If this guy is a CFA, I’d rather light my money on fire than let him manage it. I feel like the outcome would be the same anyway.
Bitcoin was a typo, he meant beef tallow
The beef tallow thing is painfully stupid…
I have started to wonder if the fact that adding it back makes it so vegetarians and vegans can no longer eat french fries (that are made with it) had anything to do with that decision… Or was that just an “unexpected bonus” in their minds?
It prob is a “some culture warrior/bodybuilder misread a piece of research and it turned into a culture war conspiracy” thing. Like soy. (My silly nickname predates the culture war stuff by several decades, it comes from Shadowrun).
E: yes looked it up, comes via RFK of course and is anti seed oils thing. https://www.diningandcooking.com/1742624/america-stopped-cooking-with-tallow-for-a-reason/ and the anti seeds oil thing is an idea that has been spreading through the (far) right blogosphere for a decade or more (that is when I heard of it, so prob existed before that).
Our friends of the pod at lw also joined in https://www.lesswrong.com/posts/DHkkL2GxhxoceLzua/thoughts-on-seed-oil (but it concludes the seed oil theory is full of shit, points for LW there, well done (dont read the comments, there is roundup in the seed oils)).
Given that he put no effort in finding some arguments, this is a case of “negative publicity is publicity too”?
I would guess, yeah. But 80% of X looks like this, so I don’t know what’s engagement farming and what’s normal posting in a community of radical idiots anymore.
Damn, that’s worse than i thought.
At this point, shouldn’t it be considered a acquired mental disorder?
“Bitcoin” could just as easily be swapped with “prayer” in this sentence, with the same implications
Do you have time to talk about your bitcoins extended warranty, it now uses AI!
One of the biggest realizations I had in High School is there are two kinds of people who hate bullies: those who don’t think bullies should exist, and those who want the bully’s power for themselves.
So it it with crypto. These jerkoffs don’t want to crush the corrupt monetary system, they want to supplant it with their own scam.
It’s a movement driven in no small part by rage. By people who looked at [the financial crash of] 2008 - who looked at the system as it exists - but concluded that the problems with capitalism were that it didn’t provide enough opportunities to be the boot.
All credit to Dan Olson’s masterpeice video Line Goes Up - The Problem With NFTs. Now, if you’ll excuse me, I’ve got to go watch the whole thing again.
Yep, anyone who wants to change the rules stands to benefit from that change. It wouldn’t make sense otherwise.
There’s also the possibility they’re just a good person.
They would presumably still gain by changing the rules for the better.
In a much more intangible way than, say personally enriching one’s elf, but yes. You are technically correct.
Right? They at least get a warm fuzzy.
Oh it’s like sovereign citizens
mhm and how would Bitcoin fix those problems though? Can those Techbros actually answer that?
Value of number goes up, this fixes inflation somehow
I think the argument he is trying to make is that with speculative investment driven to bitcoin, it will reduce hoarding over assets as an investment.
Of course that leads to questions about why we allow assets to be hoarded and seems like a capitalism issue but you know
After reading The Ragged Trousered Philanthropists, I do kind of wonder if money should expire.
Doesn’t solve the problems of private property and capital, ofc.
Crypto vs houses also has the problem that the former is hard to reposses. So not great to base a financial system, where people will default/be scammers/etc on. But of course they consider this a pro not a con. As they are often “im mad gov spend some money (muh taxus!!!1!!) on stuff I disagree with” types. So hoarding would be worse but now in crypto. And there is no reason why speculation in cryptoshit and real estate cant exist both at the same time, like now in reality. Gold didnt fix housing, so why would bitcoin. But yeah, think they are the common clay of the new west.
Easier to launder. Maybe. 🤔
We all fuckin know they can’t but it’s sure fun to watch the idjits try
Wow I was with him at first lol
Wow, Bitcoin was the solution for that. That is a first. Might have found a first real usecase.
Isn’t all money fiat?
Anything that isn’t is just bartering.
Yes, or backed by actual PMs or other high-value assets. Which actually makes me wonder if those aren’t fiat, too, considering artificial scarcity (De Beers and diamonds, for example).
Beer is a legitimate currency, don’t let anyone tell you otherwise
The way water supplies are currently (mis)handled, you’re not wrong. Beer was developed as a sort of sanitation method, iirc.
Which actually makes me wonder if those aren’t fiat, too, considering artificial scarcity (De Beers and diamonds, for example).
I can see an argument for considering them fiat. The value of “high-value assets” (e.g. gold) comes from the assumption they’ll retain their value even if things get drastic, not from being immediately useful (e.g. alcohol) or necessary to survive (e.g. water).
PMs
Zero clue what the acronym means in this context.
Precious metals. My point is, artificial scarcity means artificial value.
Ah, right. Yeah, I can see your point. If it isn’t necessary to survive (e.g. food, water), or it doesn’t have an immediate use case (e.g. ammunition), its probably some form of fiat.
Not really related but perhaps entertaining titbit, in the metro 2033 video game series they use high quality ammo as currency. Cant recall if this also happened in the book.
Not exactly what I was thinking, but I can see your point, too.
Ever since we understood actual scarcity of mineral deposits across Earth, yeah
Wow, coiners tried to parasitize YIMBY while I wasn’t paying attention?
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