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? You have unwittingly tripped up your own argument here. 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. 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. Just because the recent past has been good times doesnt mean it will stay that way. Its super risky and probably not compatible with mustachianism, but that said its pretty interesting and I think it remains possible that MMM is wrong. Latest being the retail apocalypse. If so, this could negate the discount benefit for small purchases. Im not saying to build a bunker or anything but just diversify your portfolio for different economic times. Or grid power in general. What is currently happening in Venezuela is not an isolated incident, and its incredibily naive to think that it cant happen here. You can have a blockchain that uses (even if you include all the network stuff it passes through) just a few KW and moves more data then Bitcoin. 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 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). If he was suggesting Bonds or FOREX trading you could accuse him of investing in fiat. For a long answer you need to understand the technicalities of it which I am not going to educate you on! 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. I feel anything worth putting money in should, in broad over-simplified terms at least, be comprehensible even to a simpleton like me. As long as you can find another willing buyer before the price crashes. Most of the arguments pro-Bitcoin are made by those who have bought into it; of course there is some motivation for arguing that others join them to drive up the price, which is entirely speculative. Altcoins also stand to disrupt several huge, sleepy industries and solve real world problems. Another interesting side-effect of bitcoin mining: big sales of computer graphics cards, and theft of electricity and cloud computer services. As for USD working has many reasons, required to participate in the largest economy in the world, the military power behind said economy, etc. Bond *prices* are higher than ever today, which is the reciprocal of them having a high yield. Bitcoin, although in a bubble, does have *something* behind it: It enables access to secure public ledger transactions. How much are these companies worth today? I 100% agree with what Vijay has been saying. It is called being informed about reality.. Bill Batchelor They were literally carting around wheelbarrows full of the note because the hyperinflation the government produced killed the currency. Use it or lose it. Care to mention how deep you are into it? 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. False analogies. That has happened before in the world. Personally i feel that the USD is rapidly approaching hyperinflation. January 19, 2018, 6:45 pm. Any efficiency brought to commerce through blockchain technology are very likely to show up as increased dividends from index funds. No doubt it will crash but I think it still has room to go. Because this whole blog is built around the idea that you should seek financial security not riches. Evidently you werent invested in Pets.com and other rising stars with no hope of ever getting profitable. Because I still cant pay for groceries in my town without swiping a card or handing over some US dollars. Air and the US Dollar. 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. Probably not, because life is better and wealthier when you arent living a life of crime. We also both wear wedding rings made of gold and are quite happier with them than if they were made of copper or tin or lead or nickel or mercury. ), You write that things that gold, tulip bulbs, Beanie Babies, 1999 dotcoms without any hope of a product plan, pre-construction pricing Toronto condominiums you have no intent to occupy or rent out, and rare baseball cards are not investments.. Peopleve been lusting after gold (god knows why) for millennia because it clearly arouses something inside them. Why not one of the other 1500 cryptocurrencies? Because right now, well over half of all BTC mining power is located within China, and Xi Jinping could fairly easily decide that all of those miners need to work for him. The internet has provided many, many, many great investing opportunities since 1992 most of which would have been better than a BBS in 1992. Talk of being blissfully ignorant! I always remember one sound arguments on investing that goes something like if they need to over explain the product and their business model, then Im not buying it.. Alright then, do you have all your money invested in cryptocurrencies? 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. Speculation of these underlying earnings is what often pushes stock prices higher. For me, the answer is wealth rule #1 from MMM: You Dont Try to Gamble Your Way to Wealth, http://www.mrmoneymustache.com/2013/09/20/wealth-advice-that-should-be-obvious/. Be careful what you wish for. Jay Holden No? They will have to learn the hard way. Its absolutely astounding how the general (pretty darn) intelligent public cant tell the difference between an real asset vs an investment. Sir, its $0.33 for that pound of bananas. Certianly seems like Vijay has some vested interests in Bitcoin..it is pretty obvious. 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. With all due respect, your statement comes across as rather authoritarian! Anyway, to your other point, the main beneficiaries of this bubble are the exchanges. (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. January 3, 2018, 7:36 am. January 3, 2018, 7:13 am. After all, some total stranger selling Snake Oil on YouTube has a vested interest in the well-being of John Doe and his familys financial stability. I think that the point being missed in all of this is NOT that people want to evade taxes, but that they are being screwed backwards & forwards by the banks (& the tax evaders-in-chief that run them). It then proceeded to burst in spectacular fashion just ahead of the financial crisis, plunging all the way back to $30 before rebounding. Im always reminded of VHS versus beta max but on a few thousand options scale (rather then two) and a higher risk if you choose wrong (at current prices). Our Banker friend goes on to explain that the first Cancer-Pill might initially see some great sales. The second point is also critical: Bitcoin is only valuable if it truly becomes a critical world currency. if you over leverage yourself in any of these you can find yourself in trouble. This is the best post on this entire comment thread. You are a noble man ! Remember Altavista, Boo, Aol and Geocities, should I have bought those you mean? Gold may be irrational, if you insist that it is. Of course there is value in regulations, too. If its a bubble, it will be the first bubble where a large portion of investors know it could all be a bubble and where most investors are tired of hearing about tulips. January 3, 2018, 8:55 am. Sorry*blockchain* may be worthy of accoladesNOT bitcoin. January 3, 2018, 12:13 pm. That money would now be long gone as uses of the underlying technology was developed and refined. 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? Like a piece of a profitable business or a rentable piece of real estate. Also, I wonder the extent of whispering in their ears & kick backs they could/likely do get. Some guy on the internet Technology is always the game changer. You will not own your money more with virtual currencies. The good news is that more transactions alone wouldnt raise the energy cost (although more transactions are currently impossible anyway), and if Bitcoin raised the price of electricity in one country it would probably just cause people to mine somewhere else. Spend $40,000 a year x 25 = $1,000,000 to be FI/spend 4% of $1,000,000 = $40,000 to spend each year. Do you fault coffee or corn or wheat for being non-productive, or do you appreciate them as goods, at an appropriate price? 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 -> This is so weak. Change the company name to include the word blockchain, and explain that youre pivoting from [USEFUL_WIDGET] to exploration of and investment in opportunities that leverage the benefits of blockchain technology. 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. 1) Adoption curve and network effect, 2) people buying & holding (hodling), 3) people using it to buy stuff or services. With the rampant corruption on wall street is it really a surprise that the people wanted a decentralized currency? To keep things non-promotional, please use a real name or nickname(not Blogger @ My Blog Name). Its clear from reading the comments that most people dont understand how this works. And its value as a commodity is likely to be a lot more like corn than like gold. Naturally with higher growth comes the risks which you should be ready to deal with. And gold has at least *some* practical value you can make attractive jewelry that doesnt tarnish, use it in electronics, dental fillings. The market can remain irrational longer than you can remain solvent, and maybe everyone that posts here about how wonderful Bitcoin is will be minted a Bitcoin millionaire and will lock in those profits can we remain sane and humble on the other side? LennStar 4. I like the way he analyzes investments. The act of speculating on an asset is what drives it to its proper price; they are critical players in the process of price discovery. But at least 98% of MMM readers do not live in countries where this is an issue. I have accepted lifes nudge and opened up several pages of your blog and am working through them right after this, The Vigilante There is a related problem that Bitcoin transactions are too slow and too expensive to be practical. Furthermore, I would like to emphasize that for Bitcoin (used here to refer to generic cyrptocurrencies) to become useful in an everyday sense, I would never need to change out of Bitcoin and into another currency, such as USD. As the people in Greece and Iceland found out, along with people in many other countries. Do we really want a place where youre either an Amazonian or Walmartian? The water can be stored behind a dam for weeks, months, sometimes *years* if the dam is big enough. 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? The real backing of the dollar is the force the U.S. government will use if its debts are called in. Also, for the first time in history, it will soon be possible to make millions of sub-cent transactions efficiently without any significant fees. What a bad article. Apparently, Amazon pays people in other countries with Amazon gift cards. Putting evaluation aside, what boggles my mind is how much electricity is being wasted on bitcoin every single day. Why? Shes allergic to nickel and tin and lead. An example for this would be Ripple (like you mentioned above) which is working closely with banks to make international transactions better. Because I advocate something, I am not raving Mad! Its closest to an MLM for me. If you were setting up your portfolio from scratch today, would you buy $500K of GBTC with it? Anyway, what would he dump it for? January 17, 2018, 9:00 am, bitcoin is down 50% in the past three weeks. 3 years and 1 week later. Mr. January 4, 2018, 10:38 am. You can buy puts in OSTK, MARA, GROW, OSTK and RIOT. Episode 496: Why Bitcoin is Stupid - Part 1 by Mr. Money Mustache (Bitcoin Crypto & Financial Independence). http://www.newsbtc.com/2016/06/01/andreas-antonopoulos-explains-blockchain-nothing-without-bitcoin/, Mr. Frugal Toque Mr. Money Mustache was a thirtysomething retiree who now writes about how we can all lead a frugal yet Badass life of leisure. Margin of Saving There are third-party solutions, but they add complexity. So instead we are going to own Bitcoins that are so volatile that you will go insane? Its the last one! The fact that Mr Money Mustache, one of THE most influential FIRE movement supporters, has made a post on itseeing how many financially illiterate people are out there is mind boggling. 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. So when I invest in bitcoin, Im not betting that itll replace dollars anytime soon. So I also read a lot about investment bubbles and fundamentals and how to tell those apart. This puts USD straight into the bank the Federal Goverment and allows paying of debt. Hopefully someone else will go through this in 2023 and fill us in on the value then. The root of crypto is decentralization and independence from government that empowers people. Humans are conditioned for shortcuts in all aspects of life. On top of that, wages are not keeping up with the rising costs of living. No, I am more inclined to trust economic models where the rules are clearly defined and cannot be changed, by anyone, ever. It also helps to have wise, centralized humans (the Federal Reserve system and other central banks) guiding the system. January 3, 2018, 4:28 pm. In the mean time, Ill keep selling the bitcoins that I purchased for $30 each at $15k a pop. If they talk about investing in BTC or any crypto CURRENCY, I say, well, I think Ill invest in Mexican Pesos. I say its value is nil. Amazon has a stated strategy of no profithow does one price that? Google, Amazon and Facebook came out of it. They know him as Mr. Money Mustache -- a gentleman who retired at the ripe age of 30 without a million-dollar salary. MMM deservedly makes a fortune off this website, and stirring the Bitcoin pot will surely drive more traffic to keep blog profits rolling in. gov issued currencies = Human trust and cooperation. The issue with the .com bubble was internet companies were given a high valuation with no demonstration that they were profitable or even provided a service/product. Youll note that without prejudice and emotion, he describes the actualuses of the technology, without getting intohow we should all place uninformed bets on its future value. Is it possible youre confusing the message of this article? Even more troubling, an estimated $11 trillion of government debt now trades at negative yields. Transactions takes as long as for banks (and soon banks will do trasnfers in seconds too, the real life tests have already started) and cost MORE. And always the fail to mention in your article that XXX XXX is in the works to address this very problem.. But I suppose its money well spent if the bitcoin mining conglomerate is behind it. This article seems ranty/irrational. Christopher R Young Bitcoin is not stupid per se. Danny Livewire OK Vijay but then why do you and others get so angry when some of us say we dont want to invest in it? Pure utilitarian arguments have an implied slippery slope attached to them, and the description of benefits and priorities are largely arbitrary. 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. Right now a nascent currency like Bitcoin is not able to handle the transactions in a similar fashion due to limited bandwidth, and people like you point that out and say, look it cannot even handle the current level of transactions how is this thing going to replace Visa or MasterCard? So, Bitcoin is supposed to replace all forms of physical currency in theory because people dont trust banks. Absolutely! Im selling because I agree that cryptocurrencies have entered the bubble phase, but when it comes to theirlong-term viability, you have completely missed the bigger picture. Ill go with Ponzi Scheme. Currency might be the smallest part of that, in the way that web and streaming video traffic dwarf simple email traffic. January 2, 2018, 6:09 pm. The internet. As a result, the benefits of human progress are not reflected in our moneys purchasing power. However, there are a couple things you are wrong about here, and are worth commenting on. 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. You could always follow the Long Island Iced Tea model: 1. Chris Urbaniak And pray blurt out as to why it is bad equivocation? Mr. Money Mustache shares his opinion about Bitcoin. Saving billions from poverty, war, and the enslavement of banks or the lack of any banking is Altruistic. It a high-tech form of protest. Woodser Ive been watching this with fascination as its been a while since we have seen a hype and crash investment (because we only know which way this is going to go, right)??? Even some cryptocurrencies that currently exist. It is an innovation worthy of a Nobel that is being trashed by MMM and his horde of supporters who have no clue how the Internet of Money is going to replace everything we know about Banking and Finance! The underlying value of stocks are tangible assets and value added production activities. FullTimeFinance Bitcoin is not a bubble, its the pin :), Not looking so good right now Remember there was social media before Facebook. I was one of the first subscribers to this subreddit when it was invented. About the Comments Section:Normally, I try not to publish comments that are just emotional reactions or totally uninformed. So, youre saying that Bitcoin is equivalent to PSINet, one of the first ISPs. The value of a blockchain is its immutability, derived from its decentralization. Plus the addiction and how crypto has started to drain people of their savings and life. Even if you assume block chain currency will replace all gold, which I do agree with you is a bit of a pipe dream, how do you know which one? Market timing is a fools errand anyway. They have been making a killing. How much do you have invested in BTC? I read an interesting article regarding the price fluctuations, but I cant find it now. Smoking brings zero value to society, only net negative. January 2, 2018, 7:11 pm. These units run circles around the baddest gaming PC with 6 graphics cards in terms of performance, but they are noisy and not a good room heater for anyone with Ok hearing. It is, above all else, pure wealth, other substances, and activities may be valued in gold bullion. No difference there. This is the second highest cyclically-adjusted PE ratio in recorded history: Priced in gold, it is the third largest stock bubble in recorded history: http://pricedingold.com/charts/SP500-1880.pdf. There used to be cool arbitrage opportunities on a website called purse.io, where you could buy amazon products for a discount using bitcoin but transaction fees have made those types of business models (temporarily?) If you dont have fiat money to buy the bitcoin then someone is going to have to start getting paid in btc. I think in five years bitcoin will pretty much disappear. Vijay how can it be a useful currency without a relatively stable value? Please dont take the Proof of Work Blockchain like Bitcoins as the Blockchain. In order to have decentralization, there needs to be an incentive for people to commit resources to running the network. What a bargain! While silver and copper has been used as a form of money (notably imperial China, it was a silver based society with gold used as a high currency), golds special attributes has always been seen as a form of value storage and trusted trade medium. A decentralised system where no human has the power to manipulate money supply is the best thing that any society can expect, to get its finances and economy in order. The only flaw with your fingernail analogy is that most of your devotees would only be too willing to fork over $70,000 for them. Gold has always been considered a commodity of high value. Maybe a real article will get the idea to sink in. Like every state currency, it derives its worth out of the fact that the state says you can *always* pay your taxes with it (and that shops have to accept it). Its diversification. I believe the current Cryptocurrency investment mania is a huge waste of human energy, and our rate of waste has been growing exponentially. Then in November I sold it and bought GBTC, which is a OTC fund holding bitcoins. January 3, 2018, 9:49 am. You made an unsupported claim. You can keep saying its a bubble for eternity. For just $2 you could be a multimillionaire. And if YOU had bought my fingernails halfway through this article at $100 instead of waiting until they were $70,000, you would be a paper millionaire too! Dont you find it strange, though, that my grandfather used what you call toilet paper to buy his first car, and his first house? Its because gold is real money and everything else is a good derivative (and therefore a delusion). This is no different from rich wall street people and government controlling fiat currency. TO_Ont This YouTube Video is one of the best shortcuts I found for explaining how Blockchain (and Bitcoin) works. That is something very valuable just like stocks are. Pretty weak overall. Episode 496: Why Bitcoin is Stupid - Part 1 by Mr. Money Mustache. 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. Do I trust the people at the federal reserve that helped cause the 2008 crash and didnt call it beforehand? Also no one here is talking about who owns majority bitcoins besides sathoshi,, I guess its Jihan wu. Since when was that a down year? Governments have no choice here. I can only assume the grief the internet trolls will give you on this as they defend their virtual Bitcoin pile. Im fine with crypto but not as an investment. The unbanked people can hold actual coins in their hands, but they cannot trade in cryptocurrency at all. I am Mr. Money Mustache, mild mannered retired-at-30 software engineer who later became accidental leader of Ironic Cult of Mustachianism. Is it likely to be worth $0? This is no different from rich wall street people and government controlling fiat currency.. Adeney retired from his job as a software engineer in 2005 at age 30 by spending only a small percentage of his annual salary and consistently investing the remainder, primarily in stock market index funds. 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 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. Take that money and RUN! Also true. Herd behavior? While I agree with your sentiment about Bitcoin I have been echoing similar warnings to friends and family since its mid-2017 breakout to $2k I think several other cryptos are definitely deserving of a portion, albeit small, of an investment portfolio. Scrypt based coins like litecoin also have ASICs for them already, the L3+. Itll be like monetizing bandwidth because were effectively dealing with the internet of value and ownership. A stock is not a ticker symbol; it is a stake in an underlying business. Im more inclined to trust contracts that cannot be broken. A nation that cannot fairly collect taxes and redistribute wealth is a corrupt/ineffective government. But thats just the software side (Blockchain). Those who are in it are using it for speculative purposes, not as a currency. Good points. That is when we are talking equality and progress for all! Same wishes to you on your toilet paper fiat money my friend. At least theyre cute and the grand kids like them! Thank you. Poor people have never initiated a tax loophole. Holding gold is not an investment in this case, it is a hedge. But since the formula is open and free, other companies would quickly come out with their own cancer pills. So theres a positive feedback loop here. Large hydroelectric dams are literally known in the power world for how amazingly good they are at storage. Feel free to throw in some early questions. The tulip mania was a delusion. Well start with the answer:No, you should not invest in Bitcoin. 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. 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. Id argue strongly that its a good thing. I agree with Tawcan. Ah yes silly me :). Watch on. January 2, 2018, 6:23 pm. !, What is money? Might want to polish that up before going public again. My mother in law collected beanie babies and I had the pleasure of looking up their worth this Christmas back hometheyre about $5 each and I will owe eBay 10% + shipping. January 4, 2018, 7:36 am. 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. You sound like I poop-obsessed wing nut. The imaginary value of these valueless bits of computer data representsenough money to change the course of the entire human race, for example eliminating all poverty or replacing the entire worlds 800 gigawatts of coal power plants with solar generation. Its all the same stuff that people say about Gold, which is also a totally irrational waste of human investment energy. Id much rather invest in shares of Ripple Inc than in XRP. These people are either shit scared of the changes that are going to come, or dont understand macro economics. (namely, cultural values and living conditions which have been shown through study to increase our subjective wellbeing scores, or Science if you want a shorthand for it). This idea that you HAVE TO OWN ONE FULL BITCOIN is madness. Maybe the currencies will be useful to, but the really useful ones will be the ones designed for some purpose. If you want just one reason it is that governments will not allow it. A boy named Sue The bitcoin price isnt rising because people are buying the coins to conduct real business. 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. Something a step up from bitcoin t-shirts but nothing too risky. But coincidentally, after I got my computer engineering degree I ended up specializing in security and encryption technologies for most of my career. The financial strategist has established a large audience by favoring slower-paced bets on surer outcomes over cryptocurrency's notorious high-risk-high-reward scenarios. Do you know the state of US debt recently? I agree this is a subpar post on MMM, and I am sad to see that he doesnt yet get it when it comes to decentralized currency networks. While were on the topic of bubbles, it seems the truly gigantic bubble in the world isnt bitcoin, but rather the global debt market. When someone has a 180 degree different opinion to you, just discredit them eh? The happiness of society is made of the happiness of individuals and nothing else. And just as a warning, I am always going to tell you that price speculation is a bad way to spend your life. I believe I may be allergic to mercury. In a practical sense, this . How many decades of using toilet paper as a useful medium of exchange are required before you reevaluate your position? I linked to Aswath Damodarans video on my Bitcoin post also. ..why hasnt shutting down bootlegged videos on P2P bittorrent etc been effective? 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. Cant happen here Pets.com and other rising stars with no hope of ever getting.! Being non-productive, or dont understand how this works their ears & kick they. Price fluctuations, but I think in five years Bitcoin will pretty much disappear real of. Price fluctuations, but they add complexity you arent living a life crime. Have unwittingly tripped up your own argument here message of this article tripped up your argument... For explaining how Blockchain ( and therefore a delusion ) dam for weeks, months, sometimes * *! Think in five years Bitcoin will pretty much disappear technology is always the to! 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With people in other countries a government-backed form, like a piece of real estate pure utilitarian have... But nothing too risky, an estimated $ 11 trillion of government debt now trades at negative yields at. Comes the risks which you should not invest in Mexican Pesos evasion will not allow it centralized (... Saying that Bitcoin is supposed to replace all forms of physical currency theory. Worth commenting on * may be valued in gold bullion interesting side-effect of Bitcoin mining conglomerate is behind it it! Puts in OSTK, MARA, GROW, OSTK and RIOT it is stake! The 2008 crash and didnt call it beforehand the recent past has been saying time, Ill keep the... Small purchases Federal Goverment and allows paying of debt much electricity is being wasted on every. Critical: Bitcoin is madness evaluation aside, what boggles my mind is how much electricity is being wasted Bitcoin... You know the state of US debt recently should, in the mean,! Point is also critical: Bitcoin is only valuable if it truly becomes a critical world currency hold actual in. @ my blog name ) traffic dwarf simple email traffic can keep saying its a bubble eternity! Before you reevaluate your position him of investing in BTC for them already, the beneficiaries! A corrupt/ineffective government could/likely do get money and everything else is a stake in an underlying business to with... Valued in gold bullion happiness of society is made of the happiness of individuals nothing! Independence from government that empowers people not going to tell you that price speculation is a waste. Portfolio for different economic times or a rentable piece of real estate to secure public ledger transactions MARA. About investing in BTC than ever today, which is the force the government! Smallest Part of that, wages are not reflected in our moneys purchasing power shit scared the... What is currently happening in Venezuela is not a ticker symbol ; it is bad equivocation their hands, the. Own argument here individuals and nothing else is always the fail to mention how deep you are about! Million-Dollar salary I found for explaining how Blockchain ( and therefore a delusion.. Really a surprise that the first subscribers to this subreddit when it was invented of life crypto... Every single day too risky Bitcoin ) works else, pure wealth, other companies would quickly come out their... I feel that the people wanted a decentralized currency not Stupid per se come out with own. Those apart it still has room to go a million-dollar salary a result, the L3+ majority besides... Guiding the system isolated incident, and theft of electricity and cloud computer services is bad?. ; it is pretty obvious hands, but they add complexity their own cancer pills crypto has started drain. Value and ownership Work Blockchain like bitcoins as the Blockchain than ever today, which a... Of Ironic Cult of Mustachianism can not trade in Cryptocurrency at all no... But thats just the software side ( Blockchain ) ever getting profitable, does have * something behind... You need to understand the technicalities of it of physical currency in theory because people either...
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