As always, enjoyed the conversation & appreciate you making time to have important discussion about #Bitcoin
Apologies for showing some effects of turkey coma & not making number of key points related to @brian_armstrong tweets
1/ Ability to store & transfer value on the Internet (Money Over Internet Protocol - #MOIP) is one of most important innovations of century
Will unlock creation of incredible wealth by eliminating need for trusted 3rd parties & rent-seeking middle men in financial transactions
Nov 24, 2020 • 9 tweets • 8 min read
9 years ago yesterday, the first #Bitcoin obituary was penned...
Since then, #Bitcoin has been declared dead nearly 400 times...
That said, I do agree w/ much of what Pomp said in his note about the extreme reaction in many sectors creating some values
Where we differ is on duration of the economic drawdown, the speed of the recovery... 1/@patricksouth@Twitter@APompliano Shape of recovery & format of govt/private assistance.
Highly likely that overly harsh response to #COVID19 threat causes extreme economic pain far beyond expectations and pushes already perilous global economic situation over edge into deep Recession (likely even Depression) 2/
May 3, 2019 • 6 tweets • 3 min read
1/ There are really no words for incredible stupidity coming out of #PTBarnumOfOurTime’s mouth these days (other than desperate people say/do desperate things)...
#ItsACar! Cars are mechanical systems and when they are used more they wear out faster and depreciate faster.
2/ the idea that a rapidly depreciating vehicle would appreciate is beyond ridiculous. The only cars that appreciate are those that happen to NOT get driven, worn out, wrecked etc. and become scarce... we have all heard the story of the 57 Chevy under tarp in barn after Vietnam
Nov 20, 2018 • 5 tweets • 1 min read
1/ Amazing to watch people spend time searching for a historical example of when someone was wrong to make a point that they are wrong about a current event
Makes no sense, as events are independent and past decision & outcome have no bearing on current decision & future outcome
2/Great Investors are wrong more than bad investors
Primarily b/c they make more decisions & take more positions. Bad investors are afraid to act because they’re afraid of being wrong
Great investors don’t care about being wrong because they know that best only right high 50%s