OILERMAN Posted February 21, 2021 Report Share Posted February 21, 2021 8 hours ago, patsplat said: It's sloppy analysis. Buffet and Munger literally called it shit. OilerTitanHybrid, and titanruss 1 1 Link to post Share on other sites More sharing options...
OILERMAN Posted February 21, 2021 Report Share Posted February 21, 2021 3 hours ago, abenjami said: That wasn't possible for him. Bitcoin isn't offered by his retirement plan as one of the investments. I have roughly 800k in a non retirement account that I could have put all into Bitcoin. If I was a stupid retarded moron that is abenjami 1 Link to post Share on other sites More sharing options...
OilerTitanHybrid Posted February 21, 2021 Report Share Posted February 21, 2021 29 minutes ago, OILERMAN said: Buffet and Munger literally called it shit. I remember Buffett saying he was given some bitcoin. Becky Quick asked him if he still had it. Buffett said no, he didn't have any bitcoin. He must have sold it as soon as he got it. lol OILERMAN 1 Link to post Share on other sites More sharing options...
pat Posted February 21, 2021 Report Share Posted February 21, 2021 54 minutes ago, OILERMAN said: Buffet and Munger literally called it shit. Those geezers have forgotten more about money than I'll ever know. Go to them for fundamentals but not the future. Buffet missed on Google, fwiw. OilerTitanHybrid 1 Link to post Share on other sites More sharing options...
OzTitan Posted February 21, 2021 Report Share Posted February 21, 2021 13 hours ago, Hooty_McBoob said: I saw Bongo touting Bitcoin on the NFL page. Someone talk me off a ledge because now I wanna sell all my Bitcoin. That should be a good sign for BTC holders, that the easily influenced folk are starting to buy in. Link to post Share on other sites More sharing options...
titanruss Posted February 21, 2021 Report Share Posted February 21, 2021 4 hours ago, OILERMAN said: Buffet and Munger literally called it shit. A 90 and a 97 year old don't understand modern tech??? No fucking way... it's not stocks... it's not their monetary system... it's not their wheelhouse. pat, and Supdawg 2 Link to post Share on other sites More sharing options...
titanruss Posted February 21, 2021 Report Share Posted February 21, 2021 4 hours ago, OILERMAN said: I have roughly 800k in a non retirement account that I could have put all into Bitcoin. If I was a stupid retarded moron that is Or you just buy 1 or 2 now and come back to celebrate/ eat crow later. Supdawg 1 Link to post Share on other sites More sharing options...
titanruss Posted February 21, 2021 Report Share Posted February 21, 2021 BTC is now a top 15 world currency and the 8th largest asset in the world. https://companiesmarketcap.com/assets-by-market-cap/ https://fiatmarketcap.com Very likely to be top 10 and top 5 within a year. Link to post Share on other sites More sharing options...
Supdawg Posted February 21, 2021 Report Share Posted February 21, 2021 Oman, take 1% of the 800K and put it into Bitcoin. You obviously don't need the money and that 8K investment will likely turn into 160K at some point in the next 5-10 years. That trade even in the impossible event Bitcoin goes to 0$ , still has a risk to reward ratio of 17:1. Asymmetric upside. There is a reason everyone is saying you should have some exposure to Bitcoin. Even if you don't fully believe in it as a smart investor, you should open your mind to the possibility and hedge with some exposure. Link to post Share on other sites More sharing options...
Supdawg Posted February 21, 2021 Report Share Posted February 21, 2021 Link to post Share on other sites More sharing options...
OILERMAN Posted February 21, 2021 Report Share Posted February 21, 2021 Is there a way to short Bitcoin? wiscotitansfan 1 Link to post Share on other sites More sharing options...
Supdawg Posted February 21, 2021 Report Share Posted February 21, 2021 (edited) 2 hours ago, OILERMAN said: Is there a way to short Bitcoin? Lots of ways, we could use your liquidity. But in order to short Bitcoin, you'd have to actually buy some first. Phemex ByBit FTX Binance Bitfinex Bitmex Edited February 21, 2021 by Supdawg Link to post Share on other sites More sharing options...
Bongo59 Posted February 21, 2021 Report Share Posted February 21, 2021 Buffett and Monger understand compound interest when the balance sheet of the Fed made sense. It no longer does. So the ideas around compound interest have changed where time is not the most important factor. The asset with the highest Sharpe ratio is the wise choice during money printing. Consider this new way of thinking: In the context of capital budgeting, assume two alternative investments have the same upfront cost. 1. Investment Alpha BTC returns $100 per year for each of the next 5 years. 2. Investment Beta (Berkshire-Hathaway) returns $50 per year for each of the next 10 years. Based solely on this information, one should conclude that Alpha is preferred to Beta. Although the total cash returns are the same, the time value of money is better for Alpha than Beta. WHY? With Alpha, the money is returned sooner, allowing for enhanced reinvestment opportunities. Where you put that money should be in an asset growing as fast as possible to create new capital soonest. Since BITCOIN is a pristine source of collateral for the last 12 years, its SoV makes it an ideal way of how to use compounding because it allows you to discount your rates to get it. Of course, very few capital expenditure choices in the market are as clear-cut as Alpha and Beta. Therefore, accountants rely on precise mathematical techniques to quantify the time value of money. With BTC, this math is easy once you understand that as asset value rises it shrinks the need for time. Consider time and Buffett: The interest you’ll earn initially is a relatively small lever, but as time goes on, the lever becomes much bigger. The largest increases in value usually take place in the later years—that’s why patience is important when investing in most other assets. With Bitcoin, this rule is moot. Why? BTC has a high Sharpe ratio built into it while the assets Buffett invested in do not. After its halving its Sharpe ration stays above 2.5 for 12-18 months. Right now we have about 145 days left in this cycle. In the above example, over 33% of the added value takes place in the last 5 of the 47 years. Do you know Warren Buffett, one of the richest guys in the world in the old fiat system? The vast majority of his net wealth has come in the very latest years of his life. It took him roughly 56 years to build a net worth of $1 billion. It took him only 27 years after that to turn that $1 billion into nearly $60 billion—and for that, he largely has compound interest to thank. You can do the same when you add all your fiat assets into an SoV that is appreciating at 200% a year in the next five years of your life. You can be wiser than Buffett, because his model does not consider the cost of the money printing. It is counterintuitive to most because they do not understand how the log of numbers operates. ACHIMEDES LEVER IN BTC TERMS: With respect to BTC, the global economy is about 500 Trillion dollars = 5 x 10^12 One trillion = 1,000,000,000,000. So for BTC to move the global economy, the short lever length needs to 10^12 dollars plus one. To push the lever down to exert the force, 10^9 dollars would be needed to shift the global economy in a small fashion. BTC is now at 1x10^9 as of February 19, 2021. This means BTC now is the proper lever to move the world economy. If it can move the world economy, now it can change your life if you understand how to use it. Here is a great take on the dangers of using Buffett history as our only guide in finance: Hindsight, the ability to explain the past, gives us the illusion that the world is fully understandable. It gives us the illusion that the world makes sense, even when it doesn’t make sense when the environment has changed because new hard money showed up and grew 200% a year for 12 years. When a big change like that occurs Buffett's model needs to be updated. So far, no one model has taken this into account. That’s a big deal in producing mistakes in many fields.Here’s a useful analogy: Essentially the Fed is driving the car, which is the economy, only using the rearview mirror which is foggy, and the front windshield is opaque (you can’t see the future). How could the Fed possibly drive the car with any accuracy? What if we just let the car self adjust to the conditions of the road? History cannot be interpreted without the aid of imagination and intuition. The sheer quantity of evidence of how money-printing/debasement hurt the taxpayer is so overwhelming that selection is inevitable. Black Swan Wisdom teaches that sometimes an evolution in money occurs in leaps and bounds. This is precisely what BTC has done. A certain species was born 12 years ago with a new traits and features. For humankind, Satoshi's dream is now capable of changing Buffett's reality. Embracing the risk of compound interest using this asset very differently than Buffett did is the first step. Covid perhaps might be seen as some kind of adaptability test and pains during birth of this new way of thinking about SoV. These labor pains will clear a path for the early adopters to gain traction. OILERMAN 1 Link to post Share on other sites More sharing options...
Bongo59 Posted February 21, 2021 Report Share Posted February 21, 2021 The sooner one puts fiat money to work in BTC, the more time you have for compound interest to work in your favor. No matter your age, you can start making your money work for you and see the eighth wonder of the world for yourself. 84% of ultra-high-net worth individuals collect art, according to a 2019 Deloitte survey. It makes sense—contemporary art returned 13.6% per year over the last 25 years vs. 8.9 % for the S&P 500. What happens when these ultra high net worth people realize BTC returns 200% per year for over a decade? Example of this lesson: If you begin with 500K invested in BTC in 10/2020 and add 1000 dollars a month for ten years......and you got 99.99% return on your investment which is historically half of BTC annual return, what would you expect your return to be in ten years? ANSWER 524,015,142.08 Reality: BTC is up +300% since November 22nd. Just 3 months. Russel Okung got the message. Have you? Supdawg 1 Link to post Share on other sites More sharing options...
Bongo59 Posted February 21, 2021 Report Share Posted February 21, 2021 4 hours ago, Supdawg said: Lots of ways, we could use your liquidity. But in order to short Bitcoin, you'd have to actually buy some first. Phemex ByBit FTX Binance Bitfinex Bitmex Sure you can on the derivative markets but you'd get crushed right now. Short interest right now is non existent on the FTX Link to post Share on other sites More sharing options...
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