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TESLA
Awesome take, Bochen. Really. All there and you know your stuff, 👍.
For me it's clear now that in the minds of the masses Bitcoin is being equated with Crypto, and they are in actuality two very different things. The Western financial hegemony WANTS people to equate crypto in general with BC and 'shady Russian gangsters' (the irony) because they are TERRIFIED of the true potential of decentralized finance and peer-to-peer transactions without all the greedy middlemen-- them-- taking their cut. Meantimes, they'll use that BC to destroy Normie and suck up as much real world assets while they can.
Just like 5G conspiracy theories abound as Western economies fall waaaay behind in the rollout and application of the tech. So they demonize it in Normie's mind, instead.
Sure, for now the crypto space is chock full of moon-boys, day trading idiots and greedy financial speculators; as well as shitty, worthless meme coins such as DOGE COIN (dog coin, right?) being hyped by talismans like Musk, etc. But the value of the underlying assets-tech that will power Web 3.0-- is undeniable. And those prepared to identify, invest in and hold certain key assets will reap the rewards as real world utility is adopted, and the cowboys are eventually squeezed out as the blockchain space regulates itself and takes over pretty much everything. Backed by solid real world economies who are interested in business, development and win-win. And it's becoming all too clear now who they are.
Property, business transactions all peer to peer. 'They' are TERRIFIED of this and will do everything 'they' can to thwart it. While folks in the hopes of getting rich are borrowing money to invest in the intelligence agencies' shady creation-- Bitcoin. As you've mentioned previously.
But it's really all about the technology of blockchain, Web 3.0 and smart-contracts. And anybody thinking that "they" can tax, control and manipulate this technology simply doesn't understand how blockchains and smart-contracts work. Best they can do is block FIAT on and FIAT off. The assets themselves will be remain and eventually be valuable as collateral after the collapse of the dollar and related currencies. If not, cashing the assets out in crypto friendly countries is always an option. Or both.
Bitcoin is another matter, and to use and promote it they need to keep the internet up and running. So they're trapped, really. And once China and the BRI nations get their own cybersystems and internet up and running and secured-- if they aren't, already-- even the internet plug pull option will no longer be available to the Legacy Powers.
My Dad, who is just retired, doesn't know the first thing about crypto, was telling me to use his referral code to sign up to the Voyager crypto trading app and how he has already made some quick easy passive income money from his first week of crypto trading, how he likes BTC but the fast risers are Shiba and Doggy coin (dogecoin)
I'm reminded back when I was a teenager and we were getting our dial up internet for free from the likes of NetZero, Kmart Bluelight, and the AOL-10 hour free CD ROM that was sent to us like every month... My Dad had heard of this "get paid to surf the web" thing from AllAdvantage where you download and run this ad banner on the bottom of your computer screen and for every hour you are online with the banner activate it paid you like 10 cents, but it was in the referrals that you could make some real money if you got enough people under you etc....
This is antidotal of course but when my Dad is now telling me to jump on the doggy coin bandwagon, you know its about to be game over soon
😂. I'm sure you're dad is cool and well-intentioned; it's scumbags like Elon Musk and Pied Pipers such as Raoul Pal and Mike Saylor that I'd be wary of who'll be cashing out at his expense.
Make sure you keep him quick on his toes and not get caught out by them 'hos.
@bochen2021 and @ultan-mcg:
This has been the best analysis of the topic I have read so far. Very well explained. Thank you for these insights!
I have been wary from the start with Bitcoin and have refrained from investing although I do see the value in the underlying Blockchain technology as well.
Now my money & time investments are completely in our homestead, family & friends.
Do you still invest money in the cryptocurrency or more general in the blockchain space and if so how do you go about it?
Updated-- file attachment hassle!
I got in 3 years ago on the advice of a friend who's a developer in the space, V. He recommended ERC-20 only, and not to touch Bitcoin; but there are other great projects out there, definitely. (DOT would be a good hedge, for example.)
You must research what's being adopted in the real world and not the hype coming outta guys like Musk, etc. Ignore them completely.
That initial investment, and haven't touched it since. Just watched. Nothing crazy, my wife keeps a close eye on the finances, but we're pretty happy with the results and have long since recouped the original investment. Lonnng since. Investing 101, right? NEVER gamble with more than you can afford to lose as someone mentioned already, above. And investing rule number 2: NEVER get greedy (and take out your original investment asap if you can.)
As for investing now? Jeez, wouldn't be for me and we're kinda in a hype phase but the boat hasn't sailed yet, (LINK, QUANT, VET, OCEAN, UBT, for example-- while all the focus is on Bitcoin, the REALLY valuable underlying technology is being overlooked with all the FOMO-- Fear Of Missing Out-- heads remortgaging their property to buy BC-- and big financial sector greed) and I'd never attempt to convince anyone one way or the other. You're already invested in the most important things by far, obviously. But if you wanna know more? This will get you started. And was written by an expert in the space I know who truly knows his stuff.
Main thing to remember is the term DECENTRALISED FINANCE-- this is what has the Legacy Financial Powers literally pooping in their silk panties. They are terrified of DeFi. But as time goes on you'll see them adopting to it because they can't do anything else short of pulling the plug-- which of course is always an option albeit a desperate one.
p.s. Many experts in the space say that for new investors coming to the space QUANT and LINK would be a very good start. ETH, too, of course-- but she's a-gettin' pricey, now. MUCH utility. Research these and see the utility. It's all out there in black and white.
Disclaimer: I am naaaaat a finnnnanceeeal advizzor, 😉.
Good luck. And back to the Domain before Metallicman launches another salvo from the Death Star in orbit aka The Moon!
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Anything Bitcoin can do, gold can do better.
Gold is great because at the end of the day you can always just take it at the point of a sword and nobody can argue after the fact, because you have the gold.
Be wary of bank "gold investments". It's not physical gold but paper gold. Same shit as that printed paper currency.
Your money is taken by the bank and in return they give you a piece of paper stating you have X amount of gold.
Interestingly, I've read somewhere that physical gold did not increase (in investment) as much as a Hermes Birkin handbag!!!
@ultan its almost like I am not surprised at all that Sakatoshi or whatever his name is translates to CIA or that government agencies are using in such a manner. Honestly I haven't bothered looking too much in depth on it besides a few wiki articles on what the blockchain is. I am probably way out in my suspicians lol. But yeah definitely smells like their is some sort of dodgy government involvement at some level to me any way
Quote from JustAnotherAsian on October 29, 2021, 11:00 amBe wary of bank "gold investments". It's not physical gold but paper gold. Same shit as that printed paper currency.
Your money is taken by the bank and in return they give you a piece of paper stating you have X amount of gold.
Interestingly, I've read somewhere that physical gold did not increase (in investment) as much as a Hermes Birkin handbag!!!
Yup that is how paper money started in the first place, people got tired of having to carry gold around, then banks started to form that offered the service of keeping the gold safe in vaults and issuing the client a piece of paper certifying that he held X amount of gold... so instead of carrying around a bunch of gold to trade (which was better than barter but still not very convenient) people instead just traded the paper deposits of gold instead.... then the banks got a funny idea of loaning more loaning more money than it actually had in gold deposits because not every customer was going to withdraw at the same time... that is how fractional reserve banking was born... for each dollar the bank actually has in deposit it can loan 9 more out of thin air that never even existed in the first place...
Speaking of gold, when Fort Knox was empty of gold and Brentwood came to end in early 70s that would have been the end of dollar as reserve currency but the US having all those military bases and aircraft carriers came up with the so called petrodollar hegemony... America cannot really directly tax the entire world, but the whole world needs energy in the form of oil and the Middle East had the most of it, so US hatched up the plan to offer the OPEC "protection" in exchange for their agreement to export only by accepting USD. This meant the rest of the world had to by extension use the USD as reserve currency and thereby allowing the US to harvest and usurp the wealth of the rest of the world for the last 50 years...those that didn't play this game got Saddam'd and Gadhafi'd
Now oil age is over one way or another its coming to end soon... US hatch up new plan, digital OPEC will be the semiconductor sanctions, long arm, and eventually a total chip ban/embargo against China...
Most people three years ago would not have thought that TSMC was going to be forced to drop Huawei and then kneel in front the US Empire by sharing its client secrets with the US, by being forced to technology transfer to America and building up fabs in Arizona etc... Soon the US will force TSMC to give priority to the US companies (GM, Ford, Intel, etc) and basically ban all business with Chinese firms.... (DJI, Xaomi, etc etc)
China spent more money buying IC chips than it did oil... so yes this is how the US plans to keep its dollar reserve status for the next say 20 years by tying it into the chip industry and basically in the age of the 4th industrial revolution and Internet of Things, everything needs a chip (5nm or less) and by controlling this semiconductor chokepoint the US can essentially force China and the rest of the world to keep propping it up for another 2 or 3 decades just like how the US used oil as economic hostage against the economies of the world for the last 50 years....
There is public pdf 700 page report that Google Chairman Eric Schmidt wrote to US congress right... He details how US can stay ahead of China technologically and economically by doing whatever it takes to deny China access to <14nm, and this is the critical threshold (anything like say 7nm and lower) where AI is really able to takeoff and shine...
AI is the final frontier, the nation that masters and dominates AI/AGI/etc first will get the decisive edge and most likely maintain it for the rest of the century... Solving deep AI is the penultimate solution to all other problems of the world, with that we can use it to solve for fusion, the climate situation, future pandemics, etc etc.... US is using all its leverages to make sure China never catches up in semiconductors so that it will also by extension be hopelessly behind in the application and deployment of future advanced AI and other advanced technologies...
