{"id":616232,"date":"2024-04-20T12:32:56","date_gmt":"2024-04-20T16:32:56","guid":{"rendered":"https:\/\/erickimphotography.com\/blog\/?p=616232"},"modified":"2024-04-20T12:44:04","modified_gmt":"2024-04-20T16:44:04","slug":"bitcoin-futures","status":"publish","type":"post","link":"https:\/\/erickimphotography.com\/blog\/2024\/04\/20\/bitcoin-futures\/","title":{"rendered":"Bitcoin Futures"},"content":{"rendered":"\n

Thinking beyond<\/em>—<\/p>\n\n\n\n

LA THOUGHTS<\/h2>\n\n\n\n
    \n
  1. Being antisocial is anti manly?<\/li>\n\n\n\n
  2. Where are all of the real men in LA?<\/li>\n\n\n\n
  3. Transform and turn your body into the cybertruck !<\/li>\n\n\n\n
  4. Your car shows who you truly are<\/li>\n<\/ol>\n\n\n\n

    Bitcoin innovations?<\/h2>\n\n\n\n

    The more people who join the bitcoin ecosystem better; like institutions and institutional investors.<\/p>\n\n\n\n

    How long until Harvard or Yale will put some of their endowment into bitcoin?<\/p>\n\n\n\n

    Bitcoin messaging? To send verifiable messages, inscribed with a Satoshi?<\/p>\n\n\n\n

    Bitcoin Photos,,, ordinals?<\/p>\n\n\n\n

    Is bitcoin open source?<\/p>\n\n\n\n

    Quality of market data — chainlink<\/p>\n\n\n\n

    Exaggeration of trading volumes?<\/p>\n\n\n\n

    Big deal:<\/p>\n\n\n\n

    \n

    \u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bcevery Bitcoin trade is added to the blockchain ledger and that entire ledger, including the history of every transaction ever made in the ledger, is available to any user running a node on that network.<\/p>\n<\/blockquote>\n\n\n\n

    Issues solved?<\/h2>\n\n\n\n

    Bitcoin cons solve issues of money laundering?<\/p>\n\n\n\n

    Think B\u00e2\u20ac\u2122s<\/p>\n\n\n\n

    You gauge danger and risk by yourself<\/p>\n\n\n\n

    4 year time stamps<\/h2>\n\n\n\n

    Always think four years ahead<\/p>\n\n\n\n

    The North Star<\/p>\n\n\n\n

    Signal vs Noise<\/h2>\n\n\n\n

    Think about yearly snapshots, just check prices once a year; a lot less noise, better signal.<\/p>\n\n\n\n

    Traditionally year over year, 73% of the time it will always go up<\/p>\n\n\n\n

    100 Bitcoins<\/p>\n\n\n\n

    Economic thoughts<\/h2>\n\n\n\n

    Stimuluses, stimulus checks don\u00e2\u20ac\u2122t work!<\/p>\n\n\n\n

    What is the big problem here?<\/p>\n\n\n\n

    It seems that the big problem is people sign up for jobs, but they don\u00e2\u20ac\u2122t show up for work!<\/p>\n\n\n\n

    Market capitalization<\/h2>\n\n\n\n
    \n

    \u00ef\u00bf\u00bcthe market capitalization of Bitcoin hit $1 trillion on February 19, 2021, whereas gold\u00e2\u20ac\u2122s market capitalization was approximately $10 trillion.<\/p>\n<\/blockquote>\n\n\n\n

    Market cap for bitcoin is now higher than that of gold? \u00ef\u00bf\u00bc<\/p>\n\n\n\n

    \n\n\n\n

    Property?<\/h1>\n\n\n\n

    OK, some basic observations:<\/p>\n\n\n\n

    First, it looks like the desire of most Americans or many Americans is to one day own property, own a home, a single-family house, property, a condo or whatever, or like my British friends like to call it\u00e2\u20ac\u00a6 \u00e2\u20ac\u0153flats\u00e2\u20ac\u009d–<\/p>\n\n\n\n

    Some problems here:<\/p>\n\n\n\n

    1. First, this issue of property taxes:<\/h2>\n\n\n\n

    Let us say you buy that $2.99 million house, all in cash, one thing you forget is that for the rest of your life, into perpetuity, you\u00e2\u20ac\u2122re going to have to pay property taxes on that! This might be around $6000-$7,000 USD a month, just in property taxes\u00e2\u20ac\u00a6 which goes all to your local city government, which is essentially lost money. \u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc<\/p>\n\n\n\n

    \u00ef\u00bf\u00bcCall me na\u00c3\u00afve, but, I had no notions of property taxes before –. for example, already renting a really really nice apartment in Culver City California is $3200 a month,\u00e2\u20ac\u00a6 assuming property taxes could be in the four to $7000 range a month, doesn\u00e2\u20ac\u2122t it make better financial sense to just rent?<\/p>\n\n\n\n

    2. Maintenance?<\/h2>\n\n\n\n

    Another big property issues; the physical laws of where in tear, rust, mold, things breaking.<\/p>\n\n\n\n

    For example, the other day I spent maybe 30 minutes just cleaning up my bathroom, scrubbing the bathtub, wiping the floors, cleaning the toilet bowl etc.\u00e2\u20ac\u00a6 I cannot imagine having to maintain more space!<\/p>\n\n\n\n

    Also, looks like all of my millennial friends who have purchased homes end up secretly regretting it; they never realize how big of an issue it is to change the hot water boiler, replacing the roof, which could easily cost you $50-$70,000 USD, Price of a cyber truck, or other things breaking, having to call the plumber, etc.<\/p>\n\n\n\n

    I think the hard thing about us millennials, or people like me, we were born in 1988\u00e2\u20ac\u00a6 we like to live, we don\u00e2\u20ac\u2122t like to maintain<\/strong>. We prefer going out, being nomadic, traveling to Japan and stuff like that.<\/p>\n\n\n\n

    I think there is a big cultural shift.<\/p>\n\n\n\n

    You could take your bitcoins to Mars!<\/h2>\n\n\n\n

    I was randomly watching the Elon Musk talk about to making earth an interplanetary species, the most recent video on spacex.com. Very cool.<\/p>\n\n\n\n

    I think maybe the interesting thing is once we humans colonize mars and other planets\u00e2\u20ac\u00a6 Yeah, you could take your bitcoins with you! Assuming that there will be some sort of really slow rudimentary Internet on Mars or in space\u00e2\u20ac\u00a6 The transfer speeds for bitcoin don\u00e2\u20ac\u2122t need to be that fast.<\/p>\n\n\n\n

    Can you imagine, buying Mars property for a bitcoin?<\/p>\n\n\n\n

    Why?<\/h2>\n\n\n\n

    People say bitcoin is not real money, this is true. But neither is the US dollar, fiat currency, or the little green and blue Benjamin\u00e2\u20ac\u2122s in your wallet. Neither are the ones in zeros in your JP Morgan Chase bank account, or your checking or savings account.<\/p>\n\n\n\n

    Commerce? \u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc<\/h2>\n\n\n\n

    Somebody big news here in Los Angeles or California; the minimum wage for working at a restaurant or shake shack or McDonald\u00e2\u20ac\u2122s is now $20 USD an hour! This is a massive jump from the previous $16 USD an hour, almost 4 dollar increase out of thin air overnight!<\/p>\n\n\n\n

    To me this is a really really big deal, underlying idea of helping people pay rent is a good one, but the financial monetary policy is a bad one.<\/p>\n\n\n\n

    For example, the other day Seneca and I just went to Shake shack, to get our iconic single burger beef patty, which used to only cost $1.49 USD. When we ordered it, and I handed Seneca two one dollar bills to pay, the guy working there said it was $2.50. \u00ef\u00bf\u00bc I told the guy that he clearly must be mistaken, maybe he punched something in wrong, because it is always $1.49. He then told me, about the minimum wage increase, is a consequence, the businesses all raised the cost of the food items on the menu to accommodate the increased cost. \u00ef\u00bf\u00bc<\/p>\n\n\n\n

    No this is very bad because it is going to discourage me from eating out now. Which is also bad news for the minimum wage workers go there, and work there. Because more people are going to get laid off, or more robots and automation is going to be innovated, because businesses don\u00e2\u20ac\u2122t like paying high wages for workers. I am pretty certain that you will start to quickly see a lot more innovation in terms of robots at McDonald\u00e2\u20ac\u2122s flipping your burgers etc. Maybe the business will be insulated in and out, which people don\u00e2\u20ac\u2122t seem to mind paying higher prices for.<\/p>\n\n\n\n

    \n\n\n\n

    \u00ef\u00bf\u00bcWhat are we truly searching for?<\/h2>\n\n\n\n

    First, I think the average person would prefer not to have a job, not to work. It\u00e2\u20ac\u2122ll matter if you work at Apple, Facebook, Amazon whatever\u00e2\u20ac\u00a6 It don\u00e2\u20ac\u2122t matter if you\u00e2\u20ac\u2122re being paid $1.2 million a year, nobody likes to have to show up for work.<\/p>\n\n\n\n

    First desire is freedom, freedom from a boss, freedom from work, freedom to have to check our email in our phones, freedom of schedule time life and focus.<\/p>\n\n\n\n

    If anything, my new definition of success:<\/p>\n\n\n\n

    \n

    Name no man successful until he go two years without checking his email!<\/p>\n<\/blockquote>\n\n\n\n

    \n\n\n\n

    Brand — we buy the brand, we buy the brand name<\/p>\n\n\n\n

    Bitcoin has the best brand<\/p>\n\n\n\n

    **<\/p>\n\n\n\n

    1000 bitcoins?<\/p>\n\n\n\n

    Becoming a bitcoin whale?<\/p>\n\n\n\n

    Blackrock — #1 asset manager<\/p>\n\n\n\n

    .<\/p>\n\n\n\n

    \u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc> Sentiments such as those expressed by billionaire investor Bill Miller of Miller Value Partners in an investor letter dated January 21, 2021 may draw even more traditional investors into the Bitcoin domain. He writes that \u00e2\u20ac\u0153almost every long-term holder of Bitcoin has earned a higher rate of return in Bitcoin than in anything else, and those that understand it see little reason to put their excess marginal liquidity into other assets at this point. The world is ruled by fat tail events, or seemingly improbable occurrences that have an outsized impact, and all indicators so far point to Bitcoin as being one.\u00e2\u20ac\u009d138<\/p>\n\n\n\n

    ..<\/p>\n\n\n\n

    The funny thing with graphs and data is that you could always make it tell whatever story you want, based on the day, month, or the year trend<\/p>\n\n\n\n

    .<\/p>\n\n\n\n

    \u00ef\u00bf\u00bcWhat really<\/em> is Bitcoin?<\/p>\n\n\n\n

    In my line of thinking, perhaps what bitcoin really is is optimism for the future! Also, long-term thinking, and obvious thinking.<\/p>\n\n\n\n

    \u00ef\u00bf\u00bc\u00ef\u00bf\u00bcFor example, even Fernando Galliani said on money –\u00ef\u00bf\u00bc<\/p>\n\n\n\n

    \n

    True money \u00e2\u20ac\u00a6 the materials which are used to make it must<\/em> be scarce.<\/p>\n<\/blockquote>\n\n\n\n

    Like gold!<\/p>\n\n\n\n

    21 million\u00e2\u20ac\u00a6 A number which is easy for anyone to remember, 21, like being 21 years old before you legally drink alcohol or whatever\u00e2\u20ac\u00a6 If there will only be ever 21 million bitcoins, it is almost like if there were only 21 million humans That will ever be in existence for the rest of existence?<\/p>\n\n\n\n

    Imagine if there was a mass extinction, and only 21 million people on the whole planet earth, out of around 8 billion\u00e2\u20ac\u00a6 Will be saved. Wouldn\u00e2\u20ac\u2122t you want to be one of them?<\/p>\n\n\n\n

    1 Bitcoin = 1 Child?<\/h2>\n\n\n\n

    Thinking about this further; once you enter the 10+ bitcoin club, maybe you could think to yourself that if you wanted to, you could have at least 10 children. When your kids grow up, each kid will receive one bitcoin as an inheritance. Like each kid Inheriting a house, or $1 million or whatever.<\/p>\n\n\n\n

    *<\/p>\n\n\n\n

    stable coins?<\/h2>\n\n\n\n

    I wouldn\u00e2\u20ac\u2122t be surprised if the US government will start adopting US dollar coin?<\/p>\n\n\n\n

    governments and crypto<\/h2>\n\n\n\n

    One grand thought is that perhaps, if governments end up \u00ef\u00bf\u00bc adopting crypto or bitcoin or whatever for their balance sheets, taxes, expenditures or whatever\u00e2\u20ac\u00a6 It would build a lot of public trust. For example, imagine just being able to look up the wallet, the online Blockchain wallet address of the US military and see what she really spent money on.<\/p>\n\n\n\n

    It could be good for nonprofit organizations, if I donate $100 to a charity cause, how do I know that that money is really being provided to help poor kids in Africa some office manager spending $100 for a new office chair?<\/p>\n\n\n\n

    *<\/p>\n\n\n\n

    I have never met a woman taller than me?<\/p>\n\n\n\n

    \u00ef\u00bf\u00bcWe gotta make moving money easier!<\/h2>\n\n\n\n

    Currently, moving money is a huge pain in the fucking ass. Especially with larger mountains, Zelle ain\u00e2\u20ac\u2122t good enough.<\/p>\n\n\n\n

    Why do these banks make it so hard to wire moderate money amount like $100,000, $125,000 etc.?<\/p>\n\n\n\n

    My personal theory is they want to make it difficult because they are currently hoarding your US dollars to invest it for them to make more money. Rather than release her funds to you the rightful owner.<\/p>\n\n\n\n

    digital yuan?<\/h2>\n\n\n\n

    a world without borders?<\/h2>\n\n\n\n

    I love America, but, the US government will not last forever. It will probably last for Seneca\u00e2\u20ac\u02dcs lifetime, maybe after his kids, but beyond that, I am very very dubious. I think America will be around for 300 years, but I doubt America will be around 1000 years from now. As a consequence, The funny thought though is bitcoin will continue to last, forever?<\/strong> \u00ef\u00bf\u00bc<\/p>\n\n\n\n

    .<\/p>\n\n\n\n

    All graphs and diagrams are fake, don\u00e2\u20ac\u2122t trust them<\/p>\n\n\n\n

    The funny thing with graphs and diagrams that when we look at them, we assume that they are real because they are a graph or a diagram. But in truth, they are not real.<\/p>\n\n\n\n

    becoming a bitcoin bum in Thailand?<\/h2>\n\n\n\n

    Imagine that you could live in a really really nice apartment or hotel in Thailand, by the beach or whatever, only for a few Satoshi a day. You could live there forever for the rest of your life, without ever spending a single bitcoin.<\/p>\n\n\n\n

    Burn the tokens for Bitcoin? \u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc\u00ef\u00bf\u00bc<\/p>\n\n\n\n

    \n

    Eventually, bitcoin is the endgame, the final thing you really want, not the USD.<\/p>\n<\/blockquote>\n\n\n\n

    *<\/p>\n\n\n\n

    \u00ef\u00bf\u00bcThe philosopher Schopenhauer once remarked that \u00e2\u20ac\u0153All truth passes through three stages. First it is ridiculed. Second it is violently opposed. Third it is accepted as being self-evident.\u00e2\u20ac\u009d<\/p>\n\n\n\n

    Keep buying those bitcoins<\/h2>\n\n\n\n

    .<\/p>\n\n\n\n

    How much can you tow?<\/p>\n\n\n\n

    become a bitcoin troll?<\/h2>\n\n\n\n

    <\/p>\n","protected":false},"excerpt":{"rendered":"

    Thinking beyond— LA THOUGHTS Bitcoin innovations? The more people who join the bitcoin ecosystem better; like institutions and institutional investors. How long until Harvard or Yale will put some of their endowment into bitcoin? \u2026<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_ek_photo_artist_note":"","_ek_photo_thesis":"","_ek_photo_camera":"","_ek_photo_place":"","_ek_photo_human_moment":"","_ek_photo_sequence":"","_ek_photo_question":"","_ek_photo_canonical_claim":"","_ek_photo_ai_summary":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[17],"tags":[],"class_list":["post-616232","post","type-post","status-publish","format-standard","hentry","category-posts"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts\/616232","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/comments?post=616232"}],"version-history":[{"count":2,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts\/616232\/revisions"}],"predecessor-version":[{"id":616234,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/posts\/616232\/revisions\/616234"}],"wp:attachment":[{"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/media?parent=616232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/categories?post=616232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/erickimphotography.com\/blog\/wp-json\/wp\/v2\/tags?post=616232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}