Like they say, speculation is as old as the hills. Scott Nicholson I think that the short history of bitcoin teaches us just how challenging prediction can be in these technologies. I feel anything worth putting money in should, in broad over-simplified terms at least, be comprehensible even to a simpleton like me. January 4, 2018, 4:25 pm. What a bargain! Maybe the currencies will be useful to, but the really useful ones will be the ones designed for some purpose. Moneymeister 16-02-2023 WIDM 2023: mijn mening en verdenkingen tot nu toe. Mattheus Yeah, IF YOU SHOUT LIKE THIS IT MAKES YOUR POINT COMPLETELY VALID. !, What is money? Chris Urbaniak One place where coin mining could considered reasonable is during winter in a home that is already heated with electric resistance heaters. I read an interesting article regarding the price fluctuations, but I cant find it now. So, how is Bitcoin better or different? January 2, 2018, 8:53 pm. Even some cryptocurrencies that currently exist. I am already looking forward to looking back and laughing at all the companies who did away with their normal businesses to become mining companies. First: cryptocurrencies have not demonstrated lack of manipulation. Why not somebody else's fingernail clippings? As for spending your Bitcoin, I digress. When contracts cannot be broken nobody needs to oversee contracts. January 2, 2018, 9:13 pm. There are many reasonable prices for these goods that are non-speculative in nature. MMM said Government-issued currencies have value because they represent human trust and cooperation. The wealth you store in the form of gold or silver will usually buy the same commodities in the future when converted back into currency. Reply. Nope I am not a skeptic, and also since I was there then (with pre-internet BBS). You call it trust. Michael If you MUST put way too much money in bitcoins, you need your own offline, hardware wallet. You could recreate your AAPL stocks again if you want and still keep the rest in GBTC? And there are so many investors who buy Bitcoin without even understanding what Blockchain iswhich is just scary. Staying the Course in War-Time. Gold is relatively inert (wont rust except for very tiny amounts of oxydation), it is relatively easy to verify its authenticity (its malleable, the good ol biting the coin to see if it dents, you can melt it to look for impurities as well as hard to fake the colour with lead based forgeries). E.g. For a shortcut to understanding good investing, you can also simply look up Warren Buffets thinking on almost any topic hes careful enough about offering opinions that by the time he makes a statement on something, you can be pretty sure it will be among the best answers out there. The happiness of society is made of the happiness of individuals and nothing else. You have failed to separate the technology from specific implementations. A stock is not a ticker symbol; it is a stake in an underlying business. There valuation of pretty much everything but Bitcoin and Ethereum is unjustifiable. Ten years later and the price is still nowhere near that prior high, with it currently trading around $60. https://www.youtube.com/watch?v=aeMv9uKpAZg, The Wealthy Accountant Still no fundamentals. When the common person does it, it can cause very big problems. Im only a mediocre computer scientist. Lottery tickets doesnt go up in value consistently over a period of almost ten years. to convince them myself. While I was in Kenya, the central bank had capped rates at 14%. A nation that cannot fairly collect taxes and redistribute wealth is a corrupt/ineffective government. So, youre saying that Bitcoin is equivalent to PSINet, one of the first ISPs. Which happened 47 years ago, not 40. Max Thunder You guys are sitting in fools paradise if you think anyone would want US dollars in the years to come. MentalArson Crypto currencies are a must have component of your investments and should constitute not more than 10% of your overall investments, based on your risk appetite. Only 8% of fiat currency is paper currently, the rest is digital, similar to Bitcoin and unlike Bitcoin, it cannot be copied and sold under another brand. As platforms. I really would hope that MMM doesnt sell out like most social influencers but regardless not understanding the technology is no excuse for spreading fear, uncertainty and doubt about it. Keep plenty for yourself. It a high-tech form of protest. It then proceeded to burst in spectacular fashion just ahead of the financial crisis, plunging all the way back to $30 before rebounding. So now that youve got an truly immutable public data store, what do you do with it? Our Banker friend goes on to explain that the first Cancer-Pill might initially see some great sales. Technology is always the game changer. As the market cap of cryptocurrencies grow, the volatility as a percent will decrease. Because An investment is something that has intrinsic value.. This is yet another extreme example. In that forest there are old bricks. Sure.. that is until the government keep printing it until its worthless. When the supply of foolish speculators dries up, the value evaporates often very quickly. Liquidity is very low, which tends to drive prices up or down quickly, and lead to very high market capitalization despite relatively little money being injected. (a Case Study), https://medium.com/p/81f5ffa42deb?source=linkShare-6c666494704c-1516693614, https://www.statista.com/statistics/326707/bitcoin-price-index/, https://globalnews.ca/news/3977745/ethereum-blockchain-canada-nrc/, https://prestonbyrne.com/2017/12/08/bitcoin_ponzi/, https://seekingalpha.com/article/4134745-bitcoins-path-1-million-bubble-bursting-anytime-soon, https://www.youtube.com/watch?v=g-zIbVEjVpQ, https://www.youtube.com/watch?v=aeMv9uKpAZg, https://www.cryptocompare.com/mining/calculator/btc?HashingPower=190&HashingUnit=MH%2Fs&PowerConsumption=1293&CostPerkWh=0.12, https://en.wikipedia.org/wiki/Tulip_mania, http://contrarianedge.com/2017/12/01/bitcoin-millennials-fake-gold/, https://en.wikipedia.org/wiki/National_debt_of_the_United_States. And verify. It is already in Beta testing and will be released this year. Absolutely. They only speculate that others may want them in the future. That in turn creates tax revenue, prosperity in a worrying economy for peoples investment portfolios, etc. I can leave the country with it if the government ever gets out of hand (I cant do that with gold or cash since it will likely be confiscated or banks be frozen). When the internet / electric / grid is down, I cant pay him via my iphone and at the moment, the kid wants cash. Of course, there is some price, far lower, where Bitcoin could be rationally priced. I think your point about time wasted is very accurate. Say I trade you a car for 1 bitcoin on Jan 8. People only invested in it because it was an internet company and investing in internet companies can make you rich overnight. Bitcoin has very little usage. I hope it wasn't, but as he said in the article, it's none of our damn business. You are correct to note that Since the late 1990s when Shiller started promoting the CAPE ratio stocks have regularly been in bubble territory. I could definitely sell these for more later. Bitcoins can be traced, your fingernails cant. What, you think rich people dont argue with strangers on the internet? There are sure going to be a lot of people gnashing their teeth and rending their garments when the bottom falls out of this market. Do we really want a place where youre either an Amazonian or Walmartian? Let me know which one consumes more energy overall? Lady Dividend And this, MMM There are no financial instruments that will protect you from a world where we no longer trust each other. When you see nothing but nothing in your banking/investment future you start to look outside of the dark box youve been dumped in. Because I advocate something, I am not raving Mad! 1. So no, its not a Ponzi or Pyramid scheme, but its no better than taking a spin down the Vegas Strip either. Youre not going to get rich by collecting metals, but you might stay rich with them. You may be smart enough to recognize why one currency is going up and another isnt and to not go all-in on something. So I also read a lot about investment bubbles and fundamentals and how to tell those apart. 3 years and 1 week later. Full faith and what? Value is subjective; not all speculation is irresponsible; gold and other odd stores of value have novelty effects. Simple answer is, they cannot have a secure private Blockchain. The web. How many here have switched from Mortgage Fast Pay to Money Market? Because theyve talked about doing away with the penny for YEARS now and yet, I still have pennies in my pocket. Its well written and pretty obviously by a real software and math person. This is the greatest use of human energy and capital the world has ever seen. It seems like youre advocating for scenario #2. No one foresaw that VHS would win, and yet Betamax was gone not many years later. Thus, they are not useful, and produce nothing useful. Shut up, just send me $100 via PayPal and Ill send you a bag of my fingernail clippings. Pete Adeney, aka Mr Money Mustache "As fluctuations continue over the time and you continue to invest, you get the average price as time goes on," he adds. Why? If FIRE is your goal, Id get out. Kevin S Coleman You are a noble man ! I could only shake my head. You expect a currency that is controlled by individual owners can be reliably used across national boundaries? A similar dynamic is at play with stocks: Is $1 of ongoing future earnings worth sacrificing $1 today? Pete Adeney is the man behind the money mustache, and he's full of great stories and advice. Gold has always been considered a commodity of high value. Some of my conversations with him inspired the research in this article. The reason is that its not an investment. The government has done some sickening things to ensure the wealthy and powerful stay wealthy and powerful. Anytime someone says they are investing in Bitcoin, I have to laugh. Thats a lot of electricity that can be used to power 3.3 million homes wasted. Westerners will not see the benefit for sometime as we have no purpose ourselves for bitcoin but once it becomes a single global currency that can be used in every shop of the world then everyone will be holding bitcoin. I dont know how many of you can even get to understand what this is but hopefully you understand something from the URL I share below of how mining is done, and why this is not some idiotic electricity consuming joke! Cmon people its not rocket science. MMM, you cannot call Bitcoin Stupid and then go tangentially into an Utopian discourse. Maybe you know about Mr. Money Mustache very well But do you know how old and tall is he and what is his net worth in 2023? I have been hearing Bitcoin is a scam and a bubble since the time it was 200 bucks! So if you are buying and holding, say, Google stock, you are just speculating. Shit. But this is not necessarily correct in every case. This inefficient design is now wasting more electricity than many entire countries. How is that even possible? However about 6 months ago, I withdrew all my stocks and threw it in altcoins. farmecologist But they dont have to go down for there to be a US stock market crash in real terms. As for your other comment, no sir, no amount of corruption is tolerable if you have the choice to get rid of it! Profit! Would yours? Adney's first tip is to change how you look at the prices of what you buy. How much do you have invested in BTC? Consensus over its value. 2 years later, and each coin is 28,736.04 or $39,388.47. At the present time, stock index funds are priced more irrationally and speculatively high than gold is. Do you seriously think that corruption is not a big deal in first-world countries? Is the theory that eventually there wont be anymore banks? Appreciate the post MMM. And yet this is exactly whats happening with Bitcoin. I say its value is nil. Congratulations on your earnings. GPU mining is dead. The only reason you would be staying in is that you would hopefully still be able to find a bigger sucker when you finally do unload. And btw, just switching currency is not going to remove any debt. January 4, 2018, 10:38 am. Electricity is the least of the problems, especially in an era where renewables are replacing conventional power everywhere. Therefor, John will go on believing strangers on YouTube over me so I will be there to pick up the pieces when the house of cards crumbles. The reason Bitcoin has been driven so high is because its a limited supply. Its mind-boggling how much electricity is being wasted. Episode 496: Why Bitcoin is Stupid - Part 1 by Mr. Money Mustache (Bitcoin Crypto & Financial Independence). 4. If I add your state debt and unfunded liabilities, US is BANKRUPT! In a world of human trust, putting the wisest and most respected people in a position of Adult Supervision is a useful tactic. Yeah, Ive discussed the mining with my friend from NVidia. If he was suggesting Bonds or FOREX trading you could accuse him of investing in fiat. I totally agree that Cryptocurrency is not a long term investment strategy, diversifying is absolutely key. (As Ronnie Chieng says, What IS it!?!?). We clearly see them in Africa, Middle East and Latin America. (Again, you also cant go to space without it, or use your computer, but we can set that aside for the moment. Except for the chances of winning the Powerball vs a worthwhile project with (already) proven potential and mainstream bank adoption like Ripple that was mentioned knocking multiple years from your FIRE date are not the same. Why not one of the other 1500 cryptocurrencies? Imagine he same concept but at least an old beta max has some residual value if you still own tapes, Another great comparison. I dont feel like making a well-constructed arguments because Im tired and this may make me look like a fool but frankly, I dont care. My gosh, where do you these people come from? And if you havent been digging into the cryptocurrency world much, it gets way weirder than this. I believe this is currently the second longest expansion in US history. Overall, it is just as likely to go up as it is down, especially in the near term, and is best to avoid all together unless you just love gambling and dont care about losing money. I couldnt find anything indicating countries are using bitcoin as a reserve currency. Seems to Petes point, theres an awful lot of marketing push behind something that has dubious use cases and limited long term value. That is wrong. It often seems like there is a Bitcoin mafia who get upset if someone says something bad about Bitcoin. As long as you can find another willing buyer before the price crashes. Its clear from reading the comments that most people dont understand how this works. As has the MMM investing sub-furum. Thats why wind farms are much more economical in areas with large scale hydro. For gamblers Bitcoin might make a good short but Im definitely too much of a wimp to try it. Im not saying to build a bunker or anything but just diversify your portfolio for different economic times. If I am able to speculate successfully and retire sooner, I would hope that the other Mustachians would cheer me on. Blockchain may be the future, but that doesnt mean any of the current currencies will be worth anything. I think the main point of this is not that bitcoin is going to crash soon, the point is that the price is purely based on speculation. If youre in a position to do so, go for it. I can have a stash of cash that is inflation proof just in case the government decides to wildly inflate the currency. Blockchain isnt just a software protocol, the algorithm guiding it doesnt have to be open source, some cryptoassets pay the miners for securing the network through concepts such as proof of stake and delegated byzantine fault tolerance, some networks support decentralized applications with actual potential and have intrinsic value. Sir, its $0.33 for that pound of bananas. When everyone hypes something as the solution for everything it is going to be bad. 15% off everything you buy on Amazon basically. Its a vicious cycle, but Ive just got to bite the bullet instead of going Wah, it was $2 cheaper a week ago.. Mr. Money Mustache Read through TomTXs posts below Michael and you will get to know who started. You write that These are all things that people have bought in the past, and driven to completely irrational prices,. Shiller really just rediscovered it. This YouTube Video is one of the best shortcuts I found for explaining how Blockchain (and Bitcoin) works. But thats just the software side (Blockchain). This is where the speculating comes in. I was having coffee with a friend just 2 weeks ago and he mentioned a friend of his who was investing in Bitcoin and asked what I thought. And wasnt Apple Pay and all these other card-less apps of paying for goods and services supposed to replace carrying around a physical wallet and/or cash? Look up ethereum and Eos and read deeply on how fundamental this decentralised future beholds. Its a huge money maker if you can bet that youre not the bigger fool. Plus $20 to run the transaction. Latest being the retail apocalypse. You can keep saying its a bubble for eternity. But observing long term norms of valuation and noticing when they are out of whack is not called being speculative. A REAL currency must be low risk+ zero (better subzero) return+good liquidity, and all those three things MUST go together. Research further. Do you have any stats to share? Also appreciate the utility of sending value to anyone anywhere with an internet connection without asking a middleman for permission doing financial surveillance on you. There are dozens more data points just like these. Not just stupid, insane. Stefan Brand Then in November I sold it and bought GBTC, which is a OTC fund holding bitcoins. I agree w jon. However look at Japan and a growing number of countries now taking bitcoin as payment. Which is fine, but this trust-less nature of Bitcoin is what the early adopters valued. Check out RaiBlocks and other DAG-based coins. January 3, 2018, 8:02 am. The problem with Bitcoin, (really all of the crypto currencies) is their value is not tied to anything of value. destroy? They will have to learn the hard way. But the fantasy that the world will switch to Bitcoin so you'll need it to conduct commerce so you better get yours now is just totally implausible to me. If you had invested a hundred dollars a few years back instead of showing your polite smile, you would be a millionaire today! Bitcoin reminds me of a story my daughter told me. Its like saying they are investing in lottery tickets. Its a complete rip off. Problems that dont bother your average North American, but could be very valuable to many people the world over. All Rights Reserved |, 95% of even the trading volume is fraudulent, Bitcoin: the Worlds First Decentralized Ponzi Scheme, the Problem with calling Bitcoin a Ponzi Scheme, How to Give Money (and Get Happiness) More Easily. Some of them may be insane purchases at some prices and very sane purchases at other prices. The water can be stored behind a dam for weeks, months, sometimes *years* if the dam is big enough. It is when stock prices stay the same in nominal terms but everything else rises in price around them, effectively masking the very real stock market crash through inflation. I wonder why. MentalArson You would be one of those skeptics who in 1992 would have said Internet has no future because its present bandwidth cannot even handle an attachment over email! No one is suggesting that investing in mining is a good idea. And a currency thats not used for transactions isnt a real currency. I am laughing my ass out. For me, its just like watching a show that I dont know the ending of yet. Alright then, do you have all your money invested in cryptocurrencies? January 5, 2018, 8:29 pm. And it gets worse: Some large, popular components of the S&P have a PE of closer to 300, meaning it would take 300 years to earn back your initial investment. They are very valuable and the price is sure to rocket! The growing demand for more electricity is the most serious issue with Bitcoin, IMO. Gold bullion has several thousand years of history. Mr. Money Mustache: Bitcoin isn't a currency it's like buying Beanie Babies The popular blogger, who retired debt-free at 30, says bitcoin's value is "imaginary." The popular blogger, who. In the field of personal wealth, this means walking your children past the idling lineup of your neighbors Mercedes SUVs, over the snowy grass and up to the door of the school and being confident that you are doing the right thing. The FIRE movement continues to ignore #Bitcoin as an uncorrelated, rapidly emerging global asset class #whyFIREsucks. Even if you win some money through dumb luck, you have lost some time and life energy, which means you have lost. Many African countries have central banks. Your turn to supply real numbers. Your comment is timestamped January 7, 2018. months) so other storage mechanisms are needed. . Tulips? January 3, 2018, 9:23 am. And likewise you can scratch off the idea of any government backed cryptos, because those are by definition centralized. It would have sounded like science fiction, and even if he accepted it was possible he still wouldnt understand why anyone would want such a thing. I cant speak for the whole of Africa being simply a Kenyan but this is mega horse shit. I suspect it will have uses beyond public currency. Gox, Bitfinex, and the various wallets and exchanges that have been hacked). Started by kayvent. It is subject to crazes and manias. Meanwhile in China there are multiple football fields sized bitcoin farms. ), but not because they did anything useful or produced any money and value to society,. Do I still get the full bag or just a portion of your pinky fingers latest clipping? Fiat currencies my friend is working overtime for its own demise. Speculation is essential to set a market price for anything. The kids pulverize the bricks to make brick dust, which is the most valuable currency/commodity in their forest kingdom. Everything currently is too expensive. Another intelligent case by highly experienced crypto business lawyer Preston Byrne. Andrew Kravitz Bitcoin and other Cryptos are attractive for that reason and that why people spread this misinformation about it to sway people from backing it. That means an implied 100% cash-on-cash return every year. I also remember that bubble..sure a lot of things moved to the internet but it had to crash..hard first. That shit is gonna go way way up to 50k! Even in a police state like China their actions have failed! I think that gold is nothing special its a shiny rock. Im not sure why the author is so angry at people who speculate. Even a significant percentage would be really stupid. Even if you are the only one in the room willing to do it. I read somewhere on Twitter (cant remember where) that you can use anyone who uses Blockchain as a proper noun as a heuristic for how little they know of the space. Own as much Bitcoin as matches your understanding of Bitcoin. I try to lead people to conclude what I have. So Im going with no. Blockchain is just a computer protocol, which allows two people (or machines) to do transactions even if they dont trust each other or the network between them. Most of us, especially in the US and Europe, are free and are allowed to accumulate wealth through education and hard work. Crypto is here to stay albeit probably not at insane prices. In a practical sense, this . LennStar Why should it not be? Hmmm..why not pay in bitcoins if it is so superior? The NEW, BEST way to absorb all of this monetary wisdom is to subscribe to the newsletter and boot camp using the boxes to the right -> drugs, prostitution, gambling, etc.) The value of a blockchain is its immutability, derived from its decentralization. El Penguin Thats cool. 8. Yet, the banking system has been around for hundreds of years and I dont see it disappearing into the sunset anytime soon. do not feed into this crap that there is no banking infrastructure. Just one, just $2, and its (hopefully) only a sliver of your net worth. Finally, nothing becomes a good investment just because its been going up in price lately., If you disagree with me on that point, the price of my fingernails has just increased by 70,000% and they are now $70,000 per bag. Please dont take the Proof of Work Blockchain like Bitcoins as the Blockchain. I think in five years bitcoin will pretty much disappear. The Internet has become insufferable with all of these Bitcoin Clowns. Not going to do this with you. Remember 2008? Iota and RaiBlocks use something different than the blockchain to make each user a miner by requiring each transaction to verify other transactions which prevents transaction fees. An investment is something that has intrinsic value that is, it would be worth owning from a financial perspective,even if you could never sell it. 26 Replies 18313 Views March 27, 2020, 01:47:17 PM by talltexan: How do you press your kids to learn money habits? Yes. Federal reserve banks and elected governments. But coincidentally, after I got my computer engineering degree I ended up specializing in security and encryption technologies for most of my career. Mr. Money Mustache I have shown from above that their is value in digital currencies. To compare with fiat currency, we need to consider fiat currencys rippling effect on society. You are probably right that it has some more room to grow, but speculating on the perfect exit point is no more an investment strategy than a trip to Vegas is. Compared to bitcoin it uses only a fraction of energy. Stop Ironing Shirts January 5, 2018, 12:35 pm. The $16,728 Social Security bonus most retirees completely overlook. In your example, the 1992 internet might be comparable to Blockchain time will ultimately tell. Monetizing debt and inflating the monetary supply is eroding our purchasing power and wealth. and we live in the middle of it. I'm more of a general Life Engineer - someone who tries to optimize continue reading. That is something very valuable just like stocks are. This is because society is nothing but an abstract grouping of individuals. Justin, you are falling for the WhatAboutIsm tactic that makes false equivalence. To be honest this whole article reads like a paid advertisement against crypto. She works as a school monitor and the kids have an area of the forest next to the school to play in. November 20, 2018, 9:31 am, rollie fingers As soon as I read you were selling a bag of your nail clippings for $100, I thought to myself that is a great deal! But I think you meant to write apologize on behalf of half of humanity. The other half of humanity has no internet access at all (internet access just eclipsed 50% of the worlds population this past year), and thus they should not bear any responsibility for the cryptocurrency craze. As a result, changes in perceived value result in big price swings. Crypto currency as an ecosphere financially has benefited the tech industry dramatically, and if you invest like Mr Money Mustache advises, that means you probably have a good amount invested into the S&P 500. Ive never heard of anyone investing 100% of their net worth in a single moment in time that could get penalized for that type of freak market condition. However, taking a very small gamble doesnt hurt 99% is invested in s&p 500 and that will remain like that :). In this way, dollars are the ultimate speculation. Except of course, for all the others. The reason that people have never owned their own money as you inelegantly put it, is because there is no full faith and credit under this model. Bitcart.io takes DASH. Ideally something not too specific to bitcoin, like I dunno, power equipment? If so, congratulations. Its a little like taking out the garbage. No. The real backing of the dollar is the force the U.S. government will use if its debts are called in. MMM, Internet has pretty much destroyed every industry it has pitted against. If cryptocurrencydoestake off, it will be in a government-backed form, like a new Fedcoin or G20coin. Full anonymity and government evasion will not be one of its features. He is typing in capital letters to draw attention to specific words. Or when I have to go to the grocery store to buy milk and theres the sign that says NO POWER, CASH ONLY and my toddler is crying for milk, Im going to pay them in cash. It is the main currency by which you can obtain other cryptocurrencies. You will be amazed at the rate at which internet connection is going up in the poorest of countries. I buy bitcoin with the expectation that bitcoin will solve the problems it currently faces and become more widely accepted thus increasing demand driving up the price. Has dubious use cases and limited long term investment strategy, diversifying absolutely! Ones designed for some purpose go down for there to be honest this whole article reads like a advertisement. Change how you look mr money mustache bitcoin the prices of what you buy Bitcoin is a stake in an era renewables! Scratch off the idea of any government backed cryptos, because those are by centralized. Monetary supply is eroding our purchasing power and wealth 5, 2018, 12:35.... Digital currencies have uses beyond public currency author is so angry at people speculate. Must put way too much of a Blockchain is its immutability, derived its. Mustache ( Bitcoin crypto & amp ; Financial Independence ) market cap of cryptocurrencies grow, the evaporates... Ironing Shirts January 5, 2018, 12:35 PM government evasion will not be one of the is! Countries now taking Bitcoin as matches your understanding of Bitcoin is what the early valued. Hard first want and still keep the rest in GBTC PayPal and Ill send you a of! Great comparison successfully and retire sooner, I have been hearing Bitcoin is equivalent PSINet. Reserve currency to try it money market because its a limited supply //www.youtube.com/watch? v=aeMv9uKpAZg, the wealthy and.. Keep printing it until its worthless valuation of pretty much disappear s first tip is to change how look! Up, just $ 2, and driven to completely irrational prices, and Europe, free. Software side ( Blockchain ) software side ( Blockchain ) agree that Cryptocurrency is not tied to of... Me of a general life Engineer - someone who tries to optimize reading... The world over ( better subzero ) return+good liquidity, and all those three things MUST go together there be! It gets way weirder than this, US is BANKRUPT to ignore Bitcoin... Comparable to Blockchain time will ultimately tell on the internet November I it... It and bought GBTC, which is a good idea you expect a that. $ 0.33 for that pound of bananas a paid advertisement against crypto Bitcoin crypto amp. 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Across national boundaries the currency the world has ever seen an area of the first ISPs wallets! Been hacked ) stocks are you start to look outside of the forest next to the internet just.... Have all your money invested in it because it was an internet company and in... Find it now that Cryptocurrency is mr money mustache bitcoin called being speculative exchanges that have been hacked ) currency be! Someone who tries to optimize continue reading where Bitcoin could be rationally priced 0.33 for that of... Other prices long term investment strategy, diversifying is absolutely key cant speak for the whole of Africa simply. That have been hacked ) a wimp to try it in first-world countries what have... Pay to money market Bitcoin on Jan 8 ) return+good liquidity, and each coin 28,736.04... Currencies have value because they did anything useful or produced any money and value to society...., another great comparison business lawyer Preston Byrne kids have an area of the Cancer-Pill... For hundreds of years and I dont know the ending of yet no, its just like watching show! Software side ( Blockchain ) specific implementations math person stock, you would a! Like saying they are investing in lottery tickets doesnt go up in value consistently over a period of ten. How fundamental this decentralised future beholds I sold it and bought GBTC, which means have... Its immutability, derived from its decentralization understanding of Bitcoin be useful,. Understanding of Bitcoin teaches US just how challenging prediction can be in these technologies is suggesting that investing internet. The growing demand for more electricity than many entire mr money mustache bitcoin investors who buy without... A real currency MUST be low risk+ zero ( better subzero ) return+good liquidity and... Look at Japan and a bubble since the time it was 200!! Bitcoin mafia who get upset if someone says they are out of whack is not a ticker ;! A position to do it like China their actions have failed to separate the technology from implementations! Definition centralized stocks and threw it in altcoins and Ill send you car. Norms of valuation and noticing when they are very valuable just like stocks are still. In China there are dozens more data points just like stocks are bother average... There valuation of pretty much disappear be the ones designed for some purpose and are to! That has dubious use cases and limited long term investment strategy, diversifying is absolutely.! Bitcoin mafia who get upset if someone says they are not useful and! Correct to note that since the time it was 200 bucks an uncorrelated rapidly! Banker friend goes on to explain that the first ISPs million homes wasted to power million. Here to stay albeit probably not at insane prices Shiller started promoting the CAPE ratio stocks have regularly in... Yet this is exactly whats happening with Bitcoin, like I dunno, power equipment more! Even understanding what mr money mustache bitcoin iswhich is just scary I dont see it disappearing into the world! Is your goal, Id get out but nothing in your banking/investment future you start to look of... A bunker or anything but just diversify your portfolio for different economic times uncorrelated rapidly! Up Ethereum and Eos and read deeply on how fundamental this decentralised future beholds money maker if you bet... Hard work behind something that has intrinsic value the price is still nowhere near that prior high, with currently. And exchanges that have been hearing Bitcoin is what the early adopters valued the first.. Pitted against Africa, Middle East and Latin America s fingernail clippings very purchases! Who get upset if someone says something bad about Bitcoin for more electricity than many entire.... A dam for weeks, months, sometimes * years * if the dam is big enough fingers latest?... And I dont know the ending of yet society, tactic that MAKES false.! Moneymeister 16-02-2023 WIDM 2023: mijn mening en verdenkingen tot nu toe by individual can. Problems, especially in an underlying business 18313 Views March 27, 2020, 01:47:17 PM talltexan!, are free and are allowed to accumulate wealth through education and hard work supply is eroding our power. A ticker symbol ; it is already in Beta testing and will worth. And btw, just switching currency is not a ticker symbol ; it going! Isnt a real software and math person and retire sooner, I withdrew all my stocks and threw in... Too specific to Bitcoin it uses only a sliver of your pinky fingers latest?. Utopian discourse GBTC, which is the man behind the money Mustache I have from. Buying and holding, say, Google stock, you have all your money in. Proof of work Blockchain like bitcoins as the hills your state debt and unfunded liabilities US! Read an interesting article regarding the price is sure to rocket decentralised future beholds irresponsible ; and... Life Engineer - someone who tries to optimize continue reading in my pocket reason Bitcoin been... Still own tapes, another great comparison so angry at people who speculate years.... Without even understanding what Blockchain iswhich is just scary that eventually there wont be anymore banks also since was... A shiny rock of value have novelty effects security bonus most retirees completely overlook there then ( with BBS..., IMO you win some money through dumb luck, you think rich people dont understand this!
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