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Despite Our Bitcoin Fanaticism, We Sold It All—Here's Why (& Our Current Financial Positions)
In this episode, we explore the evolution of Bitcoin and cryptocurrency, focusing on market timing, cryptographic challenges, and the potential impacts of quantum computing. We examine critical technical upgrades such as SegWit and the resistance within the Bitcoin mining community. The discussion also covers our decision to exit Bitcoin, investment strategies for high net worth individuals, and the shifting dynamics in venture capital driven by AI advancements. Further, we delve into the promising sector of AI-driven GPU data centers and their investment potential. Lastly, we touch on the unexpected shutdown of the UK Biobank and its broader implications.
Malcolm Collins: [00:00:00] Hello Simone! I'm excited to be here with you today! Somebody told me, one of our fans, they said, you guys need to do more episodes on like, How to make money and do business stuff . And at first I was like, well, I think we sort of covered those in our episodes.
Like how do you get rich? And things like that, because we've already done episodes on that. But I was like, no, actually I have some updates because in that episode, I told people very strongly. I said by Bitcoin this was on, this is not
Simone Collins: investment advice. We are not advisors and this is all hypothetical.
And we're talking about our personal experiences.
Malcolm Collins: I strongly felt it was a good time to buy Bitcoin. And the episode largely went into like, why in terms of valuing and investment, why Bitcoin was good on November 13th, 2023. And this is when the price was at 36. 5 K. Today the price is at 65. 4 K
Microphone (2- ATR2100x-USB Microphone)-1: No, the price has gone up to 67.2 right now this morning. So if you sold now, you would make even more money
Microphone (2- ATR2100x-USB Microphone)-2: off of this idea that we did. And for those who are like, oh, well [00:01:00] you, you know, you didn't. Get out at the top here. I am okay. Was doubling my money.
Speaker 5: I was paid too much! Billion dollars worth of Bitcoin two billion dollars well at the time a few days later the value spiked to like ten billion Then filled a fifty million and spiked again to a trillion and then dropped a bunch of times and right now It's all worth like seven or eight bucks.
Ah, geez. Yeah, I'm super pissed
Malcolm Collins: And we will be airing this a little after we record this, but we ended up closing all of our Bitcoin positions. And one of the reasons why we're doing this episode is just as like a, if I have an episode out there telling people go buy Bitcoin, And I have sold all my Bitcoin, which you didn't
Simone Collins: do because it's all not investment advice.
And this is all hypothetical.
Speaker 6: BiTcoin and you. Why you should be using the only truly free currency.
Greetings, financial wizards, industry leaders, and curious spectators, and welcome to the future. Yes, we're living in a high tech cyber world where just about everything is digital. The cinema has gone digital, radio is digital, why even love is digital? So then why, with the whole world going digital, are we still using dirty, crazy, non digital [00:02:00] government money?
That dollar bill in your pocket? A Nazi probably touched that So there's another way to spend and save money without the involvement of the government or the Nazis.
Bitcoin is that way. , Bitcoin is a purely digital currency that uses complicated cryptographic science to generate lots of super hard math problems. These math problems are converted by computers around the world into seemingly random strings of numbers that some people have agreed to pretend stands for a highly volatile potential sum of money.
Solving these math problems is called mining
you see, Bitcoins ar
Published on 1 year, 2 months ago