Jack Bogle: “Avoid bitcoin like the plague."

Goes back to his typewriter to file his taxes

Still contacts the outside world via telegraph

Yeah see who wins mr. dinosaur

Only buy commodities that we control *hand rubbing intensifies*

calling another person immature as he hangs out on a board with threads dedicated to cartoon kitty breeding. get real

Dude, respect your elders. You wouldn't damage that 300 year old hard wood floor, Why, It's beautiful. That old peice of shit would probably dent it.

That breath must be freash

He's not a Jew you moron.

Most metals that people speculate in have real world value, being used in electronics and other commodities.
You are paid dividends for stocks.
Real estate is usually rented out or used by yourself.

Bitcoin is... it has the name bitcoin in its name and it's very hard to take it from you if you have it. Kind of like a crypto kitty except less cute.

...

b..b..ut onii chan...delet

>it's very hard to take it from you

let that sink in user

It's the only secure immutable database ever invented by man kind you dumb Faggot nigger

>bonds have an interest coupon
This nigga is a dinosaur

Why are these rich old money men so risk adverse? I'm not expecting them to tell me to go all in on crypto, but this guy even admits an investment now has the chance to double in value.

You've got to consider that this man's entire perspective on reality has been molded by a culture and a paradigm that is completely gone, save for the dusty pages of books. His brain and personality and outlook were all done developing over 50 years ago, in the 1960s, so tell me, why should anyone from the digital age give a single FUCK what he has to say? We shouldn't! He is outdated, and quite literally out of touch with the current reality.

That's not true. BTC is selling itself in more than one way
At least one way is the idea of having a market that's easy for people to get into and kind of understand. There's a sense of freedom in that. People are starting to realize the value of pure wealth and making others wealthy.

Another is the fact that BTC can be exchanged differently in ways that are often easier than other methods.

And I'm probably forgetting some other ways.
Any way, fact is, BTC is not worthless. Certainly not to everyone.

>Sensible opinion on something you've known well have less value as you get older
I don't need to say anything.

Certainly it's a secure system of payment that doesn't rely on a single person to change money, it's also potentially anonymous, but the tokens are still a fiat currency. The tokens are only worth what someone else is willing to pay for it. Further BTC is the first but it won't be the best implementation of the underlying technology.

This is definitely a bubble. Ride it while you can.

>boomers

guys a poorfag. 88 years old barely a 100mil networth comeon

he's right though... hopefully this shit can keep going for a few more years before the crash. people who think it wont happen are being blinded by greed.

he donated half of his salary to charity every year just fyi

because they made their money on super long term holds like warren buffet getting in on coca cola in the fucking 1700s or whatever

>bitcoin is worth $100
Sure seems like he is saying that. For an asset with no underlying rate of return, that's not too shabby.

>Most metals that people speculate in have real world value, being used in electronics and other commodities.

Those real-world uses don't justify their valuation at all

>Bitcoin is... it has the name bitcoin in its name and it's very hard to take it from you if you have it

Isn't that the whole point. You don't want a bank/government/etc to be able to shut you out of your money? Also wouldn't you rather have a total supply that is known versus a government that can inflate it's currency to be worth almost nothing like Venezuela has done for itself screwing over everyone that owned that currency.

>born in 1929
>boomer
fucking moron, boomer is short for baby boomer which refers to "the baby boom" that happened after ww2 soldiers came home

i'd ogle his bogles ya feel me?

>Trusting fucking USD over Crypto

Read Benjamin Gramhm's "The Intelligent Investor".

The very first chapter defines an investment and speculation.

An investment has a cash flow associated with it: stocks, real estate, and bonds.

Speculative investments don't: gold, silver, bitcoin, copper. You would only buy these assets to hold for speculation, other than industrial use.

Speculation has its place in a portfolio. Without speculation, new companies wouldn't find capital.

But we must separate the two. Bogle does this. Bitcoins value is entirely speculative. It has a place in a speculative portfolio, but it is not an investment.

>1700s

Bogle heads is a good book though

>BTS is the first but it won't be the best
This doesn't matter how 'good' BTC is when it's gained this much traction. BTC is strong. Strongest survive.
It's like how no card game can beat the versatility of MtG even though they have shitty mana rules built into their core mechanics.

>bitcoin can moon and you can make bank on it but someday it must dip so im going to be right.
They never learn...do they?

Wow Veeky Forums is retarded, Jack Bogle is a legend

But I disagree with his opinion.

...

>>BTS
*BTC
Phone.

I would define an investment as anything that gets me more money. The are no real or fake investments, only good and bad ones, the bit coins have been overwhelmingly good, it was everything else that was the mistake.

>Also wouldn't you rather have a total supply that is known versus a government that can inflate
If you can infinitely subdivide BTC it's the same as having infinite supply, eg. 0.1, 0.01, 0.001, etc.

>You don't want a bank/government/etc to be able to shut you out of your money?
You still need to be able to access the network to get the money. So you need power, cable/satellite, and access to the hardware.

>Bitcoins value is entirely speculative.

One could at least make the argument that the end-game of cryptocurrencies (not necessarily just BTC) is to become a major universal currency used around the world. Nobody is ever going to seriously transact in precious metals for day to day things, but technological advancement is what can separate cryptos from precious metals

>When it gets back to $100, we’ll talk
This is intersting, is he saying it's a potential buy at $100?
That means it would be carrying a worth of ~$2,100,000,000 (inb4 market cap only relates to stocks even though there aren't any real differences in how it's bought and sold).
Almost like he has no idea what he's talking about.

Again, read The Intelligent Investor. The author was Warren Buffet's mentor. It is the greatest book on investment ever written. After reading it, you will understand that speculation is not investment.

bogle is the man....even if he is wrong.....he is the fucking man

You heard it here guys, Bogle says you need something with an underlying rate of return. Start buying ARK for that glorious DPOS.

It's a fairly academic distinction. For example is gambling an investment? Is insurance an investment? Is insurance really any different from gambling?

As you say, as long as you get paid who the fuck cares? But they make for interesting college courses.

I mean he’s not wrong based on his understanding of what BTC currently is. Essentially an alternative store of wealth that’s more portable than gold. But he’s failing to understand the fundamental value of crypto that will be faster than BTC that is completely portable and as fast as a debit card but can also atomic swap hundreds of different cryptos and fiats, all from your phone, anywhere in the world, and is completely secure. When that technology is perfected, BTC may well not retain it’s value, but whatever coins can do that, are going to be the new money. And the people that get them early will be rich…In theory.

>And the people that get them early will be rich…In theory.

That's my plan. I'm not holding BTC to hold it forever, just to switch when something that really changes up the game arrives

Your crypto economics is severely flawed. Eth cryptonewbfaggot right here bwahhahah

That goblin is correct, sue me bitch.

>infinite divisibility
Legit question, is this a meme?
Money has no backing and because of computers, it is also infinitely divisible to an extant.
I'm not sure about all that shit like money requires the possibility that it can be printed to be exchanged easily and coins require being worth the processing power, but it isn't true that fiat is not infinitely divisible in the right context, nor is it impossible to utilize infinite subdivisions of fiat for at least some forms of trade.

Yeah, that’s the plan. BTC may become obsolete. We all know that right now it’s value is based in part on being there first and brand recognition. Just as we don’t use AOL or Netscape anymore despite how big they were in dot.com 1.0. But those of us that are paying attention to this industry are going to see the warning signs before BTC is overtaken by the eventual winner aka GOOG or AMZ. Will be moving our money out of BTC into whatever is next because we understand the technology. Sure, some luck is involved which is why you have to hedge and be disciplined.

He's not MY elder, you fucking stupid idiot.

>implying I give a single fuck what some George Soros' great grandpa thinks

>listen to old gremlin kike
>never

>bonds have an interest coupon
>This nigga is a dinosaur

bitcoin is a dinosaur, normie.

FUCK he looks 130

One word for this oldfart:

DERIVATIVES

So is he saying gold is bad too?

Yes goyim, keep your money in (((our))) banks where it will be nice and safe.

Also
>investing in a technology that will disrupt value exchange (I'm not talking about BTC, but crypto in general)
>a scam
Thinking in this way, people would be still trading goods rather than using currencies...

Bitcoin is backed by electricity.
Costs a lot of money to create bitcoins or transfer bitcoins.

>old Jew is afraid of technology and doesn’t understand how Bitcoin work

News at 11.

what all (((those))) old farts are saying is
>don't invest in anything goiym, retirement at 23? are you crazy? haven't you seen the new iphone27?
they are scared that noone will give a fuck about their stocks/gold/funds/whatever
crypto is a nail to their already closing coffins.

FUCK EM, old dinosaurs have lived off of regular people wageslavery long enough

Is that a Jew or an Aryan ?

Google has nothing

Traditionally you don't treat currency as being infinitely divisible. You go by whatever the smallest denomination the government recognizes, so for the US it's the penny. I don't know how it works on electronic systems like the ones banks use, I would guess they round but I have no idea.

lel

You can't figure out human speculation in a relatively new and fluctuating market with calculus.
This is psychology, not engineering.

You need clear repeated patterns over a long, LONG period of time to use math like that.

Saved.

He cares, fuck him.

Saved in my happening folder.

>When it gets back to $100, we’ll talk

that's optimistic from his part

>Disrupts value exchange

Come to think of it, I wonder if this is the reason it bothers him...
It's not impossible.

No matter how good a person is, I'd be nervous too with crypto going the way it is and it being as hard to predict as it is while I've made my fortune elsewhere.

>his salary
you mean otehr people's years of wagecuckery?

fuck all those old farts, they can take all their gold and stocks or w.e with them, 10ft below the ground, same with boomers

lmao, back to $100... jesus christ thats so ridiculous. how does it feel to be so much more intelligent than someone so rich, biz?

Start posting it on /pol/

>speculation is not investment
>buy low sell high is not investment

Ok then...

>I don't know how it works on electronic systems like the ones banks use, I would guess they round but I have no idea
... my question assumed you already knew about how forex and leverage can use fractions of a cent. Maybe I should've clarified.

His entire spiel was hedge fund traders never beat the market. At least over time and on average. So if you plan to invest for in something you're going to hold for 40 years just buy the whole market and cut out the broker. Even if you're going to hold for 1 year you're hedge fund broker is probably an idiot who's not going to do better than the market but will still take all your money. So why pay these guys?

He basically invented the index fund.

>ITT: Bitcoiners can't face reality that they bought at or near ATH in a bubble

>40 years
Ah, yeah that's the reason. Not sure why I/we keep forgetting this.

It's the reason I always cash out half my profit every once and a while and use excess money I wouldn't otherwise give a shit about any way figuring its worth it cuz I'm just interested in where coins will go in general.
Yeah, nothing really new.

From a few brief google searches it seems there's no regulation for how transactions have to be rounded (at least in the US) so it would depend on individual bank contracts. It looks like (again this from the first pages of google) a bank chooses to have about 4 decimals places and then rounds everything out at the end of each transaction.

Respect is earned boomer.

>There is nothing to support bitcoin except the hope that you will sell it to someone for more than you paid for it.

Like a house.

You don't seem to understand what he's saying. Housing has intrinsic value.

why do people always compare crypto to stocks instead of to currency?

what's the intrinsic value of fiat?

Bitcoin has intrinsic value because a ton of electricity money and equipment investment was spent to create each coin.

You’re gonna wanna stay away from bitcoin.

>trust me

>secure immutable database

en.bitcoin.it/wiki/Weaknesses

Lmao