It is a good. Favorite quote: Bitcoins growth is not based on its technology alone (which, while powerful, is open-source and therefore easily replicable) but rather on the strength of virality, encouraged by the vested interests who held early and invested in marketing it; with no genuine business underlying it, it acquires its (very substantial) memetic potency only from the evangelism of those whohodland preach., David Webbs great explanation: Bitcoin: the Worlds First Decentralized Ponzi Scheme, Preston Byrne again (brilliant guy! They could also plateau until earnings catchup with prices.. When the supply of foolish speculators dries up, the value evaporates often very quickly. It is not an investment. The worlds governments are not going to let everyone start trading money anonymously and evading taxes using Bitcoin. Mr. Money Mustache is. Youre not going to get rich by collecting metals, but you might stay rich with them. Im fine with crypto but not as an investment. Go ahead and click on any titles that intrigue you, and I hope to see you around here more often. Bitcoins can be traced, your fingernails cant. Why should humanity be slaves to Banks and a few elites who control money supply? Exchanges get hacked or hacked (where the operators secretly run off with the coins) all the time. Lady Dividend I feel anything worth putting money in should, in broad over-simplified terms at least, be comprehensible even to a simpleton like me. So, we usually get $100 to $200 worth of stuff all at once. I have accepted lifes nudge and opened up several pages of your blog and am working through them right after this, The Vigilante But yes, you should think about getting out, since you have enough now. Absolutely, so Ill proceed with it. The government has done some sickening things to ensure the wealthy and powerful stay wealthy and powerful. No difference there. More? All true. Personally, I am out of Bitcoin because it is no longer useful to me. Then my father used the same toilet paper for his cars and his house? Ideally something not too specific to bitcoin, like I dunno, power equipment? 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. Its clear from reading the comments that most people dont understand how this works. The real test of if you should be a cryptocurrency supporter:would you be exactly as passionate and spend the same amount of time thinking about it,if Bitcoin were still an obscure piece of code, worth less than one cent, and offered no chance of ever earning you any money? One question though, why not speculate with a small percentage of your net worth ie < 5%. While were on the topic of bubbles, it seems the truly gigantic bubble in the world isnt bitcoin, but rather the global debt market. 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. January 3, 2018, 12:41 pm. It's natural to just look at the price itself and how much it's . That is what is pissing me off. You could grow more bulbs indefinitely. As long as the current monetary scam can be sustained, you are going to get very little traction. People want Bitcoin to grow exponentially and be stable at the same time! And there are so many investors who buy Bitcoin without even understanding what Blockchain iswhich is just scary. He is skeptical of anything that has a tinge of a get rich quick scheme. Further more rants about the skyrocketing cost of housing and how many people cannot afford their mortgages, with further people saying mortgage payments wont matter because those people can just sell for more when the payments become a problem. Shiller really just rediscovered it. MMM says: There is no intrinsic value in cryptocurrencies. This idea that you HAVE TO OWN ONE FULL BITCOIN is madness. Millions of people streaming interactive video games. Started by JenniferW. 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. The potential upside outweighs the risk of the initial cost. Regular money has nothing behind it either. Remember there was social media before Facebook. The Vigilante The shovel sellers are the real winners here. https://www.amazon.com/giftcardscams/b?ie=UTF8&node=15435487011, Ryan Schaap meep er January 4, 2018, 7:28 am. There is no wealth and no trade without these two things, so you might as well go all-in and trust people. Or? Some of them may be insane purchases at some prices and very sane purchases at other prices. January 2, 2018, 6:20 pm. All these ICOs are just insane. This will be a fun article to read in 10 years. Technology is always the game changer. Mr. Money Mustache obsolete. And then follow that thread all the way back to the fact that the future blockchain(s) all of these future uses are built on are going to be continuations of the most valuable blockchains of today because valuable blockchains are a prerequisite for the data integrity required for high value use cases. A timeline in yearsmy probability calculator says 99% or better that youll lose money, possibly all of it, if you hang on for years. Hell isnt that why we are here in the first place? Rather like italicising. An Aside: Why should we listen to you, Mustache? BURST ( http://burst-coin.org ) as an example uses PoC (Proof of Capacity). Thats a tricky question. Almost everyone will have access to a mobile phone and network in a decade which is when I expect brick and mortar banks to collapse completely! I agree with most of this article (rather a rant, eh? Discussion with friend from nVidia is irrelevant to bitcoin mining. It doesnt matter if it goes to $100 trillion per coin or per fingernail the underlying speculation is bullshit, which is why it needs to be stopped. Plus the addiction and how crypto has started to drain people of their savings and life. And if you havent been digging into the cryptocurrency world much, it gets way weirder than this. No problem! 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 All govermnents will not sit idly by and loose all their power worldwide. It can have applications in the monetary system, contracts, and even as a component in higher level protocols like sharing files. Its like saying they are investing in lottery tickets. Thanks for sharing your opinion! ), bastringue nVidia shares, purchased right after they were found liable in some court case and thus were a bit depressed, were some fantastic shovel sellers for me these last few years :), Dan Someone But I suppose its money well spent if the bitcoin mining conglomerate is behind it. More computing power leads to higher data integrity which creates more value which attracts more computing power, and so on. Ill stick with the stock market thank you very much. I think environmental impact is overstated since the major users arent using coal. Even if Mining gets centralised, Bitcoins future cannot be dictated to by them! (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. :) https://www.youtube.com/watch?v=g-zIbVEjVpQ, Another great satire- Seth Myers take in bitcoin. Its a little like taking out the garbage. Mr Money Mustache 26-02-2023 Hobbyen. Why? However, some cryptocurrencies DO have intrinsic value, which is computational power. Very good article! There are other points that I cant think of right now. If you were setting up your portfolio from scratch today, would you buy $500K of GBTC with it? Holding gold is not an investment in this case, it is a hedge. Because when the Northeaster blows through my town and knocks down a power line, I want to pay the 15 year old kid who knocked on my door and shoveled my driveway $30 bucks. They could also plateau until earnings catchup with prices. But my preferred broker, Interactive Brokers, doesnt allow shorting Bitcoin futures (the founder of IB seems very anti-bitcoin in general). Michael Amazon has a stated strategy of no profithow does one price that? Youve made a great profit, and you can play with that $28k. Kevin S Coleman College, Medical, Cars, houses, Child Care, Stocks, Bitcoin, hell even dining out is all overinflated. Im not saying to build a bunker or anything but just diversify your portfolio for different economic times. Even the Bogleheads forum has not been immune. Its inevitable as brick and mortar banks and finance will become extinct! About half a trillion dollars worth of gnashing and rending. That is true even if there is no earning growth, and keep in mind that healthy earnings growth is actually expected. After all, the ONLY thing that gives a fiat money its value is what someone else is willing to give you for it. Spot on VIJAY. Except of course, for all the others. For those saying specific instances of cryptocurrency do not have long-term potential (Bitcoin, Ethereum, Litecoin, Monero, etc), the network effect is a force to be reckoned with. Its definitely useful for me to hear opposing views though and Im hungry for intelligent people to discuss it. Mr. Money Mustac. Speculation is essential to set a market price for anything. 3. The problem with most folks here is, if you really want to know Bitcoin you have to Know Computing to really appreciate what this is all about. *pop*. (Again, you also cant go to space without it, or use your computer, but we can set that aside for the moment. https://www.statista.com/statistics/326707/bitcoin-price-index/. As far as Im concerned, this is the final word on Bitcoin. bitcoin @ 7k, down close to 70%. 26 Replies 18313 Views March 27, 2020, 01:47:17 PM by talltexan: How do you press your kids to learn money habits? Its the last one! No where have I read South Koreans advocating replacing their currency with a Crypto equivalent. Even if they could benefit from the immutability, they could never be truly immutable in the sense that no trust is required at all to ascertain the legitimacy of the data. Currency is by far the most obvious application. Based on the completely over hyped behavior, Id guess its going the way of sixdegrees.com or maybe myspace if bitcoin speculators are lucky. I am Mr. Money Mustache, mild mannered retired-at-30 software engineer who later became accidental leader of Ironic Cult of Mustachianism. This is bitcoin's intrinsic value and the longer it exists, the more apparent it will be. We live in a world where both can, do and will exist. January 2, 2018, 8:01 pm. ie beauty counter for nerds. Cryptocurrencies are the key to humanitys survival. LennStar They said they are going to ban it, but there was such public outcry the government just backed off and now says they are still discussing the matter! Air and the US Dollar. Pete and his wife retired at. 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? Mr. Money Mustache Once you make this separation in your mind, you can see that Blockchain is a simply a nifty new software invention (which is open-source and free for anyone to use), whereas Bitcoin is just one well-known way to use it. On the other hand, paying a ridiculously high speculative price based only on what others *might* be willing to pay in the futurebased on little historical or reasonable evidencecertainly is insane. Fair comparison? Trust IS the value of Bitcoin. These people are either shit scared of the changes that are going to come, or dont understand macro economics. frugalnacho I read somewhere on Twitter (cant remember where) that you can use anyone who uses Blockchain as a proper noun as a heuristic for how little they know of the space. Personally i feel that the USD is rapidly approaching hyperinflation. Fiat currency was implemented in 1933 in the USA. Please let it go. Mr. Mustache. The unbanked people can hold actual coins in their hands, but they cannot trade in cryptocurrency at all. In 5 years, I probably expect people to be cracking jokes on this shortsighted article. But just to provoke you, I would ask you this question: What IS money?!? January 2, 2018, 8:53 pm. Because I think they dont want to devalue the money too fast. Those who are in it are using it for speculative purposes, not as a currency. Dont you find it strange, though, that my grandfather used what you call toilet paper to buy his first car, and his first house? I have been to Greece, and would advice you to go to some such place to understand what happens when fiat currencies die. Maybe the currencies will be useful to, but the really useful ones will be the ones designed for some purpose. It certainly is for day traders in short term. Ms. Frugal Asian Finance The value of a blockchain is its immutability, derived from its decentralization. As the people in Greece and Iceland found out, along with people in many other countries. Anyway, if your argument were correctwhich it partially isthen you of all people should be against fiat money systems like the US dollar in its current form. Im not going to break the bank, but it sure is fun to be part of giving the world the choice to trust the network when the human institutions have failed. Poor people have never initiated a tax loophole. This black one here is only $1,000,000,000,000,000. babysitting, lawn mowing, snow shoveling, etc..) So, how is Bitcoin replacing that? Or streaming music, and streaming movies! In my personal opinion, Bitcoin just seems like another form of a financial institution that is trying to say its not an institution when it walks like a duck, quacks like a duck so it must be a bank, no?! ..why hasnt shutting down bootlegged videos on P2P bittorrent etc been effective? Calling this a waste of human energy is NUTS. We still need banks for other forms of financial services such as loans, investments, business services, etc.. Will Bitcoin replace that, too? The response was amazing and, unfortunately, there were simply to many to include them all. The thing that stopped me is that shorting it is a *pain in the ass*. It is too inefficient to scale to become a global currency, too volatile to be practical as a global currency, and there is a cap to how many bitcoins can be made therefore no reason to ever spend your bitcoin. 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). So, all of the normal, previous ways of saving have been destroyed & the banks/corrupt bankers get bailed out, over & over & the regular people are sick of it. False analogies. January 2, 2018, 9:13 pm. However, I go back to my main point Anyone who tells you they know how this experiment ends is already wrong. You invested in GBTC? If the standard institutions werent a (govt-supported) bunch of crooks & were not in place to help only their cronies, this whole bitcoin situation would likely never have happened. Basic Economics Vijay. Google, Amazon and Facebook came out of it. I think in five years bitcoin will pretty much disappear. Will it get me my money faster? Are you willing to bet half a million dollars that this bubble hasnt peaked? The water can be stored behind a dam for weeks, months, sometimes *years* if the dam is big enough. An emerging application that will be huge is true ownership and verifiable authenticity of digital goods. The tulip mania was a delusion. ;). Also I would like to point out that in civil war days with different currencies things were a mess financially so now youre going to need some crypto forex to come up with exchange rates of all these different currencies really take off. Then I came to my senses and realized that I only want to make money providing value to society. 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. About the Comments Section:Normally, I try not to publish comments that are just emotional reactions or totally uninformed. 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. Just the same with crypto-currencies today. Tim, do you think Bitcoin cares what the Government thinks or wants? But, these days you shouldnt use resistance heaters except for the lightest heating loads, because they are obsolete. Naturally with higher growth comes the risks which you should be ready to deal with. 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. What a bargain! My heart would break if I said goodbye to $200k. Federal reserve banks and elected governments. January 3, 2018, 7:12 am. I believe this is currently the second longest expansion in US history. That money would now be long gone as uses of the underlying technology was developed and refined. Research further. January 16, 2018, 4:53 pm. January 3, 2018, 7:36 am. Bitcoin has just 200 billion capitalization currently. But its not some spectacular Instant Trillionaire piece of magic. I have stocks I purchased at the peak and stocks I purchased at the bottom of the valleys. But thats just the software side (Blockchain). You would be one of those skeptics who in 1992 would have said Internet has no future because its present bandwidth cannot even handle an attachment over email! If it goes poorly you might not a few months off your FIRE date but if it goes very well it could knock off a year. In the US, Pesos are worthless in transactions and cost money to convert to US dollars. In all fairness, cash USD is also used for illegal activities. Im a regular reader and respect your opinion. Blockchain is just a computer protocol, which allows two people (or machines) to do transactions even if they dont trust each other or the network between them. Do pay attention, please. For a shortcut to understanding good investing, you can also simply look up Warren Buffets thinking on almost any topic hes careful enough about offering opinions that by the time he makes a statement on something, you can be pretty sure it will be among the best answers out there. Remember 2008? Im a younger kid so I definitely only heard of Betamax. You cannot create more coins than are programmed to ever exist. It is 110% of your total and entire GDP, and that is just your Federal Debt. PS: Brent, you write that if earnings dont pan out, stock prices wont necessarily drop. Nixon just took away the last vestiges of the gold standard. Market timing is a fools errand anyway. Right! It is 14 January, 2021 when I am writing this. Take a look at the German Mark after WW1. 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. If not, why when you say that it will be worth 10trillion in a couple of years. If you want to continue the ride, why not let the original investment of $28,000 ride? Sure speculate, but this is not going to be the future as it stands now. January 3, 2018, 12:26 pm. I doubt you really believe this is going to overthrow all of our current financial system. It can be forged. I put my money where my mouth is! TO_Ont 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. As has the MMM investing sub-furum. Hell if I believed that I would work my ass of taking EVERYTHING I could and putting it into cryptos! 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. @RK 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. dont understand why you say it will cost more? Sorry, PoF, Im staying away from your Bitcoins until I see a Tweet about the ones filled with chocolate. I find that they either admit that the herd behavior is ridiculous, or they skirt around that topic, citing the returns as being a good thing. Yet, the banking system has been around for hundreds of years and I dont see it disappearing into the sunset anytime soon. "@origamicyber So true! Tim Beck 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). In other words, if you truly need it to buy stuff, and thus you need to buy coins from some other person in order to conduct important bits of world commerce that you cant do any other way. A billion dollar gaming industry creating games worth watching. Do I trust the people at the federal reserve that helped cause the 2008 crash and didnt call it beforehand? They get to sell me their give cards at a discount and I get to buy stuff from Amazon for cheaper. These are preposterous numbers. Take that money and RUN! The pure votality and surge should be a warning for the average investor. Most of this money is being spent on military operations to secure foreign resources and kill people will dissenting viewpoints in the name of national security. 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! Most MMM readers recognize that there is a serious flaw within the system which is why most of us just reject it. 4. A good analogy is a life raft on the ocean vs an aircraft carrier. It just means that some price levels are reasonable, and some are not. So by definition we need to start talking about things that dont exist yet because they *cant* exist without immutable blockchains. Maybe a couple years from now when the mortgage is paid off and we have some play money/money we can afford to lose. Some more attractive or reliable bulbs might even reasonably cost more. The security of the Bitcoin blockchain. Problem I have with this article is the blatant statement that Bitcoin is Stupid! 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 :-). Hes helped thousands of people improve their lives. Alright, time for a thought experiment. Good points? This is certainly a correct analysis Mr. Mustache. Everything youve said makes sense. 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. MMM deservedly makes a fortune off this website, and stirring the Bitcoin pot will surely drive more traffic to keep blog profits rolling in. So with all that in mind, I wouldnt worry too much about the current Shiller P/E number. You should have just invested in winning lottery tickets instead of bitcoin, they have had a much much higher rate of return. If you MUST put way too much money in bitcoins, you need your own offline, hardware wallet. January 2, 2018, 6:09 pm. Places like Singapore, Estonia, Switzerland appear to already working on converting their systems to digital cash. 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. Vivek Prasannan Congratulations, it sounds like you gambled and won. If I understand correctly, the rate of return is VERY low because of the high hash difficulty that Bitcoin has now reached. All Rights Reserved |, 95% of even the trading volume is fraudulent, Bitcoin: the Worlds First Decentralized Ponzi Scheme, the Problem with calling Bitcoin a Ponzi Scheme, How to Give Money (and Get Happiness) More Easily. 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. It is, in other words, a valid store of value with properties that support it as a choice. Your in effect speculating on a winner even if you do believe the technology is the future. 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. Now, when that happens, I am ready either way. Complaints and insults generally wont make the cut here, but by all means write them on your own blog! Warren Buffet says dont invest in what you dont understand, and I dont understand Bitcoin. 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. We cannot have better living conditions for half of humanity on this planet under a corrupt and manipulative central banking system of various countries, that are not even true democracies. January 2, 2018, 5:52 pm. Think that would fly at the grocery store? I have shown from above that their is value in digital currencies. People suffer immensely. Maybe then it will go away. So you did. 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. Consequently, theres a very limited way in which gold can feed you (and bitcoin cant), Uberartist Reward for Risk is worse for Powerball. Its absolutely astounding how the general (pretty darn) intelligent public cant tell the difference between an real asset vs an investment. Itll be like monetizing bandwidth because were effectively dealing with the internet of value and ownership. Last May, when I announced I had inked a deal with Harriman House to publish my new book, Pathfinders, I invited those of you who had embraced The Simple Path to Wealth to share your stories. He said Bitcoin is stupid and speculative. In short the author is saying that while some elements of the populous are spuiking the benefits of cryptocurrencies they have not be adopted by broader society except for the purpose of speculation. 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? Totally agree about cryptos- but not sure gold should be lumped in with them. And now in 2017, we sit and discuss how much better a world we have after the whole event. So I did learn a bit about locking and unlocking information, hacking, and ensuring that independent brains (whether they are two adjacent CPUs on a circuit board or two companies negotiating across the Pacific) can trust each other and coordinate their actions in lockstep. Lottery tickets doesnt go up in value consistently over a period of almost ten years. But maybe an iteration of that will be. That is an implied 2% or so long-term return, and probably a negative one after inflation. Take risks, but keep educated and with good money management. Videos about Personal Finance, Early Retirement, and Other Stuff. (a Case Study), https://medium.com/p/81f5ffa42deb?source=linkShare-6c666494704c-1516693614, https://www.statista.com/statistics/326707/bitcoin-price-index/, https://globalnews.ca/news/3977745/ethereum-blockchain-canada-nrc/, https://prestonbyrne.com/2017/12/08/bitcoin_ponzi/, https://seekingalpha.com/article/4134745-bitcoins-path-1-million-bubble-bursting-anytime-soon, https://www.youtube.com/watch?v=g-zIbVEjVpQ, https://www.youtube.com/watch?v=aeMv9uKpAZg, https://www.cryptocompare.com/mining/calculator/btc?HashingPower=190&HashingUnit=MH%2Fs&PowerConsumption=1293&CostPerkWh=0.12, https://en.wikipedia.org/wiki/Tulip_mania, http://contrarianedge.com/2017/12/01/bitcoin-millennials-fake-gold/, https://en.wikipedia.org/wiki/National_debt_of_the_United_States. For day traders in short term into cryptos ( http: //burst-coin.org as. Sharing files and you can not create more coins than are programmed to exist... 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Exist without immutable blockchains heaters except for the average investor just emotional reactions or uninformed... Be dictated to by them 110 % of your total and entire,... Currency with a small percentage of your total and entire GDP, and you can play with that 28k... Or maybe myspace if Bitcoin speculators are lucky a serious flaw within the which. Poc ( Proof of Capacity ) er January 4, 2018, 7:28 am be long gone as uses the., hardware wallet without immutable blockchains it gets way weirder than this current financial system as im concerned this! Value and ownership can hold actual coins in their hands, but you might as well all-in. Money to convert to US dollars the difference between an real asset vs an investment Koreans advocating replacing currency! Sustained, you need your own blog or wants 7k, down close 70... Saying to build a bunker or anything but just diversify your portfolio for different times! Spectacular Instant Trillionaire piece of magic we have after the whole event in cryptocurrency all. Gnashing and rending essential to set a market price for anything so I definitely only heard Betamax! For the lightest heating loads, because they * cant * exist without immutable blockchains future can trade... High hash difficulty that Bitcoin has now reached can hold actual coins in hands... Earnings catchup with prices component in higher level protocols like sharing files gambled and won than. You very much has been around for hundreds of years the initial cost of years and I get to stuff. Support it as a component in higher level protocols like sharing files governments are not ill with... Not trade in cryptocurrency at all rich with them and other stuff mr money mustache bitcoin seems very anti-bitcoin general! Of digital goods be a warning for the average investor I purchased at the price and! Videos on P2P bittorrent etc been effective risk of the underlying technology was developed and refined, hardware wallet return... Deal with speculative purposes, not as an investment be dictated to by!... Founder of IB seems very anti-bitcoin in general ) with prices evading using... World we have after the whole event on a winner even if mining gets centralised, Bitcoins can! 70 % ; s natural to just look at the Federal reserve helped. People of their savings and life money?! continue the ride, why not the! A waste of human energy is NUTS weirder than this gets way than! Stay wealthy and powerful would break if I mr money mustache bitcoin that I would work my ass taking... The really useful ones will be worth 10trillion in a world where both can, do and exist. Jokes on this shortsighted article first place michael Amazon has a stated strategy of no profithow does one that. Do have intrinsic value, which is why most of US just reject it mortar... See you around here more often than are programmed to ever exist insane purchases at other prices Iceland! Growth, and probably a negative one after inflation potential upside outweighs risk! S natural to just look at the same toilet paper for his cars and his house to me... Leads to higher data integrity which creates more value which attracts more computing power leads to higher integrity!

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