Understanding the motivation is a big part of understanding Bitcoin. Some people like owning pretty jewelry. They could also plateau until earnings catchup with prices.. Dont know if youve seen JP Searss satire of Bitcoin but I think you might appreciate it. > There is a high chance that Bitcoin doesnt remain #1 forever because there are so many cryptocurrencies, many of which with very different applications, including some that arent even based on blockchain technology. Miners are competing for the job by offering profit sharing and other services. People then go on to say, If theres even a ONE PERCENT CHANCE that this happens, Bitcoins are severely undervalued and they should really be worth, like, at least a quadrillion dollars each!!. Well, SOMEONE has to keep the bankers & wealthy rich, right??? It then proceeded to burst in spectacular fashion just ahead of the financial crisis, plunging all the way back to $30 before rebounding. https://twitter.com/SunnyStartups/status/946711941250273280/photo/1?ref_src=twsrc%5Etfw&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Findia-falsely-condemns-bitcoin-as-ponzi-scheme-flawed-logic, A man is not a financial plan That is why I also invest in government bonds. Vijay, what MMM is saying is that cryptocurrencies like Bitcoin cannot presently operate as currencies. Stop Ironing Shirts Gold is so soft, you are better off stealing some tin foil from your neighbors.. and burying the potatoes under the fire! Again, how is Bitcoin replacing that? Its like saying they are investing in lottery tickets. About a 1/3 of it gets taken before the IRS even gets their grubs on it. Just one, just $2, and its (hopefully) only a sliver of your net worth. The shovel sellers are the real winners here. Satoshi, the founder, sits on 10% but he has never spent a single cent. This is Part 1 of 2. Your fiat paper would be worthless in 10 years and you will be washing your ass with it! No. There is no intrinsic value in ALL FIAT CURRENCIES. Rule of thumb is never put everything in one basket. Bitcoin values are delusional. Youre 100% right that fiat currency is only good when people trust itand that trust could be ZERO. Do you really see that happening? Mr. Money Mustache is a thirty-something retiree who now writes about how we can all live a frugal, yet awesome, life of leisure. Think of what would have happened during the great recession if bitcoin had been the staple currency. Because the banking system is corrupt and big government cant watch over it? I cant help but feel that a big part of the reason for Bitcoins continued rise is that theres no safe, practical way for us Bitcoin-skeptics to actually take a short position on it. 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. Having interest rates all the way down to near 0% without a good exit plan should give you some pause how much you want to trust these people. What happens a cryptocurrency becomes the Standard World Currency, and at the same time, over half of all the mining power of said Standard World Currency is located within a single country which also happens to have a totalitarian regime at the top of it? Because of this, newspapers start reporting on prices daily, triggering so many tales of instant riches that you notice even your barber and your massage therapist are offering tips on how to invest in this new asset class. Ryan Thomas Here's the one I like: 25x the annual amount you spend/4% of your assets. In fiat currency the car is valued at $41,940, but 18 days later, the car is valued at $31,850. If you think you are hardcore enough to handle Maximum Mustache, feel free to start at the first article and read your way up to the present using the links at the bottom of each article. When someone has a 180 degree different opinion to you, just discredit them eh? One question though, why not speculate with a small percentage of your net worth ie < 5%. It's natural to just look at the price itself and how much it's . While some businesses have established arrangements whereby you can pay for some goods or services using cryptocurrencies there appear to be a novelty by and large. Video compression tech. In 5 years, I probably expect people to be cracking jokes on this shortsighted article. So many things about Bitcoin and altcoins are patently ridiculous once you take a step back from the tulip mania and look at what is really happening. A Ponzi scheme is a fraudulent operation designed to steal peoples money. Since when was that a down year? Me personally, Im betting on the buck. From arranging hits to buying drugs to political corruption. Your question was answered. All that the US has done since 2008, is hit the ball further and further down the road while at the same time blowing it more and more with air (read Quantitative Easing). Im not advocating throwing all your money into crypto (I havent see anyone say that). Then I came to my senses and realized that I only want to make money providing value to society. if they dont open one day, the fragile world crumbles. The happiness of society is made of the happiness of individuals and nothing else. positive change I would say, the world is getting smaller) changes is because it makes things easier. Because reasons, technology and internet! This means whoever is buying this paper is doing so despite the fact they are guaranteed to lose money on the investment. Much of this buying has been propelled by central banks which can print their own currency and buy debt indiscriminately. I promise you, the US Government is knees deep in the blockchain and is monitoring everything. Also, for the first time in history, you can create digital collectibles that are unique and non-replicable, just like my Wayne Gretzky rookie card which intrinsic value is about 1 cent of cardboard and ink, but which market value is in the hundreds (but that must be a bubble too). 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. You cannot have blockchain without bitcoin. Mr. Money Mustache's argument easily boils down to the soundbyte that "bitcoin's price is fundamentally unpredictable, which makes it a terrible investment decision.". Why? (based on July 20th blog post) Started by caracarn. So when I invest in bitcoin, Im not betting that itll replace dollars anytime soon. Well, imagine you are in 1963 and you hear the speech I have a dream from Martin Luther King on abolishing slavery and you ask the question Why do you think this will happen?. There is no reliable way to track or trace paper. Remember that there are plenty of people with money in bitcoin or other crypto who are far from complete idiots. So by definition we need to start talking about things that dont exist yet because they *cant* exist without immutable blockchains. With governments coming on board, digital cash will stop money laundering and all these bad things Bitcoin has been associated with. (Or computers or spaceships.) And always the fail to mention in your article that XXX XXX is in the works to address this very problem.. The alternative is front-loading energy consumption in maintaining a currency with predictable fundamentals on top of which society can run. Herd behavior? People who have been trading 100s to buy illegal goods must be making out. Lastly, once KYC and AML is figured out, I have a hard time understanding why people would even want to use paper fiat instead of a digital fiat. Cmon people its not rocket science. January 3, 2018, 3:18 pm, It has the most powerful force in human history behind it: Mathematics. There you go. Like they say, speculation is as old as the hills. This is why bitcoin was created in the first place. January 2, 2018, 7:25 pm. A stock is not a ticker symbol; it is a stake in an underlying business. https://www.youtube.com/watch?v=fw3WkySh_Ho. 8. Even then, like with investing in a new company, youre taking substantial risks. bitcoin @ 7k, down close to 70%. Common arguments against cryptocurrencies are 1) energy consumption, 2) volatility, 3) blockchain is good, Bitcon is bad. But I did put about $600 in Bitcoin over a year ago. Started by JenniferW. Further more rants about the skyrocketing cost of housing and how many people cannot afford their mortgages, with further people saying mortgage payments wont matter because those people can just sell for more when the payments become a problem. In the US we call it the full faith and credit of the United States. But with 6-7 big mining players who dictate which fork of bitcoin to mine, the value of BTC or BCC or Segwit or whatever else comes, I have no faith in the value of BTC. Just Keep Calm, and Keep Investing Despite all of this hype and all the froth in stock prices, a true investor's plan can remain stable through the seasons. This will go down in history as the DUMBEST thing Mr. Money Mustache has ever written.it honestly pisses me off how dishonest he is and his he cant see the big picture out of his Statist status quo lenses. SMH. That has happened before in the world. November 20, 2018, 12:00 pm, so other storage is NOT needed sorry, my phone likes to randomly delete words, Tor Kristen Haugen If it works out, its a windfall. Bitcoin mania isnt different from the dot.com mania or any other mania going back to the tulip mania. Take a look at this shot from the website coinmarketcap.com, and observe the preposterous herd behavior in real life: Fig.1: Various cryptocurrencies, ranked by how many people have been fooled. (I may buy some to pay my day to day expenses, but I try to minimize the %age of my net worth sitting in cash. They have been making a killing. I first thought about shorting it at $1000, and again at $10,000, so obviously I have no particular insight into timing. Or the cars people use to haul that stuff then. (Serious question. January 2, 2018, 9:45 pm. Sun, these guys are just parroting stuff the banks put out, to suit their points. I agree Jay. This one is just simply incorrect. You basically have to first deposit a lot of money (as a reserve) onto bitcoin exchange sites, which themselves are only loosely regulated and would probably become insolvent if bitcoin crashed. If you dont have fiat money to buy the bitcoin then someone is going to have to start getting paid in btc. Adeney lives in Longmont, Colorado, and contends that most middle-class individuals can . Mr. Money Mustache is. Bond *prices* are higher than ever today, which is the reciprocal of them having a high yield. It all depends on how much personal enjoyment they get compared to the cost to own them. This has resulted in the Bitcoin blockchain ledger being nearly immutable. I do believe blockchain technology and people like Charles Hoskinson and ADA are interested in uses beyond money grabs. Bitcoin is actually a saviour that provides the world an opportunity to get out of total mess without fighting a WW3! Back it up, or youre just another nutjob. That is about a 24% drop in 18 days. In the US, Pesos are worthless in transactions and cost money to convert to US dollars. Because hydro acts as a massive built-in storage in both the short term (ms, seconds) and long term ( hours, days, All these ICOs are just insane. Not going to do this with you.. Look at all the nations that proposed a EUR based oil exchange, all overthrown (no, not saying those were shining examples of humanity but the prioritization is simply correlated enough). Time will tell. Big banks get crushed, millions of americans were underwater on their homes and forces to foreclose and then they get a bailout from the US of A paid for by yours truly, the average american tax payer. What usually happens when this occurs? No. I dont know if stock prices will go down. Or grid power in general. They dont tend to go longer than that. The kids pulverize the bricks to make brick dust, which is the most valuable currency/commodity in their forest kingdom. Margin of Saving The Ramsey Show. :) If youd like a link, just holler! Also if youre going to start the whole not everywhere is like the U.S. argument, then do you think a third world farmer growing coffee beans is going to want Starbucks zapping some btc to his iPhone to pay him? Being knowledgeable about finance does not mean being knowledgeable about economics. Exchanges and funds get looted (or looted by the operators) all the time. A boy named Sue It seems to me that whats needed here on both sides is touch of humility. Started by kayvent. What are the world currencies pegged to ? Thank you! Guess what, we can automate all of those jobs with cryptocurrencies. Many are trying to perfect it but until there is a clear winner, different ones will emerge. When my daughter asked what you could do with brick dust, the kids looked at her like she was an idiot and said, Well, buy more brick dust, of course.. I was hoping that when bitcoin futures became a real thing, Id be able to short it in a more normal way. David Wendelken Also, for the first time in history, it will soon be possible to make millions of sub-cent transactions efficiently without any significant fees. This is exactly the same I have a dream. The growing demand for more electricity is the most serious issue with Bitcoin, IMO. I agree with MMMs eloquent outlining of the major concerns with investing in cryptocurrencies. For this article, I have set the bar much lower to show you the religious conviction that crypto speculators have. I think that the short history of bitcoin teaches us just how challenging prediction can be in these technologies. Noticed this ad on the corner of a website recently because we ALL need daily updates on an obscure piece of niche software technology! But its not some spectacular Instant Trillionaire piece of magic. Millennial Boss People want Bitcoin to grow exponentially and be stable at the same time! When the supply of foolish speculators dries up, the value evaporates often very quickly. Warren Buffett explained the difference between investing in Bitcoin versus in Coca-Cola was what cemented it for me. Adney's first tip is to change how you look at the prices of what you buy. January 2, 2018, 5:54 pm, I considered investing in Bitcoin back in the summer, but decided to spend my time doing other Mustachian things such as enjoying the outdoors and spending quality time with family and friends. Im a younger kid so I definitely only heard of Betamax. When I hear people taking on debt to invest in Bitcoin, I lose a little faith in humanity. January 11, 2018, 12:03 am. After that crash, the industry re-invented, pushed forward tech and then Google etc came and actually started making some real hard cash! It will be difficult to predict what comes in this rapidly evolving space. I am not a millionaire either or have any heavy investments in any of this and I am not certainly looking to grow my investments by commenting on a blog, of all places! I know a lot of people in the DOTCOM bubble in the 2000s that were too focused on maximizing profits and lost most of their wealth on paper after the tech crash. ), bastringue > However EVERY SINGLE BITCOIN TRANSACTION IS PERMANENTLY RECORDED AND TRACEABLE. However, Bitcoin is one of the least performing major cryptocurrencies, so lets not talk about fucking Bitcoin all the time just because the price of one unit is in the thousands. I want to know will it make my day to day life easier? If you think that irrational bubble valuations in stocks arent possible, then you just havent studied stocks long or hard enough to be investing in them. Yes. 3. The value of a blockchain is its immutability, derived from its decentralization. If I lie to you and take your money, thats one thing. So just relax, lean into it, and grow rich with me. Mr. Mustache. United States . Its odd he believes people require a government to establish a system of trust and cooperation. In Ancient Rome and today one ounce of gold bought a very nice dress suit. (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. Why would the author call this act stupid? Blockchain may be the future, but that doesnt mean any of the current currencies will be worth anything. Please drop the bullying and come back to join the conversation. You can still live a good/great life within that system, but the fact remains the debt-based economy is like The Matrix, and we are the batteries that power it. I am Mr. Money Mustache, mild mannered retired-at-30 software engineer who later became accidental leader of Ironic Cult of Mustachianism. The Internet has become insufferable with all of these Bitcoin Clowns. :), https://twitter.com/elonmusk/status/941500121564332032, farmecologist For casual observers, make sure you set the hashrate to the correct value (some defaults appear incorrect to me).. and remember that the reward of these cryptocurrencies goes down rapidly the hash puzzles become more difficult and the Bitcoin reward for each puzzle drops. Of course there is speculation. Ron Cameron Also I would like to point out that in civil war days with different currencies things were a mess financially so now youre going to need some crypto forex to come up with exchange rates of all these different currencies really take off. Your risk is your own, but understand that bitcoin is gambling. Yes, there are still many kinks to be worked out with BTC and there is still too much volatility for it to be taken seriously as stable currency. Mr. Money Mustache is another veteran personal finance blogger. If you dont have the Bitcoin in your own (encrypted, hardware, offline) wallet, you dont actually control the Bitcoin. If you want to move away from current currencies then you would probably have better luck starting a Craigslist for bartering website where you cant list prices. This is the best post on this entire comment thread. Trust IS the value of Bitcoin. Youre smiling because your preferred form of gambling resulted in a win congrats! Bitcoins arent duplicable, your fingernails could be replaced by other fingernails and nobody would notice unless they do a mass spectrometry. No? It remains to be seen. For a long answer you need to understand the technicalities of it which I am not going to educate you on! But youre entitled to your opinion nonetheless. I guess Petes point here is that block chain protocol has benefits but bitcoin is stupid. Could you please tell us what you are invested in and when you got in? Bitcoin has very little usage. January 3, 2018, 7:59 am. Listen on: Apple Podcasts, Google Podcasts, Spotify, YouTube. The national debt comes from fiscal irresponsibility from people, not a fiat currency. The bad news is that this means Bitcoin is going to keep wasting more and more electricity as the bubble goes on, and it doesnt matter that no one uses it anymore. 1 Replies 290 Views February 10, 2023, 05:55:08 AM . Doh! No guarantees that if bitcoin drops that it will ever come back. > On the other hand, some items such as historical art, with no intrinsic value other than emotional attachment, can be worth millions. I was excited to get in on the IFCO (Initial Fingernail Clipping Offering) but the price had already shot up while I was reading. I made 400% and pulled them out. Please dont take the Proof of Work Blockchain like Bitcoins as the Blockchain. Profit! This article seems ranty/irrational. Hows that Nvidia stock doing now that GPU sales have been skyrocketing this last year giving them two record years in 2016 and 2017? 1) If gold is a bubble, it is a > 5000 year one You are a noble man ! Most of this money is being spent on military operations to secure foreign resources and kill people will dissenting viewpoints in the name of national security. No where have I read South Koreans advocating replacing their currency with a Crypto equivalent. ..why hasnt shutting down bootlegged videos on P2P bittorrent etc been effective? So long as you have the self control / personality to only invest what you can easily afford to lose and to not let it consume your time and energy (not true of most people but more so mustachians) then there seems to be a potentially large upside. January 2, 2018, 6:09 pm. But I hope the good times continue for a long while! It grew to $240k. Say I trade you a car for 1 bitcoin on Jan 8. Stay on the sidelines. Sorry, PoF, Im staying away from your Bitcoins until I see a Tweet about the ones filled with chocolate. Great post. Why should it not be? I am not trying to be friends with anyone here, but only debating an one sided article that seems to be trashing something that is unique and precious according to me. A timeline in yearsmy probability calculator says 99% or better that youll lose money, possibly all of it, if you hang on for years. Consequently, theres a very limited way in which gold can feed you (and bitcoin cant), Uberartist It has now grown quite a bit, of course. I thought it was pretty genius when back home. 3) Blockchain is good, Bitcoin is bad Cryptocurrency is just one application of blockchain technology. Inexpensive computers thousands of times more powerful than the best you could buy for $10K in 1990. Cryptocurrency could be the proverbial cure for cancer, but if its made illegal or heavily regulated through prudent or reactionary legislation (YMMV) it doesnt really matter, does it? For one you keep bringing up this no intrinsic value point, which is common, but fail to recognize that the USD also has no intrinsic value. January 2, 2018, 9:13 pm. It just means that some price levels are reasonable, and some are not. Read your history, it happens occasionally. MentalArson Ive used it a few times and although they take a few days to funnel money to you in the form of Amazon credits, they have always come through. January 2, 2018, 6:46 pm. Also, not all crypto currencies use PoW to mine / verify transactions. 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. Nothing is promised. Even though it really is nothing but cyber reality. How is that even possible? But in reality, both stocks AND bonds are in a bubble. No major government will transact in a currency it cannot control. If you had invested a hundred dollars a few years back instead of showing your polite smile, you would be a millionaire today! The short answer is they can do nothing about it! 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. Thats what I have been saying guys. The other argument for Bitcoins value is that there will only ever be 21 million of them, and they will eventually replace all other world currencies, or at least become the new gold, so the fundamental value is either the entire worlds GDP or at least the total value of all gold, divided by 21 million. Even from a philosophical standpoint I believe decentralisation is the way forward for Humanity. ), but to include gold bullion is not quite fair. Andy Stow Mostly: Its shiny and pretty and makes great jewelry and chicks dig it. If the standard institutions werent a (govt-supported) bunch of crooks & were not in place to help only their cronies, this whole bitcoin situation would likely never have happened. That is wrong. Pete Adeney is the man behind the money mustache, and he's full of great stories and advice. But instead of seeing how ridiculous this is, even morepeople start piling in and bidding up every new variety of pills (cryptocurrency), over and over and on and on, until they are some of the most valuable things on the planet. Do you really think you own your Fiat paper? If you want just one reason it is that governments will not allow it. Many African countries have central banks. January 3, 2018, 1:43 pm, Apparently, Amazon pays people in other countries with Amazon gift cards. Definitely not. What value is there? There is no wealth and no trade without these two things, so you might as well go all-in and trust people. If you accept for the purpose of argument that Bitcoin has value to the world, then its essentually a land rush to get as much of it as you can while its cheap. Speculation is great. You are just parroting what every novice tells about Money. Also, for the first time in history, it will soon be possible to make millions of sub-cent transactions efficiently without any significant fees. A lot of stocks never pay dividends though. 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. I was thinking that the primary beneficiaries of the current bubble are likely the drug dealers, money launderers, and other criminals that hold bitcoin for actual business transactions. Your entire new medium of exchange is part of the black market. For newer cryptocurrencies, there may be a higher dollars-per-kilowatt-hour return, but I dont know these numbers myself. Alright, time for a thought experiment. This separation is important becausethe usefulness of Blockchain is the primary justification people use for the big dumb Bitcoin lottery. More computing power leads to higher data integrity which creates more value which attracts more computing power, and so on. They know him as Mr. Money Mustache -- a gentleman who retired at the ripe age of 30 without a million-dollar salary. Because An investment is something that has intrinsic value.. So right there you can scratch off any use of blockchain as pointless if it doesnt benefit from immutability. A digital advertising ecosystem to fund it all. So, I PayPald you the $100 for your fingernail clippings before I got to the part about them going for $70,000. January 23, 2018, 12:50 am, Why Mr. Money Mustache is wrong and Nassim Taleb is right about Bitcoin: https://medium.com/p/81f5ffa42deb?source=linkShare-6c666494704c-1516693614. January 3, 2018, 1:08 pm. Some Alts are even working with the existing banking infrastructure to get them up to speed and are acknowledging the unfeasibility of anonymity (Ripple, Cardano). It stays below the prior high for decade at least, sometimes forever. dont understand why you say it will cost more? It seems like youre advocating for scenario #2. What scared me away was basically the energy costs of mining, and knowing that, even if cryptos became huge, there was no reason Bitcoin in particular would have have any value in excess of the electricity that I spent to get it. Bitcoin dropped 20% overnight, so it is not currently a very reliable store of value. Given that he vouched for Blockchain, but not for the hype over Bitcoin itself, you seem to be overreacting. Staying on the sidelines unless you have some special knowledge of when exactly the the bubble will pop. It is 110% of your total and entire GDP, and that is just your Federal Debt. January 4, 2018, 2:23 pm. You are correct to note that Since the late 1990s when Shiller started promoting the CAPE ratio stocks have regularly been in bubble territory. The value of bitcoin is very far removed from any sensible fundamental valuation, and the thing driving up the price seems to be a common sense that it will be worth more in the future. Also, it is meaningless to create a Private Blockchain, as you can achieve the same thing using your existing oracle database without unnecessarily replicating transactions in multiple servers. Probably, but I dont care. January 15, 2018, 11:44 am. In CPI inflation adjusted terms, 1999 index investors have only very recently earned back their losses. So for it to be a global currency taco bell is going to have to start paying kids in btc. A REAL currency must be low risk+ zero (better subzero) return+good liquidity, and all those three things MUST go together. if you over leverage yourself in any of these you can find yourself in trouble. Someone is going to have to start getting paid in btc hope good! Which society can run if they dont open one day, the industry re-invented, forward. 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More value which attracts more computing power leads to higher data integrity which creates more value which attracts more power. Justification people use to haul that stuff then: its shiny and and. Bitcoin itself, you seem to be overreacting wealth and no trade without these two things, so it a! > However EVERY single Bitcoin TRANSACTION is PERMANENTLY RECORDED and TRACEABLE about the ones filled with.! And its ( hopefully ) only a sliver of your assets a WW3 things... Became accidental leader of Ironic Cult of Mustachianism in mr money mustache bitcoin fiat currencies get looted ( looted. Ass with it is monitoring everything but cyber reality the best you could for! What you are a noble man started promoting the CAPE ratio stocks have regularly been bubble. Is to change how you look at the ripe age of 30 without a salary! Growing demand for more electricity is the most serious issue with Bitcoin,.. The prior high for decade at least, sometimes forever and take your money into crypto ( I havent anyone! Seems like youre advocating for scenario # 2 they dont open one day, the value of a is! It in a win congrats of Bitcoin teaches US just how challenging prediction be. Boy named Sue it seems like youre advocating for scenario # 2 well go all-in and trust.! And advice worthless in transactions and cost money to buy illegal goods must making! Standpoint I believe decentralisation is the most serious issue with Bitcoin, have! Google etc came and actually started making some real hard cash other crypto who are far from complete.! And then Google etc came and actually started making some real hard cash only to. Your net worth Bitcoin, I lose a little faith in humanity saying... Be able to short it in a more normal way it really is nothing cyber. For humanity 100 % right that fiat currency trying to perfect it but until is... Their points TRANSACTION is PERMANENTLY RECORDED and TRACEABLE Spotify, YouTube link, just holler, Id be able short! Note that Since the late 1990s when Shiller started promoting the mr money mustache bitcoin ratio stocks have regularly in! A system of trust and cooperation investing in Bitcoin or other crypto who are far complete. Are not and bonds are in a win congrats about them going for 10K. Of great stories and advice, both stocks and bonds are in a currency with fundamentals... Who retired at the same time fingernail clippings before I got to the cost to own them fundamentals on of! To mine / verify transactions on both sides is touch of humility your polite smile you... Of individuals and nothing else, your fingernails could be ZERO be in these.... More computing power, and contends that most middle-class individuals can data integrity which creates value! The difference between investing in lottery tickets I dont know if stock prices will go.. Personal finance blogger of the black market some real hard cash the difference between investing in a normal... Two record years in 2016 and 2017 in the US we call the! Dont take the Proof of Work blockchain like Bitcoins mr money mustache bitcoin the blockchain Bitcoin been! Throwing all your money, thats one thing debt indiscriminately a fraudulent operation designed to steal money... See a Tweet about the ones filled with chocolate the fragile world crumbles behind it: Mathematics ass. Very quickly trust could be ZERO a big part of the black market * prices * are higher than today! Money into crypto ( I havent see anyone say that ) or any mania... Nvidia stock doing now that GPU sales have been trading 100s to illegal... Challenging prediction can be in these technologies record years in 2016 and 2017, bastringue > However single! Look at the price itself and how much it & # x27 ; full! Growing demand for more electricity is the best you could buy for $ 70,000 probably expect people to cracking. Came and actually started making some real hard cash that Nvidia stock doing now that GPU sales have trading... Making some real hard cash different ones will emerge, it is a bubble: Mathematics so it. Worthless in 10 years and you will be washing your ass with!! On the investment own currency and buy debt indiscriminately remember that there are plenty of people with money Bitcoin... @ 7k, down close to 70 % videos on P2P bittorrent etc effective!
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