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Breaky Bitcoin Blues

Slideways

I was having the porridge this morning with a few colleagues, and the chat came around to cryptocurrency. Turns out they all got roasted buying bitcoin, Ethereum and other coins during the bubble in November and December of last year. Two of the lads are going to sell their remaining coins this week, and put the whole thing down to getting greedy and falling for a classic pyramid scheme. One other lad (a hard-living Scot) was threatening to track down an ex-colleague of ours and ‘put the slipphery wee kunt in a grave’ for talking the group into buying these coins in the first place.

One of them was worth almost 900k Aussie dollars at the height of the bubble. He was boasting back in December about buying a yacht, moving to Puerto Rico, and shacking up with some local bird with his epic crypto gains. His investment is now worth less than 3k.That’s shocking stuff. You’d hear very little these days about the space in the papers, or on the telly. Did anyone here lose the arse of their trousers gambling on these coins, and did you learn a lesson? Has it any future at all? Was it greed, stupidity, or a mixture of both that caused young lads to throw their savings into this stuff? You’d have to stroke your chin and wonder what they were thinking.

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Standman

Seriously though, Lad, all joking aside, do you reckon bitcoin will bounce back? Should I cash in or buy up?

The mother or whatever is in a hoop!

JustAYoungLad

Woke Hogan wrote: »

lol. A video game reference. Open the curtains and join us in the real world, "mate."

NPC reply.

‘PaY YoUr TaxeS iN ThE REaL WoRLd m8’

Again i probably have a healthier social life than you. Theres really no need to project

JustAYoungLad

Standman wrote: »

Seriously though, Lad, all joking aside, do you reckon bitcoin will bounce back? Should I cash in or buy up?

The mother or whatever is in a hoop!

Its over lad. Atleast for the next few years.

[Deleted User]

Standman wrote: »

Seriously though, Lad, all joking aside, do you reckon bitcoin will bounce back? Should I cash in or buy up?

The mother or whatever is in a hoop!

Destination = 0 as anyone with a brain has known for years.

It's only the NPC types who swallow any old rubbish they read online who haven't realised it yet.

Am I doing this right?

Standman

JustAYoungLad wrote: »

Its over lad. Atleast for the next few years.

Thanks. I was actually on the American website "reddit.com" (no shill) just now - a guy (official bitcoin admin) there told me that word on the deepweb is that bitcoin is about to hit its highest levels ever!

Definitely placated the wife a bit, for now at least.

Cheers anyway.

Obvious Desperate Breakfasts

JustAYoungLad wrote: »

Yes mate im so rejected by my family, friends and uni. Thats why i dont like paying taxes
Thats NPC tier arguments lol

Uh huh. Uni.

seamus

I love when people leave school, get exposed to all these new ideas (new to them anyway), and start to believe that they have the answer, that they know something that the rest of the world doesn't know, like they have a unique view and can see exactly what everyone else is missing. Everyone else is just a conformist moron that can't stand up for themselves.

Being honest, we've all done it. It's only when you get older you realise how narrow-minded you really were and none of the ideas were "new" at all; other people had seen it all before under a different name.

Good Luck with your endeavours Young Lad.

Right now, €50 will get you 0.01271441 BTC. Come back to me on 1st January 2021 and if 0.01271441 BTC is worth €50 or more, I will give you double that.

Standman

Ah don't be too hard on Lad, he's just a young lad after all.

And he was very helpful with me and my bitcoin issues/wife's emotional state.

JustAYoungLad

seamus wrote: »

I love when people leave school, get exposed to all these new ideas (new to them anyway), and start to believe that they have the answer, that they know something that the rest of the world doesn't know, like they have a unique view and can see exactly what everyone else is missing. Everyone else is just a conformist moron that can't stand up for themselves.

Being honest, we've all done it. It's only when you get older you realise how narrow-minded you really were and none of the ideas were "new" at all; other people had seen it all before under a different name.

Good Luck with your endeavours Young Lad.

Right now, €50 will get you 0.01271441 BTC. Come back to me on 1st January 2021 and if 0.01271441 BTC is worth €50 or more, I will give you double that.

Nah mate. I exited afte the eth crash. I didnt make millions but its paid off my student loans. Ive made peace with the rest of society paying taxes. After all we cant all the main characters.

JustAYoungLad

Obvious Desperate Breakfasts wrote: »

Uh huh. Uni.

Yes Mr. NPC. I paid for uni with my ethereum earnings lol

RoboRat

I have invested a bit in crypto, it's money that I can afford to lose but obviously I would rather not. It's a calculated risk and I decided to look at crypto rather than traditional stocks as the tech interested me.

I picked specific projects that I felt had scope and a purpose and I didn't just invest in whatever was being promoted or shilled. I had been monitoring it since 2013 but hadn't invested, even during the massive gains, I wanted to see where it was going.

I feel there is an inevitability about it and if you do international business you can easily see the benefits. I have sent money for goods and it's taken 5 days to clear, this holds off production for 5 days and then I have to pay a €12 charge, plus my supplier pays a charge. Goods finish production and I have to pay the balance after inspection, another 5 days and €12 charge. With crypto, I would gain 10 days and the charges are a lot less.

People talk about it being a pyramid scheme but the reality is that it's not too different from traditional currency, most of which is digital anyway. If 10% of the population were to withdraw all their money in cash, the banks would run dry. Currency is only based on trust anyhow, the trust that if I give this note, you will honour it's value. When governments get into trouble they print more and it devalues the actual value so your trust is in the government really (not something that a lot of people have). With most crypto's there is a finite amount that are available so therefore the option to print more is not feasible.

Crypto is already established and being used in many real world applications via decentralised platforms, blockchain, smart contracts etc. Some of the biggest companies in the world are using blockchain and crypto technology and it will be come more prevalent in the near future. If you think this its BS, think about the technological advances we have made in the last 20-30 years. 10 years ago cash was king, nowadays, I can't remember the last time I had cash in my wallet... I rarely carry it and use my card or phone. Many thought leaders in the 80's went on record to say the internet was just a fad, there was no practical use. The list goes on. The bottom line is that we are moving to a global community, we buy things from all over the world, in different currencies and currency is an obstacle as it stands.

Whether crypto as a currency will take over in it's current form is uncertain but the technology will. It's also uncertain whether it will ever reach the values it attained in late 2017, perhaps it will, perhaps it won't, perhaps it will soar higher... nobody knows, but adaption to the tech can only help it. All it takes is the likes of an Amazon using it and it's value and prominence would soar.

This isn't a shill or call to buy crypto, personally I don't care. If I lose all my investments but it paves the way for the technological advances through that investment, then it's somewhat worth it and perhaps I may make my money back on lower bank charges and quicker transfer times :-)

Wibbs

JustAYoungLad wrote: »

Truly an NPC way of thinking. Does it scare you that other people think differently?

It might, or might not. It's hard to say as so very few do.

seamus wrote: »

I love when people leave school, get exposed to all these new ideas (new to them anyway), and start to believe that they have the answer, that they know something that the rest of the world doesn't know, like they have a unique view and can see exactly what everyone else is missing. Everyone else is just a conformist moron that can't stand up for themselves.

Being honest, we've all done it. It's only when you get older you realise how narrow-minded you really were and none of the ideas were "new" at all; other people had seen it all before under a different name.

True S. And this is generally A Good Thing™. It's the job of being young to be non conformist, to wind up old farts as often as possible and in as many ways as possible. I'm not sure I'd agree that getting older brings any particular wisdom to bear in most. In most, Real Life™ gets in the way and the opportunities to think outside of whatever suburban semi dee mindset one finds oneself in are scant enough. I have found many just figure out a path of least resistance and stick to it. And actually don't really think beyond that comfort zone. Actively avoid it in many ways. Unless their lives go to crap and they have to think outside that box.

Standman

JustAYoungLad wrote: »

... After all we cant all the main characters.

I know what you mean, Lad.

Life is a game of snakes and ladders, and we're the ladders and these other people are the snakes.

Well guess what - we've been playing chess the whole time!

JustAYoungLad

Standman wrote: »

I know what you mean, Lad.

Life is a game of snakes and ladders, and we're the ladders and these other people are the snakes.

Well guess what - we've been playing chess the whole time!

Its a dog-eat-dog world lad. And im the f*cking chinaman

Obvious Desperate Breakfasts

Standman wrote: »

Ah don't be too hard on Lad, he's just a young lad after all.

And he was very helpful with me and my bitcoin issues/wife's emotional state.

Meh. Part of growing up is learning to counter robust arguments. He’s giving it the big one. People are going to respond.

Standman

JustAYoungLad wrote: »

Its a dog-eat-dog world lad. And im the f*cking chinaman

Damn right - we're two dog-eating Chinese lads playing chess with a snakes and ladders board.

Shanotheslayer

What a toxic read the past few pages.

TheAnalyst_

JustAYoungLad wrote: »

Its a dog-eat-dog world lad. And im the f*cking chinaman

Cheers for the laugh earlier. This must be a spoof account.

Could you be any more of a crypto bro? You're hitting every single alt right, pepe, npc, 4chan, libterarian, anarcho capitalist nonsense. You're clearly a young lad who knows sweet **** all about the world.

PS. yes I'm a beta wage cuck.

JustAYoungLad

TheAnalyst_ wrote: »

Cheers for the laugh earlier. This must be a spoof account.

Could you be any more of a crypto bro? You're hitting every single alt right, pepe, npc, 4chan, libterarian, anarcho capitalist nonsense. You're clearly a young lad who knows sweet **** all about the world.

PS. yes I'm a beta wage cuck.

Mate its afterhours. Lighten up. But i really did make 19k off eth in 2017. And i didnt pay tax on it at all. Granted a latge charge went into my education but i see that as investment

TheAnalyst_

JustAYoungLad wrote: »

Mate its afterhours. Lighten up. But i really did make 19k off eth in 2017. And i didnt pay tax on it at all. Granted a latge charge went into my education but i see that as investment

You're meant to pay tax on it.

JustAYoungLad

TheAnalyst_ wrote: »

You're meant to pay tax on it.

Its almost as if i didnt want to..

xi5yvm0owc1s2b

JustAYoungLad wrote: »

Its almost as if i didnt want to..

Bragging about tax evasion on a public internet forum. That's clever.

valoren

JustAYoungLad wrote: »

TheAnalyst_ wrote: »

Cheers for the laugh earlier. This must be a spoof account.

Could you be any more of a crypto bro? You're hitting every single alt right, pepe, npc, 4chan, libterarian, anarcho capitalist nonsense. You're clearly a young lad who knows sweet **** all about the world.

PS. yes I'm a beta wage cuck.

Mate its afterhours. Lighten up. But i really did make 19k off eth in 2017. And i didnt pay tax on it at all. Granted a latge charge went into my education but i see that as investment

Oh they'll catch up with you, the Revenue. They'll get their 33% minus your €1270 relief.

[Deleted User]

RoboRat wrote: »

Crypto is already established and being used in many real world applications via decentralised platforms, blockchain, smart contracts etc. Some of the biggest companies in the world are using blockchain and crypto technology and it will be come more prevalent in the near future. If you think this its BS, think about the technological advances we have made in the last 20-30 years. 10 years ago cash was king, nowadays, I can't remember the last time I had cash in my wallet... I rarely carry it and use my card or phone. Many thought leaders in the 80's went on record to say the internet was just a fad, there was no practical use. The list goes on. The bottom line is that we are moving to a global community, we buy things from all over the world, in different currencies and currency is an obstacle as it stands.

As a ledger it may have some use but it's a basically open technology so it's all about adoption and implementation. The existing big players have a position of strength there.
Talking about money like that is a bit disingenuous IMO. It's not like cast arrived 10 years ago and is falling out of use. It was king 10 years ago, and 20 years ago, and 30 years ago etc. The sheer amount of power needed to track all the transaction to a ledger means it won't scale that way.

grindle

Deleted User wrote: »

The sheer amount of power needed to track all the transaction to a ledger means it won't scale that way.

The amount of power necessary to keep Bitcoin running is an unfortunate by-product of the Core dev's ideological slant - ignore it, it can and will be improved upon. Bitcoin is the base currency for crypto-trading but things can and will change over years and decades. It's the demo. Maybe it evolves, probably it doesn't (given that one company has it caught by the throat already).

For anybody who thinks crypto is a ponzi or a pyramid scheme: Please - I desperately implore you, do NOT buy any crypto. I mean that.
Stay away from it. You're happy where you are. People throwing money at "magic beans" for an over-inflated price they consider reasonable - with money they can afford to lose - are fine with those prices. You don't care to know what the ideology or thinking behind Bitcoin originally was - that's cool, you don't have to. You don't care what's opened up over the past few years and what will open up over the next few thanks to people realising how it's trust mechanism can be applied in different circumstances - that's cool, you don't have to.

If every government in the world offered to stop printing cash and putting their hands in eachother's pockets to hide debts, if they would conduit their transactions through an open-sourced and openly verifiable ledger, open to oversight from many eyes especially with regards to usage of government and corporate funds then I would happily use that blockchain and be okay with exhilarating gains and crushing losses not being a thing any more.
Does that sound like a pyramid scheme or a ponzi? Or does it sound like transparency that should be forced upon people repeatedly proven to be amoral scumbags?

Also, could somebody make a cheap clone of Blockfolio so I can see the amount of USC gains made from me based on the gambling other retards decided to take part in? Or do I get to wipe the slate clean on my crypto losses when it goes to zero and the government introduces the Universal Cryptard Charge? No? Nobody?
Ah well, worth a try.

Captial allowances for plant & machinary and certain buildings are allowed as a deduction before USC is calculated.

https://www.revenue.ie/en/jobs-and-pensions/usc/what-is-usc.aspx

Jesus ballsucking Christ, this is where our funds are being pushed?

Mr. Everyman wrote:

Herp derp, they be do good job 2 b suir 2 b suir

Pintman Paddy Losty

The downward spiral continues. Down the toilet.

grindle

Pintman Paddy Losty wrote: »

The downward spiral continues. Down the toilet.

I'll suck that **** straight down the gullet., ta for the head's up.

[Deleted User]

My brother is now down around 10k in the last few months and some of his friends are down hundreds of thousands.

Ironically, I know more about it than any of them. It says something about an asset when casual observers are more knowledgeable than the people investing in it.

Bitcoin fanboys really need to understand that in the rankings of financial acumen, it goes from /r/investing to /r/wallstreetbets and then /r/bitcoin at the bottom.

Franz Von Peppercorn

grindle wrote: »

The amount of power necessary to keep Bitcoin running is an unfortunate by-product of the Core dev's ideological slant - ignore it, it can and will be improved upon. Bitcoin is the base currency for crypto-trading but things can and will change over years and decades. It's the demo. Maybe it evolves, probably it doesn't (given that one company has it caught by the throat already).

For anybody who thinks crypto is a ponzi or a pyramid scheme: Please - I desperately implore you, do NOT buy any crypto. I mean that.
Stay away from it. You're happy where you are. People throwing money at "magic beans" for an over-inflated price they consider reasonable - with money they can afford to lose - are fine with those prices. You don't care to know what the ideology or thinking behind Bitcoin originally was - that's cool, you don't have to. You don't care what's opened up over the past few years and what will open up over the next few thanks to people realising how it's trust mechanism can be applied in different circumstances - that's cool, you don't have to.

If every government in the world offered to stop printing cash and putting their hands in eachother's pockets to hide debts, if they would conduit their transactions through an open-sourced and openly verifiable ledger, open to oversight from many eyes especially with regards to usage of government and corporate funds then I would happily use that blockchain and be okay with exhilarating gains and crushing losses not being a thing any more.
Does that sound like a pyramid scheme or a ponzi? Or does it sound like transparency that should be forced upon people repeatedly proven to be amoral scumbags?

Also, could somebody make a cheap clone of Blockfolio so I can see the amount of USC gains made from me based on the gambling other retards decided to take part in? Or do I get to wipe the slate clean on my crypto losses when it goes to zero and the government introduces the Universal Cryptard Charge? No? Nobody?
Ah well, worth a try.

https://www.revenue.ie/en/jobs-and-pensions/usc/what-is-usc.aspx

Jesus ballsucking Christ, this is where our funds are being pushed?

Well that’s an interesting take on things. ** cough **

Franz Von Peppercorn

Why do all the bitcoin heads buy fiat cars when they cash out?