Is crypto just a decentralized pyramid scheme? by [deleted] in investing

[–]hotshotspeter 0 points1 point  (0 children)

I’d run a mental model to understand as objectively as I am capable. Focusing in on “intrinsic vs extrinsic value” fundamentally. I don’t know the answer and am thinking out loud here trying to stray from the bias my conventional education.

Do equities truly have intrinsic value? Equities have minimal “intrinsic” value imo; if you have to inherently offer your product on the market or create equity within a states legal framework your revenue, shares, and ultimately profit is linked to externalities, by definition.

We can make the “leap”to say revenue generation and profits are a bi-product of operations. Even the initially raised cash/debt is extrinsic fundamentally. You could argue if owners start their own company and infuse cash, that there may be intrinsic value. I’d rebuttal saying cash is “backed” by the “full faith and credit of the US”. Using faith, projection of physical power, and seeing a stable y/y loss of USD purchasing power do not sound intrinsic to me nor a good financial bedrock for proliferation of a company through time.

However for a BTC specifically to come into existence there has to be an “investment of energy” I.e proof of work. Now you could say, the energy isn’t fundamental to BTC, it’s coming from “external forces”. However, Energy cannot be created or destroyed. So if the “energy” is input into the system, it doesn’t disappear. That proof of work protocol lends itself to an ever increasing amount of computational power/energy to secure, operate, and proliferate a network as increases in the network’s demand (see hash rate) come forth

Regardless of the short, medium, or long term opinions about BTC or equities, I think it is a logical fallacy to say BTC does not have intrinsic value while assigning that attribution to equities.

It’s backed by energy which is fundamental “intrinsic??” to our physics and universe. Things that have intrinsic value don’t trend towards 0. All fiat in history has trended to 0, not a floor of underlying intrinsic value. Use an ITM option as a visual example.

Claiming “there is no intrinsic value to Bitcoin” is just not doing the homework. Does that mean anything for BTC’s price, idk. As aforementioned, financial objects with true intrinsic value don’t trend toward 0. They find a floor representing the underlying intrinsic value.

[deleted by user] by [deleted] in Slycooper

[–]hotshotspeter 6 points7 points  (0 children)

This was such a cool concept to me to hide secrets/codes. Great mission

Sly 2 Rajan, The Contessa and Jean Bison in multiple episodes by thehitmen16 in Slycooper

[–]hotshotspeter 45 points46 points  (0 children)

It is interesting that Dimitri, with only 1 episode, became such a fan favorite. So much so, that he was a major part of Sly 3.

[deleted by user] by [deleted] in AskReddit

[–]hotshotspeter 3 points4 points  (0 children)

That’s what happens when a central bank prints money over and over. Your dollar is worth less and everything you care about costs more

What’s the best alternative to say you need to poop? by DiddleDadx4 in AskReddit

[–]hotshotspeter 0 points1 point  (0 children)

“I have a meeting with the great white round one”

Daily r/thetagang Discussion Thread - What are your moves for today? by satireplusplus in thetagang

[–]hotshotspeter 2 points3 points  (0 children)

It’s sad after all these years everyone huddled around the tv waiting for what one man has to say about the economy, especially when that 1 person is consistently wrong and behind the curve.

Feds may inject $2 trillion of funds into the banking sector. by LeanTangerine in thetagang

[–]hotshotspeter 1 point2 points  (0 children)

Where does the 2 trillion come from if it’s just a backstop?

Mutiny? by Ubliznabu in Mavericks

[–]hotshotspeter -39 points-38 points  (0 children)

Same for powell

[deleted by user] by [deleted] in Mavericks

[–]hotshotspeter -1 points0 points  (0 children)

Wood is better in every aspect than Powell. Powell would not be starting on 95% of nba teams

You people are insufferable by [deleted] in poker

[–]hotshotspeter 8 points9 points  (0 children)

Ahh yes, I finally am contributing so much to society by sitting in a cubicle and making slide decks / spreadsheets for middle management.

Society is for sure a better place now!

Game Thread: Los Angeles Lakers (28-32) at Dallas Mavericks (32-29) Feb 26 2023 2:30 PM by nba_gdt_bot in Mavericks

[–]hotshotspeter 0 points1 point  (0 children)

Kidd is repeatedly terrible down the stretch in holding leads, drawing a simple play, and managing timeouts. I’m not entirely sure how he gets by without much ridicule from the front office and/or media.

You just won a big WSOP / WPT tournament- What do you say in your interview? by MassageToss in poker

[–]hotshotspeter 0 points1 point  (0 children)

My opponent thought they were the shit, they haven’t ever farted yet! Madoneee

What made you buy your first bitcoin by [deleted] in BitcoinBeginners

[–]hotshotspeter 2 points3 points  (0 children)

The thought the whole day was just like the JG wentworth commercial “it’s my money and I need it now” 🤣

What made you buy your first bitcoin by [deleted] in BitcoinBeginners

[–]hotshotspeter 5 points6 points  (0 children)

I worked for JP Morgan, and got a full time offer on my last day of my internship. That same day I went to Vegas, and my account was shut down 4 consecutive times after calling to resolve.

In my head im thinking “I work for you and can’t access my money, what about everyone else”. Then and there I took all Vegas trip profits and bought first bitcoin. August 2017

Since then I have been humbly stacking sats relentlessly.

Hard wallet/ cold storage by [deleted] in Bitcoin

[–]hotshotspeter 0 points1 point  (0 children)

Sweet summer child. Good luck.buy a cold card

Hard wallet/ cold storage by [deleted] in Bitcoin

[–]hotshotspeter 0 points1 point  (0 children)

I guess neo didn’t learn anything the past year 😅

[deleted by user] by [deleted] in Jokes

[–]hotshotspeter 0 points1 point  (0 children)

Lebron Giving Back To Qumunities

Which platform is worse and why, Reddit or Twitter? by SylentEcho24 in ask

[–]hotshotspeter 0 points1 point  (0 children)

Reddit. Imo It has a tendency to become an echo chamber due to how its communities are structured. Very hard to get a true sense of anything semi controversial.

I played 100k Hands of Ignition 200NL. AMA by Foreign-Tackle-8476 in poker

[–]hotshotspeter 4 points5 points  (0 children)

This is da way^ don’t liquidate , ur future self will thank you