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Notes -
With all of the enthusiam of Ben Affleck, I figure that I should put some of my investment portfolio into Bitcoin. I expect that it'll move independently of or in opposition to the dollar. What is the boring approach do that, adjusting a boring set of current allocations across the usual boring large investment companies?
I actually somewhat like bitcoin in the long term as a store of value. It is the first mover in terms of creating artificial scarcity, and has surprisingly few weaknesses in terms of preserving that scarcity. Contrast that to something like gold where changes in mining output or industrial demand can impose external price pressures outside of the supply/demand for a safe haven.
That being said, I think the rest of crypto is arguably the largest bubble in human history. I don't see any real value provided by the chains that try to act as both a platform and as a currency. And i expect that at some point those will all come crashing down. And when this happens, I expect that bitcoin will take a major hit. I doubt it will be a lethal blow, but I could easily see a >50% loss happening. That's a lot of risk if you are trying to preserve value.
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