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[jacoavlu]

generalities. Congrats

but again pat yourself on the back for your prediction...

[jacoavlu]

larping

you literally started the defi thread on this forum

lol if you think bitcoin is going to zero or tether is imploding...

[jacoavlu]

it’s not about defending blockfi. I just don’t have much respect for the larping that paints everything with the same brush, ignorant of and or denying...

[jacoavlu]

theyre not raising funds silly. It’s people showing up at the counter at the bank and saying “I’m withdrawing my money give me cash”...

[jacoavlu]

can’t recall but I’m ok with that...

[jacoavlu]

haha if you find someone that wants the other side of that bet let me know...

[jacoavlu]

this is also fun

http://www.nytimes.com/2022/06/28/bu...-cheating.html

Ernst & Young to Pay $100 Million Fine...

[jacoavlu]

I’m eager for more people to join the bet, it makes things fun to have some skin in the game. would you like in Tim? Deadline 5/31/2024...

[jacoavlu]

0.00666 btc

by payoff time it’ll be like $40 lol...

[jacoavlu]

how can you be so confident that a big 4 firm would take such an engagement. You think they’ll take on anything that will pay? Be real. Big risk....

[jacoavlu]

if you are so certain it’s fractional reserve, would you like to double the bet amount? I mean an implosion should be imminent now that they’ve redeemed...

[jacoavlu]

“in a month” lol

you are welcome to join the bet also....

[jacoavlu]

I honestly don’t think they’re all the same. Celsius lost millions due to their exposure to defi in hacks, something like $100M in the BadgerDAO...

[jacoavlu]

you don’t think there’s a difference whether customers losing funds or not?...

[jacoavlu]

I asked if you think blockfi customers are going to lose coins / funds. Hasn’t happened yet....

[jacoavlu]

As I said, their CEO has stated recently that apparently an independent audit, for whatever that’s worth, should be forthcoming.

Additionally,...

[jacoavlu]

None of the big four accounting firms will touch tether for an audit. Nor will they touch other stable coins, presumably secondary to reputational risk....

[jacoavlu]

The problem is, where there is easy arbitrage opportunity, it goes away quickly. Grayscale bitcoin trust is a perfect example of that. It now trades at...

[jacoavlu]

Sure, which goes back to the underlying assets. Tether has reduced the percentage of underlying commercial paper that they hold, Which is already pretty...

[jacoavlu]

Maybe overlooked, but you didn’t answer the question...

[jacoavlu]

most or even all of the financial stuff that works in traditional finance doesn’t work in bitcoin because there is no bailout mechanism, there is no...

[jacoavlu]

i don’t think that was me, but I’ve talked about these platforms or at least blockfi quite a bit in the past. I had a significant amount in stablecoin...

[jacoavlu]

are you going on record that you think customers of blockfi are going to lose coins / funds? It will sure be interesting to see if that comes to fruition....

[jacoavlu]

Jay Powell basically has admitted they don't understand inflation nor can "experts" predict inflation

[jacoavlu]

Multiple accounts under the same plan would be ok but multiple plans would not be ok. You need to understand the difference. Rocket dollar doesn’t...

[jacoavlu]

it’s market timing. Personally I wouldn’t go Roth even if I knew my marginal rate was 29% or whatever...

[jacoavlu]

now is not like 2020. not many tools left in the toolbox to make the market pump. “demand destruction” to combat inflation translates to “make...

[jacoavlu]

the “few thousand dollars” is an uncertainty. It’s a market timing play that could be right or wrong.

The tax cost is not an uncertainty....

[jacoavlu]

“Non Roth” typically means after tax contributions as in those that are step one of mega backdoor

no one calls traditional or pretax...

[jacoavlu]

why would you do non Roth ahead of Roth?...

[jacoavlu]

traditional has zero disadvantage right now. You can accomplish same goal with Roth conversion near year end when you have more information to make a...

[jacoavlu]

coinbase is most certainly regulated, and you may not realize but most of those people in the article you linked to were made whole by coinbase. But...

[jacoavlu]

first rule of TLH is sell any shares acquired within past 30 days, if you don’t want wash sale

but wash sale like this isn’t that big...

[jacoavlu]

yes you can TLH that fund.

you could easily just buy the individual component funds if that’s what you want

[jacoavlu]

yes the disallowed loss is only pro rata to the substantially identical shares bought or still held

yes you could do another sale but this...

[jacoavlu]

https://colombogazette.com/2022/06/2...-of-usd-10000/

Sri Lankan residents permitted to have

...

[jacoavlu]

the wash sale isn’t about the VOO it’s about the VTI shares purchased two weeks ago and still held

its not that big of a deal as long...

[jacoavlu]

and the OP hasn’t lost any coins

with regards to self custody you keep saying people aren’t “able” which is simply not true, and...

[jacoavlu]

lol the hypocrisy in this whole conversation is pretty funny.

highly educated professionals can’t safely use bitcoin because of their own...

[jacoavlu]

bitcoin not crypto

Respectfully Tim I never said bitcoin was the solution. This line of conversation came out of the Berkeley prof video...

[jacoavlu]

it’s not that hard. We are all plenty intelligent enough

Most bitcoin that are lost are lost because at the time they were worth little...

[jacoavlu]

bitcoin, not crypto

could my wife spend the bitcoin tomorrow? No. Does she know enough and or have i taken steps to ensure she would...

[jacoavlu]

if anyone wants actual advice on how to safely self custody their bitcoin feel free to PM me

[jacoavlu]

those with experience on credentials committees will understand this stuff has a lot of potential to put ER docs in a bad situation not of their own fault....

[jacoavlu]

”govern me harder daddy”

[jacoavlu]

I hope you don’t stop at bitcoin with this logic...

[jacoavlu]

So the tool should be taken away?...

[jacoavlu]

They’re real people. Not my list. See the twitter link up thread...

[jacoavlu]

Not crypto. Bitcoin. But I don’t think it matters to you anyway.

I just think it’s pretty rich that your response to those people...

[jacoavlu]

Seriously? I guess that's for you to decide for those people, from your position of comfort and privilege?...

[jacoavlu]

honestly curious as to whether you viewed any of the clips in the thread from the Oslo freedom forum and what you might say to those people. Like the...

[jacoavlu]

again, I guess it largely boils down to how you feel about free speech, property rights, statism, regulation, governing people, that sort of thing. ...

[jacoavlu]

Most of your criticism boils down to human behavior. Free people participating in an opt in network. You may choose to ignore the fact, but there are...

[jacoavlu]

Id like to hear someone that takes such a position actually hash out their analysis....

[jacoavlu]

this is already the case and so the Larry Finks of the world wield so much influence....

[jacoavlu]

a lot of ransomware folks now prefer monero bc it’s more private. But I’m sure you don’t really care, do you?...

[jacoavlu]

not even about holders and ideological grounds. For some people bitcoin is a tool they can use when there is no other good alternative. So I would challenge...

[jacoavlu]

basically anti democracy...

[jacoavlu]

as a counterpoint to the Berkeley professor’s or anyone else’s opinion that bitcoin is a waste of energy or of no value or only bad for the world,...

[jacoavlu]

I’m not saying a workaround is necessary. I actually think bitcoin as only a settlement layer is fine bc I don’t think USD and visa or whatever is...

[jacoavlu]

im not sure the professor is a he by the way https://twitter.com/djcapelis?s=21&t...JDqBU9Qzgae46g

regarding transactions per second...

[jacoavlu]

I actually found it pretty sad that that professor at a notable university had apparently made the research their career and clearly has some expertise...

[jacoavlu]

to be fair bitcoin was $782 the first time Jim compared it to tulips and beanie babies...

[jacoavlu]

the one guy here that actually had a ferrari made a good call with levered qqq...

[jacoavlu]

bullish

it’s more like 5 or 6 crashes but somehow the lows seem to keep getting higher...

[jacoavlu]

Is this how you approach other things that you allocate investment dollars to like equities, bonds, real estate? “I want to lower my basis and then...

[jacoavlu]

lol bitcoin at $20k is a “meltdown”

I think bitcoin will go back up. When and how much? No clue. But I’ll comfortably keep holding,...

[jacoavlu]

Swan is excellent but geared more toward beginners, 1% fee

Strike is super easy and “no fee” (spread is 0.1-0.3%) but at this time no...

[jacoavlu]

Yeah it seems geothermal power generation produces a non negligible amount (5-10% range) of energy in NV and CA...

[jacoavlu]

What’s “thermal?”...

[jacoavlu]

what do you consider to be "renewables"?

if you could project 10 years into the future what do you think that we should expect...

[jacoavlu]

Do you believe that the sun is going to shine more, or the wind is going to blow more, or is it just that we will consume less energy?
I think...

[jacoavlu]

I don’t make predictions near term...

[jacoavlu]

About the same...

[jacoavlu]

who are our practical leaders?...

[jacoavlu]

Don’t disagree. Just a good reminder that not all defi takes the “de” part so seriously...

[jacoavlu]

France and China aren’t relying on wind and solar. You need hydro, nuclear, coal, or natgas for base load.

If folks in US want to eliminate...

[jacoavlu]

Germany, which has been all about renewables and staunchly anti nuclear, is now firing up more coal to deal with their energy crisis as they can’t bring...

[jacoavlu]

but no info about remainder of your portfolio. If you already have much more in equities then a DCA or split lump and DCA approach may be more reasonable....

[jacoavlu]

generally wise to access and carry low interest debt when inflation is hot. Whether for expenditure or long term investment. Sounds like a fine plan...

[jacoavlu]

at least in my circle of colleagues groups rarely if ever offer partnership positions to tele folks. My group won’t. I would see such an offer as...

[jacoavlu]

lol “decentralized finance”

https://blog.solend.fi/slnd1-mitigat...e-1504285ab4d2

…. With that in mind, the action

...

[jacoavlu]

there are super easy set it and forget it DCA platforms. Monthly, weekly, daily, lol even hourly

Just approach same as equities. Long...

[jacoavlu]

if you DCAd weekly for 5 years you made 370%...

[jacoavlu]

“More reliable”

how so?...

[jacoavlu]

electricity is not fungible. It can’t be moved around the globe. It can be moved about 500 miles before transmission loss is too great

...

[jacoavlu]

I’m sure statistics from China are accurate

[jacoavlu]

lol did you even read the article?

”But as Dallas-Fort-Worth tied a 111-year-old daily record for high temperature, wind and solar power...

[jacoavlu]

Problem is your electric supply is not stable without those sources that some people don’t like. Coal. Natgas. Nuclear.

go check out...

[jacoavlu]

can’t reasonably answer without knowing the rest the portfolio

if 500k fell into my lap today id probably just dump it all in the market...

[jacoavlu]

agree. tele is tele. for better or worse you’re mostly a commodity...

[jacoavlu]

if your definition of hard money includes widely accepted and easily used and is anchored to price relative to USD then bitcoin doesn’t fit.
...

[jacoavlu]

that has nothing to do with “hard money”

the dollar is not hard money because it has essentially infinite supply. As has been demonstrated...

[jacoavlu]

it’s just hard money...

[jacoavlu]

since when is hard money defined by USD value?...

[jacoavlu]

absolutely you can. Given the conviction of some people around here I’m sure there are some that have active short positions...

[jacoavlu]

bitcoin is just hard money...

[jacoavlu]

bitcoin blocks happen ~ every 10 minutes without the control of government or any central authority. Coins are always moving....

[jacoavlu]

if we run out of water and there are toxic dust clouds then I think everything goes to ************************. If you knew that would happen what’s your plan?...

[jacoavlu]

asset prices could very well drop but I would not point at climate change as to why....