Ray Dalio On Bitcoin, Hard Money Martyr

Ray Dalio On Bitcoin, Hard Money Martyr

Admittedly, I'm a bit tired of Ray Dalio. I imagine quite a few folks feel the same way. Ray is, by a few measures anyway, the most successful hedge fund manager in history. Certainly, he's set himself apart. He's not identified with the unseemly behavior of his ilk nor does he fit most of the stereotypes associated with his industry. But at some point, he decided being enormously successful and well-regarded in a business where it's almost impossible to be both simultaneously, wasn't enough.
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11 thoughts on “Ray Dalio On Bitcoin, Hard Money Martyr

  1. A Swedish central banker summed it better than I ever could. He said, and I am paraphrasing, Crypto is private money and private money eventually becomes worthless. Blockchain technology probably has value- but coins- I will let others play that game.

    1. Great point about private money! That reminds me of history around 1820, when more than 420 banks in the U.S. printed their own bank notes. The country was flooded by private, non centralized money — which provides a great blueprint for crypto chaos.

      Planet crypto is super cool, but their currency isn’t much different than a peso, because it requires dollars in order to breath … and be exchangeable, tradable and fungible (like a peso).

      I agree that blockchain has some value, but only if it’s adopted on a massive scale, then fully supported, updated and managed as a standardized long term ubiquitous process, versus a private joke between a few thousand people.

  2. Ray has turned into the Joe Rogan of boomer finance. Can’t blame him, though. I mean, just look at Michael Burry’s constant meltdowns. Success brings authority, and authority brings sycophants, and sycophants bring psychosis.

    Speaking of psychosis, when are we gonna get your take on Solana? Your buddy IdentityElement went deep.

  3. I have to admit, I am one of the dimwits that has a copy of Principles sitting on my bookshelf, but I am scared to open it up and read it. But as long as I can keep it visible on my shelf and pretend that I have, it’s fine, right?

  4. What China has been doing to Bitcoin, and why, suggests what other governments may be wanting to do, and why. Of course the Chinese leadership can take unilateral actions while other governments have to navigate various processes and interest groups. But it is somewhat clear, in my opinion, that some major power centers in the US govt want to, if not eliminate, then control, regulate, and tax Bitcoin into a narrow lane and/or eventually supplant it with FedCoin.

  5. It is not in any central bank’s self interest to root for Bitcoin particularly if that Bank issues the world’s reserve currency. There is nothing to be gained and a whole lot to lose from Bitcoins emergence, at least from an American perspective.

    To echo sentiments mentioned above, there may be value in blockchain technology that is untapped but BTC and other cryptos are picking fights with some very formidable opponents.

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