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Hard to ignore that this is going downhill for Russia ,even for those living in Moscow. They are importing fuel from India: https://youtu.be/WvgIQV45tEo?is=5lddlfyPJsnwhU9o

The metric that I'd be really looking at for BTC is input cost(electricity, hardware, etc) per bitcoin/price of a bitcoin. When the input cost is greater than cost to mine(aka the incentive to keep the "most secure and powerful decentralized computer network" running), that network will have the incentive to now turn itself off. That means entities with large amounts of resources (e.g. North Korea, NSA, CIA) can control that network to siphon the BTC off inconspicuously while running trick play on their propaganda machines to mitigate any appearance of abnormalities until it can not longer be hidden. When that happens, BTC will be as worthless as any other cryptocurrency. The trends in AI compete with BTC in very similar type of resources, and if AI really gains widespread adoption, it may be the thing that actually kills off BTC. If I were holding a lot of BTC, I'd put a healthy dose of resources into AI just to hedge.

You keep kidding yourself Richard - and keep telling me that your armed Antifa rioters and shooters were exercising their rights to "Free Speech". I can't help it you are delusional.

Since we discussed authoritarism here is a specific issue, since Antifa was brought up. Antifa literally Means Anti fascist which to my knowledge not illegal. It’s not an “organization” either. There is no Antifa leadership. It’s a loose term for left organization and typically small groups that have little if any coordination that range from those who do throw Molotov cocktails to college student groups who demonstrate on the college grounds. How this is designated a terrorist organizations shows how far we have drifted off to authoritarian side here. Declaring an organization a terrorist organization based on nebulous associations is done by intent to scare people and now creates the perception of an enemy within - a very old autocratic scare tactic. Say what you will about free speech in Europe, but I don’t think this would be possible. https://www.whitehouse.gov/presidential-actions/2025/09/designating-antifa-as-a-domestic-terrorist-organization/

lol , I know, and all those policies have been bad for Europe and good for everyone else.

Elites at the World "Economic" Forum have been saying tariffs are always bad while also firmly embracing "Green" ideology. China seized the advantage of their foolishness and European industry paid the price.

Berlingske - Commentary column - Samuel Rachlin [July th4 2026] : Putin seeks way out, but is entangled in a war that keeps his utopia about Russian greatness and triumph alive [subscription protected] - - - o 0 o - - - Attached : 1. Article translated to English language by the use of Google Translate, 2. Article in Danish language, source for 1. - - - o 0 o - - - Note : Translation is far from perfect, I have only fixed the header here in this post. - - - o 0 o - - - The whole situation is absolutely depressing to think about - I personally have a hard time to see a feasible alternative to just continuing the warfare activities, with continued massive losses of human lives. *sigh* Berlingske - Samuel Rachlin - Putin søger en udvej men er spundet ind i en krig der holder liv i hans utopi om Ruslands storhed og triumf - Opinion - English - 20260705.pdf Berlingske - Samuel Rachlin - Putin søger en udvej men er spundet ind i en krig der holder liv i hans utopi om Ruslands storhed og triumf - Opinion - Danish - 20260705.pdf

Only include dvidend and interest, less withdrawals to live on, as you are measuring the change in unleveraged capital. Use time weighted return. To double capital in 10 years you need around a 10 yr CAGR of 10% (72/10 + 2.8% inflation). For an RRSP/RRIF, substitute the higher of the minimum withdrawal required, or the amount drawn to live on. SD

they need to apply tariffs to protect their industry

Probably, about politics, I am the only on this site thinking that right, left and center are the same thing... I will not be very popular but basically this is how I see politics...

People have given you countless specifics for the last year and a half. And longer, really. The fact that you are deciding to ignore all of them is on you, not them. It isn't a good look, and is the primary thing that pushes me left--I don't want to be associated with the side that is most eager to pretend reality isn't real. The left doesn't actually understand how the world works, but is reasonably close to intellectually honest when talking politics. The right prides itself of being intellectually dishonest, as if reality doesn't matter.

https://www.wsj.com/economy/china-is-devastating-the-last-stronghold-of-german-industry-c7a98514 Germans deserve better leaders: ones that will actually stand up for them instead of being there to merely help empower elites of Europe. Remember--those elites at Davos kept saying that "Free Trade is Always Good", even with an abuser like China...

https://www.nytimes.com/2026/07/04/us/politics/trump-coin-crypto-investors-loss.html The number one use case for crypto continues to be grifting & scamming

I am not so sure about this. Markel breaks down their equity returns pretty clearly, the below is from 2025. The 20 year return is pretty good but based on my calculations Fairfax has done better, ~15% CAGR including the negative impact of hedging and positive impact of CDS and TRS. I include all those elements because they are all active decisions taken which either add or detract from alpha.

Interactive Brokers gives me time weighted rate of return - all time, YTD, etc - that I can compare vs indexes and I withdraw frequently

All the best in your future endeavors! you have been great here!!!

Sadly 3:0 to Morocco, as Canada essentially just ran out of gas/expertise. A great run for both Canada, and the remaining African teams. One has to think that from here on out ... there are going to be a lot more trades with the elite farm club teams of Europe and South America, that raises everyone's game. A future First Nations/Inuit Renaldo would be quite something! SD

Antifa is a designated terrorist organization here in the United States - so it's no joke - Mafia or organized crime, but dedicated to overthrowing the US government through violent means. You're right about the left, but incorrect on the right in the USA. Like my buddy CW, I never hear definitions of "authoritarianism" which gets thrown around here on CoBF every day. The term always gets thrown around - but never any specifics. The USA is currently very polarized, but that's what happens when you are at an impasse - with one group leaning hard toward socialism/communism and the other group fighting to keep our traditional government from changing. The politics is very ugly.

To make it clear, I'm fully against fascism. I don't know WTF antifa actually is, because it seems like a Schrodinger's word. Like, say, "feminism" or "fascism" or "liberalism", the meaning of antifa seems to change based on the convenience of whoever's using it. I think politically, theoretically, you and are on the same side of centre--I'm basically a classical liberal. As such, I believe in things like freedom of speech, civil liberties, free markets, and low levels of regulation. I think the government should interfere with free markets largely in areas where there's good evidence that the benefits significantly outweigh the downside (universal healthcare with private and public components and anti-trust are the two that immediately come to mind for me.) Right now, the challenge for me is that in Canada, the left wing has shifted us way left, far from sensible classical liberal policies,and I get the sense that the same is true of Europe. The USA is doing the exact same thing from the opposite side. All of these are toxic trends toward authoritarianism, just from different sides. That's my point that polarization is terrible--it allows both sides to push us toward authoritarianism by saying that they're doing it to fight back against the evil people on the other side.

I look at them both ways but only time weighted should be compared to the index directly. My money weighted returns are quite a bit higher than the time weighted but I have to present the TWR on other peoples capital

As he did. Morocco - Canada 2:0

Lower those air conditioners!

Somehow Richard, I never figured you for an Antifa supporter that would tolerate the attempted murder of US officials. You're always full of surprises....better luck next time. You got duped by Yahoo News again - try the Judicial sources next time - and you won't be so gullible and naive. https://www.justice.gov/usao-ndtx/pr/antifa-cell-members-convicted-prairieland-ice-detention-center-shooting Nine North Texas Antifa Cell operatives were convicted today by a federal jury in Fort Worth, Texas for their roles in rioting, using weapons and explosives, providing material support to terrorists, obstruction, and attempted murder of an Alvarado police officer and unarmed correctional officers at the Prairieland ICE Detention Center on July 4, 2025. “These guilty verdicts and convictions rightly reflect the vicious, armed attack that these Antifa cell members planned and executed against law enforcement and detention center officers on the night of July 4 last year,” said U.S. Attorney Ryan Raybould. “Their terrorist acts, attempted murder, vandalism, and explosives launched at a detention facility were a far cry from some peaceful protest or First Amendment expression. Sixteen people have been brought to justice for these violent acts and their attempts to conceal them. We will continue in this mission to hold others accountable who perpetrate such violence and fund these ANTIFA groups in the Northern District of Texas.” Trial testimony reflected that, late at night on July 4, at least eleven of the defendants rioted and attacked the Prairieland Detention Center in Alvarado, Texas, which the U.S. Department of Homeland Security was using to house illegal aliens awaiting deportation. Evidence introduced at trial revealed that the defendants brought eleven firearms, body armor, and eleven military-grade first aid kits with tourniquets and other items for gunshot wounds to the scene of the attack. Many of these items were introduced by the government as exhibits.

Forget delay--if a majority of miners collaborate, the game is completely over. They can simply take all your bitcoin. Geographical jurisdiction isn't mutually exclusive with owning bitcoin. If you're concerned, you're allowed both a second passport and own bitcoin.

It's as I said--you support obvious political repression, abandon your support of free speech and the right to bear arms, because it's your side doing the persecuting. Everyone sees it. If you lived in North Korea, you'd be strenuously claiming Kim Jong Il had a round of golf with 11 holes-in-one because there were many witnesses.