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re: Dave Ramsey: Will the stock market crash under Joe Biden?
Posted on 4/13/21 at 8:12 pm to rocket31
Posted on 4/13/21 at 8:12 pm to rocket31
quote:
or as alternative explanation, someone who is not brainwashed by fiat currency or guys like dave ramsey who have been misleading them for their entire lives.
enjoy your 16% bull market. I'll be elsewhere getting "lucky"
Rocket has been making money for a decade or so but he’s convinced this is how it always works.
Sounds like a Nasdaq investor in the 90s.
Mind you, this is the same guy that would have sucked dick for a 16% return in 2014 or 2018 in crypto.
4
Posted on 4/13/21 at 8:18 pm to slackster
comparing nasdaq to bitcoin?
ngmi
ngmi
Posted on 4/13/21 at 8:20 pm to rocket31
How many millions rocket?
Posted on 4/13/21 at 8:25 pm to slackster
quote:
Mind you, this is the same guy that would have sucked dick for a 16% return in 2014 or 2018 in crypto.
Wat. This is the lamest “gotcha” I’ve read so far. It doesn’t even make sense
Posted on 4/13/21 at 8:28 pm to 13SaintTiger
quote:
Wat. This is the lamest “gotcha” I’ve read so far. It doesn’t even make sense
Rocket said making 16% in a year sucks.
I can only imagine what he thinks about losing 50%+. It’s pretty simple.
Posted on 4/13/21 at 8:29 pm to slackster
no, i said id never brag about making 16% bubba
does it suck? naa, but in 2020/2021 you need your head examined if thats your return
does it suck? naa, but in 2020/2021 you need your head examined if thats your return
Posted on 4/13/21 at 8:40 pm to finchmeister08
quote:
If there’s a computer than can reverse the blockchain, wouldn’t the central banking system also be a risk, if not at more risk?
Yes, the whole world would be pretty fricked if a hacker with a quantum computer could break existing encryption.
NIST is currently working on standardizing new encryption protocols that would be "hardened" against QC.
NIST project
Their current goal is to have a standardized encryption model by 2024. Most things I can find online suggest that it's highly unlikely that QC can break existing encryption before 2030, and some saying a 50/50 shot by 2035.
If that's the case, then we'd have ~6 years of an adoption period in which our entire internet would be adopting new encryption protocols, including crypto projects. There are other independent projects working on wrapping the new protocols in existing services, like TLS, to help with the transition.
Posted on 4/13/21 at 8:53 pm to rocket31
quote:
no, i said id never brag about making 16% bubba
Are you familiar with the law of large numbers? If so, do you see how BTC return is going to come down over time?
Or to ask it another way, do you see 100% annualized return over the next decade in BTC specifically?
Posted on 4/13/21 at 8:54 pm to slackster
quote:
Or to ask it another way, do you see 100% annualized return over the next decade in BTC specifically?
on average over the next decade, ya
Posted on 4/13/21 at 8:55 pm to slackster
quote:It already has. Extension has been less and less each of the last few cycles. Returns are still stupid compared to the stock market
do you see how BTC return is going to come down over time?
This post was edited on 4/13/21 at 8:56 pm
Posted on 4/13/21 at 8:58 pm to jimbeam
2017 1318.0%
2018 -72.6%
2019 87.2%
2020 302.8%
where are we for 2021?
2018 -72.6%
2019 87.2%
2020 302.8%
where are we for 2021?
This post was edited on 4/13/21 at 8:59 pm
Posted on 4/13/21 at 9:04 pm to rocket31
quote:
on average over the next decade, ya
Correct me if I’m wrong, but that would give it a 1.2 quadrillion market cap in a decade, right?
63,000 USD x 2^10 x 19,000,000 coins = 1.2x10^15
This post was edited on 4/13/21 at 9:09 pm
Posted on 4/13/21 at 9:13 pm to Shepherd88
quote:
Well, IBM quantum computing is about 2 years away from reverse mining blockchain for starters.
This is not true.
Posted on 4/13/21 at 9:13 pm to rocket31
Roughly 100% in 2021
Posted on 4/13/21 at 9:15 pm to DVinBR
quote:
some people forget about mtgox
Are you comparing Magic cards to coinbase?
Posted on 4/13/21 at 9:15 pm to slackster
quote:Yes. And won’t there be more coins in 10 years than now, even if there are fewer new coins over time?
Correct me if I’m wrong, but that would give it a 1.2 quadrillion market cap in a decade, right?
63,000 USD x 2^10 x 19,000,000 coins = 1.2x10^15
Posted on 4/13/21 at 9:19 pm to rocket31
quote:
Or to ask it another way, do you see 100% annualized return over the next decade in BTC specifically?
quote:
on average over the next decade, ya
Well I have to assume that you don’t have any other investments, correct? All cash available to you goes straight to BTC? Have you accessed all the equity you can in your home via a second mortgage and thrown it into BTC?
I have to assume yes. Because you believe annualized 100% returns over the next decade AND you’ve said that it’s the safest asset with no risk. Based on those two claims, you’d be an idiot not to access as much debt as possible and put it into BTC or to hold any other assets. Surely you’re not an idiot are you?
Posted on 4/13/21 at 9:22 pm to Tigerfan56
quote:And since he’s into that same dating/relationship philosophy as GoldenNugget (never getting married, I don’t even think monogamous relationship are allowed, no kids, etc.), he should have a lot of disposable income to play with as well.
Well I have to assume that you don’t have any other investments, correct? All cash available to you goes straight to BTC? Have you accessed all the equity you can in your home via a second mortgage and thrown it into BTC?
Posted on 4/13/21 at 9:25 pm to buckeye_vol
quote:
And since he’s into that same dating/relationship philosophy as GoldenNugget (never getting married, I don’t even think monogamous relationship are allowed, no kids, etc.), he should have a lot of disposable income to play with as well.
He’s got to be worth 10s of millions, at a minimum, yet he fricks around with GME.
Posted on 4/13/21 at 9:26 pm to slackster
quote:If we’re looking at 15 years or so if 100% returns, even a non-baller $500 a month will put someone at nearly $300 million after those 15 years.
He’s got to be worth 10s of millions, at a minimum, yet he fricks around with GME.
This post was edited on 4/13/21 at 9:28 pm
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