Gyroscopic Investing

Smith1776 wrote: ↑Wed Oct 02, 2024 2:06 pm …
On the other hand, I increased my equity weighting towards emerging markets a couple days ago... and look at china/hong kong go!

I’m off topic, but I don’t understand how Hong Kong is going to thrive. I feel like the mainland is going to stifle business there the same way it clips the wings of its own entrepreneurs.

dualstow wrote: ↑Fri Oct 04, 2024 5:55 am

Smith1776 wrote: ↑Wed Oct 02, 2024 2:06 pm …
On the other hand, I increased my equity weighting towards emerging markets a couple days ago... and look at china/hong kong go!

I’m off topic, but I don’t understand how Hong Kong is going to thrive. I feel like the mainland is going to stifle business there the same way it clips the wings of its own entrepreneurs.

I'm not sure either. I have some family there.. I'll get their input in order to keep tabs on the situation as best I can.

So word on the street is that the HBO documentary on Bitcoin will be pointing the finger at Len Sassaman as the real identity of Satoshi Nakamoto.

His surname even sounds like “that’s the man.”

I wanna be a whole coinnnneeerrrrrrr.

Smith1776 wrote: ↑Sun Oct 06, 2024 4:49 pm I wanna be a whole coinnnneeerrrrrrr.

Are there any special benefits, comparable to trading an ounce of gold vs fractional or is it, as I suspect, just a fun social club (in-group)?

dualstow wrote: ↑Sun Oct 06, 2024 6:01 pm

Smith1776 wrote: ↑Sun Oct 06, 2024 4:49 pm I wanna be a whole coinnnneeerrrrrrr.

Are there any special benefits, comparable to trading an ounce of gold vs fractional or is it, as I suspect, just a fun social club (in-group)?

No benefits whatsoever, other than being able to say you’re a whole coiner. And I say that as someone who’d love to be a whole coiner. Technically I could do it, but that would be financially irresponsible until I hit a few other more important financial milestones first.

Thanks!

Indeed, no special benefits.

If you like Michael Saylor analogies (I do), the idea is that it's kind of like buying 1 whole city block of land in New York city during the initial land rush instead of waiting for the demand and value to go up once everybody else wises up.

By only owning a fraction of a Bitcoin instead of a whole coin, it's akin to only buying a fraction of that city block.

The thing I'm really mulling over right now is whether I can emotionally handle that much volatility for what would be a fairly substantial portion of my savings.

You cant print more NYC land tho. Bitcoin is scarce but you can create new tokens to trade. When gold got scarce (too expensive to borrow from some tycoon) people went to silver etc. That said I am feeling the FOMO and trying to figure out how everyone might need bitcoin

You could buy 23 gold coins at the current rate.

The bitcoin documentary on HBO is awesome, guys. Definitely watch it.

Watch it. WATCH IT.

Here's the YouTube recording of Bitcoin Amsterdam 2024.

Smith1776 wrote: ↑Wed Oct 09, 2024 2:33 pm Watch it. WATCH IT.

I'm afraid Bitcoin has become a crypto asset that is still LARPing as a crypto currency. I hold this opinion even though I'm probably in the minority of people who occasionally purchase things with Bitcoin (as recently as a few months ago).

- Fees will continue to rise, gradually pricing out more and more people from using it as a currency.
- Lightning Network is a custodial solution - not crypto currency

Does your expected return on Bitcoin largely depend on it becoming a global digital currency?

expected return on Bitcoin becoming a global digital store of value (the blockchain / self custody).....then currency (lighting network custodial frame rails)

gaddyslapper007 wrote: ↑Fri Oct 18, 2024 8:16 am lighting network custodial frame rails

Hey man, don’t post your crypto password publicly; it’s not safe!

gaddyslapper007 wrote: ↑Fri Oct 18, 2024 8:16 am expected return on Bitcoin becoming a global digital store of value (the blockchain / self custody).....then currency (lighting network custodial frame rails)

But even the global digital store of value case has been kneecapped by the block size limit. As more people try to use the blockchain as a store of value, fees will rise, pricing out potential new users of the store of value. For example, trying to store $0.50 of value on chain right now costs a 100% transaction fee.

Shouldn’t we expect such a system to be outcompeted by a system with the same scarcity guarantees but lower fees? One could invoke network effect arguments here, but it seems like Bitcoin is actively trying to shed users by kneecapping its growth potential.

well yah....the scarcity of block space is competing by fees. you would use lightning network for your 0.50 cents. $10.00 not worth it either......but i would pay $1.00 to store $100.00.......... (each individuals needs are different) Again SOV = main chain. Currency - Everyday needs / People can use the lighting payment rails...while still benefiting from the SOV principles and capture "Number Go Up" benefits. (this does come with short-med term volatility risk (in a "stable "currency) and some third party risk....so its discretionary to the individual how much value to store here.

Bitcoin isnt trying to do anything really......humans are using bitcoin the invention for various reasons that add / provide value to them individually.....the network is structed so that bad actors have no incentives. Its an "opt in" system.....completely voluntary

All the way back in 2010 Hal Finney predicted that bitcoin would be used as a base layer for final settlement transactions. Faster solutions will sit on top of this base layer to support the proverbial cup of coffee transactions.

A larger block size wouldn’t make bitcoin’s base layer any more viable for cup of coffee transactions because it doesn’t negate the fact that it takes 10 minutes to even get 1 confirmation. To say nothing of the fact that it generally requires 6 confirmations to be absolutely confident of the finality.

Layer 2 solutions are a must to get any bitcoin like payment system to scale realistically.

Additionally, larger blocks make running a node more computationally demanding and thus making a given protocol more vulnerable to centralization.

I was a whole coiner, but I donated it to Fidelity Charitable and put it into S&P500. It has still done well. I have lots of money to grant to charities.

I see that Proton, the Swiss outfit that created protonmail and more recently proton drive and docs, is now building Proton Wallet to hold bitcoin.

Is anyone using it? Is it good? (I’m on a waiting list).
https://proton.me/blog/proton-wallet-launch