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Thread: In less than a week, Sam Bankman-Fried's $16 billion fortune evaporated

  1. #31

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    Say what you will about Bitcoin, but it is just as risky as anything else. Tell me one thing that has no possibility of evaporation and I will tell you haw it has evaporated in the past. In reality, we are all just grasping at straws, doing our best not to drown when the storm hits and passes.
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

  2. #32

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    Quote Originally Posted by t00nces2 View Post
    Say what you will about Bitcoin, but it is just as risky as anything else. Tell me one thing that has no possibility of evaporation and I will tell you haw it has evaporated in the past. In reality, we are all just grasping at straws, doing our best not to drown when the storm hits and passes.
    Not sure who you are replying to?

    The two previous post, one by goldtiki and one by me, were pro Bitcoin. TIA.

  3. #33

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    Quote Originally Posted by ynot2k View Post
    Not sure who you are replying to?

    The two previous post, one by goldtiki and one by me, were pro Bitcoin. TIA.
    I wanted to quote, but the quote didn't work in the last post. I was actually relpying to three of the posts, but I thought it all boiled down to what I said in the post you replied to.

    You are a bit hard to read. Sometimes I think you are onboard, other times I think you do not like the idea. I honestly do not know what anyone can count on to be secure. Land can be taken by government. Cash can be destroyed by the government and the banks. PM's can be confiscated or outlawed to the point it would be impossible to liquidate. Securities can be floded into the bankrupcy of the corporation or brokerage house. Cars are worthless without gas. A home is worthless when the government can just walk in and seize it. Guns are worthless when you end up having to use them and wind up dead. There is nothing that has not evaporated in the past, except Bitcoin.
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

  4. #34

    Default

    That is so ignorant and laughable on so many levels. We constantly see people with digital assets unable to access them every time the power goes out here. Stop posting blatant lies. You are one hurricaine, or cme, or grid failure, or internet line cut, or hard drive fail, or govt interception when you try to cash out at an exchange, or lost memory stick away from losing your bitcoin.....or are you deliberately hoping we all forgot all those stories in the news? The billions and billions of dollars worth of bitcoin "lost" when exchanges "fail" or are hacked..... ALREADY CURRENTLY HAPPENING ON A WEEKLY OCCURRENCE. Then some reply "Oh, I'll just keep it and never cash out, so I can still have the value". Congradulations, you now have turned it into a non fungible, useless asset.

    Please tell me when gold ever was eradicated/confiscated..... Even during our own govt's attempt to fund WW1 a hundred years ago, people who remained quiet all kept, and used their gold in off-govt radar use, and globally it still was in use. Even the govt let everybody keep gold anyway if it was in certain forms.Obviously you are ignorant of gold trade during that brief period of time. Literally uninterrupted throughout human history.

    Nice try trying to convince yourself that bitcoin isn't actually most likely the first thing to evaporate in global financial meltdowns. Who is going to choose bitcoin in exchange for a survival necessity during hard times, especially as it hasn't even ever been a financially stable value ( massive endemic price fluctuations, dictated by the 30 or so whales that own 90% of it) fiat form of wealth agreed value, ever?

    Oh, and by the way, the ones with the most guns(military might) have always throughout history been the ones who kept their assets while other foes were destroyed.
    Last edited by shades; 11-20-2022 at 10:55 AM.

  5. #35
    Join Date
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    Quote Originally Posted by t00nces2 View Post
    I wanted to quote, but the quote didn't work in the last post. I was actually relpying to three of the posts, but I thought it all boiled down to what I said in the post you replied to.

    You are a bit hard to read. Sometimes I think you are onboard, other times I think you do not like the idea. I honestly do not know what anyone can count on to be secure. Land can be taken by government. Cash can be destroyed by the government and the banks. PM's can be confiscated or outlawed to the point it would be impossible to liquidate. Securities can be floded into the bankrupcy of the corporation or brokerage house. Cars are worthless without gas. A home is worthless when the government can just walk in and seize it. Guns are worthless when you end up having to use them and wind up dead. There is nothing that has not evaporated in the past, except Bitcoin.
    Not sure what you (fully) mean here. You're right, IMO, no "investment" (perhaps except certain useable durable goods) is safe. An EMP attack with enough power at the right location could end all "transactions" and our economy. In that case, some properly stored nourishment and weaponry might be the only things that qualify as a good investment. But I know you don't mean that.

    Bitcoin and gold and silver will not be worth much if all one can do is scrounge to survive and avoid the predators.
    Who are the righteous? ....Markpti

    What value did Burisma think to gain by hiring Hunter Biden as a Board member vs ALL other choices?

    Those who cannot articulate the other argument do not fully understand their own argument.

    "Much can be done by wise legislation and by resolute enforcement of the law. But still much more must be done
    by steady training of the individual - in conscience and character...." .......T. Roosevelt

  6. #36

    Default

    Quote Originally Posted by shades View Post
    That is so ignorant and laughable on so many levels. We constantly see people with digital assets unable to access them every time the power goes out here. Stop posting blatant lies. You are one hurricaine, or cme, or grid failure, or internet line cut, or hard drive fail, or govt interception when you try to cash out at an exchange, or lost memory stick away from losing your bitcoin.....or are you deliberately hoping we all forgot all those stories in the news? The billions and billions of dollars worth of bitcoin "lost" when exchanges "fail" or are hacked..... ALREADY CURRENTLY HAPPENING ON A WEEKLY OCCURRENCE. Then some reply "Oh, I'll just keep it and never cash out, so I can still have the value". Congradulations, you now have turned it into a non fungible, useless asset.

    Please tell me when gold ever was eradicated/confiscated..... Even during our own govt's attempt to fund WW1 a hundred years ago, people who remained quiet all kept, and used their gold in off-govt radar use, and globally it still was in use. Even the govt let everybody keep gold anyway if it was in certain forms.Obviously you are ignorant of gold trade during that brief period of time. Literally uninterrupted throughout human history.

    Nice try trying to convince yourself that bitcoin isn't actually most likely the first thing to evaporate in global financial meltdowns. Who is going to choose bitcoin in exchange for a survival necessity during hard times, especially as it hasn't even ever been a financially stable value ( massive endemic price fluctuations, dictated by the 30 or so whales that own 90% of it) fiat form of wealth agreed value, ever?

    Oh, and by the way, the ones with the most guns(military might) have always throughout history been the ones who kept their assets while other foes were destroyed.
    Tell that to the Jewish people in Germany 1938 to 1944

    Quote Originally Posted by Markpti View Post
    Not sure what you (fully) mean here. You're right, IMO, no "investment" (perhaps except certain useable durable goods) is safe. An EMP attack with enough power at the right location could end all "transactions" and our economy. In that case, some properly stored nourishment and weaponry might be the only things that qualify as a good investment. But I know you don't mean that.

    Bitcoin and gold and silver will not be worth much if all one can do is scrounge to survive and avoid the predators.
    Or a large solar flare.... But if that happens, nothing survives. Stacks and bonds, equities, bank accounts, IRA's.... It is all stored the same exact way cryptocurrencies are.Just saying, not trying to be confrontational.

    Last edited by t00nces2; 11-20-2022 at 11:36 AM.
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

  7. #37

    Default

    The Jewish people in WW2 who were able to escape did so Precisely BECAUSE they had non confiscatable assets that the germans were not able to take from them. (Gold)

    My post was a response to your clear typing and insinuation that the safest asset you have been fooled into thinking, as evidenced by what you typed, is Bitcoin, with the direct statement that bitcoin has never experienced loss and evaporation. I literally this last week, during the big comm failure from the arctic storm in motana saw tourists stranded at a local shelter, who had all their assets in digital form, including bitcoin. (By the way, our local Town-n-Pump store, along with probably at least a third of local businesses, DOES accept gold and silver in exchange for gas, and groceries....daily london spot -5%) Through exposure, and some of us having xrf guns, acid test kits, digital scales, and just exposure and handling, are accustomed to using gold in daily transactions. General populace and individuals only need basic exposure to pm to get it and feel good about real qealth.

    Unfortunately, our new generation of people have been fatally brainwashed into trusting and basing their entire survival upon the false idea that "connectivity" will never be lost. I have nephews in CA that lived, reveled in, and actively promoted this false indoctrination, until they came up last summer to experience a couple months working on our ranch. Just the action of moving away from urban centers opened their eyes to real versus false in many things. They saw our real money stack, asked questions, saw how easily the false god of "powered/connected" lifestyle is actually a dangerous illusion, especially after seeing how they had impossibility exchanging any of their digital "money" to anyone, locally. As a result, they sold off their digital assets to their exchange, and had funds wired to my bank, and acquired physical gold.

    Since a year and a half ago, they have presered their wealth, whereas their fiat digital tokens, including some bitcoin, and a lot of dogecoin would have seen a huge loss. Unfortunately, since the govt now literally keeps track of every bitcoin exchange/cashout, they had to pay $$$ tax bill off that sale that arrived in their mailbox, courtesy of the IRS since they bought it when it was around $6k. (Yet another big reason to not play around with a govt tracked asset)
    Last edited by shades; 11-20-2022 at 12:34 PM.

  8. #38

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    As a side thought, bankers and the US financial industry HAS to charge interest, just to keep their asset portfolio from losing 5%-8% origin value, year over year.

    That is why they have been continuing to try to brainwash the origin loan repayers/interest generators(the little people) to keep buying into the false god philosophy of "If you can't afford something you want now, just borrow from us, ald permanently get 50% of your lifes work equivalent vampirically permanently sucked out of your lifeforce work, permanently, and get it..... Don't pay any attention to the fact that over ypur lifetime, you will actually only end up with about half your total lifes wealth accrual, if you instead worked first to earn enough to buy what you want with cash/no loans. And as a side bonus, money velocity increases, prices of things like major purchase items goes up, as there is more money competing for the items(houses, cars, college education/student debt, etc). Loan officers actively try to discourage you to exhibit self control, save up for a time, and buy with no debt, instead of paying interest for decades for same item you could buy twice over, if you just saved for it first

    I would love to hear Ryanferr try to explain to us why the banking industury actually promotes this as a good thing to a generational families ability to accumulate gross wealth.

    (Hint: easy answer is because they would not exist and go out of business if the little people exhibited ability to have wise money control.)
    Last edited by shades; 11-20-2022 at 12:57 PM.

  9. #39

    Default

    Quote Originally Posted by t00nces2 View Post
    I wanted to quote, but the quote didn't work in the last post. I was actually relpying to three of the posts, but I thought it all boiled down to what I said in the post you replied to.

    You are a bit hard to read. Sometimes I think you are onboard, other times I think you do not like the idea. I honestly do not know what anyone can count on to be secure. Land can be taken by government. Cash can be destroyed by the government and the banks. PM's can be confiscated or outlawed to the point it would be impossible to liquidate. Securities can be floded into the bankrupcy of the corporation or brokerage house. Cars are worthless without gas. A home is worthless when the government can just walk in and seize it. Guns are worthless when you end up having to use them and wind up dead. There is nothing that has not evaporated in the past, except Bitcoin.
    Re: hard to read.

    I own bitcoins. I sold the crapcoins I had.

    Bitcoins origin is hard to read and who is working it is hard to read. The whole CME Futures trading "bitcoins" is too similar to CME Futures trading "gold". I think the futures price will play an overbearing role on bitcoin the same way the futures price plays an overbearing role on gold.

    I just keep an open mind to the possibilities (I think, but I'm kind of like Markpti in regards to this instance. i.e. perhaps confused).

    It is hard to read 2 dimensional pixels well for all of us so let me be clear: I like you and do not mean to come across antagonistically towards you.

  10. #40

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    Quote Originally Posted by ynot2k View Post
    Re: hard to read.

    I own bitcoins. I sold the crapcoins I had.

    Bitcoins origin is hard to read and who is working it is hard to read. The whole CME Futures trading "bitcoins" is too similar to CME Futures trading "gold". I think the futures price will play an overbearing role on bitcoin the same way the futures price plays an overbearing role on gold.

    I just keep an open mind to the possibilities (I think, but I'm kind of like Markpti in regards to this instance. i.e. perhaps confused).

    It is hard to read 2 dimensional pixels well for all of us so let me be clear: I like you and do not mean to come across antagonistically towards you.
    I know. No worries. What I meant was sometimes you seem to be positive and sometimes you seem negative in your viewpoint, and at times it is hard to tell which way you believe in your heart. As far as to taking things personally, text has no verbal context and it is easy to misinterpret what is saaid simply because a pause or a wink or a sneer is totally missing when typed. I really try to do my best to give the benefit of the doubt to anything written.

    I have held onto a few of the smaller coins as a chance to win the lottery again. In my opinion, BTC is going to be a big big winner long term, but
    it is unlikely to go 100x again like it did, one of the crapcoins may.

    I think the main problem with BTC hatred is that people have an understandable doubt (I sure as hell did. I thought I was throwing perfectly good beer money into the trash), and then see the price skyrocket and buy thinking they are going to miss out. Then the run dies out... AGAIN, and the price drops well past what they paid. At that point they scream and can't stand the pain of the paper loss and sell. At that point, there is no reeling them back.... until the price skyrockets again and they buy because they fear missing out.

    I bought a coin when the price of a whole coin was about the price of a good weekend out. I put it away and have held on. I have sold off some a couple times to make sure I harvest a bit of my good fortune and am way ahead of what I have spent? Invested? Gambled? My next harvest will be to contribute to the purchase of the home I will spend the last of my life in, and the remainder will be used to finance the better things I hope will make my retirement enjoyable.
    Now there's no more oak oppression
    They passed a noble law
    Now the trees are all kept equal
    By hatchet, axe and saw.

    I will not comply.

    The Tea Party... quietly plotting to take over the world,
    and leave you the hell alone!

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