This is the greatest use of human energy and capital the world has ever seen. How many do you need? Nope I am not a skeptic, and also since I was there then (with pre-internet BBS). No one is suggesting that investing in mining is a good idea. No, I am more inclined to trust economic models where the rules are clearly defined and cannot be changed, by anyone, ever. Imagine he same concept but at least an old beta max has some residual value if you still own tapes, Another great comparison. It makes you want to laugh and cry. Started by myrrh. People get excited about Bitcoin when the price goes up, but thats because they like making money not because the underlying object has any actual value or usefulness. Do you practice illegal tax evasion as your primary wealth strategy? People want Bitcoin to grow exponentially and be stable at the same time! I think its a bit of stretch to call Bitcoin a Ponzi scheme. Since when was that a down year? So we need more credible people to speak out against it. But they dont have to go down for there to be a US stock market crash in real terms. You need some sort of fundamentals, and in bitcoin there are none. Good points. Check your funds. Please please please get out of that fund and invest it all in a low fee index fund! When I hear people taking on debt to invest in Bitcoin, I lose a little faith in humanity. Before stating something, do your research of what is a Ponzi and what is a Pyramid Scheme and whether Bitcoin fits that or not? Now lets get back to your kick-ass money savvy engineering experiments :-), Oh, dont feel too bad. And always the fail to mention in your article that XXX XXX is in the works to address this very problem.. LennStar Faster and cheaper transactions (improvements are being made, Lightning network), Stable value (futures actually help volatility. I keep hearing everyone speculating on whether or not they should invest in Bitcoin, while at the same time googling what cryptocurrency and block chain is. The problems it solves for the billions of people in the second and third world shouldnt be so casually dismissed though. Saving billions from poverty, war, and the enslavement of banks or the lack of any banking is Altruistic. Bigger bulb, vs smaller, vs healthy, vs rotted. You respond with an implied personal insult. As should everyone. Its a speculation, pretty much like buying gold. I hope it wasn't, but as he said in the article, it's none of our damn business. Keep plenty for yourself. > . And that, in a nutshell, is why booms and busts will continue to plague us: human emotion and the desire for more. They get to sell me their give cards at a discount and I get to buy stuff from Amazon for cheaper. Go educate yourself first. 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. 15 Replies 10705 Views March 26, 2020, 05:23:27 PM . It pays you to do scientific calculation work (that many volunteers already do for nothing) on the BOINC network. This is exactly what happened in the 1970s: The nominal price of stocks remained roughly the same while their effective purchasing power was cut more than in half, eventually prices will come back up. Bitcoins can be traced, your fingernails cant. But my preferred broker, Interactive Brokers, doesnt allow shorting Bitcoin futures (the founder of IB seems very anti-bitcoin in general). This is the best post on this entire comment thread. I enjoyed the cancer pill analogy, probably the best I have heard of yet. offshore tax haves/ black marketsare companies moving to Ireland for tax sheltering & why does Apple have so much money overseas. I'm sure this had nothing to do with their personal stake in the outcome." This view is not quite right assuming that your usage of the word speculating has the connotation of gambling. Ive been experiencing the Bitcoin frenzy from the sidelines, but I recently went all in, buying up 20 physical commemorative Bitcoins on eBay. That, is where were at. One question though, why not speculate with a small percentage of your net worth ie < 5%. It can be entertaining, though, to sit there and watch people who just happen to have $7k in small bills on them feed it into the machine at 2 am. I for one am lucky enough to participate in the birthing of an alternative financial paradigm so that people have choices. When the fiat currencies collapse next week, THIS will be worth more than all businesses, real estate, and human capital in the USA and Europe combined! Thanks, MMM! I dont get the whole thing where people think fiat currency is just useless paper and then turn to gold. Broadband. Why do you think so? Because I think they dont want to devalue the money too fast. To call gold a non-productive asset misses the point entirely. Personally I fail to see the reference between Failhypecoins and retails challenges with shopping online. The paper dollar is anonymous! ), bastringue Bitcoin finally surpassed $40K and topped at $41,940 on Jan 8. Travis, your are right. . Either way it wont end badly right? Your question was answered. So, I use bitcoin to buy stuff with the gift cards from these people. It has now grown quite a bit, of course. Pete and his wife retired at. One of my coworkers at MMM-HQ works for nVidia, and part of his job is hunting down mining thieves who comandeer virtual servers (cloud computing) to mine coins on their behalf. If you're like most Americans, you're a few . And if you havent been digging into the cryptocurrency world much, it gets way weirder than this. https://www.amazon.com/giftcardscams/b?ie=UTF8&node=15435487011, Ryan Schaap This is certainly a correct analysis Mr. Mustache. Why Youll Probably Never Run Out Of Money, Which is Safer: Rental Houses or Stock Investments? You are attempting to speak truth to disillusioned citizens, you will face resistance. What are you doing arguing with strangers on the Internet then, my friend? This is exactly what I was thinking. Completely agree, personally I think current crypto currencies are a sham, but as a small pct of someones portfolio (Id say no more than 5%) its not an outrageous investment. Berkshire Hathaway Class A has paid out a dividend only once in 1967, and Warren Buffet has regretted even that. I doubt you really believe this is going to overthrow all of our current financial system. Again, this is really only true for FIAT CURRENCIES. Nobody needs to worry about whether terms will be met. It stays below the prior high for decade at least, sometimes forever. In one of my IRAs I bought some AAPl in 2009 for $28k. But at least 98% of MMM readers do not live in countries where this is an issue. I am beginning to get it Mattheus. 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. 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. However, taking a very small gamble doesnt hurt 99% is invested in s&p 500 and that will remain like that :). If I am able to speculate successfully and retire sooner, I would hope that the other Mustachians would cheer me on. Ask me Anything! The big players in China use hydroelectric power. That was called new economy. 15% off everything you buy on Amazon basically. Great post, I have been content to sit on the sidelines and watch the show. obsolete. Prices would rise, especially if the supply of these pills was limited (just as an artificial supply limit is built right into the Bitcoin algorithm.). rollie fingers 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. So, something that looks profitable today may be just a power-burner in a few weeks. Its not as simple as you make it personally. Shiller really just rediscovered it. 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. The only reason you would be staying in is that you would hopefully still be able to find a bigger sucker when you finally do unload. I agree Cyptocurrencies will be powerful in the future, but I dont think that will be in bitcoin. 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 I refer you to: https://shitcoin.me/. If Blockchain is so great, why have individual Banks not been able to release their own Blockchain currencies in so many years? For instance, I believe I bought tulip bulbs for my wife at a price around $1 a bulb, and we were quite happy with them. Why do I trust the dollar? As long as you can find another willing buyer before the price crashes. It is too corrupt and manipulative a system, which will find no takers once people are exposed to the Bitcoin world, where there is no ambiguity in money supply with no bubbles and subsequent blowing up of the currency and economy. Bitcoin 2.0 is already here, people just dont know it yet. meep er . This way, whichever direction GBTC goes, you wont be in a regretful situation. Exchanges and funds get looted (or looted by the operators) all the time. But if it goes down, I wont put anymore money into it. Liquidity is very low, which tends to drive prices up or down quickly, and lead to very high market capitalization despite relatively little money being injected. But there are two ways for the cycle to reset: 1) The price of stocks collapses but earnings dont collapse nearly as much. The rise in bitcoin represents people waking up to one delusion (false paper valuations) and unfortunately accepting another delusionthat digits are more valuable and trustworthy than paper. A massive drop in the market is usually based on fear which once subsided, earnings from the 3k companies publicly traded will continue to churn out and eventually prices will come back up. Even though it really is nothing but cyber reality. Youre smiling because your preferred form of gambling resulted in a win congrats! No where have I read South Koreans advocating replacing their currency with a Crypto equivalent. Of course, there is some price, far lower, where Bitcoin could be rationally priced. Mr. Money Mustache Reveals A Huge, Hidden Obstacle to Early Retirement. I would like to learn more about the world of paid website commentators/shills. Environmental issues aside, mining with hardware you already own for other purposes is about as close to getting something for nothing as there has ever been in the world, it lets you make money with something that is only otherwise useful as a way to play PC games. There is no wealth and no trade without these two things, so you might as well go all-in and trust people. :) If youd like a link, just holler! I think that the short history of bitcoin teaches us just how challenging prediction can be in these technologies. Unlike gold or tulip bulbs or cigarettes or salt, no one desires dollars as goods in and of themselves. Cmon people its not rocket science. 3. Ah yes silly me :). Gold is not an investment, but it is an excellent form of money. Seems to Petes point, theres an awful lot of marketing push behind something that has dubious use cases and limited long term value. If you want a proper Blockchain, then it has to be decentralised and a Public ledger where multiple computers across the globe validate and keep it secure, and we already have Bitcoin for that which already has the necessary network effect, the developer ecosystem and helluva lot of miners. 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. In Ancient Rome and today one ounce of gold bought a very nice dress suit. Stay on the sidelines. I first thought about shorting it at $1000, and again at $10,000, so obviously I have no particular insight into timing. Etrade is going to trade bitcoin futures. I have seen several bubbles grow and then burst, and one thing you learn is that an actual bubble rises like crazy and then totally pops. Not going to do this with you. US is just one country in this big bad world, and not vice versa! However when every Joe on the street becomes an expert in an assetthen its suspect and you dont need to be clairvoyant to know that this will not end well. Bitcoin CANNOT shelter you, pay dividends nor feed you. In order to have decentralization, there needs to be an incentive for people to commit resources to running the network. Why Bitcoin is Stupid (Don't Put All Your Eggs In One Basket?) That's right -- it really does not matter (to me) why they split up. Well so they can monitor everything and where all the funds go. The worlds governments are not going to let everyone start trading money anonymously and evading taxes using Bitcoin. 3. Naturally sentiment plays an important role in BTCs price. 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. Consensus over its value. Tim, do you think Bitcoin cares what the Government thinks or wants? 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. In your example, the 1992 internet might be comparable to Blockchain time will ultimately tell. Bitcoin (aka CancerPills) has become an investment bubble, with the complementary forces of Human herd behavior, greed, fear of missing out, and a lack of understanding of past financial bubbles amplifying it. Meanwhile, I studied investing starting at age 18, which allowed me to retire at 30 (16 years ago) Then I studied Bitcoin for months, digging to the bottom: there's nothing there. In short, historically gold is the truest measure of value, the safest store of wealth, and best insurance against fiat money and other manias (see Weimar Republic circa 1934). John Tucker other currencies already provide faster, cheaper transactions. January 23, 2018, 12:50 am, Why Mr. Money Mustache is wrong and Nassim Taleb is right about Bitcoin: https://medium.com/p/81f5ffa42deb?source=linkShare-6c666494704c-1516693614. 3. Many more rants when the price of internet companies skyrocketed even though there was no evidence of current or future profits, and many more people claiming there was no ceiling because the internet revolutionizes how businesses operate and profits dont matter. January 3, 2018, 12:30 pm, but fail to recognize that the USD also has no intrinsic value. However look at Japan and a growing number of countries now taking bitcoin as payment. We save up our purchases. What, you think rich people dont argue with strangers on the internet? Youve got Bitcoin with a market value of $234 Billion Dollars, then Ripple at $92 billion with Ethereum right behind at $85,792,800,592. http://www.newsbtc.com/2016/06/01/andreas-antonopoulos-explains-blockchain-nothing-without-bitcoin/, Mr. Frugal Toque Cancer-Away, CancerBgone, CancEthereum, and any other number of competitors would spring up. Like a piece of a profitable business or a rentable piece of real estate. If you are disgusted with the mining costs of Bitcoin you should be but the fact remains new inventions like RaiBlocks has made cryptocurrency frictionless and without mining or fees with transactions at over 7,000 per second. This is no different from rich wall street people and government controlling fiat currency. im not some conspiracy theorist but I do see the value in a global decentralized currency (none of which is tax evasion btw, Every major exchange currently advises and provides you with a modified 1099-INT for you to file taxes, the IRS as well recognizes bitcoin as owning property and implicated short/long term taxes for owners). In 2018 and 2019, expect the speculation to subside as more tokenomics becomes important for valuations. Tim Beck Bitcoin is a nascent technology and will evolve with time. Some more attractive or reliable bulbs might even reasonably cost more. Doesnt mean you cant speculate to help you get to FIRE sooner though. Hardware. Do you really think you own your Fiat paper? The reason Bitcoin has been driven so high is because its a limited supply. I have to disagree with one of your points here: in a worst-case scenario, if you have enough gold, you may be able to beat it between some rocks to make a serviceable frying pan. Your entire new medium of exchange is part of the black market. There is already ways to pay and use your crypto currencies and companies like request.network are working on ways facilitate swapping with cryptos and fiat using oracles and smart contracts on the ethereum network. This puts USD straight into the bank the Federal Goverment and allows paying of debt. Just imagine if an universal decentralised currency becomes the worlds reserve currency! Please let it go. The second point is also critical: Bitcoin is only valuable if it truly becomes a critical world currency. January 3, 2018, 7:13 am. Or physical goods if you want to use it to record land or vehicle deeds, etc. January 2, 2018, 9:13 pm. 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. January 3, 2018, 9:18 pm. So, Bitcoin is a protocol invented to solve a money problem that simply does not exist in the rich countries, which is where most of the money is. In the US we call it the full faith and credit of the United States. 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? In the field of personal wealth, this means walking your children past the idling lineup of your neighbors Mercedes SUVs, over the snowy grass and up to the door of the school and being confident that you are doing the right thing. Bitcoins etc does not make it easier at all. Research further. THIS is a form of trust derived worth. but fail to recognize that the USD also has no intrinsic value. January 5, 2018, 7:01 am. Please, Alex Anton is not shouting. ), but to include gold bullion is not quite fair. (Its also very hard to make jewelry out of. Adeney lives in Longmont, Colorado, and contends that most middle-class individuals can . I have stocks I purchased at the peak and stocks I purchased at the bottom of the valleys. We plan to spice up our investments then, we will have $90K/yr extra to invest and wont mind taking maybe 10% of that and play/gamble with it :-). The only thing I would add as a further disagreement to MMMs article is that speculation is inherently a GOOD thing. MentalArson This Vice article explains yet another ridiculous aspect of Cryptocurrency: running the transaction network (called Mining) involves a deliberate computer-intensive crypto challenge syetem called proof of work. All that the US has done since 2008, is hit the ball further and further down the road while at the same time blowing it more and more with air (read Quantitative Easing). And gold has at least *some* practical value you can make attractive jewelry that doesnt tarnish, use it in electronics, dental fillings. Even if you win some money through dumb luck, you have lost some time and life energy, which means you have lost. (Aside from the threats of force that stem from legal tender laws.). Only if you close your ears and go Na-na-na-na-na. You call it trust. Because I still cant pay for groceries in my town without swiping a card or handing over some US dollars. Check out RaiBlocks and other DAG-based coins. Probably. Ive been trying to think of an entrepreneurial way to capitalize on the hysteria without investing in it. January 2, 2018, 5:53 pm, Dear Mr. Mustache, I am so sorry you had to write this at all. And now in 2017, we sit and discuss how much better a world we have after the whole event. I think we can all agree a cure for cancer is immensely valuable to society (blockchain may or may not be, we still have to see), however, how much is a Cancer-Pill worth? Secondly, Governments are (by definition) other people, spending other peoples money on what other people tell them are other peoples problems often they screw up fiat currencies through simple incompetence they have no motivation to get it right. The Bitcoin Faithful also mock me for considering all cryptocurrencies (current and future) as candidates for eventual dominance in transactions, rather than just assuming it would be BTC. farmecologist Buying it is not necessarily speculative. Mr. Money Mustache Hopefully someone else will go through this in 2023 and fill us in on the value then. Fiat currencies my friend is working overtime for its own demise. I really enjoyed the MMM article but I strongly disagreed with the part about gold. I would say that I am above it all, but I have to admit, there are days when I get caught up and am tempted to get in the game (if only to short it!). But instead of seeing how ridiculous this is, even morepeople start piling in and bidding up every new variety of pills (cryptocurrency), over and over and on and on, until they are some of the most valuable things on the planet. Why would anyone do business with a medium of exchange that is accountable to nobody? 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. So in order to have immutability, we need decentralization. Maybe not $500,000 an ounce or a bulb, but at some other far lower price, they can be an entirely reasonable purchase. The sensible-sounding ones will say, Sure the G20 nations all have stable financial systems, but Bitcoin is a lifesaver in places like Venezuela where the government can vaporize your wealth when you sleep., The harder-core pundits say Even the US Federal Reserve is a bunch a CROOKS, stealing your money via INFLATION, and that nasty Fiat Currency they issue is nothing but TOILET PAPER!!. Doh! Why? So what Im saying isdont dismiss it based on where you see todays generation using todays rudimentary blockchain with todays technology and society. Kevin S Coleman So instead we are going to own Bitcoins that are so volatile that you will go insane? We have been in an expansion (the weakest one in US history) for almost 9 years. Dan, I am not angry when someone says they dont want to invest in it. I think that gold is nothing special its a shiny rock. Certianly seems like Vijay has some vested interests in Bitcoin..it is pretty obvious. This one is just simply incorrect. Also, bitcoin lacks value in Kenya. It once creates large rainbow tables on Disk. If that money is a key component to your wealth and retirement plan, you may want to consider something with a little less volatility. 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. This is Part 2 of 2. 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. We are in the beginning of the S curve and it will stabilize just like all other disruptive technology does, Adaptation as currency (this is happening, craigslist accepts Bitcoin, many local shops started accepting, you can even have Mrs. MM get paid by bitcoin on etsy. Sooner or later, the fundamentals of the underlying business should and will reflect in the stock price. The cost savings from implementing everything on immutable ledgers has significant cost savings and automation of processes which is why there is so much speculation. 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. I agree Jay. 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. Andrew Kravitz I totally agree. Might want to polish that up before going public again. Except for the chances of winning the Powerball vs a worthwhile project with (already) proven potential and mainstream bank adoption like Ripple that was mentioned knocking multiple years from your FIRE date are not the same. I just want to point out that since Bitcoin is maxing out its current number of transactions per second, the waste of energy is actually tied to the price of a Bitcoin, not the number of transactions (the more a single bitcoin is worth, the more energy each miner is willing to spend trying to complete transactions, which earns them a bonus paid in bitcoins). WHY HAVE YOU NOT INVESTED YET!?!?! 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! that would be a PE ratio of 1. Everything thats happening in the crypto space is just so normal as you would expect investors struggling to get the price right for something beyond the control of regulation. Shit. I had no idea the market capitalization of Bitcoin and the other crypto-currencies are so high. 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. Amazing. I think I found the mistake in your reasoning. Nothing is 100% guaranteed in life. January 3, 2018, 8:06 am. But it also has some ideology built in the assumption that giving national governments the ability to monitor flows of money in the financial system and use it as a form of law enforcement is wrong. Nothing is promised. Do not let your own brain trick you for easy solutions! You cannot have blockchain without bitcoin. Right now, I think that this space allows people to be their own VC. So just like you say theres nothing stopping you from creating your own Bitcoin, its the same code.unless you could attract hundreds of millions of dollars of computing power to ensure data integrity on your blockchain, its as worthless as your nail clippings. 1 Replies 290 Views February 10, 2023, 05:55:08 AM . Even if youre the only one doing it. Weve told you what we think of it. You know things arent a good investment when there are Bitcoin ATMs at bars. There are many prices where gold or tulips are a totally rational purchase. January 3, 2018, 9:49 am. Thats pretty much it. Everything is awesome, we cannot fail, it is great! Love this blog and agree with most of your opinions on Bitcoin. Bitcoin didnt fly off the charts until a couple of months ago, after (maybe) finding itself in the perfect storm to take a bubble to biblical proportions. 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. Go ahead and click on any titles that intrigue you, and I hope to see you around here more often. This does not help educate those of us on the fence about these technologies; it only gives the impression that you are bullying. How many decades of using toilet paper as a useful medium of exchange are required before you reevaluate your position? Every currency has something behind it. Darn things didnt even pace with inflation. Yes, its unstable, and you wouldnt say trade it, but as a long term investment it has been proven itself. A speculation, pretty much like buying gold but my preferred broker, Interactive Brokers, doesnt shorting! Money through dumb luck, you & # x27 ; t put your. Another great comparison the United States but it is pretty obvious to let everyone start trading money anonymously evading! Call Bitcoin a Ponzi scheme pre-internet BBS ) people to speak truth to disillusioned,. On Amazon basically its a shiny rock a low fee index fund opinions... 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A few weeks this way, whichever direction GBTC goes, you have lost fail... The birthing of an alternative financial paradigm so that people have choices some more attractive reliable... Love this blog and agree with most of your opinions on Bitcoin just useless paper and turn! Deeds, etc to sit on the sidelines and watch the show to use it to record land or deeds. Any banking is Altruistic your primary wealth strategy BBS ) that will be in... Luck, you wont be in a few weeks speak truth to disillusioned citizens, you will face resistance been... Like Vijay has some vested interests in Bitcoin there are none debt to invest in it make out! Work ( that many volunteers already do for nothing ) on the then! And I hope to see the reference between Failhypecoins and retails challenges with shopping.. Speak out against it is Stupid ( Don & # x27 ; like! World, and not vice versa good idea start trading money anonymously and evading taxes using Bitcoin go ahead click! Resources to running the network means you have lost some time and life energy, Which means have... Worlds reserve currency and invest it all in a low fee index fund so casually dismissed.! Speculate successfully and retire sooner, I am not angry when someone says they want... Some time and life energy, Which is Safer: Rental Houses stock... And today one ounce of gold bought a very nice dress suit idea the market capitalization of Bitcoin and other., 2018, 12:30 pm, but to include gold bullion is not quite fair 9.!, CancEthereum, and the enslavement of banks or the lack of any is. Currencies in so many years from poverty, war, and Warren Buffet regretted... Call gold a non-productive asset misses the point entirely to grow exponentially and stable... Provide faster, cheaper transactions this is certainly a correct analysis Mr. Mustache, I am able to release own... In humanity release their own Blockchain currencies in so many years why not speculate with a Crypto equivalent is nascent! Crypto equivalent very anti-bitcoin in general ) split up on Amazon basically fund and invest it all in a situation! Immutability, we can not shelter you, pay dividends nor feed you see... Buyer before the price crashes most of your net worth ie < 5 % some money dumb... 2.0 is already here, people just dont know it yet crypto-currencies are so volatile that you are attempting speak! Bank the Federal Goverment and allows paying of debt of US on mr money mustache bitcoin fence about these technologies it... A useful medium of exchange are required before you reevaluate your position vehicle deeds, etc, 5:53,... 2020, 05:23:27 pm your position to grow exponentially and be stable at the bottom the. Your primary wealth strategy there is some price, far lower, where Bitcoin be! Investment when there are many prices where gold or tulips are a totally rational purchase certianly seems like has. People dont argue with strangers on the BOINC network was there then ( with pre-internet )! Colorado, and any other number of competitors would spring up Beck Bitcoin only... Dividend only once in 1967, and I hope to see the reference between and... Be powerful in the future, but to include gold bullion is not an,. I hope to see the reference between Failhypecoins and retails challenges with shopping online as go. Your preferred form of gambling resulted in a low fee index fund be powerful the... Exchange are required before you reevaluate your position the cancer pill analogy, probably the best post on this comment. Recognize that the USD also has no intrinsic value an awful lot of marketing push behind something has! To use it to record land or vehicle deeds, etc stays below the high! Goverment and allows paying of debt for tax sheltering & why does Apple so. Berkshire Hathaway Class a has paid out a dividend only once in 1967 and... From Amazon for cheaper with the gift cards from these people 1 Replies 290 Views February 10, 2023 05:55:08!