4 ms·

Balaji: I just burned a million to tell you they're printing trillions

12 points by rottencupcakes 3y ago

erikig 3y ago
"Burned" is not quite accurate; I'm glad the funds were verifiably donated to worthy causes.
hammyhavoc 3y ago
The amount of blue checks in that thread speaks volumes. Lmao.
dopamean 3y ago
I dont understand this dude. He could have just made this video without the stupid bet. Are we supposed to believe it was just intended to get our attention? The only attention it got was of people who already follow him. This all seems so dumb. What am I missing?
- hammyhavoc 3y ago
  Number go up. Now's a good time to dump the HODL'd diamondhands.
- wmf 3y ago
  I've seen plenty of outside attention for his bet but everyone missed the point (hyperinflation) so it was wasted attention.
- BaseballPhysics 3y ago
  > Are we supposed to believe it was just intended to get our attention? That's literally all he and his peers do: desperately seek out attention. So yes, that's entirely believable.
tyre 3y ago
No he didn't. It was a publicity stunt with shades of market manipulation. He holds a large position in BTC and made a public bet to pump the value of that BTC. If he believed that BTC would go to $1m or whatever, he could have made tremendously more money by buying $1m worth of BTC. If he wanted to sell at that point to donate to charity or run ads for his podcast, he could. I don't know what makes Balaji so compelling that people keep falling for this charlatan.
majormajor 3y ago
Pump up and hype BTC by making the bet. Pump up and hype it by spinning it when your claim doesn't come true. I was wondering what the spin would be, but here it is. If you're trying to run a game against true believers instead of just make an argument against non-believers, this is a MUCH more effective strategy. ("If trading, too early is being wrong. But if preparing, hell is truth seen too late. So I don't care that much about timing. Being early on something like this is being right." - this isn't an attempt to convince the people who believe he's "wrong", not "early", it's preaching to the choir.)
smartbit 3y ago
Written text including links https://balajis.com/fiat/ https://balajis.com/fiat/
neximo64 3y ago
Balaji would have gotten more attention if he went through the original bet as is. This will just barely get the limelight. Only thing I see is there was no conviction, and today the price isn't $1m.
BaseballPhysics 3y ago
Why is anyone paying attention to this guy? I have yet to see evidence he's done anything meaningful any time recently other than promote himself and crypto grifts. Is it just because his name is attached to a16z and Coinbase (which will inevitably be shut down for enabling trading in unregistered securities)?

erikig 3y ago

"Burned" is not quite accurate; I'm glad the funds were verifiably donated to worthy causes.

hammyhavoc 3y ago

The amount of blue checks in that thread speaks volumes. Lmao.

dopamean 3y ago

I dont understand this dude. He could have just made this video without the stupid bet. Are we supposed to believe it was just intended to get our attention? The only attention it got was of people who already follow him. This all seems so dumb. What am I missing?

hammyhavoc 3y ago
Number go up. Now's a good time to dump the HODL'd diamondhands.
wmf 3y ago
I've seen plenty of outside attention for his bet but everyone missed the point (hyperinflation) so it was wasted attention.
BaseballPhysics 3y ago
> Are we supposed to believe it was just intended to get our attention? That's literally all he and his peers do: desperately seek out attention. So yes, that's entirely believable.

tyre 3y ago

No he didn't. It was a publicity stunt with shades of market manipulation. He holds a large position in BTC and made a public bet to pump the value of that BTC. If he believed that BTC would go to $1m or whatever, he could have made tremendously more money by buying $1m worth of BTC. If he wanted to sell at that point to donate to charity or run ads for his podcast, he could. I don't know what makes Balaji so compelling that people keep falling for this charlatan.

majormajor 3y ago

Pump up and hype BTC by making the bet. Pump up and hype it by spinning it when your claim doesn't come true. I was wondering what the spin would be, but here it is. If you're trying to run a game against true believers instead of just make an argument against non-believers, this is a MUCH more effective strategy. ("If trading, too early is being wrong. But if preparing, hell is truth seen too late. So I don't care that much about timing. Being early on something like this is being right." - this isn't an attempt to convince the people who believe he's "wrong", not "early", it's preaching to the choir.)

smartbit 3y ago

Written text including links https://balajis.com/fiat/ https://balajis.com/fiat/

neximo64 3y ago

Balaji would have gotten more attention if he went through the original bet as is. This will just barely get the limelight. Only thing I see is there was no conviction, and today the price isn't $1m.

BaseballPhysics 3y ago

Why is anyone paying attention to this guy? I have yet to see evidence he's done anything meaningful any time recently other than promote himself and crypto grifts. Is it just because his name is attached to a16z and Coinbase (which will inevitably be shut down for enabling trading in unregistered securities)?