I read that the stock trader, who spotted the subprime mortgage bubble in 2008, and Peter Thiel, the Silicon Valley trader, are both dumping NVIDIA stock. Thiel also dumped TESLA stock, while the trader also dumped PALANTIR, Thiel's company's stock. 🤔
I have a neighbor who used to own a Tesla. He put in solar panels to help with the cost of powering the thing; the solar installers came back again and again because they screwed up something during the install. In the end, he traded the car in for two big pickups. 🫤
I wonder how much of a loss all three companies are running? 🤔
The thing about crypto is, in pretty much every form I'm aware of, there are two potential attack vectors that are very hard to defend against, in the sense that if they succeed there's pretty much no "and then what?" to repel or recover. One is breaking the cryptology scheme. The other is taking over a sufficient number of "miner" nodes (or clearninghouses, if you wish) such as to rewrite the books in your favor.
Both are considered to be "too hard," the former because of the computation time required and the latter because of the sheer number of targets that have to be taken down or over at once. But, note that neither of these is a strong active defense; they're situational. The intersection of quantum computing and AI could make for a very interesting challenge to those assumptions.
Anyway ... Crypto is very interesting in an abstract and intellectual sense. Viewing it as an asset in an asset-allocation framework is likely a good approach, and far be it for me to argue with Thiel et al. Me, I view it as a 21st-century tulip bulb.
There will be a company or two that will ride out the bubble. If I could pick that company I would buy everyone on this chain a pickup truck in two years. But...y'all best not wait for that truck. Just sayin'.
I read that the stock trader, who spotted the subprime mortgage bubble in 2008, and Peter Thiel, the Silicon Valley trader, are both dumping NVIDIA stock. Thiel also dumped TESLA stock, while the trader also dumped PALANTIR, Thiel's company's stock. 🤔
I have a neighbor who used to own a Tesla. He put in solar panels to help with the cost of powering the thing; the solar installers came back again and again because they screwed up something during the install. In the end, he traded the car in for two big pickups. 🫤
I wonder how much of a loss all three companies are running? 🤔
The thing about crypto is, in pretty much every form I'm aware of, there are two potential attack vectors that are very hard to defend against, in the sense that if they succeed there's pretty much no "and then what?" to repel or recover. One is breaking the cryptology scheme. The other is taking over a sufficient number of "miner" nodes (or clearninghouses, if you wish) such as to rewrite the books in your favor.
Both are considered to be "too hard," the former because of the computation time required and the latter because of the sheer number of targets that have to be taken down or over at once. But, note that neither of these is a strong active defense; they're situational. The intersection of quantum computing and AI could make for a very interesting challenge to those assumptions.
Anyway ... Crypto is very interesting in an abstract and intellectual sense. Viewing it as an asset in an asset-allocation framework is likely a good approach, and far be it for me to argue with Thiel et al. Me, I view it as a 21st-century tulip bulb.
There will be a company or two that will ride out the bubble. If I could pick that company I would buy everyone on this chain a pickup truck in two years. But...y'all best not wait for that truck. Just sayin'.
Yeah, I never bought into the idea of 'investing' in something that has no intrinsic value whatsoever...
Ponzi scheme. That is all.
Thanks for the doomshine. General. I mean that sincerely.