/biz/ - Business & Finance

https://www.bloomberg.com/news/articles/2017-11-28/vanguard-founder-jack-bogle-says-avoid-bitcoin-like-the-plague

>>4634320
https://www.bloomberg.com/news/articles/2017-11-28/vanguard-founder-jack-bogle-says-avoid-bitcoin-so-he-can-buy-more

>>4634317
crypto is in direct competition with everything he's spent his entire life building
of COURSE he's gonna say "don't do it!"

Bitcoin being a success is not good for him

>88 years old

>>4634317
>rich guy tells poor people not to get involved with something thats made poor people rich

What did he mean by this?

nocoiners

when will they learn?

>>4634343
\<\/thread\>

Jackie boy is a linkie boy confirmed.

Jack Bogle is one of my heroes bro, I think he's implying to avoid Bitcoin, go for Bitcoin Cash

>>4634317
>“Bitcoin has no underlying rate of return,” said Bogle, 88, who started the first index fund in 1976. “You know bonds have an interest coupon, stocks have earnings and dividends, gold has nothing. There is nothing to support bitcoin except the hope that you will sell it to someone for more than you paid for it.”

>gold has nothing

So avoid bitcoin and gold like the plague then?

>>4634343
He spent his life building the lowest cost index fund owned by the holders of the find themselves. Vanguard has contributed more to the world then you have retarded mouthbreathing face a trillion times.

Go read a book before sprouting the dumbest shit

>>4634343
Kys retard

NO GOY YOU HAVE TO BUY STOCKS AND PAY ME FEES TO MANAGE THEM FOR YOU YOU ARE NOT SMART ENOUGH TO INVEST YOUR OWN MONEY

Be a good goy and stay away from bitcoin

>>4634490
>>4634501
this desu
Who /Boglehead/ here?

>>4634490
>>4634501
Nobody gives a fuck.

How do u buy bitcoins

>just wait till the evidence supports my position and we will talk

>>4634317
Stock market fags on suicide watch. He's full of shit, like Dimon. Vanguard Bitcoin fund in 6 months guaranteed

>fist is evil, valueless, inefficient, etc
>that’s why I want crypto to moon so I can cash out into fiat

>>4634535
>YOU HAVE TO BUY STOCKS AND PAY ME FEES TO MANAGE THEM
Umm sweetie....this is the opposite of John Bogle's recommended investment strategy. He is the one who introduced low fee investing.

>>4634535
This.

What would you do with this guys?

>>4634698
Attempt to cash out 900 at 10k. Save 100 in case shit gets real.

>>4634615
what a sad faggot falling for jewish tricks you are.

>>4634317

JP Morgan's father called JP Morgan an idiot for believing in Thomas Edison's electricity light bulbs, called them a carnival trick.

Most older people don't understand new tech.

>>4634317
>I suppose you think you know something that legendary investor John C. Bogle, who founded a company managing $4.4 TRILLION in assets, does not?
dont think, know.

>>4634698
Not keep it in Electrum. Not tell anyone nor even post about it.

>>4634490
people will be saying that about core devs and early adopters when they are 88 years old too.

>>4634489
I am not supporting him, but gold has a desire value. Because people love gold and buy it for cosmetic reasons, but 99% of people buy bitcoin to sell it higher than they bought it, making it highly risky.

>>4634893
You are deluded if you think gold isn't the same. It's traded in the trillions for a reason,and it's not related to it's cosmetics.

>>4634893
>people buy bitcoin to sell it higher than they bought it,
no, thats what day traders do. they do the same thing in the stock market.

>>4634489
well he's not wrong.

>>4634489

Wow for an 88 year old this dude is on another level.

>>4634698
WTF is this shit?

>>4635080

>>4634822
Should have heeded my warning.

>>4635080
You tried to cheat the network. A virus has now been planted on your device. Get fucked.

>>4634588
If troll, really well played, I like the attention to details.
A newfag would put his name in the name field.
If not go fuck yourself nigger.

>>4634893
>99% of people buy bitcoin to sell it higher than they bought it

Crypto is superior money though. It's still a mega valuable product. Just because idiots don't understand it's value and buy it simply because it's increasing doesn't diminish the product itself. It's shot in value initially for a reason. People always forget that last sentence.

He is right you know. Bitcoin is shit at its main purpose and thats transaction of money. Other coins do it much better

>Of course he would say THAT
He is rich as fuck,88 and retired. Do you think he gives a fuck?

>>4634343
/thread

>>4635125
>>4635132
I found the problem. Electrum fucked up. I guess the positive negative thing does mess it up. Balance is zero, not 1 btc.

>>4634317
That's a buy signal if ever I saw one.

>>4635544
>>4635544
>>4635544

>>4635587
Karen thread.

>>4634317

I love how all these clueless fucking boomers all add the same caveat to their argument, which is that "it could go to 100k, but that doesn't make me wrong!" yet when it "inevitably" "crashes", that will prove them right.

These are the same idiots that wouldve felt so smug calling the top at 1k in 2013 and saying how right they were at 200 bucks, before being blown the fuck out in 2016-17. Funny how in all these arguments, bitcoin going UP doesn't disprove them, but bitcoin going DOWN vindicates them (even if its only temporary before rushing to new highs).

Fucking faggots.

>>4635624
>88
>boomer

>BITCOIN IS A SUPERIOR CURRENCY
Tell me about how you can pay your bills with bitcoin. When was the last time you paid for groceries in bitcoin?
>NONCOINERS ARE JUST MAD THEY AREN'T IN ON THE GAINS
How many people do you know that have honestly been able to monetize their investment into an currency that you can actually purchase goods with?

In my office we joke about the poor investment trifecta which consists of pot stocks, bitcoin, and nonstandard options (almost always a loss for the average investor). The thing about a gold rush is a few make it rich because a bunch of cucks with hopes of doing little work to get a max reward show up and get butt-fucked by those who actually understand wtf is going on. To those who will ultimately make millions on the bitcoin rush, mad respect. You have successfully trolled millions of people and got rich in the process. To those who will ultimately lose everything they have in bitcoin (most of you)....fuck you. You're the kind of lazy fucks that tank economies and cry about how the jews are keeping you down. You deserve to be poor and licking the boots of those who worked hard (or took the time to learn useful skills) and made good decisions. America doesn't have a shrinking middle class because of MAH GUBERMENT or MAH ECONAMY. The middle class is shrinking because the few who make good decisions move upward. The remainder do retarded shit like play powerball, get liberal arts degrees, and invest in the above mentioned trifecta with no understanding of how investing works.
>pic related, its the majority of you on your bitcoin journey "to the moon"

>>4635624
>Jack Bogle
>clueless

>>4635693
>Tell me about how you can pay your bills with bitcoin. When was the last time you paid for groceries in bitcoin?
It's happening eventually. That's why I feel so comfy investing in BTC right now that it has not reach the mainstream

>>4635693
I can literally smell the McKinsey consultant stench from here.

>>4634774
explain to me why bitcoin has value

>my IRA and 401k are Vanguard
>my meme money is crypto
Can't lose

>>4635777
Because value is derived from what a purchaser is willing to pay and a seller is willing to take.

>hurr durr no practical use
Why the fuck are gold and diamonds worth more than bottled fucking water then you little shit; I loved going through business school so I could break the curve on every exam just to watch you cry.

>>4635624
bogle is the only honest man in finance
usdt is an obvious scam

>>4635624
It's ok anon it gives us time to accumulate, it's just another form of marketing and building rapport to these people.

It's probably to scare away all the people that were about to or unsure about Vanguard.

>>4635777
Not him but you can send money as easy as sending a fucking email and in a more secure way, something that can't be done as fast/easily with the traditional methods. This is gonna become the new normal whether you like it or not

>>4635748
>its happening eventually
It'll happen when its been regulated. Which is funny because even the slightest hint of government regulation crashes the price. That kind of optimism is why 80 year olds are spamming "welcome to walmart" at your local super center entrance.

>>4634489

Yeah fuck gold, what a fucking meme purchase. If you're worried about SHTF buy machine tools, guns, water and seeds.

fucking gold. What a fucking meme.

>>4635815
>Why the fuck are gold and diamonds worth more than bottled fucking water
Because these are luxury goods you fucking twat. You can fucking show them off. Answer this brainlet, can fucking rappers or trophy wives wear BTC as bling? No.

Go on, wear your fucking trezor with 100 BTC around your neck. Now try wearing a trezor with 0 BTC. Notice anything different? None? Gotcha.

>>4635815
you know that gold and diamond are both used for more than just jewelry right?

>>4635882
2/2
Limited supply + ability to flaunt wealth = good store of value.

>>4635815
>Because value is derived from what a purchaser is willing to pay and a seller is willing to take.
and why are people willing?

>>4635749
Close, but not quite. People are always arguing how the rich get richer and the poor get poorer. Lot of theories but from what I've seen the rich get richer because they have managed accounts and the poor get poorer because they buy the trifecta and don't understand what margin is.

>>4635882
>Because these are luxury goods you fucking twat
People decided that gold and diamond had value based on scarcity, just like people decided BTC has a real value based on the same principle.

He is literally correct you greedy fucks

>>4635882
what the fuck is a trezor?

>its about bling
You're a nigger.

>hurr durr luxury goods
No. BTC is already an excellent inflation hedge and has outperformed gold against fiat currencies literally since its existence. It's also still comparable to VISA as far as transferring wealth, except it is much harder to track and tax.

>>4635901
>the uses of gold and diamonds are what give them their value
Holy shit.

>>4634317
>88 years old

>>4634332
maximum-kek

>>4635851
I always liked the idea of owning precious metals, because its a physical asset I can actually hold, and having a huge stack of shiny treasure makes my caveman brain happy. But realistically its just not profitable. It doesn't actually build any value like stocks bonds or real estate. It just (hopefully) holds its value in the face of inflation, which isn't really a huge concern right now.

A pity because I'd love to add more gold to my pile.

>>4635921
because they're fucking sheep and now this/buzz feed were talking about it so clearly its a great investment. Americans aren't just fat, they're also retarded.

>>4636027
comfy
How much is that worth?

>>4635921
Because they're fucking irrational morons; I don't give a shit WHY they want X, all I care is delivering X for the price they're willing to pay while paying less than X for delivering it to them. That's how you into markets.

>>4635932
>close
Kek. It's how you fucks talk.
t. ex- prop trading desk

>rich get richer
Yes, managed accounts, also because they are closer to the infinite money spigot at the (((Fed))).

>poor get poorer
Because they're literally sub-human retarded niggers. Have zero sympathy for the poor, those who cannot make it don't deserve anything but scorn. Especially when they pump out niglets for welfare checks.

>>4634317
>risk averse person talking about a risky asset

>>4636027
Dude if you ever actually accumulate a significant pile of gold you can just post it as collateral for super low interest rate loans and invest that, or even lease it as collateral for other people and pocket the difference

>>4636099
>lease it as collateral for other people
wtf? What if they do tpay back their loans? Sounds like a one way ticket to losing your gold

>>4636027
Gold has a lot of value due to its use in electronics and all kinds of random industrial applications. It may not perform as well as it used to but its still got some strength. Not to mention of there were a financial/currency crisis in the near future it would more than likely be the default to backing up a currency so there's always that.

>>4634317
I mined about 1 bitcoin about 7 or 8 years ago. I downloaded the new Bitcoin Core, but I can't find whatever file that would hold my bitcoin. Any advice?

>>4634615
>Low fees
>No fees
Choose one and only one

I admire Jack Bogle, but in this case I'm not gonna listen to what he says. The guy is 88 yo and probably don't see how big and indispensable cryptocurrencies are going to become in this century. Some of the most progressive countries are thinking about issuing their own government backed Cryptocurrency. Crypto is here to stay, kids

>>4634317
>>> 8000 years old
He probably has to call his grandson to turn the pc on to write that

>>4634317
if some anon told u "stay away from btc" u would call him a FUDer
if some old man tells you the same you praise him and suck his dick
fuck right off

>>4635984
>what the fuck is a trezor?
AHAHYIUAHAIUAHIUAHIUAHAIUHAIUHAIUAHIUAHUIAHAIUHAIUHAUIAHIUAHAIUhAIUHAIUAHIUAHUIAHAIUHAUIAHA

You fucking plebs dont even know the brand of the first hardware wallet. Just how fucking new are you to crypto? Have fun with your lunch money hahahahaha.

>You're a nigger for thinking a good store of value should allow people to flaunt wealth
You are literally fighting against basic human nature. Everyone flaunts their fucking wealth, niggers, white people, asians etc. Seeing rich people flaunting gold and diamonds makes people think these are really high valued items. It has been that way since the dawn of civilization.

Like i said, can you fucking flaunt Bitcoin like diamonds and gold? If not then its a shitty store of value

>>4636132
You lease it to people who are guaranteed to pay back their loan, like a bank. Hard asset collateral is always valuable and is at a premium right now because cash is cheap.

>>4636027
IMO the best time to buy gold is now...when NO ONE wants it. But lets not pretend gold is going to do crypto returns. The money that would have gone into gold is going into crypto.
Maybe gold does 3 to 5x max if it goes up. but 10k to 50k gold nope never gonna happen

>>4636066
>scorn rhymes with corn

>>4635984
>>4636172
2/2
INB4 truly rich people dont flaunt their wealth via diamonds and gold. Bullshit, almost every wealthy person wears gold or diamond just in a more subtle way compared to rappers.

>>4635693
Eat a bag of dicks establishment shill. I'm up 5000%, cashed out 5x my initial investment, and now I'm just along for the ride. You can buy my bags in a few years, it's fine

>>4635693
Jesus christ this.

I'm a property investor and let me share something with you cucks. This guy is right.

There's a simple process a simple way to see if something is a scam.
>If you start with nothing you need to buy or create something productive.
>This means debt.
>If said investment fails you will have creditors chasing you while you chase monies owed to you.
>This happens because all debt and investment is a web, it either pulls you all up or pulls you all down because its all connected.

A true telltale sign of a ponzi scam is if the investment fails no one will chase you and there is literally no one left for you to chase.
Lenders won't lend on your initial investment so you literally lose all your case reserves.
Getting into any crypto now is lunacy. profit is only abundant when no one knows its there.
My kids school teacher is invested in crypto for fucks sake

>>4636142
If you were mining on your own (not on a pool), you mined 25 bitcoins (or even 50, if it was indeed 7 or 8 years ago), not 1.

What you're looking for is the private key of your wallet.

>>4636172
>first hardware wallet
My first hardware wallet was/is the original Bitcoin Core wallet.

>trezors are for oldfags
IRC is what real crypto oldfags remember, you're just a fucking nigger faggot obsessed with bling.

>flaunting wealth is for non-niggers
No, you're just an amerimutt with nigger admixture.

>>4634490
You should be comparing Vanguard to Satoshi Nakamoto, not some random anon.

>>4636242
>My first hardware wallet was/is the original Bitcoin Core wallet.
?????????????????????????

The average bitcoin investor lmao. I give up trying to argue with a brainlet like you.

>>4636066
Its so frustrating taking the time to explain information to clients only to have them turn around and say "GREAT I'm going to (insert retarded strategy here)!!!" then ultimately call back 2 weeks later pissed off because they lost their kids college fund on a penny stock. I lost all sympathy for people.

>>4636275
Anon, I'm curious: where do you see cryptos/BTC in the future realistically say 10 years from now? Genuinely curious

>>4636274
This shit you dumbass.

>>4636275
>clients
kek. The only "client" at the prop desk is your immediate supervisor; mine literally let me smoke weed between NY close and Tokyo open.

>>4636321
Do you even know what a fucking HARDWARE wallet is? Just how small is your fucking portfolio that you have no idea what a hardware wallet is?

Fucking plebs in biz i swear. The dumb money has definitely arrived.

>>4635882
Who the fuck still goes outside anymore, most people just sit at home taking selfies and dumb shit on their smart phone. Mostly everyone sits at home playing some form of video games or social media, and the people who do go outside are just filthy social climbers looking to take selfies of doing X event.

These fundamental shifts in this current generation is really odd.

>>4636326
>mfw I support BCH now

>>4635777
Two existing applications:

>Be virtual goods seller
>Buyer pays, I give them item
>Buyer does a chargeback, claiming the transaction was unauthorized/they didn't receive the goods
>I lose my money and suffer a $20 chargeback fee because Paypal hates virtual goods
>Even if I win, I still have to spend hours building a case against the buyer

>Be virtual goods seller
>Buyer sends BTC, I give them item
>no need to worry about chargebacks

Of course, the buyer has to worry about this scenario:
>Be buyer
>Send BTC to seller
>Seller runs off with the BTC
>I lose my money

BTC has another feature to address that problem, though.
>Be seller
>Buyer asks me why he should trust me
>I show him my transaction history on the blockchain, showing that I've sold 20 BTC worth of goods and have hundreds of vouches
>Buyer googles my BTC address and sees that my record is clean
>Buyer sends BTC, I give them item

These uses may not be relevant to normalfags, but the internet spent many years without normalfag usage as well.

>>4635728

He's 100% clueless about crypto.

>>4635693

Funny, because that trifecta was probably the best performing portfolio this year. Money talks, period.

>>4636367
>shilling this hard for paper BTC wallets
You're retarded; those have been around since there were actual bit"coins" and they're retarded.

>how small is your portfolio
I have 200 s9's.

>>4636369
>Who the fuck still goes outside anymore, most people just sit at home taking selfies and dumb shit on their smart phone.
Oh please, most crypto investors buy BTC and altcoins in the hopes of earning enough money to buy goods they can flaunt.

Lambos, jewelry, luxury watches, luxury homes you fucking name it. No one buys Bitcoin as the end game. People buy jewelry with no intention of fucking selling (well until they get bankrupt), its purely for showing off and thats what makes it a good store of value. Jewelry is the END GAME.

>>4636435
You underestimate my autism.

>>4636063
that wasn't actually my stack, just a quick google search, but since you asked here's my actual pile

10 ounces of gold worth $12,928 and 10 of silver worth $172

Not much, but as I said I just can't justify buying more gold. I've been collecting the 2oz silver queen's beast coins lately just because I think they look cool. Silver is cheap enough that I don't really consider it an investment, just a collection.

>>4636424
>Paper wallet
>Still doesnt understand what a fucking hardware wallet is
Fucking ignoring you now. No way you have a significant portfolio if you havent AT LEAST heard of a Trezor or any hardware wallet for that matter at this point.

Next time, try not to make it obvious that you're poor or a newfag ok?

>>4636172
>if you can't use it to conspicuously consume, it's not a store of value
>implying people buy jewelry to store value

>>4636435
Most people buy digital goods now instead of physical assets nowadays, the generational switch is manifesting fast. Same goes with wholesale and sit down diners, everyone is fucked economically and to stupid to do shit.

https://www.youtube.com/watch?v=4zfQw_-rob0

>>4634764
>Attempt to cash out

heh

>>4636479
>hurr durr look at my objective standard for determining one's financial savvy - whether or not they know what this completely unnecessary piece of technology is!
Do you require a hardware wallet to use bitcoin? No. Then why the fuck should I care what it is.

>you can't be significant if you aren't a normie
kek.

>>4636539
coinbase to cash out right

>>4635125
whats wrong with electrum?

>>4636479
Honestly, I trust more in my handwritten private keys (with several distributed copies) than in some hardware wallet. As long as the paper and ink is good quality, it can last for an extremely long time.

The Trezor, on the other hand, will probably last for a lot longer. But it's not transparent. And there are no backups.

>>4636313
>Anon, I'm curious: where do you see cryptos/BTC in the future realistically say 10 years from now? Genuinely curious

Cryptos: sketchy but accepted part of the global markets.

BTC: Dogecoin level relic.

>>4636326
>>4636383
that fucking boomer tier type advertising

is this real?

>>4636599
Nothing it's where I keep my bitcoin. I'm OP btw. You shouldn't believe everything you read on /biz/.

>>4636639
Thats not the point i was trying to make. This >>4636542 anon has no idea WHAT A TREZOR OR ANY HARDWARE WALLET is, while trying to say he's an oldfag who has a significant portfolio.

Who would believe his fucking lies? Its ok if you prefer using another method of cold storage but damn how poor or new are you NOT HAVE HEARD of a hardware wallet by now? These faggots are trying to pretend their BTC veterans lmao.

Even those rich oldfags that dont want to buy hardware wallets know what they are.

>>4636661
Delusional. BTC will hit 500k

>>4636744
2/2
*Seriously these faggots acting like they are BTC veterans lmao. They probably dont even know what Jalapeno miners are or what colored coins are.

He scared.
Notice he is a managing investor.
If he is so great at investing why does he need to manage other peoples money?
Bitcoin and crypto in general represent an existential threat to investment (((managers))) as there is far less need for middle men like (((them))).

>>4636744
Ah yeah agreed about that. Anyone who doesn't know about hardware wallets, let alone hasn't even heard of them, is a newfag. But there's a lot of newfags on /biz/ pretending they are the shit.

>>4636827

bitcoin is supported by massive computing power distributed all around the world

>>4636827
>Notice he is a managing investor.
>If he is so great at investing why does he need to manage other peoples money?
U fucking srs? He allowed people to invest in funds with the smallest fucking management fees.

>>4636857
>>4636744
>ahaha look at this newfag he doesn't know what a trezor is
Yeah, and you don't know what a repo is. Who's the real financier here?

>>4636827
lmao parentheses posters are fucking retarded

Oh, (((they))) are ramping up the FUD just in time for 10k.
Nice, a nice dip would be great right about now, 6k would be awesome.
Never bet against (((them))), normies love to listen to (((them))) for some retarded normie reason.

>>4636313
I could see it being a legitimate in the future but the reality is bitcoin is a fad and even if it sticks, it faces years of turmoil and pain. I think cryptos will ultimately replace physical currency in the future.

>>4636827
He doesn't give a fuck about your shekels; he's a millionaire who doesn't even like money, and he's going to kick the bucket soon

>>4636891
>Yeah, and you don't know what a repo is. Who's the real financier here?
>Admittedly a newfag
A financier who obviously bought at the fucking top lmao. How can we take you seriously when you have only started learning about crypto now? Not to mention you are obviously biased since you bought in late and are afraid this bubble is about to pop.

>>4636964


So we have attack of
>can't cash out

>bcash

>tether

>gold bugs

>tulip posts

I don't get it are these the same people that shill alt coins here?


You can literally go to the 4chan archives and notice 90% of the alt coins and bitcoin FUD always does the exact opposite of what the sock puppets claim.

>>4637034

2/2 for about 2 years worth of posting KEK

>>4636703

>>4637008
>>4637008
>bought at the top
I've been short since 9.2k.

>bubble is about to pop
The fact that we're not even debating whether its a bubble and just arguing over when it will pop is the best clue to leave.

>>4637034
How about the Mt.Gox fud? was that baseless fud as well? Hahahahahahaahahaahahaha funny how you didnt mention it.

You are fucking retarded if you think the Tether FUD is fake at this point.

>>4636326
WTF I hate Bitcoin now

>>4634343
This and if he's going to buy it, it's not going to be during ATH, he just want the current run to end so he can get it at a discount.

>>4636465
>crypto will make anime real
No autists don't trust the samurai.

>>4634489
>>4634362
>>4634352

"...Thaler has written a number of books intended for a lay reader on the subject of behavioral finance, including Quasi-rational Economics and The Winner's Curse, the latter of which contains many of his Anomalies columns revised and adapted for a popular audience. One of his recurring themes is that market-based approaches are incomplete: he is quoted as saying, "conventional economics assumes that people are highly-rational—super-rational—and unemotional. They can calculate like a computer and have no self-control problems."[18]
Thaler is coauthor, with Cass Sunstein, of Nudge: Improving Decisions About Health, Wealth, and Happiness (Yale University Press, 2008). Nudge discusses how public and private organizations can help people make better choices in their daily lives. "People often make poor choices—and look back at them with bafflement!" Thaler and Sunstein write. "We do this because as human beings, we all are susceptible to a wide array of routine biases that can lead to an equally wide array of embarrassing blunders in education, personal finance, health care, mortgages and credit cards, happiness, and even the planet itself." Thaler and his co-author coined the term choice architect.[19]"

>The 2017 Nobel Prize in economics went to a guy who basically said the market is retarded
>The Royal Swedish Academy of Sciences acknowledges the possibility proposed by the author that something truly valuable can go unnoticed and some retarded shit can moon, yet the average /biz/tard cannot

>>4637124
I'm talking about the quality shit posting in /biz/ you frothing retard.

Learn to read.

>>4637102
>I've been short since 9.2k.
In other words you've lost a lot of money HAHAHAHAAHAHAHAHAHAH. What an idiot, shorting when Tether can be printed non-stop. Quite stupid for someone who supposedly works at finance.

Or let me guess, you're one of those people that believe selling = shorting? Financier my ass lmao.

>>4637174
You got me bro! You sure are a fucking genius; I deserve to lose all my money to a fine gentleman like yourself.

>>4637224
What a loser.

>>4637154
>haler is coauthor, with Cass Sunstein, of Nudge: Improving Decisions About Health, Wealth, and Happiness (Yale University Press, 2008). Nudge discusses how public and private organizations can help people make better choices in their daily lives. "People often make poor choices—and look back at them with bafflement!" Thaler and Sunstein write. "We do this because as human beings, we all are susceptible to a wide array of routine biases that can lead to an equally wide array of embarrassing blunders in education, personal finance, health care, mortgages and credit cards, happiness, and even the planet itself." Thaler and his co-author coined the term choice architect.[19]"


>I have 300 games in my steam library
>I own 5 cats
>I'm able to jerk off 3 times a day minimum
>I own a wide array of altcoins and Link from the /biz/ management fund

>>4636358
I work in new accounts so Im normally talking to brand new tards wanting to open an account to buy GBCT and MJNA or old people who are pissed off at Charles Schwalb and Fidelity. There's a lot less cocaine than I imagined in this broker biz.....Im honestly kinda disappointed about that

>>4637493
You should really get out, IB is a dying field

>>4637564
Ive got a really good position currently but I dont want to stay where Im at long term. Gonna work my ass off for the next couple years to build some capital but within the next 10 years I should be financially secure and may just trade on the side and work part time. I was lucky enough to get hit by a truck recently and will be receiving a heavy settlement for their fuck up. Easiest money I ever made.

>>4636066
>"Have zero sympathy for the poor, those who cannot make it don't deserve anything but scorn."

And there it is. The most meaningful part of this stupid fucking drivel.

Remember it, readers. Kill the fucking rich, because they'd do it to you without batting an eye.

>>4637926
This is the whiny little bitch I was talking about. Success is a choice. Bad decisions and laziness deserve scorn. Get over it and move out of your moms basement.

>>4634317
My grandpa won't use a smart phone. Damn. Guess I won't be using a smart phone.

>>4637926
The anon that said that is poor lmao. Check his posts in this thread and the replies to him.

>>4635161
Crypto is, but Bitcoin is not. Jim Google is correct about BTC, it has no fundamentals; it's slow, has high fees, and isn't even divisible into enough decimal places to make it useful as a currency if it really did catch on.

>>4634317
The head of J.P. Morgan said the same thing earlier this year and look where it is now

>>4638415
I don't give a fuck what that guy thinks. But I do care what old man Bogle thinks. The difference is that only one has a proven track record of helping retail investors

>>4635728
There's plenty of to economists that have talked about Bitcoin with literally zero understanding of it, he's either clueless it baiting the market

>>4636222
My kids school teacher invested in the entire stock market through an ETF, it doesn't make it any less legitimate
Fuck of with your fallacies

>>4636142
Look for a file called wallet.dat

>>4635693
>Tell me about how you can pay your bills with bitcoin. When was the last time you paid for groceries in bitcoin?
'When was the last time you paid for your groceries in AAPL?'
See how you sound?
Anyway, in case you weren't aware, you can, just like nearly every other liquid, financial vehicle, sell, and use the proceeds to buy other things.
This said, if you're so opposed to Bitcoin, why are you here? Go do something you enjoy instead of wasting your time...you're not going to change someone's mind who was made 100x this year alone. Even if it flash-crashed back down to 2k, I'm still much better off than in my 401k.

How many shares of VTI do you have, anons?

I have 90, up 10.5% since I bought them

>>4634352
Where are all these "poor people" that became "rich"? They don't exist. Turning $500 into $1000 isn't shit. You can do that by selling fidget spinners.

>>4636143
VTSAX has an expense ratio of 0.04%. This means if you put $10,000 in it for a year you paid... $4 in fees for the entire year.

>>4636321
This is a software wallet u retard

>>4638210
>mfw you don't even know what being rich is
I already can tell you're the kind of guy who thinks a million dollars is a lot. It's not.

>>4639173
It's also the only cold storage wallet you fucking need, which was my original point. The entire idea of always keeping the vast majority of your BTC on a cold wallet is stupid; capital is meant to be used.

>hodlers
Are the same as "diversifiers"; meaning you don't have a fucking idea what you're doing.

>>4638061
>Daddy's money was a choice
>Self-determinism defines success in countries with horrible wealth disparities

I can't imagine what kind of boomer idiot would let faggots like you con them into managing their money. Talk about bad decisions.

>watch some of the interviews in OP's link
>realize that in almost every single one, the following three things happen: BTC is namedropped, somebody mentions in passing the value of "tokens" or "blockchain infrastructure" without mentioning what investment they've made in that direction, then in closing a bullish prediction for BTC is given.

Media is pumping BTC to the normies in preparation for a dump into alts confirmed.

>>4639386
Tell me what a reverse repo is or how you can construct a hedged bet on sweet brent vs WTI and you're right. Otherwise shut the fuck up.

>>4639221
>bitcoin core wallet
>connected to the internet
>i-its c-cold storage
You are fucking hopeless. Kill yourself.

>The entire idea of always keeping the vast majority of your BTC on a cold wallet is stupid; capital is meant to be used.
Still doesnt know what the fuck a hardware wallet is. How the fuck can we take you seriously? Sure dont buy a hardware wallet. But you clearly have no fucking idea what you are talking about newfag. Is this baby's first crypto week? lmao

>>4634609
kek
Problem with BTC in a nutshell.

>>4639490
>hurr durr I know everything about bitcoin except how it works
You're the absolute smartest, senpai. Economics and finance are 20th century disciplines, they have no place in the new bitcoin paradigm.

>>4639567
>Hurr durr Bitcoin is not a bubble i'm smarter than Jack Boggle
What a fucking retard.

>>4639603
>bitcoin is not a bubble
>>4637102
Do *you* know what short means? I agree with this fucking old fag, at least at the moment.

>>4639631
>I agree with this fucking old fag, at least at the moment.
BUWAHAHIUAHAIUHAIUAHIUAHIUAHAIUHAIUHAUIAHAHAUIHAUIHAIUAHiuAHIUAHAIUHAIUHA

ARE YOU REALLY SAMEFAGGING YOURSELF? WE HAVE TRIPCODES U IDIOT. Fucking pathetic. How fucking new are you in crypto and even biz?

>>4637154
>(((Cass Sunstein)))
Of course he is going to tell unenlightened goyim to stay out of the market.

Guys Satoshi Nakamoto is dumping his wallet. The end is near. I am so glad I got out a long time a go.

@4639684
>tripcode
>samefagging
You don't know what those words mean. No more (you)s.

"Avoid Subway like the plague" - McDonalds CEO

>>4635220
>transaction of money

It's pretty clear the development is going towards it being a store of value and nothing else.

"Avoid Walmart like the plague."
-Sears

>>4638628
>AAPL is a currency
You're retarded by nice try.

>>4634332

>>4634317
Yes, John C. Bogle is an excellent investor and built a massive empire through his cheap index funds. But let's be real, he doesn't understand anything about computer science, cryptography, network protocols, or mathematics. So you can safely ignore what he's saying, the same way you could quite easily safely ignore everything Warren Buffet said about computers back when Microsoft and Apple were just getting started. Anyone who understood the technology knew that this was unstoppable, and look - it was.

>>4634893

I'm convinced that is actually it's utility. Why do people gamble? The risk is fun, the feeling of winning creates a high that can even outshine the down of losing. There is also a feeling of coming to understand and manage risk, which to me at least gives some sense of progression and "beating the odds".

People are told not to gamble because it's a losing game to play, but they still do it to the tune of billions of dollars. Cities are built on it. I think crypto can last indefinitely as a set of speculative asset because it is partially just entertainment for people. Bitcoin might eventually seem daunting to normies though because of the sheer size of entry.

>>4634317
>BTC and authority don't mix well together lmao