Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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E124: AutoGPT's massive potential and risk, AI regulation, Bob Lee/SF update
3,878 views Apr 14, 2023 All-In with Chamath, Jason, Sacks & Friedberg
https://youtu.be/i1gMhEUXeNk
I hadn't seen that, but it's the same as some of the regulated Bitcoin related futures derivatives available in the US. It isn't the same as trading directly in Bitcoin.
LCH, the clearinghouse arm of the London Stock Exchange Group, will offer clearing services for cash-settled Bitcoin (BTC) index futures and options, the company said in a statement Thursday.
https://www.coindesk.com/policy/2023/04/13/london-stock-exchange-unit-to-clear-bitcoin-index-futures-options/
US inflation is coming down
PPI Inflation Report, Stagflation & Economic Crisis | Meet Kevin Report 81 [4/13/23]
13,121 views Streamed live 98 minutes ago
https://www.youtube.com/live/jIO4aXwKtyo?feature=share
Raise in May and go away ? One and done ? or will the FED just pause ?
The R word was mentioned a few times by the FED yesterday so they will be happy to see that PPI report
"Bitcoin and Crypto represents a growing percentage of voters in the US and other countries"
I don't see a clampdown on crypto affecting voter intentions, since it'll be the regulators chipping away at the sector. The sector will probably suffer death by a thousand cuts, with life getting gradually more difficult, over time, for Fiat/Crypto on and off ramping.
The US have taken aim at Crypto friendly Banks, Crypto Exchanges and to some extent the BTC miners in Q1 this year.
Bitcoin and Crypto represents a growing percentage of voters in the US and other countries and any clamp down on the ability to choose to hold and transact in crypto would presumably impact on voters which makes it unlikely to see any cavalry charge on voters imo...
I could be wrong about the US but there are plenty of other countries that are BTC friendly which will more than likely welcome miners, exchanges and crypto Banks ...
https://www.zippia.com/advice/cryptocurrency-statistics/#:~:text=There%20are%20about%2045%20million%20American%20crypto%20users,420%20million%20global%20crypto%20users%20as%20of%202023.
"I think we can safely say it has value even if not everyone agrees"
It wont stop them regulating it to death down the road. The US Regulatory Cavalry are lining up to charge the Crypto positions, and Crypto has little or no defence against such overwhelming forces.
BitcoinBull made the case on the QBT board today that by selling BTC recently the US Gov attributed value to it whilst legitimising it's use at the same time....
U.S. Government Sells Bitcoin Seized From Silk Road Case, Netting Over $215 Million
https://www.forbes.com/sites/brandonkochkodin/2023/03/31/us-government-sells-bitcoin-seized-from-silk-road-case-netting-over-215-million/?sh=42500f52888e
I think we can safely say it has value even if not everyone agrees ;-)
People invest in all manner of things...
Because I don't see value in them doesn't mean they do not hold value to someone else. Bitcoin or in this chat's case BTC is simple one of those things that some people, companies and even countries deem as having value.
Nobody has to see value in BTC, the choice is to either see value or not, I don't see $2k an oz value in Gold but that's the price it has attributed to it and who am I to say it's pretty much a worthless shiny thing....
I get that you don't see value in BTC and that's ok, but you don't make the rules ;-)
"Early days and until inflation, recession, debt ceiling and military spend unravel BTC is just doing what it was built to do"
What was BTC built to do? First it was supposed to be a currency, then a store of value and now they're adding things like Ordinals to create another use case where there isn't any need for one. I don't get why people defend the indefensible around Bitcoin, it has no use whatsoever other than it's underlying Blockchain technology capable of storing data.
As I've stated on many occasions, Bitcoin's value is based entirely on what the next person is willing to pay for it; Bitcoin has no fundamental value, as it has no real world uses other than being bought and sold. In all honesty can you tell me what real world uses Bitcoin has, and how someone can use it to create and build stuff?
People compare Bitcoin to Gold, but Gold is a real world physical element with properties making it useful in many different ways, things like Jewellery, Electronics, Medicine, etc.
I bet anything you can suggest as a use for Bitcoin, can easily be argued against or alternatives created doing the same tasks. Bitcoin is worthless because it's nothing special, it's just painted as something special by vested interests.
If BTC goes to $1M due to failing USD, money printer go Brrr due to government spend and military increase ( suggestions coming out that the US industrial military complex needs to massively expand !?!) then holding some Sats might be the best play in town...
Early days and until inflation, recession, debt ceiling and military spend unravel BTC is just doing what it was built to do...
Offer people an alternative
"With all that and lot's more going on BTC seems a pretty good place to park some funds imo"
Everyone's free to spend their money as they please, as long as it's legal. As far as Bitcoin, any money used to purchase Satoshi's or Bitcoin is just a punt in my opinion and not what I'd consider an investment. As I've always said, anything that's easily replicated has no real value, and anyone with the relevant coding skills could create a Proof of Work Token similar to Bitcoin for very little cost; In my mind, this why Bitcoin value is based purely on belief and nothing more.
Fair enough if you're a believer then that's your choice, you pay your money you take your chance.
Personally I can't rationalise any va
Crypto in general sure it's leaky af and the pump and dumps, rug pulls, scammers and outright crooks are everywhere.
This being the BTC chat board and having the largest market cap 'should' make it one of the safest places to be...there are no guarantees in life well apart from death :-)
De dollarization being discussed openly, commercial real estate time bomb looming for Banks and pension funds, recessions looming, and WW3...
With all that and lot's more going on BTC seems a pretty good place to park some funds imo
"Maybe because having a bucket that may be leaky if you are not careful with it seems smarter than having no bucket"
The leaky bucket metaphor was in reference to fraud endemic within Crypto. There are other buckets like normal stocks and investments. I see Bitcoin is over $30,000 again, no doubt many more believers will be relieved of their cash. Eventually Crypto will run out of believers, as I said in a QBT post it's a matter of when not if.
'Why would anyone buy in to a leaky bucket?'
Maybe because having a bucket that may be leaky if you are not careful with it seems smarter than having no bucket ;-)
"A team at Chainplay notes that crypto investors worldwide have had over $30 billion stolen over the last decade. In 2022, there were 436 separate crypto crime incidents, more than four times the number reported in 2021 (94). Meanwhile, the amounts stolen during these crimes continues to rise, increasing by 46 percent between 2021 and 2022.
When you break down the nearly $12 billion stolen in 2022, that’s $1.4 million in cryptocurrency disappearing every hour from people’s accounts."
https://studyfinds.org/crypto-crime-lose-billions-2023/
Why would anyone buy in to a leaky bucket?
This chap echo's many of my sentiments.
https://markets.businessinsider.com/news/currencies/economy-without-bitcoin-negative-waste-money-costs-social-financial-effect-2023-4
Something for the weekend :-)
E123: Trump indictment, de-dollarization, should VCs back Chinese AI? RIP Bob Lee
All-In Podcast
333K subscribers
60,259 views Apr 7, 2023
https://youtu.be/Zf2tYNhq5J8
The last post came out wrong lol. If I connect together from the last posts, this is what I meant to say:
He makes perfect sense, apart from mentioning Bitcoin and Gold. I'd only ever put money into defensive stocks with pricing power.
Apart from Bitcoin and Gold. I'd only ever put money into defensive stocks with pricing power.
He makes perfect sense.
On the back of that OPEC Oil cut this Mark Moss video has a clip where Putin and Xi Jinping apparently discuss the once in a century change.. (I'm not fluent but I suspect MM would have checked the translation)
The Fed and US are Under Attack | This Is Bad
37,427 views Apr 5, 2023
https://youtu.be/vXGk7bWNy6c
Makes perfect sense to under attack in this way, we'll see if they keep tightening the screw on The US and Europe....
Ok, I'm watching the Kevin Video and as I'm typing it's just passed the section where he talks about the Goldman Sachs bull case for tech, but that makes absolutely no sense. I'll give you an example of why I disagree with that view, Google, Meta, etc rely on advertising and advertising is the first thing companies cut in a recession; He does make a reference about reductions in advertising revenue in tech and talks about possible earnings growth from AI. I can see a growth case for AI, like ChatGpt, due to its possibilities for increasing productivity and mainly because people like my Son will possibly pay for an enhanced service. All said, there may be growth opportunities in AI, but that's unrelated to issues around interest rates and recession.
In a high inflation environment, as he said pricing power is important and the best pricing power is in Utilities, Telecoms, etc. Look at Telecoms in the UK, most of the Communication providers are pushing through price increases of CPI+3.9% (currently around 14%) and that blows Goldman Sachs Tech rather than utilities theory out of the water. Pricing power sits with essential services, not take it or leave it stuff.
"OPEC news is an interesting development"
Indeed, if Oil goes too high then more inflation which means higher interest rates.
OPEC news is an interesting development ..
Send sleepy Joe out there again lol
Kevin
13,580 views Apr 3, 2023
https://youtu.be/lbjcU1tJTks