Luke

I remember my "your predictions for 2024 SP 500 thread". I ticked 5% Returns btw! xD

When Muddy came in, didn't it fall to 1200 CAD for a short period? I saw many guys here loading up back then...great return on those shares so far...

Well said.

Ok guys, do you recommend me to invest into bitcoin now? Should i sell Fairfax for it? Please explain your recommendation, thank you.

This reminds me of peak GME 2021 btw! And yes, there were many who made a lot of cash. The ones who lost it weren't that loud

All you need is a bunch of irrational buyers who throw their hard-earned cash against this without knowing the outcome or being able to predict it to a certain degree.

Pump it.

I don't understand the entire text you sent and what you mean by it. Could you just write what you mean instead of analogies on top of analogies where readers have to interpret some meaning into this?

Dont nuke the thread, the board should be open to discuss this and Crypto apparently is the no.1 trump trade right now looking at coinmarketcap and all these coins doing 100% in a couple of weeks

I have laid out my argument and strongly disagree: If even highly intelligent and good investors like Li Lu only respond to bitcoin by saying "i dont understand it well enough" then that is problematic because it can give unknowing citizens the impression that the ones who own it and spread the news are very smart and this is a good thing to buy. THAT is not constructive for the investment world and dangerous too. Munger was one of the few who said it out loud and well, he deserves respect for it. Its another aspect of crypto that is noteworthy: The hesitancy of outsiders to say something against it while the price keeps rising. The price rising acts as a reinforcement mechanism for already existing buyers to buy more and at the same time discredit the critics and the party forever continues UNTIL?!

But also: Based on the attention this topic attracts and the attention this thread gives, crypto trade/trump trade certainly is full on!! But its also this: a trade. Not an investment but a trade! Good luck everyone and congrats to @james22 on making a shitton of cash in such a short amount of time. Make sure you know what you own and that you should sell the turds as long as someone is willing to give you that much for it

No. I never said the days of state-capitalism are over. State-capitalism is the system that brought the world the prosperity it experiences and labor unions did their part too. Free markets lead to monopolization, landlorddization and parastic rent extracters that ruin growth and the overall economy. Something i have just read: "A land reform law, inspired by the same one that the Americans were enacting in occupied Japan, removed the landlord class (similar to what happened in Japan), and created a higher number of peasants who, with the help of the state, increased the agricultural output dramatically. This was the first excedent accumulation source. After retreating to Taiwan, Chiang learned from his mistakes and failures in the mainland and blamed them for failing to pursue Sun Yat-sen's ideals of Tridemism and welfarism. Chiang's land reform more than doubled the land ownership of Taiwanese farmers. It removed the rent burdens on them, with former land owners using the government compensation to become the new capitalist class. He promoted a mixed economy of state and private ownership with economic planning." From the taiwan miracle economic growth. So landlords are not as useful as free marketeers would like you to believe and totally free markets with bitcoin as a currency will collapse.

Anyways, discussing why crypto is not logical with Bitcoin holders is the same as discussing why Jehovah Witnesses are in the wrong or why Scientologists are. The group think is too strong, the incentives too strong, its too complex of a topic to pin arguments down etc. We should pass on and accept it for what it is. The last few pages show the conflict and arguments very well.

@John Hjorth By saying "its on me not you" that you dont understand bitcoin is unfortunately something many people say who do not invest in bitcoin and i think its very dangerous to say what you say. It gives possible buyers the delusion that bitcoin buyers are more intelligent than they are because its hard to understand (it is not). Its not hard to understand, its bullshit. Thats what it is. Speak out when somebody speaks bullshit and dont say "i dont understand it so thats my problem"

Exactly. Its also very easy to engage in this bitcoin promotion because you dont need any knowledge for it despite the mythological fictional language that is easily adaptable and moldable into anything that suits the purpose of attracting new buyers. You are critical of bitcoin? "jeez guys, we are saying the same thing"!!! Whatever you say, the logical conclusion is to buy more bitcoin and if you want specific answers on questions they can not answer you will only receive further fiction and distraction. It is what it is and I dont know when this will stop. If you mean this then you have no idea about how economics and currencies work and why those cases will never happen. You CAN NOT run state-capitalism with a currency that is limited in supply and with 0 control on that currency. I have already given multiple reasons why, you are using science-fiction language that sounds good to the average joe investor but from an economist perspective bitcoin is terrible to adopt as a currency for any national economy.