Spiral=bootstraps max?

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I am not behind one of the worst mults. I have zero mults. Jorr and Crest can confirm. But I now I see what I'm saying and I've just owned myself.

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Big dips in Bitcoin.

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Why are only 14 percent of black CPS 11th-graders proficient in English?

China changes its policy on crypto all the time. At some point people will realize that there is no way for governments to realistically stop Bitcoin.

I realize that all markets are driven by emotion to some degree, but Bitcoin seems especially vulnerable to emotional trading. Probably because a lot of it is held by unsophisticated investors.

You can trade in and out of various cryptocurrencies if you want. I'm sure some guys do very well doing that. But for me, Bitcoin is a long term hedge against catastrophe and the possible collapse of the U.S. Dollar. It's funny how the Dollar has taken a beating but most people aren't even aware of it.

I just want to keep about 1% or so of my net worth in Bitcoin as insurance. I'm not concerned about whether it's worth $10,000 or $100,000 in USD.

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Ecclesiastes 5:8

I'll also say that all of these memecoins, shitcoins, and jokecoins don't help. I'm a Bitcoin maximalist.

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Ecclesiastes 5:8

"If you want to do business in China, your company cannot be involved in anything related to Bitcoin" would cripple it. What is it good for then?

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You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

Do you think it's that easy to stop people from transacting anonymously? I guess you could shut down the Internet or start killing people. If stuff like that happens on a large scale most of us won't be worried about currency. Currency will be what you can eat.

I'll say again, respectfully, you're like Charlie Munger in that you can't imagine a world without some basic form of the current international hierarchy.

Charlie got lucky in where he was born and the time in which he lived. I may have as well. Maybe. I highly doubt a kid born today in Chicago will be that lucky.

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Ecclesiastes 5:8

You can't stop people from transacting anonymously. You can stop businesses from accepting or being involved in transactions. Look at how the US government pressured the financial institutions to stop making it easy to do offshore gambling.

I could use bitcoin to pay you for a pair of White Sox tickets but most of the value of bitcoin is gone if the White Sox can't accept bitcoin for a pair of White Sox tickets.

I don't know who Charlie Munger is, but the concept of a central government running a large piece of land isn't going away any time soon and if your argument for bitcoin is "Maybe countries won't exist one day" then I wouldn't put much more into your bitcoin investment.

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You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

I'm not a Bitcoin evangelist. Handle your assets as you see fit.

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Ecclesiastes 5:8

I actually think it's smart to have 1% of your assets in it but I would also have a target to sell and be happy taking your profit.

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You do not talk to me like that! I work too hard to deal with this stuff! I work too hard! I'm an important member of the CSFMB! I drive a Dodge Stratus!

Excellent advice.

A WEEK AGO!!!

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You know me like that.

Time to buy more!

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It's hard not to if you believe it.

Buy the panic.

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You know me like that.

I'm buying the panic.

Just bought in some more. Investment is starting to get real.

Somebody get Elon to Tweet something positive.

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You know me like that.

Don't you have to be concerned about what Bitcoin is worth if your goal it to have 1% of your net worth (presumably measured in USD) invested in Bitcoin?

i think the target demo is 12 year olds with their parent's binance login:

$ASS
$BOOB
$PUBE
$DICK
$SEC

somehow $ASS has $157,088,398 mkt cap across a quarter million addresses...post correction

people are still buying ass:

Bitcoin was at $65k on the 14th of April and now it's at $35k. The major cryptos have declined by about 40% in a week. That's crazy. China and Musk cashed out at the peak they helped create and now they're buying the dip that they manufactured.

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Be well

GO BEARS!!!

If ETH gets back to $4,000, I'm going to need a moment.

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You know me like that.

Watching the Fed Reserve Bank of Atlanta President. I feel like I should have sought out some more impactful career paths regarding the US Economy.

If this guy says "transitional" one more time, I'm going to lose it.

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You know me like that.

Jesus Christ, he just used "the new normal" twice. You're an economist!

If he says "The Bridge Phase", I will continue to lose it.

Good Lord - his quote is "Economic Data missing Expectations is to be Excpected".

Huh?

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You know me like that.

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This is really insane. This guy is still talking.

In a real way, I don't think people understand how little these talking heads know, the experts, I don't just mean the hosts that are paid to just read prompters.

Here's the secret to business school...the secret everyone already knows. The majority of those people were already wealthy to begin with.

They are just trying to figure out how to turn $3 million into, you know, retirement money.

The key to grad school, I feel like I’m doing a podcast now, is just to impress the people there that have money that you can make them more money because you’re smart and they don’t know what to do with their inheritance.

I should write a book. All The Things You Learned At Business School That You Aren’t Supposed To Talk About.

Those Bloomberg analysts are the people that were the worst in school. I’m ranting now but it’s true.
Maybe I will do this as a podcast.

Business School for people that actually care about the important parts.

The smart people that understand what is being discussed retired after a few years and live on an island now.

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You know me like that.

Eventually this stupid bubble will end and a lot of dopes will get hurt. Happens every 10 years and I look forward to it.

But a lot of dopes have made a lot of money, and changed their lives for the better.

Do you agree?

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I think the people that get hurt are not the ones I root against.

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You know me like that.

Sure, if they sold. A lot of people also get in at the top with money they can't afford to lose every time one of these bubbles gets crazy.

Of course not. The hedge funds buy low, pump, and then dump to suckers who buy at the top. This game has been played over and over again.

I am going to disagree with you. While I am not a fan of a general MBA degree, there is a lot to be gained from going through case studies and working on group projects with other grad students.

There is a ton to be gained from more technical focused business degrees - finance and accounting- where real skills are taught about tax, investment management, risk/return, financial accounting, audit, etc. I use stuff that I learned everyday, and it helped me climb the ladder to an officer level position within five years of graduating. It also made passing the CPA and CFA exams much easier.

Nearly every IPO call that I sit on is a company founded by incredibly smart business school grads. And they come up with some awesome ideas.

Now many will argue these folks would be successful without that grad degree. Hard for me to prove otherwise, but there is no way I am in my role without a grad degree.

No one in my grad classes was wealthy. They were all aspiring to be so.

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Hawaii (fuck) You

I was trying to be a bit controversial.

You are right in many respects. The case study classes were always the best and most educational. I use what I learned every day and I don't consider myself generationally wealthy nor am I living on an island so my very existence disproves my post.

I will say, though, that in my experience, I was out of the ordinary. I was someone with financial education (most of my classmates were foreign and engineers trying to get an MBA to transition into management). They were mostly wealthy as evidenced by the fact that they had gotten to the US for that level of education given the insanely competitive system for them to get into the best schools from where they were from.

Those aren't the wealthy ones that I was criticizing. There was also a group of people that just flat out had money and did not know what to do with it. They were actively networking with people to source their funds.

Many of the business cases one might read are very ambitious people with incredible ideas and a "partner" that is investing in those ideas.

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You know me like that.