Comments by "" (@tensevo) on "Preston Pysh" channel.

FTX Crypto derivatives exchange
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Regards to world reverting "back to value", well, if all money managers were educated and prudent, then yes, but now every man and his dog have access to financial markets. I expect the big names to rally even harder from here and value to go sideways. I do agree that crypto currencies could play a role in normalizing stock market to lower valuation, but then why would value stocks suddenly start performing when you have so many investing options. Look at Tesla, very poor fundamentals compared with other car manufacturers but now they won over the hearts and minds of the Reddit and RObinHood generation with nearly a trillion market cap and over a billion in Bitcoin, they could actually use that to build some decent products that are almost as good as VW, Audi and Porsche, then they will have the fundamentals to justify their high valuation. p.s I do not own TSLA, but equally I would not "short" it. Same goes for Bitcoin, I would not short even a satoshi.
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I like Jimmy and respect the work he has done for Bitcoin community. However, there are a multitude of major problems with Bitcoin, that Bitcoin maximalists either ignore, or brush over, then start attacking other projects in the hope it might take attention away from these core flaws. Firstly, Bitcoin is highly centralized in three ways (1. small number of wallets hold enormous number of BTC, 2. Through the central mining pools, and 3. through the core development team, an exclusive club). Secondly, the power consumption of the Bitcoin network is simply obscene, and for Bitcoin to be taken seriously with the younger generation, who they try to appeal to, they need to address the power consumption problem. Thirdly, Bitcoin, whilst being a "store of value", it is obscenely expensive to transact and slow to do transactions. In short, Bitcoin is good but has a long way to go to be "digital gold" or "money for the internet" or "the internet of money".
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The railroad business is now starting to look like a really good buy, given where airlines are today.
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Do you think the reason "they" need a "green agenda" is because the money printing and growth model has got out of hand? In other words, if we had sound money, then growth would naturally be limited. Instead we want our cake and eat it, hyper growth economy plus environmentally sustainable.
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For me, Bitcoin is simply an "option" in respect that, options, as with insurance premiums regularly go to zero, but that is not a reason not to buy. It is so uncorrelated with regular markets, that you could say it is an option or bet against stability in the current financial system. Thats not even a Bull case for BTC, just an argument for having 2% in your portfolio.
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TA makes me fall asleep. I tend to agree with Saylor on this....to say, a few whales start buying 1Billion here, 2 Billion there, your price models sort of go out the window. Except, the ppl who believe that each cycle should look the same or similar to the last, will use that as a guide for their buying and selling, so in that sense, if it happens, it is more to do with human psychology and self-fueling prophecy than it is about the narrative of halvening. Why? Because if we know that it "should be" $100k BTC in x months time, and everybody know it, well that would be today's price.
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I recently watched Dr. Manmohan Singh from the IMF "The Real Mechanics of Monetary Policy & Financial Plumbing " on Real Vision. He seems quite sympathetic to digital assets to help solve a lot of problems with current financial system.
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In a crisis, nobody cares about Gold and luxury items, they care about the essentials. I would feel like an idiot if I had a pile of gold coins (which nobody accepts as currency) but my family was without food, clean water and shelter. It sounds silly but I no ppl who priorities gold and guns over the basics. Beyond retarded.
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If you can buy when fear has gripped the markets, you have access to untold wealth.
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I dont think money will be separated from state, but instead the crypto layer 1's, mainly Bitcoin, will sit above the nation state central banks, essentially keeping them honest, not allowing them to print to infinity without repercussions. So best case, Bitcoin, keeps fiat currency from devaluing itself, as it provides good competition.
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p.s. all the arguments rained on Ethereum were true of Bitcoin (and still are to some extent), especially in the first 5-7 years of the project.
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25:50 Take note, if you issue debt (print gov bonds) in your own currency, then you cannot default, you just devalue (your purchasing power on the global stage, reduces). Those beholden to other currencies (EUR?) are unable to devalue, so they default (unable to service debt), which is a very fragile system. This is why US and UK bonds are sound investments (they have own currency), whereas, gov bonds in countries that do not have their own currency are highly risky (junk?).
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Very good communicator. The NEW New World Order is silicon valley. The OLD New World Order is global government. The New World Disorder is decentralised populism/anarcho-capitalism/cyber-punks. The battle ground of ideas is Big Tech v global government v the people/individuals/mob/crowd/aka "Russian bots", but I have no idea which of these is the lesser evil. In many ways, big tech is more dystopian than the industrial age it aims to supplant. There is wisdom in crowds but also madness.
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Stay true
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Once more, Buffett has become vindicated after he was publicly mocked for his large cash position just months ago. He still owns a lot of stock. He also owns a lot of cash. Many have been wiped out by this latest correction. Why do ppl constantly try to tell Buffett he is doing it all wrong? Maybe the detractors need to take a look at their own strategy.
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Yes, I like Jimmy and respect the work he has done for Bitcoin community. However, there are a multitude of major problems with Bitcoin, that Bitcoin maximalists either ignore, or brush over, in the hope it might take attention away from these core flaws. Firstly, Bitcoin is highly centralized in three ways (1. small number of wallets hold enormous number of BTC, 2. Through the central mining pools, and 3. through the core development team, an exclusive club). Secondly, the power consumption of the Bitcoin network is simply obscene, and for Bitcoin to be taken seriously with the younger generation, who they try to appeal to, they need to address the power consumption problem. Thirdly, Bitcoin, whilst being a "store of value", it is obscenely expensive to transact and slow to do transactions. In short, Bitcoin is a good start, but has a long way to go to be "digital gold" or "money for the internet" or "the internet of money".
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@yewchoobar1673 Small number of wallets holding large stacks, highly concentrated wealth, is precisely what Bitcoin community frames itself as not being. It is elitist. It is not "for the little guy". 1BTC is more than most ppl earn in a year. Lighting does not solve tx issue btw. Avg tx fee is still approx double that of ETH and both are obscene compared with Visa or PayPal. Don't get me wrong, in many ways it is good tech, but as with all crypto, we have to be intellectually honest about what is going on here.
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@yewchoobar1673 I am bullish on BTC, but I want us to be honest about what it is. It's a game. It's alpha male locker room posturing. I think number will go up, a lot, but it's not like a panacea for world poverty or the wealth gap.
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@yewchoobar1673 Strangely, I think if we did just admit to the world it was a game, instead of doing mental gymnastics trying to justify it's existence through moral posturing, and trash talking competing projects, then number would most likely go up a lot quicker.
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@yewchoobar1673 I'm sorry, but how does Bitcoin solve the wealth divide problem? The only ppl who can afford Bitcoin is rich ppl. It was the same problem with Gold. Highly concentrated wealth. As I type, the median BTC tx fee is $12. That's one transaction.
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@yewchoobar1673 Yes, but hat's besides the point though. There is not enough Bitcoin for everyone to use as a currency. In other words, there are more transactions in the global economy than there are satoshis.
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Brilliant, how ppl expect Buffett to bank roll his companies with hand outs, but he out right rejects that proposal. He cites, Berkshire (textiles) as 2 lost decades as they tried to keep a zombie company alive. Cash has to be flowing one way, that is to Berkshire Hath.
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