BTC might help or it might blow them up. They can't have 'diamond hands' because they have to continue making fiat payments as they go.

Best case scenario BTC over their time horizon is a +EV bet (but not a sure thing, even if you think long run BTC is a sure thing)

But pension funds aren't hedge funds. They're not supposed to make +EV bets that could fail to pay off (unless they make a lot of small ones which are uncorrelated). In financial engineering terms, BTC functions as a liquidity sink, which makes it highly correlated with other assets.

Thus it is highly irresponsible for a fiat pension fund to invest in Bitcoin.

As I said, I am an unbeliever so I think it is a strongly negative EV bet. But even if I'm wrong about that it's not the sort of thing they should be invested in.

They have fiat liabilities, not real liabilities

Drake approving meme: Freedom of Speech

Drake disapproving meme: Freedom of Speech

⚡500

I'm an unbeliever so I may be biased

But the volatility of BTC could screw them royally

It's insane to speculate with pension funds like this

Thankfully it's fake

Pasteur was only able to cause rabies symptoms by injecting mashed-up brain bits directly into the brain of animals (not by use of saliva)

I think part of the problem here is that he's accepted a fixed level of challenge - beat the game - and surpassed that challenge.

If you react by setting a higher level of challenge for yourself (higher difficulty, Speedrun, limited items/upgrades, etc) you can "compensate" for your increased skill

Games are toys, not movies. It's up to you how you play with it

"eventually"

I think we are in the last decade of the American Empire

I think the Anal Empire is very close to collapse

Nobody believes in it anymore

be sure to get plenty of water, sunlight, and red meat <3

I for one am hoping for dis-Union and for some of the States to embrace common law & liberty

I don't think the Chinese are really commies anymore

I think they're stuck with a degree of Marxism as the ideological foundation of the ruling Party

But basically they are a Confucian empire with no emperor (which is just fine, the empire was always the bureaucracy)

possible r vs k selection

if you're not familiar

the idea is that evolution (possibly also a single individual reacting to their environment) can be in a state of relative feast or relative famine

think rabbits who breed like crazy but don't care if their brother gets eaten

vs wolves who are much more selective but invest much more in each individual and have much higher cohesion

women who are sexually abused during puberty tend to be much more promiscuous and bear many more children - which makes sense if the environment is unstable, reproductive opportunities are uncertain and children maturing to adulthood is uncertain

in a state of stable resource scarcity (eg the long decline of the American empire) reproduction rates are suppressed and parental investment is maximized (see helicopter parents)

I would expect the reproductive picture to change as both chaos and fortune promote r-selection (high fecundity, lower investment per child), which mirrors actual demographics in which the very poor and very rich are both reproducing at or above replacement rates but the affluent middle class is not

https://en.wikipedia.org/wiki/R/K_selection_theory

"Police already have technology to stop cars remotely using radio and electromagnetic waves"

"The collapse would just be too big and too damaging"

Meaning: a bunch of people who are paid to do nothing (or paid to do meaningless government paper-shuffling jobs) would have to go out and get real jobs providing value for others in order to fill their bellies

What is damaging about this?

What's the point of a career, if not this?

hot!

I think the libertarian case for Trump in 2016 was very simple: he was less of a war hawk than Hillary

In 2020 it was much murkier.

Trump was a mixed bag on liberty, probably overall negative (like all recent POTUS).

I'm not aware of any libertarian silver lining at all on Biden. Maybe he would be lighter on pot or something (supposedly pot is now being re-scheduled to be less seriously prohibited). I guess that counts, but we had a bunch of states with legal pot under Trump, so how much difference does it actually make?

As to the Department of "Justice" in particular I am skeptical how much power Trump really had. I think the bureaucrats mostly contained, routed around or flatly ignored Trump & his officials.

https://nostrcheck.me/media/f5b55f6b44b8997b2b6e8469a6a57f8d3f3b2ef27023543445c40ecec485ee64/4dfa89936433d21f61b2d987958b39fa2f56a357a3657320cebfc56daca3564b.webp

Is this a 9/11 reference?