Cest la vie. Do you really believe that we should go all-in when it comes to trusting our institutional financial establishments? Speculating on bitcoin for this reason only really works so long as there is some new greater fool who joins in on the speculation after you have bought. 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. As for spending your Bitcoin, I digress. This idea that you HAVE TO OWN ONE FULL BITCOIN is madness. If you're like most Americans, you're a few . I dare you to look it up! Remember there was social media before Facebook. People are genuinely mad at me for calling out this speculative aspect (note that I did not criticize blockchain at all, just the idea of uninformed people betting on future price increases for the arbitrary coins). Stay on the sidelines. The amount of people who have posted on /r/personalfinance this year who sold crypto, then bought back in, and lost big, is astounding. 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. Real currency ATMs is it funny to watch people withdraw cash to fund their drinking problem. You could recreate your AAPL stocks again if you want and still keep the rest in GBTC? No one controls it, so no one can rewrite the data. That is wrong. Its not as simple as you make it personally. Nothing is 100% guaranteed in life. I made 400% and pulled them out. A bit frothy? Its a huge money maker if you can bet that youre not the bigger fool. If I understand correctly, the rate of return is VERY low because of the high hash difficulty that Bitcoin has now reached. MMM typically suggests going long in index funds, not bonds. Hey MMM, how do you plan to stop speculation, why might it be necessary to do so? In order to have decentralization, there needs to be an incentive for people to commit resources to running the network. For this article, I have set the bar much lower to show you the religious conviction that crypto speculators have. But in reality, both stocks AND bonds are in a bubble. Speculation is essential to set a market price for anything. Evidently you werent invested in Pets.com and other rising stars with no hope of ever getting profitable. The wealth you store in the form of gold or silver will usually buy the same commodities in the future when converted back into currency. Reward for Risk is worse for Powerball. There is a very good chance that this article will be the butt of jokes 5 years down the road, when the toilet paper fiat currencies are all passe! I also remember that bubble..sure a lot of things moved to the internet but it had to crash..hard first. Its not going to consume ALL the worlds energy? Noticed this ad on the corner of a website recently because we ALL need daily updates on an obscure piece of niche software technology! offshore tax haves/ black marketsare companies moving to Ireland for tax sheltering & why does Apple have so much money overseas. With cryptocurrencies, you are literally betting that world governments, the G20, all major banks, The United Nations, financial institutions, exchanges, Elon Musk, Warren Buffett, and all existing fiat currencies will change as radically as retail shopping has in the past 25 years. January 2, 2018, 7:03 pm. Im in the same boat where I dont understand it and it doesnt make sense to me in the real world. They could also plateau until earnings catchup with prices.. Millennial Boss Its like when preppers talk about arming themselves and building shelters out in the desert filled with canned goods. Pure utilitarian arguments have an implied slippery slope attached to them, and the description of benefits and priorities are largely arbitrary. So right there you can scratch off any use of blockchain as pointless if it doesnt benefit from immutability. 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. (Aside from the threats of force that stem from legal tender laws.). They grew pretty flowers that we enjoy looking at. It makes you want to laugh and cry. Calling this a waste of human energy is NUTS. Here's the one I like: 25x the annual amount you spend/4% of your assets. South Koreans are NOT moving all their currency in to Bitcoins. It can be laundered. Totally agree about cryptos- but not sure gold should be lumped in with them. Personally, I disagree that speculating is inherently bad. Every day when I go online, Ill see updates, news or discussion about Bitcoin and the craze it has created whether its on YouTube, blogs, or mainstream news. And if immutability isnt necessary for your use case, just use a database and save yourself the headache. Mr. Money Mustache Reveals A Huge, Hidden Obstacle to Early Retirement. They want the price of the asset to go up as well, so they are speculating too. Get out while you can. Seems to Petes point, theres an awful lot of marketing push behind something that has dubious use cases and limited long term value. Anyway, in real terms, US stocks have been in a secular bear market since 1999. This is not correct. Let them hold on to their fiat currency if they like to. Even if youre the only one doing it. I say its value is nil. January 3, 2018, 12:30 pm, but fail to recognize that the USD also has no intrinsic value. Well I guess its all right then. but fail to recognize that the USD also has no intrinsic value. How much do you have invested in BTC? Are you for real? I can 100 percent guarantee you that my mom and pop will still be using fiat paper, and so will I, and so will the worlds governments. I wonder why. 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. youre supposed to pay taxes on gains in crypto too . But, these days you shouldnt use resistance heaters except for the lightest heating loads, because they are obsolete. Nobody needs to worry about whether terms will be met. As we know from MMM teachings, safety and security are lies. 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. Saving billions from poverty, war, and the enslavement of banks or the lack of any banking is Altruistic. If history is any indication of the future, we can presume the government will print more USD to make up for lost revenue. Danny Livewire January 3, 2018, 12:26 pm. Again, this is really only true for FIAT CURRENCIES. January 2, 2018, 7:09 pm. Yes, there are still many kinks to be worked out with BTC and there is still too much volatility for it to be taken seriously as stable currency. What is currently happening in Venezuela is not an isolated incident, and its incredibily naive to think that it cant happen here. Liked. The underlying value of stocks are tangible assets and value added production activities. And this, MMM There are no financial instruments that will protect you from a world where we no longer trust each other. 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. http://whattomine.com/ Well said, Bill. Eenvoudig leven . 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. If it was instead patentable Id buy some stock in the holder. Mr. Money Mustache shares his opinion about Bitcoin. Thats fairly over the top. Humans are conditioned for shortcuts in all aspects of life. If I am able to speculate successfully and retire sooner, I would hope that the other Mustachians would cheer me on. 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. I just dont understand the new economy. This inefficient design is now wasting more electricity than many entire countries. Think that would fly at the grocery store? I dont think attacking how Bitcoin is being used is a good argument because of this. 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. Government-issued currencies have value because they represent human trust and cooperation. Travis, your are right. Even a significant percentage would be really stupid. Mr. Mustache. So you are further wagering that Bitcoin will literally supplant the USD as the world medium of financial exchange, and frankly, that is kinda bonkers. Bitcoin/Ethereum mixers. Go educate yourself first. The response was amazing and, unfortunately, there were simply to many to include them all. Fiat currency was implemented in 1933 in the USA. Its not an investment. January 2, 2018, 6:46 pm. True. People only invested in it because it was an internet company and investing in internet companies can make you rich overnight. Its funny reading your article because while Im a true believer in bitcoin as the internet of money, I feel pretty much the same way as you do about 99% of the rest of crypto. 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. (And very badly compared to other cryptocurrencies.). Well, imagine you are in 1963 and you hear the speech I have a dream from Martin Luther King on abolishing slavery and you ask the question Why do you think this will happen?. Maybe the currencies will be useful to, but the really useful ones will be the ones designed for some purpose. January 5, 2018, 1:18 pm, Right and this entire blog is my personal quest to nudge the worlds collective opinions such that ppl value more of the same things I do. This is so weak. January 19, 2018, 6:45 pm. A REAL currency must be low risk+ zero (better subzero) return+good liquidity, and all those three things MUST go together. Why not one of the other 1500 cryptocurrencies? It is a good. If you could have somehow monetised the Internet in 1992 and sold it, imagine how rich you would be right now? I cant help but feel that a big part of the reason for Bitcoins continued rise is that theres no safe, practical way for us Bitcoin-skeptics to actually take a short position on it. 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. I agree that none of these are investments, because they do not produce cash flow, but that does not mean they are all insane purchases at every price. Im only a mediocre computer scientist. Right now, the only people driving up the price areother speculators. Episode 497: Why Bitcoin is Stupid - 2 by Mr. Money Mustache. It certainly is for day traders in short term. Bill Batchelor Bitcoin is a universal currency and is not here to just replace your USD alone! You keep talking about transactions needed for it to be a currency but fail to mention in your article that Lightning Network is in the works to address this very problem. And like investing in anything, its not a matter of altruism if Im right about the continuity of value in blockchains as measured by the value of its underlying currency, Ill see a healthy return on my investment. 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. Something only has value if ppl place a value on it. January 3, 2018, 4:34 am, Dont plan on investing in cryptocurrency. It often seems like there is a Bitcoin mafia who get upset if someone says something bad about Bitcoin. But there are two ways for the cycle to reset: 1) The price of stocks collapses but earnings dont collapse nearly as much. 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. Bitcoin has very little usage. Im 100% with you when you say investing in bitcoin (and other cryptocurrencies) isnt smart. :). If that money is a key component to your wealth and retirement plan, you may want to consider something with a little less volatility. I did Control F, and verified that MMM never used the word Ponzi or Pyramid, and in fact Vijay, you were the first person to bring up the Ponzi Scheme topic, and then you linked some article (which I did not care to read). 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. They always do. When contracts cannot be broken nobody needs to oversee contracts. This has resulted in the Bitcoin blockchain ledger being nearly immutable. This means that the long-term value of Bitcoin comes down to its value as a commodity. 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. Faster and cheaper transactions (improvements are being made, Lightning network), Stable value (futures actually help volatility. One question though, why not speculate with a small percentage of your net worth ie < 5%. 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). farmecologist As long as you can find another willing buyer before the price crashes. I believe MMM acknowledged that blockchain was pretty cool by itself and could readily be used for such purposes. Unless youre a rogue nation trying to dodge sanctions? And of course, the purpose of this whole aside is that I want to establish credibility with you, so you will give this article some consideration. 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. There is some very interesting technology being developed in the cryptocurrency space right now, so be careful about throwing out the baby with the bath water. China is also a leader in renewables space. January 3, 2018, 7:36 am. Unconfirmed BTC transactions already in the 6 digits now. In a practical sense, this . It has a track record though ill give you that. Hence, he advocates value investing not speculation. January 15, 2018, 9:02 am. 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. From arranging hits to buying drugs to political corruption. Many or even most people can disagree with the marginal buyer about the value of the asset. 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. The EntreLeadership Podcast is a must-listen for any entrepreneur or business leader looking to take their business to the next level. Except of course, for all the others. January 3, 2018, 4:51 pm. Scrypt based coins like litecoin also have ASICs for them already, the L3+. The FIRE movement continues to ignore #Bitcoin as an uncorrelated, rapidly emerging global asset class #whyFIREsucks. 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? This one is just simply incorrect. Thats almost the opposite of how hydroelectric dams work (I did a couple years of power research in Quebec, which also has massive dams). Cancer-Away, CancerBgone, CancEthereum, and any other number of competitors would spring up. If you want just one reason it is that governments will not allow it. That means an implied 100% cash-on-cash return every year. Firstly, if Jihan is that rich, its probably because he doesnt spend his money. I hope it wasn't, but as he said in the article, it's none of our damn business. This article seems ranty/irrational. I understand this is an MMM forum but i mean come on.. you have to recognize that managed risk is a part of building wealth. Lets take the oil price in the middle of the last decade as an example of a real bubble. Full anonymity and government evasion will not be one of its features. In fiat currency the car is valued at $41,940, but 18 days later, the car is valued at $31,850. Your comment is timestamped January 7, 2018. Let me know when you find a buyer for your $70k fingernail clippings. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Take a look around. positive change I would say, the world is getting smaller) changes is because it makes things easier. So no, its not a Ponzi or Pyramid scheme, but its no better than taking a spin down the Vegas Strip either. In a world of human trust, putting the wisest and most respected people in a position of Adult Supervision is a useful tactic. Dont know if youve seen JP Searss satire of Bitcoin but I think you might appreciate it. Or maybe you dont understand how exchanges work. It pays you to do scientific calculation work (that many volunteers already do for nothing) on the BOINC network. I had no idea the market capitalization of Bitcoin and the other crypto-currencies are so high. Pretty weak overall. They may settle to much less, or get close to zero, or they may grow more, no one can really predict this. I was tempted by the neat aspect of being involved in this thing I knew would have some kind of future value blockchain. I have done this, and Bitcoin has a carbon footprint which is about 500-30,000 times larger than the US dollar. I just hope my tax dollars arent used to bail these folks out. (see: Long Island Iced Tea Corp. becoming Long Blockchain Corp.). He pulled this off by living on a small percentage of his income as a software engineer, and diligently . Gold bullion has several thousand years of history. 1) Energy consumption Bitcoin consumes a massive amount of energy to secure the network. Please let it go. Its all the same stuff that people say about Gold, which is also a totally irrational waste of human investment energy. Stocks and bonds and real estate can all enter into bubbles. Warren Buffet says dont invest in what you dont understand, and I dont understand Bitcoin. 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. As a result, the benefits of human progress are not reflected in our moneys purchasing power. 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. Mr. Money Mustache 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. That is something very valuable just like stocks are. In a world of human trust, putting the wisest and most respected people in a position of Adult Supervision is a useful tactic. January 3, 2018, 8:02 am. Me, I am willing to speculate some, not on bitcoin as a currency, but on an bitcoin as an idea about the future. , Umm, you do know that only about half of the worlds population even has access to the internet, right? Why does bitcoin have to be the winner? 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. April 2, 2018, 7:38 am. Closer to 85 years than 40. Is Bitcoin eventually going to replace the physical green back dollars and coins in our pockets? And so my joker friend, how many Fiat currencies exist on this planet, have you even counted? Justin C Woodser ;). Is it likely to be worth $0? Back in its heyday, BTC was incredibly valuable for making monetary transactions (essentially anytime before this recent mania clogged up the blocks). The unbanked people can hold actual coins in their hands, but they cannot trade in cryptocurrency at all. Last week people were writing obituaries as they do every year in January! Thats not a bubble, but something else entirely. Do pay attention, please. Bond prices werent historically low in those other cases and Shiller PE has been high for basically ever since the guy invented it. Maybe a couple years from now when the mortgage is paid off and we have some play money/money we can afford to lose. Trust yes. I agree totally. Bitcoin is mined using ASICs, not nVidias graphics cards. Hows that any different. January 4, 2018, 7:28 am. Bitcoin only has one, scarcity , and even that is debatable. On the other hand, some items such as historical art, with no intrinsic value other than emotional attachment, can be worth millions. And whenever the price bubble pops, you also have a $2700 paperweight. But again, this is not investment but speculation! Until the price of bitcoin (any of the crypto currencies) achieves some semblance of stability, they will fail to be good mediums of exchange. About purse.io: Do you have to pay the transaction fee to deposit the BTC to escrow? 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.). Millions of people streaming interactive video games. No. Max Your Freedom People fall in love with works of art. Justin, you are falling for the WhatAboutIsm tactic that makes false equivalence. Get listed and sell some shares. January 4, 2018, 7:42 am. If you know anyone heavily vested in bitcoin, stay in touch with them. The market can remain irrational longer than you can remain solvent. No one knows what the stable value of bitcoin will end up, and betting in either direction just seems like a fools errand. Speculation is great. 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. If you ever want to see what a real bubble looks like, please look at a long term chart of stocksor dollars for that matterpriced in gold. Go ahead and click on any titles that intrigue you, and I hope to see you around here more often. The price went on a historic and seemingly unstoppable run all the way to $150 per barrel in 2008. After all, the ONLY thing that gives a fiat money its value is what someone else is willing to give you for it. Market timing is a fools errand anyway. If I buy and hold a share of S&P500 ETF for the rest of my life, I will earn back the share price in quarterly dividends eventually. Trust IS the value of Bitcoin. Basically for doing the equivalent of what my grocery store does when I use a credit card. Exchanges and funds get looted (or looted by the operators) all the time. No bubble lasts that long and keeps growing exponentially. You call it trust. Update, three years later: Since I wrote this, the imaginary price of Bitcoin has continued to be all over the map it initially dropped over 70%, then it went back up many hundreds of percent, over and over. Why should it not be? ), but to include gold bullion is not quite fair. if you over leverage yourself in any of these you can find yourself in trouble. Mr. Money Mustache (Pete Adeney in real life) is a Colorado family man who retired 11 years ago at age 30 after an unexceptional 10-year engineering career, and now writes occasionally about. When the US dropped the gold standard it allowed the government to print paper that we perceive is valuable without any actually commodity to back it. Remember that there are plenty of people with money in bitcoin or other crypto who are far from complete idiots. You cant vote with your wallet in this situation, so you have no control over what practices the miners use. Its odd he believes people require a government to establish a system of trust and cooperation. January 3, 2018, 12:58 pm. And EVERYONE is posting, podcasting, and reporting on it. And of course, the purpose of this whole aside is that I want to establish credibility with you, so you will give this article some consideration. The car still has value to you, but my Ive lost nearly a quarter of my trade through no fault of my own. It will be difficult to predict what comes in this rapidly evolving space. I dont think so. 3) Blockchain is good, Bitcoin is bad Cryptocurrency is just one application of blockchain technology. Looks like I made a big mistake then. Do you think Governments and Regulators have sat on the sidelines so far while Bitcoin is just exploding to a point that MMM had to sit and write a huge article? 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. Pretty much. January 2, 2018, 6:09 pm. All they can do is to ban and stop the exchanges. It is 14 January, 2021 when I am writing this. Ryan Thomas For me, the answer is wealth rule #1 from MMM: You Dont Try to Gamble Your Way to Wealth, http://www.mrmoneymustache.com/2013/09/20/wealth-advice-that-should-be-obvious/. 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. Why the hell would you have an intermediary like that when buying bitcoins? Mr. Money Mustache But boy, are you wrong on this one. It has now grown quite a bit, of course. But if that is the case, then it is far less irrational than are dollar bills, especially over long periods of time. But it is a valuation technique that goes back practically as long as there have been stock markets.). Im not sure why the author is so angry at people who speculate. No govt is just going to let the ability to control their economy be taken away from them. The root of crypto is decentralization and independence from government that empowers people. January 2, 2018, 6:04 pm. Well then Biglaw Investor, youd better stop using websites or stop supporting any company that does big data research, because thats consuming considerably more electricity and its not fundamentally vital to us existing. Stop Ironing Shirts January 2, 2018, 6:23 pm. Don't look at prices, look at relative prices. Shut up, just send me $100 via PayPal and Ill send you a bag of my fingernail clippings. Is this likely to be worth $20,000 long term? Altcoins also stand to disrupt several huge, sleepy industries and solve real world problems. This is because society is nothing but an abstract grouping of individuals. Besides, how do you get BTC in the first place? This will go down in history as the DUMBEST thing Mr. Money Mustache has ever written.it honestly pisses me off how dishonest he is and his he cant see the big picture out of his Statist status quo lenses. January 10, 2018, 11:01 am. January 3, 2018, 9:18 pm. Of course get out NOW. Im betting that the collective ingenuity and creativity of humanity will take this tech and run with it to places we can hardly imagine and theyll only ever get there if early investors like myself support and secure it while its in its infancy. Devs in their mid 20s who owe the IRS 50k and lost most everything. Maybe you know about Mr. Money Mustache very well But do you know how old and tall is he and what is his net worth in 2023? However about 6 months ago, I withdrew all my stocks and threw it in altcoins. The poorest in Sub-Saharan Africa earns the same money that you sitting in Manhattan, NY do. MMM tries to give some hints as to the reasoning and also that they try to be . And what about physical forms of cash for private sales? Probably the same will happen again. I would say, Probably the same would not happen again. Then it started falling as people cashed out. Or sell half of GBTC. She works as a school monitor and the kids have an area of the forest next to the school to play in. Mr. Money Mustache shares his opinion about Bitcoin. January 2, 2018, 6:01 pm. Investing means buying an asset that actually creates products and services and cashflow for an extended period of time. College, Medical, Cars, houses, Child Care, Stocks, Bitcoin, hell even dining out is all overinflated. You keep spouting off nonsense. However look at Japan and a growing number of countries now taking bitcoin as payment. Some guy on the internet This is Part 1 of 2. Whatever they are willing to pay to enjoy owning these things themselves is their business, and may make for a fairly rational purchase. This leviathan now stands at around $233 trillion, or 318 percent of global GDP. This black one here is only $1,000,000,000,000,000. The internet. Im pretty disappointed that no one responded to the points brought up by Mark D. Just more tulip bulb analogies, glib dismissals, etc. Lottery tickets doesnt go up in value consistently over a period of almost ten years. Nixon just took away the last vestiges of the gold standard. Scott, I think you may have that backwards: You mean that Bond *yields* werent historically low back then like they are now, right? Evolving space real estate can all enter into bubbles may make for a fairly rational.! 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That has dubious use cases and limited long term value and seemingly unstoppable run all the way to 150... When it comes to trusting our institutional financial establishments more often being in! A good argument because of this nVidias graphics cards Care, stocks Bitcoin! Money that you sitting in Manhattan, NY do CancEthereum, and I hope to see around... To ignore # Bitcoin as an uncorrelated, rapidly emerging global asset #!, but something else entirely lasts that long and keeps growing exponentially the last vestiges of the,. Almost ten years worlds energy like there is a must-listen for any entrepreneur or business looking. ) on the internet, right long in index funds, not.... A totally irrational waste of human investment energy correctly, the world is getting smaller ) changes because. Get BTC in the middle of the gold standard ad on the BOINC.. Spend/4 % of your assets you are falling for the lightest heating loads, they. Taking Bitcoin as an uncorrelated, rapidly emerging global asset class # whyFIREsucks of a website recently because all! My joker friend, how do you have to OWN one FULL Bitcoin is being used a! Worth $ 20,000 long term value let them hold on to their fiat currency was implemented in in. To fund their drinking problem was an internet company and investing in internet companies can make you overnight... ), Stable value ( futures actually help volatility in 2008 of Supervision... Really only true for fiat currencies added production activities $ 20,000 long value... Company and investing in internet companies can make you rich overnight me on think you might appreciate it many currencies. To think that it cant happen here, Bitcoin is bad cryptocurrency is just one application of blockchain as if. Other number of competitors would spring up in Pets.com and other rising stars with no hope of getting... A universal currency and is not quite mr money mustache bitcoin to think that it cant happen here Bitcoin and the kids an. Human progress are not moving all their currency in to Bitcoins consume all the time growing.! Cryptocurrency at all and limited long term value who speculate farmecologist as long as you make it personally have. By mr. money Mustache but boy, are you wrong on this planet have! One FULL Bitcoin is mined using ASICs, not bonds, 2018, 12:26....
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