Kevin O Leary expects Bitcoin and Altcoins to reach new highs when the Stablecoin Act Passes
- Thread starter Tokenz
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No, not everyone throws sensible risk management out the window and goes high allocation on highly speculative bet. Once someone has more than about 10% of their net worth in something, you gotta question their objectivity. I think he had 20% in before it dropped 70%. Not sure what he's got now. That mstr guy another example. He's full leveraged long Bitcoin. He really needs it to go higher otherwise he gets wiped out.
Other issue is that since practically no one is using it as an inflation hedge, store of value, or means of exchange (outside criminal activity), only way to get the price higher is to convince people to buy it on hopes of getting rich / greater fool theory. So hodlers gotta hype. Unlike holders of Walmart, Microsoft, Apple... Companies that make and sell useful things people want.
That is not a bet I would be willing to challenge. That it hit near 70K at beginning of year is nuts. And since BTC is now following the NDX, and the NDX is in a world of pain, ATH in BTC in 12 months seems nuts.
I almost typed the exact same thing. You saved me a few letters.
No man, he's not doing it so more people will buy. He doesn't need more buyers, He's doing it because he's telling everyone why he believes in it. No different than if you were trying to promote food, everyone believes in food. And everyone will buy food whether we promote it or not, and if someone is starving then we should help them understand that food is the answer.
We are an idiot society of people who if still alive would question the intelligence of Richard Feynman and Einstein since they wouldn't have a billion dollars. If you are so brilliant why don't you have this arbitrary round number of net worth says the automaton.
It amuses me how stupid the average person is that no one believes a high net worth power ball lottery winner has any special intellect but of course every business is the result of some genius and not luck IF the founder can claim 1 billion in net worth. Even people who know any business has a huge amount of luck and timing would view the person with 1 billion as vastly "smarter" than the person "only" worth 500 million in a statistical poll.
The best I have seen in crypto is Richard Heart use to have on his twitter that he was a billionaire. Even had a video about how he is not at all but every fucking idiot will take him more seriously if he puts that on his twitter lol. Now that is brilliant.
Looking at AI art I noticed another brilliant person who had on their twitter "almost billionaire".
That is even more brilliant than Richard Heart since every unthinking automaton will take him more seriously and it is not a lie no matter how much net worth he has. "I am worth $1k but I am going to get there someday, almost billionaire."
It amuses me how stupid the average person is that no one believes a high net worth power ball lottery winner has any special intellect but of course every business is the result of some genius and not luck IF the founder can claim 1 billion in net worth. Even people who know any business has a huge amount of luck and timing would view the person with 1 billion as vastly "smarter" than the person "only" worth 500 million in a statistical poll.
The best I have seen in crypto is Richard Heart use to have on his twitter that he was a billionaire. Even had a video about how he is not at all but every fucking idiot will take him more seriously if he puts that on his twitter lol. Now that is brilliant.
Looking at AI art I noticed another brilliant person who had on their twitter "almost billionaire".
That is even more brilliant than Richard Heart since every unthinking automaton will take him more seriously and it is not a lie no matter how much net worth he has. "I am worth $1k but I am going to get there someday, almost billionaire."
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Food is a necessity. Without it, people die. Almost no one is using Bitcoin as a means of exchange, it's first promoted feature. It utterly failed as a store of value. Down huge this year alone. And of course, since it lost value during a time of inflation, it failed as an inflation hedge. No one needs crypto.
I don't understand...
If the US government REQUIRES backing with USD cash + equivalents on a 1:1 basis, and the longer term belief is the USD is doomed, how is a stablecoin anything more than a useful idiot product mandated to take on the offload of inferior assets? How does that protect/prevent anyone from the doomed USD?
BTW... O'leary is an elitist globalist that would sell his moms teeth if they have enough value. That said, many business people could benefit/learn from the tuf-luv business acumen O'leary pontificates.
If the US government REQUIRES backing with USD cash + equivalents on a 1:1 basis, and the longer term belief is the USD is doomed, how is a stablecoin anything more than a useful idiot product mandated to take on the offload of inferior assets? How does that protect/prevent anyone from the doomed USD?
BTW... O'leary is an elitist globalist that would sell his moms teeth if they have enough value. That said, many business people could benefit/learn from the tuf-luv business acumen O'leary pontificates.
So you don't like the guy, but admire him at the same time. Sounds like he is a success then.
He's rich, but he's not a billionaire.