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re: Dave Ramsey: Will the stock market crash under Joe Biden?
Posted on 4/14/21 at 3:12 pm to wutangfinancial
Posted on 4/14/21 at 3:12 pm to wutangfinancial
yea it's a meme.
a meme is debasing gold at alarming rates. what a world
a meme is debasing gold at alarming rates. what a world
0
Posted on 4/14/21 at 3:13 pm to wutangfinancial
quote:
What's your finance/economics background?
lol my lord what is wrong with you people
as someone with a PhD I can assure you that formal education is completely garbage
This post was edited on 4/14/21 at 3:14 pm
Posted on 4/14/21 at 3:20 pm to rocket31
You clearly don't understand the banking system that well.
And yes it's a meme. You have your entire net worth in the riskiest asset class based on a meme. I must say I wish I had that much conviction in anything related to my life
The real question is why aren't you using leverage?
And yes it's a meme. You have your entire net worth in the riskiest asset class based on a meme. I must say I wish I had that much conviction in anything related to my life
The real question is why aren't you using leverage?
Posted on 4/14/21 at 3:25 pm to wutangfinancial
quote:
The real question is why aren't you using leverage?
Supposedly he is.
If BTC crashes I don’t think rocket will be able to afford the internet capacity necessary to eat any crow.
Posted on 4/14/21 at 3:25 pm to wutangfinancial
quote:Volatility can wipe someone out trading on leverage. If your thesis is that BTC will increase substantially, but also have wild swings from point A to point Z, leverage isn't smart. You can be liquidated out of your control with leverage.
The real question is why aren't you using leverage?
ETA: If you are classifying borrowing against your home to buy more bitcoin, well thats different.
This post was edited on 4/14/21 at 3:26 pm
Posted on 4/14/21 at 3:25 pm to slackster
Crashes to what price?
Posted on 4/14/21 at 3:26 pm to wutangfinancial
quote:
real question is why aren't you using leverage?
I did months ago. I went all in. I posted about it
Posted on 4/14/21 at 3:27 pm to slackster
quote:
BTC crashes I don’t think rocket will be able to afford the internet capacity necessary to eat any crow.
well considering bitcoin is up 809% yoy. I'm pretty insulated from any crash at this point
Posted on 4/14/21 at 3:28 pm to jimbeam
quote:
Crashes to what price?
I guess rocket would have to answer that for us. At what point per BTC would he be effectively broke?
Posted on 4/14/21 at 3:29 pm to rocket31
quote:
well considering bitcoin is up 809% yoy. I'm pretty insulated from any crash at this point
How does that work? If you’re using leverage you can always lose more than you have.
Posted on 4/14/21 at 3:33 pm to rocket31
Even if your thesis is 100% true. I'm not sure what you think you're going to accomplish holding 10k BTC at whatever price when the global monetary system is collapsing around you. Is the thought process that there's going to be a peaceful commune of rich BTC holders who have the ability to survive and completely removed themselves from the system?
Posted on 4/14/21 at 3:33 pm to slackster
you pay choose to pay off your loan with the interest earned from bitcoin appreciation
it's compounded weekly/monthly at 6-8% depending on the outfit you choose.
the rub is that they can change rates on you.. for example, blockfi recently said you can only earn 6% on one bitcoin and cut rates severely for anything more than 1
I already have the loans paid off all things considering but I'll roll them over when the time comes
it's compounded weekly/monthly at 6-8% depending on the outfit you choose.
the rub is that they can change rates on you.. for example, blockfi recently said you can only earn 6% on one bitcoin and cut rates severely for anything more than 1
I already have the loans paid off all things considering but I'll roll them over when the time comes
This post was edited on 4/14/21 at 3:36 pm
Posted on 4/14/21 at 3:34 pm to rocket31
quote:
well considering bitcoin is up 809% yoy. I'm pretty insulated from any crash at this point
Precisely what Hwang was thinking a few weeks ago.
This post was edited on 4/14/21 at 3:35 pm
Posted on 4/14/21 at 3:37 pm to wutangfinancial
quote:
the global monetary system is collapsing around you.
I'm thinking dollars and bitcoin are pretty insulated from all other fiats. so I imagine a world where we see the globalization of the dollar
we are lucky to have access to dollars
Posted on 4/14/21 at 3:42 pm to rocket31
Wait though that's already happened. So you're a dollar and BTC bull? That's a new one.
Your last statement couldn't be more true if you hate central banks debasing currencies
Your last statement couldn't be more true if you hate central banks debasing currencies
This post was edited on 4/14/21 at 3:43 pm
Posted on 4/14/21 at 3:44 pm to wutangfinancial
quote:
Your opinion on our monetary system comes from a meme. Think about that for a second while considering 90% of your wealth is concentrated in 1 asset with the most volatile/risky actors on the planet joining you. All based on a meme.
Posted on 4/14/21 at 3:45 pm to wutangfinancial
I've been saying I'd spend in dollars and then save in bitcoin
dollar milkshake theory seems to becoming a reality
I'm not one of those crypto anarchists who believes bitcoin is just going to take over every financial system in existence
dollar milkshake theory seems to becoming a reality
I'm not one of those crypto anarchists who believes bitcoin is just going to take over every financial system in existence
This post was edited on 4/14/21 at 3:48 pm
Posted on 4/14/21 at 3:45 pm to rocket31
quote:
holding fiat is a -2.5% risk per year as thats the inflationary goal (its debatebly much higher) and you do not have control over the issuance.
Agreed
I didn't say anything specifically about it being bitcoin-only, I said concentration of any asset class is risky
quote:
please do not talk to me about risk, lol, you guys just simply do not get it.
you don't get it.
I'm not saying you won't become rich, taking risk is the key part of becoming rich. But you are delusional if you think this a low risk investment.
Posted on 4/14/21 at 3:48 pm to barry
quote:
But you are delusional if you think this a low risk investment.
I mean. the math is currently onn my side and most discussions are settled through mathematics so..
Posted on 4/14/21 at 3:49 pm to rocket31
Dollar milkshake involves a deflationary collapse in global asset prices due to insolvency. You think people won't liquidate BTC in that scenario?
Edit: I'm impressed with your thesis its unique at least which makes it interesting to talk through.
Edit: I'm impressed with your thesis its unique at least which makes it interesting to talk through.
This post was edited on 4/14/21 at 3:51 pm
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