Bitcoin Forum
December 18, 2017, 09:42:30 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 »  All
  Print  
Author Topic: Which "Economist" did you followed and made money...?  (Read 2565 times)
Mikcik
Sr. Member
****
Offline Offline

Activity: 367


View Profile
January 29, 2014, 01:42:16 AM
 #1

Hello i just wanted to ask, did you follow advices of any "economist" (or anybody somehow connected with economy, financial world, business etc.) in your life for a longer period (several years) and in multiple fields (stocks, gold prices, emerging markets, anything) and it payed off, that means that according to public "advices" made by this man or woman, you made more money than you lost (following his advices)?

Is there anyone? I find for example Jim Rogers quite good, he makes sense to me, but i really dont know if following his oppinions of the market brought anybody any money (i have known about him for just a short period of time so i really cant tell).

1513590150
Hero Member
*
Offline Offline

Posts: 1513590150

View Profile Personal Message (Offline)

Ignore
1513590150
Reply with quote  #2

1513590150
Report to moderator
1513590150
Hero Member
*
Offline Offline

Posts: 1513590150

View Profile Personal Message (Offline)

Ignore
1513590150
Reply with quote  #2

1513590150
Report to moderator
1513590150
Hero Member
*
Offline Offline

Posts: 1513590150

View Profile Personal Message (Offline)

Ignore
1513590150
Reply with quote  #2

1513590150
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513590150
Hero Member
*
Offline Offline

Posts: 1513590150

View Profile Personal Message (Offline)

Ignore
1513590150
Reply with quote  #2

1513590150
Report to moderator
1513590150
Hero Member
*
Offline Offline

Posts: 1513590150

View Profile Personal Message (Offline)

Ignore
1513590150
Reply with quote  #2

1513590150
Report to moderator
billyjoeallen
Legendary
*
Offline Offline

Activity: 980


Hide your women


View Profile WWW
January 29, 2014, 03:35:54 AM
 #2

like lots of early adopters, I follow the Austrian school or economics lead by Ludwig vonMises, Hayek and Murray Rothbard. I have done very well with bitcoin, but there is some controversy as to whether bitcoin follows the regression theorem. Some claim that money has to originate from a commodity that becomes the most marketable or liquid commodity, and then is traded as a proxy to solve the problem of double coincidence of wants.

I however argue that bitcoin is a commodity and not a money yet due to its high volatility. It has the greatest potential of becoming money for the same reasons gold became money, namely it is recognizable, divisible, portable, fungible and scarce. More-so than even gold. 

Jeffery Tucker is an economist in the Austrian vein and he agrees.

insert coin here:
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc

Open an exchange account at CampBX: options, lowest commissions, and best security
https://campbx.com/register.php?r=0Y7YxohTV0B
empoweoqwj
Hero Member
*****
Offline Offline

Activity: 518


View Profile
January 29, 2014, 05:15:03 AM
 #3

I follow a guy called Satoshi Nakamoto - he's made a lot of people money for the last 3 years Smiley
_Miracle
Hero Member
*****
Offline Offline

Activity: 500


Do due diligence


View Profile
January 29, 2014, 05:44:10 AM
 #4

I follow the advice of "know what you are investing in" and don't blindly trust brokers to "advise" you.

Suze Orman/Dave Ramsey are decent free places to begin to learn about money (they are very conservative, it's doubtful either of them will ever say "invest in bitcoin") .

Most of the Economists that I respect and follow don't understand bitcoin.
It's going to be awhile before we get  those perfectly blended specialists.


Sometimes there's more truth in forums than anywhere else.  Twitter:  @cryptobitchicks   "I am expressing multiple attitudes simultaneously. To which are you referring?"
marcus_of_augustus
Legendary
*
Offline Offline

Activity: 2464



View Profile
January 29, 2014, 06:06:33 AM
 #5

Hayek.

billyjoeallen
Legendary
*
Offline Offline

Activity: 980


Hide your women


View Profile WWW
January 29, 2014, 06:09:52 AM
 #6

I follow the advice of "know what you are investing in" and don't blindly trust brokers to "advise" you.

Suze Orman/Dave Ramsey are decent free places to begin to learn about money (they are very conservative, it's doubtful either of them will ever say "invest in bitcoin") .

Most of the Economists that I respect and follow don't understand bitcoin.
It's going to be awhile before we get  those perfectly blended specialists.

Suze Orman is a lesbian. How conservative can she be?

Dave Ramsey is conservative, but I remember him advising people to use a mneymarket account rather than a checking account. This burned a few people in 2008 when Lheman Brothers failed. It would have burned a heluva lot more if not for the bail-outs. The guy also has gone nakrupt in the past and advises people to pay off all debt, starting with the smallest, regardless of the interest rate. Debt free makes no sense when bitcoin goes up about 10000%/ year, inflation is running three percent and my mortgage interest rate is 4.5%. If I had followed his advice, I would have sold all my bitcoin to pay off loans and I'd have a net worth of about 20 grand instead of....much much more than that.

insert coin here:
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc

Open an exchange account at CampBX: options, lowest commissions, and best security
https://campbx.com/register.php?r=0Y7YxohTV0B
_Miracle
Hero Member
*****
Offline Offline

Activity: 500


Do due diligence


View Profile
January 29, 2014, 07:20:49 AM
 #7

I follow the advice of "know what you are investing in" and don't blindly trust brokers to "advise" you.

Suze Orman/Dave Ramsey are decent free places to begin to learn about money (they are very conservative, it's doubtful either of them will ever say "invest in bitcoin") .

Most of the Economists that I respect and follow don't understand bitcoin.
It's going to be awhile before we get  those perfectly blended specialists.

Suze Orman is a lesbian. How conservative can she be?

I hope you were being funny

Dave Ramsey is conservative, but I remember him advising people to use a mneymarket account rather than a checking account. This burned a few people in 2008 when Lheman Brothers failed. It would have burned a heluva lot more if not for the bail-outs. The guy also has gone nakrupt in the past and advises people to pay off all debt, starting with the smallest, regardless of the interest rate. Debt free makes no sense when bitcoin goes up about 10000%/ year, inflation is running three percent and my mortgage interest rate is 4.5%. If I had followed his advice, I would have sold all my bitcoin to pay off loans and I'd have a net worth of about 20 grand instead of....much much more than that.

Do you think that all of the bitcoin rich know the fundamentals of managing their money?

To be fair I should disclose to being insolvent (since the humor in my picture/text line may not be apparent to everyone). As a r.e. broker during "that" time I was highly invested. My home, my career, investment properties any other investments went poof. If you are "all in bitcoin", good on ya but that is not the way to go for everyone. Would I risk everything again? I've got nothing to lose right now.

Sometimes there's more truth in forums than anywhere else.  Twitter:  @cryptobitchicks   "I am expressing multiple attitudes simultaneously. To which are you referring?"
billyjoeallen
Legendary
*
Offline Offline

Activity: 980


Hide your women


View Profile WWW
January 29, 2014, 08:01:27 AM
 #8

I follow the advice of "know what you are investing in" and don't blindly trust brokers to "advise" you.

Suze Orman/Dave Ramsey are decent free places to begin to learn about money (they are very conservative, it's doubtful either of them will ever say "invest in bitcoin") .

Most of the Economists that I respect and follow don't understand bitcoin.
It's going to be awhile before we get  those perfectly blended specialists.

Suze Orman is a lesbian. How conservative can she be?

I hope you were being funny

Dave Ramsey is conservative, but I remember him advising people to use a mneymarket account rather than a checking account. This burned a few people in 2008 when Lheman Brothers failed. It would have burned a heluva lot more if not for the bail-outs. The guy also has gone nakrupt in the past and advises people to pay off all debt, starting with the smallest, regardless of the interest rate. Debt free makes no sense when bitcoin goes up about 10000%/ year, inflation is running three percent and my mortgage interest rate is 4.5%. If I had followed his advice, I would have sold all my bitcoin to pay off loans and I'd have a net worth of about 20 grand instead of....much much more than that.

Do you think that all of the bitcoin rich know the fundamentals of managing their money?

To be fair I should disclose to being insolvent (since the humor in my picture/text line may not be apparent to everyone). As a r.e. broker during "that" time I was highly invested. My home, my career, investment properties any other investments went poof. If you are "all in bitcoin", good on ya but that is not the way to go for everyone. Would I risk everything again? I've got nothing to lose right now.

Yeah, I was joking about Suze. The word "conservative" has so many meanings that it can be misleading. She is a dyke though, not that there's anything wrong with that.

Soooo, back to you being broke. I was too, but I maxed out my creditcards, and used dwolla to send the money to some magic trading card website in japan aaaand pooof! the market tanked ad I spent eighteen months looking like a dipshit before everyone realized how visionary and prescient I was to buy a krypt-o-currency. Sometimes it doesn't pay to be too far ahead of your time, but if you're right and you believe in yourself, you fucking hodl until you can tell em all to piss up a rope.

Look, the economy is going to tank again. None of the problems from "that time" have been fixed, only papered over. When the rot starts to show through again, the assholes in Washington are going to try to give the dying addict another shot of heroine (liquidity, whatever) and pray everything holds together until after the next election. Bitcoin is a credit default swap on the whole fucking ponziconomy. You may recall CDS investors were the only ones who did well in 2008 before the bail-out. it's a hedge, but if gold is a hedge horse, bitcoin is a hedge Lamborghini.

Orman and Ramsey are not economists. They are financial advisers, and mostly competent, but don't expect them to understand macroeconomics. It's not their field.

insert coin here:
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc

Open an exchange account at CampBX: options, lowest commissions, and best security
https://campbx.com/register.php?r=0Y7YxohTV0B
_Miracle
Hero Member
*****
Offline Offline

Activity: 500


Do due diligence


View Profile
January 29, 2014, 08:56:10 AM
 #9

Hayek.


Just watched this  http://www.youtube.com/watch?v=EWZXAypjt1o
Thank You! I'll start trying to read him too.

Billyjoeallen,

It was eye opening to see the things going on from the ground floor and I agree...this ain't over. Money as it is; isn't working. The bailouts, too big to fail? That was some messed up shtuff and if you think people get panicky here? You should have seen Zillow and Patrick.net 2007-8. Doomers and Cheerleaders.

There is a certain freedom in having nothing to lose, now if I can only get it UP to "nothing to lose" ;-). I consider this loss as tuition for the "lessons".
 When it comes to bitcoin the tech and the currency it would be nice to see it move forward...freely and for people to prosper.

Having lived amongst many newly wealthy (silicon valley) it becomes apparent that the general public, is not always money savvy.
Smart people, putting decades of accumulated stock options on the margin. One of them lost the stock to the margin call AND then owed taxes on the "gain".

So many things will change as bitcoin changes, so this is a learning time for everyone. Economist who are dismissing this now, are doing a disservice to their field.

Sometimes there's more truth in forums than anywhere else.  Twitter:  @cryptobitchicks   "I am expressing multiple attitudes simultaneously. To which are you referring?"
Misesian
Member
**
Offline Offline

Activity: 94


View Profile
January 29, 2014, 09:04:04 AM
 #10

like lots of early adopters, I follow the Austrian school or economics lead by Ludwig vonMises, Hayek and Murray Rothbard. I have done very well with bitcoin, but there is some controversy as to whether bitcoin follows the regression theorem. Some claim that money has to originate from a commodity that becomes the most marketable or liquid commodity, and then is traded as a proxy to solve the problem of double coincidence of wants.

I however argue that bitcoin is a commodity and not a money yet due to its high volatility. It has the greatest potential of becoming money for the same reasons gold became money, namely it is recognizable, divisible, portable, fungible and scarce. More-so than even gold. 

Jeffery Tucker is an economist in the Austrian vein and he agrees.

Maybe this will put your mind at rest http://consultingbyrpm.com/blog/2013/10/why-misesians-need-to-tread-cautiously-when-disparaging-bitcoin.html

Also you have to remember Bitcoin is so much more than a currency, it's a form of technology that redistributes control of money back to the people
billyjoeallen
Legendary
*
Offline Offline

Activity: 980


Hide your women


View Profile WWW
January 29, 2014, 11:44:29 AM
 #11

like lots of early adopters, I follow the Austrian school or economics lead by Ludwig vonMises, Hayek and Murray Rothbard. I have done very well with bitcoin, but there is some controversy as to whether bitcoin follows the regression theorem. Some claim that money has to originate from a commodity that becomes the most marketable or liquid commodity, and then is traded as a proxy to solve the problem of double coincidence of wants.

I however argue that bitcoin is a commodity and not a money yet due to its high volatility. It has the greatest potential of becoming money for the same reasons gold became money, namely it is recognizable, divisible, portable, fungible and scarce. More-so than even gold. 

Jeffery Tucker is an economist in the Austrian vein and he agrees.

Maybe this will put your mind at rest http://consultingbyrpm.com/blog/2013/10/why-misesians-need-to-tread-cautiously-when-disparaging-bitcoin.html

Also you have to remember Bitcoin is so much more than a currency, it's a form of technology that redistributes control of money back to the people

LOL. My mind was already at rest. I would sooner reject or more likely modify my belief in the regression theorem than my belief in bitcoin, but if that interpretation is correct, all bitcoin value is derived from pizza!  If that's not the coolest currency ever, then you're just not looking at it right.

insert coin here:
1Ctd7Na8qE7btyueEshAJF5C7ZqFWH11Wc

Open an exchange account at CampBX: options, lowest commissions, and best security
https://campbx.com/register.php?r=0Y7YxohTV0B
hilariousandco
Gold Member
Global Moderator
Legendary
*
Offline Offline

Activity: 1498


How does one bitcoin?


View Profile WWW
January 29, 2014, 01:40:10 PM
 #12

Hello i just wanted to ask, did you follow advices of any "economist" (or anybody somehow connected with economy, financial world, business etc.) in your life for a longer period (several years) and in multiple fields (stocks, gold prices, emerging markets, anything) and it payed off, that means that according to public "advices" made by this man or woman, you made more money than you lost (following his advices)?

Is there anyone? I find for example Jim Rogers quite good, he makes sense to me, but i really dont know if following his oppinions of the market brought anybody any money (i have known about him for just a short period of time so i really cant tell).



I don't follow anyone; I use my own initiative. A lot of so called economists are just making predictions based on speculation anyway. If you wait and follow somebody elses word you're likely to lose a lot of money.

Mikcik
Sr. Member
****
Offline Offline

Activity: 367


View Profile
January 30, 2014, 04:02:58 AM
 #13

Omg hayek is dead as far as i know, i meant someone like Jim Rogers, Marc Faber, Peter Schiff.... Nobody mentioned them here... thats weird.
_Miracle
Hero Member
*****
Offline Offline

Activity: 500


Do due diligence


View Profile
January 30, 2014, 04:39:22 AM
 #14


[/quote]LOL. My mind was already at rest. I would sooner reject or more likely modify my belief in the regression theorem than my belief in bitcoin, but if that interpretation is correct, all bitcoin value is derived from pizza!  If that's not the coolest currency ever, then you're just not looking at it right.
[/quote]

Yep.



Omg hayek is dead as far as i know, i meant someone like Jim Rogers, Marc Faber, Peter Schiff.... Nobody mentioned them here... thats weird.

In my real estate years I followed and studied most of The National Association of REALTORS economists and [mis]took them for truth.
Case/Shiller and Schiff were pointing out some "impossible" but retrospectively clear issues regarding real estate. Shiller and Schiff have my respect based on that direct experience. Neither of them are fans of bitcoin at the moment so any reference to either on this forum isn't always received well.

As stated: I respect them but their lack of understanding in the underlying technology of bitcoin is something that each addresses openly.

Can't wait until a geeky econ mind grasps this and can translate into something my average mind can understand.

Sometimes there's more truth in forums than anywhere else.  Twitter:  @cryptobitchicks   "I am expressing multiple attitudes simultaneously. To which are you referring?"
knightcoin
Full Member
***
Offline Offline

Activity: 238


Stand on the shoulders of giants


View Profile
January 30, 2014, 04:18:51 PM
 #15

I am not exactly "following" ... but Mr. Noah Silverman http://btcmath.com/about-us/ did makes me think about bitcoin beyond the mining field.

Firstly I do like to listen people who share the same enthusiasm because there is no idea, no ideology, product, company, etc that can go ahead without these kind of people. But it doesn't means to have your head above the clouds either. Grin Anyways I do like to listen opinions from regular people in the crowd before makes any investment  ... Actually some studies suggest that tracking 7 nodes is enough to predict the direction of the whole crowd. ( think something like to each bird or fish keeping a fixed distance to the nearest bird or fish.)

http://www.introversion.co.uk/
mit/x11 licence 18.x/16|o|3ffe ::71
jubalix
Legendary
*
Offline Offline

Activity: 1680


View Profile
January 30, 2014, 11:30:35 PM
 #16

I follow the advice of "know what you are investing in" and don't blindly trust brokers to "advise" you.

Suze Orman/Dave Ramsey are decent free places to begin to learn about money (they are very conservative, it's doubtful either of them will ever say "invest in bitcoin") .

Most of the Economists that I respect and follow don't understand bitcoin.
It's going to be awhile before we get  those perfectly blended specialists.

Suze Orman is a lesbian. How conservative can she be?

Dave Ramsey is conservative, but I remember him advising people to use a mneymarket account rather than a checking account. This burned a few people in 2008 when Lheman Brothers failed. It would have burned a heluva lot more if not for the bail-outs. The guy also has gone nakrupt in the past and advises people to pay off all debt, starting with the smallest, regardless of the interest rate. Debt free makes no sense when bitcoin goes up about 10000%/ year, inflation is running three percent and my mortgage interest rate is 4.5%. If I had followed his advice, I would have sold all my bitcoin to pay off loans and I'd have a net worth of about 20 grand instead of....much much more than that.

I thought being a lesbian was conservative these days, in any event what has one sexual preference got to do with conservatism in economics?

Admitted Practicing Lawyer::BTC/Crypto Specialist.
B.Engineering/B.Laws
asfbhero
Jr. Member
*
Offline Offline

Activity: 48


View Profile
February 08, 2014, 02:27:30 AM
 #17

I started studying economics when I was 14, and have continued ever since (over a decade of immersive study).  So far my forecasts have saved my parents retirement money from the crash in 2008, paid for college by shorting financials starting in 2007.  Paid for all life's expenses, and lots of partying by buying the dip in gold caused by the crash.  Earned a modest living, and built up some savings by trading currencies during and after college.  Now, my favorite economist plans to exploit the biggest, most revolutionary, and lucrative opportunity he has seen yet to build a career and a life. (I studied every school o thought on economics I could find, and still do).   It has been my passion for over a decade, and will be until the day I die. 

I don't see how anyone can follow others advice.  At least if I'm wrong about something I learn something, and become a better economist.  Own your trades/investments people.  Sorry if this sounds like bragging.. it is a little, but my main point is  never to follow economists, take their different theories, into account, along with your own, and make your own choices.
conspirosphere.tk
Legendary
*
Offline Offline

Activity: 2226


Revolution will be decentralized


View Profile
February 08, 2014, 10:21:01 AM
 #18

The Mogambo Guru made me see the light in 2007.
djarot
Sr. Member
****
Offline Offline

Activity: 350


View Profile
February 08, 2014, 11:49:38 AM
 #19

Ludwig von Mises
j3steven
Member
**
Offline Offline

Activity: 112


View Profile
February 08, 2014, 12:43:38 PM
 #20

Never followed one person and talked to many.  I think making the right investments is also about each persons situation so you could get a little different correct answers to that questions.  Being in real estate and investing in trades has opened my eyes & ears to all sorts of new channels of information.

Pages: [1] 2 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!