Turd Flinging Monkey Is Wrong About Bitcoin? - MGTOW

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Hi Everyone Sandman Here,

This video is brought to you by a donation from Mr. Anonymous. He didn't give me a topic so I thought I'd read everyone a recent statement by Turd Flinging Monkey where he created a Monkey's Market Minute and lays out the case there as well as a recent video where he calls crypto currency. I want to where I believe he's right and where I believe he's wrong. His post is locked on Patreon so only people that pay for it can actually read it. I hope he doesn't mind I read it as I'm sure he'll enjoy the promotion for this segment and that some of you might go over to Patreon and Subscribestar and sponsor him. Here's what the market minute says after a 3% pullback on the markets on February 26th and I quote: "Yesterday, bond yields caused all markets to fall as people pulled out of all assets into cash. Even Cryptocurrency, gold, real estate, and bonds were down which shows how irrational it was. You have to put your money somewhere or inflation will eat your lunch, and stocks are the best liquid hedge against inflation. Gold doesn't pay dividends, and real estate income is not reliable due to eviction moratoriums and low interest rates (causing good renters to buy their own homes). Cryptocurrency, as a sector is horrible, and under performed all other sectors, including gold. Some coins are doing well, but when the stimmy checks end, there won't be any more suckers to buy." unquote. I'll get to TFM's comments in just a moment but let me first tell me first tell everyone about today's sponsor Swan Bitcoin: Anyways now back to the clown world. I guess with that ad you might say that I have a bias towards crypto currency. But the answer to that is yes and now. First off I'm in agreement with TFM about inflation. I also agree on the point about Bitcoin It's in a bubble. You're probably wondering how I can promote it and own it if I believe it's in a bubble. I'll get to that in a few moments. TFM is also right that I'm in Crypto because I was paid in basic attention token. That's what first got me into it in 2019 but I converted them all to Bitcoin or cash to pay my taxes. I own Bitcoins and not shitcoins. You can only create digital scarcity once and expect people to adopt it. Bitcoin is a one time thing. Other coins that are ICOs are fraudulent shitcoins that were created out of thin air like fiat and the people that created them are just as bad as the money printers. Where I believe TFM gets things wrong is when he's underestimating the effects of real estate which makes stocks a poor hedge against inflation unless they are high growth tech stocks in companies that are monopolies. Amazon, Google, etc. Also he's right that on the 26th of February cryptocurrency under performed all other other sectors, including gold. But for the last ten years it's outperformed all other sectors combined. You're cherry picking TFM instead of zooming out. I wasn't going to say anything but I want to clarify why crypto has room in a balanced portfolio. Not your entire portfolio but a portion of it. You also say that once the stimulus checks end there won't be anymore suckers to buy. Actually the retail investors don't really drive crypto as much anymore. It's the hedge funds, as well as companies like Tesla, Twitter, Micro-strategy as well insurance companies like Boston Mass Mutual, The Guggenheim Fund, Black rock, Paypal and even schools like Yale, Harvard, Brown. Why are all those people buying crypto which you described as a great big beany baby in your Monkeynomics 101 video? It went over a trillion dollars as an asset class.






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