^ What am I going to do exactly with those dollars when dead?
I have heirs. Even if you don't have any, you'd probably like to be buried and have everything taken care of, so there are "death plans" for that purpose. A small "token" life insurance plan assigning a close friend to be beneficiary and a "dead man's switch" email saying "here, you get $100k when i died, please bury my body somewhere, or cremate it, ble bleh and keep the change." Think: "What would a Pharaoh do?" Edit: This would also be a good time to do the cyronics thing. If you have nothing to lose, why the fuck not? Just get the following tattoed on your forehead and put on your tank: Hello! In my brain is the seed code to 1 bitcoin. Revive me and it is yours. Include the public key and a signed message saying the above on the bitcoin. When 1btc is enough to buy a planet you can be SURE that people will do anything to get your mind back. Then go and withdraw your other 100 BTC and be a God in the future. This. Get a brain wallet and freeze yourself. I have a friend in the transhumanism movement that was telling people to buy just $100 worth of Bitcoin when the price was around $1. Telling them they can keep their Bitcoins in a brain wallet and there would be incentive to revive you. He listened to his own advice and bought a lot more than $100 worth at $1. Now he is working on the next step of being able to be kept frozen for a long time. Without interference from governments...which is part of the point of making seasteading happen. The next phase will not be televised. Save your bitcoins. |
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Thanks for this, I wasn't at all aware of "Colored Coins". Their website is down, they don't seem to be very popular these days, which does not take away from their significance. Speaking of popularity, for all we know, NFTs, in their current implementation, may die out sooner than we think, or they may not. This NFT thing is new to me and I need to read/research more about it to be able to have an informed opinion. The thing that bothers me is that it involves Ethereum, just like the ICO craze. I've never owned Ethereum and don't intend to, purely out of principle (I absolutely hated their blockchain transaction reversal fiasco that happened years ago). To me, anything involving Ethereum has a tendency to be a solution looking for a problem—yes, I'm that biased against it... Will watch this space and see how things go. One should be open to new ideas and be ready to embrace and support them if they are worthy and useful in solving real problems and making our lives better. Having said that, history in this space has taught us time and time again that there is only one King Daddy, and that's Bitcoin. So, I would be much more supportive of NFTs that could use Bitcoin as the basis for their settlement layer. If you want to start digging into the next big thing for Bitcoin I suggest you check this out: https://www.rgbfaq.com/NFTs, Smart Contracts, DEXs, etc. on the Bitcoin lightning network. It will require patience, and the first implementations will be like the early days of Bitcoin where you need to know what's going on under the hood to get things to work. Initially. Functional basic wallet is expected by this June or July. |
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Calling it now. New ATH on Saturday $67K.
Math and science.
QFT |
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Bitcoin had NFTs for about a decade. They're called colored coins. There was even a collectible card game created. What am I missing. Why are people thinking NFTs are new? |
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A couple of days ago, Biodom posted a recent interview with Michael Saylor, which I bookmarked to watch later. I just did, and it's a good one. Typical Saylor. I like his way of explaining the different concepts involved. Here's the interview again: https://youtu.be/wnQJ8ROyhrMA good watch in its entirety. If you think it's merit-worthy, please do not merit me, but Biodom's original post above. Edit: He discusses the idea of earning interest on his Bitcoin by lending it via services like Celsius. He says it's not worth it. He's a hardcore HoDLer! I found his discussion on Bitcoin essentially being the transfer of energy interesting because it looks like he's definitely looked into the concept of transferring electricity over large distances. I believe that the best future currency will be energy. Ideally such that you have something like a thumb drive in your pocket, you walk into the store and plug in the drive and it "charges" a few seconds and now they have $50 worth of KWh. You can buy and sell over the mesh network and when you get paid you either just get it automatically uploaded to your home charger or whichever. Of course I have to say the future because there are all sorts of hurdles of physics to deal with as Saylor touched on with loss of power over distance and such. I think that once superconductors reach room temperature this would be one of the applications. They have just discovered some twisted pair carbon superconductors that are fairly promising. If, instead of miners just burning power to create BTC there was a rush to create energy such that the planet is filled with abundant stored energy...it would be useful toward our move into space. |
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The tulip mania inflated in what fiat currency?
How many people are using that currency today?
How many people are buying tulips today?
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1 BTC = 1 BTC 2 print BTC 3 goto 1 1 BTC
1 BTC
1 BTC
1 BTC
1 BTC
1 BTC
1 BTC
1 BTC
1 BTC
1 BTC
1 BTC
1 BTC
1 BTC
1 BTC
1 BTC
^C
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So I watched the whole hour plus video because it was a good talk...you're right he gets it. I'm not criticising his view but I am certainly in disagreement on some of his points. I think one of his major points is that all of the billionaires in the world will be moving their wealth to bitcoin due to its excellent ability as a store of wealth. I won't jump into the "store of value" vs "currency" debate as that has been fought tirelessly, I have always seen it as both but if people are ok with it being a store of value without the ability to use it as a currency then that's all good. I always assumed that it would not be seen as valuable without the ability to spend it easily. Hence my interest in the lightning network and making it easy to spend your wealth. He also focuses on the fact that corporations, billionaires, etc. won't really care if they have to follow KYC/AML guidelines if they are placed on Bitcoin because they're already doing that for all of their assets and they don't really care. Adding that it may even make Bitcoin even more valuable as it gets more regulated. Of course, that's where it rubs me the wrong way. Though I am open about my bitcoin spending and have nothing to hide, if you look at history there are several examples where being able to hide wealth and what you do with it from the government. I use the example of...what if the jews had bitcoin under Hitler's reign. They could have used OpenBazaar to order weapons, radios, their families that escaped could have sent them funds from overseas, etc. To blindly trust that governments having full knowledge of your finances should be ok over the next 100 years requires ignoring the past 100 years. Of course, the technology of Bitcoin is moving toward full privacy of transactions so that's a good thing. Get all of the money into Bitcoin then make it a privacy coin. Too late for the tyrants to put the genie back in the bottle at that point. |
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I like Saylor's talk about borrowing against your bitcoins so you never have to sell. I'm going to work on that over the next couple of years to be ready for any big purchase I may want in the future. Unfortunately I'll be paying the capital gains for this year's sale. I really hate paying taxes, I've been able to avoid it by only selling under the zero tax rate per year but I think borrowing will be a good way to do it from now on.
Please let me know if you figure out a good, cheap, and quite safe way of going about this.. +1 from the other Eddie. We need to figure out ways to use our present or forthcoming wealth. Being rich doesn't come easy, and it staying rich isn't a piece of cake, either. Biodom listed some resources a few pages back. -multisnips-Biodom, it's not the first time you use the word 'bearish' to define JJG's ladder system. Why would you characterize it so?
I just do not want to criticize too much, to each their own. you would be able to borrow against btc stack, which M. Saylor keeps bringing up, but not many on WO are listening. Such loans are typically used by high net worth individuals (HNWI) against VTI, VOO, SPY, and other whole or broad market ETFs. Thank you. You got me thinking, especially about the loan thingy. I'd be glad to know more about that. Any pointers will be welcome. Fidelity: https://www.investopedia.com/fidelity-will-accept-bitcoin-collateral-for-cash-loans-5091879Basic rate is high, 4.5%, but i am sure this will go down. I would be shocked if Coinbase would not do the same soon after the IPO. Personally, i would never go above 20% LTV, maybe just 10% (in case of our typical 80% drawdown). The advantage-NO cap gains tax. In fact, maybe deductible interest (or not, hard to say) Borrowing Against securities (better rates right now): https://www.schwab.com/pledged-asset-lineLibor is 0.11%, so the best rate is 1.86%. Say, you've got, hypothetically, $10 mil of VOO. You borrow $ 3mil. Your interest (to pay) is 3000000X0.0186=$55800 yearly However, $10mil in VOO generates $152000 yearly in dividends. End result-you borrowed $3 mil to do whatever, it effectively cost you nothing (well, a decreased divvy). Yes, you would have to pay the principal at some point, but you can use divvy remainder to do that plus VOO goes up roughly 10% a year, so the loan basically pays for itself (if stock market performs). That's why rich can have a cake and eat it too, lol More: https://www.wellsfargoadvisors.com/why-wells-fargo/products-services/lending/securities-based.htmYes, best rates are for those with lots of assets. Ret accounts are NOT eligible, though. Mind you, I have done nothing of the sorts so far, but I am studying the question (after Saylor's remarks). |
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I am quite happy to be wrong about the price going down over the next few years.
I have no buying or selling to do for several years anyway so I am just watching with joy the higher it goes.
Looking forward to $100k for easier conversions of sats.
Surely, it is a good thing that you are happy (another word for "joy") about such an outcome that seems to have quite decent chances of playing out.. rather than your nonsensical vision of a $50k top that fucks up the cycle into 3 years rather than 4, and not that such craziness could not happen, your assertion of such a scenario seems like almost pure fantasy land given a variety of other macro and even institutional FOMO factors that you are either failing to account for or downplaying way to much in your presumption of a $50k top for this cycle. I factored in $50k as the top about 3 years ago when I put my sell order in. So I went from about 99.9% BTC to about 95% BTC at that price. When you know the bitcoin price is going to the moon and all you have is bitcoin but the price is $6-7k and you have rent due or you're borrowing someone else's car because you don't want to sell multiple bitcoins to buy your own car knowing that those bitcoins are going to be worth so much more very soon...it kinda sucks. Now I have enough for the next cycle so I'm good. I like Saylor's talk about borrowing against your bitcoins so you never have to sell. I'm going to work on that over the next couple of years to be ready for any big purchase I may want in the future. Unfortunately I'll be paying the capital gains for this year's sale. I really hate paying taxes, I've been able to avoid it by only selling under the zero tax rate per year but I think borrowing will be a good way to do it from now on. |
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Don't mind prodhon. He's an old school troll that was on here early enough that he likely threw in 1000 bucks when the price was $1/BTC on a drunken binge or just for the lols.
After being super rich he realised that being rich is not fun if you have no friends. Craving any human contact after being away for years he fired up his wall sized computer screen with direct neural interface to connect to bitcointalk to troll once again. To make up for how lonely his castle feels when there's nobody there but you.
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here is masterluc/pentarhudi: https://www.tradingview.com/chart/BTCUSD/zzbhCPLm-Long-term-targets-approaching/He was misfiring on short term targets lately, admitting to that, longer term look solid. However, i don't get all this talk about a new crisis. We are just coming out of one and about to have a growth spike. A new crisis might happen later in the decade, but I don't see it soon, albeit higher inflation is possible with a caveat that deflationary forces (technology) remain as strong as ever. Bitcoin bouncing around this summer between $100k and $250k would be fun. |
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I am quite happy to be wrong about the price going down over the next few years.
I have no buying or selling to do for several years anyway so I am just watching with joy the higher it goes.
Looking forward to $100k for easier conversions of sats.
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I also don't see why the market would give any special value to this altcoin
This would be the key. If you could somehow make the currency attributes specific to that state then people would be encouraged to use it. Like, maybe it's a POS token where there is a rewarded amount given out to every citizen of the state every transaction or some sort of distribution based on property or something unique to that state (oil in Texas, Uranium in Utah, etc.). The USD is a world reserve currency but it is being destroyed. In order for an altcoin backed by a state to be valuable, it would need to have some attribute that other mediums of exchange do not have. States could have their state specific altcoin backed by some natural resource, so in Texas, for example, might have one TXcoin be backed by 1/10 of a barrel of oil, but this would mean the altcoin's value would be based on the underlying commodity. States could also give some incentive to use their altcoin in financial transactions within their state, for example, a state could exempt transactions involving their altcoin from certain taxes, such as sales tax, but I would see little reason for the state to do this (what benefit would the state receive?). As to your comment that the USD is being destroyed, I would note that other major currencies, such as the Euro, UK Pound, Yen, and Chinese Yuan are all seeing similar levels of government borrowing in each of their respective currencies. Based on this, I don't see the US dollar losing its status as a world reserve currency based on government spending/borrowing. The massive global government borrowing may result in global inflation, but we have seen historically elevated government borrowing levels for about a decade without excessive inflation; maybe there is a limit to this borrowing, I guess we will see. If every country in the world is inflating their currencies then a single state holding a strong currency could become the next world economic powerhouse. An island of happy commerce surrounded by a sea of despair and keynesian economic destruction. |
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I like this concept as well. They get it right with the shape. Anything above water needs more weight at the bottom than the top. When we calculate the width of our platform on top of the spar we have to take into account someone at the highest story walking to the edge, then factor in the tilt factor. For us we consider a dinner party where 4-5 people of average weight goes to one side of the highest point. We figure a tilt of less than 5% is probably reasonable. If it is shaped like a pyramid or a cone then you can have wider bottom floors. I have proposed a design that looks sort of like a wedding cake which would allow you to go stand on the balcony which is the size of the floor below you. |
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Thank you for your detailed response, but I just have a few more questions. Would it not be better to buy old oil rigs and then convert that to living spaces? The oil rigs can withstand high seas and they can be moved and no research and development would be necessary... reducing the funds needed for this.  The oil rigs can also be retrofitted to serve as energy generators at the bottom of the pylons? (Hydro electricity) to provide energy for the small households on top? These platforms can definitely operate in International waters ... but as you have experienced.. that does not matter to authorities. (Also... distance is not practical if you live that far away from civilization)  (Boats can be lifted out of the water and Helicopters can be used for traveling) They are expensive to maintain. As Elon Musk showed, you can buy one for about $3-4 million which is fairly cheap. Oil companies are fine with using them because they're pulling millions of dollars up from the ground every day so flying a helicopter to the rig or other expensive ways of getting on there and taking care of provisions, etc. are covered. As I learned by owning a cruise ship, you need a lot of income to maintain these huge beasts. The oil industry and cruise industry have a lot of money flowing in to keep these things on the water. Someone actually bought one and turned it into a hotel. At least they tried to. Turned out to not be very popular and now they're looking for donations and volunteers to keep things going. https://fptower.org/While you're here if you don't mind  , is it feasible to live entirely off of fish, crustaceans and maybe algae, without having to leave the sea? That's the ideal. Fish farms, etc. We're working on putting hydroponics in our homes, theoretically you can live off of microgreens but it takes a lot of time and they're not that tasty. There's no need to give up on the international market just because you live a little further from the store than you used to. Here's our speech at Anarchapulco last year on what we're working on here in Panama. https://www.youtube.com/watch?v=jxrsSI90OBA |
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But if you ask for a rise it's no surprise that they're giving none away. The laddie reckons himself a poet! |
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"The value of Bitcoin fell" Then came back within like 10 minutes. Congratulations CFTC, you made a blip. You can pretty much assume that the US government is "investigating" pretty much every aspect of the crypto market trying to find a weakness. That's why you don't put your money on a centralised system that the US government can get its dirty hands on. |
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