and someone like me called him up and asked about CMGI. CMGI was called an "internet incubator" as was worth like $100 B literally. The caller said something of the effect "Is CMGI worth $200 a share or is it over-valued?"

He calmly looked into the camera and said "I cannot value companies that have no real earnings" and took the next question with nothing further on CMGI. A couple years later CMGI effectively dissolved. I believe Bitcoin will meet the same fate, it has no intrinsic value because as a currency it's not backed by anything. There is a reason why a dollar is worth so much more than a PESO, it is measurable.

A lot of people are going to get destroyed on bitcoin, but a few will make a ton of money. I think daytrading this 'currency' is so dangerous, its worse than E-Toys back in the day. One day people will wake up and see a 90% erosion and start hanging themselves.

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.

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.

[Scandinavian Bob]

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.

True but I imagine that in the case its all the late adopters that will lose. All the bitcoin guys who got in in the last year will make a fortune. Even if bitcoin loses 90% of its value it's still at 1600 which is a huge profit for guys like Micon.

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.

[Scandinavian Bob]

meanwhile:

$17,542

Bitcoin is now worth more than Walmart and McDonalds combined.

[snake_in_the_ass]

meanwhile:

$17,542

Bitcoin is now worth more than Walmart and McDonalds combined.

No, you are looking at the total market cap of all the coins.

[Scandinavian Bob]

meanwhile:

$17,542

Bitcoin is now worth more than Walmart and McDonalds combined.

No, you are looking at the total market cap of all the coins.

I see you are correct, so just the market cap of Wal Mart, about $250B? I mean, tomorrow it could be larger than Microsoft.

[snake_in_the_ass]

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.

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.

Love hearing stories like this. What did he make, 2-3 million?

[Daly]

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.

Love hearing stories like this. What did he make, 2-3 million?

I think it's low 3's.

[Mintjewlips]

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

[Sanlmar]

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

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.