Cryptocurrencies

[Buckeye]

18 minutes ago, Paarslaars said:

Wow he really made you drink the coolaid. This basically means Buffet knows more about investing in anything than anyone on the planet? Come on man, you idolize him more than Ghislaine did with Epstein.  Buffet has been wrong plenty of times in his investments, no need to pretend like he is an infallable god...

 

I would never claim it's stupid not to invest in bitcoin, plenty of other ways to make money. But I strongly doubt nobody has a more comprehensive understanding of it than you do.

 

 

 

 

Red never said anything about Buffett never being wrong. Where did you read that Paar? And then you compare him to Ghislaine Maxwell? WTF?

Edited February 2 by Buckeye

[james22]

1 hour ago, 73 Reds said:

Arrogant?  That's amusing considering the air of superiority demonstrated by some proponents here.  

 

Bitcoin proponents are NO DIFFERENT than the proponents of every other investment on this board.

 

It's only the naysayers that are different.

 

1 hour ago, 73 Reds said:

There is nothing more arrogant than to suggest you (not you personally) know more about investing (in anything!) than Buffett. 

 

You don't believe Buffett himself could give you an understanding of crypto more comprehensive than your own.

 

1 hour ago, 73 Reds said:

BTC is mere speculation.

 

Growth investing is mere speculation?

 

Growth investing is about identifying companies building transformational products early in a massive growth curve. Anything that doesn’t fit this definition is some form of value investing.

 

https://deepwatermgmt.com/philosophy/mental-models-for-growth-investing/

 

Every truly innovative high-tech product starts out as a fad-something with no known market value or purpose but with “great properties” that generate a lot of enthusiasm within an “in crowd. That’s the early market.

 

Then comes a period during which the rest of the world watches to see if anything can be made of this; that is the chasm.

 

If in fact, something does come out of it-if a value proposition is discovered that can predictably be delivered to a targetable set of customers at a reasonable price-then a new mainstream market forms, typically with a rapidity that allows its initial leaders to become very, very successful.

– Geoffrey Moore, Crossing the Chasm

 

1 hour ago, 73 Reds said:

Congrats to anyone who has made money.

 

Thanks!

 

1 hour ago, 73 Reds said:

No one I know can give me an understanding of crypto more comprehensive than my own.

 

Sounds a little arrogant . . .

 

But maybe you could share your understanding of the bitcoin adoption curve and why you believe it won't cross the chasm?

 

Or maybe you could criticize Fidelity's, for example?

 

Timmer’s updated models reinforce Bitcoin’s position as a maturing financial asset. By combining historical S-curves, Metcalfe’s Law, and macroeconomic factors, he offers a comprehensive view of Bitcoin’s unique blend of network utility and monetary features. His work highlights the importance of adoption in driving Bitcoin’s value, while also demonstrating how real-world monetary conditions could shape its future.

 

https://bitcoinmagazine.com/markets/fidelity-investments-director-shares-bitcoins-adoption-and-valuation-models

 

 

[Paarslaars]

1 hour ago, Buckeye said:

Red never said anything about Buffett never being wrong. Where did you read that Paar? And then you compare him to Ghislaine Maxwell? WTF?

In the quote I posted? English isn't my native language but my comprehensive reading is sufficient to properly understand his statement... He said it would be arrogant for someone to assume they are better than Buffet at investing in anything. That means he believes Buffet to be superior irregardless of the subject... That is ridiculous. And he has made the reference countless of times that Buffet thinks BTC is worthless... I am simply pointing out that even the great Buffet has been wrong plenty of times where others were right. I believe this is one of those times.

 

The comment about Maxwell was a reference to his blind devotion to Buffet, not calling him a child trafficker or anything.

[james22]

1 minute ago, Paarslaars said:

English isn't my native language . . .

 

No one would ever know it from your writing.

 

What is, Paar?

[73 Reds]

1 hour ago, Paarslaars said:

Wow he really made you drink the coolaid. This basically means Buffet knows more about investing in anything than anyone on the planet? Come on man, you idolize him more than Ghislaine did with Epstein.  Buffet has been wrong plenty of times in his investments, no need to pretend like he is an infallable god...

 

I would never claim it's stupid not to invest in bitcoin, plenty of other ways to make money. But I strongly doubt nobody has a more comprehensive understanding of it than you do.

 

 

 

 

That is not what I wrote.  Buffett has been categorically correct about every investment class he has ever addressed.  And yes, Buffett has made me a lot of money (starting from my first share acquired for less than $1k, including commissions).   

Edited February 2 by 73 Reds
spelling

[james22]

13 minutes ago, 73 Reds said:

Buffett has been categorically correct about every investment class he has ever addressed.

 

You never disappoint, Red.

 

Set aside Tech, by what measure has he been correct about BTC?

[73 Reds]

@James do you know what the difference is between those who follow Buffett and BTC proponents?  Answer:  Those who follow Buffett have never lost any money and while he is at the helm, never will.  If these threads are preserved by Sanjeev, it will be fun to look back on some of the comments made today in coming years and decades.  

Edited February 2 by 73 Reds
spelling

[TwoCitiesCapital]

7 minutes ago, james22 said:

Set aside Tech, by what measure has he been correct about BTC?

 

So far, every naysayer about Bitcoin has been wrong when judged by price. They're all hoping that the next 10-years will, for some unexplained reason, be different than the last 15 in terms of its adoption/price trends. 

 

So the though goes "Buffett WILL eventually be right about Bitcoin....even though he's been wrong for more than a decade". 

[james22]

Just now, TwoCitiesCapital said:

So the though goes "Buffett WILL eventually be right about Bitcoin....even though he's been wrong for more than a decade". 

 

Sure, but not exactly "categorical."

[Buckeye]

1 hour ago, james22 said:

 

Bitcoin proponents are NO DIFFERENT than the proponents of every other investment on this board.

 

If you believe this statement is true then I’m afraid you are sadly mistaken.  And I can now better understand your devotion to the BTC. 

[james22]

8 minutes ago, 73 Reds said:

@James do you know what the difference is between those who follow Buffett and BTC proponents?  Answer:  Those who follow Buffett have never lost any money

 

I've not lost money in MSTR.

 

In fact, I've made more in one year than over fifteen in BRK.

 

8 minutes ago, 73 Reds said:

and while he is at the helm, never will.

 

BRK is a Ponzi!

[73 Reds]

7 minutes ago, TwoCitiesCapital said:

 

So far, every naysayer about Bitcoin has been wrong when judged by price. They're all hoping that the next 10-years will, for some unexplained reason, be different than the last 15 in terms of its adoption/price trends. 

 

So the though goes "Buffett WILL eventually be right about Bitcoin....even though he's been wrong for more than a decade". 

Who says he's been wrong?  Mr. Market?  if so he's been equally wrong on the outcome of a lot of Nebraska football games.  His measure of right vs. wrong is not measured over the course of a few years or even decades.  Social media and technology have a lot to do with the length of time a mania can take to fully play out.  

[james22]

1 minute ago, Buckeye said:

If you believe this statement is true then I’m afraid you are sadly mistaken.  And I can now better understand your devotion to the BTC. 

 

In what way do you imagine BTC proponents are different from any other?

 

[james22]

3 minutes ago, 73 Reds said:

Who says he's been wrong?  Mr. Market?  if so he's been equally wrong on the outcome of a lot of Nebraska football games.  His measure of right vs. wrong is not measured over the course of a few years or even decades.  Social media and technology have a lot to do with the length of time a mania can take to fully play out.  

 

BTC gains in one hand and predictions in the other.

 

One's filled up first.

[Buckeye]

29 minutes ago, james22 said:

In fact, I've made more in one year than over fifteen in BRK. 

What’s the math start to look like when you account for the 1000’s of hours you’ve spent shilling for BTC? Judging from your post frequency, it looking like a full time job. 

Edited February 2 by Buckeye

[73 Reds]

Just now, james22 said:

 

BTC gains in one hand and predictions in the other.

 

One's filled up first.

They are both predictions.  You have entirely no control over either outcome and the only thing on which to base your support of BTC is additional speculators who/when they reverse course will lead to your demise.  When has any large-scale speculation ended well?  

[TwoCitiesCapital]

12 minutes ago, 73 Reds said:

Who says he's been wrong?  Mr. Market?  if so he's been equally wrong on the outcome of a lot of Nebraska football games.  His measure of right vs. wrong is not measured over the course of a few years or even decades.  

 

If you've been wrong on direction for over a decade, at some point you should start asking what you've missed instead of standing staunchly in the wind. 

 

If Nebraska was undefeated for 15 years, eventually  you'd do well to stop talking shit and start betting on them. 

[Paarslaars]

1 hour ago, james22 said:

 

No one would ever know it from your writing.

 

What is, Paar?

Dutch. My nickname actually means purple (paars) boot (laars). Long story...

Edited February 2 by Paarslaars

[Buckeye]

7 minutes ago, james22 said:

 

In what way do you imagine BTC proponents are different from any other?

 

From what I’ve seen thus far, the ONLY THING that makes BTC go up in price is increased adoption. Getting more people to buy into BTC is central to your thesis.

 

As I Berkshire shareholder I don’t need  more people to buy into Berkshire, for my thesis to pan out.  In fact, I would prefer LESS PEOPLE to buy Berkshire, which would give Berkshire a better opportunity to buy itself. 
 

Can’t say that with BTC can you? See the difference? 

[73 Reds]

Just now, TwoCitiesCapital said:

 

If you've been wrong on direction for over a decade, at some point you should start asking what you've missed instead of standing staunchly in the wind. 

 

If Nebraska was undefeated for 15 years, eventually  you'd do well to stop talking shit and start betting on them. 

What determines direction?  What determines value?   He's been very clear on the distinction.  Gamblers often go on long winning streaks.  I don't see him (or anyone) endorsing that as a long term winning strategy.

[Paarslaars]

8 minutes ago, Buckeye said:

From what I’ve seen thus far, the ONLY THING that makes BTC go up in price is increased adoption. Getting more people to buy into BTC is central to your thesis.

 

As I Berkshire shareholder I don’t need  more people to buy into Berkshire, for my thesis to pan out.  In fact, I would prefer LESS PEOPLE to buy Berkshire, which would give Berkshire a better opportunity to buy itself. 
 

Can’t say that with BTC can you? See the difference? 

We have literally had this exact discussion on here already couple of months back I believe.

 

Berkshire buying back shares, is someone buying into it. BTC would go up as well if a large holder buys more BTC...

[Buckeye]

1 hour ago, Paarslaars said:

In the quote I posted? English isn't my native language but my comprehensive reading is sufficient to properly understand his statement... He said it would be arrogant for someone to assume they are better than Buffet at investing in anything. That means he believes Buffet to be superior irregardless of the subject... That is ridiculous. And he has made the reference countless of times that Buffet thinks BTC is worthless... I am simply pointing out that even the great Buffet has been wrong plenty of times where others were right. I believe this is one of those times.

 

The comment about Maxwell was a reference to his blind devotion to Buffet, not calling him a child trafficker or anything.

Well Paar, in my opinion your English is great! But your choice of metaphors could use some work. Thanks for the reply. 

[Paarslaars]

I'll work on it 

[wachtwoord]

15 minutes ago, Paarslaars said:

Dutch. My nickname actually means purple (paars) boot (laars). Long story...

 

But with a, presumsbly purposeful, grammatically error, or it would be paarse laars. I always assumed it was a wordplay on the easterbunny (paashaas in Dutch). Care to tell?

[Buckeye]

4 hours ago, Paarslaars said:

We have literally had this exact discussion on here already couple of months back I believe.

 

Berkshire buying back shares, is someone buying into it. BTC would go up as well if a large holder buys more BTC...

Oh yea, that’s right! Apparently you and James don’t know the difference between outside capital and internal capital.  It also helps better explain your current devotion to BTC.

Edited February 2 by Buckeye