Vish_ram Posted 9 hours ago Share Posted 9 hours ago 8 hours ago, Buckeye said: Ok Vish...welcome back! So in your example above Bitcoin which has been around for 15 years is just like Gold which has been around for 5000 years (except for the difference of 4985 years). And you didn't mention that Gold does have some utility, but we won't go down that path, beacuse I am sure once James finds another link we will learn that Bitcoin can now be used to fill cavities. Or, are you comparing the Bitcoin and Gold to say that in 4985 years from now everyone will realize Bitcoin's true, and they will still talk about poorest man who ever lived...Old Buckeye from 2024. I look forward to hearing your reply. Thank you. Thanks for the reply. Decades ago I had some interest in anthropology. Sometimes it took early mankind 300-400 years to make small improvements in stone tools. That was the pace of technological revolution. We live in an internet age. Newton said I can see farther because I stand on the shoulders of giants. Similarly Bitcoin stands on the shoulder of internet, connected devices, network etc. If Gold took few 100 years to be embraced by a kingdom, BTC took hardly a decade or two. Very astute observation about BTC used to fill cavities. Yes , we can send a few satoshis to the dentist to fill the cavity in a hyperbitcoinzation world. Link to comment Share on other sites More sharing options...
John Hjorth Posted 9 hours ago Share Posted 9 hours ago (edited) It's OK, @Buckeye, Short term sentiment driven content here on CoBF. [So much for Germany here, with their automakers and all related to that, I'll give you that.] Now you please try to think about an universal future, without the goods and services of : ABB, Siemens and [French] Schneider? [All listed, no talk, really, about them here on CoBF, except @dealraker some time ago mentioning buying Siemens, according to my personal observations here on CoBF.] Edited 9 hours ago by John Hjorth Link to comment Share on other sites More sharing options...
Vish_ram Posted 9 hours ago Share Posted 9 hours ago (edited) Almost everyone is against bitcoin before they are for it. I came to know about it 10 years ago when it was around $240. In my MBA class there was a guy from an exchange who explained it for an hour. I was incredulous. First I thought Govt will shut it down as it threatens dollar. I didn’t bother to spend time as I had such a negative reaction having been trained in value investing. I also thought that there will be others competing with it and it’ll be a passing fad. When Blackrock got involved I got in seriously. I read a few books, spent hours listening to podcasts etc. I still think all alt-coins are shit. Right now BTC has gained so much traction that it has become a self-fulfilling prophesy. I love to see skeptics. It shows that we are early. I live in Atlanta and visited Coca Cola museum few times. when it was introduced, there were many copy cats. Hundreds of them. Eventually they were beaten and driven out. I see the parallel in BTC too. Edited 8 hours ago by Vish_ram Link to comment Share on other sites More sharing options...
Xerxes Posted 8 hours ago Share Posted 8 hours ago (edited) 1 hour ago, Vish_ram said: I still remember the Stone Age of bitcoin, like it was yesterday. It was circa 2013 I think, the topic was bank run in Cyprus, oligarch money and a spike on Bitcoin. Edited 7 hours ago by Xerxes Link to comment Share on other sites More sharing options...
benchmark Posted 8 hours ago Share Posted 8 hours ago 3 minutes ago, Vish_ram said: Almost everyone is against bitcoin before they are for it. I came to know about it 10 years ago when it was around $240. In my MBA class there was a guy from an exchange who explained it for an hour. I was incredulous. First I thought Govt will shut it down as it threatens dollar. I didn’t bother to spend time as I had such a negative reaction having been trained in value investing. I also thought that there will be others competing with it and it’ll be a passing fad. When Blackrock got involved I got in seriously. I read a few books, spent hours listening to podcasts etc. I still think all alt-coins are shit. Right now BTC has gained so much traction that it has become a self-fulfilling prophesy. I love to see skeptics. It shows that we are early. @Vish_ram In your Mar's example, given that limited supply of Mar's coin, how does its economy grow? how is it measured then? the current capitalist system works with the underline assumption that one can 'create/print' money, afaik. Link to comment Share on other sites More sharing options...
hasilp89 Posted 8 hours ago Share Posted 8 hours ago 14 minutes ago, Xerxes said: From few years ago … hope he kept it for his sake. not that any of it makes sense. lol. Lot of funny money being made these days. i know most ppl think its a joke but Vivek ran on cutting the bureaucracy (recent lex Friedman interview goes through his thought process). While most of gvt budget is ss, Medicare/medicaid I imagine there is plenty to cut. Musk/vivek not necessarily beholden to any special interest. Link to comment Share on other sites More sharing options...
Vish_ram Posted 8 hours ago Share Posted 8 hours ago (edited) 12 minutes ago, benchmark said: @Vish_ram In your Mar's example, given that limited supply of Mar's coin, how does its economy grow? how is it measured then? the current capitalist system works with the underline assumption that one can 'create/print' money, afaik. money supply × velocity of money = price level × real GDP Assume in mars I can have increasing velocity that is frictionless as supply is fixed (mars token coin can have matoshi, 1 MTC = 100Million matoshi) As economy grows, the velocity goes up. (Even on Earth you can see it now, velocity is going up as supply reduces). https://fred.stlouisfed.org/series/M2V when you’ve GDP growth, basically value of money goes up. —————————————- in the current capitalistic system, under ideal circumstances you should have increasing value of money as productivity goes up. It gets usurped by money printing (inflation) Edited 8 hours ago by Vish_ram Link to comment Share on other sites More sharing options...
Vish_ram Posted 8 hours ago Share Posted 8 hours ago In a society that has a fixed money supply (coin divisible to nth degree), if you have a growing population, GDP, productivity then value of money keeps going up. Savers need to own just that money and it keeps appreciating in value (in terms of what can be bought). the increasing innovation, productivity will make money valuable. There’s no sinister Govt/Fed complex to usurp it. How do we make current system perfect. Imagine living in BTC world. 1) Owners of BTC capital lend it out for interest in BTC and use collateral (that can be converted to BTC) 2) the biz creates products/services sells them in BTC/satoshi and then pays back debt 3) if defaulted, then collateral is confiscated 4) Govt earns BTC from taxation and lives within the means. If it wants to borrow then it uses land/assets as collateral Link to comment Share on other sites More sharing options...
dealraker Posted 8 hours ago Share Posted 8 hours ago 53 minutes ago, John Hjorth said: It's OK, @Buckeye, Short term sentiment driven content here on CoBF. [So much for Germany here, with their automakers and all related to that, I'll give you that.] Now you please try to think about an universal future, without the goods and services of : ABB, Siemens and [French] Schneider? [All listed, no talk, really, about them here on CoBF, except @dealraker some time ago mentioning buying Siemens, according to my personal observations here on CoBF.] Bought Siemens on 7/7/22 ar $49 and something, some type of bad news plummet on the stock. They just bought a large tract from our industrial land company to build passenger train cars in Lexington NC. Already well under construction. Link to comment Share on other sites More sharing options...
Buckeye Posted 7 hours ago Share Posted 7 hours ago (edited) 1 hour ago, Vish_ram said: Thanks for the reply. Decades ago I had some interest in anthropology. Sometimes it took early mankind 300-400 years to make small improvements in stone tools. That was the pace of technological revolution. We live in an internet age. Newton said I can see farther because I stand on the shoulders of giants. Similarly Bitcoin stands on the shoulder of internet, connected devices, network etc. If Gold took few 100 years to be embraced by a kingdom, BTC took hardly a decade or two. Very astute observation about BTC used to fill cavities. Yes , we can send a few satoshis to the dentist to fill the cavity in a hyperbitcoinzation world. Thanks for your reply Vish. I now better understand your point from earlier. Not sure I completely agree with it (yet) but that’s on me. Also, you’ve reminded me that I need to go to the dentist, and I haven’t been for a while Edited 7 hours ago by Buckeye Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted 7 hours ago Share Posted 7 hours ago (edited) 2 hours ago, hasilp89 said: Vivek and Elon to lead Doge. “The Manhattan project of our time.” $6.5 trillion budget. how much can they cut Is it not ironic that the office leading the charge for government inefficiency redundantly has two leaders? Not a great start LOL! 1 hour ago, Vish_ram said: Almost everyone is against bitcoin before they are for it. 100%. Was skeptical of it from 2011 to 2019 and then something clicked and realized I was wrong the whole time. At at that point, at $12-14k a coin, I felt like I had missed the boat entirely. Over time, my understanding of it has evolved, as has my methods for estimating its value, and it turns out that 2019 was still very early. 2024 is too. Edited 7 hours ago by TwoCitiesCapital Link to comment Share on other sites More sharing options...
Blake Hampton Posted 6 hours ago Share Posted 6 hours ago (edited) 2023 U.S. government financials Total net cost: $7.9 trillion - Department of Health and Human Services: $1.7 trillion, 26% of total - Department of Veterans Affairs: $1.5 trillion, 19% of total - Social Security Administration: $1.4 trillion, 18% of total - Department of Defense: $1 trillion, 13% of total - Interest on Treasury Securities held by the public: $0.7 trillion, 9% These top 5: $6.3 trillion, 83% of total Let's cut more taxes!!! Best of luck to Elon and his DOGE!!! Edited 6 hours ago by Blake Hampton Link to comment Share on other sites More sharing options...
Kizion Posted 4 hours ago Share Posted 4 hours ago 4 hours ago, John Hjorth said: It's OK, @Buckeye, Short term sentiment driven content here on CoBF. [So much for Germany here, with their automakers and all related to that, I'll give you that.] Now you please try to think about an universal future, without the goods and services of : ABB, Siemens and [French] Schneider? [All listed, no talk, really, about them here on CoBF, except @dealraker some time ago mentioning buying Siemens, according to my personal observations here on CoBF.] I'm also in favour of such type of investments, but in my opinion none of them seems really cheap at the moment. Looked at ABB a while ago (in the dip) but decided to pass on them (probably wrongly). Link to comment Share on other sites More sharing options...
UK Posted 3 hours ago Share Posted 3 hours ago (edited) 11 hours ago, gfp said: It's not a good idea to be 100% sure of anything. It helps to think in probabilities and keep an open mind. +1 Edited 3 hours ago by UK Link to comment Share on other sites More sharing options...
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