Cryptocurrency
-
FTX AND Titanic
Why did FTX collapse? Arrogance. Forget about wash trades. Forget about creating token value out of thin air. Those are the operational reasons. The reason FTX collapsed is because it’s leaders, Sam Bankman-Fried and Carolyn Ellison were young punks from the new Ivy League, who felt that the rules of humanity did not apply to…
-
All In on Bitcoin
I’ve spent some time today listening to Peter Schiff talk about Bitcoin and his arguments against this particular cryptocurrency. To begin with. I like listening to Peter Schiff. He’s one of the few economists out there who is able to communicate effectively without devolving into eco-babble. That’s probably why he has been a successful author.…
-
Rollercoasters and Renoir
Hey, cryptocurrency enthusiasts, are you enjoying the ride? Are rollercoasters too scary for you? I am afraid of rollercoasters. I don’t like them, at least not the modern day rollercoaster. I don’t want to die. But this rollercoaster is different. I don’t feel the fear. I have an odd sense of calm. I am enjoying…
-
Quit While You’re Ahead, Charlie
It doesn’t seem like Charles Munger, the billionaire, is smart enough to go away. Now you would think that someone who is a billionaire would be smart enough to walk away while he’s ahead, especially when he’s 98 years old. But he’s not. Since he’s not, we should take advantage of the opportunity that he’s…
-
Charlie’s Looking Out For Us
Here’s another laugher. Guy Spier, one of Warren Buffet and Charlie Munger’s puppets and mouthpieces, has rushed to the defense of Charlie Munger. Here it is, right here. He says that Charlie Munger did small investors a favor by calling Bitcoin “rat poison” back in 2013. He was looking out for us, you see. Charlie…
-
The Harlequin in the Corner
The latest laugher on Bitcoin comes from the Bank of England. I’m going to print two excerpts first, then comment. “The market capitalisation of crypto assets has grown tenfold since early 2020 to about $2.6tn, representing about 1% of global financial assets. About 0.1% of UK households’ wealth is in Bitcoin and similar crypto assets,…
-
Charles Munger: OMG, What is the World Coming To
Let’s talk about Charles Munger. I think everybody knows who he is. He is a modern day robber baron, the right hand man of Warren Buffett, robber baron extraordinaire. Charles Munger of course is also a Harvard graduate. You’d be disappointed in me if I didn’t bring that up. Let’s see what Charles Munger has…
-
Reforming Bitcoin
What Bitcoin desperately needs is a methodology to curb the speculation. In fact, all the cryptocurrencies need a methodology to curb the current speculation. Concomitant with that must exist the realization and actualization that Bitcoin and the other cryptocurrencies should be used as a store of value not as a medium of exchange. I suppose…
-
My Financial Advice
I don’t know how many of you are young out there, but I am going to give you some advice that’s going to make you rich. I want you to become filthy stinking rich at an age where you can enjoy it. I don’t want you to make the same mistakes that I made. With…
Cowboy Archer 