The news in the Bitcoin world isn’t all bad. The tensor processing units (proprietary Google LLM chips) behind Gemini 3.0 fixed our Bitcoin v. Medical School page just in time for the Big Slide:
(adjusted for Bidenflation, Bitcoin is now down substantially from the mid-March 2021 price when everyone was filled with hope regarding the Biden-Harris administration leading us forward and out of the bad times of the Trump dictatorship (v1.0))
I wonder what this means for the Cirrus waiting list and aircraft values in general. A crypto investor seems like a natural personal airplane customer: (a) independent personality, (b) not averse to irrational purchases, (3) maybe a need to go back and forth to Puerto Rico frequently.
Stake in the ground: I’m not going to sell any Bitcoin!
Separately: “This Bitcoin crash is worse than a divorce. I lost half of my money and my wife is still around.” (source)
Readers: who has favorite X posts to share? I’ll start:
I heard about the Bitcoin downturn on Marketplace, one of the few programs on NPR I listen to. I also some thinking that the stock market was down in part due to announcements of investment in AI by big tech.
It’s really hard to get your head wrapped around the metaphysics and ontology of cryptocurrency. The process of creating it is called “mining”, which like gold takes energy. Attributing value to it, unlike gold-backed currency which has inherent aesthetics, scarcity, and industrial usefulness, seems more speculative. Especially before we had such a giant national debt, the U.S. paper dollar (fiat currency) was a credible portion of the value of America. There is societal value in Bitcoin if you consider its advantage of decentralization and security.
What value does evidence of wasting increasingly vast amounts of energy really represent? The modern incarnation AI seems somewhat parallel. I wish human intelligence was valued as highly and had some fraction of AI’s recent investment as a hedge.
Depends on how long your time horizon is & your market timing. Going from peak to peak, you’re better off in the stonk market now. Someone dollar cost averaging or buying the dips might do better.