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Why Bitcoin is Stupid

Why Mr. Brent Weaver January 2,8: Fiat currency fluctuates too, but its swings are smaller as a percentage of its total market cap. Best exchange ripple called ripple or xrp internet became an amazing avenue for wealth. Vijay January 3,2: The Wealthy Accountant January 2,6: Joey Graziano January 2,6: Please let it go. TEDx Talks 2, views. I remember about 20 years ago the starry-eyed optimists predicting the end of brick and mortar banks within a decade or two…. You can keep saying its a official bitcoin cash client ethereum reward for solution for eternity. Alright then, do you have all your money invested in cryptocurrencies? Monetizing debt and inflating the monetary supply is eroding our purchasing power and wealth. BPA January 2,6: A lot of stocks never pay dividends. Also, bitcoin lacks value in Kenya. Rule of thumb is never put everything in one basket. Now they trust the mathematics, and the lack of centralized human control. Some companies are already testing it in main net as well!

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I buy a stock with the expectation that the company will perform and the value in the future will be higher than it is today. Faster and cheaper transactions improvements are being made, Lightning network. Luca January 3, , 3: Ideally something not too specific to bitcoin, like I dunno, power equipment? I agree with you, Chris. China is also a leader in renewables space. TED 1,, views. The truth about global warming - Duration: 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. Real Vision Finance , views. Various cryptocurrencies, ranked by how many people have been fooled. Without that money is worthless as a store of value, which also makes it worthless as a long term stable median of exchange. They were literally carting around wheelbarrows full of the note because the hyperinflation the government produced killed the currency. It also helps to have wise, centralized humans the Federal Reserve system and other central banks guiding the system.

The truth about global warming - Duration: Bitcoin values are delusional. Eric January 7,4: I agree with Tawcan. We end up in Utopia? People fall in love with works of art. Your fiat paper would be worthless in 10 years and you will be washing your ass with it! MMMers have unplugged from debt, but putting all faith in the designers of The Matrix seems ironic. Bitcoin is actually a saviour that provides the world an opportunity to get out of total mess without fighting a WW3! I put my money where my mouth is! Tawcan January 2,5: I am as much a Mustachian as you all are, except for this one article that I simply cannot digest frankly! Putting evaluation aside, what boggles my mind is how much electricity is being wasted on bitcoin every single day. Fox Business 99, views. TomTX, nothing was answered. In that forest there are old bricks. This is the same exact dynamic as tulip bulbs: FirstPrincipleThinking January 14,1: I have been hearing Bitcoin is a scam and a bubble since the time it was bucks! That is when we are talking equality and progress for all! I buy ledger nano s best buy cold coin wallet only shake my head.

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Good points. And it gets worse: However, in when Facebook was being launched it was looked at as a funny little friend site. No doubt we are in a crypto mania now, but the concept of a global digital currency has been coming since Biblical times. How much are these companies worth today? KEV January 15, , 4: Fiat currency fluctuates too, but its swings are smaller as a percentage of its total market cap. You WILL be wrong. Tom January 4, , 9: Bingo, so far you are the only one that stated the true value of any nation backed currency, notably the USD. Most of us, especially in the US and Europe, are free and are allowed to accumulate wealth through education and hard work. 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. Mark April 25, , 3: Vijay January 3, , 4:

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. You WILL be wrong. Gold is so soft, you are better off stealing some tin foil from your neighbors. Maybe the currencies will be useful to, but the really useful ones will be the ones designed for some purpose. Dollar vigilante bitcoin book bitcoin taxes federal Nicholson January 4,7: Serge October 3,4: Mustachianism — the mental training that gets you to very early financial freedom — requires you to evaluate inefficiencies in our culture and call bullshit upon. You are probably right that reddit build bitcoin atm bitcoin map has some more room to grow, but speculating on the perfect exit point is no more an investment strategy than a trip to Vegas is. You have unwittingly tripped up your own argument. John January 3,2: TEDx Talks 2, views. Money Mustache January 2,7: Bitcoin has very little usage. Grover January 2, buy bitcoins with no fees i want to send coin from electrum to coinbase, 5: Pure bitcoin cash ledger how to bitcoin miners best value arguments have an implied slippery slope attached to them, and the description of benefits and priorities are largely arbitrary. My investment strategy will continue to be more couch-potato and real-estate focused.

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 coin mining profitability decred mining profitability only to short it! If you want just one reason it is that governments will not allow it. Do you know the state of US debt recently? That would be like saying corn is a speculation or coffee is a speculation. This article is pretty below par in its research and very one sided. The growing demand for more electricity is the most serious issue with Bitcoin, IMO. I believe MMM has missed the point completely in his rant. Have you done this due diligence for all Fiat Currencies printed and circulated every where? Smurph January 15,1: Danny Livewire January 3,3: Because it is. This is the greatest use of human energy and capital the world has ever seen. Bill January use trezor with smart phone bitcoin peer to peer exchange, Governments have no choice. Bitcoin is only 1060 hashrate ethereum tuning 1070 6 mining rig psu if it truly becomes a critical world currency.

DW Documentary 1,, views. Let them hold on to their fiat currency if they like to. 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. When everyone hypes something as the solution for everything it is going to be bad. Now imagine that the same person also created a product called Cancer-Pill using their own instructions, trade marked it, and started selling it to the highest bidders. Brent Weaver January 11, , When you have a more efficient and fluid system that has zero manipulation from individuals, who will go back to a corrupt and manipulative system as it exists today? Alright then, do you have all your money invested in cryptocurrencies? The next video is starting stop. Vijay January 21, , 7: How much do you have invested in BTC? Brian January 4, , 1: Humans are conditioned for shortcuts in all aspects of life. Even a significant percentage would be really stupid. And so my joker friend, how many Fiat currencies exist on this planet, have you even counted? Noticed this ad on the corner of a website recently … because we ALL need daily updates on an obscure piece of niche software technology! They are very valuable and the price is sure to rocket! And likewise you can scratch off the idea of any government backed cryptos, because those are by definition centralized. What a bad article.

The world is changing which many westerners cannot bitcoin cloud mining scrypt btc blocks mined. Very interesting. Qaddafi was taken out because of the Dinar. Currency might be the smallest part of that, in the way that web and streaming video traffic dwarf simple email traffic. Basically Mr. Most MMM readers recognize that there is a serious flaw within the system which is why most of us just reject it. I saw a few currencies try out Proof of Stake, like Ark, where the holders of the currency choose who they want to do the mining. Should I just get out now? Satoshi, while extreme in his views, watched the housing market collapse due to the fraudulent behavior of the banks and the government that backs. Chris January 2,5:

Simple answer is, they cannot have a secure private Blockchain. Because it is. The population has lost trust in the institutions of governance with good reason. Bitcoin and other Cryptos are attractive for that reason and that why people spread this misinformation about it to sway people from backing it. 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. And so my joker friend, how many Fiat currencies exist on this planet, have you even counted? The supply of Bitcoin is known perfectly, whereas nobody knows how fast your fingernails grow. Cubert January 3, , 1: They have been making a killing. A stock is not a ticker symbol; it is a stake in an underlying business. I have been hearing Bitcoin is a scam and a bubble since the time it was bucks! Digiconomist notes this would make bitcoin the 59th biggest energy consumer if it were a country.

Closer to 85 years than Not going to do this with you. Max Your Freedom January 2,6: Also, for the first time in history, it will soon be possible to make millions of sub-cent transactions efficiently without any significant fees. Lisa January 4,3: We end up in Utopia? Adaptation as currency winklevoss coinbase which is the next ethereum is happening, craigslist accepts Bitcoin, many local shops started accepting, you can even have Mrs. Well said! Just more tulip bulb analogies, glib dismissals. Add to Want to watch this again later? Lastly if you still are convinced that passive income with masternodes how to add different coins to myetherwallet fingernails and bitcoins are synonymous then you may want to contact the Chicago mercantile exchange CME or the CBOE as they both recently added bitcoin futures contracts for investors. For the most part, far from perfect, I am very thankful that it works. Power consumption from bitcoin mining would only amount to a fraction of 1 percent of global demand even in

DW Documentary 1,, views. Of course get out NOW. Given that he vouched for Blockchain, but not for the hype over Bitcoin itself, you seem to be overreacting. The whole economy could stall in time to come, and people are worried about the small stuff. More Report Need to report the video? Bill January 3, , I like reading your posts, as well as all the others, that make specific points about the technologies or markets, that educate, or that offer opinions, or better, opinions with rationalizations. And now in , we sit and discuss how much better a world we have after the whole event. What is the US Dollar pegged to? 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. Fiat currency fluctuates too, but its swings are smaller as a percentage of its total market cap.

This is not going to happen. Ace January 15, , The next video is starting stop. If people are creating an bubble out of it, people is stupid, not bitcoin. This is exactly what I was thinking. TomTX, you can take a horse to the Pond but you certainly cannot make it Drink! 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. Remember that there are plenty of people with money in bitcoin or other crypto who are far from complete idiots. One place where coin mining could considered reasonable is during winter in a home that is already heated with electric resistance heaters. In all fairness, cash USD is also used for illegal activities. Which happened 47 years ago, not Take a look at this shot from the website coinmarketcap. Vijay January 5, , 3: