pull down to refresh
153 sats \ 12 replies \ @TNStacker 24 Nov \ on: Teaching An Old Dog New Tricks bitcoin
Great essay! Your history is solid. However, as a 59 year old with a university degree in Banking and Finance, I am optimistic. I get your pessimism. I just think it results from short-term thinking. We are so fucking early. And compared to other monitary technology, awareness is happening at hypersonic speed. Over the last 20-30 years (Internet age), we became used to rapid tech adoption. Hell, we got rid of book and record stores completely. Wealth and money will come. But it will seem slowly, and then all of a sudden to us.
And compared to other monitary technology, awareness is happening at hypersonic speed.
In 1999, the light bulb went off in my head about how Fractional Reserve Banking / Federal Reserve works....thus I became a goldbug and started slowing stacking gold/silver
My point on that, is I'm amazed at just the cultural shift thats happen in the last 10 years. From say 1999 to 2010 people would simply deny that "the gov can just print money". Further, it was generally denied that money printing was directly related to inflation....(I'm talking about regular joes on internet, not among financially savvy).
Now, everyone implicitly accepts those 2 points. That is a hugely bullish cultural shift in favor of bitcoin.
reply
The wave is coming!
reply
Likely, we're going to have rapid turnover in which financial gurus are being listened to and that will drive the changes in conventional investment wisdom.
Those going bigger into bitcoin are already making more impressive returns and as their track records get longer, more and more people will listen to them.
reply
Just wait until Jim Cramer gets wind of BTC as an investment!! :) If he says anything positive we will know to buy that dip that is coming!! Yes, indeed, investment wisdom.
reply
He said something positive last week an and here we are.
reply
I notice that the rush to BTC has paused quite a bit, lately. Was that Cramer at his best?
reply
That's what I was going to mention. Wasn't it just as the price was closing in on $100k?
reply
Yup
reply
Yes, until Cramer good-mouthed it! After that a different story.
He sure is a contrary indicator, isn’t he?
reply
reply
Does that mean that we should look forward to a nice appreciation, real soon now? Jim Cramer is about the best contrarian indicator that I know of.
reply
That's nice. My DCA was getting pretty pathetic.
reply