I met with a financially adviser the other week and I had to explain what mining was to them. That's when I realized I didn't need a financial adviser.My son is in tech and while riding our bikes one day he tried to explain to me why crypto currencies are a legitimate store of value. For the life of me I can’t understand it.
I‘ve been in business and finance my entire career and I’ve accepted that this is something that is beyond my ability to comprehend.
Congrats.
I'm down 3.5% today overall. ABML, HQGE, MVIS, NNDM, PLUG, RIDE, UAVS, WKHS all doggin' it. Almost everything in my portfolio is in the red.
someone watches Chico : )IC3 - Partners & Sponsors
IC3 (Initiative for cryptocurrency and Contract) is an initiative of faculty members at Cornell University, Cornell Tech, UC Berkeley, UIUC and the Technion. IC3 is collaborating with domain experts in finance and banking, entrepreneurs, regulators, and open source software communities to move...www.initc3.org
Ill leave this here and let you connect the dots. All roads lead back to chainlink. Oh my, what good company they keep.
love the deep dives!someone watches Chico : )
The interesting thing here is they're not intended to be a "store" in value. They're not a commodity. They're intended to be a currency.My son is in tech and while riding our bikes one day he tried to explain to me why crypto currencies are a legitimate store of value. For the life of me I can’t understand it.
I‘ve been in business and finance my entire career and I’ve accepted that this is something that is beyond my ability to comprehend.
Same story with me and my nephew. He explains and dabbles, I don't understand. Don't even get me started on "mining".
The interesting thing here is they're not intended to be a "store" in value. They're not a commodity. They're intended to be a currency.
A currency without any underlying store of value?
There might be a minor difference.You mean like the US dollar?
I'm still holding but been getting pummeled.I'm jumping on ABML.
Ha, ask the people that stored their bitcoin on a flash drive years ago and can't find it or on Mt. Gox. I'd rather dig a hole in the back yard than store my savings in crypto. However, I will give you this, in countries where the banking systems are crap, it almost makes sense.A currency without any underlying store of value?
You mean like the US dollar?
Sure but it’s still a house of cards that can tumble.Well, say what you want about the full faith and credit of the US Treasury......but that counts for something.
For those who do not understand crypto, three simple points.
1. Some thing have value in use others value in exchange. The two are not necessarily correlated.
2. Anything with very high value in exchange but low value in use will maintain its value as long as someone is willing to pay.
3 The is nothing wrong with 'greater fool' investing so long as you are not the 'greater fool'.
I'm still holding but been getting pummeled.
Dutch Tulip Bulb Market Bubble Definition (investopedia.com)My son is in tech and while riding our bikes one day he tried to explain to me why crypto currencies are a legitimate store of value. For the life of me I can’t understand it.
I‘ve been in business and finance my entire career and I’ve accepted that this is something that is beyond my ability to comprehend.