re: Money Talk challenge (1 year update)

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And you are a making money challenges for 2k

Sure jan gif

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You think someone who has dropped multiple 6 figs into btc over a period of 5+ years wouldn't make a $2k bet? I don't understand why that is so hard to believe.

That is a crazy thought considering most here have been throwing money in for over 5 years.

Would you not believe someone if they said they bought 6 figs on ExxonMobil stock over the past 5-6 years? I don't see what the difference would be and I don't understand how investing $25k+ a year into something is a wild thought.

ETA: I've been saying 5-6 years...its really 6-7 years. Most of us starting buying in early 2017. Some even before then

Can we get an update on the bet?

For anyone reading this, you should really consider reading the Bitcoin Standard.

Cliff Notes....

Historical Context of Money: The book begins by exploring the history of money, explaining how different societies have used various items as money, such as gold and silver. Ammous discusses the concept of 'sound money', which is money that has a store of value over long periods due to its scarcity and resistance to inflation. He argues that most historical currencies failed due to their lack of these properties. The book emphasizes the role of sound money in fostering economic prosperity and stability.

Bitcoin as Digital Gold: Ammous then introduces Bitcoin, positioning it as the digital equivalent of gold. He outlines its properties, such as decentralization, fixed supply, and resistance to censorship, which make it an excellent form of sound money. The book highlights the benefits of Bitcoin over traditional fiat currencies, like the US dollar, which can be printed at will by governments, leading to inflation and devaluation. Ammous argues that Bitcoin's digital nature and limited supply give it an edge over gold and make it an ideal store of value in the digital age.

Economic and Societal Implications: Finally, "The Bitcoin Standard" explores the broader economic and societal implications of adopting Bitcoin as a global standard. Ammous suggests that Bitcoin could lead to a more prosperous and stable global economy by reducing governments' ability to inflate currency supplies and by fostering greater financial discipline. He also discusses potential challenges and criticisms of Bitcoin, such as scalability issues and energy consumption, but generally maintains an optimistic view of its future role in the global financial system.

Overall, the book is both a historical analysis of money and a forward-looking thesis on how Bitcoin could reshape our understanding and use of currency in the future.

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resistance to censorship

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this is an elementary level question I've had that hopefully you can answer.If a govt was to make bitcoin illegal and shut down the on/off ramps, how would that play out? Like if I've got a cold wallet with bitcoin but have no way to transfer it to money in my bank, do I just accept that the BTC I hold is now going to have to be used to actually buy stuff and use it as a currency?

This has been a fun read one year later.



Big Sur is going to make some Colombian girls very happy.

Good morning from Pereira, Colombia

NVdA was an amazing call. But no bet was made. I am not sure how that’s hard for you to grasp.

But since we are tracking it since it was mentioned.

NVDA - 222%
Bitcoin - 120%
S&P500 - 26%

S&P has done much better than I had thought it would actually but as I mentioned in the other thread, the rise is only because of the magnificent 7. 490 of the companies showed very little growth if any

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Big Sur is going to make some Colombian girls very happy

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No you still misunderstanding...if BTC wins a year from now, you can spend your cash donation on the underprivileged third world ladies.

If S&P is up in a year, the ladies don't get the extra funds from I Love Bama (just their normal funds), but a legitimate non profit here in the greatest country on earth benefits from a donation by me.

I tried to structure the bet so its win-win for I Love Bama.

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a legitimate non profit here in the greatest country on earth benefits from a donation by me.

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Nothing to do with this internet “challenge” game, but I set up an investment fund to do the very same thing several years ago. Just feels right.

No offense to him, but remember that the fellow that you’re responding to said, “God I grow to hate this country more and more by the day.” It was some proposed tax policy that triggered him, but still… I’d never say such a thing, even with a gun pointed at my head.