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Excellent post.

we should only do that for white people like Christopher Columbus and Donald trump.

I agree on the ledger. I think the fixed supply is what will kill bitcoin. of the 25mm bitcoin, like half is with satoshi and a half of the remaining is in landfills. A proper currency can’t work like That.

I agree the poor and middle class will hurt substantially worse than the rich. I think your Bitcoin will trade like pre-revenue or pre-profit growth stock. When they rally, so will Bitcoin.

those people are screwed. But I don’t think that’s the bubble now. I think the bubble is in speculative assets (commercial real estate, investment properties, pre-profit or pre-revenue companies, “growth equity”, private equity.) this is a richmans bubble.

Crypto as a proper financial system is still a dream. We may get there, but not for a while. Bitcoin is at best a quasi stock for this future financial system and at worst a tulip. We're not going to a world where the "government stops all printing and borrowing." We're going to a world where...

the market won’t stay down 50percent. It will rally from there. Bitcoin will fall further because it’s a quasi equity investment on a future financial system that doesn’t produce any cashflow now. as a hodler you should be thrilled that Bitcoin is outperforming other “non-profitable tech”

Im working through it. It’s too good to be “background” tv

I’m still on season 1.

I agree with your analysis. Bitcoin, etc were not inflation hedges but rather some kind of quasi-equity in a pre-revenue company. Pre-revenue company valuations were inflating over the last decade and now they are collapsing. Crypto will be no different. Cash is the only safe spot because...

Love Death and Robots. it’s like black mirror but only 15 minutes long. And the animation on some will put deepfakes to shame.

now that he’s got it, hopefully he can parlay it into a greater investment. The markets are all about exploiting opportunity. I think you will find most traders make most of their money in a few moments.

fair point. I retract the degenerate gambler part. He probably had an element of luck, but we all traded the same market he did (or at least could). Did you make that much? My return in 2020 was good but not his level even risk adjusted.

the world is full of people who took a shot, made it big and then parlayed those winnings into something even bigger. My friends grandfather-in-law did this with a financial futures contract. he ended up on the Forbes400 list but 40 years ago you would have called him a degenerate gambler. the...

You’ve spread your share of it.

pedantically speaking, If you outsize the market you will trade worse than the bid or offer. but often (I bet more than 50percent of the time) you will trade better as market makers will compete for your order and will step up. They don’t want to post their axe as they might get picked off, but...

I think it’s illegal to hold both long and short futures. It’s considered wash trading.

not always.

I don’t think it’s about health but rather it’s about americana. I ate at a Pizza Hut in cheng du. It’s more upscale than they are here. Mexican food has not taken off internationally (which I’m surprised by).

so it is like the art market.