by Summary:
I don’t understand people who say they’re going to stop investing because they’ve reached a certain age.
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Mike Norman considers the following as important:
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I don’t understand people who say they’re going to stop investing because they’ve reached a certain age.
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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John Quiggin writes Monday Message Board
| I don’t understand people who say they’re going to stop investing because they’ve reached a certain age. |
Crypto is nonsense. Blockchain is a distributed ledger entry system. When you buy crypto, you a swapping $ for a ledger entry. The ledger entry does not provide a custody of assets or income. Its it just swapping in and out a ledger entries. The notion that 'ledger entry', id an asset let alone a Reserve Asset, shows you what type of mess we getting into. GFC 2.0 coming! Mind you, theres going to be lots of money printing. It goes whoever sells a ledger entry including entry.
Just as a side note: those of us who remember the 80s know the phrase from the junk bond era.."payment in kind". Crypto is based on this. Mining, a fancy word 'ledger transaction validation" occurs due to payment in kind.
What hapoens when BTC etc., have fully paid out all the 'coins' their standard is limited to?? How can transactions be validated? More 'coins' issued to keep payment in kind, with dilutions effects!!! I think we are for a real rocky toad as even the risks such 'payment in kind' are not understood.
Mike, beautiful analysis on the whole Bitcoin situation.
Spend money on domestic infrastructure!! Employ Americans. BTC is popular because get rich schemes are always popular!! The dumb are running the world!
Merry Christmas
Don't ever buy on the IPO Michael
I feel like the consensus is bitcoin was created by US intelligence agencies as an alternative for hot money.
wow congrats on holding coinbase from ipo till now
yeah yeah, and Gary Gensler was a cryptotech professor at MIT and see how quickly he turned around lol
and let's not forget Trump was 100% against btc until like a year ago lol If you're gonna change your mind on crypto, you'd do it for utility tokens, not wallstreet fucktoy that btc has become.
Cryptocurrencies are in the same category as rabbit's foot's and golden calves.
Reaching a certain age can mean you're retiring and don't need to save money or pull in a big income. Most people do stuff they don't like to pay the bills, etc. Bottom line is they don't like it. When circumstances change, dislikes are the first things to get off your back. In my experience it's been a relief to not do stuff I dislike.
Trump trying to make BTC holders rich again
Trump has not agreed to spend dollars for Bitcoin. He has only agreed to hold the Bitcoin they already acquired through actions of law enforcement. It's a substantial amount.
Trump wants to use BTC profits to pay down the National Debt. (Musk's DOGE initiative )
Biden wrote checks to all the stuff you just said mike. Lol
@@cwhiting Congress did. Do you consider the things I mentioned poor investments? I don’t.
@mikeydoggy yea I got all that. Biden ran on that and did it. Example the infrastructure bill.
Now I fully expect a lot of tomfoolery from this trump administration. Look out the clowns he is surrounding himself with in his cabinet.
No matter how much you like Trump. You see the foolishness coming
I'm not against Bitcoin, cryptocurrencies. I don't think the US government should be involved directly with Bitcoin.
❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤👁
Never stop learning!
@mike .. why do you buy stocks at ipo?! Doesn’t most (70-ish%) usually drop significantly before rebounding ( assuming they’re quality companies .. like coin base and pltr? Thanks for the interesting vids 😎
Crypto greater fool con game is comparable to the analogy of game of poker and other gambling games. The only money that can be won in a poker game is the "pot" provided by the players of the card game. The act of playing poker does not generate any money, it simply redistributes to participants according to a game of chance. If the "house" or casino (crypto miners) takes a percentage (mining fee) of the pot on every round of the game played then the size of the pot must decrease over time. This turns the zero-sum game into a negative-sum game which admits a negative expected return. Investing in crypto assets is statistically guaranteed to lose money for almost all market participants because as investments they have no income-cashflows. This differs drastically from productive assets such as stocks, bonds, and real estate. Negative sum games result in a net loss across participants and multiple losers associated with every one winner.