Cryptocurrency enthusiasts can’t fathom why Bitcoin will fail. If you tell them that you’re not investing in Bitcoin or other cryptos, they look at you like an uneducated investor, a sheep following the crowd without thinking for yourself. The promise of Bitcoin is so great that you’d have to be an outright fool to deny it, and anyone who refutes the future golden age of a decentralized society is simply mistaken and is only coping with the oncoming collapse of fiat currency and Western civilization.
The problem with that theory? None of it is grounded in reality. Today, BiggerPockets CEO Scott Trench is going to prove it. After years of research on Bitcoin, the blockchain, and cryptocurrency as a whole, Scott has come to a simple conclusion: Bitcoin isn’t worth it. In fact, Bitcoin may be worth, unsurprisingly, nothing! But before all you Bitcoin maximalists come out of the woodwork, claiming we’re forever bullish on index funds and real estate, hear out Scott’s argument.
Scott will explain the case for Bitcoin and why its end goal is actually quite altruistic. However, five fatal flaws will stop Bitcoin from ever becoming a world reserve currency or replacing fiat money. Besides its fatal flaws, Bitcoin isn’t a foolproof cryptocurrency by any means, and we’ll prove it! Finally, Scott gives his Bitcoin price prediction and his recommendation if you do want to hold some Satoshis.
In This Episode We Cover
The rational investor’s case against Bitcoin and why it’s NOT an investment
The reasons why Bitcoin could change society for the better (but probably won’t)
Five fatal flaws of Bitcoin that will stop it from ever taking over fiat currency
How adopting Bitcoin could lead to a crashing economy with no growth
The blockchain’s big problems and proof that the world isn’t ready to adopt cryptocurrency
Scott’s long-term Bitcoin price prediction that will shock Bitcoin maximalists
And So Much More!
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BiggerPockets Money 371 - Bitcoin: Investing Fad or Final Bullet to Fiat Currency? w/Saifedean Ammous
Everyone’s Talking About Cryptocurrencies. Should You Invest?
4 Reasons Cryptocurrencies & Blockchain Technology Are Poised to Transform Real Estate
00:00 Intro
02:16 The Case FOR Bitcoin
09:51 5 Fatal Flaws of Bitcoin
14:29 Bitcoin is NOT a Perfect Crypto
21:46 The Blockchain’s Big Problems
26:58 Bitcoin Price Prediction
28:48 What if Bitcoin DOES Take Over?
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-525
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