Played out? After OG and Joe’s discussion Wednesday, we ask the roundtable, with more consolidation in the Bitcoin field, is it dying? We also discuss the frightening statistic around vacations…why aren’t American’s taking vacation anymore? Finally, we may or may not poke fun at one of America’s biggest financial blogs.
PLUS: Brad and Jason from the DRAFT app join us to talk roboadvisors. What are they? How will they compete? Why should we (or shouldn’t we) use them vs. traditional firms? If you aren’t familiar with robo-advisors, you should get acquainted….because they’re coming to a computer near you.
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<>Our Topics
- Bitcoin Industry Consolidates: Why Kraken Bought Coinsetter (Yahoo! Finance)
- 41% of Workers Took No Vacation Last Year (MarketWatch)
- Oil Pummels Energy Funds: Alternative Energy Fares Better (Financial Planning)
<>Today’s Roundtable Contributors
Paula Pant
AffordAnything.com: Can We Take a Moment to Reflect on How Lucky We Are?
Greg McFarlane
Investopedia: These Five Stocks Depend on Low-Income Consumers
<> FinTech Report – Robo Advisors, Good-Bad-Ugly
Thanks to Brad & Jason at the DRAFT App for the report.
Find the DRAFT app here.
Listening to The Bitcoin and workers not taking vacation segments were cringe inducing. First of all, money doesn’t need to be backed by anything other than faith. Hence the dollar. Secondly, for 700 years, money was backed by wood in England. It was called the Tally Stick. Bitcoin is produced via Electricity and computing power. And its a store of Economic energy. The reason why the price goes up is because of its scarcity. And until all the Bitcoins are mined(roughly a little less than 6 million more to be mined), Bitcoin is in an inflationary mode. 25 new Bitcoins come into existence every 10 minutes. What happens when 21 million people have a Bitcoin, but the other 7 Billion people want to use it as well? Hyper Deflation and Maximum Purchasing power.
As for why don’t workers take Vacation? For me, it was a safety net if I lost my job. I would take a 3 day weekend then earn back those 8 hours and take another 3 or 4 day vacation. And If I got laid off, I would still have between 164-172 hours(mine were maxed at 180 hrs) I could be paid. I would rather have that safety net than take 2 weeks off playing Halo and eating Mac and Cheese in my underwear and then return to a butt load of work, because the economy is in the dumper and the company is running on a skeleton crew.
Guys, learn about Bitcoin. Its literally Digital Gold. And there are only 21 million of them. If they capture the same market share as Amazon, they will be worth $10k each one day. Supply and demand!
Hey, Bryson! Great comments, and I agree with the time off issue. That’s why I brought it up (obviously). Something has to give.
As for Bitcoin, I still feel like Warren Buffett. I get everything you’re saying and still yawn. As I said on the show, it’s probably me….but I just don’t get it.