Readit NewsLAMike commented on El Salvador abandons Bitcoin as legal tender ticotimes.net/2025/02/02/... · Posted by u/smallerfish
LAMike commented on El Salvador abandons Bitcoin as legal tender ticotimes.net/2025/02/02/... · Posted by u/smallerfish
LAMike commented on El Salvador abandons Bitcoin as legal tender ticotimes.net/2025/02/02/... · Posted by u/smallerfish
Except it has none of the properties of gold as an asset. The value of bitcoin is highly correlated with equities and anti-correlated with gold. It’s the opposite of what you want to be holding as a hedge against a stock market crash.
It is more rare than gold and getting more rare every 4 years.
What is the current supply of gold and what will it be in 2050?
LAMike commented on El Salvador abandons Bitcoin as legal tender ticotimes.net/2025/02/02/... · Posted by u/smallerfish
LAMike commented on El Salvador abandons Bitcoin as legal tender ticotimes.net/2025/02/02/... · Posted by u/smallerfish
LAMike commented on I am (not) a failure: Lessons learned from six failed startup attempts blog.rongarret.info/2025/... · Posted by u/lisper
LAMike commented on I am (not) a failure: Lessons learned from six failed startup attempts blog.rongarret.info/2025/... · Posted by u/lisper
No. That's another long story. I think bitcoin is basically a scam. (That's another essay I should probably write.)
This is not to say you can't make money at it. People make money on scams all the time. One might argue that it's a foundational element of the American economy. But when it comes to bitcoin, I understand the technology and its attendant risks too well for me to want to play that game.
What makes Bitcoin a scam?
LAMike commented on I am (not) a failure: Lessons learned from six failed startup attempts blog.rongarret.info/2025/... · Posted by u/lisper
LAMike commented on Nordstrom family to take company private bloomberg.com/news/articl... · Posted by u/ivewonyoung
Their real estate portfolio is at least 1-2B, w/ 2B in debt, they are buying the business at a ratio of 20 P/E.
Will be interesting to see how they do privately, good luck to them!
The only thing that separates BTC from all the derivative shitcoins is hype and stories we tell about it. Bitcoin is itself interchangeable with an infinite number of related algorithms/schemes.
Gold extraction definitely has its problems, but it's a fundamental element of the universe.
In 100 years, I know which one will definitely still hold value.