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Jeff Matthews

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Posts posted by Jeff Matthews

  1. https://www.bloomberg.com/news/articles/2021-04-18/bitcoin-falls-as-much-as-15-biggest-intraday-drop-since-feb?utm_source=url_link


    It's this kind of volatility that makes Bitcoin unsuitable as a medium of exchange.


    Sure, it might go up, up and away over the longer term, but you can't count on it tomorrow morning.  If you need to buy a new car tomorrow, or close on a house, or loan a family member a chunk of dough, you're at the mercy of a fickle market.

  2. No, but the Adcom 555 sure sounds familiar.  My friend years ago in the 1990's bought a new Adcom, and I think it might have been a 555.  It was a stout amp.  While still under warranty, it had (transformer/power supply?) issues, and I forgot how it was resolved - I think with a replacement amp of the same model.  I don't know if the problem was a one-off or not, but I will confirm it was a very stout amp.  He drove Klipsch Chorus I's with it.

    • Like 1
  3. 1 minute ago, JL Sargent said:

    Sometime after that, you might get that Letter of Testamentary if our Probate Judge is so inclined to oblige.  

    Sweet Home Alabama!  That's too bad.  There's really no need for it to take that long - at least that's what we think in Texas.

    • Like 1
  4. 1 minute ago, Zen Traveler said:

    Look at how much we spend on our military and humanitarian efforts that are also non income-producing.

    I think hegemony produces real value which is substantial but hard to quantify.  Vacant shopping malls, not so much.

  5. 1 minute ago, Zen Traveler said:

    Heck I saw they built and staffed an airport that no one is using ...yet!

    Right!  They've built entire ghost cities capable of housing 2 million people, and they just sit there empty.  Can you imagine that?  Non income-producing, depreciating real estate as an investment?  It's really bizarre, and I think it's destined to fail.

  6. 2 minutes ago, Zen Traveler said:

    I wish I were as hopeful as you but I think the odds are against it just like they were back in May.

    You might be right.  I just checked, and it showed Texas has fully vaccinated only 10% of its population.

  7. 4 minutes ago, Zen Traveler said:

    That's definitely one way to look at it but this quote from sage @BigStewMan got me thinkin' how we also need to look at it globally...Sometimes we get too USA--centric and not realize how things are viewed globally and the repercussions...

    Both China and Russia are manufacturing vaccines and using it for Diplomacy regardless of their other offeneses. This is definitely  from a Russian source but it's being seen in those countries mentioned as much as CNN. China and Russia to ensure global access to Covid-19 vaccines — RT Sponsored content and ya gotta think minds are being changed about those two countries....


    From the link: 

    China and Russia are working hand in hand to provide global access to Covid-19 vaccines.

    This is particularly relevant in a world where as little as ten countries control 75% of all vaccine supply, while many parts of the planet haven’t seen a single dose.

    To ensure equal access to vaccination, the People’s Republic of China pledged to provide 10 million Covid-19 shots to developing nations through COVAX – a global vaccine-sharing initiative backed by the World Health Organization. As of today, China has donated vaccines to 69 nations and has started exporting doses to 43 countries. In addition, it has contributed a share of its vaccine supply to the UN peacekeeping force and is ready to provide vaccinations to to the International Olympic Committee (IOC) and Olympic athletes.



    Yep.  China is its own empire in a sense.  It invests a lot in Africa.  

  8. On 3/12/2021 at 12:03 PM, Zen Traveler said:

    Wow! I was pleasantly surprised going into both a crowded (but social distanced) Kroger and Total Wines and both had 100% Mask compliance. 😷👏👍

    Masks are finally going away around here... slowly. 

  9. 13 hours ago, JL Sargent said:

    That's crazy. I went to the bank, set up beneficiaries on all my dads accounts per some good advice here. 5 years go by and I go back to verify those said beneficiaries for good measure. They only had 2 out of the 3 that were originally set up..............Totally dropped one person off the map. Isn't that comforting?


    You make an important legal point.  I have had numerous clients tell me they're not sure what they set up at X institution, Y bank, etc., if anything.  When something changes in life for them (a divorce, death of a spouse, death of a child, or just changing their mind, etc.), they have to wonder about all the places where they have to go and fix the beneficiary designations.  


    Contrast that approach with the traditional, simple will.  If all of your accounts are payable to your estate, they simply go to whomever you designate in your will.  That's much smarter because it's much more efficient.  Much less prone to errors.  Errors in estate-planning can be very costly.  The simpler, the better.  Just have a will and update it (and only it) as necessary.


    The argument against my advice is that, "Probate is slow and costly."  It's not (at least in Texas).  I can get a person letters testamentary within 3-4 weeks, no problem.  I would suggest that if a "survivorship account" is necessary, there should be only one, and it should be just for normal expenses for a few months, or so.

  10. On 2/20/2021 at 8:02 PM, Jeff Matthews said:

    It's time for a 1-50,000 Bitcoin split.

    It just occurred to me that would be inflation.  I guess it's stuck into the ether where it will always be measured in dollars.

  11. 1 hour ago, Schu said:

    and no one (including wall street genius') have any idea of where it is going.

    Very candid!  This is exactly right.


    1 hour ago, Schu said:

    The ONLY thing that can be gleaned is a theoretical price based on market capitalization and it's fixed supply

    By definition, its market capitalization tells us what it is worth now.  This statistic is completely agnostic to whether it should rise or fall in value.


    1 hour ago, Schu said:

    Another thing owning Bitcoin does for companies that keep it on their books is it is accretive to their bottom line...

    It doesn't have to be.  This goes back full circle to the first quote.

  12. The safest asset right this minute is the US Dollar.  It is that way because our government decrees it is.  So let it be written; so let it be done! 


    Anyone can argue to the contrary, but the powers that be tell us what is the standard.  They will always protect and preserve that standard.  It's how they've done their accounting for hundreds of years, and it will not be changing anytime soon. 


    Just look at the value of one Bitcoin these days.  I suppose a loaf of bread would cost, say.... oh, about .00005537 Bitcoin.  I mean, WTF is that?!!!  The math, alone, makes it silly.  I don't think the founder ever intended that it would work out like this.  Due to its startling success, maybe they need a new way to express it.  It's time for a 1-50,000 Bitcoin split.








  13. 59 minutes ago, oldtimer said:

    Apparently demand is greater than supply so far.

    Right. They're buying Bitcoin with the incredible killing they've made on Tesla stock.  All this newfound "wealth" is being traded, and it grows and grows.  But there's this huge "unreal"-ized aspect of it.  It's got to blow before long.  The market seems to have a "need" to cleanse itself of idiots every once in a while.  Just like drinking parties, they've got to come to an end if you are to survive to drink again.

  14. Frankly, Schu is probably right at some level.  BTC has a wide acceptance.  So does gold.  What is gold?  We use it to make jewelry.  We've used it in dentistry.  Some limited use is also made in high end electronics.  But at the end of the day, it sure as heck isn't money, and it has the same problem as BTC - namely, your only hope is that the next person pays more than you did.  Yet gold is claimed to have tremendous "intrinsic" value, and it has certainly stood the test of time.  I admit BTC can do the same thing; it's just that I don't have a lot of trust in it.  I think the next big dip wallop BTC and that AT&T's stock will fare much better.  We'll see...  I could be wrong.



  15. 3 minutes ago, Schu said:

    and the discussions over.

    What basis do you feel Elon Musk has for saying BTC's price "seems too high?"  Is there any rationale to that whatsoever?  Or is it just a hunch, a dumb guess, or other kind of fairy tale prognostication?  You tell me, because I don't even pretend to have a clue.  


    However, if you want to talk about Apple's profits and the new facilities to be built by Intel, I can discuss those.  There's actually substance to talk about, even though I admit there remains plenty to also guess about.

  16. 2 minutes ago, Schu said:

    So there would never be a 'RUN ON BANKS'?

    come on now...


    the debate you are attempting to have is not a debate, it's hysteria.


    these comments and ideas that are be touted are not new or have not been discussed ad nauseam... they have, and the discussions over.

    ... and because they have been discussed ad nauseum, it means it is not settled.  That much, you can take to the bank!

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