BITCOIN

Zola.

https://www.youtube.com/watch?v=EJ4ngagzAec

"Using the Bitcoin network for transactions is too slow" 

Zola.

https://twitter.com/BitcoinMagazine/status/1483781660873310214

  

Scottex99

"Bitcoin will use more power than power uses" Lol

Scottex99

Aegis said:

Scottex99 said:

Fair value argument conveniently gets you off the hook regardless of how high the BTC price goes. I wish I’d known about it in 2015 as I’d be 2 years further down the rabbit hole and considerably richer (less important).

If you read the whole 160 pages again you’ll see you’re not offering any balance, you’re just repeating the same arguments that all nocoiners do about how blockchain can’t be with anything because there’s no company and no dividend. You’re not actually a MSE superhero protecting the naive from reading one Bitcoin post and throwing 90% of their liquid wealth into crypto because 1. That wouldn’t happen and 2. People that stupid will be parted with their money regardless.

I don’t need to block you but I could easily waste less time on here, maybe I’ll go hang out in the Metaverse instead 👍

I'm not on the hook, remember, I'm not invested.  The price can go to literally any level and it will have no impact on me whatsoever (unless someone changes my mind and makes the investment case for bitcoin clear to me, which at this point seems unlikely).

Of course I'm offering balance, I'm literally asking the questions that, if answered, would show whether an investment is worthwhile or not.  I've never claimed to be a superhero, just an interested investor with enough empathy to want to share some of the experience I've had over the years both personally and professionally.  And yes, there are definitely people out there who will throw the vast majority of their money at bitcoin because they've read a few good things about it, and some of them might well not proceed because they ask the same questions and get the same answers.

I don't know about you, but if I see someone drop a £20 note, I'll usually pick it up and give it back to them.  I'm not a fan of the idea that they should lose their money because they weren't safe enough with it to keep it secure, same with investments.  I will happily try and help people that are "that stupid" if I can, not to make a specific decision but to help them learn how to make better investment decisions on their own, most of which is a case of asking the right questions..

It would have an impact on me if I'd chanced upon the potentially soundest money of all time and not got myself a bit of exposure as it become the fastest growing asset of all time. But each to their own. If you're truly impartial at either $0 or $1m per BTC then good for you.

I'm saying you're not offering balance as 90% are anti crypto on here anyway and you're not offering anything that hasn't already been said. The same way I'm not. If you don't believe that financial independence, decentralisation, store of wealth, inflation hedge blah blah blah can add up to some value, then you're not going to change your mind now. But other people do believe these things and I believe that's why number goes up. Maybe I'm wrong but I haven't been so far since I discovered it.

£20, i'd give it back as I'm rich now. Jokes.

Aegis

Scottex99 said:

Aegis said:

Scottex99 said:

Fair value argument conveniently gets you off the hook regardless of how high the BTC price goes. I wish I’d known about it in 2015 as I’d be 2 years further down the rabbit hole and considerably richer (less important).

If you read the whole 160 pages again you’ll see you’re not offering any balance, you’re just repeating the same arguments that all nocoiners do about how blockchain can’t be with anything because there’s no company and no dividend. You’re not actually a MSE superhero protecting the naive from reading one Bitcoin post and throwing 90% of their liquid wealth into crypto because 1. That wouldn’t happen and 2. People that stupid will be parted with their money regardless.

I don’t need to block you but I could easily waste less time on here, maybe I’ll go hang out in the Metaverse instead 👍

I'm not on the hook, remember, I'm not invested.  The price can go to literally any level and it will have no impact on me whatsoever (unless someone changes my mind and makes the investment case for bitcoin clear to me, which at this point seems unlikely).

Of course I'm offering balance, I'm literally asking the questions that, if answered, would show whether an investment is worthwhile or not.  I've never claimed to be a superhero, just an interested investor with enough empathy to want to share some of the experience I've had over the years both personally and professionally.  And yes, there are definitely people out there who will throw the vast majority of their money at bitcoin because they've read a few good things about it, and some of them might well not proceed because they ask the same questions and get the same answers.

I don't know about you, but if I see someone drop a £20 note, I'll usually pick it up and give it back to them.  I'm not a fan of the idea that they should lose their money because they weren't safe enough with it to keep it secure, same with investments.  I will happily try and help people that are "that stupid" if I can, not to make a specific decision but to help them learn how to make better investment decisions on their own, most of which is a case of asking the right questions..

It would have an impact on me if I'd chanced upon the potentially soundest money of all time and not got myself a bit of exposure as it become the fastest growing asset of all time. But each to their own. If you're truly impartial at either $0 or $1m per BTC then good for you.

I'm saying you're not offering balance as 90% are anti crypto on here anyway and you're not offering anything that hasn't already been said. The same way I'm not. If you don't believe that financial independence, decentralisation, store of wealth, inflation hedge blah blah blah can add up to some value, then you're not going to change your mind now. But other people do believe these things and I believe that's why number goes up. Maybe I'm wrong but I haven't been so far since I discovered it.

£20, i'd give it back as I'm rich now. Jokes.

One other thing I have learned over the years is that there are always opportunities, and it's fine to miss pretty much all of them.  I'd be very rich now if I'd bought Apple shares after the dotcom bubble burst.  But I could also have bought shares in Alta Vista, which I assume (without looking) have either delisted or been acquired.  Do I wish I could go back in time and invest in Apple?  Yes.  Does that translate to a desire to invest in anything in the hope that it becomes the next Apple?  No, I'll instead look very carefully at potential investments, always asking the question "where will the growth come from if this grows?"

As for the balance issue, I disagree, and as I've said before, I have no intention of going anywhere.  Best to leave it at that, with a parting word that I genuinely enjoy reading and participating in these threads, and it is good to see so much enthusiasm for investing even if I fundamentally disagree with the actual investment decisions (pun very much intended!).

Michael121

Money, Markets, Debt, Inflation + the Great Reset. A mathematical proof of troubled times ahead! - YouTube

So just watched this someone linked his channel earlier. He's basically saying m2 goes up equals inflation. If that is true then why has japan not had this sort of inflation and why are we only getting high inflation now.

Personally i think the inflation is due to the supply issues and maybe the money that ended up directly in our hands, some of which is saved or used to pay off debt, that part isn't inflationary, the debt and saved portion? I don't get how Q/E causes inflation either, it don't buy everyday goods, asset inflation maybe but then again some people make a pretty good argument that Q/E isn't inflationary at all. They say its an asset swap, or a duration swap, can't explain it to mind baffling to me. 

Zola.

Michael121 said:

Money, Markets, Debt, Inflation + the Great Reset. A mathematical proof of troubled times ahead! - YouTube

So just watched this someone linked his channel earlier. He's basically saying m2 goes up equals inflation. If that is true then why has japan not had this sort of inflation and why are we only getting high inflation now.

Personally i think the inflation is due to the supply issues and maybe the money that ended up directly in our hands, some of which is saved or used to pay off debt, that part isn't inflationary, the debt and saved portion? I don't get how Q/E causes inflation either, it don't buy everyday goods, asset inflation maybe but then again some people make a pretty good argument that Q/E isn't inflationary at all. They say its an asset swap, or a duration swap, can't explain it to mind baffling to me. 

"Quantitive Easing" is just a deliberately misleading name for "Money printing". Excessive money printing is a direct cause of inflation. There are no free lunches.

If QE had no impact on inflation and what you say was true, why don't the government just print £100,000 for everyone and we can all buy new cars or pay off our homes?  

Michael121

If gov made us debt free why bother working?

Money that ended up directly in our hands must be inflationary unless we payed off debt. For example if gov gave me a mill to pay of debt all that happened was debt was destroyed, looks disinflationary to me. Money saved in a bank account can't be inflationary till its spent, so how can Q/E be inflationary in the real economy if it isn't spent there. Yes lower interest rates could mean more loans but who takes out a loan for a loaf of bread. That assumes banks want to lend more at low interest rates anyway.

Read here if you want to to hear how they think of q/e 

The Macro Compass | Alfonso Peccatiello (Alf) | Substack

Fed Guy - personal views of a former fed trader

Dampedspringadvisors - Macro, Investing, Financial Service


Quote from BOE

"QE lowers the cost of borrowing throughout the economy, including for the government. That’s because one of the ways that QE works is by lowering the bond yield or ‘interest rate’ on UK government bonds."

"But that’s not why we do QE. We do it to keep inflation low and stable and support the economy."  

I have no idea how they come to that conclusion, some say creates inflation, they say keep it low, others say it don't create inflation, read those links if you want to know how they believe inflation is created. Makes more sense to me that what BOE and the FED say. They call it collateral. If its collateral its an iou, if an iou can't be spent how does it create inflation. Is that why its call bank reserves, not deposits. 

All over my head, so il go with Japan had no inflation, prob gonna be the same for us. 

BTW fed guy thinks inflation even tough he mostly agrees with alf, 3rd link is some guy that worked at bridgewater, haven't really looked at his stuff but he spoke to alf on real vision i think and came to similar conclusions. 

HCIMbtw

Michael121 said:

Money, Markets, Debt, Inflation + the Great Reset. A mathematical proof of troubled times ahead! - YouTube

So just watched this someone linked his channel earlier. He's basically saying m2 goes up equals inflation. If that is true then why has japan not had this sort of inflation and why are we only getting high inflation now.

Personally i think the inflation is due to the supply issues and maybe the money that ended up directly in our hands, some of which is saved or used to pay off debt, that part isn't inflationary, the debt and saved portion? I don't get how Q/E causes inflation either, it don't buy everyday goods, asset inflation maybe but then again some people make a pretty good argument that Q/E isn't inflationary at all. They say its an asset swap, or a duration swap, can't explain it to mind baffling to me. 

The only comment I would add is broaden your time scale, sure if we look at things over the past year and recent high levels of inflation supply chain issues are absolutely a huge factor and covid related.. i don't think anybody would refute that

But over periods of decades it is the printing that drives inflation 

If you are kind of interested in understanding some of these macro arguments, this video is a bit of a mind melter.. - https://www.youtube.com/watch?v=5K6JPXlVh-Y

Jeff Booth is an interesting chap, wrote a book called the price of today, i've read it so a lot of the points made in the video are not new and I get my head around them easy enough.. probably not the most accessible content if you are coming to it cold though 

Zola.

The Price of tomorrow is a fantastic book.