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re: Dave Ramsey: Will the stock market crash under Joe Biden?
Posted on 4/14/21 at 3:52 pm to wutangfinancial
Posted on 4/14/21 at 3:52 pm to wutangfinancial
they'd liquidate most fiats and then adopt bitcoin and dollars. why would you liquidate a money (bitcoin) that can't be debased?
this is already happening in argentina. venezuela. turkey btw
this is already happening in argentina. venezuela. turkey btw
2
Posted on 4/14/21 at 3:53 pm to rocket31
quote:
mean. the math is currently onn my side and most discussions are settled through mathematics so..
The sharpe ratio is on your side, but that measures more than just risk. I’d be interested in your argument of BTC being low risk on an absolute scale.
Posted on 4/14/21 at 3:54 pm to rocket31
quote:
imagine bragging about 16%
If you could do that consistently every year with paper investments you'd be doing great
Posted on 4/14/21 at 3:56 pm to slackster
quote:
I’d be interested in your argument of BTC being low risk on an absolute scale.
in my eyes holding fiat when we know that they are going to continually print more is riskier (ubi, etc)
I think the dollar is mostly going to be fine but considering bitcoin is a global monetary system the upside for adoption is incredibly high
it's the first open economic system in existence btw. the potential of that can not be understated imo
This post was edited on 4/14/21 at 3:57 pm
Posted on 4/14/21 at 4:02 pm to rocket31
quote:
this is already happening in argentina. venezuela. turkey btw
All countries you'd expect that activity in. So do you know who these people are? Are they rich enough to buy BTC but aren't rich enough to get out of the country and buy American assets?
Posted on 4/14/21 at 4:27 pm to wutangfinancial
all i have twitter anecdotes but yes, there are individuals who have put bitcoin on a wallet or memorized their private key, hopped on a plane and then left their country, i suppose they could be lying but it doesnt seem likely
bitcoin is seizure-resistant so its unique in this regard.
here is one kids story LINK
bitcoin is seizure-resistant so its unique in this regard.
here is one kids story LINK
This post was edited on 4/14/21 at 4:28 pm
Posted on 4/14/21 at 4:30 pm to rocket31
quote:
think the dollar is mostly going to be fine but considering bitcoin is a global monetary system the upside for adoption is incredibly high
How high? Total current M3 in the world is like $90T.
Posted on 4/14/21 at 4:33 pm to slackster
quote:
How high? current M3 in the world is like $90T.
dude, ive said repeatedly now that its really hard to determine how much money will be injected into the system. sociologically speaking, id say that its not going to stop anytime soon. i think canada is getting ready to approve an UBI etc
This post was edited on 4/14/21 at 4:34 pm
Posted on 4/14/21 at 5:09 pm to rocket31
quote:
I mean. the math is currently onn my side and most discussions are settled through mathematics so..
:facepalm: You still don't get it. It is a risk. You are making money now and may continue to make money, but it is not a guarantee. I have some money in bitcoin, but I also understand it is not without risks. How are you so obtuse with this concept?
Posted on 4/15/21 at 7:34 am to rocket31
quote:
people put their retirement into fiat-based 401ks backed by 100s of overvalued companies that they do not even know the names and locations of, let alone the PnLs but i hold the hardest money in the world, that has a global monetary network that can not be manipulated by yellen or labarde or sleepy joe im not the one taking risk here, its you, and youll see it eventually. gl
23 years of investing in my 401K, and now I find out I’ve been doing it wrong all along. Well this sucks.
I looked at BTC when it was $8 a coin and said no, and that $8K investment would today be worth $65M. So as you can see, I don’t make good decisions.
Posted on 4/15/21 at 8:05 am to Grinder
ha yeah, most people don't even know the pnl of apple but they'll go all in without hesitation.
it never really made sense to me that we throw currency at risk-on equities for our savings managed by some clown weve never met?
anyway..I think you can go with a self directed ira and convert some to bitcoin if you're genuinely interested and want to hedge.
lyn Alden has great articles, probably the least biased approach to bitcoin in the space.
preston pysh
michael saylor for podcasts
it never really made sense to me that we throw currency at risk-on equities for our savings managed by some clown weve never met?
anyway..I think you can go with a self directed ira and convert some to bitcoin if you're genuinely interested and want to hedge.
lyn Alden has great articles, probably the least biased approach to bitcoin in the space.
preston pysh
michael saylor for podcasts
Posted on 4/15/21 at 9:40 am to rocket31
quote:
why would you liquidate a money (bitcoin) that can't be debased?
You're going to have to explain yourself here. You can debase BTC unlike any other real currency.
Posted on 4/15/21 at 9:42 am to Grinder
quote:I try not to think about it
I looked at BTC when it was $8 a coin and said no, and that $8K investment would today be worth $65M. So as you can see, I don’t make good decisions.
Posted on 4/15/21 at 10:37 am to rocket31
So maybe I should start a different thread on it but what our resident POCs’ (people of cryptocurrency) thoughts on the future of BTC and it’s energy consumption.
I know the regular monetary system used asstons of energy. I don’t care about that. But it seems like a low hanging fruit for governments to attack it in the new era of focus on climate issues. (Note: I’mnot saying government action will kill/eliminate BTC etc, but rather asking if there are solutions in the works to limit the overall energy consumption from mining).
I know the regular monetary system used asstons of energy. I don’t care about that. But it seems like a low hanging fruit for governments to attack it in the new era of focus on climate issues. (Note: I’mnot saying government action will kill/eliminate BTC etc, but rather asking if there are solutions in the works to limit the overall energy consumption from mining).
Posted on 4/15/21 at 10:47 am to JohnnyKilroy
You mean drive up it’s value because of more scarcity? Sure why not
Posted on 4/15/21 at 11:04 am to wutangfinancial
quote:
You can debase BTC unlike any other real currency.
naa there is a finite supply of 21 million until 2140. there will never be more than this
~900 coins get mined per day. it's the only closed asset we have
govt can print more dollars. more gold can be mined. some ceo can dilute share price
Posted on 4/15/21 at 11:11 am to JohnnyKilroy
quote:
but rather asking if there are solutions in the works to limit the overall energy consumption from mining
bitcoin mining moves more and more to renewable energy every year, which makes sense right? youd want to spend less on mining and reuse that energy over and over to earn bitcoin
above all this is a grid issue anyways. if the grid is green then the energy consumption will also be green
bitcoin mining will strengthen the future of green energy because there is actually a monetary incentive to secure more efficient energy resources, which has yet to exist
on the alternative side, if the governments get mislead by the "bitcoin energy consumption" propaganda and ban PoWs coins, then bitcoin will just fork into a Pos protocol..
ideally, this will never happen, as PoW was created to avoid the legacy financial system in the first place
This post was edited on 4/15/21 at 11:15 am
Posted on 4/15/21 at 11:12 am to wutangfinancial
quote:How? There are 21MM coins. If you have a pizza, whether you slice it 10 times or 100000 times, you still have 1 whole pizza.
You can debase BTC unlike any other real currency.
Posted on 4/15/21 at 11:15 am to TigerTatorTots
i feel like wutang is like one of those people who hates bitcoin at first and then once he learns all about it, ends up loving it
michael saylor admitted this today on twitter
michael saylor admitted this today on twitter
Posted on 4/15/21 at 11:16 am to rocket31
I can use any fraction I want as a means of exchange. That means there's an infinite supply of BTC. What am I missing?
The other side of this if in theory you can't debase it: that means only the ultra wealthy will have access to it and thus would be useless as a medium of exchange.
The other side of this if in theory you can't debase it: that means only the ultra wealthy will have access to it and thus would be useless as a medium of exchange.
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