791–800 of 1001 posts
I feel similar sentiments about working in Cloud. It's mostly vaporware.
Public clouds have enabled thousands of companies to put their products into the world without having to build and maintain hardware. They've completely changed the landscape of computing.
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My advice is always: invest in the assets I hold, and never sell. It really makes the value of my holdings rise.
This is the worst financial advice anyone could take. For context, this is the equivalent of someone telling you to invest all your savings in the company you work for and use all your salary to buy more stock.
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The only buyers are criminals, sanction evaders, and probably the dumbest people in the world given that the entire crypto ecosystem is focused on one thing and one thing only. Creating the most deflationary monetary system in history.
>criminals, sanction evaders The definition of both may vary depending on where you are. Being not controlled by governments is the original purpose of cryptocurrencies.
Like most kids, I had my Randian phase. But I grew out of it before moving to Sili Valley. I've always been a bit of a fan of Adam Curtis' documentary style, and "All Watched Over by Machines of Loving Grace" (named after the Brautigan poem) is worth watching. I'm not sure how much of his narrative of Rand is accurate, but it's well presented: https://youtu.be/I6EBpLfLHCA?si=SE93Dp9nsl11vnU3
- The rebellious teenager. The often 'outgrow' it.
- The self made man (who in a certain way also rebels against society). These are generally the entrepreneurial types. Their understand the essence of views put forth by AR. Their views do not change over time.
Most people fall into the first category.
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Why didn't you buy $1000 of NVDA instead? It would have paid off better. Clearly, NVDA shares are the future of currency.
No it wouldn't have. I bought 10 bitcoin for about $1000 in late 2013. It's currently worth about 900K and was a peak of about 1.2M. $1000 in NVDA shares in late 2013 was about 35 cents per share, so about 2850 shares. That's currently worth 521K with a peak of 590K. And why? Because in 2013 I thought there was a greater potential for bitcoin blowing up substantially due to the new concept of blockchain and what it c…
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It has proven neither to be a store of value nor medium of exchange though it is being used extensively for criminal activities.
Monero is used for criminal activities, not Bitcoin. How do I know? I monitor crime, mostly but not exclusively drug crime, on Tor's hidden services: https://rnsaffn.com/zg4/ Monero is the cryptocurrency of choice.
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IME, these discussions always reduce down to one set of irreconcilable differences: Does a government have the legitimate right to impose taxes on its people, and to sanction criminals (and criminal activity) via control of the Financial system? Anti-crypto people say yes (and in fact the government has a responsibility to fight tax evasion). Pro-crypto people seem (I’m not one of them) to say no, that people have th…
I think this is a huge misconception. I certainly don't view this issue as grounded in 'rights' or what governments should or should not do. It's entirely an issue of what people can and cannot do with this technology. It's a game with sides, and the concern should be that the technology has made playing for one side much easier than playing for the other. The technology has unlocked total freedom of association, and…
In the case crypto, there are lots of things they could do to limit the impact. They can forbid government regulated banks (or any corporation) from engaging with it. They can limit all the points where could you, in volume, convert in and out of the normal currency system.
So, obviously, the use of crypto can't be forced to zero, but that's not really an interesting point.
The question is, does crypto have, on balance, a legitimate use in developed liberal democracies? Or should these states suppress it?
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Both supporters and critics approach it too religiously. Yes 99% is scams and rugpulls. The rest of the higher profile coins are, at the very least, tools to make money. Why emotionally sell all your crypto vs holding some higher quality as insurance with potential upside? Or even, ride the periodic bulls and take profits, rinse and repeat? If it's full of scammers, why not take some of their money? Does this require…
>The rest of the higher profile coins are, at the very least, tools to make money. Make money from what?
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My advice is always: invest in the assets I hold, and never sell. It really makes the value of my holdings rise.
This is the worst financial advice anyone could take. For context, this is the equivalent of someone telling you to invest all your savings in the company you work for and use all your salary to buy more stock.