mr money mustache bitcoin

January 2, 2018, 5:54 pm. 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. Yes, it is insane to value something highly solely because other people might value it. This means that the long-term value of Bitcoin comes down to its value as a commodity. 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. Long time reader, first time commenter (ha). On the other hand valuation of bitcoin has nothing to do with merits like this.What I dont understand is how spinning off a crypto currency XRP plays a role is this (please shed some light if you can). When contracts cannot be broken nobody needs to oversee contracts. In this way, dollars are the ultimate speculation. Please, Alex Anton is not shouting. As for spending your Bitcoin, I digress. Were human, so human. MentalArson LennStar 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. Well start with the answer:No, you should not invest in Bitcoin. Gold and tulips and coffee and salt and any other good at a fair price, however, are an entirely different story. We will see you on the other side of the crash. Here's my direct negative experience with Pete, Mr. Money Mustache that may give insight into the MMM divorce. I understand the concept of having an idea, building business around it with angel investors and later going public where you and I can invest but I dont understand investing in something like XRP. Don't look at prices, look at relative prices. 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. It has a track record though ill give you that. So I also read a lot about investment bubbles and fundamentals and how to tell those apart. So, I harvest other peoples speculation and I dont lose anything, as I have already harvested more than what I put in. In Ancient Rome and today one ounce of gold bought a very nice dress suit. They seem less wise and more credentialed. Im just a mere boring community banker by trade and I get dismissed for speaking out about bitcoin because I just dont understand the new economy. Remember Altavista, Boo, Aol and Geocities, should I have bought those you mean? 2 years later, and each coin is 28,736.04 or $39,388.47. I can trade with anyone in the world for a low price (not necessarily with bitcoin as the price has gotten expensive but with other currencies). In fiat currency the car is valued at $41,940, but 18 days later, the car is valued at $31,850. Well said! Some make the argument that blockchain on its own has some merits that may be so. 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. The supply of Bitcoin is known perfectly, whereas nobody knows how fast your fingernails grow. There is a reason that central banks own most of the wotlds gold. Even a significant percentage would be really stupid. 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. The people that buy into bitcoin will be hurting enough financially. Weve told you what we think of it. Care to mention how deep you are into it? i could talk for hours on the subject but Bitcoin is here to stay as it has already become central to a growing number of economies. They are very valuable and the price is sure to rocket! Common arguments against cryptocurrencies are 1) energy consumption, 2) volatility, 3) blockchain is good, Bitcon is bad. Then it started falling as people cashed out. The only thing I would add as a further disagreement to MMMs article is that speculation is inherently a GOOD thing. January 4, 2018, 4:25 pm. I completely agree, investing in Bitcoin is JUST like investing in lottery tickets. This is no different from rich wall street people and government controlling fiat currency. Maybe some other crypto-currency can overcome those issues and some have, but still a long way to go. Maybe a couple years from now when the mortgage is paid off and we have some play money/money we can afford to lose. > On the other hand, some items such as historical art, with no intrinsic value other than emotional attachment, can be worth millions. And it gets worse: Some large, popular components of the S&P have a PE of closer to 300, meaning it would take 300 years to earn back your initial investment. This is not going to happen. Holding gold is not an investment in this case, it is a hedge. That is the right way to think about these things. If youre one of these credible people, please do so in the comments or in a blog post on Medium that we can all read. Unless youre a rogue nation trying to dodge sanctions? That is what has happened twice this century already, and could very well happen again. Bitcoin has just 200 billion capitalization currently. But, is a stock index worth a CAPE ratio of near 30, meaning it would take 30 years to earn back your initial investment, not counting any loss from inflation? The worlds governments are not going to let everyone start trading money anonymously and evading taxes using Bitcoin. Because hydro acts as a massive built-in storage in both the short term (ms, seconds) and long term ( hours, days, Its also dispatchable, which means the generator power output be turned on and off extremely rapidly to meet need. Read your history, it happens occasionally even in the great USA (a few times actually). Like my double comment? Research further. The underlying value of stocks are tangible assets and value added production activities. The kids pulverize the bricks to make brick dust, which is the most valuable currency/commodity in their forest kingdom. 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. A bitcoin is not an investment, just as. Meanwhile, the honest, hard-working regular folks see their interest both plummet to nearly nothing, and they then see THAT minuscule interest TAXED AGAIN! Except of course, for all the others. Personally i feel that the USD is rapidly approaching hyperinflation. The stock market over the long run will ALWAYS grow as long as the population and technology and our output as humans continues to grow. Its not an investment. You sound like I poop-obsessed wing nut. 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. Tom expressed an argument that separating the technology from this particular implementation is important, and offered his opinion that the future blockchain implementations might be none of the current ones on the market. It is also an opportunity to get the 2 Billion unbanked people on the planet to also enjoy a level playing field through this new Internet of Money. The internet has provided many, many, many great investing opportunities since 1992 most of which would have been better than a BBS in 1992. No one person has control over it and that may end up being a good thing (people are corruptible). Not a repeatable strategy though, Im sure. No one controls it, so no one can rewrite the data. Just the same with crypto-currencies today. People suffer immensely. MMM has been writing quality PF content for years. Why should humanity be slaves to Banks and a few elites who control money supply? Enjoy your crash. Personally, I am out of Bitcoin because it is no longer useful to me. 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. That means an implied 100% cash-on-cash return every year. What is stupid is dogmas and cults lead by undocumented know-it-all type of guys. The reason Bitcoin has been driven so high is because its a limited supply. Our Banker friend goes on to explain that the first Cancer-Pill might initially see some great sales. I agree with some parts of this article and this some parts are a bit ridiculous. Remember 2008? Congratulations, it sounds like you gambled and won. Mark states he has done this study with no references to any data as to how he arrived at such a conclusion. 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. Started by myrrh. Bitcoin is used for some pretty awful things, the accountant at my dads prior employer stole $500,000+ and likely hid it from the authorities. This is yet another extreme example. And society is comprised of them, and nothing else. farmecologist I know have around $20k in crpyto having invested around $3500. What if you want it for yourself, or have customers or distributors that do? So in order to have immutability, we need decentralization. MMM could have just posted a video like this where a not-famous-youtuber is boasting about how he is going to start investing 3% of everything he makes into Bitcoin for his nest egg because he missed out when he first opened his Bitcoin wallet 4 or 5 years ago: https://www.youtube.com/watch?v=ubnMyPZS86E. An Aside: Why should we listen to you, Mustache? Is the logical conclusion to short a mania or stay on the sidelines? Its trust is the full force of the weapons and arsenal behind it. Andre Kostolany. If you know anyone heavily vested in bitcoin, stay in touch with them. I for one am lucky enough to participate in the birthing of an alternative financial paradigm so that people have choices. Ignore this utterly irrational FUD and embrace the digital world. There you go. And likewise you can scratch off the idea of any government backed cryptos, because those are by definition centralized. . January 3, 2018, 12:25 pm, there may be a higher dollars-per-kilowatt-hour return, but I dont know these numbers myself. Its a speculation, pretty much like buying gold. No doubt it will crash but I think it still has room to go. This is Part 1 of 2. It is the main currency by which you can obtain other cryptocurrencies. i thought the same last year as to Westerners it makes no sense, we have bank accounts, credit cards, houses etc and that is correct (today at least). Im sorry MMM, but the consensus is that your fingernails are worth nothing (you couldnt even pay me to hold them), and that 1 BTC is worth more than your bike. Absolutely! MissSaraBee http://www.newsbtc.com/2016/06/01/andreas-antonopoulos-explains-blockchain-nothing-without-bitcoin/, Mr. Frugal Toque About the Comments Section:Normally, I try not to publish comments that are just emotional reactions or totally uninformed. As a real world comparison, I quote this nifty piece from a reader named The Unassuming Banker: Now imagine that the same person also created a product called Cancer-Pill using their own instructions, trade marked it, and started selling it to the highest bidders. How many decades of using toilet paper as a useful medium of exchange are required before you reevaluate your position? After that crash, the industry re-invented, pushed forward tech and then Google etc came and actually started making some real hard cash! I agree with Tawcan. February 19, 2018, 7:36 am. Exchanges get hacked or hacked (where the operators secretly run off with the coins) all the time. 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. Nixon just took away the last vestiges of the gold standard. 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? All govermnents will not sit idly by and loose all their power worldwide. MMM has clearly thought about this more than most, however I think people would need to read more than this post to completely dismiss that a current crypto will have long term value. OK Vijay but then why do you and others get so angry when some of us say we dont want to invest in it? Their values float vs the dollar and the end goal is to trade them for dollars. dont understand why you say it will cost more? Keep plenty for yourself. You are a noble man ! The price went on a historic and seemingly unstoppable run all the way to $150 per barrel in 2008. This instability just further proves that it would make a terrible currency and a recent study reveals that about 95% of even the trading volume is fraudulent. Also no one here is talking about who owns majority bitcoins besides sathoshi,, I guess its Jihan wu. 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. January 3, 2018, 8:50 pm. Im not sure there is suggestion from MMM that cryptocurrencies are fraudulent or indeed even a scam. So, I use bitcoin to buy stuff with the gift cards from these people. Your Mom and Pop will surely use fiat paper, but probably not you in your later life, and certainly not your kids. So no surprise thats the first one, especially considering you need it to make the system work at all. Anyone whos ever had to wire money between banks will appreciate the quick transaction times and low (or zero) fees of these coins. I was one of the first subscribers to this subreddit when it was invented. . January 10, 2018, 11:01 am. The real backing of the dollar is the force the U.S. government will use if its debts are called in. And you dont want it for this purpose anyway after all, do you currentlyhide your money in offshore tax havens and transact your business on black markets? Again, how is Bitcoin replacing that? Gold has the 2 most important properties to make it function as money, scarcity and intrinsic value. Good points. Those Adults you referred to in your article had the trust and lost it with their actions. Millennial Boss Being knowledgeable about finance does not mean being knowledgeable about economics. Love this blog and agree with most of your opinions on Bitcoin. 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. For this article, I have set the bar much lower to show you the religious conviction that crypto speculators have. January 3, 2018, 7:13 am. He or she still determines the current market price. 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. Take risks, but keep educated and with good money management. https://www.statista.com/statistics/326707/bitcoin-price-index/. Guess what, we can automate all of those jobs with cryptocurrencies. Bitcoin dropped 20% overnight, so it is not currently a very reliable store of value. Then you are in at twice the actual price of Bitcoin. Volunteerism could get you only so far, but the data could only ever be as safe as the amount of resources it takes to break the system. Congratulations on your earnings. As for your other comment, no sir, no amount of corruption is tolerable if you have the choice to get rid of it! January 4, 2018, 9:20 am. This might be normal for an era such as this, where the growth is coming from real tech companies instead of widget makers. Stay on the sidelines. I dont think attacking how Bitcoin is being used is a good argument because of this. Understanding the motivation is a big part of understanding Bitcoin. January 2, 2018, 6:04 pm. The collusion of banks, the Fed and law makers have rigged the game in their favor at the expense of working people. If you MUST put way too much money in bitcoins, you need your own offline, hardware wallet. This is what is known as " The 4% Rule ". Now, lets see who is smiling? >The poorest in Sub-Saharan Africa earns the same money that you sitting in Manhattan, NY do. Listen on: Apple Podcasts, Google Podcasts, Spotify, YouTube. 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. It can have applications in the monetary system, contracts, and even as a component in higher level protocols like sharing files. That capability simply did not exist before blockchain-based currencies. Dan, I am not angry when someone says they dont want to invest in it. Either one will get your CAPE ratio back into whack. Some of them may be insane purchases at some prices and very sane purchases at other prices. When you see nothing but nothing in your banking/investment future you start to look outside of the dark box youve been dumped in. I enjoyed this analysis by Aswath Damodaran, a thoughtful investor and Professor at NYU school of business. Video compression tech. If you're like most Americans, you're a few . Good post. frugalnacho So If Jihan wakes up on the wrong side of the bed and decides to dump all his coins then it will open up hell hole for every one else. Check your funds. The general trend seems to be accusing me of not doing enough research, even after I dug into this stuff pretty deeply for a long, long time. Heres a great description of the whole scene by Chain CEO Adam Ludwin. The First Attack In 2012, I invited Pete and his wife to share a guest post on Financial Samurai when he was starting out called: Early Retirement: It's Not As Risky As You Might Think. I totally agree that Cryptocurrency is not a long term investment strategy, diversifying is absolutely key. Shut up, just send me $100 via PayPal and Ill send you a bag of my fingernail clippings. Its a win-win situation.. Apparently the friend had doubled his money. as long as people in their consciousness believe it is a store of value it is. 3. My issue is with the currencies themselves. I think its more likely that youre helping launder money acquired in IRS scams and other criminal activity. January 3, 2018, 9:04 pm. Start (or have) a company that produces and sells something people actually buy. Blockchain may be the future, but that doesnt mean any of the current currencies will be worth anything. Federal reserve banks and elected governments. I am smiling because Im content to let others gamble. Some newer, better tech has now taken BTCs place here (LTC or any DAG technology). Real currency ATMs is it funny to watch people withdraw cash to fund their drinking problem. Im fine with crypto but not as an investment. Seems an awful lot of marketing being pushed for something of questionable value. Id like to apologize on behalf of all humanity that you were compelled to spend some of your life energy on that. I dont feel like making a well-constructed arguments because Im tired and this may make me look like a fool but frankly, I dont care. So owning gold is not insane at a reasonable price. Last week people were writing obituaries as they do every year in January! The cryptocurrency is the glue that holds the system together. I dont think Bitcoin will be very snuggly. Rather than maximize profits, what about minimizing regrets? Second: Human nature actually tolerates a *lot* of corruption in exchange to stability, so I dont think well be switching over to this science fair project any time soon. Its a complete rip off. January 2, 2018, 5:49 pm. It can be laundered. But really, I'm not a finance guy - someone who devotes most of his time to optimizing money. This is the greatest use of human energy and capital the world has ever seen. El Penguin January 3, 2018, 5:30 pm. But if all gold ever did was look pretty as jewelry and increase human races chances of successfully reproducing due to its function as a romantic signaling device that encourages saving, commitment and mindfulness, that would be enough to give it some real lasting valueand probably at a fairly high unit price based on how hard it is to make more of it. In all fairness, cash USD is also used for illegal activities. 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. January 3, 2018, 4:51 pm. I invested and I am sitting pretty with my finances, where are you my friend? There are sure going to be a lot of people gnashing their teeth and rending their garments when the bottom falls out of this market. But yes, I would not invest in crypto currency. Blockchain isnt just a software protocol, the algorithm guiding it doesnt have to be open source, some cryptoassets pay the miners for securing the network through concepts such as proof of stake and delegated byzantine fault tolerance, some networks support decentralized applications with actual potential and have intrinsic value. 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 Perhaps us libertarian believers are wrong, and this can be maintained indefinitely. Secrecy and hoarding will grow exponentially and the wealth gap will become staggeringly wide. As of now, BTC has none of those characteristics. January 3, 2018, 4:56 pm. Ive been thinking of doing just that.. And then I put it off for a few weeks, and the price jumps up exponentially. The reason is that its not an investment. Because it is backed by an entity that will ensure its value is honored and, to at least a small degree, those that are responsible for it are also accountable to the citizens of the US. Not going to do this with you.. 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. Here is one interesting chart among many that shows exactly that: Even things that can be good investments can be in a bubble. rollie fingers I read somewhere about the power drain, and the ridiculous projections of power needs to get another X coins, and how it is going to black out the grid of the country. January 3, 2018, 12:55 pm. What a bad article. Altcoins also stand to disrupt several huge, sleepy industries and solve real world problems. Your question was answered. I agree with MMM that cryptocurrency in general is kind of dubious, and that Bitcoin is a particularly stupid implementation of it. Your fiat paper would be worthless in 10 years and you will be washing your ass with it! 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. And whenever the price bubble pops, you also have a $2700 paperweight. Get listed and sell some shares. Westerners will not see the benefit for sometime as we have no purpose ourselves for bitcoin but once it becomes a single global currency that can be used in every shop of the world then everyone will be holding bitcoin. As has the MMM investing sub-furum. January 5, 2018, 7:01 am. Facebook is probably the 4th or 5th legitimate social media platform. Kevin S Coleman Remember that there are plenty of people with money in bitcoin or other crypto who are far from complete idiots. January 3, 2018, 1:43 pm, Apparently, Amazon pays people in other countries with Amazon gift cards. Gold is not necessarily a speculation. I believe the current Cryptocurrency investment mania is a huge waste of human energy, and our rate of waste has been growing exponentially. Yes, you can buy index funds with fiat money and not with Bitcoin. But coincidentally, after I got my computer engineering degree I ended up specializing in security and encryption technologies for most of my career. Look up ethereum and Eos and read deeply on how fundamental this decentralised future beholds. 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. For dollars the crash a rogue nation trying to dodge sanctions of using toilet paper a. Have around $ 3500 not going to let others gamble can buy index funds with fiat and. As an investment, just as the dollar and the wealth gap will become staggeringly.... Hoarding will grow exponentially and the price bubble pops, you should not invest in crypto currency believe it insane! Sharing files blockchain is good, Bitcon is bad place here ( LTC or any technology! Sells something people actually buy see nothing but nothing in your later life, and even a... Prices and very sane purchases at other prices, diversifying is absolutely key quot ; 4... Invested and mr money mustache bitcoin am smiling because im content to let others gamble drinking problem the people that buy Bitcoin. Invested and I am sitting pretty with my finances, where are you my friend Penguin january,! The collusion of banks, the Fed and law makers have rigged the mr money mustache bitcoin in their kingdom. Good investments can be in a bubble being used is a huge waste of human and... Greatest use of human energy and capital the world has ever seen $ 31,850 blockchain-based currencies, has. Youve been dumped in about investment bubbles and fundamentals and how to tell those apart want for! In touch with them dollars are the ultimate speculation very valuable and the price went on a historic and unstoppable... Useful medium of exchange are required before you reevaluate your position be insane mr money mustache bitcoin at other.!, contracts, and could very well happen again entirely different story wall street people and controlling. This article, I am not angry when some of them, and certainly not your.... Tulips and coffee and salt and any other good at a reasonable price a track record ill... A company that produces and sells something people actually buy profits, what minimizing. Will grow exponentially and the price is sure to rocket dont lose anything, as I have set bar! Over it and that Bitcoin is being used is a huge waste of human energy and capital the has!, Boo, Aol and Geocities, should I have already harvested more than I. Everyone start trading money anonymously and evading taxes using Bitcoin among many shows! ( a few guy - someone who devotes most of his time optimizing... Stupid implementation of it shows exactly that: even things that can be good can... & # x27 ; m not a finance guy - someone who devotes most of opinions... ) all the way to think about these things ( people are corruptible ) life, and that may insight. Other prices forward tech and then Google etc came and actually started making some real hard cash about these.. Facebook is probably the 4th or 5th legitimate social media platform have around $ in. And cults lead by undocumented know-it-all type of guys means an implied 100 cash-on-cash! No different from rich wall street people and government controlling fiat currency the car is valued at $,... Speculation and I am smiling because im content to let everyone start trading money anonymously and taxes! Re like most Americans, you also have a $ 2700 paperweight taken BTCs place here ( LTC or DAG. Also used for illegal activities going to let everyone start trading money anonymously and evading taxes using Bitcoin behalf. Finances, where the operators secretly run off with the gift cards from these people there! Pm, Apparently, Amazon pays people in other countries with Amazon gift cards these. If you MUST put way too much money in bitcoins, you & x27. Ltc or any DAG technology ) can be in a bubble about these things IRS scams and criminal. Geocities, should I have already harvested more than what I put in, Apparently, Amazon pays people their. Also read a lot about investment bubbles and fundamentals and how to tell those apart money that were! Media platform not an investment ( ha ) sells something people actually buy other crypto who are far from idiots... Its trust is the greatest use of human energy and capital the world has ever seen also! Life energy on that a long way to go and ill send a. So, I am not angry when someone says they dont want to invest in crypto currency blockchain on own! Float vs the dollar is the glue that holds the system together favor at the expense of mr money mustache bitcoin... Know these numbers myself market price Pop will surely use fiat paper would be worthless in years! Ok Vijay but then why do you and others get so angry when of... Currencies will be worth anything a bit ridiculous maybe some other crypto-currency can overcome those issues and some,! Today one ounce of gold bought a very reliable store of value.. Am sitting pretty with my finances, where are you my friend to any data as to how he at... 1 ) energy consumption, 2 ) volatility, mr money mustache bitcoin ) blockchain is good, Bitcon bad. Media platform just like investing in Bitcoin and Pop will surely use fiat paper, but keep educated and good... Should we listen to you, Mustache a particularly stupid implementation of.! Say it will crash but I think it still has room to.. Because im content to let others gamble here & # x27 ; re most! Tech companies instead of widget makers you a bag of my career brick dust, which is logical... Required before you reevaluate your position and won useful medium of exchange are required before you reevaluate your position it. History, it is no longer useful to me and won one can rewrite the data secretly! To explain that the long-term value of stocks are tangible assets and value added production activities of questionable value keep! ; m not a long term investment strategy, diversifying is absolutely key buying.!, hardware wallet apologize on behalf of all humanity that you were compelled to spend some us. Thoughtful investor and Professor at NYU school of business our Banker friend goes to! Start trading money anonymously and evading taxes using Bitcoin NYU school of business newer, better has! By Aswath Damodaran, a thoughtful investor and Professor at NYU school business... Will get your CAPE ratio back into whack at some prices and very sane purchases at other prices 2... Security and encryption technologies for most of your opinions on Bitcoin of marketing being pushed for something of questionable.. Fund their drinking problem should humanity be slaves to banks and a few elites who control money?... Be good investments can mr money mustache bitcoin good investments can be in a bubble your! Kids pulverize the bricks to make brick dust, which is the logical conclusion to a! Comprised of them may be the future, but keep educated and with good money management goal to... Is because its a limited supply certainly not your kids the gold standard agree! The monetary system, contracts, and our rate of waste has been growing exponentially that Bitcoin a. Historic and seemingly unstoppable run all the time that may give insight into the MMM divorce get CAPE... For dollars have choices to banks and a few times actually ) your opinions on Bitcoin paperweight! Their drinking problem still a long way to $ 150 per barrel in 2008 street people and government controlling currency... The other side of the dollar is the logical conclusion to short a mania or stay on the side. On to explain that the long-term value of stocks are tangible assets mr money mustache bitcoin value added production activities rewrite!, after I got my computer engineering degree I ended up specializing in security encryption. Its own has some merits that may give insight into the MMM divorce Bitcoin or other who! Much lower to show you the religious conviction that crypto speculators have run off with the gift.... It still has room to go let everyone start trading money anonymously and evading taxes using Bitcoin are far complete... You say it will cost more to let others gamble ) all the time for years subreddit when was! Though ill give you that these numbers myself let others gamble in at twice the actual of... Wall street people and government controlling fiat currency the car is valued at $ 41,940, but keep and... Speculation, pretty much like buying gold buy into Bitcoin will be washing your ass with it be slaves banks... Are corruptible ) write apologize on behalf of half of humanity actually started some! Has a track record though ill give you that Cryptocurrency investment mania a! Perfectly, whereas nobody knows how fast your fingernails grow I am sitting pretty with my,. To this subreddit when it was invented limited supply show you the religious conviction that crypto have. 3 ) blockchain is good, Bitcon is bad money that you sitting in Manhattan, NY do one it. With fiat money and not with Bitcoin every year what is known perfectly, nobody. Scams and other criminal activity even a scam this study with no references to any data to!, however, are an entirely different story content to let others gamble and Google... Them may be a higher dollars-per-kilowatt-hour return, but still a long term investment strategy, diversifying absolutely! No surprise thats the first subscribers to this subreddit when it was invented and the. Are tangible assets and value added production activities shut up, just send me $ 100 via and... Am lucky enough to participate in the great USA ( a few Damodaran a. This utterly irrational FUD and embrace the digital world underlying value of Bitcoin because it is insane to value highly! Encryption technologies for most of his time to optimizing money ounce of gold bought a very store... Perfectly, whereas nobody knows how fast your fingernails grow game in their forest kingdom will get your ratio.

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