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Economics / Re: How Blockchain Will Rule Your World --- When Lambo?
« Last post by Eddie on Today at 06:27:55 PM »
One thing about the blockchain is that it truly is transparent. So if you want to see who owns Bitcoin, and how much, you can look. Same with any other crypto.

You don't get names, just addresses, the crypto kind, lots of letters and numbers. But when big parcels of Bitcoin leave some huge wallet and go to an exchange wallet, it's a good bet some big player (in crypto they're known as whales) is about to sell. People watch that stuff. In a tiny market like crypto, whales move markets.

And you can get some idea about who owns what, sometimes, by comparing various anonymous wallets to amounts of coin that have been granted to company officers. The main founder get the most. The other co-founders get a lot. The new CEO gets a lot. etc. As you go down the list of company officers each one gets a little less.

I'm just trying to learn where to look to figure this stuff out. Sometimes you find out things that make you go hmm.

Remember how I said that Wanchain was founded by the former Chief Technology Officer at the biggest local blockchain start-up (Factom). Guy name of Jack Lu. Chinese American guy who went to Ohio State, but got his PhD in China.

I read a very interesting interview transcript Wanchain posted. This was an interview he gave in Beijing to a Chinese interviewer, so it was in Chinese and it isn't a video, just a written transcript.....so not many Americans have seen it. One thing that I realized is that he CHOSE to do the Wanchain ICO at the height of last year's bubble, so they could raise a shit ton of money. He picked the very top.

At that time, anybody with a white paper and a briefcase could launch an ICO, and the dumb money was buying with both fists. Now many of them are DOA. They call them shitcoins, tokens sold to raise money for some stupid idea that was never going to get off the ground, and hasn't gotten off the ground.

But Wachain wasn't one of those. This guy Lu, he has HUGE ambitions He plans for Wanchain to be the blockchain that allows money and data to move from one chain to another, something that is a problem. Chains don't talk to each other. Solving this problem, according to him, is what is going to make blockchain bigger than the internet...what will in fact change the internet forever into a new kind of net, one where contracts and money move around as easy as fake news does on Facebook now.

He has already figured out how Ethereum and Bitcoin can be bridged...a huge breakthrough. It's in the news right now.

So anyway. Do you remember what I said about how analysts put too much emphasis on market cap..how they tend to look at cryptos through the same lens they use to put value on stocks? This is a thing, in my opinion...and it's a thing that is not going to change right away. Maybe someday.

But right now the market tends to overvalue coins with a small circulating supply. It's like a low float stock. People know that in a bull run, there won't be enough shares for everyone who wants to buy, and prices will spike. In a nutshell, that is the story of Bitcoin. Bitcoin can moon because the total supply is tiny...21 million.

So Wanchain has a total supply (meaning no more will ever be mined) of 210 Million, which is not huge for a crypto company with the potential to be one of the biggest someday. It's really quite a small supply compared to many others. And only half of that is circulating.

And five wallets contain 60% of the total supply. The top 100 holders have over 150M WAN out of the 210M total.

To me, this means that Wanchain, which had an all-time high last January of just under $10 (and now has fallen to 35 cents, up a little today) very well could be one of those coins that does moon in a bull market.

I'm not saying it will. I'm just saying I see how it potentially could happen.

I don't think Lu is the kind of guy to take the money and run. He has a big, bold plan, which will take at least a few years to execute, and I think a lot of the Wan coin is going to be closely held for a long time.






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OK Beef Lovers, I had a real good day at 3 Bears meat racks today.  I scored FIVE gorgeous PRIME NY Strip Steaks for the bargain price of $9.59/lb.  :icon_sunny:

click to enlarge
Steak Strip Prime
Steak Strip Prime

Each Steak weighing in at around 1/2 lb of Cow Flesh, a perfect size for me to make a Steak Sandwich from.

Now, compare these to 2 Australian Wagyu Strips available to order on the net.


OK, these 2 OZ grown Steaks are SLIGHTLY better marbled, but you know how much they COST?  $135 just for 2 12 oz Steaks!  That's only 1.5 lbs compared to the ~2.5 lbs I got for $26.46!

You gotta be a Rich Fuck with $Money to Burn$ 🤑 to spend money on these online Gourmet Steaks.

Money Burning 1 sm
Money Burning 1 sm

RE

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Doomsteading / Re: C5 Walks into a Diner...
« Last post by Eddie on Today at 05:35:02 PM »
Chris Hedges is worth 19 million dollars. Yeah....really.




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Doomsteading / Re: C5 Walks into a Diner...
« Last post by Surly1 on Today at 05:23:39 PM »
So take a deep breath. Not that Eddie needs a lawyer.

He doesn't need a lawyer, and if he were tried under the current set of laws he would be found innocent.  I just try to point out the criminal nature of such things, which many others have done before me.  Probably Al Capone said it best though.



RE

So did Smedley Butler, using other words. So has John Perkins, Chris Hedges, and plenty of other observers with whom we'd likely all agree.
Empire corrupts.
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Doomsteading / Re: C5 Walks into a Diner...
« Last post by RE on Today at 04:55:35 PM »
So take a deep breath. Not that Eddie needs a lawyer.

He doesn't need a lawyer, and if he were tried under the current set of laws he would be found innocent.  I just try to point out the criminal nature of such things, which many others have done before me.  Probably Al Capone said it best though.


RE
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The Diner Pantry / 🐔 How to Spatchcock a Chicken
« Last post by RE on Today at 04:48:32 PM »
<a href="http://www.youtube.com/v/bbqZJZOUM6I" target="_blank" class="new_win">http://www.youtube.com/v/bbqZJZOUM6I</a>
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Doomsteading / Re: C5 Walks into a Diner...
« Last post by Surly1 on Today at 04:42:56 PM »
I don't rip people off. I take care of other people.

 That line of bullshit is something you and your vivid imagination came up with to make you feel good about trashing me. I'm sure you can sell that crap to AG and few other self-righteous assholes, but anybody who knows me.....really knows better. You know better. Give it a fuckin' rest.

Eddie, you are a good guy.  That is why we are friends.

That doesn't obviate the fact you work inside a criminal racket, a GSE (Goobermint Sponsored Enterprise) protected by Da Goobermint to keep the prices high.  It's a big Conduit Scheme.  Easily visible if you go down to Mexico to have your teeth worked on for 10 Cents on the Dollar.

RE

Ah, fuck...

When Ashvin tried to wear my ass out about why I don't change my life, and do any number of quixotic things to immiserate myself and my family to no visible effect, part of the answer has always been that it's like spitting into the ocean. But ideologues don't care about details.

We all come of age in a society with a given set of rules, and we try to make some sort of living within those rules as best we can. You did it, I've done it and so has our dentist friend. It puts my teeth on edge when you wear his ass out like this. Eddie has done more to prepare for a post-collapse future than most zip codes full of people. He's full of hard-won knowledge, collected the hard way, for which he has often paid retail, plus plus.

I'm a wannabe bolshevik bit I begrudge the man nothing. Her had done more for others in a direct way, alleviated more pain and touched more lives than most of us totaled up together. Feel free to give that "conduit scheme" a rest. If he were part of some wealth-funneling group of thieves it would be one thing. But from all accounts he's kicking' it old skool.

So take a deep breath. Not that Eddie needs a lawyer.
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Doomsteading / Re: C5 Walks into a Diner...
« Last post by RE on Today at 03:19:20 PM »
I don't rip people off. I take care of other people.

 That line of bullshit is something you and your vivid imagination came up with to make you feel good about trashing me. I'm sure you can sell that crap to AG and few other self-righteous assholes, but anybody who knows me.....really knows better. You know better. Give it a fuckin' rest.

Eddie, you are a good guy.  That is why we are friends.

That doesn't obviate the fact you work inside a criminal racket, a GSE (Goobermint Sponsored Enterprise) protected by Da Goobermint to keep the prices high.  It's a big Conduit Scheme.  Easily visible if you go down to Mexico to have your teeth worked on for 10 Cents on the Dollar.

RE
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Geological & Cosmological Events / Re: Mud Flood
« Last post by azozeo on Today at 03:16:45 PM »
<a href="http://www.youtube.com/v/NerlK5PtiNM&fs=1" target="_blank" class="new_win">http://www.youtube.com/v/NerlK5PtiNM&fs=1</a>
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The Diner Pantry / 🐔 Doomstead Diner Dinner Special: 12/18/2018
« Last post by RE on Today at 03:13:43 PM »
Moe good Amerikan Comfort Food for Dinner tonight, Roast Chicken.  Spatchcocked which most Amerikans don't do, but is a fabulous technique for roasting any bird, and small mammals like rabbits and squirrels too!  Put the method in your recipe card file for SHTF Day cooking.   :icon_sunny:

We enjoyed the relaxation in the digs so much today we're going to do it again tomorrow and do our own cooking, no restaurant food tomorrow either.  Save some of Soros' money tomorrow!  Julia and I are still tossing around recipe ideas, but since it is Pasta Wednesday tomorrow on the Italian North End of Cassandra II, we'll come up with something.

RE

Today's Dinner Special

Garden Salad

Spatchcocked Garlic Roasted Chicken & Vegetables

Apple Pie with Vanilla Ice Cream & Caramel Sauce
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