Random Thoughts

Discussion in 'Butler Basketball' started by willisbrown, May 25, 2019.

  1. PSUButlerFan

    PSUButlerFan Well-Known Member

    Money:
    $15,905
    Dude. The Cubs are indoctrinating kids to get sex changes. Did George Soros buy a stake in the team? They should be canceled.

    Actually... other than 2016, the Cubs have been canceled for like 112 years!
     
    dawgs2014 likes this.
  2. pjohnsto2003

    pjohnsto2003 Well-Known Member

    Money:
    $7,968
    My 6yo has a Buzz Lightyear Mr Potato Head. It’s crazy the number of varieties. You grew up in Iowa and guessing had to make do with corn cobs.


    Sent from my iPhone using Butler Hoops
     
  3. PSUButlerFan

    PSUButlerFan Well-Known Member

    Money:
    $15,905
    Uh I’ll have you know I had like 75 Star Wars action figures. I had some absolutely epic battles back in the day around the house.

    They came out with a bunch in 1998 when they remastered the original trilogy in anticipation of Episode I. And I bought as many as I could.
     
  4. the_speakers_lab

    the_speakers_lab Well-Known Member

    Money:
    $5,131
    So does that mean Potato Head will no longer have a mustache? Or are those gender neutral?
     
    willisbrown likes this.
  5. the_speakers_lab

    the_speakers_lab Well-Known Member

    Money:
    $5,131
    For some of you deep thinkers: How many buttons does your microwave have? What buttons do you regularly use? Are you like me in that you could go your entire life only using one button, that button of course being "+30 seconds"?
     
  6. Hinkle

    Hinkle Well-Known Member

    Money:
    $11,433
    Gold is an a naturally occurring element inherently limited in supply and valued by humans for thousands of years both as a currency and for all sorts of tangible, real-world non-currency/store-of-value uses. Bitcoin is a human creation designed in and of itself as a medium of exchange. Because no human creation in history has existed for very long without significant disruption and improvement over time, it's a safe bet that eventually bitcoin will be a relatively poor medium of exchange relative to newer, faster, more efficient, more secure crypto media of exchange that will inevitably created. Thus, unless there is something truly unique about any given crypto, the relevant measure of its supply is not simply how many of it exists, but how much crypto exists that can do the exact same thing.

    This is why it is intellectually coherent to believe both that cryptocurrencies are here to stay while also thinking bitcoin as an investment doesn't make sense.
     
  7. Hinkle

    Hinkle Well-Known Member

    Money:
    $11,433
    First - yes, crypto as a concept is here to stay. I'd already said that earlier in the thread. I get so confused about why people react in such a religious way when I raise these points. Why can't crypto-heads get that one can coherently believe cryptos are useful and here to stay while also believing "investing" in any one crypto doesn't make sense? I think you'd agree that one could believe electric cars are the future and think "investing" in a Model S isn't a good idea, right?

    Second, you're all over the place here. Yes, the price is what people say it is, and right now there are a lot of people who believe with religious fervor that bitcoin will continue to increase in value, and thus it's current price is very high. My argument is that this won't continue to be the case, because eventually it will be clear that every aspect of it - like all human creations - can be improved upon, and people will eventually accept that the improved/replacement candidates are indeed objectively better in all material respects rendering the supply of bitcoin not truly fixed. That that hasn't happened yet does not mean it won't, and you even seem to agree on that point. And if that's the case - if, like any other human creation in the history of mankind, objectively better versions of it come to exist - why would people continue to hold on to it? Will it have thousands of years of history as a (relatively) stable, reliable storer of value and means of exchange, like gold? No. Will it have functions absolutely, truly unique to it, as gold does? No.
     
  8. butlerguy03

    butlerguy03 Well-Known Member

    Money:
    $1,834
  9. seadawg

    seadawg Well-Known Member VIP Member

    Money:
    $8,526
    If Hasbro removes the Mr. and Mrs. from Potato Head, how will we know who gets paid less for doing the same job?
     
  10. dawgs2014

    dawgs2014 Well-Known Member

    Money:
    $7,203
    I mean all of what you’re saying isn’t wrong, I just don’t think it provides a particularly compelling argument.

    Coal-is also naturally occurring and limited in quantity. It just hasn’t been accepted as a storer of value. It has arguably far more inherent value and uses than gold does.

    Also, there are clearly far more efficient ways of transferring value, such as wire transfers, electronic banking etc, yet gold is still gaining value.

    The point here is that gold has been accepted upon by society as valuable. It’s not the only element that has the values that make it appropriate as a storer of value, nor is it the most high tech or efficient. Those things have not prevented it from retaining value for hundreds to thousands of years.

    Is it likely Bitcoin replaces that? No it’s not. Is there any way to say, oh this can’t or won’t happen? You can’t say that either. The more it gets adopted by mainstream companies, as is happening, the greater certainty there is that it sticks around.


    Sent from my iPhone using Butler Hoops
     
  11. Hinkle

    Hinkle Well-Known Member

    Money:
    $11,433
    If your position is essentially that *if* people, companies etc. in 2006 and beyond came to accept/adopt blackberries as a store of value even though it was designed as a communication device and even though better such devices inevitably would be created, then yes, that’s true. Im disagreeing that your premise is reasonable, not that the theoretical outcome from that shoddy premise isn’t true.

    To come full circle: it’s like you’re arguing Butler will win multiple national titles in the 2020s, I’m saying it won’t, and you come back saying “If Butler comes to be known as *the* place for all 5 star recruits, they would win national titles.” Well, I agree with the conclusion, but that premise is so unlikely it’s not worth considering.

    The comparison to gold would make a least some sense if you also believed humans were going to use/cherish/trade/wear/etc Bitcoin for hundreds of years before its alternatives had a chance to displace it, thus entrenching it as a stable pillar of human society/economics. But, being a human creation in the 21st century (and a digital one at that), of course that’s not the case and it’ll be displaced with relative warp speed.
     
  12. PSUButlerFan

    PSUButlerFan Well-Known Member

    Money:
    $15,905
    I don’t get what point you’re trying to make. Something can be expected to be replaced while also still being a good investment.

    There are many companies who have come and gone who were once great investments.

    I bought BTC at $250. That $250 is now worth $50k. In 10 years if no one cares about Bitcoin because there is a US-backed stable coin we all use, that doesn’t mean BTC wasn’t a good investment. Unless you’re trying to argue this is some multi-year pump and dump scheme where even some of the savviest asset managers are getting hoodwinked... and that’s just asinine.

    I also have invested from my fund in the space. That has currently produced a 30x MOIC and 84% IRR. I’ll take that...
     
  13. BulldogsFTW

    BulldogsFTW Well-Known Member

    Money:
    $661
    Directions unclear, entire portfolio invested in OTM GME calls.
     
  14. PSUButlerFan

    PSUButlerFan Well-Known Member

    Money:
    $15,905
    I assume Willis just bought a Zlatan Ibrahimovic jersey
     
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  15. dawgs2014

    dawgs2014 Well-Known Member

    Money:
    $7,203
    Hahahaha this is laugh out loud funny.


    Sent from my iPhone using Butler Hoops
     
  16. Hinkle

    Hinkle Well-Known Member

    Money:
    $11,433
    Wait, so is it a storer of value to replace gold, or a short term spec play/gamble? You’re jumping around. If you want to say you’re buying and holding merely because you think others will continue to be confused and duped about this for the intermediate future and thus you can sell soon for a higher price, sure, roll the dice, have at it. There were surely house flippers/developers who made a fortune in the 00s if they happened to stop doing it in 2006.

    And the point I’m trying to make is pretty clear - the boom in price is purely the speculative hopefulness of the masses (and some sinister pumping from some who know better), not the result of some “new gold,” and not some equity-like “investment” through which one can derive profits from the monetization of crypto technology.

    And congrats on it trading for more now than when you bought it. No one cares and that’s not relevant. In the 17th century, there were a lot of people who bought and sold tulips for an obscene profit, too.
     
    Last edited: Feb 26, 2021
  17. seadawg

    seadawg Well-Known Member VIP Member

    Money:
    $8,526
    On a less serious note, don't you wish folks could remember all the times Ted Cruz didn't visit Cancun when Texans weren't experiencing a crisis.
     
  18. Hinkle

    Hinkle Well-Known Member

    Money:
    $11,433
    “Lucifer in the flesh” in the words of the former Republican Speaker.


    Sent from my iPhone, so it’s probably not written all that well
     
  19. pjohnsto2003

    pjohnsto2003 Well-Known Member

    Money:
    $7,968
    And the, “Oh, and Ted Cruz, go F yourself” comment is gold. I grew up down the street from Boehner’s office when he was an active politician. Everything I know of him is he’s a good guy, unless you’re on his bad side, at which point he’s ruthless.


    Sent from my iPhone using Butler Hoops
     
    Tentozen likes this.
  20. seadawg

    seadawg Well-Known Member VIP Member

    Money:
    $8,526
    The reason Cruz's overnight bag was so big is because he was bringing back souvenirs to lift the spirits of the resilient people of Texas.
     
    shoeevv likes this.

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