(Last Updated on January 15, 2021)
I’m not surprised that we still have plenty of FOOLS that are attacking Bitcoin out of spite and ignorance over their mainstream media channels.. But can we atleast put a little substance behind it?
The stark fact that most of these “finance writers” are clearly defending their egos due to years of misguided and completely incorrect analysis of Bitcoin and our current global economic situation is clear to MANY readers.
Do you really take investment advice from a young, clearly entitled DOUCHEBAG, from San Diego.
Flavor savor goatee and all.
This guy primarily writes content pushing Marijuana Stocks on the few lost 70 year olds that actually would read his nonsensical posts that are full of OPINION and “INSIGHT” but offer no technical analysis or fundamental reasoning.
Complete denial of the MASSIVE bubble we have built through the money printing in 2020 and gross over inflation of stocks
There’s no question that select equities and assets got ahead of themselves over the trailing nine months since the stock market bottomed. However, one investment looks to be the most dangerous of all. That investment, which I strongly believe should be avoided at all costs in 2021, is cryptocurrency bitcoin.
Price to earnings ratios 10, 20, 30x..100x over valuation and this guy is telling us that “select equities and assets got ahead of themselves”.. seriously?
He explains why “Bitcoin is rallying”
Why is bitcoin rallying? Search any number of social media platforms and you’ll get no shortage of responses from enthusiasts. Bitcoin bulls often suggest that its competitive edge, community consensus, and game-changing potential to transform payment processing made this rally easy to predict.
- Competitive edge – are you referring to it being the ONLY hard asset that is anti-inflationary in a time where the dollar is devaluing at up to 16% per year?
- Game changing potential to transform payment processing – WHAT!? NO Bitcoin expert is yelling about conquering PayPal, we never were.. It’s about taking out the dollar and giving financial soverignty to the individual. This argument is a non-starter – you do realize PayPal, CashAPP, Square, they have all INCORPORATE Bitcoin.
- Community consensus – I’m not even sure what the f*%k you are trying to say here..
Sean now lays it ALL out for us – bringing his wealth of financial knowledge and technical expertise to the table.
As for me, I don’t believe bitcoin is unique in any way, save for being one of the preferred investment mediums on cryptocurrency exchanges. In other words, if investors want to buy a less-popular token, they’ll usually need to exchange their fiat currency to bitcoin first before making their purchase. That, my friends, is the only true utility that bitcoin serves.
Below is a growing list of reasons I believe bitcoin is the most dangerous investment of 2021.
“Physical gold is considered scare because we can’t make any more gold than what can be found and mined on planet Earth” That’s not the case with Bitcoin. Community consensus could lead to an increase in the token limit. “
- Gold is inflating at a rate of 1.5-1.8% yearly
- Gold supply is GREATLY influenced by demand – miners throughout the world ramp up production as price increases, stifling gold’s “anti-inflationary” properties and turning it into a normal commodity in today’s age.
- Gold fails against Bitcoin in EQUALITY and ACCESS for all people – it’s expensive and difficult for the average person (especially lower income groups) access many parts of our financial system, including trying to setup a brokerage account and invest or go buy Gold directly than need to store it securely
There is “minimal utility”
- The only asset in the world that has true decentralization (no owner, no CEO, no government – it is peer to peer)
- The only asset in the world that is resistant to Government Corruption
- The only asset in the world ALL humans can access without any discrimination, entry fees, or market limitations for their countries
- The only asset in the world fully ran BY the investors – build and manage your own node, mine the asset from your home, trade any fiat currency in the world for BTC
Yeah, Sean, how HIGH are you?
Keep pushing all those Marijuana stocks to your followers.
It’s not a store of value
Bitcoin enthusiasts do not want to equate Bitcoin to Gold.
There is no competition – it’s over, gold lost.
Bitcoin does EVERYTHING better.
But let’s take a quick look at being a “store of value”.
- The dollar is losing 10-16% in purchasing power EVERY year now as the Federal Reserve is continuing massive spending programs on bonds, treasuries, and all sorts of junk.. Not even just the stimulus support for COVID.
- He mentions volatility – sure, on a super SHORT time preference, but if you had a low time preference (like most successful investors i.e. Warren Buffet) it is the best investment in the past decade.
- Sean talks about the halving as if it’s a bad thing, he does not reference Moore’s law, computing evolution, or the reality of hard money.
Do I even need to rebutt the above arguments?
NOT YOUR KEYS, NOT YOUR COINS!
We all hold our own Bitcoin – it is the most secure and ONLY decentralized blockchain in the world.
You have financial sovereignty holding your own keys, your own bitcoin, and having no influence, limitations, fees and controls being applied to your from the traditional finance system..
“Virtually no barrier to entry”
No shit, access for all?
Ever heard of equality lately?
It’s bad that all can access without any barrier i.e. banks, brokers, getting their grubby hands and control on YOUR investments.
Oh but wait, he’s trying to discredit Bitcoin because “all it takes is some time and money to develop blockchain with or without a tethered digital currency”.
It’s that easy to produce what Satoshi Nakamoto did?
You can barely write a 500 word article with NO substance, NO charting, NO financial advice.
I wrote this rebuttal in 30 minutes and it has more substance than your entire catalogue on “Motley Fool”.
Anyone can purchase Bitcoin – there are no barriers to entry and a douchebag like Sean lives for the traditional finance system that he believes will carry his career and himself to wealth.