The Ungoverned

Thoughts on man and his universe
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  • David Veksler

“Stimulus” Packages: Cure or Disease? Apr 27, 2020

Massive government-enforced lockdowns and their cascading economic effects have put tens of millions of people out of work. Through no fault of their own, many have been reduced to dire straits and are now scrambling to find ways to support themselves. Politicians—attempting to help those whom they’ve kept from working and resuscitate markets that their lockdowns have extinguished—have united around the notion that governments must provide “stimulus.” In the United States, the Coronavirus Aid, Relief, and Economic Security Act (CARES)—which passed unanimously in the Senate and by an overwhelming majority in the House—is a $2.2 trillion stimulus package for families,...

By David Veksler Vote3 1

How to safely store Bitcoin and other cryptocurrencies Oct 2, 2019

I've seen people lose their Bitcoin in every way imaginable, and I want to help you avoid the most common mistakes. Are you thinking long-term? Will your storage medium last 10 years? Will your family be able to access it in the event of your death? Have you considered that the same events that will cause Bitcoin to go up in value may cause you to lose control of it? What is the best way to store Bitcoin? In 2019, a hardware wallet is unquestionably the best way to store Bitcoin. There are three good options: Trezor, Ledger, and KeepKey. I prefer...

By David Veksler Vote3 1

Why you should embrace the abundance mentality Sep 23, 2019

Why are some people successful — financially, socially, and romantically, while others stagnate and never amount to anything? The Abundance Mindset Successful people share many traits, but I think one key attribute is the abundance mindset. The abundance mindset sees the universe as full of opportunity — for friendship, love, and financial success. By contrast, the scarcity mindset sees everything as a fixed pie and leads to hoarding, envy, and stagnation in every aspect of life. Think of the friend who forms a circle around them a party in any city, the successful serial entrepreneur, the man or woman who...

By David Veksler Vote5 0

The myth of the goldfish-sized attention span Jul 19, 2019

The idea that attention span is shortening, particularly among younger generations is a myth, and the claims are not backed by any evidence. The idea of an "average attention span" is a myth, as there is no such thing. Attention span is very much context-dependent. Even within particular contexts, such as driving or listening to a lecture, there is zero evidence of a change among the public or between generations. By the way, there is also zero evidence that goldfish have a short attention span. The "eight-second attention span of a goldfish" is completely fabricated. Goldfish memory IS extensively studied, simply...

By David Veksler Vote3 0

Don’t blame markets for obesity Jul 19, 2019

For nearly the entirety of human history, the chief concern of most people has been getting enough to eat. The invention of capitalism finally enabled the majority of people in market-based societies to focus on higher pursuits. Yet capitalism is now widely blamed for causing obesity - because of the availability of fast food, "food deserts", or simply because markets incentivize products to make food as delicious and cheap as possible. Whether or not you are a fan of free markets, it is personally important for you to understand why this idea is wrong: The ultimate cause of obesity is...

By David Veksler Vote2 1

Facebook Libra’s cold reception from Congress validates the need for Bitcoin Jul 17, 2019

The hostile receptions Facebook's Libra coin received should be viewed as a validation of the need for Bitcoin. As a fiat currency pegged stablecoin, Libra offers little threat to the U.S. dollar's monopoly. To Libra users, it would be little different from PayPal, Alipay, Apple Pay, Google Pay, WeChat, Zelle, or the dozens of other peer to peer payment platforms around the world. Yet Libra threw the powers that be in such a panic that President Trump was pressured into tweeting a condemnation of Libra and a Congressional hearing was swiftly organized. Rep Brad Sherman compared Libra to the 9/11 attacks, which...

By David Veksler Vote2 0
The Intelligent Investor

Why I stopped managing my own money Jul 12, 2019

Every month, I send my robo-advisor a big check to manage my money. It’s my second largest expense, and I know I could do just as good of a job myself -- because for six years, I did. In the midst of the financial crisis in early 2009, I fired my broker and started trading stocks myself. First, though, I did my research - I read Benjamin Graham's classic "The Intelligent Investor, Peter Schiff's "Crash Proof", and many, many, blogs. I did OK - I was up 58% my first year. After that, some years I beat the market, others...

By David Veksler Vote2 0

Don’t dismiss Bitcoin just because of its wild price swings Jul 6, 2019

There are valid reasons to criticize Bitcoin, but price volatility is not one of them.  Why does the price of Bitcoin change so much from day to day? The answer is simple: the value of Bitcoin derives almost entirely from speculation on future adoption of Bitcoin rather than practical use. Bitcoin speculators are betting on the likelihood that Bitcoin will become offers a credible alternative to fiat paper money or commodities like gold. No one knows the future, so many individual market participants speculate about the future using the information available to them. They will naturally disagree and change their opinions over...

By David Veksler Vote4 1

Why I try to ignore the news cycle and focus on my own success first Jul 2, 2019

The idea that the public should be well-informed about local, regional, national, and global events is misguided and harmful. It stems from the fact that in a democracy, every citizen can theoretically influence events on a global scale through the vote. The implication of this is that every citizen is ethically obligated to stay informed on the issues in order to make informed votes. However, this standard is both impossible and harmful. The vast majority of people are busy with their personal lives and must already consume and process a huge amount of information to stay competitive in the modern...

By David Veksler Vote2 0

5 Things You Need from Your Job to Advance Your Career Jul 2, 2019

Your job won't always be your dream job. Sometimes you'll take on projects you don't like, work with people whose company you don't enjoy, or get paid less than you think you're worth. Sometimes, your focus will be on getting by until you find your next gig or get promoted. However, no matter what you do, there is almost always more to gain from your work than a paycheck. Many employees think of their salary as the sole value they derive from their job. Career growth requires a deliberate focus on personal growth to prepare yourself for the next rung...

By David Veksler Vote5 0

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