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17 Nov, 5 tweets, 2 min read
@Dr_Mario_MD I might be missing something about Bitcoin so I’d love to be corrected. My problems with Bitcoin being an effective currency are simple... (1/5)
@Dr_Mario_MD They are that 1) Bitcoin is not very good as a medium of exchange because you can buy much with it (I presume that’s because it’s too volatile for most merchants to use, but correct me if I’m wrong)... (2/5)
@Dr_Mario_MD 2) it’s not very good as a store-hold of wealth because it’s volatility is great and has little correlation with the prices of what I need to buy so owning it doesn’t protect my buying power, and... (3/5)
@Dr_Mario_MD 3) if it becomes successful enough to compete and be threatening enough to currencies that governments control, the governments will outlaw it and make it too dangerous to use. (4/5)
@Dr_Mario_MD Also, unlike gold which is the third highest reserve assets that central banks own, I can’t imagine central banks, big Institutional investors, businesses or multinational companies using it. If I’m wrong about these things I would love to be corrected. Thank you. (5/5)

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More from @RayDalio

Ray Dalio Profile picture
17 Oct
Seeing things through others’ eyes helps me understand perspectives that are beyond my own experience. Sean @Diddy Combs, who asked me to mentor him, has taught me a lot. He helped me see what it’s like to be black in America today. (1/5)
Being suppressed, discriminated against, and certainly not helped leaves one forced to choose between just continuing to take it or standing up and not taking it anymore. (2/5)
If one doesn’t want to take it, one has to choose whether to operate within the system or to try to tear it down. I respect Sean both for standing up and for doing it within the system in a way that has the potential to make a big impact. (3/5)
Read 5 tweets
Ray Dalio Profile picture
13 Oct
In most organizations, evaluations run in only one direction, with the manager assessing the managee. (1/4)
The managee typically disagrees with the assessment, especially if it is worse than his or her self-assessment, because most people believe themselves to be better than they really are. (2/4)
Managees also have opinions about managers that they wouldn’t dare bring up in most companies, so misunderstandings and resentments fester.

This perverse behavior undermines the effectiveness of the environment and the relationships between people. (3/4)
Read 4 tweets
Ray Dalio Profile picture
11 Oct
It helps to clarify whether the weakness or mistake under discussion is indicative of a trainee's total evaluation. One day I told one of our new research people what a good job I thought he was doing and how strong his thinking was. It was a very positive initial evaluation. 1/4
A few days later I heard him chatting away at length about stuff that wasn't related to work, so I warned him about the cost to his and our development if he regularly wasted time. Afterward I learned that he thought he was on the brink of being fired. (2/4)
My comment about his need for focus had nothing to do with my overall evaluation. Had I explained myself better when we sat down that second time, he could have put my comment into perspective. (3/4)
Read 4 tweets
Ray Dalio Profile picture
23 Sep
Now that my app Principles in Action is available on Android & iOS in the US, UK, Spain, India, and Germany, I want to highlight the real life cases that are available within the app. They will show you the principles in action at Bridgewater via a Case of the Week. (1/4) Image
If you were already using the app via iOS, you might have gone through these cases already. As we resurface this content for our new users, we'd love to hear your feedback and thoughts on the cases – I hope you'll share them here. (2/4)
While fear often leads people to hide their weaknesses, openly exploring them is an essential part of personal development. (3/4)
Read 4 tweets
Ray Dalio Profile picture
16 Sep
The relationship between the US and China is one of the three biggest forces that will impact our lives in many ways. (1/4)
Because I have had a lot of intimate contact with both countries and studied them in depth, I feel compelled to paint as honest and accurate a picture as I can... (2/4)
... even though I’ve been told that it’s risky to say the things I am saying given high level of emotions around the current US-China relationship. This picture will come to you in two installments which are part of my online series The Changing World Order. (3/4)
Read 4 tweets
Ray Dalio Profile picture
10 Sep
Eric - I’m thrilled that you are encouraging exploration of how to promote global prosperity for countries in a debtors trap. I assume you are including the United States in that category because it is. (1/4)
This problem happened millions of times throughout recorded history and the answer was always the same. (2/4)
Mechanistically, if the debt is in one’s own currency (as is true for Americans most or most Chinese) then the money will inevitably be printed, devalued and, to a lesser extent, the debts will be restructured. (3/4)
Read 4 tweets

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