Bitcoins are officially donkdown

[Dan Druff]

While I don't know sonatine's timing with his FUCKELON play, presumably he heard that it was a temporary fad, got in, saw it pop, and got out.

He can correct me if I'm wrong.

I think there's something to this strategy. 2021 has been all about the crypto/stock/NFT fads, where you hear something is getting pumped up quickly in value, you jump in for the sole purpose of speculation, and then you hope to get out at or near the peak.

This is different than speculation of longstanding fads like BTC, ETH, etc. In those, you have to believe in them rising long term. That's not what I'm talking about here. I'm talking about short term.

So it's actually not that hard to predict certain things like this are going to pop big time -- at least this year -- provided you get in before everyone and their mother already knows about it.

Having your ear to the ground for shit like this can be really, really valuable.

the second i heard someone created a 'fuckelon' coin because elon was shit talking btc, i knew people would essentially crowdsource its market cap so it rose in the charts.

willie/plop/thomas/brandon can vouch for it; my original thesis was to sit on that $80 and cash out at $800,000. and we were all pretty sure it could get there fast.

some kid bought $17 worth of shibe and cashed out well over a mil. this is the way. you just have to spot the meme and get it before it goes parabolic.

but that has absolutely nothing to do with why anyone would investing in stablecoins, its an entirely different psychology/process.

and to be clear, getting money into shitcoins is weirdly fucking hard. they are scattered all over the place, often have dupes, no liquidity, and require a 15% slippage tolerance. so i only really fuck with BSC, where the fees are still pennies. i could never do this on ethereum main because the $60+ gas fees would eat me alive.

anyway the third school appears to be swing trading those B-tier big market cap coins, which is actually very exploitable and not at all exotic but again, youre fighting gas fees and shit on some blockchains where the rake can be borderline extortion.

by the way thomas made an _excellent_ defi thread on The Other Site which you should be checking out / contributing to, i really think hes onto something with it.

I saw the Defi thread last night, actually. I just developed interest in this. I said myself on radio on Friday night that there was potentially big money to be made in shitcoin, but other than buying some DOGE for Benjamin awhile ago as a gift (and that's not even a shitcoin), I hadn't actually made the effort to do it. I figured it was stupid to talk this up and then not actually do it myself, so I put some time into learning more about it.

Like you, I was surprised at the amount of effort required to do it. I knew it wasn't going to be as easy as getting on Binanace and buying them on an exchange, but yes, the dupes and lack of liquidity was something I had to learn about (thankfully not the hard way).

The FUCKELON thing was a nice play. As soon as I heard of it (which was too late), I thought, "Wow, I wish I had heard of this sooner", because I would have done the same as you.

There is a huge short term speculative vibe in the air these days, which is entirely a 2021 thing. Hard to believe, but just 5 months ago, almost nobody was vaccinated, and NFTs/shitcoin/Reddit stocks weren't a big deal yet. Go just 11 months before that, and nobody had heard of COVID-19 and Trump was a -190 favorite to be reelected.

What a world.

[Sanlmar]

Take a $100 and go down the defi rabbit hole.

Your view of crypto, memes, etc will be vastly affected. I am no crypto evangelista by any means but like an acid trip I’m seeing colors I’ve never seen before.

Eth is a platform and Eth is just the grease that makes the engine run. At this stage of the game, defi is the Wild West. There are outright scams and there are some earnest folk building/coding and rewarding you handsomely to pahticipate.

Defi will persist in some form. You’ll get $100 worth of experience and have some clue what is being written about.

[garrett]

Bitcoin Blockchain due to it's Block Size issues is NOT scaled to be used as a Medium. This is why the Transition over to more BCH integration has to happen now actually. It is because that will resort in HIGH Fees and SLOW Blockchain which is actually currently the problem with the Bitcoin Blockchain. So to fix this current problem, because they cant exactly Change the underlying Code perse but thats not what I know. I know the simple solution is actually, move the usage over to more Bitcoin Cash now.

And in 2017 Bitcoin Cash was a Fork in the Bitcoin Blockchain for EXACTLY this happening now, Mainstream adoption happening and the Bitcoin Blockchain NOT being able to SCALE with its use and Mainstream Adoption/use. Well that Happened, the Mainstream is in Bitcoin now, Wall St is here too. And so the Bitcoin Blockchain is being over used, and is now HIGH Fees, and Slow all reesults of the Mainstream Adoption happening, which did happen already to some extent.

And so this is by design the problem with the Bitcoin Blockchain actually and this has been KNOWN to be a possible Problem for the Bitcoin Blockchain, SCALING. And it did happen, so now Bitcoin is slow and expensive to use. And so that, or this is WHY the actual Transition now HAS got to happen actually. It solves two problems with this one Transition of usage happening, Frees up the Bitcoin Blockchain then, making it Faster again and using BCH is cheaper lower Fees by design. So for these Very reasons, im NOT Speculating I KNOW that Cyrpto and #1 Bitcoin has now reached a Mainstream acceptance level actually, which has consequently now created Massive issues for the Bitcoin Blockchain, Scaling. And that has always been known to be a big possible problem too. And its happening. So the move over to more BCH usage and integration serves two purposes. It lightens the load on the Bitcoin Blockchain, making it fast, and also the comfortability using Bitcoin Cash (BCH) now is way lower Fees. So its cheaper, faster and more efficient. And some how you all dont understand with the Scalability issues of the Bitcoin Blockchain happening currently, now some transition has GOT too happen. Im not speculating friends, you hear me go on and on over the year son this Forum and now honestly, im giving you Free money now. TAKE IT.....

Ethereum easy, its the best Blockchain unequivocally. Open source and Adaptable that is why the NFT craze is starting to hap[pen, and its only going to grow now. Defi and I could go on and on. Ethereum Blockchain after the Eth1 and Eth2 upgrades to lower the Fees (GAS) and then I hope you already own Ethereum by then. Ethereum is a 100k Blockchain Technology. And Vitalik Buterin is also the most influential Crypto person in the world too. He helps it, so honestly one day I believe Bitcoin usability reasons, could actually Fall behind the Ethereum Blockchain. Ethereum is the best Blockchain and currently is being built into our whole lifes as we speak, whether you realize it or not. Blockchain Technology takes the Human error out of it, its fast, almost flawles. And its here to say, and in time will be built completely into our life's. And a new normal especially in Transactional affairs.


There you go the transition to Bitcoin Cash is because the actual current Bitcoin Blockchain problems (HIGH Fees, slow) and that is where other shitcoins may have there day. Ethereum will undoubtedly. but Speculate all you want with the self proclaimed loser, on SHITcoins you do have that right of course.

[TheXFactor]

Bitcoin Cash will NEVER replace Bitcoin.

It not going to happen ever.

Plenty of other coins that are better than Bitcoin Cash with low transaction fees.

https://www.coinmarketcap.com

Cardano ROI...9,435%

Solana ROI...25,182%


Bitcoin Cash ROI...101.21%

Wipe your ass with Bitcoin Cash.

[garrett]

Bitcoin Cash will NEVER replace Bitcoin.

It not going to happen ever.

Plenty of other coins that are better than Bitcoin Cash with low transaction fees.

https://www.coinmarketcap.com

Cardano ROI...9,435%

Solana ROI...25,182%


Bitcoin Cash ROI...101.21%

Wipe your ass with Bitcoin Cash.

First of all I NEVER implied Bitcoin Cash would replace Bitcoin. Don't you ever out words in my mouth again thank you..

Honestly Xfactor I am a bright guy. I did also study Economics in College at Rutgers. Not a shabby University. Which is all this new Crypto Market is, a new Market. So maybe you don't understand that I really do get it and that I also have a formal Economics backround Xfactor.

What I said to be CLEAR is how whether you agree or not the USE of BCH is going to rise now. And it's integration is actually really happening. Bch is on the way to 5k + but that's not the point here.

My point was because Bitcoin Blockchains HIGH Fees and it's slow currently which are all a result actually of Mainstream adoption. Now having happened. Bitcoin Blockchain has Scalbility issues. That has been know to exist Xfactor. And not important Xfactor but maybe I know a Bitcoin Blockchain Core Developer and actually know this is what's happening.

I'm not speculating Xfactor please stop making me flex my Blockchain Technical knowledge noW Xfactor.

Again I'm NOT speculating about this, I'm TELLING you it is happening now. And it has got too, since Bitcoin Blockchain is not designed to handle the scalability of Mainstream Adoption.

Bitcoin Cash however was created for EXACTLY this issue now, Bitcoin Blockchain scalability issues. And it's happening currently, so the move over to more BCH acceptance and Integration, has to happen now.

I'm not speculating I'm TELLING you now that this is actually, exactly what is currently going on in the entire Bitcoin Space Xfactor.

I'm just honestly a nice guy and sharing what I know, it's on you to believe me or not. To each their own of course...

[Gordman]

.

shut up garrett.

Like seriously, every day is worse than the last. Its just getting bad.

Nails on a chalkboard bad

[garrett]

shut up garrett.

Like seriously, every day is worse than the last. Its just getting bad.

Nails on a chalkboard bad

Yeah well guess your one of the stupidest of idiots on this site. I have to be nice, but you really don't deserve the nice me...

Honestly as far as I'm concerned your a fkn idiot on this forum for 10+ years so stfu, thanks moron..

[Gordman]

Like seriously, every day is worse than the last. Its just getting bad.

Nails on a chalkboard bad

Yeah well guess your one of the stupidest of idiots on this site. I have to be nice, but you really don't deserve the nice me...

Honestly as far as I'm concerned your a fkn idiot on this forum for 10+ years so stfu, thanks moron..

Thats another cool story we dont care about but you still need to shut up garrett

[sonatine]

Clearly at this point everyone Wealthy/Important want Crypto exposure and View Cryptocurrency as a real Market now and moving Forward...

CME BITCOIN FUTURES BRIEFLY HALTED AFTER HITTING LIMIT DOWN -10%

[shoeshine box]

BUY BUY BUY Under 38k! Scared to Hold? scared to sell? BUY BUY BUY. ! Cardano. ETH BTC. Buyyyyyyyyyyyy. you mice.

[TheXFactor]

What if he sells all his 92,079 Bitcoins and invests it all in Dogecoin?

Embedded Tweet

https://twitter.com/twt/status/1394625128257007618

[TheXFactor]

Embedded Tweet

https://twitter.com/twt/status/1394638990247088129

[v12cl]

The older I get, the more I'd prefer to invest my retirement in a non-scratcher based economy.

If we all would have listen to Micon, we would all be retired right about now.

[TheXFactor]

The older I get, the more I'd prefer to invest my retirement in a non-scratcher based economy.

If we all would have listen to Micon, we would all be retired right about now.

Maybe not retired but I would've made a few hundred thousand and sold all my Bitcoin at $750 a coin.

No way that anyone would've acquired a lot of Bitcoin back in 2012 and held on it until today.

[Forum Wars]

"Cryptocurrencies basically have no value and they don't produce anything. They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem. In terms of value: zero." - Warren Buffett, CNBC, February 2020

Like, you're basically talking about a way to send money. They have some advantages in that you can put money on grey-zone gambling sites with them. You can also use crypto to get $ out of shitty countries that won't let you take your capital with you.

Call me a financial prude, and with apologies to Garrett (what you talk about is the ***epitome*** of speculating) but, I cannot think of any other benefits of Bitcoins, shitcoins and the lot of them. I'll just sit it out: have fun on the moon fellas.

EDIT: I still may play small money on meme stuff, that IS seemingly profitable...but it's basically gambling.

[garrett]

Micons legend imo

And that guy has caught some beef and difficult shit too in his life as we all kinda know now. It isn't right to not give him credit for being, ABSOLUTELY correct about Bitcoin. And some of you all still for whatever reason dont want to give him kudos for being so out of the park right about Bitcoin, obviously. I know many of you like him and do give him credit, but it needs to be said that he was absolutely Correct about Bitcoin. More then any one person I can honestly think of, when I think all the way back to like 2008 and all. He saw it, what is now known to be real actual Mainstream shift and Adoption of Cryptocurrency in general. And so for that reason, and im not actually a LONG time NWP person. I found PFA maybe more bc of Bitcoin and Micon and i forget, lol but to think back to when I first stumbled upon this place, makes me laugh to myself still actually. And LOL them first couple years here, hilarious. I give Brian Micon a LOT of credit and he was a Visionary in a sense for real. While most of you all were caught up in your own little life's, this guys was trying to like figure out some Future Utopia and LOL some of it is great.

And who knows, and I dont know him at all of course not even from online but Donkdown meh little. So you just hope knowing he has the wife and kid now, somehow someway it is all actually benefitting him. Because he deserves at least that much, for being sooo right about Bitcoin and now Cryptocurrency. I give Brian Micon a lot of Credit for being right about Bitcoin and Crypto too, and thats before credit for all the poker stuff. You just hope its all working out for him and his family now.



tl;dr

[TheXFactor]

"Cryptocurrencies basically have no value and they don't produce anything. They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem. In terms of value: zero." - Warren Buffett, CNBC, February 2020

This shows you how out of touch Warren Buffett is today.

First "cryptocurrency" isn't some sort of replacement currency that was issued by the government.

It is a digital token that has value based on market conditions. Many of these coins utilize the blockchain that can solve certain problems and result in smaller fees when compared to the transfer of money in a financial institution. Crypto has proven that banks are fucking us and instead more of them, we can use far less. Fuck banks and services like Western Union and Moneygram.

Warren Buffett has a World War II mentality.

He invested Billions in railroad. Not high-speed railroad that Japan has, regular railroad like Union Pacific railroad.

Buffett has invested tens of Billlions more in companies like Coca-Cola that have caused a lot of health problems for people. Thank you for supporting companies that are making people fat and unhealthy.

Warren Buffett is just a greedy motherfucker who doesn't care who gets hurt as a result of his investments, he doesn't give a shit as long as he makes money.

[Forum Wars]

"Cryptocurrencies basically have no value and they don't produce anything. They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem. In terms of value: zero." - Warren Buffett, CNBC, February 2020

This shows you how out of touch Warren Buffett is today.

First "cryptocurrency" isn't some sort of replacement currency that was issued by the government.

It is a digital token that has value based on market conditions. Many of these coins utilize the blockchain that can solve certain problems and result in smaller fees when compared to the transfer of money in a financial institution. Crypto has proven that banks are fucking us and instead more of them, we can use far less. Fuck banks and services like Western Union and Moneygram.

Warren Buffett has a World War II mentality.

He invested Billions in railroad. Not high-speed railroad that Japan has, regular railroad like Union Pacific railroad.

Buffett has invested tens of Billlions more in companies like Coca-Cola that have caused a lot of health problems for people. Thank you for supporting companies that are making people fat and unhealthy.

Warren Buffett is just a greedy motherfucker who doesn't care who gets hurt as a result of his investments, he doesn't give a shit as long as he makes money.

I don't think Warren's out of touch with what is happening today at all. Call it the stock market or financial investing in general, wealth creation is still pretty much the same game that it was in the early 1900's or whatever. You get rich by owning ***companies*** that spew cash and grow fast. I agree with you, fuck the banks and Western Union. Some cryptos have helped here, by providing competition to those services, but Paypal works too, and so do checks and electronic wires. Point is, Bitcoin isn't a company that is growing from these benefits...it's a just a cryptocurrency.

Again, Bitcoins and crypto are not entities that have worth in and of themselves. They rely solely on speculation to make money for their owners. You must expect that others will pay more than you did for them, and that is the only way to make money with crypto.

I'm pretty sure Buffett has made a literal fuckton with the railroads. It was either him or Charlie Munger that said it's not like they're facing competition from newly formed railroads over the past quarter century. Plus they had a one-time boost from upgrading existing lines to allow double height cars - that was a brilliant low investment, high return move they benefited from.

I'm never going to defend Coca Cola as a healthful, good-for-the-world company, but, it has been an almost ***unbeatable*** company in terms of profitability through ownership for the past 25 years.

Interesting take on Buffett and him just being greedy. Yes, of course he has invested in companies that have NOT been great from the population as a whole. But those companies would have existed with or without him. It is Buffett's stated intention to donate 99.xxx% of his wealth to charities when he passes...how is that bad?

[VaughnP]

The coordination behind the last couple weeks of bitcoin fud is alarming. Thankfully the weak hands get fewer and fewer.

[TheXFactor]

What if he sells all his 92,079 Bitcoins and invests it all in Dogecoin?

Embedded Tweet

https://twitter.com/twt/status/1394625128257007618

Stop buying Bitcoin you fuck.

I know this guy believes in Bitcoin but you have to jump out of the airplane before it hits the ground.

I blame Elon Musk for crashing the cryptocurrency market not China.

Bitcoin has been over-valued for a while.
Is it worth $50K to $60K per coin? No.

Bitcoin miners are still making a profit at $35K a coin because they were able to buy miners cheap and most companies that want to mine can't get equipment.

Could be a buying opportunity for Crypto but don't buy Bitcoin.