Taking the day off so I thought I would write an update.
Some music:
I bought a few (4@around $460) Bitcoins today. In short my thinking is this:
- Both the ideas of paper money and of the internet were laughed at when they were first conceived, so all the criticisms look less damning when keeping that in mind.
- Credit cards were not invented to be used on the internet. About half of all credit card processing fees go towards fighting fraud. Amazon had a revenue of around 25 billion in the first quarter; get rid of a 2% fee and because their margins are razor thin, they double their profits (and consumer prices drop!).
- Remittance payments (a huge business) usually costs somewhere between 5-10%, where BTC would run around 1%
- Diversification
...I just realized I could go on and on, but there are some concerns as well. Overall I like the investment, but I'm really unsure.
Poker went "ok" this first 1/4 of the year. My game went stale the last few weeks, which I am disappointed for letting happen....again. Compared to last year it was really good, but compared to where I would like it to be it is still pretty disappointing.
Other than that life is good. I am surrounded by good people, do something that I somewhat enjoy, learning new shit, all in a beautiful place. Speaking of places....I only have one more week here in Playa. Headed home for a week!, then off to Europe (IDK where specifically. Flying into London then.....) for a while.
Thanks for reading
Take care,
Ted
