Friday File, Part Two: Grant’s Conference Notes
by Travis Johnson, Stock Gumshoe | April 13, 2018 10:14 am
Thoughts on the big picture, plus inflation, bitcoin, life insurers, closed-end funds, gold and more from the Spring Grant's Conference
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Travis, Thank you so much for the Grant Conference review. It certainly gives me ‘pause for the big picture’. I particularily liked your review of David Rosenberg presentation. I also liked your cryptocurrency comments; I too am a “fuddy-duddy “ownership” idea” thinker and believe value will fall. Looking forward to your Fairfax Financials meeting review.
Travis, you mentioned buying gold coins. Where do you purchase them?
Bitcoin and other such stuff are destined for tomorrow’s dustbin.. T he electric power needed to sustain their records in perpetuity will surely (eventually) eat them for desert.
This is false. There are blockchains that do not use the resource hungry Proof of Work consensus mechanism popularized by bitcoin. Blockchains that scale will survive
Thanks! Very nice overview.
RE: blockchain comments above – seems most are making outdated references – if you want a better idea of where the technology is heading consider looking at a penny stock “SX” (St Georges Eco Mining) listed on the Canadian Venture Exchange
Do you think the dominated cryptocurrency is a better way to store value and transfer wealth across countries than gold? In the crisis, it is hard for a wealthy person to leave the country with lots of his gold, but he could take all his cryptocurrency across the border with his cellphone. With such convenience, I think the price of dominated cryptocurrencies that have most liquidity will still increase.
As long as you are talking crisis scenarios, imagine the worst case ones.
And when crisis hits, those at the “border” of wherever you happen to cross would never entertain the idea of loping off your finger/thumb or plucking your eyeball for gaining entrance into your cellphone you’ll be asked to give them.
There is no easy option, or anything guaranteed to protect your wealth, be it hard assets or digital.
Good point. In extreme crisis like global war, nothing protects you better than weapons and food. However, what I talk is personal crisis or region crisis, like you need to flee out of your country. Do you think cryptocurrencies is way better than gold in such minor crisis?
Sorry for no response to you aarhus.
I am NOT someone you can talk to about cryptocurrencies. To quote Sargent Schultz, “I know NOTHING”! (hope that you know what I’m talking about!)
Every once in a while i come over and try and understand what you folks are saying. I leave, not learning a thing.
Personally, I don’t understand how someone who doesn’t trust the banks CAN trust cryptocurrency. If it were a legitimate way of buying and selling based on actual fact and a tangible “something”, I might see how it could be believed.
No, I don’t trust the banks, but how do you trust a currency that is also a fiat currency, value runs amok WORSE than the dollar, only the gifted can mine it and make money on selling it to the lowlifes.
Almost sounds like Banking, and mining it is also reserved for those who can afford it….think the 1 per-centers.
When they say you can actually hold onto gold or silver, there is a preconceived notion out there that there will always be electricity to use, and people don’t think the government can shut down the internet. I would much rather trust myself, and maybe if I did trust or even understand Crypto, I would not rely on just one method to protect my savings.
My rant, and I’m sticking with it. Best of luck to all of us, we’ll need it.
edski
Travis, I can tell that you still don’t truly understand crypto based on your lexicon. In your terminology, you reduce all crypto and blockchain down to ‘cryptocurrencies’ – but the the currency application is just one category of blockchain usage. There are an assortment of crypto categories including currencies, smart contract platforms, distributed applications, security tokens or coins that contain attributes from multiple categories. There are new business models emerging to support the use of this new technology, and if you continue to evaluate them all like currencies you’re missing out on the great innovation that’s happening, and more importantly you lack the edge in differentiating between the winners and losers
Does anyone subscribe to Jim Grant’s service?
I find him brilliant but tend to think he can be way off wrt timing.