Cash Is Trash - page 6. | Bitcointalksearch.org

Oasisman

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Quote from: Natalim on July 29, 2020, 06:14:04 AM

We can't live without cash, so we can't call it a trash.
People calling cash as trash does not live in the normal world, no matter what technology will become popular, it will never be as useful and as popular as cash, so no.. cash is no trash.

I know right, but the guy is referring to the cash in terms of investment asset. Of course cash ain't useless, obviously as long as you're using it. The OP's title gives us a lot of misinterpretation on his statement.
This guy refers to always choose investments such as Gold, Stocks, or Bitcoin rather than storing fiat in a bank or anywhere else that can be affected by hyperinflation.

Harlot

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I think majority of the people here are taking his statement out of context. When he said "cash is trash" this was his way of telling people that if they had extra money lying around they must put it into diversifying their investment portfolio. He mentioned about it being a medium of exchange so I don't think he is saying that cash is actually useless but is something not worth it to hold if you have extra lying around. Just by holding cash you are technically devaluing it as the inflation rate decreases its purchasing power while if your money is on stocks it has even a chance for you to be richer than what you are before.

Natalim

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We can't live without cash, so we can't call it a trash.
People calling cash as trash does not live in the normal world, no matter what technology will become popular, it will never be as useful and as popular as cash, so no.. cash is no trash. In terms of its of the stock market, can you should some proof or reference that the us stock market are now bullish?

I'm not familiar with us stock market, is this the one(https://money.cnn.com/data/us_markets/)?

maxreish

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Those who thought it as literally trash definitely laugh their ass off. But come to think of it, when he say trash maybe he just used inappropriate word. Since we are in an era where in cashless payments, digital currency payments were already been implemented around the world thus it makes sense that cash is somehow been set aside to use by some.

Although fiat money can not be replaced as of the moment since majority of people are dependent on it in different aspects but we can see how digital payments are prominent today.

Reatim

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Quote from: Decred Arabia on July 28, 2020, 05:45:11 PM

Everyone was laughing on Ray Diallo when he said his famous phrase "cash is trash" on 2019 and they even laughed more when his hedge fund tanked 30% under water on early 2020. guess what, US stock markets are bullish again and on a stunning V-shaped recovery and Gold recently hit all time high and bitcoin of course in its way to break new price record. So, who's laughing now!. he was damn right.

Bitcoin already proven recently its capacity to grow and of course this is together when US stocks grows again like WO thread says.
But i don't think it is appropriate to call Cash as Trash when we all live since birth using this payment medium.

Not until Bitcoin Adopted in majority of the countries around the world,Cash will remain dominating the system.
How can we use bitcoin when our country are not allowing us right?
i Know that in the next 5-10 years adoption will already come,but until that time?lets focus in progressing this market for us and our next generations.

Lorence.xD

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Quote from: Haunebu on July 29, 2020, 02:32:51 AM

Never heard of this guy before since I don't know much about stocks etc, but I do know the fact that cash is definitely not trash and anyone who believes that are easily some of the dumbest people in the world.

Physical FIAT will always be relevant due to decades of reliance on this payment system. Digital payment systems will never overtake physical FIAT in terms of popularity etc in my opinion.

Bitcoin purist is not a good thing at all. I agree with the fact that cash is not trash and I would like to elaborate it so it can be seen at a bigger perspective, cash is the keystone that supports the bridge that is free market, cash will stay for long because this helps businesses and small businesses at that to be part of the economy even if they do not use bitcoin, besides the fact that not every commodity and services can be paid through bitcoin, cash plays a big role in making that problem go away, so for all bitcoin purist out there, consider balance between fiat and cryptocurrency.

Haunebu

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Never heard of this guy before since I don't know much about stocks etc, but I do know the fact that cash is definitely not trash and anyone who believes that are easily some of the dumbest people in the world.

Physical FIAT will always be relevant due to decades of reliance on this payment system. Digital payment systems will never overtake physical FIAT in terms of popularity etc in my opinion.

semobo

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Quote from: Decred Arabia on July 28, 2020, 05:45:11 PM

Everyone was laughing on Ray Diallo when he said his famous phrase "cash is trash" on 2019 and they even laughed more when his hedge fund tanked 30% under water on early 2020. guess what, US stock markets are bullish again and on a stunning V-shaped recovery and Gold recently hit all time high and bitcoin of course in its way to break new price record. So, who's laughing now!. he was damn right.

Cash always loses its value but still we need them if we want to buy anything in the world for now, things may change in the future but until that trash is needed for everyone.Stock and cryptos are getting bullish because people need something to invest since the pandemic is about to over so they can enjoy their profits until all governments economies getting recovered.

abhiseshakana

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Quote from: Darker45 on July 28, 2020, 10:16:50 PM

Well, as to "cash is trash," the world has changed. Bitcoin is an electronic cash. In the digital age, money on hand is what cash is all about. And in this age, money is no longer equal to fiat. Fiat is trash, of course. I mean, the system that built and controlled it.

Cash is not trash, but cash is king right now, especially if cash is held in dollars. In fact, to have cryptocurrency you must exchange your fiat first (except for crypto which can be obtained through mining/minting). Also for now bitcoin loses its function as money for many reasons, especially government regulations.

But even though cash is king, the current system is corrupt, starting from bank interest, fractional reserve, seigniorage, the abolition of the Bretton wood agreement so that the US prints dollars without collateral, while other countries print dollars with collateral.

Latviand

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Quote from: goaldigger on July 28, 2020, 05:51:24 PM

Cash is not a trash at all because it is still acceptable by many but if you look at its value, then we can say that cash is far behind gold, bitcoin and stock market as well. Those people who are laughing don’t have any kind of investment and didn’t realize its importance. If you want to be beaten by the inflation then go focus on your cash but if you want more, use gold and cryptocurrency.

Cash is never a trash because when we pay transactions traditionally we are using it for so many years.

Now, these digital currencies are only new to the industry. Not all people are using digital currencies but most of the population around the world are using cash to pay everything they need.

Gold and any other assets have their different importance and benefits towards people so if you compare them, you should consider the factors in the market. Just like what you've said inflation, it depends on the situation. But right now, cash is more convenient because not all business are knowledgeable about other assets and they are still ignorant about gold and crypto as an investment.

We should consider those people in a lower class who livew in our society that only recognize the value of cash.

Decred Arabia

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Quote from: Darker45 on July 28, 2020, 10:16:50 PM

The name Ray Dalio wouldn't have been made had the man was a constant failure. The man knows and understands a lot.

Well, as to "cash is trash," the world has changed. Bitcoin is an electronic cash. In the digital age, money on hand is what cash is all about. And in this age, money is no longer equal to fiat. Fiat is trash, of course. I mean, the system that built and controlled it.

totally agree, he's very knowledgeable especially in his field. also, I highly recommend to read his free book Big Debt Crises

Darker45

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The name Ray Dalio wouldn't have been made had the man was a constant failure. The man knows and understands a lot.

Well, as to "cash is trash," the world has changed. Bitcoin is an electronic cash. In the digital age, money on hand is what cash is all about. And in this age, money is no longer equal to fiat. Fiat is trash, of course. I mean, the system that built and controlled it.

Beparanf

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Quote from: goaldigger on July 28, 2020, 05:51:24 PM

Cash is not a trash at all because it is still acceptable by many but if you look at its value, then we can say that cash is far behind gold, bitcoin and stock market as well. Those people who are laughing don’t have any kind of investment and didn’t realize its importance. If you want to be beaten by the inflation then go focus on your cash but if you want more, use gold and cryptocurrency.

Cash is not a trash especially to the poor and developing countries, many are dying and unnoticing or risking their lives to earn those cash that they can use in this Pandemic. Even there are Pandemic they still keep going in prone areas with high risk of infection just to earn those cash like in my country where bitcoin and even online banking is not yet popular. Many still depend on cash and we hope that government will change their heart in it and tries to adopt advance changes.

Decred Arabia

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Quote from: dothebeats on July 28, 2020, 07:58:55 PM

The guy's really funny. I mean, you can tell everyone 'I told you so!' after one correct prediction but you're still drowning in your own losses and misjudgments, and that is what this guy's been doing for a year. For now, cash is king due to people's needs during this pandemic, and liquid cash is something that you don't want to miss out especially when stocks are running low on certain necessities. Anyway, the dude is just lucky that his flops are turning into something valuable now, and after a few months, just look how well this guy performed in terms of his assets and he's probably still behind from what he initially started on.

just to be fair, Ray Dalio is a successful hedge fund manager even some people wants to put him as one of the legendary investors in all time . he was able to achieve +12.96% Compound Annual Average

dothebeats

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The guy's really funny. I mean, you can tell everyone 'I told you so!' after one correct prediction but you're still drowning in your own losses and misjudgments, and that is what this guy's been doing for a year. For now, cash is king due to people's needs during this pandemic, and liquid cash is something that you don't want to miss out especially when stocks are running low on certain necessities. Anyway, the dude is just lucky that his flops are turning into something valuable now, and after a few months, just look how well this guy performed in terms of his assets and he's probably still behind from what he initially started on.

Decred Arabia

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I believe it would not take him much to realise the value proposition in cryptocurrencies and specially in Bitcoin. he even expressed his opinion about it in one of his interview, mainly being a speculative vehicle

actmyname

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Quote from: Decred Arabia on July 28, 2020, 05:45:11 PM

Everyone were laughing on Ray Diallo when he said his famous phrase "cash is trash" on 2019 and they even laughed more when his hedge fund tanked 30% under water on early 2020

This makes sense. What, are we supposed to hold our laughter until the guy goes bankrupt or recovers?

Quote from: Decred Arabia on July 28, 2020, 05:45:11 PM

guess what, US stock markets are bullish again and on a stunning V-shaped recovery and Gold recently hit all time high and bitcoin of course in its way to break new price record.

For now. Hindsight is always a funny thing, isn't it? You can use it to pretend like you were smarter in the moment than you actually were: if I went all-in on a 7/2 offsuit in poker and managed to flop a nut 4 of a kind, am I supposed to act like I did the right move? No. It was a stupid move. I just got lucky.

goaldigger

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Cash is not a trash at all because it is still acceptable by many but if you look at its value, then we can say that cash is far behind gold, bitcoin and stock market as well. Those people who are laughing don’t have any kind of investment and didn’t realize its importance. If you want to be beaten by the inflation then go focus on your cash but if you want more, use gold and cryptocurrency.

Decred Arabia

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ديكريد

Everyone was laughing on Ray Diallo when he said his famous phrase "cash is trash" on 2019 and they even laughed more when his hedge fund tanked 30% under water on early 2020. guess what, US stock markets are bullish again and on a stunning V-shaped recovery and Gold recently hit all time high and bitcoin of course in its way to break new price record. So, who's laughing now!. he was damn right.

Topic: Cash Is Trash - page 6. (Read 750 times)