I will admit I have not listened to Peter Schiff much but I did recently listen to him on Tucker’s podcast. It kind of amazes me that he equates good money to having utility when that’s clearly a BAD thing. You don’t want real estate or food or oil or ammo to be your money. There are many properties of gold that make it good money but utility is NOT one of them. But he sort of has to latch on to that because it’s the only thing he can point to when comparing gold to bitcoin

The ETFs trade at a share price and not $87000. It’s easier for noobs to wrap their brains around $65 per share. The unit bias problem is somewhat mitigated by the ETFs was my point

As a colleague of mine once opined - depending on the team it’s either condoms for vets or condoms for homeless - either way the govt is wasting money on something

It was a goddamn travesty when nasa named their space shuttle Endeavor instead of Victoria.

All the more reason for those people to start with the ETFs

Got my Quality Learing Center hoodie yesterday. It’s better quality than I expected!

I wonder if bitcoiners realize they sound like gold bugs over the last 30 years? I don’t think most of them are old enough to realize it. I don’t buy into the doomerism that everything is going to burn down and then bitcoiners rule the world. I mean maybe 🤷‍♂️ but that sounds like something that would happen over 5 generations and not in my lifetime. I feel like they glom onto these low probability events to give their life meaning with the hope that one day they will say “see! I was right!” If we are assigning probabilities TODAY, then it’s more likely Bitcoin fails than we see hyperbitcoinization. However, bitcoiners are directionally accurate so that’s been enough for me to join in

“Flowed like gravity” is nails on a chalkboard to a physicist

It probably isn’t fraud by the legal definition. It’s more like a shitcoin. I’m of the belief that companies should do something productive. Eventually they have to or will fail. My issue with most treasury companies is I don’t believe they actually are trying to do anything productive. I suppose they could so I can’t disagree with you on that. I think they’re all engaged in this ledge Ponzi scheme where they want you to buy equity in their company that does nothing and never will. Since they disclose that it’s not legal fraud. But it’s still a misallocation of capital which I can’t support. They should strive to do something productive with their time as we all should. Hodling bitcoin isn’t productive. Saylor knows this because he could use one of his own absurd analogies to deduce it

For young people, doing anything is always preferable to doing nothing. You don’t know where opportunities will arise. And if you currently have no opportunities then what the fuck are you waiting for? Might as well do something

I can strive to be an Olympic sprinter but it won’t happen. However I don’t go around trying to (fraudulently) get people to invest in my future as a sprinter

You should share your presentation

Great job Danny! Companies and individuals should strive to be productive. This is the part Saylor ignores. Selling debt to buy bitcoin is not productive. It’s obvious when taken to the extreme in a world where all companies just issue debt and buy bitcoin. It’s absurd. Yet if all companies strive to be productive in their own way then that makes sense. All treasury companies are garbage. Basically scams where insiders use their influence to acquire more bitcoin than they could otherwise do personally. Saylor pretends that these are real businesses trying to be productive and simply buying bitcoin. They aren’t and he knows it. Strategy’s preferreds do add value to the marketplace so let’s call them the exception.

The new system sounds like an improvement then. I mean it’s kinda like choosing between a punch in the arm or a kick in the nuts. One is better but neither would be more ideal

Um… women in Muslim countries have entered the chat