Topic: The Crypto Noob Moron thread (Read 288 times)

Envy.

In terms of r/K, if you follow that idea, the guy is an r. Hate and envy are their primary motivators, and they tend to live in the moment rather than plan for the future.

You have much reading to do, young padowan.

I am going to say a heresy here: Bitcoin is much more of a ponzi than any other of the new alts. Bitcoin is just a store of value based on the fact that we accept it as such, like fiat. Many alts do actually have a project to back their value.

Funny thing is I know someone who bought $20K worth of XRP when it was 20 cents, a few weeks later its up 1500%.
$20K for an xrp is idiotic, that would make it more valuable than all the worlds currencies combined I think.

It is, isn't it? I am a newcomer myself (just over a year, so definitely new) and remember that it took a lot of "courage" to fully settle into Bitcoin. Sure, I dabbled in alts, but only because people weren't willing or able to pay me in Bitcoin. That some of those alts have really become significant in price are not relevant.

The ones who've been asking me now about crypto are also asking about alts. And not the staple of Ethereum, but Ripple, Neo, etc. I guess the mainstream coverage and paid promotions really are reaching the intended audiences!


They'll take anything that pays them - and I'm actually certain they did their due diligence and have concept of Bitcoin mining. They probably actually think it's a great idea. I won't be surprised if some ponzi crypto makes an ad next. Bitconnect maybe. I'll never forget how Onecoin was featured on the cover of (local) Forbes...

Apparently a commercial just ran on Bloomberg TV for this - https://sun-mining.com/en

Cloud mining advertising on TV? Fuck me, things are getting bonkers. I wonder if there've been any mainstream articles about how wretched cloud mining's track record is.

Is there an error with OP post? I do not see any link, even when quoting. But anyway, I actually have a very fresh story I would like to tell you. Now, in my entire short crypto life, I have never asked anyone of my contacts or family or friends to join crypto. A few friends know about it, but only because they asked before and I just said yes I bought a little bit. Nothing more.

But a few days ago, one of these guys sends me a message saying "You must be so rich now, with all your Bitcoin. Feel good about yourself?" Well, like that but with worse spelling. I just replied saying I only have a small amount, not even 1 full Bitcoin and then he replies "what a liar, enjoy your life".

I have no idea why the hate.

Yes thing have become insane. I expect that to turn around pretty soon and many people losing all their money.
When this happens I'm not sure in how far Bitcoin will see a hit, but imo it will. It's just a question of how strong.Hopefully not too much.
Too many people right now are in this space who have no clue about anything in terms of the reasons why Bitcoin got created.
It's all about making some quick bucks.
Long term thinking does not exist. The bloodbath will be huge.

it's funny how many of those who are new to bitcoin are starting to invest in altcoins!

there is this forum where i used to visit rather regularly (in my language) and mostly talk in this topic there about bitcoin. answering other people questions about what it is, how wallets work, how blockchain.info is not bitcoin (LOL), ... and whenever i told someone that price will be a lot more than this ($200, $400, even $1200) they said it is a bubble and we are already too late.

now when i visit that forum and look at that topic, it is nearly as big as Wall Observer topic in this board and everyone is talking about some random shitcoin they have found which is going to make them rich...

I have a brother who keeps asking me to buy crypto. Not any particular cryptos that he knows anything about at all - strictly whatever crypto has risen 1000% in the past week and is at its peak. He wanted to buy bitcoin at $20,000, then litecoin at $350, then bitcoin cash at $5000, then ripple at $3. I had to keep saying no. I asked what he would do if they dropped and he said he would hold no matter what. Then when bitcoin dropped to $11,000, I urgently told him that THIS was the time to buy. But he wouldn't buy then. I asked him 'if you were going to buy at 20,000 and hold no matter what, then why not twice as many coins for 10,000?'. He said he was too scared of all the news (the FUD). I now use this brother as a reverse indicator for whatever to do with my trades.

Someone at my office said 'no bitcoin wasnt a good buy at $5 but now that's its risen to $20,000, this is definitely the time to buy". I asked him what changed his mind. He says "because it's risen to $20,000" and "i dont know i just have this feeling now. this is it". I asked him why it wasnt a good buy at $5 - "well nobody knew about it then and it wasnt in the news" ... ... 20 other people in my office were buying at $20,000 also, but I never heard a damn thing about bitcoin in there any time before then, and this was a tech company.

What really gets my blood boiliong though is when someone thinks bitcoin is a company and talks about how many shares they own and who the CEO is and thinks the government can shut it down.

That´s quite usual in mother-in-law.. they can´t admit you are right even if you are an expert before her neighbour John Silly tell her that is good.

comfortably mining and hodling since 2012  I have less than 0.10% of my stash invested in alts I think likely to flourish going long.


You Sir at least gave her some advice on how to invest some of her portfolio into crytpo? Smart financial advisors should have and probably are now telling clients this everywhere. The train is still just leaving the station...thats the (scary=fun) part imo.

However......morons...yah. Darwinism is often ugly magnificence.

That's actually smart. Bitcoin doesn't have anywhere left to go except maybe another 10 or 100x increase in value. Maybe he wants to be in on the next 1,000,000x increase. They're happening every month.

I got a call last spring from an old acquaintance I hadn't seen for almost 10 years and I told him about my involvement in Bitcoin, which he hadn't heard of.

Last week he called me up to ask for help to buy "Bitcoin" Cash and "Bitcoin" Gold. I tried to explain that he shouldn't be deceived by the names and that neither one was really Bitcoin.

His response was that Bitcoin costs too much and he couldn't afford it. I then tried to explain that each bitcoin could be split into 100 million satoshis.

His response to that was that Bitcoin had already increased in value and he wanted to be in on the ground floor of the next big cryptocurrency.

Sigh.

My mother-in-law contacted me after seeing an ad about crypto in her Gmail inbox saying to buy any and all crypto for the sake of crypto. Now she wants to invest everything she has. I said a very stern "NO"! I will will not be part of a self defeating dumb idea like that. This is a woman who has known for 7 years that I have been involved in this, but only now decides to get in.

The guys who were two months ago saying that bitcoin is a "bubble" or a "ponzi scheme" are the same ones who are now aiming for 1000% gains with ripple, lumen, tron and raiblocks.

Morons are more than welcome here too, but I think if you're signed up and posting on here you're rather further ahead of the game than someone boasting on Twitter about their suicidal moves.

By all parameters we are kind of i a bubble. People that don´t know talk about it, the press is headlining continuously about it, lots of stupid money coming in...

BUT, and that is why I am still in crypto, those are also the symptoms of a new economic model that is ready for adoption.

Gems like the one in OP post are making me appreciate the common thought among uninformed people that Bitcoin is a bubble, a ponzi, a scam, etc. Sure, they are wrong, but it's good that people have some skepticism, and it's good that they are suspicious of quick gains. If everyone would just throw their money into random stuff like it happens with altcoins, our economy wouldn't be able to function due to massive cases of malinvestments. So, I think we shouldn't react too harsh when someone calls Bitcoin a bubble and present some technical arguments instead of calling them stupid.
 
And as for hyper-optimistic crypto noobs, we can try to talk some sense into them, but they are often very arrogant and brainwashed to listen to technical arguments that their precious shitcoin are centralized/vaporwave/scams, so they will have to learn a painful lesson when altcoin market will crash and burn.

P.S. I wonder how many people will get screwed because they've bought Ripple after watching CNBC - https://twitter.com/APompliano/status/950059747771854853

Front row seat please.





*edit*   I thought you were ASKING for CNM's...nvm.


On  a side note...Being a Mill Wright for 30+ years I stumbled across this guy a few years ago on YT. Uncle Bumblefuck is about as clueless as your tweeter(this a word?). 

Sad how many people are going to get yoinked over that.  Over 685k subs...SMH.

https://www.youtube.com/watch?v=oyPkWd3C-0Y

I would like your fine selves to share with us examples of the brain injured and under informed getting involved in crypto. This is an important indicator of how bubbly things are going forward, or just a chance to sneer. This gem on twitter moved me in particular.