probably nothing
- Thread starter Quincy A. Wagstaff
- Start date
TLDR version
Millennial mayor of Dallas's dingleberry tries to look cool at next Aggie buttplugger meeting by "mining" Bitcoin on the smallest rigs ever created. After spending $2400 on Amazon for the 3 tiny rigs and $50k of taxpayer money for bureaucratic paperwork.. The stupid 17ing machines are actually going to lose money because they can't cover the cost of electricity.
https://www.asicminervalue.com/miners/bitmain/antminer-s9-14th
View attachment 24353
Bwaaahhhaaa. Can't make it up. She should have bought I bonds.
Millennial mayor of Dallas's dingleberry tries to look cool at next Aggie buttplugger meeting by "mining" Bitcoin on the smallest rigs ever created. After spending $2400 on Amazon for the 3 tiny rigs and $50k of taxpayer money for bureaucratic paperwork.. The stupid 17ing machines are actually going to lose money because they can't cover the cost of electricity.
https://www.asicminervalue.com/miners/bitmain/antminer-s9-14th
View attachment 24353
Bwaaahhhaaa. Can't make it up. She should have bought I bonds.
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Fidelity will allow you to invest in far riskier funds than Bitcoin, like maybe a Bible making company in Russia or a little girls orphanage in China. Doesn't mean it's a good investment but it's your money and choice
I bought a couple thousand of this Australian Propane company that had already started building a facility in Lake Charles. It was all the rage in 2015.
They had developed a method to refine propane 20% cheaper or some crap. Funny thing on the way to the bank, they never secured any contracts to actually sell propane to anyone. All these permits to build it, millions spent on site and then just shut it down and stock go worthless. Hell, they had 5 sites, including Nova Scotia anywhoo, l lost every penny. I guess Bitcoin can't do worse.
They had developed a method to refine propane 20% cheaper or some crap. Funny thing on the way to the bank, they never secured any contracts to actually sell propane to anyone. All these permits to build it, millions spent on site and then just shut it down and stock go worthless. Hell, they had 5 sites, including Nova Scotia anywhoo, l lost every penny. I guess Bitcoin can't do worse.
I think bitcoin is a lot like crossfit. You can't do it without talking about it. There's some inherent need to tell people, but I don't understand it at all. I guess I should start publishing my portfolio here and see if I can get all of SPS to agree that I'm brilliant in my investing?
Hell yes- just take something that you regret investing in and push it in all manners possible to see if someone else will buy into the hype and will take it off your hands. And when people say 'thats dumb to invest in', just respond with 'you dont understand what is happening. FOMO!' and watch the interest rise.
The aggressive promotion of it is what gets me
Assuming a world of transparency, valuable assets typically don't need an aggressive sales pitch. Overly complex schemes and scams typically do. If you have put a great deal of effort into explaining why we need something and why it will last, we typically don't need it. The idea of decentralized private currency is a cool, but naïve, theory. It can exist in the in the short term as a disruption. Assets tend to become centralized and controlled over time. And if not the assets then the mechanisms to facilitate the trade will eventually become centrally managed and a transaction fee tacked on top. Crypto is new. Human nature is not. It's a romantic idea - decentralized freedom. History tends to crap on it.
That said, in the meantime, I hope our resident crypto bros strike it rich. First movers in successful market shakeups typically do. Congrats on the return from the risk. We need a well funded NIL program and are overdue on chairbacking DWS.
Assuming a world of transparency, valuable assets typically don't need an aggressive sales pitch. Overly complex schemes and scams typically do. If you have put a great deal of effort into explaining why we need something and why it will last, we typically don't need it. The idea of decentralized private currency is a cool, but naïve, theory. It can exist in the in the short term as a disruption. Assets tend to become centralized and controlled over time. And if not the assets then the mechanisms to facilitate the trade will eventually become centrally managed and a transaction fee tacked on top. Crypto is new. Human nature is not. It's a romantic idea - decentralized freedom. History tends to crap on it.
That said, in the meantime, I hope our resident crypto bros strike it rich. First movers in successful market shakeups typically do. Congrats on the return from the risk. We need a well funded NIL program and are overdue on chairbacking DWS.
100% agree on it all. I hope Quigley gets the stadium named after him, but I'm not gonna be following in his footsteps.
I even read a book on crypto back in 2015, TRYING to understand it. I invested in the blockchain and made a little money there, because that's all I could really 'get' about it all.
This stuff is just 'viral' things pushed by a large amount of people on the internet. Just the nature of things going forward. FOMO is only beginning.
Hey hey hey, leave PBR out of this. I was drinking PBR in late 1970's because nobody ever wanted to bum one off me, and I will still buy it several times a year. I was at a conference in Charleston a few years ago and went out w/ a bunch of colleagues and starting at 10:00 that night the bar we were in had $1 PBR tall boys for the rest of the night. It was a bad morning the next day...............
In full defense of Wagstaff. I have taken an absolute bloodbath in equities this year. I want to sell everything and go cry myself to sleep if I am being honest. It's a pretty good sign for BTC that it has held on to these levels during the selloffs of high growth tech.
That's a lot more bullish to me than some 38 year old mayor buying 3-$750 crypto mining machines to run a small loss out of city hall. That's just stupid. I don't get excited when some 3rd world banana republic loads up on BTC either. But the longer it holds on to these levels, the more it looks like a real solid base is being formed.
That's a lot more bullish to me than some 38 year old mayor buying 3-$750 crypto mining machines to run a small loss out of city hall. That's just stupid. I don't get excited when some 3rd world banana republic loads up on BTC either. But the longer it holds on to these levels, the more it looks like a real solid base is being formed.
Right. I've made some solid returns on a few COVID plays and overall portfolio has been solid, but I'm not pimping any investment I made on here. Investing should be rooted in A) Purpose of the funds and B) Risk tolerance of the investor. i.e. it is personal. There is no single recommendation that anyone should be making without that information. That's probably why it bugs me a little on good days and a lot on bad ones.
My Grandma pretty much raised me till my early teens and I ran things by her for a long time after She said when it comes to money "schemes" that you can't understand leave your money in the bank and if it sounded to good to be true... it most likely was ********. She did not have a lot to invest but she told me to keep my money in utilities. They weren't flashy like stocks but she said people always need electricity and railroads.
Wish I had listened more.
Is mining Bitcoin at a loss a new tech concept that needs to be proven out? My buddy Will proved that concept 4 years ago and got booted out of his house for a few months after his wife found out how much money he wasted.
I have no idea what you are talking about. H/S appears to be something about hashrate. Not predicting anything.
Just pointing out the machines that are being used by the astute mayor of Ft Worth burn more in electricity than they can mine according to the linked website.
That's like running a generator at the house that burns $15 a day in gas so you can save $10 a day in electricity. The mathematics are poor.
You Bitcoin bros are sensitive as 17.
Just pointing out the machines that are being used by the astute mayor of Ft Worth burn more in electricity than they can mine according to the linked website.
That's like running a generator at the house that burns $15 a day in gas so you can save $10 a day in electricity. The mathematics are poor.
You Bitcoin bros are sensitive as 17.
Kind of like saying if you have to tell everyone you are the man then you ain't the man.
Also, it doesn't take a rocket scientist to realize if we moved away from the $ as the predominant world currency we'd all be in a world of crap. Unwinding the Monopoly money approach would throw the whole world into a tailspin!
You predicted a head and shoulders crash was imminent. And A-Gain the machines were donated if you read the article to test proof of concept.
I absolutely agree with you. Being in the industry for 21 years and working with clients daily. The general post of so called “market guru’s” on this board drive me insane. To issue market commentary and have so many read as gospel is dangerous. Their predictions have been less than 50% easily, while writing thesis. I don’t doubt their knowledge and expertise; however, their investment research post can do more harm than good to individual investors. As I tell my clients, if you can’t explain what your investing in, don’t invest. I’ve not had one person intelligently define crypto and block chain investment, including IT nerds, without stumbling over themselves and giving up within 20 seconds. .
You need Someone to explain crypto and a blockchain ledger to you? Maybe it’s not the nerds?
Did I "predict" a head and shoulders and crash or did I say it was setting up and once completed had a downside "target" 70% below the neckline which is the same distance from the neckline and the top of the head. I seem to recall saying that it wasn't dip buying time in such a downtrend. But I also would never short it.
The head and shoulders absolutely happened. It also did not hit the target. It found support at a trendline which back in late January was around $32k. The target would have been $18k. If it got down to those levels I would have bought with both hands. It did not and I did not.
(Weekly BTC chart. Blue lines = shoulders and head, Red line = neckline, Green line = support/trend)
View attachment 24362
I am neutral BTC right now, as I have been since selling last fall in the low 60's. I have made a few trades in ETH and a shitcoin someone had me start watching, but have been all cash in my crypto account since February 7th.
When/if BTC breaks out above it's 200 day SMA and or the current channel I will get long again. I also realize it could just as easily break the bottom of the channel and continue downward.
As I mentioned earlier in the thread, it's a very good sign that it is no longer crashing harder than tech stocks IMO. I'm not negative Bitcoin, I am just negative BS propaganda about it. My thesis is nothing matters except for the opinion of the few thousand whales that control 80+% of the supply. If they want to liquidate, it's the express elevator to the bottom floor. If they want to hold, then the prices will rise. If they slowly want to diversify into other assets, we get the choppy prices we are currently in. Ft Worth and El Salvador can't move the needle and are just noise. The Fed and whatever regulatory crap is coming is the music we should all listen too.
The head and shoulders absolutely happened. It also did not hit the target. It found support at a trendline which back in late January was around $32k. The target would have been $18k. If it got down to those levels I would have bought with both hands. It did not and I did not.
(Weekly BTC chart. Blue lines = shoulders and head, Red line = neckline, Green line = support/trend)
View attachment 24362
I am neutral BTC right now, as I have been since selling last fall in the low 60's. I have made a few trades in ETH and a shitcoin someone had me start watching, but have been all cash in my crypto account since February 7th.
When/if BTC breaks out above it's 200 day SMA and or the current channel I will get long again. I also realize it could just as easily break the bottom of the channel and continue downward.
As I mentioned earlier in the thread, it's a very good sign that it is no longer crashing harder than tech stocks IMO. I'm not negative Bitcoin, I am just negative BS propaganda about it. My thesis is nothing matters except for the opinion of the few thousand whales that control 80+% of the supply. If they want to liquidate, it's the express elevator to the bottom floor. If they want to hold, then the prices will rise. If they slowly want to diversify into other assets, we get the choppy prices we are currently in. Ft Worth and El Salvador can't move the needle and are just noise. The Fed and whatever regulatory crap is coming is the music we should all listen too.
I'm a newbie to the board but that's some cool lingo and knowledge! My MSU Finance degree didn't get me close to this expertise. Pretty 17'n cool brother!!!
Crypto
No. I need a message board crypto specialist explain how an investment with no assets, no product, no revenue, who’s primary use is illicit activity. Crypto is nothing more than rampant confusion and record dollars stolen by hackers. 650 million has been stolen just this past weekend. Please tell me how I can buy real estate in the meta verse next. 17’ing idiots
No. I need a message board crypto specialist explain how an investment with no assets, no product, no revenue, who’s primary use is illicit activity. Crypto is nothing more than rampant confusion and record dollars stolen by hackers. 650 million has been stolen just this past weekend. Please tell me how I can buy real estate in the meta verse next. 17’ing idiots
You'll learn I'm 99% full of **** and when the 1% hits I come back around here like a banty rooster that just got into the farmer's Cialis stash.
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