gitfan86

51 ms·

631.
by gitfan86 4y ago
Everyone is well aware that the USD is just a worthless piece of paper. No one is suggesting that owning gold is the path to riches. We are just pointing out that investing is crypto is no different than investing in Enron or Bernie Madoffs
632.
by gitfan86 4y ago
People can and do speculate on collectables. The difference is that there is underlying value in the collectable. There are people who would like to own a Babe Ruth signed baseball just because it is a unique piece of sports history and hav
633.
by gitfan86 4y ago
The only reason you cannot say Coinbase is isn't a scam is because it is impossible to prove that the people involved were lying in regards to the viability of crypto not being effectively a Ponzi scheme.
634.
by gitfan86 4y ago
The charitable take is that they are mimicking VCs. VCs regularly give money to companies on vague missions like "disrupt the vitamin delivery industry". The VCs don't really have a great understanding or confidence in exactl
635.
by gitfan86 4y ago
A lot of businesses simply don't make a profit under reasonable conditions. So managers at those businesses need to be unreasonable by definition.
636.
by gitfan86 4y ago
I would happily use Tether, Shib, beanie babies, USD as medium of exchange if I trusted that the exchange took place in a timeline I wanted. I'm not comfortable holding tether for more than a few minutes, and I'm not comfortable h
637.
by gitfan86 4y ago
Yes, her high level thesis is correct. Which is that technology is transforming the world and is incredibly valuable. But anyone following the stock market at all could have told you that companies like MSFT, AAPL, GOOG, have huge returns a
638.
by gitfan86 4y ago
The alternative these people had was to not exercise their shares. Do we know when those shares expired? Could they have waited until an exit to buy the options?
639.
by gitfan86 4y ago
You just have to ask. "Was the business plan was to keep getting VC money or crypto money for the next 5 years before being profitable." If the answer is yes, you should expect huge layoffs or bankruptcy in most cases.
640.
by gitfan86 4y ago
The goal is to sell 20M vehicles in 2030. They sold 0.93 in 2021. They are planning on Insurance,Energy,AI each to more than 10x. P/E is 40 currently. Historically very large companies have had P/E between 4-30. So the question is
641.
by gitfan86 4y ago
Active managers make way more money selling their fund and increasing deposits than actually beating the market. So they will do things like promote "downside protection", claiming that their returns will be close to Russel 2000,
642.
by gitfan86 4y ago
Good questions. Can they maintain the high performance culture without large stock compensation? The best option I see following a similar path is TSLA. They currently have 2% of us auto sales. The energy business is tiny, AI/FSD is co
643.
by gitfan86 4y ago
This sounds a bit like doom and gloom. While I don't disagree, it is important to look at AMZN after the dot com bubble burst. Traders fled, but people who believed in the company did very well.
644.
by gitfan86 4y ago
The internet has never been decentralized. ICANN and the government have always been central authorities that can control or shut it down. I'm not saying that it is good that Zuck has so much power or good that Google has a monopoly on
645.
by gitfan86 4y ago
The internet is valuable even though most of the traffic goes to a few sites. But that has nothing to do with decentralization. No one ever promoted the internet as useful because no site would ever be super popular. The value Bitcoin provi
646.
by gitfan86 4y ago
But the internet was never promoted as having value due to a large number of tier 1 networks. Bitcoin was created specifically as a way to counteract centralize control of money. The fact that many people store their crypto in central excha
647.
by gitfan86 4y ago
At one point crypto was about decentralization, and having advantages over the current banking system. But to your point it seems like it is no longer for most people, for most people crypto is about the price going up, regardless of centra
648.
by gitfan86 4y ago
So where would you draw the line? If a group of people created a perpetual motion machine community, would they deserver some funding? How can you prove that they are not going to discover new physics that allow energy generation from nothi
649.
by gitfan86 4y ago
True, but that is a moving target. https://ourworldindata.org/battery-price-decline
650.
by gitfan86 4y ago
Last week Elon explained that the problem of fusion is that it will be more expensive than solar and wind.
651.
by gitfan86 4y ago
If you are in the business of promoting your brand to young entrepreneurs, so that they include you in funding rounds, then yes, it makes sense to have exposure to anything that young entrepreneurs are working on. If you are in the business
652.
by gitfan86 4y ago
Either they are incompetent to realize that crypto is 99% a scam and should be avoided or they knew it was a scam but still thought they could make some money before it all fell apart (Coinbase investors)
653.
by gitfan86 4y ago
Implying that the Porn industry has no overlap with Tech is a stretch. Over 30% of internet traffic is adult content.
654.
by gitfan86 4y ago
It is almost like 99.999% of the crypto people don't have computer engineering or computer science degrees or have never built a production system that requires concurrency and fault tolerance over a persistence layer. A system that va
655.
by gitfan86 4y ago
And how many Porn companies has YC funded? Zero as far as I know, is that because porn related companies have zero chance of being profitable? Or is it that they take a moral stance against that industry?
656.
by gitfan86 4y ago
I understand, there were some cases where #1 didn't even exist, The person at #2 edited the application without #1 knowing. But the #1 situation happened as well, sometimes because a realtor told them that was the only way they would g
657.
by gitfan86 4y ago
There are two parts to weight loss: 1. Physiological: This is relatively easy. The key is to understand how to get an accurate account of incoming calories and an accurate count of outgoing calories. When you have an accurate count of those
658.
by gitfan86 4y ago
Indirection seems to be very valuable with scams. The 2008 housing crash had a lot of layers: 1. Loan Application (Borrower Lying about income) 2. Mortgage Originator ( Not validating loan application ) 3. Mortgage Back Security Creators (
659.
by gitfan86 4y ago
The problem I have is that some of the content is really good. I have been able to lose weight consistently and easily because I found resources online that helped me understand the science and cut through all the bullshit that we are inund
660.
by gitfan86 4y ago
Being only 90% backed by cash isn't the problem. A lot of people could afford to lose 10%, if the money was evenly distributed. Tether would still be a scam in that situation, but it wouldn't destroy the crypto ecosystem. The ris

More ›