TFM's position on crypto seems to be purely ideological and not at all pragmatic.
Nobody is advising to commit 100% of your cash into anything, let alone crypto.
But if there's a non-zero chance that BTC will 10x or 100x within a year and you don't put at least 1% of your disposable income into it to hedge against market fuckery, then you are not investing, you are doing emotional/ ideological gambling.
> bitcoin is not real for the same reason that United States dollars are not real
Let's assume that's true. So what? How does that make any difference to you making or losing money next year?
> People simply can add more digits
Incorrect. With XRP + Ripple, they definitely can. XRP is a deliberately inflatable (i.e. infinite) currency built on a protocol that intentionally replaces the SWIFT system. This is precisely why XRP+Ripple has BRICS adoption.
Here's one of the actual value propositions of BTC explained:
Condensed version of the argument: https://iv.ggtyler.dev/watch?v=spDS7q6uRkY
Longer version: https://iv.ggtyler.dev/watch?v=PInd7uRiGjs
I am not talking about scarcity I am talking about
1 You can not eat money or bitcoin
2 You can not shelter yourself from the elements or weather with money or bitcoin
3 You can not use money or bitcoin as a tool to build things
4 You can not use money or bitcoin as armor
5 You can not use money or bitcoin as a weapon to defend yourself
6 Technicly you can illegally burn money to start a fire to keep ypurself warm or to wipe your self which bitcoin does not work for
Who cares? You can't do any of the above with gold or silver either, but no-one disputes it's clear value.
Literally no-one is making the argument you are. It's a dumb category-error argument.
Max Igan explained
If you are going to use bitcoin now to buy the tools you will need to survive the internet shutdown you can
but after the internet shut down or after you need an ID to use the internet if that happens any remaining bitcoin you have will be useless to you because you can not access it
Now maybe we will be lucky &there will be no internet shut down and no special ID to use the internet
Max Igan suggests if you use it to only do so before that unknown deadline
In a desert it is sometimes better to have the same weight in water than that weight in gold and diamonds
Again, who gives a fuck?
I'm literally talking about making money next year instead of losing money next year.
Conflating that with a speculative global disaster is a non-sequitur.
Look if you find a way to make money quickly with bitcoin then I do not object to it
I am just saying you might need to spend some of that money you make with bitcoin to prepare for any potnetial disasters before the internet and your access to bitcoin is shut down if that happens which it might not
I am not going to debate whether or not you can make money on bitcoin
I am not saying whether or not a specific disaster will happen or when it might or might not happen
Let me summarize your entire point:
"Yes, I agree with OP but don't let your gains get trapped."
No shit Sherlock. The exact same advice applies to stocks, bonds and metals. Even moreso since we already have precedent for govts stealing/confiscating every single one of those.
@UncleIroh Some people even recommend putting a small percentage of your portfolio in something risky . And if that goes up you win a lot but if you lose it's nothing to lose sleep of.
Yes, it's standard investing practise. Doing anything less is irresponsible.
@UncleIroh Also sometimes even betting using fundamentals can fail . So at this point nothing is useful in clown world .
Lots of people found that out this year, to their cost.
@UncleIroh TFM has been trolled too many times about crypto going to the moon so he doesn't take it seriously.
Alse we're in the infancy of crypto so it makes sense that most people don't see the utility in it yet.
Has nothing to do with being trolled and everything to do with responsbile, non-emotional investment principles.
@UncleIroh I agree with you in principle but IIRC he said something along the lines of this in a past stream.
I still have a small part of my portfolio in crypto so I don't care either way.
@UncleIroh
I am not opposed to putting some of your money in bitcoin as a short term strategy
But bitcoin is not real for the same reason that United States dollars are not real
People simply can add more digits without creating any new physical object with a practical use that is different than the previous object it was traded for other than the value people imagine it to have & are thus willing to trade for
Unlike seeds + sunlight, dirt & water becoming a edible plant with more seeds