https://www.forbes.com/sites/qai/2022/05/04/warren-buffett-says-crytpo-doesnt-produce-anything


There is some truth in this.


(1) Those who are currently invested in bitcoin and other crypto-currencies want prices to increase because they have skin in the game, (the same reason why if you ask someone for their opinion on a company they hold shares in, the answer is almost always "buy"). This is not wrong, it's just human nature.


(2) Any asset is only as valuable as long as there's a market for it. Liquidity is one of the most (if not the most) important consideration for price discovery i.e. you can claim that an asset should be valued very highly but if there are no bidders, its value is basically still zero.


(3) Regulatory de-centralization incites discomfort. Without a central governing authority on asset pricing (e.g. the US dollar as a globally recognized currency, the LIBOR, etc), pricing becomes anti-transparent and uncertain, translating to ==> risk and volatility (fluctuations in price).


...Huge fluctuations in asset prices often deludes the less sophisticated investor, giving them the impression of being able to achieve outsized returns, i.e. the gambling mindset.


(4) Any financial product in the course of history that has been widely recognized and accepted as a 'store of value' (securities, gold, real estate, etc) is usually created due to demand from the market. This market is 'made' by the creators of the ecosystem - which is essentially made up of the supply side (the folks who need/want the capital), the demand (the folks who want to put their capital to work in order to generate some form of return), and the intermediaries (the folks who want to get paid for facilitating this process).


In the case of crypto, it simply means there needs to be sufficient buyers of the product, in order for a bankable market to exist. Institutions that advocate bitcoin and crypto are only supporting this as long as they are getting economics out of the arrangement. The uncomfortable reality is that: No one seems to be really concerned about how the end users (if any) are using the product as long as there is a big enough market to transact it.


Once a transaction has occurred, the intermediaries would have a successful case of an MVP thereby eliminating some of the uncertainties raised by the naysayers.


As we evolve over our careers, the relative importance of money diminishes along with savings, paying off huge upfront costs (new house, wedding), etc. If you don't like enough of what you do, no amount of money is ever going to be sufficient for you to 'retire'.

Inspired by a tweet that I'd read elsewhere, I decided to adapt the content and pen this.


  • Best way to solve money problems at home is simply to earn enough. Make enough money and you'll never have any disputes.

  • Use credit cards for day-to-day expenses. They rack up a ton of points which can be used towards discretionary shopping.

  • Doesn't matter how much you save for retirement - the moment you stop working, you'll worry about running out of money.

  • Better to spend money on stuff that you like than spend on stuff that you don't need.

  • Eating out does not imply a luxurious way of life. Some people call this the "rich life". We splurge on eating out but save on fancy houses, cars and other stuff.

  • Property today is no longer a good store of value. There are numerous costs - agency fees, duties, illiquidity, uncertainty over its appreciation in the long term. There are much better alternatives out there to give you a steady 5-6% annualized return over 20 years.

  • Educate yourself on where to put your money. Financial markets are way more sophisticated as compared to 30 years ago. Today we have the ability to invest in stocks globally, a wide range of ETFs, index funds, etc.

  • Worst way to earn an income is to work for a living.

  • Learn to develop multiple income streams as you progress in life - the old school saying of "get a good education, get a good job, start a family, etc..." is out-dated.

  • Invest in yourself. Wealth will take care of itself after that.

  • Don't underestimate the power of compounding.

  • A single investment (no matter how small) can change the course of your finances drastically.

  • Aside from learning how to manage money, learn how to write and code as well.

  • Sales is everywhere - learn how to sell and money will take care of itself.

  • Money will only motivate you so far. If you are not doing the things you love to do, you'll burn out. 100% guarantee.

  • The moment you feel that you pay someone more than what they owe you, you'll most likely end up spending the bulk of time chasing them for what they owe you.

  • Most people who trade stocks lose money. Don't get sucked into speculation.

  • The minute money is too easy to be made, it's probably time to get out.

  • 99% of people who post images of their income online are not telling you something. Really rich and secure people don't flash their wealth and call themselves rich - not unless they are trying to sell you something.

  • People who tip you off on a stock nearly always have something to gain from doing so. Don't be stupid and listen to everything they say. Use your own discretion to decide for yourself. Most of my losses are attributed from listening to others.

  • Don't be envious of those who are ahead of you. You don't know what they've gone through.

  • Bankers are not your friend. They do not care about you. Relationships are booshit. They are only as nice to you as the amount of assets you are banking with them.

  • Don't keep too much of your assets in cash unless you know how you are planning to use it. Invest, even if it is a small amount.

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