GM Sometimes I get riled up about shit that does not matter at all

Today a gold bug told me silver was undervalued because it comes out of the ground at a ratio of 15/1 with gold. Based on his logic silver should be close to $300 per oz. This is like saying that some shitcoin should be priced at it's issuance ratio with Bitcoin regardless of the premine. I told him to look at the market cap, which was at a ratio of about 4/1. Which means silver is terribly overvalued and in order to maintain the current ratio, gold would need to 3X with silver staying the same price. Obviously the same logic applies to bitcoin vs gold, but this guy could not follow what I was saying on the first step. Nothing makes me more bullish than talking with someone like this.

I haven't seen anyone wearing a mask alone in their car in a long time 🙂

Red candles build character

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What most gold bugs are not anticipating is sovereign wealth funds unloading bullion for bitcoin

Remember when everyone was upset about sats vs bits?

Australian Jewel Beetle moment coming View quoted note →

When you understand that central planning destroys freedom and productivity the future is a lot more predictable

The sheer trading volume on BTC and BTC ETFs is an indication of the type of wealth interested in it as an investment right now. The big boys are preparing to learn the same lesson many of us did years ago. Bitcoin is for holding, not trading.

Nostriches unite View quoted note →