Merged Bitcoin - Part 3

[jeremyp]

How to make something true - repeat it again and again and again and . . . View attachment 69263

The statement you replied to was true the first time anybody made it.

If you had an argument to show it is false, you'd have posted it instead of repeating the "repeating it doesn't make it true" fallacy.

 

[jeremyp]

When this thread first started (speculation was well under way), there quickly appeared 3 camps of posters: The libertarians who thought it would take over the financial world, the doomsday prophets who believed that this was an invention of the devil that would destroy the world and the naive posters who thought that sooner or later, speculators would stop speculating and bitcoin would die a natural death.

None of these positions have ever proven to be the case.

The last option is guaranteed to be true at some point in the future. The only question is whether anybody finds anything useful to do with it before then.

 

[psionl0]

The statement you replied to was true the first time anybody made it.

It was never true. Calling it a "cult" is just an attempt to poison the well. Speculating with bitcoin doesn't have the slightest thing in common with any cult. It is just people looking at the price chart and deducing that there is a reasonable prospect of making a profit with bitcoin.

But "cult" is a bad word so you will repeat this nonsense ad-nauseum.

The last option is guaranteed to be true at some point in the future.

Prove it.

 

[dirtywick]

well that’s not really true and again if you’d have watched the video you’d have a better understanding of what’s meant by the cult comparison. for example, there’s lots of crypto players and influencers selling crypto ownership as a lifestyle. they have their own terminology like HODL or paper hands, mythological origin story of satoshi, etc stuff like that

 

[psionl0]

there’s lots of there are some crypto players and influencers selling crypto ownership as a lifestyle. they have their own terminology like HODL or paper hands, mythological origin story of satoshi, etc stuff like that

ftfy (unless you have proof - and a reasonable definition of "lots of").

Incidentally, "HODL" is a reasonable investment strategy given the price history (but as has been pointed out before, past performance is no indicator of future performance so this is not a guaranteed method to make money).

 

[a_unique_person]

ftfy (unless you have proof - and a reasonable definition of "lots of").

Incidentally, "HODL" is a reasonable investment strategy given the price history (but as has been pointed out before, past performance is no indicator of future performance so this is not a guaranteed method to make money).

For some people crypto is a cult for others it's a rational tool for achieving an end. It's not hard to understand.

A friend of a friend has eight Bitcoin. He's never going to sell them and he's left the country rather than risk having to pay any tax. He's become a Gollum with his precious. That's not rational.

 

[psionl0]

For some people crypto is a cult for others it's a rational tool for achieving an end. It's not hard to understand.

So you agree with me.

A friend of a friend has eight Bitcoin. He's never going to sell them and he's left the country rather than risk having to pay any tax. He's become a Gollum with his precious. That's not rational.

I don't know what the highlighted means but I suspect that it is something you made up. Of course, if you sell BTC then depending on where you live, you might have to pay capital gains tax on the profit (or even income tax on the proceeds). I don't know of any country that would tax you just because you "hodl" bitcoins. I'm not sure that a private citizen is even required to notify authorities of any bitcoins they hold (how would such a law be enforced?).

 

[Pixel42]

I don't know what the highlighted means but I suspect that it is something you made up.

It's actually something Tolkien made up.

 

[Andy_Ross]

So you agree with me.


I don't know what the highlighted means but I suspect that it is something you made up. Of course, if you sell BTC then depending on where you live, you might have to pay capital gains tax on the profit (or even income tax on the proceeds). I don't know of any country that would tax you just because you "hodl" bitcoins. I'm not sure that a private citizen is even required to notify authorities of any bitcoins they hold (how would such a law be enforced?).

What's the point of having all that money when you are never going to spend any of it?

 

[jeremyp]

It was never true. Calling it a "cult" is just an attempt to poison the well.

It absolutely is a cult. You have the believers who buy into it - literally - just on faith, not on evidence. They can't be persuaded that it really isn't a good idea. Many of them behave totally irrationally about it.

Speculating with bitcoin doesn't have the slightest thing in common with any cult. It is just people looking at the price chart and deducing that there is a reasonable prospect of making a profit with bitcoin.

Howe do they deduce it? There's no logical chain of reasoning that sys Bitcoin must always go up. In fact, you can deduce that, at some point the rise must stop because, at some point, everybody who wants to be invested in Bitcoin already will be and there will be nobody left to buy Bitcoin.

You can use inductive reasoning to infer that investing in Bitcoin will make you money but inductive reasoning only works until the counter example comes along.

But "cult" is a bad word so you will repeat this nonsense ad-nauseum.

Let's call it a religion then. That's slightly less pejorative.

Prove it.

Are you serious? Everything comes to an end eventually. One day in the future, Bitcoin will die as everything created by humans eventually dies.

 

[psionl0]

Let's call it a religion then.

Sure. Call it anything but what it practically is - an instrument of speculation.

You can't generate the hatred you want for this technology by just sticking to the facts. You need a word that will shame anybody who would speculate in it.

 

[a_unique_person]

Sure. Call it anything but what it practically is - an instrument of speculation.

You can't generate the hatred you want for this technology by just sticking to the facts. You need a word that will shame anybody who would speculate in it.

It's a climate obscenity.

 

[dirtywick]

it's speculation where certain people have an advantage, more like gambling in a fixed casino. at an incredible energy cost. of course it isn't generally presented as such by crypto enthusiasts, usually it's the critics that are telling you that. crypto enthusiasts tell you it's digital gold, the future of finance, it's still early don't miss out fomo. hodl, straight to the moon paper hands. and that's where the cult comparisons come in, though i prefer the mlm comparison since they use similar sales tactics to get you to join. but then again, mlms can get pretty culty and are often compared to cults themselves so horse a piece i suppose.

 

[jeremyp]

Sure. Call it anything but what it practically is - an instrument of speculation.

It is an instrument of speculation but it is also a cult religion.

You can't generate the hatred you want for this technology by just sticking to the facts.

I'm not trying to generate hatred, I'm just pointing out what Bitcoin is and why most people should have nothing to do with it.

You need a word that will shame anybody who would speculate in it.

Bitcoin needs to die. It serves no useful purpose and consumes vast quantities of resources. You should be ashamed if you gamble on it.

 

[psionl0]

It is an instrument of speculation but it is also a cult religion.

GOTO 4721

 

[psionl0]

it's speculation where certain people have an advantage, more like gambling in a fixed casino.

More made up nonsense. Who is fixing this "casino"?

 

[dirtywick]

More made up nonsense. Who is fixing this "casino"?

you always accuse people of making things up when you should just be asking a question.

do you think the guys running these pump and dumps aren't rigging it so they walk away ahead? like, it's a scam lol obviously they're rigging it

 

[dirtywick]

and even beyond that, gambling in a casino is betting on games of chance in which the bettors can't influence the outcome. obviously not the case in crypto, you can influence the price fairly easily

 

[psionl0]

you always accuse people of making things up when you should just be asking a question.

Because you keep making up dumb analogies without any evidence whatsoever.

do you think the guys running these pump and dumps aren't rigging it so they walk away ahead? like, it's a scam lol obviously they're rigging it

Case in point. You just assume that something negative about bitcoin is true without any investigation at all (and you conflate bitcoin with other cryptos that were created as a pump ' dump).

I have done your research for you.

 

[dirtywick]

Because you keep making up dumb analogies without any evidence whatsoever.

idk you’ve put your foot in your mouth constantly in this thread. pretty ballsy to call someone else’s posts dumb.

Case in point. You just assume that something negative about bitcoin is true without any investigation at all (and you conflate bitcoin with other cryptos that were created as a pump ' dump).

I have done your research for you.

i don’t assume anything, i’ve posted countless links and evidence to this thread to back up my claims. you often refuse to read or look at them. but i don’t conduct myself that way

so thanks, let’s start reading.

While it is true that large Bitcoin holders, often referred to as “whales,” have the potential to impact the market, their influence is often exaggerated.

oh so it’s true they can manipulate the price. strong opening blow to my point.

Myth 2: Tether and its alleged role in manipulating Bitcoin price

Tether, a stablecoin pegged to the US dollar, has faced scrutiny regarding its impact on Bitcoin price. However, extensive investigations and audits have failed to provide concrete evidence of Tether being used to manipulate Bitcoin prices.

tether has never been audited, for one and two i’ve posted a lot of evidence to the contrary. what year was this written?

should i keep reading?

Despite the myths surrounding Bitcoin price manipulation, there have indeed been instances where manipulative practices have occurred in the Bitcoin market.

yeah glad i did.

Pump and Dump Scheme

In a pump-and-dump scheme, a group of individuals artificially inflates the price of a cryptocurrency, including Bitcoin, by spreading positive news or creating a sense of hype around it. This increased demand drives up the price, allowing the manipulators to sell off their holdings at a profit. Once the manipulators have sold their coins, the price typically plummets, leaving other investors at a loss.

didn’t you just tell me how dumb that is? lol

i’m going to stop. read your links