One of my SANE CRYPTO Mastermind members asks a great question: What if big banks, brands or governments create their own cryptocurrency? Won't that kill Bitcoin? I'll explain why the question really doesn't matter... which is a fundamental lesson in investing.

We cover: ✓ How in some ways my brain wants to agree but in others disagree ✓ Why what I, or anyone else thinks, really doesn’t matter at all ✓ Why Facebook-coin, Amazon-coin or government-backed cryptocurrency doesn’t matter ✓ Cryptocurrency is a venture capital investment dressed up like a publicly traded asset ✓ Optionality ✓ Optimizing for a range of outcomes ✓ Investing as a probability game ✓ How to play this probability game

This is a really important question and I’m so glad Mike asked.

“Optionality is the property of asymmetric upside (preferably unlimited) with correspondingly limited downside (preferably tiny).” - Nassim Nicholas Taleb, Antifragile

In response to Mike’s question, we talk about: ✓ How in some ways my brain wants to agree but in others disagree ✓ Why what I, or anyone else thinks, really doesn’t matter at all ✓ Why Facebook-coin, Amazon-coin or government-backed cryptocurrency doesn’t matter ✓ Cryptocurrency is a venture capital investment dressed up like a publicly traded asset ✓ Optionality ✓ Optimizing for a range of outcomes ✓ Investing as a probability game ✓ How to play this probability game

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DISCLAIMER: Nothing said on this show should be considered investment advice. Past performance is no guarantee of future results. All investments involve risk and may result in a loss. Investors should consider their investment objectives, risks, charges, and expenses of any and all financial instruments carefully before investing.