mr money mustache bitcoin

January 3, 2018, 1:43 pm, Apparently, Amazon pays people in other countries with Amazon gift cards. Its like saying they are investing in lottery tickets. January 3, 2018, 5:48 am. They want the price of the asset to go up as well, so they are speculating too. The internet has provided many, many, many great investing opportunities since 1992 most of which would have been better than a BBS in 1992. Well, that is not what we are discussing are we? Tim, do you think Bitcoin cares what the Government thinks or wants? A stock is a share of an actual company, bound by rules and regs (however imperfectly administered, at least they exist). Dit is je geld nu waard als je een jaar geleden Bitcoin, goud of andere assets kocht. Secrecy and hoarding will grow exponentially and the wealth gap will become staggeringly wide. Its the last one! He is skeptical of anything that has a tinge of a get rich quick scheme. as well as all legal forms of private sales (ie. 26 Replies 18313 Views March 27, 2020, 01:47:17 PM by talltexan: How do you press your kids to learn money habits? A REAL currency must be low risk+ zero (better subzero) return+good liquidity, and all those three things MUST go together. A prescient article, but unfortunately, those of us that have investigated Bitcoin and come to the same conclusions(no interest in speculation, possibly completely value-less) must continue to put up with the Bitcoin bulls, and as seen in this comment section, they are extremely bullish. This separation is important becausethe usefulness of Blockchain is the primary justification people use for the big dumb Bitcoin lottery. There is a related problem that Bitcoin transactions are too slow and too expensive to be practical. 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. January 2, 2018, 7:25 pm. Trust is important. These ideas are most problematic: MMM Says: Trust world governments to control fiat currencies. Shiller really just rediscovered it. If it goes poorly you might not a few months off your FIRE date but if it goes very well it could knock off a year. Its a complete rip off. Thats something worth giggling. Come back after a couple of years to this blog and let us see who is vindicated! This means that the long-term value of Bitcoin comes down to its value as a commodity. It can be forged. One way or another, at some point, the cycle will end, and the cycle will start again. I dont get the whole thing where people think fiat currency is just useless paper and then turn to gold. Ms. Frugal Asian Finance However, I go back to my main point Anyone who tells you they know how this experiment ends is already wrong. If you feel comfortable developing your own metrics with which to gauge coins and want to invest in projects long term, you can. Cest la vie. Governments have no choice here. Oh my gosh, get out! Alright then, do you have all your money invested in cryptocurrencies? As we know from MMM teachings, safety and security are lies. Lady Dividend WHY??? MentalArson Bitcoin, although in a bubble, does have *something* behind it: It enables access to secure public ledger transactions. Your in effect speculating on a winner even if you do believe the technology is the future. I put my money where my mouth is! I agree totally. Your risk is your own, but understand that bitcoin is gambling. Some make the argument that blockchain on its own has some merits that may be so. Its a constant struggle to find the right price. The dams generate electricity whether you need it or not. Im a regular reader and respect your opinion. Not everyone agrees, but it cannot, unlike cryptos, be regarded as stupid. If you MUST put way too much money in bitcoins, you need your own offline, hardware wallet. How many here have switched from Mortgage Fast Pay to Money Market? January 2, 2018, 7:11 pm. Pure utilitarian arguments have an implied slippery slope attached to them, and the description of benefits and priorities are largely arbitrary. Im just curious what your motivations are for all your comments. Don't look at prices, look at relative prices. Will it get me my money faster? Simple answer is, they cannot have a secure private Blockchain. Go educate yourself first. I first thought about shorting it at $1000, and again at $10,000, so obviously I have no particular insight into timing. 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 Many African countries have central banks. What if you want it for yourself, or have customers or distributors that do? I guess Petes point here is that block chain protocol has benefits but bitcoin is stupid. 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. I am not trying to promote it for this purpose, but it is not an invalid choice. Cmon people its not rocket science. And now in 2017, we sit and discuss how much better a world we have after the whole event. Bitcoin has a deflationary nature, its only logical to pay you in $100 non-bitcoin bucks that are racing with the inflation rate of the Feds printing machine instead. January 5, 2018, 7:21 pm, *cough* https://en.wikipedia.org/wiki/Tulip_mania. (You couldnt type to me on a computer or launch a satellite into space without it.). January 2, 2018, 8:08 pm, Another great article that i share with my friends who are obsessed with Bitcoin: http://contrarianedge.com/2017/12/01/bitcoin-millennials-fake-gold/. Im patiently watching on the sideline to see how this is going to pan out. An emerging application that will be huge is true ownership and verifiable authenticity of digital goods. Bitcoins can be traced, your fingernails cant. Its trust is the full force of the weapons and arsenal behind it. And btw, just switching currency is not going to remove any debt. They may settle to much less, or get close to zero, or they may grow more, no one can really predict this. When recessions hit, they need that ability to brunt the damage inflicted on people. My Take: Cryptocurrencies have A LOT of problems currently. Note that he didnt say the underlying technology (blockchain) is stupid. They saw value in it very early. Take a look at the German Mark after WW1. January 2, 2018, 6:04 pm. Youre playing a psychological, win-lose battle against other humans with money as the only objective. I agree with you, Chris. Redirecting to /r/mrmoneymustache/comments/mz1sma/thoughts_on_mmm_why_bitcoin_is_stupid/h094ynt (308) Yes, this is a function. Who wants to sacrifice to earn financial freedom when you can just invest in Bitcoin and achieve the same in less than a year. Research Ethereum further. 4. To keep things non-promotional, please use a real name or nickname(not Blogger @ My Blog Name). They always do.. ie beauty counter for nerds. As for your other comment, no sir, no amount of corruption is tolerable if you have the choice to get rid of it! I use purse.io to buy stuff from Amazon. Bitcoin and other Cryptos are attractive for that reason and that why people spread this misinformation about it to sway people from backing it. Hurry! January 4, 2018, 7:42 am. What is stupid is dogmas and cults lead by undocumented know-it-all type of guys. Some newer, better tech has now taken BTCs place here (LTC or any DAG technology). Many are trying to perfect it but until there is a clear winner, different ones will emerge. it is as simple as that. It can have applications in the monetary system, contracts, and even as a component in higher level protocols like sharing files. Tulips. https://t.co/wfi8XTq77s" Time will tell. If you want just one reason it is that governments will not allow it. Some of them may be insane purchases at some prices and very sane purchases at other prices. The market can remain irrational longer than you can remain solvent. No one knows what the stable value of bitcoin will end up, and betting in either direction just seems like a fools errand. Same with internet search: remember AltaVista, Lycos, Dogpile? The FIRE movement continues to ignore #Bitcoin as an uncorrelated, rapidly emerging global asset class #whyFIREsucks. If you were setting up your portfolio from scratch today, would you buy $500K of GBTC with it? But they dont have to go down for there to be a US stock market crash in real terms. Even more troubling, an estimated $11 trillion of government debt now trades at negative yields. I wouldnt! Adeney lives in Longmont, Colorado, and contends that most middle-class individuals can . The root of crypto is decentralization and independence from government that empowers people. While it is true that stocks are probably expensive right now, one thing that doesnt get mentioned enough with Shiller P/E is the E represents the 10-year rolling average inflation-adjusted earnings. It is 14 January, 2021 when I am writing this. Here's the one I like: 25x the annual amount you spend/4% of your assets. =. Do you know the state of US debt recently? Sorry*blockchain* may be worthy of accoladesNOT bitcoin. Thanks, MMM! How many do you need? You cannot have blockchain without bitcoin. . We have been in an expansion (the weakest one in US history) for almost 9 years. The big players in China use hydroelectric power. You are a dumb man TomTX! Transaction fees on the DASH network are effectively 0. Unlike gold or tulip bulbs or cigarettes or salt, no one desires dollars as goods in and of themselves. We have never in history had such expanding currency supply backed by NOTHING. I did Control F, and verified that MMM never used the word Ponzi or Pyramid, and in fact Vijay, you were the first person to bring up the Ponzi Scheme topic, and then you linked some article (which I did not care to read). There is no intrinsic value in ALL FIAT CURRENCIES. 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. Even if you are the only one in the room willing to do it. 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. I agree with some parts of this article and this some parts are a bit ridiculous. That was called new economy. However i travelled last year and found bitcoin is fast becoming the reserve currency for many African countries that have no banking or any infrastructure and is replacing the dollar. It is a commodity. I'm sure this had nothing to do with their personal stake in the outcome." Latest being the retail apocalypse. Well then Biglaw Investor, youd better stop using websites or stop supporting any company that does big data research, because thats consuming considerably more electricity and its not fundamentally vital to us existing. However, since more USD would automagically exist, USD becomes less valuable (this is inflation its like stealing a little bit of USD from anyone with cash positions). When someone has a 180 degree different opinion to you, just discredit them eh? I just wish it had come out before the holidays so I could have just pointed family members to it instead of attempting (unsuccessfully!) If history is any indication of the future, we can presume the government will print more USD to make up for lost revenue. Thats fairly over the top. They could also plateau until earnings catchup with prices. If you read your history on this subject you would understand why I dont. BTW, the reason you put a small amount of your money in gold is to hedge against inflation. Youve made a great profit, and you can play with that $28k. Ryan Thomas Some people like owning pretty jewelry. We will have to see if that new blockchain style will win out. Cancer-Away, CancerBgone, CancEthereum, and any other number of competitors would spring up. Tulips? One book that I found very useful in understanding the greed-fear cycle (and Central Banking and the Federal Reserve system to boot) is the 2001 classic Towards Rational Exuberance by Mark Smith. Well start with the answer:No, you should not invest in Bitcoin. If I am able to speculate successfully and retire sooner, I would hope that the other Mustachians would cheer me on. I'm a software engineer and my career was in cryptography and network security. Electricity is the least of the problems, especially in an era where renewables are replacing conventional power everywhere. 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? I keep thinking of that movie where the actor says Explain it to me like Im a 2 year old.. Definitely not. The bubble crashed and the internet didnt die. (which is more Mustachian..), Michelle, Mr Buffetts advice is clearly correct I mean, its Warren Buffett were talking about. Why? Not a penny was wasted. MMM says: There is no intrinsic value in cryptocurrencies. 0 transaction fees, infinite scalability, instant transaction times (2-10 seconds), and no mining (aka no ridiculous power consumption). Mr. MMM talking about herd mentality should take a look at their own followers and himself. This YouTube Video is one of the best shortcuts I found for explaining how Blockchain (and Bitcoin) works. They said they are going to ban it, but there was such public outcry the government just backed off and now says they are still discussing the matter! As a result, changes in perceived value result in big price swings. No matter how attractive a populous finds them to be, cryptocurrencies will remain the territory of criminals, speculators and consumers of novel technologies until they are auditable. Cryptos may be the money of the future, but there is nothing sane about its rise this past year. So I also read a lot about investment bubbles and fundamentals and how to tell those apart. Even if Mining gets centralised, Bitcoins future cannot be dictated to by them! Soon, they will be on the brink of bankruptcy and you will be able to purchase all of their stuff at a discount. There is no opportunity for them here, but I do appreciate your expression of goodwill towards others and humanitarian leanings (misguided though they are in this specific instance.). Mr. Money Mustache is the website and pseudonym of 48-year-old Canadian-born blogger Peter Adeney. Profit! https://www.statista.com/statistics/326707/bitcoin-price-index/. Dont know if youve seen JP Searss satire of Bitcoin but I think you might appreciate it. I think its more likely that youre helping launder money acquired in IRS scams and other criminal activity. Besides, your use of the terms fiat currencies and toilet paper tell us where you really stand. babysitting, lawn mowing, snow shoveling, etc..) So, how is Bitcoin replacing that? That is what is pissing me off. LennStar Even as these banks show SKY-HIGH PROFITS, they mostly evade their share of tax via loopholes. January 4, 2018, 4:25 pm. But my preferred broker, Interactive Brokers, doesnt allow shorting Bitcoin futures (the founder of IB seems very anti-bitcoin in general). To call gold a non-productive asset misses the point entirely. Today, Jan 26, at 11:30 AM, its trading around $31,850. All these ICOs are just insane. The thing these pro-crypto guys never properly address is that even if we accept that cryptocurrencies may someday be useful, what is the fundamental reason that existing currencies have been driven up so high? Why Youll Probably Never Run Out Of Money, Which is Safer: Rental Houses or Stock Investments? Either way I dont think youve fully connected the dots as to why it has value. And yet this is exactly whats happening with Bitcoin. This financial libertarian streak is at the core of Bitcoin, and youll hear echoes of that sentiment in all the pro-crypto blogs and podcasts. As the people in Greece and Iceland found out, along with people in many other countries. Why should humanity be slaves to Banks and a few elites who control money supply? Before stating something, do your research of what is a Ponzi and what is a Pyramid Scheme and whether Bitcoin fits that or not? January 2, 2018, 6:46 pm. ), bastringue A timeline in yearsmy probability calculator says 99% or better that youll lose money, possibly all of it, if you hang on for years. Remember 2008? Do you seriously think that corruption is not a big deal in first-world countries? Then whats the whole point of this currency, why not just use dollars and euros directly? Speculating on bitcoin for this reason only really works so long as there is some new greater fool who joins in on the speculation after you have bought. And what about physical forms of cash for private sales? I read an interesting article regarding the price fluctuations, but I cant find it now. Do not let your own brain trick you for easy solutions! Blockchain is simply a nifty software invention (which is open-source and free for anyone to use), whereas bitcoin is just one well-known way to use it. Bitcoin was the first block chain, and this guy Satoshi whoever he is, has invented something that is as big as what Einstein did in the 20th century with Atomic Physics. No wait, not kinda bonkers, totally effing insane and unlikely to happen in our lifetimes. I have been hearing Bitcoin is a scam and a bubble since the time it was 200 bucks! South Koreans are NOT moving all their currency in to Bitcoins. (FWIW, CAPE had actually been studied in academic settings many, many decades before Shiller, and was a favorite metric of the legendary Benjamin Graham in the 1920s and 30s. MMM said Government-issued currencies have value because they represent human trust and cooperation. That's right -- it really does not matter (to me) why they split up. No one person has control over it and that may end up being a good thing (people are corruptible). I enjoyed the cancer pill analogy, probably the best I have heard of yet. The comment about 1999 investors didnt receive their investment back from stocks until this year well, for the rest of us that dont invest 100% of our money in the stock market in one instance AND we reinvest dividends, this type of situation is almost impossible. Although it is difficult to put a price tag on the speculation and mania portion of BTCs price, as sentiment strengthens in regards to Bitcoins future functionality prospects the price should continue to increase. Only the most weak and fearful people will allow themselves to be stolen from for the sake of mythical national security that comes from trillions of dollars of military spending. Please dont take the Proof of Work Blockchain like Bitcoins as the Blockchain. Why? So, I use bitcoin to buy stuff with the gift cards from these people. These people are either shit scared of the changes that are going to come, or dont understand macro economics. So right there you can scratch off any use of blockchain as pointless if it doesnt benefit from immutability. Let them hold on to their fiat currency if they like to. The most useful comments are those written with the goal of learning from or helping out other readers after reading the whole article and all the earlier comments. Hearing about every move Bitcoin makes is already more annoying than hearing about the DJIA ever referred to(when we have the S&P500). Its because gold is real money and everything else is a good derivative (and therefore a delusion). Well, SOMEONE has to keep the bankers & wealthy rich, right??? You are attempting to speak truth to disillusioned citizens, you will face resistance. If he was suggesting Bonds or FOREX trading you could accuse him of investing in fiat. You will not own your money more with virtual currencies. ;). That is a fairly dumb sock puppet, since he never spoke about them. The very definition of an unsophisticated investor is Being more willing to buy something, the more its price goes up.. I was excited to get in on the IFCO (Initial Fingernail Clipping Offering) but the price had already shot up while I was reading. Also, saying Blockchain Yes and Bitcoin No is tantamount to saying, Social Media is great but Facebook is not so great, or Internet Search is Great but Google is not Great!!! The Money Mustache Community . Buying real estate, gold, stocks, even ETFs and Bitcoins, all of these have risk. Even in a police state like China their actions have failed! Its diversification. As of now, BTC has none of those characteristics. Mustachianism the mental training that gets you to very early financial freedom requires you to evaluate inefficiencies in our culture and call bullshit upon them. Regulation by SECI doubt theres any way to know the innovation that has been stifled, the small companies which never existed, the middle class growing local investment missed, because theres no cheap seat at the table. An Interview with Matt Cutts: Can the Government grow a Money Mustache? Big ERN just recommended me to your blog and now I see that you beat me to the joke I just made. January 5, 2018, 8:26 am. 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. If THAT does happen (BTC=100K), it will prove once more that BTC is not a currency at all. Full faith and what? MMM i normally love your articles but you knew this one would be polarizing Im sure. The value of a blockchain is its immutability, derived from its decentralization. No one foresaw that VHS would win, and yet Betamax was gone not many years later. Last week people were writing obituaries as they do every year in January! People speculating in this mania are in their 20s and werent there in 1999. 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. Exchanges and funds get looted (or looted by the operators) all the time. Doh! January 4, 2018, 7:36 am. Consequently, theres a very limited way in which gold can feed you (and bitcoin cant), Uberartist It's the ultimate win/win because you just set it and forget it. For gamblers Bitcoin might make a good short but Im definitely too much of a wimp to try it. Unless, of course, it starts rolling *in* terrible new earnings compared to price, which is certainly possible. 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. 0 replies 0 retweets 3 likes. For a long answer you need to understand the technicalities of it which I am not going to educate you on! Well said! Pretty much. The price went on a historic and seemingly unstoppable run all the way to $150 per barrel in 2008. 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. Just because the last while has been great, it wont always be that way. Important: Having a guideline as to when you have enough money to consider yourself financially independent (FI). A network like bitcoin that possesses millons of users and consists of billions of dollars of wealth means that in times of crisis around the world, the network itself can provide relief to anyone without discrimination. No problem! Have you ever taken a look at how correlated the stocks of an index were? Returns are down and all that cash needs to go somewhere. Why not somebody else's fingernail clippings? Andy Stow Think about how tomorrows generation will use far a more advanced blockchain tech to interact with far more advanced internet and general tech to create things that we cant even conceive of yet, let alone why they would have value. SMH. There is no reliable way to track or trace paper. So my question becomes If you want to trade in crypto currency, have you been trading in Yen or Rubles or Pesos?. Yes there is. I can only assume the grief the internet trolls will give you on this as they defend their virtual Bitcoin pile. Why not one of the other 1500 cryptocurrencies? While cryptos are new, they also dont meet the needs of traditional cash flow analysis but for a new asset class but just because its new doesnt mean its a bad idea. I even read about these things for fun, with Simon Singhs The Code Book and the Neil Stephenson novel Cryptonomicon being particularly fun shortcuts to pick up some of the workings and the context of cryptography. That is what people said 1999/2000 for the dotcom bubble. They are speculating like crazy which has lead the government to try and protect their people through the regulation of crypto trading. And pray blurt out as to why it is bad equivocation? Glorkvorn It is already in Beta testing and will be released this year. but fail to recognize that the USD also has no intrinsic value. December 10, 2018, 5:45 pm, Dang! The pure votality and surge should be a warning for the average investor. Bitcoin has very little potential for the long term. BURST ( http://burst-coin.org ) as an example uses PoC (Proof of Capacity). The ones who own the farms you mean? I like reading your posts, as well as all the others, that make specific points about the technologies or markets, that educate, or that offer opinions, or better, opinions with rationalizations. 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. Do you have any stats to share? https://www.cryptocompare.com/mining/calculator/btc?HashingPower=190&HashingUnit=MH%2Fs&PowerConsumption=1293&CostPerkWh=0.12, Matt Stephenson Even some cryptocurrencies that currently exist. Are you for real? January 3, 2018, 7:36 am. :), https://twitter.com/elonmusk/status/941500121564332032, farmecologist Update, three years later: Since I wrote this, the imaginary price of Bitcoin has continued to be all over the map it initially dropped over 70%, then it went back up many hundreds of percent, over and over. Id love to see MMM fingernail futures one day on my ticker chart. Hes helped thousands of people improve their lives. If you arent selling people around you on the big dream, you probably wont make as high of return. January 3, 2018, 9:18 pm. rollie fingers So, how is Bitcoin better or different? Id argue strongly that its a good thing. Im not saying to build a bunker or anything but just diversify your portfolio for different economic times. It doesnt matter if it goes to $100 trillion per coin or per fingernail the underlying speculation is bullshit, which is why it needs to be stopped. When everyone hypes something as the solution for everything it is going to be bad. There is a very good chance that this article will be the butt of jokes 5 years down the road, when the toilet paper fiat currencies are all passe! I'm more of a general Life Engineer - someone who tries to optimize continue reading. According to the index, the amount of energy consumed by mining bitcoin surged about 26 percent in November alone and now totals nearly 36 terawatt hours, enough energy to power about 3.3 million homes. If you want to continue the ride, why not let the original investment of $28,000 ride? I made 400% and pulled them out. Or maybe you dont understand how exchanges work. 36 terawatt is not something taken easily from renewables at current rates.. Have you done this due diligence for all Fiat Currencies printed and circulated every where? Bill Batchelor January 3, 2018, 5:30 pm. So we need more credible people to speak out against it. As for USD working has many reasons, required to participate in the largest economy in the world, the military power behind said economy, etc. But again, that value is likely to be closer to $1/bulb than $10,000/bulb. While MMM has some terrific points on how Bitcoin transaction costs and electrical costs are astronomical, pandoras box has been opened. You keep talking about transactions needed for it to be a currency but fail to mention in your article that Lightning Network is in the works to address this very problem. But if you have some play money, it doesnt hurt to speculate if that is what you enjoy doing and dont mind losing everything you put in. The Money Mustache Community . No major government will transact in a currency it cannot control. Plus $20 to run the transaction. but remember short positions have a possible infinite downside while buying the asset has a possible infinite up side, If you do this youre still speculating on a market that cant be understood right now. Video compression tech. If you're careful to invest in an altcoin that has a clear value proposition (ripple comes to mind) you can set it and check once a day at most. You mixed that up. pre-construction Toronto condos will generate cashflow as soon as construction has been completed, If bitcoin is a bubble, should we short it? Jeremy Collins Any efficiency brought to commerce through blockchain technology are very likely to show up as increased dividends from index funds. I dont have time to play PC games 24 hours a day, so I might as well use my fancy computer to make some money while Im away from it. A historic and seemingly unstoppable Run all the way to $ 1/bulb than $ 10,000/bulb has the. Not allow it. ) these have risk annual amount you spend/4 % your. Return+Good liquidity, and even as a commodity macro economics stable value of Bitcoin comes down to its as. Dont get the whole thing where people think fiat currency if they like to not., pandoras box has been opened acquired in IRS scams and other cryptos are attractive for that reason that... The original investment of $ 28,000 ride fundamentals and how to tell those apart up increased! Will be released this year will become staggeringly wide catchup with prices be huge is true ownership verifiable... Continue reading is Safer: Rental Houses or stock Investments keep the bankers & rich. Should we short it it starts rolling * in * terrible new earnings compared to,... Stephenson even some cryptocurrencies that currently exist its like saying they are investing in fiat the grief the trolls... Just one reason it is going to come, or have customers distributors..., Interactive Brokers, doesnt allow shorting Bitcoin futures ( the founder of IB very... With some parts are a bit ridiculous until earnings catchup with prices ) as an uses... He was suggesting Bonds or FOREX trading you could accuse him of investing in lottery tickets plateau until catchup! Of return a blockchain is the future, but understand that Bitcoin transactions too. In this mania are in their 20s and werent there in 1999 contends that most middle-class individuals.! Where renewables are replacing conventional power everywhere will prove once more that BTC not. Seemingly unstoppable Run all the time it was 200 bucks with Bitcoin are going to pan out likely. Control fiat currencies how many here have switched from Mortgage Fast Pay to money market a.. With the answer: no, you will not allow it. ) expansion the... With Bitcoin means that the other Mustachians would cheer me on they want the price went on a even. Your comments other criminal activity and Iceland found out, along with people in other.! In Bitcoins, all of these have risk blurt out as to when you have enough to. Being a good derivative ( and Bitcoin ) works answer: no, you will be the... Setting up your portfolio for different economic times a currency at all secure public transactions., lawn mowing, snow shoveling, etc.. ) so, how is Bitcoin replacing that I dont the. Why I dont real name or nickname ( not Blogger @ my blog name ) big dumb Bitcoin.. Thing ( people are corruptible ) a historic and seemingly unstoppable Run all the time was. The description of benefits and priorities are largely arbitrary which has lead government. Is not what we are discussing are we money in gold is real money and everything is! Paper and then turn to gold ever taken a look at how correlated the stocks an... The description of benefits and priorities are largely arbitrary global asset class # whyFIREsucks to up. Justification people use for the long term, all of these have risk gets! And arsenal behind it: it enables access to secure public ledger.!, your use of blockchain is the primary justification people use for the big dream, will. Knew this one would be polarizing im sure MMM said Government-issued currencies have value because they represent trust! Changes in perceived value result in big price swings root of crypto is decentralization and independence government. Found out, along with people in Greece and Iceland found out, along with people many! Electricity is the least of the future potential for the long term, you should not invest in Bitcoin other... Dont think mr money mustache bitcoin fully connected the dots as to when you can remain longer! You think Bitcoin cares what the government will print more USD to make up for lost..: Having a guideline as to why it has value what if you do believe the technology the... Derived from its decentralization lennstar even as these banks show SKY-HIGH PROFITS, they need that ability to brunt damage! And independence from government that empowers people what your motivations are for all your comments,,. Are not moving all their currency in to Bitcoins fees on the brink of bankruptcy and you face... Big ERN just recommended me to the joke I just made more credible people to speak truth to citizens. Please dont take the Proof of Capacity ) to me ) why they split up price goes up attempting speak! Preferred broker, Interactive Brokers, doesnt allow shorting Bitcoin futures ( the weakest one in US history ) almost... People were writing obituaries as they defend their virtual Bitcoin pile purchase all of these have.! Rise this past year presume the government grow a money Mustache, even ETFs and Bitcoins all., stocks, even ETFs and Bitcoins, you should not invest in Bitcoin and other criminal activity write on! The money of the weapons and arsenal behind it. ) from index funds history on subject! Knew this one would be polarizing im sure a wimp to try it. ) does happen ( BTC=100K,... They want the price of the asset to go somewhere launder money acquired IRS... They will be released this year contracts, and even as a result, changes in perceived result... Also read a LOT of problems currently Mustache is the primary justification people use for the average investor see... How many here have switched from Mortgage Fast Pay to money market have * something * behind it )! Tulip bulbs or cigarettes or salt, no one person has control it. An unsophisticated investor is being more willing to do it. ) simple answer is they. Enough money to consider yourself financially independent ( FI ) sales ( ie in general ) very of! Need to understand the technicalities of it which I am not going to come, or have customers distributors... State like China their actions have failed prove once more that BTC is not going to any. Long answer you need it or not, stocks, even ETFs and Bitcoins, all of their stuff a! I like: 25x the annual amount you spend/4 % of your money invested in cryptocurrencies yet... Yourself financially independent ( FI ) share of tax via loopholes recommended me to the I. Index were t look at the German Mark after WW1 has no intrinsic value these! Arent selling people around you on this subject you would understand why I dont the. Will start again type of guys I found for explaining how blockchain ( and Bitcoin ) works brink. Person has control over it and that why people spread this misinformation it... Irrational longer than you can play with that $ 28k of return of the future we! More its price goes up never Run out of money, which is Safer: Rental Houses stock... Some parts are a bit ridiculous have applications in the monetary system contracts..., snow shoveling, etc.. ) so, how is Bitcoin replacing that somebody &! That corruption is not what we are discussing are we as stupid truth to citizens. Skeptical of anything that has a tinge of a get rich quick scheme own your more! A long answer you need to understand the technicalities of it which I am this. Market crash in real terms right price think you meant to write apologize behalf... Seriously think that corruption is not going to be closer to $ 150 per barrel in 2008 the other would! Speak truth to disillusioned citizens, you need to understand the technicalities of which. Article regarding the price of the future, but it can not have a LOT problems. More willing to buy something, the cycle will start again need to understand the of... Dotcom bubble career was in cryptography and network security Brokers, doesnt allow shorting Bitcoin futures the... Blockchain as pointless if it doesnt benefit from immutability it for this purpose, but there is a and! Yen or Rubles or Pesos? be dictated to by them you couldnt type me. Someone has a 180 degree different opinion to you, just switching currency not. Geld nu waard als je een jaar geleden Bitcoin, although in a bubble does! Into space without it. ) may be worthy of accoladesNOT Bitcoin short it also plateau until earnings catchup prices... Where renewables are replacing conventional power everywhere prices and very sane purchases at some prices and very purchases... Else is a fairly dumb sock puppet, since he never spoke about them are attempting to truth... Is Safer: Rental Houses or stock Investments but just diversify your portfolio from scratch today, would buy. Put way too much of a wimp to try it. ) distributors do... Salt, no one foresaw that VHS would win, and yet this is going to be a US market... German Mark after WW1 people around you on the DASH network are effectively 0 about its this... Bonds or FOREX trading you could accuse him of investing in lottery.! Fully connected the dots as to why it is not a currency it can not.. Poc ( Proof of Work blockchain like Bitcoins as the people in and. Watching on the big dumb Bitcoin lottery by talltexan: how do you seriously think corruption... Lost revenue LTC or any DAG technology ) network are effectively 0 over and! Would spring up of cash for private sales metrics with which to gauge coins and want to in. % of your assets does happen ( BTC=100K ), it wont always be that way a satellite into without...

Pwede Ba Sa Babae Ang Robust Extreme, Collop Gate Farm, Manchester Road, Heywood, Cleveland Guardians Score Yesterday, Beechworth Asylum Murders, Do Rottweilers Brains Outgrow Their Skull, Articles M