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What I Think of Bitcoin

bridgewater.com

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Re: What I Think of Bitcoin

#31

Post by marcrosoft »

PaulHoule wrote: post #2

90% of the time Ray Dalio has an interesting opinion and good analysis, and he does this here. I did an analysis based on the same premise (Bitcoin competes with gold) and came to basically the same conclusion. Dalio's writings about how the "All Weather" fund works are based on a premise a lot like the "Permanent Portfolio" advocated by Libertarian presidential candidate Harry Browne but Dalio took out the "gold" co…

My guess is TIPS would outperform gold for low to moderate inflation and get absolutely crushed for high or hyper inflation.

Re: What I Think of Bitcoin

#32

Post by agbell »

okprod wrote: post #13

I think Dalio used to be more against Bitcoin. His writing/books are definitely worth reading though.

I liked the first part of his book, that was a biography. The second part with the principles seemed strange. Meetings had realtime feedback dials so you tell the person listening you were bored? Every meeting is recorded and kept forever. I'm working from memory, but it seemed cultish and strange.

Re: What I Think of Bitcoin

#33

Post by paulpauper »

Bitcoin was good until around early-mid 2017, when it became over-regulated, too expensive to use, no privacy, too slow, etc. The fungibility is gone. Everything is taxed and tracked. Pretty much useless

Re: What I Think of Bitcoin

#34

Post by thesausageking »

lalaland1125 wrote: post #24

This post should be mostly discounted because Ray doesn't really seem to be aware of the true risk of the Tether scam, the biggest component of and risk to Bitcoin's value. For those not aware, Tether is a "stable coin" that issues tokens that supposedly represent dollars and can be used as a medium of exchange. However, it's widely suspected that Tether is unbacked and printing fake dollars and even Tether itself ha…

Tether FUD always returns when there's an influx of a lot newcomers to Bitcoin. It's been debunked over and over. Here's one by Nic Carter that explains why these "takedowns" are completely wrong:

https://medium.com/@nic__carter/assessing-bitcoins-liquidity...

Re: What I Think of Bitcoin

#35

Post by Synaesthesia »

I don’t get how Bitcoin can become a viable currency or store of value in the future. It’s almost exclusively owned by a small group of individuals. Are we gonna accept that level of centralisation? Of course not.

Re: What I Think of Bitcoin

#36

Post by offtop5 »

bshimmin wrote: post #3

I offer no commentary on the actual content, but this is a truly horrible piece of writing - almost every sentence is clunky, poorly phrased, ungrammatical, or repetitive. I guess you don't need to be able to write decent prose to make $18B!

I mean, it can be argued his no nonsense style of writing is exactly why he's successful.

He didn't waste time and money sending this to some ivy league educated kid for a proofreading session. I've even heard one theory that the higher up in a company you get the shorter emails tend to be, simply because the folks writing those emails don't have time to waste.

In fact the coolest thing about English is just how much flexibility exist in the language, from my studies of Asian languages this just doesn't exist to nearly the same scale.

Re: What I Think of Bitcoin

#37

Post by herodotus »

I could not read this article because first I had to agree to this: "I am entering this website only to obtain general information regarding Bridgewater Associates, LP and not for any other purpose." but that was not at all why I was trying to enter the website. So I will probably never know what Ray Dalio thinks of Bitcoin.

Re: What I Think of Bitcoin

#38

Post by paulpauper »

marcrosoft wrote: post #31
PaulHoule wrote: post #2

90% of the time Ray Dalio has an interesting opinion and good analysis, and he does this here. I did an analysis based on the same premise (Bitcoin competes with gold) and came to basically the same conclusion. Dalio's writings about how the "All Weather" fund works are based on a premise a lot like the "Permanent Portfolio" advocated by Libertarian presidential candidate Harry Browne but Dalio took out the "gold" co…

My guess is TIPS would outperform gold for low to moderate inflation and get absolutely crushed for high or hyper inflation.

they would only get clobbered if the fed is ahead of the curve. If the CPI is 4% a year and interest rate is 2%/year, then TIPS are very good cuz you are getting a 2% real return even with high inflation.

Re: What I Think of Bitcoin

#39

Post by bitxbitxbitcoin »

Synaesthesia wrote: post #35

I don’t get how Bitcoin can become a viable currency or store of value in the future. It’s almost exclusively owned by a small group of individuals. Are we gonna accept that level of centralisation? Of course not.

Do you think that centralization of Bitcoin is worse than centralization of USD?

Re: What I Think of Bitcoin

#40

Post by choxi »

thebean11 wrote: post #30
lalaland1125 wrote: post #24

This post should be mostly discounted because Ray doesn't really seem to be aware of the true risk of the Tether scam, the biggest component of and risk to Bitcoin's value. For those not aware, Tether is a "stable coin" that issues tokens that supposedly represent dollars and can be used as a medium of exchange. However, it's widely suspected that Tether is unbacked and printing fake dollars and even Tether itself ha…

Ray isn't the only one, the market is pricing in zero risk of tether collapsing. It trades at no discount to real dollars, anybody with a Coinbase account could convert pretty high volumes of tether to real dollars. I really have no idea why, it seems sketchy.

It looks like Coinbase doesn't support Tether: https://www.coinbase.com/price/tether
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