retrospective

Also, when I play poker now I generally stream it. I'll post the link to my twitch the next time I play.

Lol we were all kids 15-20 years ago. Dont feel bad. But good that you grew up

Long term i would advise most here to forget about poker.

I am certainly no financial advisor but I would HODL value with that "extra" fiat but I am sure you already know this. Matching 401k plans, crypto, housing, art, invest in some area that is valuable for you. It's not great to be results oriented but if I would have done this in 2012 I would have an extra free $8,000 in my 401k that would have grown substantially. I bought a lamp for $3,000, a bike for $3,500 and would stay at the W Hotel and shit like that when I could have easily crashed at a friends' place. That's like $7,000 in three purchases (when I was making $70,000/yr + benefits). Imagine if I would have put $7,000 into BTC in 2013?

Oh well, I am pretty sure you know all of this already. It is good to hear that you are doing well at least financially. If that money is really just sitting there maybe consider getting involved with helping others. It may inspire good things. Also, time is more valuable than money.

Get a remote job and travel.

Yeah I agree with RikD except I think cryptocurrencies are worthless BS so please don't buy that

The things you describe about yourself (no material desires, already own some big assets, steady job, money evaporating in bank) just make it pay off even more for you to buy more assets.

And you're a poker player who knows what real variance is so you get the added comedy effect of nits talking about the "apocalypse" and going on life tilt when they get their 30% downswing once every 7 years or whatever

On July 01 2021 02:54 Jelle wrote: Yeah I agree with RikD except I think cryptocurrencies are worthless BS so please don't buy that The things you describe about yourself (no material desires, already own some big assets, steady job, money evaporating in bank) just make it pay off even more for you to buy more assets. And you're a poker player who knows what real variance is so you get the added comedy effect of nits talking about the "apocalypse" and going on life tilt when they get their 30% downswing once every 7 years or whatever

The "apocalypse" is real, it's basic logic: you can't have a worldwide system organized around constant accumulation and growth when there are planetary boundaries that must be respected in order to maintain biological existence. It's not about the stock market. The very real apocalypse is just being off-loaded on your children and their children while you (I'm assuming) sleep easily at night like most people assuming that things are going to get better or at least not get much worse than they currently are. People are sleepwalking through life, usually dismissing these concerns with some magical thinking. Being a poker player doesn't shield you or your family against any of this.

That said, the stock market crashing every 7-11 years or whatever doesn't just affect people with enough extra money to have invested in it. It affects the whole of society. People lose their homes and their livelihoods, and they have no chance to build back up after a certain age and state of health or when the jobs are gone (especially those with half-way decent benefits). Also look at what the banks did in 2009. Taxpayers bailed them out (against their will) after the 2008 meltdown so they could cover their financial obligations, but then they refused to lend to small businesses and individual borrowers because they were not confident in the money supply. "It's called the American dream because you have to be asleep to believe it" indeed.

Those crashes are like chronic convulsions and at some point it becomes a stroke you don't recover from. Look at history and how empires that seemed invincible were all decimated. Now we have a global system - a global empire if you will - that is absolutely on the road of collapsing:

"What can this tell us about the future of global modern civilisation? Are the lessons of agrarian empires applicable to our post-18th Century period of industrial capitalism?

I would argue that they are. Societies of the past and present are just complex systems composed of people and technology. The theory of “normal accidents” suggests that complex technological systems regularly give way to failure. So collapse may be a normal phenomenon for civilisations, regardless of their size and stage.

We may be more technologically advanced now. But this gives little ground to believe that we are immune to the threats that undid our ancestors. Our newfound technological abilities even bring new, unprecedented challenges to the mix.

And while our scale may now be global, collapse appears to happen to both sprawling empires and fledgling kingdoms alike. There is no reason to believe that greater size is armour against societal dissolution. Our tightly-coupled, globalised economic system is, if anything, more likely to make crisis spread." - https://www.bbc.com/future/article/20...-on-the-road-to-civilisation-collapse

Anyway, I can relate to Crown's lack of ambition. For me, I don't look at it as an individual issue but a sociological one. It's largely because we live in an age of disillusion and meaninglessness where old structures of meaning have lost their appeal. For the postmodern subject there is nothing real to pursue or believe in, ambitiously. The cultural myth we now buy into is money and its associated status, and if that doesn't do the trick for us, it's hard to be ambitious. If it's not that it tends to be some form of activism or science, but they lag so much behind social and moral progress and as such require so much faith out of us that they make it a much harder path than the one of accumulating material things and "a diversity of experiences" like that of the average consumer or capitalist. It's no surprise that there is such a growing interest in "simple" or "slow" living these days. Anyway, that's the real joy in life for me too - learning. Learning for learning's sake. It's great because it's joy that can never be taken away from you.

Start a family and/or begin a spiritual life =)

You guys don't get it. I'm not a part of the game. I don't care about their game. I don't invest, I trade because it's competitive and I like to play zero sum games.

If time is money then it's really fucking expensive to be rich, that's so much time for a hustle I just genuinely don't care for.

I told people all of last year who have the hustle still to take loans against any asset they owned on as long of a timescale as possible, 2% interest on a 30 year loan when the us dollar is depreciating 40% in value or whatever the number was in a single year is the easiest form of arbitrage of all time. It's a clear no brainer. The only way you make money when against that type of inflation is to short the dollar by taking on debt.

The simple fact that taking debt and being in a constant state of debt is the only way to win the game is the exact reason the house of cards will fall down.

It seems logical that to be in a state of no debt would be ideal, but instead we reallocate the wealth even further from the people who cannot abuse this system to the people who can.

I hate the entire system, and I think I came across as slightly socialist in this post but that couldn't be further from the truth. I just think you should let free markets be free and let the companies who abuse these systems gambling fail when they fail. If there is no punishment for taking on debt and losing your gamble these guys will continue to do it and continue to reallocate the wealth from the poor to the rich. At some point this bubble has to burst.

On July 01 2021 03:41 Loco wrote: Show nested quote + On July 01 2021 02:54 Jelle wrote: Yeah I agree with RikD except I think cryptocurrencies are worthless BS so please don't buy that The things you describe about yourself (no material desires, already own some big assets, steady job, money evaporating in bank) just make it pay off even more for you to buy more assets. And you're a poker player who knows what real variance is so you get the added comedy effect of nits talking about the "apocalypse" and going on life tilt when they get their 30% downswing once every 7 years or whatever The "apocalypse" is real, it's basic logic: you can't have a worldwide system organized around constant accumulation and growth when there are planetary boundaries that must be respected in order to maintain biological existence. It's not about the stock market. The very real apocalypse is just being off-loaded on your children and their children while you (I'm assuming) sleep easily at night like most people assuming that things are going to get better or at least not get much worse than they currently are. People are sleepwalking through life, usually dismissing these concerns with some magical thinking. Being a poker player doesn't shield you or your family against any of this.

Are you trying to imply that the world will end from climate change or some other thing in 100 years? If so I strongly disagree, humans are incredibly resilient, especially when faced with the option of death. Yes, climate change (sorry for using this singular example, I'm sure you have more things implied here) is a real problem if humans stop thinking for 100 years but that isn't how this will go down and we both know it. It's really as simple in the short term as the government giving incentive for technology to curb the issue. Lets say the absolute worst case plays out and no one manages the situation until its much more dire, I still place all of my bets on humanity to resolve the issue easily. I'm not a scientist and I can think of plausible ways to fix the issue myself. Something as simple as removing carbon from the atmosphere (this probably takes a really really long time and isn't viable with current tech) to building a factory on the moon that builds curtains to orbit the earth and block inbound infrared light. We have almost no use it on earth, all it does is increase our temps.

As a sidenote I think its hilarious that people think we can just go to mars or something if we can't save earth. If we can't control our own planets dynamics how in the fuck are we going to control a planet in much worse shape than our own. Mars is a literal shithole, I have no idea why that is the place we have decided to try to colonize first, even an asteroid would be a better home.

Agreed with bigrob, start a family, get a kid or two that'll keep you busy af

On July 01 2021 05:22 Big_Rob_isback wrote: Start a family and/or begin a spiritual life =)

Spiritual life first, the god of the multiverse first

Multiverses are cool to think about, I was recently really into penrose and his work. His diagrams explain that:

If you use general relativity to describe a rotating black hole it doesn't have a singularity like you might expect.

Since you are spinning as you move towards the singularity there is actually a point as the space becomes more narrow and you rotate faster where you slow down slower than the speed of light. This creates a second event horizon within the original event horizon. This is interesting enough within itself to me, would the physics inside of this place be the same as outside of the initial event horizon in our universe? We crossed a point where light can no longer escape but there is light travelling freely around us and we can again travel through space rather than time.

Anyway, once you enter this second event horizon you will see a singularity that is not a point but a rotating ring. Because of some advanced math that I can neither explain eloquently in words nor fully comprehend. This ring is rotating so quickly that so long as you don't approach it from its equators you will be repulsed out the other side through a white hole to a new universe. White holes don't exist except at the beginning of time, so if you turned around to look at it you would only see a black hole in the future.

Math fully supports the multiverse, I don't think any humans will be surviving the trip I just described however.

Loco are you a fan of Richard Wolff or something?

-> "I'm not part of this game." Actually you are part of the game whether you like it or not. You're already at the table and dealt in. If you decide to fold every hand out of protest people will just happily steal your blinds & antes. If you end up badly needing money at some point in your life (for medical bills or whatever) you may regret this protest

-> "You are overly dismissive of potential and/or guaranteed upcoming apocalyptic events". OK, I disagree but fine if you believe that, but you still need to allocate your wealth somewhere in the remaining time before the apocalypse.

love you too bro. HMU if you want a poker sweat

^just placed 2nd in Wynn classic

Mez,

This is something I have wondered for a while now...

Is Mezmerize a System of a Down reference?

Yup, was one of my favorite albums at that point in time when I made the name

Nice. I grew up on Toxicity (album). I had just gotten my license and a hand me down '95 Dodge Caravan and finally had some autonomy over what music I played in the car. The legendary local radio station loved that album specifically Chop Suey! I downloaded the album from Limewire and was pleased. The radio never played Deer Dance or others. Then, I pretty much lost track until a friend's wardrobe was exclusively SOAD t-shirts and shorts or jeans. Violent Pornography is currently my favorite SOAD song and Mezmerize is a strong album in its own right. I remember one time I was so amped up listening to B.Y.O.B that I was driving through a rich suburb and golf course with a lot of people out and about and was going to start yelling at them "Where the fuck are you!" "Why do they always send the poor! (x11)" I don't mind being that crazy person yelling random strings of words (to them) and I think it is important for the sheep to be jarred away from their pleasant existence at times. What better way to have an effect than at the juxtaposition of a pleasant walk in perfect weather and a drive by shouting?