Results for "no bitcoin reserve"

The topic of immigration and Indians has blown up over the past few days. I dunno who got the ball rolling on this, but I suspect it started with Trump’s inside team, e.g. David Sachs, Elon Musk, and Vivek Ramaswamy pushing this narrative of a ‘talent/worker shortage’. This has led to various heated exchanges between… Continue reading The Trump-Tech Immigration Rift

Bitcoin 2024 conference is over. Bitcoin peaked at $70k last night, and now crashing to $68k, which is where it was before the conference. So I was right that it would be a dud and fail to boost the price, and as of writing this, Bitcoin keeps falling. Trump promised a bunch of stuff: -Creation… Continue reading Trump promises to commute Ross Ulbricht’s sentence

1. The crypto crash continues exactly as I said last week it would play out. There is no bounce after the initial crash to $26k…just a gradual slide lower, to $10k or wherever the eventual bottom is. As shown in the screenshot below of the past five days, no bounce at all: When the death… Continue reading The Daily View: 8/22/2013

If having a syringe, an LBGT flag, a BLM fist, and or Ukraine flag in your Twitter handle signifies support for ‘the current thing’, then having #bitcoin hashtag in your profile description and or having an NFT-themed avatar, signifies being an idiot who has lost or will lose a lot of money. Here’s one such… Continue reading ‘Professional Morons’

Came upon this interesting Ray Dalio video, in which he discusses the cyclical nature of empires. (starting at 26:00 it gets more interesting because he discusses how empires decline, which is relevant to the US) The video alludes to America being in the final stage of its empire, that being the decline. He does not… Continue reading Why the American Empire Will Continue: Principles for Dealing with the Changing World Order by Ray Dalio

What happened in November and December? The Turkish lira crashed: And so did Bitcoin: This was not supposed to happen. The narrative for the past year was that Bitcoin is supposed to be a hedge against uncertainty, hyperinflation, or that foreigners would buy bitcoin to preserve value against their crumbling currencies. Indeed, the currencies are… Continue reading The only hedge against inflation is quality

Inflation is in the news again Inflation rises at 5.4% yearly pace in September, CPI shows, and stays at 30-year high The pace of inflation over the past year, meanwhile, edged up to 5.4% in September from 5.3% in the prior month. That’s more than double the Federal Reserve’s 2% average target. As many have… Continue reading The inflation debate, continued

Earlier I reported that Michael Saylor had purchased 11,000 BTC at 36,000. He hadn’t. Rather he raised cash and only recently purchased 13,000 more Bitcoin. So his latest update: MicroStrategy has purchased an additional 13,005 bitcoins for ~$489 million in cash at an average price of ~$37,617 per bitcoin. As of 6/21/21 we #hodl ~105,085… Continue reading Doubling Down on Stupidity

Last week Elon Musk shook the world of crypto and investing by announcing that Tesla would no longer accept Bitcoin. In terms of coverage and newsworthiness, this matched even stories about Biden in significance. Consequently, Bitcoin and Tesla fell, and this prompted debate and talk about Elon Musk having too much influence, and how much… Continue reading Elon Musk and the Fall of Institutions

A common narrative is that forever-low interest rates are to blame for the post-Covid speculative frenzy, such as in Tesla, Uber, crypto currency, SPACS, meme stocks such as GameStop, and so on. Josh Brown posits such a link between low interest rates and speculation, writing: It won’t all work if rates keep backing up. Look… Continue reading Don’t blame low interest rates for post-Covid tech speculative boom