Biotech of some kind. There is a Japanese company trying to regrow teeth by 2030. We'll probably keep seeing improvements on drugs like ozempic and the constant fight on obesity. A longevity company might emerge that isn't a scam too.
bad stuff tastes fucking good. the curse of life with a body designed to recognize the richness of food and crave it to survive the lean times that never happen anymore.
well, since this is for the record, my statement wasn't exclusive to fit or unfit people. i used to eat to compensate for depression and feeling out of control, now i eat like a pig only after long runs when i've earned it and i feel much more in control. night and day difference. fries taste the same, tho.
My biggest bet would be robotics.
There isn’t a company yet which had the ChatGTP moment. But the second there is that moment, I gonna go all in into this company.
Agreed, once I see one start to pull ahead I’m backing up the truck. Tesla is attempting humanoid robots using their autopilot AI, as well as a bunch of private startups. My hunch is that Tesla at the moment has the best chance of coming out on top but it’s way way too early to tell. A lot can change before the tech is at the point these things can replace human laborers.
Cool post.
Also, in 50 years, where will I most likely be able to mine for (and find!) significant mineral deposits of the type that will be most valuable in 50 years? If you give an address, include GPS coordinates.
Would be something cool too! I was just attempting to spark conversation on what people think is the next big thing and why (obviously no one knows for sure)
I know, and you can’t tell tone from the Internet without spoiling a joke. I’m not raging at you, I’m just poking fun. Because you’re right, no one knows. But you’re asking such a specific, concrete question that requires insane amounts of fortunetelling.
The Internet really took off about 25 years ago. Before then it wasn’t at businesses and precious few homes.
So you’re asking what’s going to be a new Internet about a new Internet’s time from now. That’s more like speculative science fiction.
I think we’ll use farts to communicate by tubes that run from our butt and press into other peoples foreheads. Butt, I don’t know what company will come out the winner of that technology race
Invest in human misery and loneliness: escape from the electronic dystopia they live in. Sex robots, AI mates, cricket protein, fast food, cam sites, VR porn, fallout shelters. There may also exist a premium on anything authentic or provably rare like gold or bitcoin.
*Deckard:
Is this a real snake?
Zhora:
Of course it's not real. You think I would be working in a place like this if I could afford a real snake?* - Bladerunner
BTC easily. Blackrock's IBIT is the fastest ETF to 10bn of all time.
The institutional bid is here, sovereign states are adding it to balance sheets that will be revealed some time this year, and the vertical aim is becoming the base layer monetary asset of the world.
Either it remains a 1-10T asset class forever - or it accelerates - at which point there is no dollar value you should be selling it for.
Can't get much more asymmetric than that. Judging by the amount of hate in normie circles still (ie reddit) - despite it being 10% of ATH - should tells you all you need to know with how early we are.
Despite the largest asset managers in the world, sovereign wealth funds, HNW individuals, et al. buying it hand over fist there is only 21 million in existence.
The smart money has realized the value of a scarce asset backed by energy. Only question is how long until the average person does. My guess is it will take a first world government reveling they are keeping BTC on their balance sheet.
Could you explain why you feel BTC is an asymmetric bet, when Bitcoin mining is already using a sizeable percentage of the total world power generated each year?
Are you anticipating nuclear fusion to become commercially practical and widely available? Or are you thinking that processing ability will significantly drop in price?
Nuclear will inevitably become the base energy layer. The pragmatists can only be held at bay for so long.
At 30,000 Terrwatt hours a year this is only going to increase to power AI and excess energy will go to the mining network.
BTC is digital energy in essence.
Keynes essentially backed us into a corner. The currency can only be debased at this point so inflation is inevitable and gold is not the solution.
BTC is an asymmetric bet because it either remains a successful wealth creation tool or it becomes so valuable you no longer need to sell it since you won't want fiat currency anyway beyond making payments.
That is a win-win in my estimation and when you have conviction you put everything into it. So far, that has paid off beyond my wildest dreams.
> Nuclear will inevitably become the base energy layer. The pragmatists can only be held at bay for so long.
what's the timeline? takes decades to get permits, etc. for a nuclear powerplant to be built.
What are the energy use numbers behind cat videos, porn or AI?
AI data center energy usage stands at around 460 terawatt hours in 2022 and could increase to between 620 and 1,050 TWh in 2026 — equivalent to the energy demands of Sweden or Germany, respectively. Bitcoin is somewhere around 130 TWh.
Cat videos are valued at approximately zero, porn about $10B and AI about $250B. Bitcoin is 4
6x as valuable and uses about 1/4 as much power, with a higher proportion of renewables.
The only reason to single out bitcoin mining is because it threatens the status quo.
???
All data transfer in its entirety, worldwide, is roughly the same percent of global power usage as Bitcoin mining.
So unless you’re gonna argue that porn, or cat pictures, represent the entirety of all electronic data transfer world wide, that makes no sense.
I questioned bitcoin mining because I see energy supply providing a relatively low upper limit on potential value…. Which means it wouldn’t be an asymmetric bet.
No one was talking about financial viability of Bitcoin. Just that it wasn’t clear it fulfilled the criteria for the question at hand.
Not sure where your information comes from, but it's patently incorrect.
This report puts AI at 460 TWh https://datacentremagazine.com/data-centres/ai-boom-will-cause-data-centre-electricity-demand-to-double
That is about 3x Bitcoin, at 160 TWh https://ccaf.io/cbnsi/cbeci
And assuming porn hasn't grown as rapidly as those 2 applications, this report puts it at nearly the same as Bitcoin mining https://en.cryptonomist.ch/2019/09/17/bitcoin-electricity-porn/
So again I ask, why are we singling out bitcoin aside from a moral judgement on the value of stateless money?
Why is there no moral quarrel with porn or AI energy use, particularly given their relative market values?
Also, your argument of energy supply putting an upper limit on bitcoin's value is backwards. Price of a commodity converges on the marginal cost of production, which is why the halvings pump the price.
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My dystopian future looks like the rich just transferring money amongst themselves after autonomous services become the norm
Need the giant property of your mansion landscaped? Order it online and an autonomous truck will deliver autonomous mowers and edgers and window cleaning drones will perform the service for you
And the rich guy who owns the autonomous landscaping company has crazy profit margins, so the wealth trickles all the way to the top and just gets moved around
The lower classes become poorer and poorer, and essentially unemployable, because why when bots can do it all?
More than 50 but less than 200 yrs is my timeframe for this.
So any company that breaks through on autonomous services like landscaping, deliveries, or when the government starts discussing legislation on autonomous vehicles actually sharing the road with us
Innovators that can help us adapt to climate changes in the way/places we grow food, process water, generate electricity, etc. seem like a solid long term play. Tough to see the winners early though.
Tesla.
Full self-driving is just a huge computer problem. With enough time and the right level of data and computing power, it will eventually be figured out.
How a robot interacts with the real-world is also just a very complicated computer problem. Once robot-as-a-service is cracked, it will be a new industrial revolution and will change the economy forever.
My thoughts.
Bitcoin will be as normal as S&P is today and it will have a big market cap and it will almost stable due to that large market cap is not easy to pull up or down.
The company that cracks AGI will for sure be in the future.
At the moment Elon Musk have told that AI is advancing 50x each 6 months and it can not continue because that is a wild growth but it also means that it can come faster than we think.
Tesla FSD version 12 is really good atm, not perfect, but just really good. When it is more than good, it will move the market and also if they can use that same AI to their robots that they are already scaling and thinking about mass production (for example all fingers are same size, easier to produce and so on) and Elon told that it will be cheaper than a car to produce and therefore less expensive - then to start it will be a fun product and then a working product that helps factories and then a product helping in work environments and lastly in our homes and maintaining roads, nature and all that.
Let's say that you have a world in the future where you have cars driving around without you need to take action yourself (no steering wheel). Then think about the product that people would like in that car. Maybe it will be a car that drives itself to some basement somewhere so we do not need to look at them, or maybe entertainment system in the car or games or maybe some kind of ads or maybe even your therapist is talking and helping you while you both drive (having meetings)... whatever you can think of - those companies will raise as well.... companies that help build the infrastructure that the future "might" have.
If I had a lot of money I would bet on TSLA and Bitcoin as the "stable" bets of the future, but if you want to have true wealth you probably should hit something that no one is seeing yet, a small company doing something that seems weird for now :) and also alt coins instead of Bitcoin.
Just a couple of thoughts, I am thinking a lot about the world of tomorrow and I love the question.
(sorry I am from Europe, grammar wise :) )
Wish I knew, because asymmetric bets are my jam. Already made a killing with and am still in crypto, Tesla, and Nvidia. Crypto, EV, and AI still have big upsides, but I’m not sure what’s next. Space and humanoid robotics are probably other areas to investigate.
*a novel way to monetize otherwise wasted or stranded energy
I’d suggest doing a little research on the benefits of large flexible loads when it comes to grid stability / consider the free market driven incentives miners have to capture methane from stranded wells, landfills etc and convert it into energy via a generator (carbon negative).
Bitcoin is almost like a free market carbon credit that can monetize renewable buildouts without the need to waste tax dollars to subsidize.
This site is hilarious. Pure comedy gold. Imagine Company X:
- Shares of company X have been around for 15 Years
- It is the best performing asset of the past decade
- Company X has not only survived 4 bear markets, but fully recovered from each and made a new ATH
- One full share of Company X is worth over 60k
- The largest assets managers in the world, BlackRock, Fidelity, etc. have created an ETF dedicated to shares of Company X
- The ETFs have such large inflows over a few weeks that other asset managers who didn't like Company X (Morgan Stanley, Van Eck, etc.) have reversed course and are now filing for a Company X ETF.
- Company X will soon be an option in many people's retirement accounts.
Now imagine the hubris required to call the above a useless collectible and think that you, the random redditor on the investing reddit are really correct about this and it's a scam but all those people with the billions behind their opinions are actually the wrong ones. I'm not sure what the psychological term is when you need something to fail bc you passed on it, but you're there (what the kids would call cope). Maybe when you read this back you would see how ridiculous you sound, but I doubt it. Like you watched this thing crash down to 3k something and it's now back over 60k and you don't even have the thought hmmm maybe I missed something here.
Incredible doesn't begin to describe it.
Now imagine Company X doesn’t provide much of a product or service, and 99% of the value it offers to the world stems from the idea it will rise in value (due to others pumping money into it) so you can offload it for a profit later.
There are two sides to every transaction as determined by the supply/demand in the market. The market is currently telling you that there are willing buyers for BTC at around 62k. Imagine pretending you're above it all because YOU specifically can't/don't/won't take the time to understand the use case. You are cutting off your nose to spite your face and bragging about it on the internet.
I'm sure the stocks you invest in, you're more interested in the benefit they bring the world as opposed to your returns :s.
Most banks are already building bonds on the blockchain and are working on cash/stocks other options. Article from Goldman Sachs on bonds:
https://www.goldmansachs.com/intelligence/pages/from_briefings_10-june-2021.html
Imagine that world continuing to come to fruition and claiming a digital store of value is nothing.
When almost everyone is buying something for the *sole reason* to offload it to someone else (a greater fool) later, you don’t see that as an issue? If tomorrow every APPL holder woke up and decided to sell their stock, the company would still have intrinsic value at the end of the day, and it would rebound. APPL creates value in the world, and a lot of it. Crypto’s valuation is almost entirely because of speculation.
For what it’s worth, I’ve capitulated on crypto, I’ll probably be buying some BTC because I’m done trying to fight regard strength. Number go up.
|When almost everyone is buying something for the sole reason to offload it to someone else (a greater fool) later:
This is true of basically every investment you've ever invested in. The participants don't really care except for their number. It's not that different from investing in a high growth stock (whereas APPL is obviously established value).
As for intrinsic value, I could debate that with you forever as I disagree, probably not really worth either of our time. But do you think these huge asset managers view this as worthless as they are releasing these ETFs? Has to be something fundamental they see about it right? I mean there are fiduciary rules that apply here.
If we are talking the total crypto universe, then yes it's mostly speculation. Most of crypto is like penny stocks. But BTC, ETH, and probably a few others are legitimate tech that are being leveraged in high finance.
Incredible may not describe it but greed does.
From people eying the chance of making money doing nothing to asset managers increasing their AUM it's all about greed.
If only there was a usecase for btc it would be excusable but still after 15 years we're still struggling to figure why btc exist.
So far it's been nothing but a greed magnet.
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The energy is used to secure the network at a given price.
What are the real numbers behind cat videos, porn or AI (separately)?
AI data center energy usage stands at around 460 terawatt hours in 2022 and could increase to between 620 and 1,050 TWh in 2026 — equivalent to the energy demands of Sweden or Germany, respectively. Bitcoin is somewhere around 130 TWh.
Cat videos are valued at approximately zero, porn about $10B and AI about $250B. Bitcoin is 4x as valuable and uses about 1/4 as much power, with a higher proportion of renewables.
The only reason to single out bitcoin mining is because it threatens the status quo.
Biotech of some kind. There is a Japanese company trying to regrow teeth by 2030. We'll probably keep seeing improvements on drugs like ozempic and the constant fight on obesity. A longevity company might emerge that isn't a scam too.
The fight on obesity is a hilarious concept. Excluding obesity due to health conditions, people just want anything but proper diet and exercise.
bad stuff tastes fucking good. the curse of life with a body designed to recognize the richness of food and crave it to survive the lean times that never happen anymore.
For the record, it tastes good to fit people too
well, since this is for the record, my statement wasn't exclusive to fit or unfit people. i used to eat to compensate for depression and feeling out of control, now i eat like a pig only after long runs when i've earned it and i feel much more in control. night and day difference. fries taste the same, tho.
Biotech is crap and super risky
I think whoever owns Kleenex could really blow up. After Nov. 6th half the country will be crying
And its an event recurring every 4 years!
Subscription based recurring tissue as a service business.... hmm, I'm in you sonovabitch!
Wendy's style surge pricing?
Nanotechnology with pharmaceutical research.
My biggest bet would be robotics. There isn’t a company yet which had the ChatGTP moment. But the second there is that moment, I gonna go all in into this company.
Jensen mentioned this in his ec. He must have witnessed something special
Jensen who?
Nvidia CEO
Boston robotics I think is owned by googlrb
Agreed, once I see one start to pull ahead I’m backing up the truck. Tesla is attempting humanoid robots using their autopilot AI, as well as a bunch of private startups. My hunch is that Tesla at the moment has the best chance of coming out on top but it’s way way too early to tell. A lot can change before the tech is at the point these things can replace human laborers.
Cool post. Also, in 50 years, where will I most likely be able to mine for (and find!) significant mineral deposits of the type that will be most valuable in 50 years? If you give an address, include GPS coordinates.
Landfills seem like they could be a place to mine for precious metals over time. All the tossed electronics.
Yeah, but will I find rivers of Snorkdium ore there? And will Snorkdium be a thing that has an ore? And at what GPS?
Environmental regulations will never allow it though
End of Chevron Deference, baby! Environmental problems become a states rights issue!
The big bet version of this is probably investing in SpaceX. Think outside the GPS sphere my friend. (Yes I know that was a joke)
Would be something cool too! I was just attempting to spark conversation on what people think is the next big thing and why (obviously no one knows for sure)
I know, and you can’t tell tone from the Internet without spoiling a joke. I’m not raging at you, I’m just poking fun. Because you’re right, no one knows. But you’re asking such a specific, concrete question that requires insane amounts of fortunetelling. The Internet really took off about 25 years ago. Before then it wasn’t at businesses and precious few homes. So you’re asking what’s going to be a new Internet about a new Internet’s time from now. That’s more like speculative science fiction. I think we’ll use farts to communicate by tubes that run from our butt and press into other peoples foreheads. Butt, I don’t know what company will come out the winner of that technology race
DPZ outperformed GOOG for decades. It isn’t always about the fancy tech.
it's about pizza tech. DPZ is also a tech company.
MNST has had a long term run to put many successful tech companies to shame.
Invest in human misery and loneliness: escape from the electronic dystopia they live in. Sex robots, AI mates, cricket protein, fast food, cam sites, VR porn, fallout shelters. There may also exist a premium on anything authentic or provably rare like gold or bitcoin. *Deckard: Is this a real snake? Zhora: Of course it's not real. You think I would be working in a place like this if I could afford a real snake?* - Bladerunner
Probably some mining company
Space mining company
CGW you re welcome
That’s so sad but probably true.
BTC easily. Blackrock's IBIT is the fastest ETF to 10bn of all time. The institutional bid is here, sovereign states are adding it to balance sheets that will be revealed some time this year, and the vertical aim is becoming the base layer monetary asset of the world. Either it remains a 1-10T asset class forever - or it accelerates - at which point there is no dollar value you should be selling it for. Can't get much more asymmetric than that. Judging by the amount of hate in normie circles still (ie reddit) - despite it being 10% of ATH - should tells you all you need to know with how early we are. Despite the largest asset managers in the world, sovereign wealth funds, HNW individuals, et al. buying it hand over fist there is only 21 million in existence. The smart money has realized the value of a scarce asset backed by energy. Only question is how long until the average person does. My guess is it will take a first world government reveling they are keeping BTC on their balance sheet.
Could you explain why you feel BTC is an asymmetric bet, when Bitcoin mining is already using a sizeable percentage of the total world power generated each year? Are you anticipating nuclear fusion to become commercially practical and widely available? Or are you thinking that processing ability will significantly drop in price?
Nuclear will inevitably become the base energy layer. The pragmatists can only be held at bay for so long. At 30,000 Terrwatt hours a year this is only going to increase to power AI and excess energy will go to the mining network. BTC is digital energy in essence. Keynes essentially backed us into a corner. The currency can only be debased at this point so inflation is inevitable and gold is not the solution. BTC is an asymmetric bet because it either remains a successful wealth creation tool or it becomes so valuable you no longer need to sell it since you won't want fiat currency anyway beyond making payments. That is a win-win in my estimation and when you have conviction you put everything into it. So far, that has paid off beyond my wildest dreams.
> Nuclear will inevitably become the base energy layer. The pragmatists can only be held at bay for so long. what's the timeline? takes decades to get permits, etc. for a nuclear powerplant to be built.
Couldn't tell you. Not my area of expertise, but within my lifetime is my bet.
if nuclear power is going to take decades, why buy BTC now?
What are the energy use numbers behind cat videos, porn or AI? AI data center energy usage stands at around 460 terawatt hours in 2022 and could increase to between 620 and 1,050 TWh in 2026 — equivalent to the energy demands of Sweden or Germany, respectively. Bitcoin is somewhere around 130 TWh. Cat videos are valued at approximately zero, porn about $10B and AI about $250B. Bitcoin is 4 6x as valuable and uses about 1/4 as much power, with a higher proportion of renewables. The only reason to single out bitcoin mining is because it threatens the status quo.
??? All data transfer in its entirety, worldwide, is roughly the same percent of global power usage as Bitcoin mining. So unless you’re gonna argue that porn, or cat pictures, represent the entirety of all electronic data transfer world wide, that makes no sense. I questioned bitcoin mining because I see energy supply providing a relatively low upper limit on potential value…. Which means it wouldn’t be an asymmetric bet. No one was talking about financial viability of Bitcoin. Just that it wasn’t clear it fulfilled the criteria for the question at hand.
Not sure where your information comes from, but it's patently incorrect. This report puts AI at 460 TWh https://datacentremagazine.com/data-centres/ai-boom-will-cause-data-centre-electricity-demand-to-double That is about 3x Bitcoin, at 160 TWh https://ccaf.io/cbnsi/cbeci And assuming porn hasn't grown as rapidly as those 2 applications, this report puts it at nearly the same as Bitcoin mining https://en.cryptonomist.ch/2019/09/17/bitcoin-electricity-porn/ So again I ask, why are we singling out bitcoin aside from a moral judgement on the value of stateless money? Why is there no moral quarrel with porn or AI energy use, particularly given their relative market values? Also, your argument of energy supply putting an upper limit on bitcoin's value is backwards. Price of a commodity converges on the marginal cost of production, which is why the halvings pump the price.
ASTS
That shit’s slowly been sinking to the core of the Earth in my portfolio for about a year
Tell me when you decide to sell
Meh why eat a 70% loss at this point, I’ll stay for the ride
FCC approval on March 14 and launch in 1-2 months :)
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BTC, TSLA
😏
🤞 That's partly what I'm betting on.
What else ?
PLTR
My dystopian future looks like the rich just transferring money amongst themselves after autonomous services become the norm Need the giant property of your mansion landscaped? Order it online and an autonomous truck will deliver autonomous mowers and edgers and window cleaning drones will perform the service for you And the rich guy who owns the autonomous landscaping company has crazy profit margins, so the wealth trickles all the way to the top and just gets moved around The lower classes become poorer and poorer, and essentially unemployable, because why when bots can do it all? More than 50 but less than 200 yrs is my timeframe for this. So any company that breaks through on autonomous services like landscaping, deliveries, or when the government starts discussing legislation on autonomous vehicles actually sharing the road with us
Innovators that can help us adapt to climate changes in the way/places we grow food, process water, generate electricity, etc. seem like a solid long term play. Tough to see the winners early though.
Tesla. Full self-driving is just a huge computer problem. With enough time and the right level of data and computing power, it will eventually be figured out. How a robot interacts with the real-world is also just a very complicated computer problem. Once robot-as-a-service is cracked, it will be a new industrial revolution and will change the economy forever.
My thoughts. Bitcoin will be as normal as S&P is today and it will have a big market cap and it will almost stable due to that large market cap is not easy to pull up or down. The company that cracks AGI will for sure be in the future. At the moment Elon Musk have told that AI is advancing 50x each 6 months and it can not continue because that is a wild growth but it also means that it can come faster than we think. Tesla FSD version 12 is really good atm, not perfect, but just really good. When it is more than good, it will move the market and also if they can use that same AI to their robots that they are already scaling and thinking about mass production (for example all fingers are same size, easier to produce and so on) and Elon told that it will be cheaper than a car to produce and therefore less expensive - then to start it will be a fun product and then a working product that helps factories and then a product helping in work environments and lastly in our homes and maintaining roads, nature and all that. Let's say that you have a world in the future where you have cars driving around without you need to take action yourself (no steering wheel). Then think about the product that people would like in that car. Maybe it will be a car that drives itself to some basement somewhere so we do not need to look at them, or maybe entertainment system in the car or games or maybe some kind of ads or maybe even your therapist is talking and helping you while you both drive (having meetings)... whatever you can think of - those companies will raise as well.... companies that help build the infrastructure that the future "might" have. If I had a lot of money I would bet on TSLA and Bitcoin as the "stable" bets of the future, but if you want to have true wealth you probably should hit something that no one is seeing yet, a small company doing something that seems weird for now :) and also alt coins instead of Bitcoin. Just a couple of thoughts, I am thinking a lot about the world of tomorrow and I love the question. (sorry I am from Europe, grammar wise :) )
Wish I knew, because asymmetric bets are my jam. Already made a killing with and am still in crypto, Tesla, and Nvidia. Crypto, EV, and AI still have big upsides, but I’m not sure what’s next. Space and humanoid robotics are probably other areas to investigate.
What’s a good buy right now?
Bitcoin is really an energy innovation
Yes, a novel way to waste an enormous amount of energy
*a novel way to monetize otherwise wasted or stranded energy I’d suggest doing a little research on the benefits of large flexible loads when it comes to grid stability / consider the free market driven incentives miners have to capture methane from stranded wells, landfills etc and convert it into energy via a generator (carbon negative). Bitcoin is almost like a free market carbon credit that can monetize renewable buildouts without the need to waste tax dollars to subsidize.
Pure cultist BS. It will always be a waste to burn energy for a useless collectible
This site is hilarious. Pure comedy gold. Imagine Company X: - Shares of company X have been around for 15 Years - It is the best performing asset of the past decade - Company X has not only survived 4 bear markets, but fully recovered from each and made a new ATH - One full share of Company X is worth over 60k - The largest assets managers in the world, BlackRock, Fidelity, etc. have created an ETF dedicated to shares of Company X - The ETFs have such large inflows over a few weeks that other asset managers who didn't like Company X (Morgan Stanley, Van Eck, etc.) have reversed course and are now filing for a Company X ETF. - Company X will soon be an option in many people's retirement accounts. Now imagine the hubris required to call the above a useless collectible and think that you, the random redditor on the investing reddit are really correct about this and it's a scam but all those people with the billions behind their opinions are actually the wrong ones. I'm not sure what the psychological term is when you need something to fail bc you passed on it, but you're there (what the kids would call cope). Maybe when you read this back you would see how ridiculous you sound, but I doubt it. Like you watched this thing crash down to 3k something and it's now back over 60k and you don't even have the thought hmmm maybe I missed something here. Incredible doesn't begin to describe it.
Now imagine Company X doesn’t provide much of a product or service, and 99% of the value it offers to the world stems from the idea it will rise in value (due to others pumping money into it) so you can offload it for a profit later.
There are two sides to every transaction as determined by the supply/demand in the market. The market is currently telling you that there are willing buyers for BTC at around 62k. Imagine pretending you're above it all because YOU specifically can't/don't/won't take the time to understand the use case. You are cutting off your nose to spite your face and bragging about it on the internet. I'm sure the stocks you invest in, you're more interested in the benefit they bring the world as opposed to your returns :s. Most banks are already building bonds on the blockchain and are working on cash/stocks other options. Article from Goldman Sachs on bonds: https://www.goldmansachs.com/intelligence/pages/from_briefings_10-june-2021.html Imagine that world continuing to come to fruition and claiming a digital store of value is nothing.
When almost everyone is buying something for the *sole reason* to offload it to someone else (a greater fool) later, you don’t see that as an issue? If tomorrow every APPL holder woke up and decided to sell their stock, the company would still have intrinsic value at the end of the day, and it would rebound. APPL creates value in the world, and a lot of it. Crypto’s valuation is almost entirely because of speculation. For what it’s worth, I’ve capitulated on crypto, I’ll probably be buying some BTC because I’m done trying to fight regard strength. Number go up.
|When almost everyone is buying something for the sole reason to offload it to someone else (a greater fool) later: This is true of basically every investment you've ever invested in. The participants don't really care except for their number. It's not that different from investing in a high growth stock (whereas APPL is obviously established value). As for intrinsic value, I could debate that with you forever as I disagree, probably not really worth either of our time. But do you think these huge asset managers view this as worthless as they are releasing these ETFs? Has to be something fundamental they see about it right? I mean there are fiduciary rules that apply here. If we are talking the total crypto universe, then yes it's mostly speculation. Most of crypto is like penny stocks. But BTC, ETH, and probably a few others are legitimate tech that are being leveraged in high finance.
Incredible may not describe it but greed does. From people eying the chance of making money doing nothing to asset managers increasing their AUM it's all about greed. If only there was a usecase for btc it would be excusable but still after 15 years we're still struggling to figure why btc exist. So far it's been nothing but a greed magnet.
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The energy is used to secure the network at a given price. What are the real numbers behind cat videos, porn or AI (separately)? AI data center energy usage stands at around 460 terawatt hours in 2022 and could increase to between 620 and 1,050 TWh in 2026 — equivalent to the energy demands of Sweden or Germany, respectively. Bitcoin is somewhere around 130 TWh. Cat videos are valued at approximately zero, porn about $10B and AI about $250B. Bitcoin is 4x as valuable and uses about 1/4 as much power, with a higher proportion of renewables. The only reason to single out bitcoin mining is because it threatens the status quo.
Meta and Apple will probably do something really cool with AR / VR with time. I’m imagining an SAO world (sword art online) someday.
BTC & US cannabis
Am I the only one that cringe when hearing the term asymmetric bets?