I don't think it was that? Pretty sure he said it was an investment in an energy company that was connected to bitcoin mining I think, which he trusted too much. He was on Nat Brunell's pod recently talking about it and being diagnosed bipolar, which I kind of suspected when he previously spoke about his depression, but also goes on these massive rants and appears jacked. Common for bipolar people. If I had bipolar I'd try and steer clear of investing as much as possible and just stack sats. Easier said than done though. He's just a guy trying to make it in the world like all of us.
Nothing against him as a person just doesn't seem wise for people to follow his ideas
People could do much worse 😄
While I agree with your analysis I don’t see him espousing anything significantly deviating from
standard bitcoiner talking points.
Which ideas do you find problematic?
Talking about Bitcoin as insurance instead as money. It's just flat out incorrect. You don't save and spend or self custody insurance policies
Everyone has their own way of understanding and explaining bitcoin. E.g. "insurance", but it's not meant literally.
The dude had a pretty large bitcoin stack and invested it into a “peaker plant” power company whose stated intention was to sell power to bitcoin miners (hut8). Peaker plants only turn on when power supplies are insufficient for demand. Bitcoin miners intentionally sell their allotment of power back to the grid during times of peak demand, as the power they’re allotted is more valuable at that moment than the bitcoin they could mine(ie- they can just sell the power and buy bitcoin)
The dude is kinda straight dumb. He calls bitcoin insurance, but used his bitcoin as capital for an investment in something that made no sense, and lost his shirt.
Oh shit, he really lost it all/most of/a lot of his bitcoin?!
I thought he was a real one. And at such an age, I would think he wasn't gonna take risks, and he fucking knew the "asymmetric upside" geez!
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