“Shane says I can always refinance,” says an overconfident stripper.
“Well, Shane’s a liar,” replies Steve Carell’s character in the movie The Big Short.
Having lived through two recessions (we’re in one right now, it just hasn’t hit hard yet) and lost everything I owned in 2009 it’s easy to see why anyone would be a fan of bitcoin. It’s the same reason strippers were buying houses like handbags in the hit movie The Big Short.
The recession we’re in is just an itsy bitsy downturn, some say. The EF it is…
I have friends on both sides of the bitcoin bubble.
Some very smart people I know think it’s going to $500k and is the tech version of Jesus rising from the dead in the form of digital gold bars under the mattress. Then others think it’s a great wealth destroyer for anyone below the top five percent. Elon Musk has manipulated the price by tweeting about or buying bitcoin the same way other market makers do, as seen lately on Reddit and Robbing Hood.
This is a great talk by someone that I’d consider in the “for” camp.
And here are some key highlights I commonly hear from the “Hell No” camp.
I’m somewhere in the middle. I made my 4x last year and sold it all once it hit my exit price. It was more of a crypto experiment for me.
I like the “Stripper” litmus test as so eloquently displayed in The Big Short.
If strippers are talking about anything as a good investment, it means it’s time to get out. Like, out as fast as you would run for the nearest toilet after a good dose of Mexican food poisoning!
Very few people even understand the evolution and nature of bitcoin.
The video below provides a short history of the cryptocurrency.
I think it’s safe to safe we’re in the stripper zone of bitcoin, so it’s up to you to decide if you want to bet on the cryptocurrency.
Personally, I remain skeptical and it’s a hold for now for me. However, I would invest a small portion again if the price falls below $19k and I would be prepared to lose all of that investment.
It’s the same with my high-risk tech investing with my friend Kamal Ravikant. I’m always prepared to lose it all and put the bulk of my long-term investments into growing market cash-flowing real estate.
And for those of you jumping into day trading on Reddit and buying crypto like a land grab, I guess it’s just an itsy bitsy recession we’re in. 🙂
Hope you enjoyed this one and I’m looking forward to your comments below.
For such conversations and more like them, please apply to join former Navy SEAL Brandon Webb and create an unfair advantage with his select group at the Red Circle Mastermind here.