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> Putting all of your money into Bitcoin/gold right now is a terrible idea for an event predicted to occur in 20 years. How is it a worse idea than, say, putti

• prewett 3y ago
  As Warren Buffett says, which would you rather own, a bunch of bits [0] that are going to be the same in 20 years, or shares in a bunch of companies where other people are working day and night to increase the value of the company? [0] Buffett said "hunk of yellow metal", which unlike Bitcoin, has some intrinsic and widely recognized value
  • feoren 3y ago
    Other people are also working day and night to suck out as much value from those companies as possible. Let's not ignore the multiple tried-and-true strategies for siphoning wealth from common-stock shareholders into the pockets of CEOs and board members. That is what the CEOs of most publicly-traded companies are spending their time trying to do. Would you rather own a shiny hunk of gold, or a paper whose value is constantly under attack from smart, Harvard-educated parasites?
• Kon-Peki 3y ago
  I'm not saying that, in this scenario, putting all of your money into a 401k fund for 20 years is a good idea either. In fact I think it should be fairly obvious that asking the question implies that "standard investment advice" must be revalidated for its applicability.