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Discussion in 'The Mainboard' started by Nantucket, Jan 29, 2017.
You keep bringing up Ray Dalio, so I looked and he recommends allocating 2% of net worth to crypto. I might be misunderstanding, but it seems like your allocation is way over 2%. Doesn't that actually mean that Ray Dalio thinks you should sell? That in Ray Dalio's opinion, you are way too concentrated into crypto? I mean, 2% seems like a very small amount, yet you cite him as a champion of crypto.
If Bitcoin disappeared tomorrow, not very many people's lives would change. If Google, Apple, or Amazon were to vanish, billions would freak out because they provide ACTUAL UTILITY. Investing in that is different than investing essentially in FOREX.
hes said outside of real estate he's 100% bitcoin or bitcoin exposed (MSTR in his 401k for example)
seems like a horrendous idea
Down $400 in real money valuation in under an hour probably nothing HFBP
Well it sure seems like it right now
Don’t think anyone is questioning if he is a true believer
Seems like all these hot shot investors don't agree with his investment "thesis" at all. So weird that he keeps citing these guys as authority for something completely different that they recommend.
why would you ever want to invest in something so speculative that the asset losing 80% of its value is nbd because it happens so frequently?
I forget the original name but I believe the lore is that he posted a gal to the tinder thread and the gal found out.
Because it could go into the 100s of trillions HFBP
Wasn’t he gatorfaniniowa?
Druckenmiller, Jones, Dalio, etc. are far from young. If you're persuaded by the rationale and logic in Munger and Buffett's public comments on btc, then go for it. I think they have surface level uninformed takes. I tend to find that the people who have actually studied btc can give far more thoughtful and reasoned answers on how it could fail than Buffett and Munger. It's far from a certainty to succeed. You could point to regulation, transaction fees, security design post-2140, etc. and get little pushback from me. But relying on the "ponzi!" takes demonstrates a lack of understanding.
There are probably 10+ articles addressing the ponzi point. It's nonsense to call open source computer software a ponzi. It promises nothing.
If he grew up in the 90's, is a Florida fan and is from Iowa, that essentially makes him a Manchester City supporter. The man likes to hop on a bandwagon it seems.
It’s a good store of value though
Twitter brain shit.
Stay with me here because I think you're maybe smart enough to figure it out: if Dalio is at 2%, Miller at ~50%, Druckenmiller has an allocation, PTJ has an allocation, etc., then maybe the point is that they see some utility in owning it as an asset. Contrast that to the "ponzi" "beanie babies" "tulips" crowd in here. What do the professional investors know that you don't?
I'm comfortable with a higher allocation because I'm comfortable with that risk profile.
Wait until you find out it's dropped like $10k in a day before. The fact you think it's noteworthy that btc could swing $500 down is funny.
Straw man. Never said you or anyone else should be invested at any percentage amount. I like the contrast of professional money managers' approach to the asset versus the idiotic surface level posting itt.
Nah. More like shrapnel related to something Chumbolone was dealing with.
Bc it sometimes it goes up 2000%?
This thread is fascinating. For multiple reasons. Don’t stop, I’m almost there.
This is some quality public theater. Like instant A+ for a college final thesis. To quote the cool kids, I’m here for it.
Virtual handshake to User and Chumbo and PTD and Lyrtch and Gallant for not budging from their beliefs a fucking ounce.
My only addition is some Lana del Ray lyrics:
You name your babe Lilac Heaven
After your iPhone 11
"Crypto forever" screams your stupid boyfriend
Fuck you, Kevin
You keep latching on to ponzi and the investor aspect. I only mentioned it to refute your but smart successful people agree with me point. You use these people as why, I gave you equally if not more successful people that disagree. Basically it is a push on the point. Move on to defending hedge against inflation with an 80% drawback in an inflationary market. Then step over to store of value with the same premise. Follow it with better currency while telling me how many places bitcoin is accepted for transactions. We can move on to security and user error for the third act.
Categorically false, I called the top when Gallant came in here seeking crypto investment advice.
Once it reaches Gallant’s consciousness and he starts asking questions, time to take profits. Be it horses, mobile home parks, storage facilities, stocks, crypto, etc.
This sentiment is what built Las Vegas.
Fair point - I think. Impossible to follow everything in this thread. I added him at the last second since he’s been vocal lately. And he’s given me a few sensible chuckles.
it only goes up 2000% if you sell and realize those gains
maybe I'm wrong but i get the impression that the biggest btc proponents don't sell
It's not a "push" on the point. But at a minimum, you should wonder what all the successful money managers see in btc.
On inflation hedge/store of value, time horizons matter. Go back to January 1, 2020 pre-pandemic. Pick an asset to buy: I'll let you have gold, SP500, nasdaq, bonds, etc. I'll buy btc. Which of us performed better in the next 2.5 years of inflation? Which of us preserved our value better? Over any long backward looking time frame, the answer is not remotely close. Does that mean it'll happen moving forward? I don't know, but I have an investment thesis and have allocated accordingly.
I don't judge a 10+ year investment thesis on month(s) or 1-2 year timeframes.
For better currency, the analysis isn't exactly rocket science. Maybe read this or run through any comparison between gold and btc on the traits that made gold money and a store of value historically: https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1
Or don't read it....I don't care either way. "BTC isn't accepted at enough places for transactions" is the least interesting or persuasive point you could make against it. It takes a simple phone app for that to change over the next few years and your point is eliminated. But if you insist on that as a talking point, then here: https://www.pymnts.com/blockchain/b...s-strike-partners-with-ncr-shopify-blackhawk/
"Strike last night announced deals that will bring crypto payments to NCR point-of-sale terminals, Shopify and prepaid payments provider Blackhawk Network.
Unveiling a list of major retailers that will be able to accept bitcoin payments that included McDonald’s, Walmart, Starbucks, Best Buy, Home Depot, Staples, Wendy’s and Macys, among others, Mallers said they would be able to use the network to receive payments in cash or, if they choose, bitcoin."
feel like there could be something here for why yall have this shared history across a few things
I will own that in hindsight the Tinder thread and my posting in it was not a good idea. That having anything to do with this is you reaching.
March 18, 2020
April 15, 2021
November 12, 2021
December 2, 2021
June 18, 2022
Everyone, except you.
Post through it, buddy.
i'm a social scientist
some interesting parallels
Maybe, going through life rich and handsome makes it hard to relate to most people.
And Vegas is awesome.
you'd think it'd lead to some self esteem but alas
You’d think, all I get is arm chair diagnosis and cope from the managerial class.
Oh this is good and explains a lot. “How many bitcoins can be mined?” “I’m addicted to buying solana.” Lofuckingl
You are right it’s not a push. I used arguably the most successful investor. You should wonder what the most successful money manager sees in btc.
On inflation there was near zero, 1.4, inflation in 2020 and similar through the first half of 2021. When that changed the markets and crypto all did the same thing. They went down. This I know causes cognitive dissonance for crypto folks. Also you do not get to pick a specific crypto and then tell me to compare it to an index. So I will take Tesla. Another push? Bitcoin on 1/3/2020 was $7347 and Tesla was $88.60.
Now we move on to comparing to gold, also not used as a currency today. Nice pivot. Then hey look we just signed a deal to use the currency as well a currency. Thirteen years after debut. By the way, able to accept and willing to accept are two different things. Many retailers years ago would accept bitcoin. They stopped when the volatility made it problematic. So this announcement means little as it has been done before and here we are still not using it as a currency. I understand why you find this point uninteresting. You find all points that don’t agree with your belief uninteresting.
Markets Tuesday should be fun
is Dril behind this account?
I agree that would be a great purge
which is what makes the game all the more humorous when you get a couple of incel millenials that think, 14months on a Discord server makes me an Expert.
America got fucked in the 90s when kids could intake CNBC and get rich quick. No lessons were learned.
Rich guy brain right there
Btc is up $1600 in the last hour. Where’s your update?
Btc is up 1600 in the last hour and now only down 6% over the last 24 hours
Seems like a pretty run of the mill bill trap
Tapped some liquidity/buy orders around $18k but heading back down