"Avoid Bitcoin Like the Plague" -Vanguard Founder Jack Bogle

Jack Bogle is one of my heroes bro, I think he's implying to avoid Bitcoin, go for Bitcoin Cash

>“Bitcoin has no underlying rate of return,” said Bogle, 88, who started the first index fund in 1976. “You know bonds have an interest coupon, stocks have earnings and dividends, gold has nothing. There is nothing to support bitcoin except the hope that you will sell it to someone for more than you paid for it.”

>gold has nothing

So avoid bitcoin and gold like the plague then?

He spent his life building the lowest cost index fund owned by the holders of the find themselves. Vanguard has contributed more to the world then you have retarded mouthbreathing face a trillion times.

Go read a book before sprouting the dumbest shit

Kys retard

NO GOY YOU HAVE TO BUY STOCKS AND PAY ME FEES TO MANAGE THEM FOR YOU YOU ARE NOT SMART ENOUGH TO INVEST YOUR OWN MONEY

Be a good goy and stay away from bitcoin

this desu
Who /Boglehead/ here?

Nobody gives a fuck.

How do u buy bitcoins

>just wait till the evidence supports my position and we will talk

Stock market fags on suicide watch. He's full of shit, like Dimon. Vanguard Bitcoin fund in 6 months guaranteed

>fist is evil, valueless, inefficient, etc
>that’s why I want crypto to moon so I can cash out into fiat

>YOU HAVE TO BUY STOCKS AND PAY ME FEES TO MANAGE THEM
Umm sweetie....this is the opposite of John Bogle's recommended investment strategy. He is the one who introduced low fee investing.

This.

What would you do with this guys?

Attempt to cash out 900 at 10k. Save 100 in case shit gets real.

what a sad faggot falling for jewish tricks you are.

JP Morgan's father called JP Morgan an idiot for believing in Thomas Edison's electricity light bulbs, called them a carnival trick.

Most older people don't understand new tech.

>I suppose you think you know something that legendary investor John C. Bogle, who founded a company managing $4.4 TRILLION in assets, does not?
dont think, know.

Not keep it in Electrum. Not tell anyone nor even post about it.

people will be saying that about core devs and early adopters when they are 88 years old too.

I am not supporting him, but gold has a desire value. Because people love gold and buy it for cosmetic reasons, but 99% of people buy bitcoin to sell it higher than they bought it, making it highly risky.

You are deluded if you think gold isn't the same. It's traded in the trillions for a reason,and it's not related to it's cosmetics.

>people buy bitcoin to sell it higher than they bought it,
no, thats what day traders do. they do the same thing in the stock market.

well he's not wrong.

Wow for an 88 year old this dude is on another level.

WTF is this shit?

Should have heeded my warning.

You tried to cheat the network. A virus has now been planted on your device. Get fucked.

If troll, really well played, I like the attention to details.
A newfag would put his name in the name field.
If not go fuck yourself nigger.

>99% of people buy bitcoin to sell it higher than they bought it

Crypto is superior money though. It's still a mega valuable product. Just because idiots don't understand it's value and buy it simply because it's increasing doesn't diminish the product itself. It's shot in value initially for a reason. People always forget that last sentence.

He is right you know. Bitcoin is shit at its main purpose and thats transaction of money. Other coins do it much better

>Of course he would say THAT
He is rich as fuck,88 and retired. Do you think he gives a fuck?

/thread

I found the problem. Electrum fucked up. I guess the positive negative thing does mess it up. Balance is zero, not 1 btc.

That's a buy signal if ever I saw one.

...

Karen thread.

I love how all these clueless fucking boomers all add the same caveat to their argument, which is that "it could go to 100k, but that doesn't make me wrong!" yet when it "inevitably" "crashes", that will prove them right.

These are the same idiots that wouldve felt so smug calling the top at 1k in 2013 and saying how right they were at 200 bucks, before being blown the fuck out in 2016-17. Funny how in all these arguments, bitcoin going UP doesn't disprove them, but bitcoin going DOWN vindicates them (even if its only temporary before rushing to new highs).

Fucking faggots.

>88
>boomer

>BITCOIN IS A SUPERIOR CURRENCY
Tell me about how you can pay your bills with bitcoin. When was the last time you paid for groceries in bitcoin?
>NONCOINERS ARE JUST MAD THEY AREN'T IN ON THE GAINS
How many people do you know that have honestly been able to monetize their investment into an currency that you can actually purchase goods with?

In my office we joke about the poor investment trifecta which consists of pot stocks, bitcoin, and nonstandard options (almost always a loss for the average investor). The thing about a gold rush is a few make it rich because a bunch of cucks with hopes of doing little work to get a max reward show up and get butt-fucked by those who actually understand wtf is going on. To those who will ultimately make millions on the bitcoin rush, mad respect. You have successfully trolled millions of people and got rich in the process. To those who will ultimately lose everything they have in bitcoin (most of you)....fuck you. You're the kind of lazy fucks that tank economies and cry about how the jews are keeping you down. You deserve to be poor and licking the boots of those who worked hard (or took the time to learn useful skills) and made good decisions. America doesn't have a shrinking middle class because of MAH GUBERMENT or MAH ECONAMY. The middle class is shrinking because the few who make good decisions move upward. The remainder do retarded shit like play powerball, get liberal arts degrees, and invest in the above mentioned trifecta with no understanding of how investing works.
>pic related, its the majority of you on your bitcoin journey "to the moon"

>Jack Bogle
>clueless

>Tell me about how you can pay your bills with bitcoin. When was the last time you paid for groceries in bitcoin?
It's happening eventually. That's why I feel so comfy investing in BTC right now that it has not reach the mainstream

I can literally smell the McKinsey consultant stench from here.

explain to me why bitcoin has value

>my IRA and 401k are Vanguard
>my meme money is crypto
Can't lose

Because value is derived from what a purchaser is willing to pay and a seller is willing to take.

>hurr durr no practical use
Why the fuck are gold and diamonds worth more than bottled fucking water then you little shit; I loved going through business school so I could break the curve on every exam just to watch you cry.

bogle is the only honest man in finance
usdt is an obvious scam

It's ok user it gives us time to accumulate, it's just another form of marketing and building rapport to these people.

It's probably to scare away all the people that were about to or unsure about Vanguard.

Not him but you can send money as easy as sending a fucking email and in a more secure way, something that can't be done as fast/easily with the traditional methods. This is gonna become the new normal whether you like it or not

>its happening eventually
It'll happen when its been regulated. Which is funny because even the slightest hint of government regulation crashes the price. That kind of optimism is why 80 year olds are spamming "welcome to walmart" at your local super center entrance.

Yeah fuck gold, what a fucking meme purchase. If you're worried about SHTF buy machine tools, guns, water and seeds.

fucking gold. What a fucking meme.

>Why the fuck are gold and diamonds worth more than bottled fucking water
Because these are luxury goods you fucking twat. You can fucking show them off. Answer this brainlet, can fucking rappers or trophy wives wear BTC as bling? No.

Go on, wear your fucking trezor with 100 BTC around your neck. Now try wearing a trezor with 0 BTC. Notice anything different? None? Gotcha.

you know that gold and diamond are both used for more than just jewelry right?

2/2
Limited supply + ability to flaunt wealth = good store of value.

>Because value is derived from what a purchaser is willing to pay and a seller is willing to take.
and why are people willing?

Close, but not quite. People are always arguing how the rich get richer and the poor get poorer. Lot of theories but from what I've seen the rich get richer because they have managed accounts and the poor get poorer because they buy the trifecta and don't understand what margin is.

>Because these are luxury goods you fucking twat
People decided that gold and diamond had value based on scarcity, just like people decided BTC has a real value based on the same principle.

He is literally correct you greedy fucks

what the fuck is a trezor?

>its about bling
You're a nigger.

>hurr durr luxury goods
No. BTC is already an excellent inflation hedge and has outperformed gold against fiat currencies literally since its existence. It's also still comparable to VISA as far as transferring wealth, except it is much harder to track and tax.

>the uses of gold and diamonds are what give them their value
Holy shit.

>88 years old

maximum-kek

I always liked the idea of owning precious metals, because its a physical asset I can actually hold, and having a huge stack of shiny treasure makes my caveman brain happy. But realistically its just not profitable. It doesn't actually build any value like stocks bonds or real estate. It just (hopefully) holds its value in the face of inflation, which isn't really a huge concern right now.

A pity because I'd love to add more gold to my pile.

because they're fucking sheep and now this/buzz feed were talking about it so clearly its a great investment. Americans aren't just fat, they're also retarded.

comfy
How much is that worth?

Because they're fucking irrational morons; I don't give a shit WHY they want X, all I care is delivering X for the price they're willing to pay while paying less than X for delivering it to them. That's how you into markets.

>close
Kek. It's how you fucks talk.
t. ex- prop trading desk

>rich get richer
Yes, managed accounts, also because they are closer to the infinite money spigot at the (((Fed))).

>poor get poorer
Because they're literally sub-human retarded niggers. Have zero sympathy for the poor, those who cannot make it don't deserve anything but scorn. Especially when they pump out niglets for welfare checks.

>risk averse person talking about a risky asset

Dude if you ever actually accumulate a significant pile of gold you can just post it as collateral for super low interest rate loans and invest that, or even lease it as collateral for other people and pocket the difference

>lease it as collateral for other people
wtf? What if they do tpay back their loans? Sounds like a one way ticket to losing your gold

Gold has a lot of value due to its use in electronics and all kinds of random industrial applications. It may not perform as well as it used to but its still got some strength. Not to mention of there were a financial/currency crisis in the near future it would more than likely be the default to backing up a currency so there's always that.

I mined about 1 bitcoin about 7 or 8 years ago. I downloaded the new Bitcoin Core, but I can't find whatever file that would hold my bitcoin. Any advice?

>Low fees
>No fees
Choose one and only one

I admire Jack Bogle, but in this case I'm not gonna listen to what he says. The guy is 88 yo and probably don't see how big and indispensable cryptocurrencies are going to become in this century. Some of the most progressive countries are thinking about issuing their own government backed Cryptocurrency. Crypto is here to stay, kids

>>> 8000 years old
He probably has to call his grandson to turn the pc on to write that

if some user told u "stay away from btc" u would call him a FUDer
if some old man tells you the same you praise him and suck his dick
fuck right off

>what the fuck is a trezor?
AHAHYIUAHAIUAHIUAHIUAHAIUHAIUHAIUAHIUAHUIAHAIUHAIUHAUIAHIUAHAIUhAIUHAIUAHIUAHUIAHAIUHAUIAHA

You fucking plebs dont even know the brand of the first hardware wallet. Just how fucking new are you to crypto? Have fun with your lunch money hahahahaha.

>You're a nigger for thinking a good store of value should allow people to flaunt wealth
You are literally fighting against basic human nature. Everyone flaunts their fucking wealth, niggers, white people, asians etc. Seeing rich people flaunting gold and diamonds makes people think these are really high valued items. It has been that way since the dawn of civilization.

Like i said, can you fucking flaunt Bitcoin like diamonds and gold? If not then its a shitty store of value

You lease it to people who are guaranteed to pay back their loan, like a bank. Hard asset collateral is always valuable and is at a premium right now because cash is cheap.

IMO the best time to buy gold is now...when NO ONE wants it. But lets not pretend gold is going to do crypto returns. The money that would have gone into gold is going into crypto.
Maybe gold does 3 to 5x max if it goes up. but 10k to 50k gold nope never gonna happen

>scorn rhymes with corn

2/2
INB4 truly rich people dont flaunt their wealth via diamonds and gold. Bullshit, almost every wealthy person wears gold or diamond just in a more subtle way compared to rappers.

Eat a bag of dicks establishment shill. I'm up 5000%, cashed out 5x my initial investment, and now I'm just along for the ride. You can buy my bags in a few years, it's fine

Jesus christ this.

I'm a property investor and let me share something with you cucks. This guy is right.

There's a simple process a simple way to see if something is a scam.
>If you start with nothing you need to buy or create something productive.
>This means debt.
>If said investment fails you will have creditors chasing you while you chase monies owed to you.
>This happens because all debt and investment is a web, it either pulls you all up or pulls you all down because its all connected.

A true telltale sign of a ponzi scam is if the investment fails no one will chase you and there is literally no one left for you to chase.
Lenders won't lend on your initial investment so you literally lose all your case reserves.
Getting into any crypto now is lunacy. profit is only abundant when no one knows its there.
My kids school teacher is invested in crypto for fucks sake

If you were mining on your own (not on a pool), you mined 25 bitcoins (or even 50, if it was indeed 7 or 8 years ago), not 1.

What you're looking for is the private key of your wallet.

>first hardware wallet
My first hardware wallet was/is the original Bitcoin Core wallet.

>trezors are for oldfags
IRC is what real crypto oldfags remember, you're just a fucking nigger faggot obsessed with bling.

>flaunting wealth is for non-niggers
No, you're just an amerimutt with nigger admixture.

You should be comparing Vanguard to Satoshi Nakamoto, not some random user.

>My first hardware wallet was/is the original Bitcoin Core wallet.
?????????????????????????

The average bitcoin investor lmao. I give up trying to argue with a brainlet like you.

Its so frustrating taking the time to explain information to clients only to have them turn around and say "GREAT I'm going to (insert retarded strategy here)!!!" then ultimately call back 2 weeks later pissed off because they lost their kids college fund on a penny stock. I lost all sympathy for people.

user, I'm curious: where do you see cryptos/BTC in the future realistically say 10 years from now? Genuinely curious

This shit you dumbass.

...

>clients
kek. The only "client" at the prop desk is your immediate supervisor; mine literally let me smoke weed between NY close and Tokyo open.