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re: Dave Ramsey: Will the stock market crash under Joe Biden?
Posted on 4/13/21 at 10:01 pm to rocket31
Posted on 4/13/21 at 10:01 pm to rocket31
quote:
$200 trillion market cap is my conservative thesis moving forward, we are currently at $1.1 trillion
You said 100% growth for the next decade. That’s a $1.2Q market cap in 2031. How does that happen in your thesis?
1
Posted on 4/13/21 at 10:04 pm to slackster
well we currently are living in a monetary expansion environment in case you have not been paying attention and it will demonetize several of the assets i just mentioned
Posted on 4/13/21 at 10:09 pm to rocket31
My concerns with BTC are: the eventual aggregation of wealth to the top, similar to traditional Fiat system, and centralization of the mining.
I'm a big believer in the principles of ETH and other decentralized protocols, and hope that it takes off. I see BTC as crypto 1.0 and as other protocols emerge I think it'll be replaced. Smart contracts provide real value to the real world through dapps, and eth2 will be a pretty solid store of value as well.
ETA
But BTC is going to have a lot of momentum from mainstream adoption, so it's not going anywhere soon.
I'm a big believer in the principles of ETH and other decentralized protocols, and hope that it takes off. I see BTC as crypto 1.0 and as other protocols emerge I think it'll be replaced. Smart contracts provide real value to the real world through dapps, and eth2 will be a pretty solid store of value as well.
ETA
But BTC is going to have a lot of momentum from mainstream adoption, so it's not going anywhere soon.
This post was edited on 4/13/21 at 10:10 pm
Posted on 4/13/21 at 10:10 pm to Hulkklogan
quote:
I'm a big believer in the principles of ETH
youre a big believer in the principles of ETH that they are constantly changing?
that makes no sense
Posted on 4/13/21 at 10:11 pm to Hulkklogan
quote:
Smart contracts provide real value to the real world through dapps, and eth2 will be a pretty solid store of value as well.
you can run smart contracts on bitcoin through DLCs
Posted on 4/13/21 at 10:22 pm to slackster
quote:What is total return to today from the 2013 and 2017 peaks though?
Mind you, this is the same guy that would have sucked dick for a 16% return in 2014 or 2018 in crypto.
Posted on 4/13/21 at 10:27 pm to Tigerfan56
quote:To be fair he did not say this. He said USDC is safe with no risk because it is pegged to the dollar.
Because you believe annualized 100% returns over the next decade AND you’ve said that it’s the safest asset with no risk.
Posted on 4/13/21 at 10:33 pm to Hulkklogan
quote:
My concerns with BTC are: the eventual aggregation of wealth to the top
quote:Don't the ETH devs hold >50% of the coins?
I'm a big believer in the principles of ETH
Posted on 4/13/21 at 11:06 pm to slackster
Posted on 4/14/21 at 5:59 am to TigerTatorTots
The top 10 ETH addresses wallets hold ~20%. So.. no?
Wealth accumulaton at the top is still a concern for eth2, but once they get gas fixed up i think we'll see a lot more retail-friendly options like we see popping up on BSC.
Wealth accumulaton at the top is still a concern for eth2, but once they get gas fixed up i think we'll see a lot more retail-friendly options like we see popping up on BSC.
Posted on 4/14/21 at 6:06 am to rocket31
quote:
youre a big believer in the principles of ETH that they are constantly changing?
that makes no sense
The principles of open & trustless defi & dapps are what Ethereum is about. Uniswap is the perfect example.
Changing from PoW to PoS is not changing their principles, it's updating technology because PoW is old and doesn't scale as well.
ETH2 and PoS will be more secure than BTC from a 51% attack, and staking gives pretty secure returns to make it a good store of value. I believe Ethereum, or a similar protocol, is the future of crypto.
ETA
But hey I'm still new to the game, so don't listen to me.
This post was edited on 4/14/21 at 6:21 am
Posted on 4/14/21 at 7:15 am to Hulkklogan
sounds like Ryan Adams talking points who is paid by ETH to shill, am i correct?
good luck man, but youre starting off on a similar path from when you used to follow gary taubes
bitcoin is money first, tech second.
you cant call ETH a "store of value" when the circulating supply is unknown and the monetary issuance policy is continuing changing
bitcoin was created as PoW purposely to avoid the legacy financial system and a 51% would be impossible at this point
and yeah, eth might be the future of "crypto", but bitcoin isnt crypto and the eth foundation has been making promises on ETH 2.0 for over 3 years now which continually get delayed
this is what you need to understand about this space, there is no foundation or CEO promoting bitcoin. its just code, the creator is likely dead. every other coin and foundation has a monetary incentive to pump their projects and FUD bitcoin. most of these projects are also premined and created out of thin air making the developers extremely rich in the process. im not saying they are worthless because there is a lot of value in this space, but you cant compare bitcoin to anything else, we literally can not recreate what satoshi did ever again
good luck man, but youre starting off on a similar path from when you used to follow gary taubes
bitcoin is money first, tech second.
you cant call ETH a "store of value" when the circulating supply is unknown and the monetary issuance policy is continuing changing
bitcoin was created as PoW purposely to avoid the legacy financial system and a 51% would be impossible at this point
and yeah, eth might be the future of "crypto", but bitcoin isnt crypto and the eth foundation has been making promises on ETH 2.0 for over 3 years now which continually get delayed
this is what you need to understand about this space, there is no foundation or CEO promoting bitcoin. its just code, the creator is likely dead. every other coin and foundation has a monetary incentive to pump their projects and FUD bitcoin. most of these projects are also premined and created out of thin air making the developers extremely rich in the process. im not saying they are worthless because there is a lot of value in this space, but you cant compare bitcoin to anything else, we literally can not recreate what satoshi did ever again
This post was edited on 4/14/21 at 7:26 am
Posted on 4/14/21 at 7:31 am to rocket31
quote:
heres the thing, ive questioned myself, weekly, for years on bitcoin so nothing these people have said to me, i havent asked myself over 100x already and my final analysis came down to only one conclusion. btw, my investment thesis could change, and if it does ill let everyone know
Well, I’ll say this:
I disagree with you entirely - not so much on Bitcoin. I’m bullish on Bitcoin. But I think you’re euphorically optimistic. To think annualized returns of 100% for ten years and no risk is crazy in my opinion.
But, that being said, it sounds like you’ve gone all in on it yourself so you aren’t just some douche spouting bs on a message board. You’ve put your money where your mouth is even if I think you’re wrong. I’ve been wrong plenty of times, so my predictions aren’t any better than anyone else’s. Best of luck to you
Posted on 4/14/21 at 7:36 am to Ross
quote:
Rocket has said previously 90+% of his net worth is held in BTC. You may disagree with his belief in the asset but his conviction is real.
He clearly wasn't around during the last crypto crash after 2017, and there will be another one. And if he was, he probably got a good hard reality check then that Crypto does have some big risk.
I've been around crypto since 2013, this guy is an absolute laugh because he made some money in crypto the last year acting like he has it all figured out
This post was edited on 4/14/21 at 7:40 am
Posted on 4/14/21 at 7:41 am to rocket31
Ryan Adams/Bankless is one resource I follow but not the only one.
I'm actively trying to not fall into that same trap that you've mentioned - following one thought line as an ideology. I don't think ethereum is perfect, either. I'm invested in BTC, ETH, and BNB (for BSC) and projects within both BSC and ETH. I'm keeping a close eye on ADA, though I'm not convinced it's the future.
I just think BTC is very obviously flawed. It's immutability is both its best feature and its achilles heel. For example, when a quantum computer can break existing hashing algorithms, BTC will be useless unless someone makes a new BTC with the new encryption protocols.. but that would defeat the whole ideology of BTC.
I'm actively trying to not fall into that same trap that you've mentioned - following one thought line as an ideology. I don't think ethereum is perfect, either. I'm invested in BTC, ETH, and BNB (for BSC) and projects within both BSC and ETH. I'm keeping a close eye on ADA, though I'm not convinced it's the future.
I just think BTC is very obviously flawed. It's immutability is both its best feature and its achilles heel. For example, when a quantum computer can break existing hashing algorithms, BTC will be useless unless someone makes a new BTC with the new encryption protocols.. but that would defeat the whole ideology of BTC.
Posted on 4/14/21 at 7:45 am to Hulkklogan
quote:
For example, when a quantum computer can break existing hashing algorithms, BTC will be useless unless someone makes a new BTC with the new encryption protocols.. but that would defeat the whole ideology of BTC.
forking to a quantum resistance protocol doesnt change the code buddy
and yeah, there is nothing wrong with diversifying, i own some alts as well
Posted on 4/14/21 at 7:50 am to Tigerfan56
quote:
To think annualized returns of 100% for ten years and no risk is crazy in my opinion.
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
This post was edited on 4/14/21 at 7:51 am
Posted on 4/14/21 at 7:50 am to rocket31
quote:
I can get 12% with zero risk at all so
There is no such thing as zero risk.
Posted on 4/14/21 at 7:52 am to boogiewoogie1978
quote:
There is no such thing as zero risk.
yea this is why i hold all my bitcoin under my pillow so it doesnt get hacked
Posted on 4/14/21 at 8:00 am to Hulkklogan
quote:
For example, when a quantum computer can break existing hashing algorithms, BTC will be useless unless someone makes a new BTC with the new encryption protocols.. but that would defeat the whole ideology of BTC.
Moving away from SHA256 would be a soft fork and one the community would embrace if quantum computing became a threat to the protocol.
But honestly traditional banking and the internet in general would be facing a very similar issue. SHA2 is used in most of the security certificates I’ve ever seen.
This post was edited on 4/14/21 at 8:01 am
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