1,736 karma · joined December 14, 2012
(This is derived from Russ' discussion above.)
1M is life changing, agreed. But there's no reason to have known it would be worth that. There's no reason to believe it will be worth that tomorrow. Yet someone else, possibly far less astute than I am, is on the other end of that trade. For every dollar in wealth it created for me, it destroys for someone else. Nothing else has happened but I got lucky, timing was good, and I robbed wealth from others. That 1M would be better spent on people's salary, or a dozen Teslas, or a bathroom in the bay area. But, it was given to a jerk who downloaded some program and ran it for a couple of days in 2009 (or whenever I did, it's not important).
BTC is objectively bad. It is objectively speculation. It is objectively a random number. That is all. It is a shame we place any price on it, when the money spent speculating on it could create actual wealth.
Ok, I have a proposition. Let's negotiate. How many BTC/year do you require for me to buy all of your work product, for the rest of your life? How many BTC do you want? Choose carefully.
I posit, there is no amount we can agree on to make this transaction.
I have made so much more in salary and investment growth than those BTC in the same time. I provide value to the world, and world has rewarded that. BTC provides nothing but speeding the heat-death of the universe and hodl memes.
Would I have sold it before 50k? yes, yes I would.
Can I accurately predict what someone would pay me for it tomorrow? No. Can I estimate the amount it will return to me in 10 years through dividends, or earnings growth, or repurchases (or in BTC's case, lost wallets)? No. Is there regulation protecting my investment? Not really.
It is a purely speculative investment.
If you want to go find my laptop, it's in a landfill in Massachusetts somewhere. Have at it! It was an early macbook. It has a Daft Punk sticker I bought at Newbury Comics.
Value is NOT price. BTC objectively has no little to no value. Price, sure, it's all over the place.
What is the par value of a BTC? What's the earnings yield on it? ROIC? ROE? How is it providing jobs to people (beyond speculators)? It is (objectively) a drag on society and progress.
No thank you.
I invest because I want value. I want to own a part of something that generates value to the world. I invest to meet my goals (which I've already done without BTC). I invest to sleep well knowing that my money is making me money. BTC offers none of this. I challenge you to name any value BTC provides beyond moving money from one jurisdiction to another. (Which is still value, but not one I need, nor feel the need to speculate in.)
Am I bitter others got rich? Nope. Do I wish I was richer? Not really, I'm doing fine, I don't spend what I have anyway. Do I worry about BTC mania infecting others and possibly causing harm where it's not needed? Yes.
That is why BTC is a bad idea. It's pure speculation. There is no value beyond what someone else will pay you for it.
I visited Arecibo in the early 90s (sophomore year of college). My family was in PR for a family trip, and as I'm not interested in pools or the beach (which is why my mom and sister went), my dad and I drove up into the hills to see it.
It was before there was any visitor center or tours. There was a little control room with some instruments and a large window you could look in, and a catwalk over to about the edge of the telescope. There was not really much to see, and they weren't set up for people who wanted to visit.
I bought a poster at local giftshop from a dusty bin of Arecibo telescope prints (I was probably the only one who bought one), and the proceeded to go off and get my advanced degree in deep space communications (coding theory and DSP). I would say seeing Arecibo was part of why. I wanted to play with toy like that.
Sorry to see you, Arecibo. At least it had an effect on me.
I think about this video all the time. This is the future of warfare, and it's coming. Like it or not, this is where the world is going to go.
Recently, I listened to a podcast about the second civil war in America (It Could Happen Here), and it was chilling. It showed the warfare is asymmetric now, and a 2B bomber is useless against a motivated attacker with 20k worth of drones. The future of warfare is through 3D printing and ML tech; and, the future is here.
Also, I think the author missed the real point. They have a shop where designs are done in caffeinated weekend pushes without input from other developers. This sounds like a shop full of junior developers. Engineering is not just about code. It is the balance of creation with constraints. They could have know the "old-new" system wouldn't have worked if they had some idea of load, or were measuring latency. They could have used these measurements to push a better design if they bothered with a design process. People would have supported the design, and slogged through bugs if people were bought into it actually be the correct design. Instead, we had a system written twice.
There's a reason senior engineers are paid what they're paid, and it's because it saves time like this. You pay a senior engineer because they sidestep these problems.
I'll see myself out.
We are so screwed.
BRK borrows for a couple of reasons, but chief among them are that sometimes it's better to write bonds (for tax reasons), than it is to use cash. At 4%, I can see that being the case.
Personal choice is what I have here. I am fighting with the tools I have at my disposal. It might make some feel better to say my personal choice is useless. Let's assume that's true. Given that I choose to think that even smallest person can make a difference. I also choose to think that it's cop out to say otherwise.
Let's just say, I try my hardest.
(I don't need a hobby, I like using my time to vote with my dollars.)
I'm not saying I need pot to be me, but I need a little help to get through this, and right now THC is helping me. I can be more patient with my family. I can let myself explore my work, and I am a little more relaxed to step back and look at my problems, and say, "I can fix these, let's start on this one."
If your reply isn't a joke, maybe you need to find your outlet. It doesn't have to be what I found, maybe yours is painting models, or writing a screenplay, or playing video games. I hope you find it.
I have struggled with anxiety. It's always been a low-level constant in my life with suicidal ideation and mild panic attacks. I have never treated it beyond irregular talk therapy and CBT.
The lockdown in the US and the safety of my family has triggered me severely. I found myself unable to function, and would doom surf, opening tabs, refreshing news, watching graphs move up and to the right. No thought, just monkey level reactions.
I started taking medical THC, and my life has changed for the better. I can focus. I can relax. I can live a normal life. I can approach the covid situation with thought, not gut level reaction.
All of this is to say, if the article's drugs work for some, they need to be available. Legal marijuana in my state has made a huge difference in my life -- if other psychotropics or psychedelics help others, then let's get them out there.
There are also 54 people listed as working as "[XXX] police [XXX]", in a town of 41k.
For the record, there is an average of one violent crime a day in my town, and stats like 7 projected rapes in 2020 (0 murders).
Whether or not that's all justified, I leave as an exercise to the reader.