It's... it's gorgeous.
(Sources: flickr.com, pinterest.com & thespruce.com)
Mr. Robo: ...I don't know, Mr. Ham, "Arise, fair moon, and kill the envious financial establishment" doesn't roll off the tongue as smoothly as the original...
Mr. Ham: Well, so sue me, I'm not a poet by profession. Have a cigar, Mr. Robo? I know you don't smoke, but the occasion positively calls for it - the moment we've been anticipating has arrived! Bitcoin at US$10000!
Mr. Robo: Well, to be precise, it smashed US$11000 in passing too, boss. Barely noticed it myself. Kind of amazing, adding over a thousand in a single day, when we were struggling to find the four-figure level again for years...
Mr. Ham: *waving cigar dismissively* Nah, Mr. Robo, that's your problem. Sweating the small stuff. Think bigger, my assistant! We shouldn't be fussed about scalping a paltry few hundred grand here and there any longer! The CME has confirmed that official futures are arriving on December 18, Nasdaq are entering shortly after, The Economist has turned to whining about liquidity, even as a host of new crypto funds eyes the market - which includes the likes of J.P. Morgan, despite their CEO calling it a fraud; it was kinda hard to keep a straight face when he first said that, given how Wall Street operates. I'd gather the lot of them would call their own grannies a fraud, or worse, if there were a dime in it.
Mr. Robo: Speaking of which, some of the senators who sold out to Big Telecom on net neutrality, did it for as little as US$1000! I mean, I do understand greed in politics, it's acknowledged and enshrined in the local scene, but that's just pathetic now.
Mr. Ham: Not our problem yet, and honestly, I'd rather focus on what may be the hottest openly-accessible market in history. We're breaking parabolas on a log chart, boy! You just don't see these things on the bourse, outside of fly-by-night tuppenny stocks... and the kicker is, we likely ain't seen nuthin' yet!
Couldn't locate the BTC curve on first glance
(Source: toptwitter.com, from the Wall Street Journal)
Mr. Robo: To be frank, boss, I'm a little worried, this kind of rise can't be sustainable...
Mr. Ham: *flicking cigar ash impatiently* Pshaw! Of course it isn't, but that's not the point, boyo. Did you see me panicking when it bled from US$5k to US$3k in September, or from US$8k back to US$5k just last month? Given your professed competency in statistics and pattern recognition, Mr. Robo, I'd have thought you would have understood well that these things happen - in the short term, it goes down, it goes up, we lose or gain some millions in our sleep, who cares really? It's expected. As long as you aren't one of those bright sparks who goes in on margin, you'll always retain the underlying.
Mr. Robo: Yeah, as the Oracle of Omaha saith: "When leverage works, it magnifies your gains. Your spouse thinks you're clever, and your neighbors get envious. But leverage is addictive. Once having profited from its wonders, very few people retreat to more conservative practices. And as we all learned in third grade - and some relearned in 2008 - any series of positive numbers, however impressive the numbers may be, evaporates when multiplied by a single zero. History tells us that leverage all too often produces zeroes, even when it is employed by very smart people."
Mr. Ham: One of his better quotes, although of course you can't trust him on everything either. The silly thing with Bitcoin, as it happens, is that there is no trick to it. Nope, none at all. It's not your fancy "financial math", nor "playing the range", nor even technical analysis. It is merely the quintessence of economics, as we have been saying since 2013 and before - a proven, fungible, frictionless commodity leads inevitably to soft singularity. Economics, being a social science, has few hard laws, but this is probably as close as it gets.
The greatest difference, then, is not in any especial cleverness, or particular facility with numerical manipulation, but between those who recognize this reality - like Falkvinge - and those who don't. Detractors tend to be fixated on finding reasons as to why it can't happen, and are down to rehashing poor arguments that apply even more strongly to fiat money, if anything. You won't find them spending a fraction as much effort thinking about multi-trillion national debts, for one.
*puffs on cigar*
No, my friend, this is a game for those with balls - and the best of them put it all on the line, like the poor Redditor who bet his left nut that Bitcoin wouldn't hit US$10000 this year, and gamely followed through by eating it. And then, there's John McAfee:
Mr. Robo: I don't want to say this, but this man appears unduly determined to lose his dick...
Mr. Ham: It's the modern day, Mr. Robo. It is Mr. McAfee's prerogative as to when and how he disposes of his body parts. Which reminds me of the sheer insanity over in Europe - TRUMP tweeted awareness of a mob slaughtering a gay person by throwing him off a building, and their response was to criticize him for smearing the murderers! Now, maybe TRUMP didn't get all his sources right, but this is madness! Objectively, what the fake mainstream media is doing is, when presented with multiple videos of inexcusable crimes being committed, picking out the sole inaccurate one to slam and discredit the whistleblower!
I tell you, Mr. Robo, this is exactly why people believe in the TRUE GOD-EMPEROR, who has relieved America of onerous and unjustified commitments with nary any praise from his ungrateful citizens; and this coming so soon after his Hollywood detractors are turning out to be a nest of pedos and rapists! And these are the people we are supposed to take seriously, when they slam the GOD-EMPEROR?! Since I'm in such a good mood today, Mr. Robo, I'll let you into a little secret - remember how you were always so frustrated at not achieving my level of returns, despite putting in so much more back-analysis and computation?
Mr. Robo: Still am pissed, actually.
Mr. Ham: Well, I'll tell you: 紫微斗數; by apprehending the movement of the stars, I read the destiny of men and gods. And, just last year, the Star of the Heavenly Emperor rose over the northwestern sky, an event of magnitude not seen in ten thousand years! Thus, it is as fate has long decreed - this is the TIME OF TRUMP indeed.
Mr. Robo: And what did it say about Bitcoin?
Mr. Ham: Eh, the moon looks larger to me tonight, doesn't it? Next stop, Mars - don't worry, Elon Musk is on board, even if he's not Satoshi.
Mr. Robo: Great! And maybe England might win the World Cup, after they got an easy group?
Mr. Ham: Come on now, we're talking realistic miracles here.
Next: Unscheduled Festivities
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