Jack, what do you think bitcoin’s total addressable market is and where do you think adoption is right now and during the next bear market? I think there's a chance that it eats up gold's market cap because it is more rare and easier to store/transport. And a lesser but non-zero chance that it beco...

If you create a new wallet and I send you some Bitcoin, nobody but me knows that you own that Bitcoin. If you acquire your Bitcoin through an exchange w/ KYC requirements, that's another story. Yeah, you are talking to a crypto illiterate. I mean, I understand the concepts of what you just wrote, b...

If you create a new wallet and I send you some Bitcoin, nobody but me knows that you own that Bitcoin. If you acquire your Bitcoin through an exchange w/ KYC requirements, that's another story.

Is there any number at which you would sell your Bitcoin? What if there was a scenario where your Bitcoin had escalated in value (expressed in USD). A lot. And let's say there were storm clouds on the horizon in the form of potential regulatory change that could adversely affect the market. Would y...

Trying to tell people that they can run away with their wealth and start over or can be wealthy in some post-apocalyptic scenario is much harder to do when you're asking them to say "I have a very big number in my possession" as opposed to "I have a lot of gold in my possession"...

There is a good reason why BTC cannot actually be part of the PP at the moment, and that is because in order for you to allocate it to the PP, you need to be able to time the relative valuation of BTC against gold (i.e. whether BTC is over or undervalued compared to gold). I don't follow. Is this b...

My investments in crypto have been based greater fool speculation. Basically as I see more and more mainstream interest and enthusiasm for crypto the more confident I am that there will be a growing market. As long as the market of buyers is growing, the price should go up regardless of why they're...

Given his age though, I think he might have a hard time getting comfortable with the complexity of the technology and the opaque aspects of crypto in general. I'm MUCH younger than Harry Browne, and I have a hard time with those things too. I don't think it's an issue of being "comfortable&quo...

In Ayn Rand's Atlas Shrugged, the most productive members of society grow tired of carrying the yoke. The value of their productive effort is increasingly drained by cronies in Washington. They awaken to the fact that they are responsible for keeping this anti-life system going. They realize it is m...

If you have to qualify it by “hard” when referring to gold, then it’s not money until it’s converted like kbg alluded to. Yeah I guess we're quibbling with definitions. You guys say gold isn't money because it's not a medium of exchange. I consider gold money because it's a sure-fire way to store t...

What we're talking about is money on the nation-state level. The IRS's opinion is not applicable here. The IRS having deemed gold as property has had little bearing on people and nations hoarding it as money. I believe that when Bitcoin's market cap can support such use, countries will hold it in r...

Also, regarding Bitcoin vs cryptocurrencies in general. My mental model of the cryptocurrency world is that Bitcoin is like gold, almost an unchangeable elemental commodity, and other cryptocurrencies are like individual stocks, being under development, having a leader, etc. As such, I would never h...

But I think the proper tax treatment (ie as property) which is what most jurisdictions are treating it as will prevent the mainstream use of BTC for payments. Exactly. I don't understand why the currency conversation keeps coming back (in the US at least), when the IRS has deemed all crypto to be p...

The U.S. dollar is the leading money of the world, and gold is its principal challenger. It hasn't always been that way, and it may not always be. Sufficient inflation in the U.S. could dethrone the dollar -- making way for gold or another currency to be king. But, in the late 1980's, we're quite a...

Hal wrote: ↑Tue Jul 27, 2021 4:12 pm Just not 20% in say, GME.

On that point, elsewhere in the book he says that if you're picking individual stocks, to keep the position below 1% of the total portfolio, e.g. 25 companies for your 25% in equities.

Bitcoin butterfly portfolio would be too bearish. I'm happy with 25% equities.

I was recently perusing my copy of WtBLIPUGW&HYCFS&PiaUW (Why the Best-Laid Investment Plans Usually Go Wrong <takes a breath> AND How You Can Find Safety and Profit in an Uncertain World). I noticed that Harry gives some guardrails if you feel the need to go off script: If you want or need ...

Please correct me if I’m wrong. My understanding is that if the price goes up then there will be more miners, then hash rate and mining difficulty goes up, the network can process more transactions so it reduces congestion so for the same number of transactions and fees will then go down, no? The n...

I'll concede those points for now because as bitcoin gets more expensive it actually is better for the network since there will be more miners and transaction fees will be lower. I don’t think transaction fees are related to price or number of miners. Fees increase as people vie for their transacti...

It's 100% speculation that the future price will be higher. When no one believes that will happen the illusion will pop and i think the price will move quickly to match the intrinsic value. Do you also think the gold price will someday crash to where it only reflects its intrinsic value? If not, wh...

Did a Cash -> Stocks partial rebalance. Just enough to get the portfolio back within the bands.

Still haven’t pulled the trigger on the above. Thinking of doing so before EOD but still a bit apprehensive. Anyone else rebalancing into stocks?

Screen Shot 2020-03-13 at 8.41.32 AM.png After yesterday, looks even more like I should rebalance Cash -> Stocks. I have limited mobility due to 401k restrictions, so that's all the rebalancing I can really do. The investments are mutual funds, so I think I have until the end of the day to decide.

The stock % is based on last night's close. After today closes, I'm thinking I'll be rebalancing cash -> stocks. A little nervous though. Seems like another -5% day tomorrow could be likely.

Kept my kid home from preschool today and for the foreseeable future. Unfortunately my wife is going about her life, business as usual. At any rate, a week from now things will be looking much different, for better or worse.

Echoing others here...it's nice being able to enjoy this beautiful day on the East Coast while others are fretting about what to do as the stock market implodes.

Edited to add: