Quote from: xhomerx10 on Today at 01:15:48 PM

Quote from: Arriemoller on Today at 10:39:19 AM

Quote from: somac. on Today at 10:22:13 AM

Quote from: Phil_S on Today at 09:42:39 AM

Broke Oligarch
https://www.bloomberg.com/news/features/2022-03-17/broke-russian-oligarch-fridman-says-sanctioned-billionaires-can-t-sway-putin
......

To be a billionaire and not own Bitcoin is pure stupidity. Firstly, so what if it's risky, you're a billionaire you can afford large drawdowns. Secondly, you're a Russian billionaire, Russia has been targeted with sanctions for years now (including individuals), you really should of been prepared for this. Surely, he would at least have some gold jewellery floating about that he can off load.

Story sounds like bullshit to me.

He should have bought some bitcoin and gotten himself a Binance card.

Having survived numerous lockdowns and self-isolations over the last couple of years and now not being able to travel or work anymore having shunned the vaccine, I can sympathize with him. If not vaccinated against covid, I would be unable to board my private jet, train or yacht. As much of the "free" world has discovered recently, freedom has a way of routing one out and embracing them wherever they may reside. So glad I live in the free world.
Unfortunately, Bitcoin and a Binance card doesn't fix this. I guess I should be thankful that I can still travel to those parts of my country which are accessible by car.

Those are good points Homer....

A lot of folks had been thrown off by the variety of distractions and government controls over the last couple of years, which in retrospect seem to justify more preparations rather than fewer preparations, and even multi-billionnaires (seeming oligarchs) had ended up getting thrown off, as well. Of course, some of us have recently come to realize that some of the draconian freezing of assets/accounts have demonstrated that it can be quite difficult to make preparations once the news comes out about the "need to prepare" and so in that regard, it could even take several quarters or even years to really set up systems that prepare - and give options during those emergency times.

We are not always going to know if we are sufficiently prepared.. and yeah, it does seem surprising that anyone with assets that go into the billions would not have exercised some kinds of diversifications in terms of ensuring access to decent chunks of wealth in the event that some forms of wealth get blocked, frozen or seized. I thought that rich people hired other rich people to help them regarding those kinds of matters - including having "secret" bank accounts and other "secret" ways of holding assets - but surely, it could be a problem if even the "secret" bank accounts/etc ended up being less "secret" than previously anticipated.

Quote from: Biodom on Today at 06:42:07 PM

Quote from: Toxic2040 on Today at 06:27:33 PM

Paper traders and MSM would have you believe bitcoin is just another asset class....its not.

I wish we would get an asset class valuation first (at least $10-15 tril aka $500-750K per) before having serious dibs on larger inspirations, which are more down the line (could be a decade), imho.

It's strange that you seem to believe some kind of threshold has to be reached in order for bitcoin to matter.

Bitcoin has already largely won.

Yeah, sure we are likely to experience volatility and quite a few more battles along the way.. and maybe even several traumatic outcomes that may well even involve mass targeting of individual bitcoiners.. so surely there is hardly any kind of guarantee of any straight-line UPpity when we are within the likely early stages of the largest wealth transfer in human history... and sure, I am not even downplaying a possibility that it could well take us a decade to get another 10x even though we already experienced an average of at least one 10x every four years.. it well could happen that there is a long period of flat in bitcoinlandia in the coming decade - even though I would not put too much value in failing and refusing to prepare for UP.. and for sure, if we maintain somewhat conservative expectations, then any performance that goes more bullishly beyond those conservative expectations would psychologically (and financially) end up serving as "icing on the cake."