Financial topics

[Higgenbotham]

Bitcoin is really different. It is hard for even smart people to wrap their minds around it.

Yes, Bitcoin is really different, but not in the way almost everyone thinks (both people who are pro-Bitcoin and anti-Bitcoin).

Bitcoin is not just another bubble. It is the leading bubble in the mother of all bubbles. It is just the tip of the iceberg of the everything bubble, the all one market bubble.

Bitcoin will collapse with everything else. There is no long term future for Bitcoin. Or for anything else in the current financial system.

One poster on the World View thread did state essentially the same thing. But that poster is the only one I know of who has. Even the world's best economists (most of whom are anti-bitcoin) don't really get it right in my opinion.

For the last 100 years 'clever' people have been inventing ever more fiendishly complex mechanisms to make profits out of financial instruments that have less and less connection to the real world. Bitcoin being the ultimate example, being worth a fortune based purely on speculation that it will be worth an even bigger fortune tomorrow.

I doubt many people trying to keep control of this have the faintest understanding of a fraction of it. At which point the EU appoint a lawyer to run their central bank.

What can possibly go wrong?

And when it inevitably does, who going to get burnt?

Those people who created this monster in the first place and have lived the high life on the back of it, or me, who's had nothing to do with this having spent my life trying to have a reasonable career and provide the important things for my family?

Guest has it right.

[aeden]

3:97
search.php?keywords=hayek&t=2&sf=msgonly
https://www.youtube.com/watch?v=aVdjP8XfU_0
thread: amos
13% Stocks 5% Bonds 5% Other 77% Cash

ytd book2 9.16%
NASDAQ Composite Index 0.63%
S&P 500 Index 0.65%
Dow Jones Industrial Average 0.60%

Only warning we gave is get off the table at close. Not rocket science its game theory.
Snowdrift Dilemma, a metaphor from game theory - the study of strategic decision making -.

[John]

** 03-Mar-2021 World View: Bitcoin is different

> Yes, Bitcoin is really different, but not in the way almost
> everyone thinks (both people who are pro-Bitcoin and
> anti-Bitcoin).

> Bitcoin is not just another bubble. It is the leading bubble in
> the mother of all bubbles. It is just the tip of the iceberg of
> the everything bubble, the all one market bubble.

> Bitcoin will collapse with everything else. There is no long term
> future for Bitcoin. Or for anything else in the current financial
> system.

You're making the point that Cool Breeze and Vince and many others are
missing -- that bitcoin is following standard bubble pattern.

Some people say, "Look! Bitcoin keeps going up! That proves how
powerful and wonderful bitcoin is! And it proves that bitcoin is here
to stay, even after everyone goes broke!"

When people say that bitcoin going up proves that bitcoin will survive
have it backwards. The fact that bitcoin keeps going up, with no
underlying core value, proves the opposite -- that when there is a
general financial crisis, with people forced to sell their assets to
pay off their margin calls and other debts, there will be no buyers
for the desperate bitcoin sellers, and the value of bitcoin will go to
ground.

The correct statement is: "Look! Bitcoin keeps going up! That proves
how bitcoin is a bubble!"

[aeden]

DMG Announces Cdn $70 Million Private Placement Offering with U.S. Institutional Investors.
One megawatt of energy generated could furnish power to approximately 2,941,176 homes per second.
Scalable.

Germany’s financial regulator found irregularities with how Greensill Bank AG booked assets. tyler

Maybe. But I will stay small and flexible for now.

Agree.
Adapt frequency.
FOF always follows the same route.
Reliability engineering you know well H

As we noted we are trying to avoid dialectical democrat retards with another crayola colored crayons putsch. Date not needed here.


thread: adapt, sogo, lightswitch

[aeden]

So now that the Senate parliamentarian (an unelected position created in 1935) has advised that the provision to raise the minimum wage to $15 by 2025 cannot be included in the COVID relief bill, we're back here again. Because the Democrats are trying to pass the bill through a process called "budget reconciliation," which requires just 51 votes instead of 60. Holmes
https://www.thesaurus.com/browse/profligate
thread: gigo

[aeden]

They can go recruit in the hood, sex change front hole clinics, Castro Francisco, BLM and ANTIFA meetings, College safe spaces, diversity workshops, and at the no border. Dr. Anti Suess cults run the show and a Goat will be tossed to see if it floats.

[aeden]

DeFi investments are not interested in lethargic dinos.
The world is run by pumpkin head puppets.
They know in ten years blockchains will last longer than the current body farm front holes.
https://pubmed.ncbi.nlm.nih.gov/16115318/
I stopped at Thomas Friedman.
The market is no longer the market.
Irrational investor activity.

Only one by one do they regain their sanity.
King who ate straw.
Blame the Russian Chick.
https://www.youtube.com/watch?v=Ki6xHnDAwHw

barns bullion bitches

(Kitco News) Signs of inflation are already here.
March Comex silver futures were trading at $26.69

[Higgenbotham]

** 03-Mar-2021 World View: Bitcoin is different

Some people say, "Look! Bitcoin keeps going up! That proves how
powerful and wonderful bitcoin is! And it proves that bitcoin is here
to stay, even after everyone goes broke!"

Peter Lynch, who managed the Fidelity Magellan Fund for 13 years, returning an average of 29 percent per year while the stock market essentially went nowhere, had this to say about price in One Up on Wall Street:

If I had to choose a great single fallacy of investing, it’s believing that when a stock’s price goes up, then you’ve made a good investment. People often take comfort when their recent purchase of something at $5 a share goes up to $6, as if that proves the wisdom of the purchase. Nothing could be further from the truth. Of course, if you sell quickly at the higher price, then you’ve made a fine profit, but most people don’t sell in these favorable circumstances. Instead they convince themselves that the higher price proves that the investment is worthwhile, and they hold on to the stock until the lower price convinces them the investment is no good. If it’s a choice, they hold on to the stock that’s risen from $10 to $12, and they get rid of the one that’s dropped from $10 to $8, while telling themselves that they have “kept the winner and dumped the loser.”

That’s just what might have happened back in 1981, when Zapata, an oil stock at the height of the energy boom, must have seemed far more pleasant to own than Ethyl Corp., a so-called “dog that got run over” because of the EPA ban on its main product—lead additives for gasoline. However, the “better” stock of these two went from $35 to $2, and you couldn’t have bailed that one out with the Big Dipper. Meanwhile Ethyl was getting great results from its specialty chemicals division, improved performance overseas, and rapid consistent growth from its insurance operation. Ethyl stock went from $2 to $32.

So when people say, “Look, in two months it’s up 20 percent, so I really picked a winner,” or “Terrible, in two months it’s down 20 percent, so I really picked a loser,” they’re confusing prices with prospects. Unless they are short-term traders who are looking for 20-percent gains, the short-term fanfare means absolutely nothing.

A stock’s going up or down after you buy it only tells you that there was somebody who was willing to pay more—or less—for the identical merchandise.

https://books.google.com/books?id=TYOdI ... 22&f=false

[Cool Breeze]

** 03-Mar-2021 World View: Bitcoin is different

> Yes, Bitcoin is really different, but not in the way almost
> everyone thinks (both people who are pro-Bitcoin and
> anti-Bitcoin).

> Bitcoin is not just another bubble. It is the leading bubble in
> the mother of all bubbles. It is just the tip of the iceberg of
> the everything bubble, the all one market bubble.

> Bitcoin will collapse with everything else. There is no long term
> future for Bitcoin. Or for anything else in the current financial
> system.

You're making the point that Cool Breeze and Vince and many others are
missing -- that bitcoin is following standard bubble pattern.

Some people say, "Look! Bitcoin keeps going up! That proves how
powerful and wonderful bitcoin is! And it proves that bitcoin is here
to stay, even after everyone goes broke!"

When people say that bitcoin going up proves that bitcoin will survive
have it backwards. The fact that bitcoin keeps going up, with no
underlying core value, proves the opposite -- that when there is a
general financial crisis, with people forced to sell their assets to
pay off their margin calls and other debts, there will be no buyers
for the desperate bitcoin sellers, and the value of bitcoin will go to
ground.

The correct statement is: "Look! Bitcoin keeps going up! That proves
how bitcoin is a bubble!"

Again, you create imaginary people in your mind and attack their (supposedly) weak argument. That's not what we say.

You still haven't explained "underlying, core value". Why? Because you can't. Does fiat have an underlying, "core" value? Why isn't it a bubble (ha, it's not bigger than BTC, unreal how foolish this sentiment is)? Does gold? Open your mind, use your reason. Anything you claim about BTC can be said about any other device or entity in the world, there is no exception - except food drink and shelter, all perishable things that have their own frailties even, otherwise. How many times do I have to state this FACT?

[Cool Breeze]

** 03-Mar-2021 World View: Bitcoin is different

Some people say, "Look! Bitcoin keeps going up! That proves how
powerful and wonderful bitcoin is! And it proves that bitcoin is here
to stay, even after everyone goes broke!"

Peter Lynch, who managed the Fidelity Magellan Fund for 13 years, returning an average of 29 percent per year while the stock market essentially went nowhere, had this to say about price in One Up on Wall Street:

If I had to choose a great single fallacy of investing, it’s believing that when a stock’s price goes up, then you’ve made a good investment. People often take comfort when their recent purchase of something at $5 a share goes up to $6, as if that proves the wisdom of the purchase. Nothing could be further from the truth. Of course, if you sell quickly at the higher price, then you’ve made a fine profit, but most people don’t sell in these favorable circumstances. Instead they convince themselves that the higher price proves that the investment is worthwhile, and they hold on to the stock until the lower price convinces them the investment is no good. If it’s a choice, they hold on to the stock that’s risen from $10 to $12, and they get rid of the one that’s dropped from $10 to $8, while telling themselves that they have “kept the winner and dumped the loser.”

That’s just what might have happened back in 1981, when Zapata, an oil stock at the height of the energy boom, must have seemed far more pleasant to own than Ethyl Corp., a so-called “dog that got run over” because of the EPA ban on its main product—lead additives for gasoline. However, the “better” stock of these two went from $35 to $2, and you couldn’t have bailed that one out with the Big Dipper. Meanwhile Ethyl was getting great results from its specialty chemicals division, improved performance overseas, and rapid consistent growth from its insurance operation. Ethyl stock went from $2 to $32.

So when people say, “Look, in two months it’s up 20 percent, so I really picked a winner,” or “Terrible, in two months it’s down 20 percent, so I really picked a loser,” they’re confusing prices with prospects. Unless they are short-term traders who are looking for 20-percent gains, the short-term fanfare means absolutely nothing.

A stock’s going up or down after you buy it only tells you that there was somebody who was willing to pay more—or less—for the identical merchandise.

https://books.google.com/books?id=TYOdI ... 22&f=false

For the 20th time, no one who knows anything about BTC, or posts on this board, ever has stated that the reason to believe in or buy BTC even, is due to its price going up. The reason you buy and hold are because it has properties that are important and valuable, particularly for this time in history. And that its portability and network effect are phenomenal, the greatest of all time (portability), in fact.

To say that BTC doesn't have underlying value is to fundamentally not understand bitcoin. If you don't understand it (I've listed these reasons for months now, it's a waste of time repeating them all again though I did some above) then you are STILL are left to explain why billionaire investors are buying it. Wanna get laughed at? Go tell someone that Saylor, Musk, Tudor Jones, O'Leary, Druckenmiller - you name him - bought BTC for the hell of it. Yeah, they did it just for fun. WTF are you guys serious?

If you really believe that, you are the delusional one, not others. Think about it. But ego and pride are big for people, not maturity and humility, which enable people to admit when they are incorrect. So we move on, then. Last chance.