Thread: Is Bitcoin an imploding ponzi??...

Bitcoin price news LIVE - New DubaiCoin rises 1,000% in just 24hrs defying cryptocurrency market slump and Ethereum fall

And it's gone.

Fake DubaiCoin Cryptocurrency Tanks After Government Denies Official Approval - UNILAD

Has anyone in history been quoted so much while saying so little?

Originally Posted by Mike Murphy

“Bitcoin crashing. Great news,” tweeted “Rich Dad, Poor Dad” author Robert Kiyosaki on Sunday, saying it provides a good buying opportunity. “When price hits $27,000 I may start buying again. Lot will depend upon global-macro environment. Remember the problem is not gold, silver, or Bitcoin. Problem are the incompetents in government, Fed & Wall Street. Remember gold was $300 in 2000.”

In April, Kiyosaki predicted in an interview that bitcoin’s price would top $1 million in the next five years. Still, he said he prefers gold and silver as an investment, calling it “God’s money.”

Bitcoin is headed toward its worst month since 2011; ‘Rich Dad, Poor Dad’ author says that’s ‘great news’ - MarketWatch

Why buy Bitcoin on a maybe at $27k if it's going to hit $1M in five years??? Why buy BTC at all if Kiyosaki prefers gold and silver as an investment? I remember years back when people went hunting for Rich Dad, and then they went looking for Kiyosakis real estate, the only thing I think anyone ever found was his apparent failure in Amway. And by failure I mean as a distributor not a book peddler.

Originally Posted by Lazy Man

Bill Galvin, found Kiyosaki's book, Rich Dad, Poor Dad, at a car wash before it was published. In fact, Kiyosaki had trouble getting published. ... In addition to the above, Kiyosaki joined Amway under Bill Gavin, but it appears he was a failure at it.

Robert Kiyosaki and Multi-Level Marketing Exposed! - Lazy Man and Money

Robert Kiyosaki - Rich Dad Secrets

Author of Rich Dad, Poor Dad files for bankruptcy

Stupid A$$ Theories of Robert Kiyosaki

Speculation based on news, tweets, or a deal you were pitched on Facebook isn't investing. More like a game of musical chairs at your friend's birthday party, only not a party not your friends and your wallet gets pulled when the music stops.

Originally Posted by Mike Murphy

“Millions of retail investors were really counting on their crypto gains to improve their lives,” a Guy Fawkes-masked figure said in the video. “Of course, they took the risk upon themselves when they invested, and everyone knows to be prepared for volatility in crypto, but your tweets this week show a clear disregard for the average working person.”

Elon Musk’s crypto tweets have ‘destroyed lives,’ says video purportedly from Anonymous - MarketWatch

How sensible is it to put yourself in a heads they win, tails you lose but they still win investing situation?

Maybe Saylor walks away from his BTC purchases looking like a genius, maybe he slinks away a fool. According to Just a moment... he owns 23.7% of MSTR shares which aint nothing. If he's so pot committed to BTC I ask myself why not pledge his shares and take a loan to buy BTC for his own account? Too much money chasing Senior Secured Sorta Kinda Secured-ish Debt may prove a viable answer.

Originally Posted by Jamie Powell

MicroStrategy, a $4.6bn bitcoin asset gatherer masquerading as a tech company, is doing what every gambler is warned against doing: doubling down. After chief executive and large boat enthusiast Michael Saylor spent the weekend at the bitcoin conference in Miami not being a bro, the company announced Monday that it was, you guessed it, raising $400m of senior secured debt to add to its stash of 92,079 bitcoins. The debt will be secured against MicroStrategy’s assets, excluding its current bitcoins and digital assets, which have been parked in a vehicle named MacroStrategy LLC (somewhat ironically, given the seeming lack of macro strategy, or of any strategy at all).
https://finance.yahoo.com/m/4a6e0cb3...les-down.html]

Originally Posted by STEPHEN GUILFOYLE

I do know this. If I wanted to invest in Bitcoin, I would buy Bitcoin. If I wanted to invest in software stocks, I would find one or two with growing sales and invest in them. I would not invest in MicroStrategy with my money and I could not recommend that you do so with yours. I Have Rarely Wanted to Buy a Stock Any Less Than MicroStrategy - RealMoney

Originally Posted by Lawrence Lewitinn March 3, 2021

Back of the envelope

Yet, it should be noted that while MicroStrategy bought bitcoin at $24,063, which now looks like a bargain, it’s a different story for anyone buying MSTR stock now.

The company’s market cap is now about $7.2 billion. As of March 2, $4.4 billion of its assets were in bitcoin. Around the time it first announced its bitcoin buys, MicroStrategy’s market cap was just $1.3 billion. To buy all that bitcoin it now owns, the company at first used some cash, somewhere to the tune of around $425 million. In recent months, it has issued a total of $1.7 billion in convertible notes that, if turned to equity, could add a couple million shares to the nearly 10 million already outstanding (that’s another discussion).

How to Buy Bitcoin at an 80% Premium From Michael Saylor - CoinDesk

I wonder who they might have been selling to?

Wealth manager Ruffer exited $1.1 bitcoin bet amid worries over risk

Cryptocurrency trading is stopping people from looking for full-time jobs: CareerBuilder CEO

Followers of RealScam missed out on all this fun...

Originally Posted by Alexander Osipovich

Consumers reported losing nearly $82 million to crypto scams during the fourth quarter of 2020 and first quarter of 2021, more than 10 times the amount from the same six-month period a year earlier, according to the Federal Trade Commission.

Crypto Frauds Target Investors Hoping to Cash In on Bitcoin Boom - WSJ

Who could have seen the vanishing act coming? It's not as if these days you can just parrot meaningless tripe and people will willingly cough up millions.

Originally Posted by by NewsBTC

LUB token, a new cryptocurrency that is currently shaking up the market

The LUB token is the first cryptocurrency that can be traded directly on the increasingly popular Telegram messenger service. LUB is conquering this 500,000-million-member marketplace, making it a pioneer in an industry already full of innovation.

LUB is an ERC-20 token that is generated via the well-known and secure Ethereum blockchain

LUB - First Crypto Exchange Inside Telegram

A kindred spirit.

Originally Posted by Vitaliy Katsenelson

If you’d like to invest, you have to accept that it’s not a get-rich-fast but a get-rich-slow activity. Once she heard “slow,” I think she lost interest in whatever advice I had to offer.

Opinion | Investing in Cryptocurrency Is No Better Than Gambling | Barron's

If you give a bunch of money to a bunch of kids a bunch of times...

Originally Posted by Cheyenne Ligon

However, shortly after the so-called hack, Africrypt’s founders – 20-year-old Ameer Cajee and 17-year-old Raees Cajee – allegedly transferred the pooled investor funds from an account at Johannesburg-based First National Bank (FNB) and disappeared to the U.K. Founders of South African Crypto Investment Firm – and $3.6B in Bitcoin – Are Missing - CoinDesk

However, the government’s ability to investigate the matter is constrained by the lack of regulatory framework on digital assets in South Africa, which does not consider cryptocurrencies a financial product.

Less sweaty than robbing stagecoaches this new paradigm in money.

Originally Posted by Black Bart

Here I lay me down to sleep
To wait the coming morrow,
Perhaps success, perhaps defeat,
And everlasting sorrow.
Let come what will, I'll try it on,
My condition can't be worse;
And if there's money in that box
'Tis munny in my purse.
Black Bart (outlaw) - Wikipedia