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266 sats \ 5 replies \ @Undisciplined 2 Mar \ parent \ on: Capital Formation Weekly #2 mostly_harmless
I agree that the timescale is highly relevant, as is uncertainty in the timescale. My reluctance to go all-in has more to do with my uncertainty in the timescale of mass adoption than thinking I won't see it.
I strongly believe the maxim that "The market can stay irrational longer than you can stay solvent" and in that meantime I have to materially provide for my family.
I haven't fully thought through what behavioral differences I should take with these radically different purchasing power estimates, but it would be ridiculous to treat an asset going to $100k the same as an asset going to $10B.
I'll probably end up rationalizing that I should be spending more time on Stacker News, since that's the conclusion I want to reach anyway.
I'll probably end up rationalizing that I should be spending more time on Stacker News, since that's the conclusion I want to reach anyway.
When I reflect on my financial decisions over the last few years, the one constant is that I would've done better had I focused more on bitcoin. I've often avoided focusing on bitcoin by listening to the rational-sounding maxim, “Past performance doesn't guarantee future success.” But part of rationality is knowing when common proverbs don't apply too.
Having posted here ~2 years now, I've observed my old posts growing in value over time, which is an odd feeling when compared to the incorrigible timesinks of other social media sites.
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Meaning literally growing in value -- accumulating sats? Or a more expansive sort of value, like seeming increasingly true?
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Well, both actually. What I said has becoming increasingly true, since I was writing about El Salvador and the propaganda push that was being prepared against them, which............ 🤡
But apart from that, yes, I meant the sats. The buying power those posts generated has grown, so I can buy more ribeye steaks 🥩 today than I could then.
So the work I did here on SN is still generating value. That's actually not even the case with my fiat mining job. The energy I put into fiat writings 2 years ago is gone, whereas even my SN shitposting energy is preserved and something I can still access.
(That's what I was trying to express to @Undisciplined too, that our posts here on SN can be deceptively valuable, in the sense that even our shitposting energy generates value that doesn't go away.)
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Agreed, it's a powerful idea for sure. Makes me full of anticipation for the future.
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I'll probably end up rationalizing that I should be spending more time on Stacker News, since that's the conclusion I want to reach anyway.
The human condition in one sentence :)
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