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Bitcoin might not have any evident value…

Bitcoin might not have any evident value…

— Wences Casares

…It might be tough to understand it if you live in the United States, but I am from Argentina. My family has been in Argentina for over a hundred years. And the government has taken all our money away and bankrupted us three separate times over that time — seizing bank deposits, inflating us twice out of existence.

So Bitcoin is a way around that. Governments can’t control it, they can’t seize it,  it can be sent instantaneously.

Look, the stupidest thing anybody could ever do would be to put more money in bitcoin than they could afford to lose 100% of, because there is a non-trivial chance that it goes to zero.

The second stupidest thing you could ever do is to own no bitcoin whatsoever, because there is also a nontrivial chance that it could go to $1,000, $5,000, $10,000, $50,000, $100,000 even a $1,000,000 per bitcoin.

My advice to people who are interested is to put 1% of your liquid net worth in bitcoin… and then forget about it – do not trade it, do not do anything with it, and it will be zero or it will be worth a lot.”

Bitcoin is not an investment. It is not a speculation. It may or may not be a durable form of money; time will tell…

Bitcoin is not an investment. It is not a speculation. It may or may not be a durable form of money; time will tell…

— Bill Bonner (link)

You may make a lot of money in the bitcoin bubble. Or lose it. Either way, don’t take it seriously. You should treat it like a dollar bill on the sidewalk. If you are lucky, you will pick it up before it blows away. If you are unlucky, you will chase it into the busy street and be struck by a crosstown bus.

Easy come, easy go – like an uninvited relative. Neither celebrate its coming… nor shed a tear at its departure.

What good is such money?”