Wednesday, November 22, 2017

Overstock CEO Gets Bitcoin. Do You?

Here's the article. It comes with a nice 11 minute video interview too as well. Just gonna pull out my favourite bits from the article, because I'm lazy to transcribe (the video is better than the article itself though).



You think that’s a bubble? What do you think that fiat currency you carry around in your purse is?

It’s about time the world switches to real money. Either gold or bitcoin.

The real question is not how high can bitcoin go. The real question is how low can fiat currency go—and at the end of the day all fiat currencies have gone to zero and that’s because they end up with irresponsible money printing.



We have all these currencies since Bretton Woods, fluctuating against each other, and maybe the dollar hasn’t gone to zero against these currencies but all of them have gone down 95% ... versus something that they can’t control like … gold and bitcoin. So bitcoin may be on its way to a million for all we know.


2 comments:

  1. Not only are they stealing the purchasing power of their very own money, But because they are the reserve currency, when they print, they are indirectly stealing the value of the whole world currency. I think the next crises will be worst that the GFC, stock all going to the toilet, gold and especially cryptocurrencies are going to the moon.

    I think everyone should have at least some few per cent of their vestment in gold n crypto as a form of hedging for the next big drop in stock. JMO please do your own diligent. Thank for sharing again, GMGH

    victor

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    Replies
    1. Hi Victor,

      I think quite a few people share that opinion that the next crisis has a strong likelihood of being even worse than the previous one. Global central banking policy is crazy now. In the end, who will be accountable? Probably no one. But who will pay the price? Everyone.

      I sleep comfortably at night with my strange asset allocation :)

      Stay safe in crypto Victor.

      Delete

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