Sunday, May 19, 2019

Crypto: Educated Criticism or Professional Larper?

"If you don’t understand how fiat money works, you’re not qualified to judge whether cryptocurrency will be successful or not, period."

And that's the gist of this article, which I fully agree.

People that I've talked to that has pushed back hard against crypto will usually give the same arguments that people were already talking about in 2012.
"Something so volatile cannot be money."

"People will not use it."

"Governments will not allow it."

Tell this to anyone who is deeply involved in crypto right now, they'd probably snort.

Most people cannot understand the concept of money, and worse, confuse and think that FIAT money is the definition of money.

The reason why most people are not convinced by cryptocurrency is simply because they are either accidentally or willfully ignorant about fiat money.

You're telling me that they are actually people that exist who understand fractional reserve banking, debt, what is fiat money and government money printing, BUT yet they don't see the value of Bitcoin / cryptocurrencies?


I call bull - f***ing - shit.

People simply do not understand fiat currencies. Most people have never seen a chart on their own local currency fiat money supply.

I wanted to show the M3 of various countries, but honestly, who gives a shit about facts these days, amirite? As if me showing you blatant, unchecked money printing is going to change your mind. You'd probably think that it's good, since it supports asset prices, heh.

Anyway, the reason for me to write today's blog post is to try to convince anyone with an open mind about the future of cryptocurrencies.

The article is an excellent one and honestly, just give it a read.

Here is my favourite excerpt:

"Understand that the success of the system is contingent on an unwavering belief that throughout history innovation has always disrupted what currently exists.

 If a system is better, exponentially so, then nothing will ever be able to stand in the way of progress. For the same reason, Google destroyed Yahoo, and Facebook vanquished MySpace, Bitcoin and Ethereum will destroy money.

 In the same way Amazon has brutalized physical retail, Cryptocurrency will eradicate banks. If you don’t see this coming you aren’t paying attention."

And with that, my shill is over. This post was initially 3x longer, but I trimmed it down substantially so that things are delivered in a short, sweet, package.

All the best out there people. I'll be watching you plebs from the Citadel.

Tuesday, May 14, 2019

Bitcoin has higher yield than every single Swiss, German, Japanese Govt Bond

Makes you wonder, doesn't it?

Sunday, May 12, 2019

G, should I buy back crypto?

Hello my intelligent and astute readers of my dying blog.

I hope those of you that follow my twitter are amused but also educated by the content that I pump out.

Anyway, just want to say, wew look at crypto.

For context of those tweet above, see the chart below.

I roughly bought in at $104 in Feb and now we're sitting at $195.

Quick math gives you 87% ROI in slightly over 3 months.

Well of course anything that pumps so hard and so fast is probably due for a pullback. But then again, this is crypto, which is coming out of a year long -90% bear market, works on an accelerated timeline, 24/7, with margin traders. Before you know it, the pullback is already bought and we're making the next leg up, and bottom catchers are left chasing. Doesn't matter though, I'm comfortably long after bringing down the average prices of my purchases since the last cycle.

Btw, when I say I bought boatloads. I bought B O A T L O A D S of ETH at that price.

Saying I bought hundreds of ETH, would actually be literally true.

Moving forward as the market starts to draw in the new wave of traders and retail speculators, I think we'll see things start to get very spicy again. (read, VOLATILE, and NOT parabolic ascension to the moon)

Here's a video for you all to enjoy.

Given the fast nature of crypto, I have decided to use my twitter account as my main. However, I do plan to periodically make blog posts here for longer threads and also recaps on how the market is going.

As always, crypto is dangerous af. If you have no idea what you're doing, you're just my next meal out there. All the best to everyone, even all the crypto skeptics.

Tuesday, April 16, 2019

Uber / Lyft IPO

Lyft performance since IPO:

Investing in millennial brand name companies have been a fantastic recipe for disaster. Look no further than Go Pro to see how terrible it would've been.

Anyway, just wanted to put this out here.

Friday, March 29, 2019

US Govt Bonds have a 0% Chance of Default

Not I say one, but former Fed Chair Alan Greenspan say one hor.

If you need more money, just print more money lor, easy what.