iBankCoin
I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
3,113 Blog Posts

All this bitcoin money is turning me into a savage

It has been a slow news week.  In the trading industry, this lack of news flow can be enough to drive one mad.  Without rigorous loyalty to a methodology, you may find yourself pushing half your risk into random, meaningless minutia.  Sideways nothingness that moves against you just enough to blow your account into a million bits.

I have a different problem entirely.   I have not made a single futures trade in weeks.  The ownership of bitcoin has put me in an unexpected financial predicament heading into year-end.  There was no expectation of this excess wealth, and the numbers on the computer are turning me into a roaming animal, canvassing the united states for thrills.

In these past 48 hours alone enough money was made to convince me to head down to Miami.  I will be there tomorrow evening.  My plan is to see if I can convince an artists to let me pay for a painting in bitcoin.

I need to strip some of this crypto money off my books, but to convert it to silly american dollars would be an insult to my person by creating a taxable event.  There is a better way.

Pay the artists.

Speaking of bitcoin, have you heard the theory that bitcoin was invented by Artificial Intelligence that traveled back in time?  You’ll have to fasten your tin hat in place for this one—basically the AI came back to the year 2009 and created bitcoin as a means of incentivizing humans to commit computer power to building out the AI’s nervous system, which required massive amounts of calculus be done.

How do you entice the pathetic human to act?  With economic incentive, of course.

And it is one of those theories that is hard to negate because we have no way of proving it wrong.  Who is Satoshi Nakamoto?  Is he John Galt or some robot from the future?

In either case more energy is committed to mining bitcoin then is used by the entire country of Denmark.  And if the growth continues on its current trajectory, it will use as much energy as the entire United States in 18 months’ time [source].

Meanwhile the CBOT and CME will begin trading options and futures on bitcoin this month.  While the contracts are still tied to US dollars, they also allow easy access to leverage and liquidity.  All those bitcoins sloshing around is changing everything we know about economics. And remember…

These are trying times indeed.  If you followed dumb political news too closely, you may have been convinced several times that calamity was certain to ensue, so much mayhem and calamity that you may have sold your stocks for pathetic us dollars.  Brutal.

Which is why I am taking this time to address you today before I venture down the America’s urethra—you must insist on choosing your disciplines well.  Auction theory has been my companion for nearly 10 years now.  It has stood the test of time and given me an objective means of viewing the market.  Those market profile charts were a bit awkward at first, but now they are everything.  I can see change.

Auction theory has me long these coins, son.  Because we are still discovering higher value.  There has not even been an attempt to balance.  So we press onward.

How much more simple is that then understanding sentiment, or blockchain, or how and why some fucking news bit matters?

When the man on the TV is not around and your accounts are moving all over the place, you are not going to feel too comfortable.

Auction theory.

The thing about wealth and me is it does not suit me to build up too much.  I feel confident in my ability to earn a certain amount and anything beyond that has no place in my purse.  I live like a beggar, drive POS cars, and have been wearing the same clothes for a decade—mostly from Costco.  My burn rate is low.  I can fast, and wait.  It is like a super power.

Opportunities are like buses, another one is coming.  But what terrifies me the most is not hustling enough on Tuesday that I cannot go to Miami Thursday when a nice lady offers me a free place to stay.  If I did not work 16 hours yesterday and 10 today, tomorrow would not have been possible.

I could probably be working more, but with the way things are going my time is better spent smelling hibiscuses and eating fresh ceviche.  The 1% er lifestyle on to hobo budget.

From Zion-to-Vegas-to-Santa Barbara-to-Jackson Hole, a brief 60 layover back home, then down to Art Basil.

It feels like I am living my best life.

And this is why I need to be careful.  Because after the good comes the bad.  So we might as well enjoy it all the same.  Regardless, I can feel the hubris coursing through my veins, so I need to convert some of this bitcoin into real life stuff, and fast.

WML

Raul Santos, December 6th, 2017


“… a narrative about the Y generation, about how people can become desperate about creating the perfect piece of work, the ultimate fulfillment in the eyes of others. The obsession of a promised, expected fulfilling life.” – JODEB

 

 

 

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5 comments

  1. Dr. Fly

    Congrats, you deserve the wins. I like the AI theory.

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  2. The Maven

    It’s going to crash and crash hard. I’ve been saying that since $400. :/

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  3. it is showtime

    I think it’s right in line with 9th inning endgame. Probably 2 primary objectives of blowing Btc up. But it’s clear the cb hierarchy decided to hit bcoin, and are now just igniting one session after another. Of which a proper skeptic detected the initial stages of, a couple months ago. To make an example of.
    To blow up.
    Just the opposite of a lot being said. ie, It will be untouchable to bank power
    They kind of knew that? So they preempted that? Uh ya think?
    In what couldn’t be more of a cliche bubble tracing
    Fits right in with the endgame taking place

    the final obvious forced equity pushing over 45’s admin as the space around the losing power structure gets tighter and tighter toward prosecution
    I do not, think it’s coincidence, such a perfect parabolic, now vertical, increasing of a trendy asset, whether threatening to their power or not

    is climaxing
    and in the most
    nauseatingly glaring
    awr yew fucking kiduhing ma

    way possible

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  4. cwinsor

    enjoy your gains. while it is entirely reasonable to expect that bad times will follow good, often this awareness can mortgage all enjoyment of the present if not kept in check.

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