rkbabang

A lot of Christmas Bitcoin buying.

Merry Christmas everyone

XRP certainly isn't a cryptocurrency, it sounds like they are trying to make the case that XRP is their product, not a security. That seems like a reasonable claim. "Ripple has pushed back aggressively for years on the notion that XRP is a security. The company notes it does not have discretion to tap the reserve funds as it wishes, and that XRP has become increasingly decentralized as banks and other merchants use it as a bridge currency in cross-border transactions. According to Garlinghouse, the SEC regarding XRP as a security controlled by Ripple is akin to viewing oil as a security controlled by Exxon."

Even if he just broke even or even operated at a loss he'd be able to issue stock and raise billions.

Price is subjective and completely a function of supply and demand, not cost or labor. Marx had the same theory and was wrong. You don't think the difference arbitrages away over time? No. Gold has been around as long as civilization (probably long before) and it hasn't yet. How much time are you talking? To expand on this a little. Price is subjective. Read that again. Price is subjective. For everything. All commodities, BTC, stocks, goods, services, metals, gems, labor. Cost comes into play when you are trying to figure out whether or not it is worth producing it. If your cost to produce it is more than you could get for it then it probably isn't a good idea to produce more. If your cost is less than you can get it might be a good idea to produce more. But your cost of production has no effect on value. Producing more can effect how people value it because it increases the supply, but no one cares how much it costs to produce (other than the producer himself).

Price is subjective and completely a function of supply and demand, not cost or labor. Marx had the same theory and was wrong. You don't think the difference arbitrages away over time? No. Gold has been around as long as civilization (probably long before) and it hasn't yet. How much time are you talking?

Price is subjective and completely a function of supply and demand, not cost or labor. Marx had the same theory and was wrong.

The Bitcoin store of value theory is just a theory at this point. Relatively speaking, very few people own it and almost no institutions do yet. There is a huge risk that the theory is wrong. Also BTC is very concentrated in a relatively few accounts (so called "whales"). If the BTC store of value theory plays out the way I think it will, it will be a bumpy ride. Institutions trying to get in driving the price up, the occasional whale cashing out driving the price down. Quite times like most of 2020 where it drifts. Eventually this will all settle down and be more stable, but not anytime soon. It is the largest asymmetric opportunity that I know of. Maybe a once in a century type thing.

Made this very point, but about 30 seconds after you ;D went ahead and deleted the redundant comment I'd also add, in addition to making the bet payable to either of you in the event of loss, it's probably not the money that he's making the bet for. If I'm in his shoes, and think the US is going to collapse into nothingness and bet a friend $100 that it's going to happen - it's worth it to me to accept that worthless $100 in 15-years just to say that I was right and that he knows it. Sometimes, it's not about the monetary reward. Yep. And even if your friend is 100% right and the US dollar does way better than you expect, it will only be $85-$90 2020 equivalent dollars that it will cost you at the most. An easy bet to make.

Would you even have taken the bet if you had to pay a certain amount in BTC? You'd be foolish to. If you win, that amount of BTC will be worth almost nothing, if you lose that amount of BTC could be so enormous you could never possibly pay unless you buy it now and hold it so that you would have it in case you lost. And you probably don't want to buy that much BTC if you don't think it will be worth anything in 15 years. The US dollar will not change as much as BTC has the potential to. Maybe inflation cuts the value of the dollar by 25% or by half, maybe 80% in the worst case or in the best case 10-15%. It is certain that the dollar will be worth less in 15 years than it is today, so both of you will likely be able to pay up if you lose.

Hmm, I don't know if you've ever visited a stock discussion board, but people tend to talk about investments more when they go way up or way down. I've been buying through some of the ups and all of the downs since 2014 or so even if I haven't posted here every time.

Yes. Transaction fees can be charged to compensate miners. It will likely be less lucrative than the bitcoin awards, but maybe more like utility type returns. Definitely will be cheaper than comparable swipe fees on credit cards to support their networks and etc. Also, unless there are some serious advancements in life extension technologies, most of us will not be around to see it.

Long term value investor cites short term price fluctuations as indication of long term thesis success/failure I just poted numbers. I didn't make any comments. You did that. I just assumed you were letting the board know that crypto was on sale. Bitcoin +600% since this post. Doesn't produce cashflow though so cite some Munger quote and avoid independent thinking. Correction: It doesn't produce anything I used to think gold was valuable too until I heard that when you fondle the cube it will not respond.

You don't want anyone to have an accident trying to get to their computer.

I recently re-signed up for Showtime to watch the last season of Shameless (I'm assuming everyone has seen this, if not go to Netflix and binge-watch it from S1E1 immediately). I also started watching a show called "Your Honor" that 2 episodes in has got me hooked.

The electric co-op that provides electricity to my airbnb in central NH is starting to talk about doing this. Although they are talking about starting in rural areas that do not have broadband at all presently and eventually offering it to all customers over a number of years. I have 250Mbps service at my lake-house already through the cable company, but that is my only option. The way I look at it is if NHEC eventually offers this to me it will double my options. Cable companies already have monopolies in most areas, so competition is a good thing. https://www.nhec.com/broadband/

Some enjoy fondling the cube and others enjoy fondling their bits. I'm a bit-man myself.

Had someone said that when Walmart was only 14 years old they would have been 100% correct.

Yes Ripple (the company) isn't a 0, but there is no easy way to invest in it right now. XRP might be a 0, I don't know why it has the value it does. I think many people are excited about Ripple (the company) and so are investing in XRP (the shitcoin), but that doesn't make sense to me.

Ripple labs controls XRP and owns most of it, so it isn't really a public blockchain cryptocurrency, it is just a shitcoin some people are excited about for some reason that I can't fathom. I'd be interested in hearing the otherside of this as well. I don't understand the bull case at all.

He's single handedly suppressed the price of Bitcoin, no one wants to buy it and cause the next rally, because everyone wants to see this. It will shoot up to a Million in January.

I guess no one here remembers the late 60‘s Hippie generation. The Hippies were far more radical and socialist than the Millenials are now and look at where we are. Someones always trying to take my stuff. "All Complex Ecosystems Have Parasites" --Cory Doctorow

Continuing to raise cash. Sold 25% of TRUP to get my original investment out.

I was referencing the “simple investment” piece more so, but I have a hard time believing you could describe bitcoin to a ten year old in one sentence. Supply and demand imbalance doesn’t really cut it for me. Nobody can seem to tell me why people demand bitcoin other than that it’s going up. It’s not a currency. Currencies do not fluctuate like this. And it’s not a store of value either - those don’t fluctuate wildly either, they store value. If it “might” become a currency or store of value that is speculating. How's this: It will become a store of value.