Why do so many people in here have hats as their avatar
A lot of us are ashamed of our hair loss from years of crazy bitcoin price swings, but not silly enough to try a combover. I feel like my hat needs an update... hmm maybe it just needs to be thrown in the wash? You throw away your hat, we throw away YOU.   I didn't say throw it AWAY! I said throw it in the wash! It's kinda smelly by now. This will prevent you from taking it off even if just for a wash.  avatar-sized  Haha. DoubleDouble Entendre. Niiice. |
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Since shares trade at 120% premium in order to sell at 120% premium 6 months later you have to buy at 120% premium now. What is the point of doing that?
Is Grayscale a ponzi?
Likely not. Likely just overpriced. |
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Thanks. Gary in fine form. I enjoyed it. They spend a lot of time getting the settings right on the TA-1VP. Mebbe I shoulda listened harder. Didn't detect the auto tune. Musta been too busy fanboying. |
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So ... how do y'all feel about the monthly futures closing coming up this Friday?
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Interesting thoughts about whether we would keep human form or evolve into a "connectome". https://www.wsj.com/articles/looking-forward-to-the-end-of-humanity-11592625661 [could be a paywall, but not for me] During the months of lockdown, a sharp division emerged between people who work with information—images, words, numbers—and people who work with objects—shelving groceries, delivering packages, nursing the sick. The former can shelter in place and communicate through screens, but the latter have to venture out into the physical world, putting themselves at risk of infection...
...As technology makes it possible to escape more of the burdens and dangers of physical existence, this class and professional divide could deepen into an existential one, with a virtual elite being served by an embodied working class....
2030-2040ish...sitting on a balcony in a citadel's loft...powering up Ryzen 700...activating avatars...checking night's account activities...the day's work is done. Profit re-invested in more assets. Sent connectome 239/EAG beam to the Mars colony to see how it could venture there. Eloi, meet Morlock. Yeah. Not a particularly novel idea. Oh well. |
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Thanks. Gary in fine form. I enjoyed it. |
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I'm totally fine with sitting at this range until bcash or BSv go bankrupt.
You're making no sense. Blockchains don't go bankrupt. |
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a $92K annual drawdown on $2.3M. Not shabby, but neither is it anywhere near what I was making when I was a wage slave. And I ain't typical retirement age yet, so allowances need be made to extend the principal that many more years.
[edited out] Spot on! Steve Jobs once said: "For the past 33 years, I have looked in the mirror every morning and asked myself: 'If today were the last day of my life, would I want to do what I am about to do today?' And whenever the answer has been 'No' for too many days in a row, I know I need to change something." Calling yourself a wage slave for too long means you really need to change something in your life. Not all people can achieve getting enjoyment from work. There should be some choice in the kinds of work that we do, Probably fuck you status continues to be somewhat about having the option to do stuff that others may or may not agree with because it is your choice to engage in such activity(ies), and not strictly something(s) that you are doing because you have to in order to feel monetarily comfortable. Well, yah. My last job, most of my time was spent in various industry consortia and standards bodies, developing the specifications and standards to which the entire industry adheres to. I really did enjoy the work. But my wages being paid by one of the corporations developing products that adhere to those standards and specifications, my daily priorities were set by that employing corporation. So once my future economic condition seemed certain, I tendered my resignation. And continued participating -- on a personal basis -- in the various consortia and standards bodies. Did that for another year on my own dime. Just buttoning up the architectures of the standards in which I had a vested interest. Now I'm done with that too. I follow the developments from afar, but no longer drive them. And spend significant time upon avocation and hobbies. |
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@jbreher and @JJG were discussion spending $92K from a $2.3mil account as an exercise, 4% yearly and all...
That's all peachy, unless either $ value significantly declines or, alternatively, market would not appreciate for, say, 20-30 years.
Then, all money is gone in 25 years, someone is a 90 year old man (if you start at 65) in relative poverty (if social programs collapse or become highly insufficient).
I tend to believe that 4% is hogwash and recent events show that we don't know what to expect down the pike.
It is probably wise to have some residence paid out by 65; at least take this part of the equation out.
Regarding yearly withdraws: 3% sounds much more realistic, at least I use this number for calculations.
I'm certainly not is disagreement with you here. I just parroted 4%, as this has been a rule of thumb (at least from my understanding) employed by CFPs, based upon decades of data. Of course, with the recent orgy of money printer go brr, with all that purchasing power getting locked up in zero-velocity asset purchases (for how long?), I think we may soon be entering a new monetary era where all bets are off. |
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You can use your BTC stash as collateral for a 5% interest rate personal loan - borrow $10,000 with $40,000 of BTC
Celsius.network
I've earned interest with them for a year now, a good business.
I suppose. Unless the entire scheme goes pear-shaped. Used to be that wirecard was viewed as a safe thing. Even last week. Then they came up as 'missing' $2B USD. |
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Lol, I think there is to much mis-communication going on here
Yeah, maybe there was. Sorry for my part in it. |
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You go ahead and live your own meager life. I don't need your judgmental ass to tell me how to live mine. Especially as you are telling me how wasteful my postulated $2.3M life is in the next breath after castigating some other schmuck for not waiting til $190M.
Back when I was a wage slave, $3M was my eventual target. I was on track. Then bitcoin happened.
Not pissing away millions makes someone life meager? Nobody said anything about pissing away millions until this last post of yours. You told me I need to re-examine my life habits due to the fact that I pointed out that going from being a wage slave to having a $2.3M cushion is a larger life change than going from $2.3M and free to $190M and free. In the abstract, at that. Specifically implying that there was something wrong with me for thinking having $2.3M might be a nice thing. Again, in the abstract. Not only was your attack unwarranted on a personal level, but the lack of logic behind it is truly asinine. JJG just got done explaining -- yet again -- that many money managers consider a 4% annual drawdown from principal to be sustainable from typical retirement age until death. Which is a $92K annual drawdown on $2.3M. Not shabby, but neither is it anywhere near what I was making when I was a wage slave. And I ain't typical retirement age yet, so allowances need be made to extend the principal that many more years. So just GTFO with your self-righteous assertion that I need to reorder my priorities. If any nerve was hit, it was the one that leads to my blowhard asshole detector. |
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One more story that has given me a lot of courage, believe me, it is not over yet, more stories will be made.
Mr. Smith worked at a Silicon Valley tech company when he purchased $3,000 worth of Bitcoin in October 2010. “I had no idea how much to invest, but I was getting paid pretty well at the time, so I decided on $3,000.” Because Bitcoin was worth only $0.15 a piece at the time, his initial investment gave him around 20,000 Bitcoins.
From the very start, Mr. Smith knew that he was playing the long game, deciding to see just how high Bitcoin could go. For the next three years, he hodled his investment, only occasionally checking how Bitcoin is performing. But when Bitcoin hit $350, and then $800 just days later, Mr. Smith knew that it wouldn’t be wise to wait any longer.
He cashed out $2.3 million, quit his job He should never have cashed out as thats worth $190,000,000 today. OTOH, going from wage slave to 2.3M is categorically different from going from 2.3M and free to 190M and free. You need 2.3 million to not be a wage slave? Then you need to re-evaluate your life and how wasteful you are. You go ahead and live your own meager life. I don't need your judgmental ass to tell me how to live mine. Especially as you are telling me how wasteful my postulated $2.3M life is in the next breath after castigating some other schmuck for not waiting til $190M. Back when I was a wage slave, $3M was my eventual target. I was on track. Then bitcoin happened. |
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Can't read the article but banks might have no choice than buying negative yelding bonds to follow rules on holdings. Basically to lend money to "risky" companies and people, they have to hold some "non risky" debt.
Funny that the ECB doesn't offer the same deal to actual people. |
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people who end up intubated stand a real chance of dying.
Hmm. I'm not really trying to argue that you are wrong. I'm currently hunkered down. While I resent what I feel is government overreach in the liberty/safety balance, I'm happy enough to be careful on my own recognizance. But the following had me scratching my head: https://www.youtube.com/watch?v=UIDsKdeFOmQI realize that this is an uncorroborated report, and it is anecdotal if true, at that. But it seems sincere, and has me questioning the entire medical response to this thing. At least in my mind.
edit: I see Tash beat me to it. Whatevs. Just looked over a few minutes - and it seems the initial premise is that people marked negative for test were still 'presumed' Covid positive. OK, but... it is entirely plausible that: 1. People were not tested, but obviously suffering classic symptoms. 2. Test results were taking hours (at best) to even come back - if someone is an emergency admission and short of breath at dangerous levels - as a doctor, you need to act and make a decision. I assume we are not arguing that thousands of people were dying. 3. Tests were simply not showing positive, since they were unreliable. A positive test is rarely wrong, but false negatives do exist - tests were then (and are still) not infallible. Her assertion that they were not ill and were only short of breath 'due to stress' is a bit of a stretch IMHO. Testing being fallible - or (because of time taken to even get results) being skipped in cases where someone is obviously lacking blood oxygen, seems a more likely explanation than deliberately using up ventilators for people with no real need. Pulse oximeters are ubiquitous in hospitals and damn quick to reliably show dangerously low oxygen levels. People panicking get high results, people short of breath due to pneumonia get low ones. OK, that ventilators and, in particular intubation, are not the best clinical options may or may not prove to be the case. At this time there was no better option, since people with not enough oxygen tend to die pretty quickly. Well, her assertions, had you watched the entire thing, are more extensive than that. To your list, I would add: - Yes, anyone coming the the hospital complaining of shortness of breath were treated as 'presumed covid' - anyone presumed covid were placed in the covid population, sealed off from the outside world, yet kept in close proximity to 'affirmed covid' - pretty much every person who was in this ward were intubated shortly upon arrival, whether or not demonstrating a clinical need for such - pretty much everyone who was intubated eventually died - she believes (yes, that's a soft and fuzzy word) that the ventilators themselves were the proximate cause of death, - and that a significant portion of these dead did not have covid (i.e. repeatedly tested negative) - the hospital received a princely sum (I forget - $29K?) for every patient intubated Yes, it is a single anecdotal report. Is there a rebuttal from anyone in the same hospital? As I said, it has me scratching my head. |
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having one or two million in silicon valley might just make you comfortable
I take it you've never been to (e.g.) Palo Alto? So, in that regard, even just having a mediocre investment portfolio of $1 million or $2million (Let's say 1.5 Million, which is in the middle) is going to put these kinds of people way in front of the vast majority of other people With your subsequent clarification, I think we're largely aligned, JJG. I think I was mostly reacting to your choice of silicon valley as an exemplar. Sure, Coeur D'Alene could be a fine place to live out a comfy life on 2M (I'm spitballing here). But Silicon Valley? Nuh-uhnh. Not Palo Alto, not San Fran, not San Jose, not Santa Ana, not Milpitas, not Los Gatos, not... Ok, maybe Gilroy. |
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Jeebus. Is there a tl;dr version? |
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One more story that has given me a lot of courage, believe me, it is not over yet, more stories will be made.
Mr. Smith worked at a Silicon Valley tech company when he purchased $3,000 worth of Bitcoin in October 2010. “I had no idea how much to invest, but I was getting paid pretty well at the time, so I decided on $3,000.” Because Bitcoin was worth only $0.15 a piece at the time, his initial investment gave him around 20,000 Bitcoins.
From the very start, Mr. Smith knew that he was playing the long game, deciding to see just how high Bitcoin could go. For the next three years, he hodled his investment, only occasionally checking how Bitcoin is performing. But when Bitcoin hit $350, and then $800 just days later, Mr. Smith knew that it wouldn’t be wise to wait any longer.
He cashed out $2.3 million, quit his job He should never have cashed out as thats worth $190,000,000 today. OTOH, going from wage slave to 2.3M is categorically different from going from 2.3M and free to 190M and free. |
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people who end up intubated stand a real chance of dying.
Hmm. I'm not really trying to argue that you are wrong. I'm currently hunkered down. While I resent what I feel is government overreach in the liberty/safety balance, I'm happy enough to be careful on my own recognizance. But the following had me scratching my head: https://www.youtube.com/watch?v=UIDsKdeFOmQI realize that this is an uncorroborated report, and it is anecdotal if true, at that. But it seems sincere, and has me questioning the entire medical response to this thing. At least in my mind.
edit: I see Tash beat me to it. Whatevs. |
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having one or two million in silicon valley might just make you comfortable
I take it you've never been to (e.g.) Palo Alto? |
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