Pomp Podcast #233: An Open Letter to Ray Dalio re: Bitcoin (Livestream Pt. 2/2)Jan 25, 2022
speed of light squared, so it matters that this table was really light, but it's frozen light, right, and the same as water is to ice, energy is important, it's kind of an analogy, right , and Joseph Campbell was this famous American mythologist who said he thought. that energy and consciousness were the same, so I think everything is conscious, like the whole universe is alive, just we're more alive or like a higher frequency of consciousness, whereas this table has a really low frequency. I have nothing to back that up. by the way it's just some kind of stuff I've put together so to speak aliens I mean like us they're almost certainly out there mathematically but I think consciousness is ubiquitous I don't think I expected anyone to say that the table has a conscience that's fantastic okay one question do you have for me to finish what worries or scares you about this transition I mean it's clearly it's important so what do people see that they can be best helped will miss it and the double reason is a parachute that is masquerading as an adrenaline rush ok i like that which means the escape hatch that what can save you from the existing system is being promoted by many as because right So if you think which is like jumping out of a plane, there are some people who do it for the adrenaline rush and then there are some people who are very thankful that I have a parachute, yeah right, because I fell, it's very hard to get someone who doesn't.
I don't like the adrenaline rush to jump out of a plane and even planes crash. Suddenly everyone wants to skydive. not just america around the world financial education that even people who understand even people who believe this has value and can be important fear wins the day and so a man you know What I tell people all the time is that I can't say and what to do in your personal situation? I don't have all the facts. Incorrect information. It's not worse than being wrong, so if you're the person who makes fifty thousand dollars a year, has twenty thousand dollars in savings, has bills, has to pay, has a family, etc. and you buy $10 of Bitcoin because you think that's the future mm-hmm and you're right that $10 will have no impact and again what ends up happening is what is the risk tolerance someone has how do they think about portfolio management? to take risk off the table in some situations, how do you think about the other things you're doing in your portfolio that can reduce overall risk? some of the best professions every money manager or financial advisor in the world is wrong mm-hmm if you are an individual chances are you can align various decisions so i have to do my job or my own research.
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pomp podcast 233 an open letter to ray dalio re bitcoin livestream pt 2 2...
So I have to understand what this is. I have to believe that it will be important and valuable. I think I have correctly sized my portfolio for the trade-offs, although I must have the gut strength, courage, persistence, and frank naiveté not to be emotional and biased when volatility occurs and afterwards. at some point i have to be able to navigate security, announcements from different governments and organizations and almost like you start to overlap all the things to end up at the end having hit the right size, not completely unbreakable etc. It's going to be a small number of people and yes, that's why it's important to stay humble in stack sets.
Look, Marty's coming over here in a little while, and I think he and Matt Odell are right. By the way idea man that's the meme for a Bitcoin I tend to think back you know I say it over and over on the
podcastlike people have to do their own research they have to understand that there's a lot of risk on this, but in case any of this is correct, we're talking about something that we can't comprehend today, that's right, and what I always describe to people is when the iPhone was created 12 years ago , we're not talking a long time ago, I think it's 13 years, so 2007, who in their right mind thought the
podcastwas a super?
There are literally people watching a live stream right now of us having this crazy conversation who would have thought that 30 years ago yeah no one so not only do we overestimate what we can do in a year and underestimate 10 but you know the doors. I quote but I ac Usually I think over a period of 20 to 30 years on day one, we can't even imagine, we couldn't even dream of what's possible for the truly innovative: starting from the technology, the question it comes down to whether
bitcoinis going to be one of those or how
bitcoinis going to go the way of all the other things that we're going to be great, it ended up not being like the rate of change is faster we become more blind to what's in store for us the future, almost yes, is as fast as us.
I can't understand capitalization, we don't understand exponential growth, okay, that's what the digital age is all about, it's building on the internet, yeah, okay man, where can people find you on the internet? breedlove 22 which is my last name as BR ee d l.o.v.e 22 where the 22 comes from is just one of my favorite numbers and I get some crazy high school sports stories about a conscious table or something yeah I post there about a lot of my writing and our website is parallax digit al i/o PA it's a double lax digital i/o awesome n thanks for coming to do this thanks man it's so much fun i think people will like it i hope let them do it let's see
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