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  • WOW!! Seriously?! That astounds me. I would take so much less business risk if I couldn’t use unsecured debt as needed. Thanks for clarifying... I guess you really do learn something new every day!

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  • Wow Michael, I rarely disagree with you but there's one bit of advice you gave here that really made me sit up in horror (unless I misinterpreted what you wrote in which case feel free to correct me). Maybe unsecured debt works differently in Australia, but here in the US it's generally a...

    Wow Michael, I rarely disagree with you but there's one bit of advice you gave here that really made me sit up in horror (unless I misinterpreted what you wrote in which case feel free to correct me). Maybe unsecured debt works differently in Australia, but here in the US it's generally a terrible idea to ever collateralize your credit card debt by rolling it into your home mortgage. All you end up doing is securing your unsecured debt. If the absolute worst case financial scenario happens, you can walk away from (or even settle at a greatly reduced amount) unsecured debt with no real repercussions other than a wallop to your credit report for a few years - which can absolutely be repaired and recovered from. But try not paying your mortgage for long and you find yourself without a home.

    I can only think of a few scenarios where I would ever suggest that someone increase their mortgage in order to get rid of credit card debt. Sure at first glance it seems like a no brainer - trade 25% interest for 4% interest! But that's not all you're doing. I go to great lengths to manage and protect my unsecured credit as it's a major asset for me, but it's also the first one I can let go of if I find myself in a true financial crisis. My home is the last item I would put at risk if I could help it in any way.

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  • Unfortunately this is exactly the world we live in now. The Court of Public Opinion is the one that matters most, and once it has rendered a verdict it can almost never be reversed. Countless people have had lives destroyed by thus mob mentality, and any notion of "innocent until proven...

    Unfortunately this is exactly the world we live in now. The Court of Public Opinion is the one that matters most, and once it has rendered a verdict it can almost never be reversed. Countless people have had lives destroyed by thus mob mentality, and any notion of "innocent until proven guilty" has gone completely out the window.

    I mean really if you think about it, why should anyone ever need a defense attorney? Either their guilt can be proven, or it can't. There in theory should be no need to even mount a defense because you are already innocent of any and all charges, right?

    Crowds are dangerous, and it's a big part of why I prefer to keep my head down and just quietly do my thing. Oh and not participate in social media... that's a key component for sure.

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  • Are Cryptocurrencies Doomed?

    Jeff, between your Constant yet inconsistent Use Of Sentence Case, and your rampant ravings seemingly without basis, I just can't take you seriously. If you have something constructive to contribute, backed up by research and data rather than emotion and pure conjecture, I would truly love to...

    Jeff, between your Constant yet inconsistent Use Of Sentence Case, and your rampant ravings seemingly without basis, I just can't take you seriously. If you have something constructive to contribute, backed up by research and data rather than emotion and pure conjecture, I would truly love to hear it. Otherwise, I find you to be adding only noise to the discussion rather than signal.

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  • Are Cryptocurrencies Doomed?

    Not to mention that everyone seems to be conveniently ignoring the fact that the market overall had regained more than half the "losses" within 2 days.

    In another 5 or 10 years, theres's going to be as many (if not more) people recounting their stories of how they could've invested in crypto...

    Not to mention that everyone seems to be conveniently ignoring the fact that the market overall had regained more than half the "losses" within 2 days.

    In another 5 or 10 years, theres's going to be as many (if not more) people recounting their stories of how they could've invested in crypto back when it was under a $1 Trillion market cap, as there are people who now can regale you with their stories about how they could've been in on the ground floor of Apple, eBay, Amazon, etc. etc. (and I'm one of those people who has those stories! I'll be damned if I'm going to miss lightning striking a second time!)

    It's my theory that most people would rather have a story of near-success and ultimate failure, than a story of actual success. Actual success does not garner sympathy, but near-success followed by failure, gets both the admiration of the near-success, AND the sympathy of the failure.

    Human beings and their silly psychology... LOL

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  • FYI, Parrots (and most tropical birds) tend to love fruit. You might have much better success laying some fruit slices out in a dish, than with seeds (unless you know you've got seed-eating birds you intend to attract!)

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  • Don't feel bad, that book may be interesting and entertaining but you might not want to put a whole lot of stock in all of it... Here's a good place to start:

    https://en.wikipedia.org/wiki/Extraordinary_Popular_Delusions_and_the_Madness_of_Crowds

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  • I'm with you Michael - Bitcoin has no actual business model. Right now it's just got a massive first mover advantage, and the insanely fast rising "value" is of course sexy as all-get-out to speculators. But ultimately I'm not sure I see Bitcoin turning into anything the world will really want...

    I'm with you Michael - Bitcoin has no actual business model. Right now it's just got a massive first mover advantage, and the insanely fast rising "value" is of course sexy as all-get-out to speculators. But ultimately I'm not sure I see Bitcoin turning into anything the world will really want to use. And "store of value"?? PUH-LEEEZE. Stores of value are supposed to be stable. Bitcoin is anything but. Could that change? Yep, sure could. But my money isn't on it happening.

    Now as you've pointed out, ETH and XRP (Ripple) on the other hand... I think those are the places to be. Maybe Litecoin as well since from my experience it transacts way faster and more cheaply than Bitcoin. Of course that could just be because nobody's using it yet so the network isn't clogged up. Time will tell.

    Anyway, like you I have no doubts at all that crypto/blockchain is here to stay. I've made my "bets" and am quite content to ride them out for a good number of years as personally, this reminds me way too much of the early to mid 90s and the internet boom that happened all around me but that I didn't participate in. Coulda Shoulda. Not missing the party this time around, but for me I don't see myself hanging out at the punch bowl with Bitcoin!

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