the 1st missinformation is that it's money 2 nd biggest missinformation bitcoin will always go up in value (in the long therm) 3rd biggest missinformation the the government can't stop/hinder bitcoin
Hi Guy. Great job on the quality of your videos. Could you make a video for Kaspa? I read great news about it but I would like to see an analysis from you..
have a look at how quantum computers work, they are useless for crypto or conventional computing, it's inprecise, only a decent guess, applicable in huge computation like weather etc
Might not be legal tender but if someone wants to take payment in it, they can take payment in it. Have read of some superyacht and supercar builders accepting payment at least partly, in crypto even in Europe. Even among some of the big companies, big as in fairly mainstream suppliers of these seriously luxury items. I like the one bitcoin is not backed by anything but actually it is, it’s backed by demand. Loads of things have been dismissed as worthless, oil for one, just a pollutant that seeped out of the earth in places, contaminated the land and was considered worthless. Bitcoin might be a bit volatile but if demand is there as a store of value, then it has value. Loads of stocks and shares have gone from value to absolutely nothing, lost forever, in no time. No worse than that.
Exactly. They want it all. Notice how all this negative news is happening right now and all coins going down. The sheep follow this crap. I'm collecting more as the price lowers. Thanks suckers.
Three most important reasons against Bitcoins: 1. Can be hacked 2. Cannot be used when net connection is not there or disrupted due to war, earthquakes, or other calamities. 3.Cannot be used without electricity. So, Bitcoins require so many outside situations and conditions which are not in our control. Whereas, GOLD is free from all outside supporting systems. Moreover, Gold is accepted all over the world, liked all over the world, it has intrinsic value, has been there for 1000s of years.
Yep, 100% I hate it when people compare bitcoin to gold. They’re not even remotely the same thing (I’m pretty sure it’s just because people started depicting it as a gold coin with a B on it) This guy was also wrong about Gold being volatile. While the price does change with the market, it’s usually much more gradual and is considered stable; Bitcoin is not. Cryptocurrency has its uses but in my opinion, it’s future lies in replacing/partially replacing government fiat for day-to-day use as a means of exchange, not in being a store of value (because I don’t believe it actually has any. It has value in the same was fiat currency does, it relies entirely on people trusting it)
agree many. but have you thought through the logistics of taking your gold bar to the shop, and your change? electricity free with the sun. so abundant. but i think. another way. it can be used by the people to remove banks and their global control. i don't know why people talk about taxes, as there is no way to track as its a public system. i imagine a day when the only money is Satoshi. i think its near.
The value of gold could be destroyed overnight. It is well known that the international bankers have countless tons of gold stored away specifically for that purpose. To "market flood" Nothing is safe. (Accept "barter-value" goods) Not even cash in your mattress 😞
the harder they try to convince people how bad Bitcoin is, the worse they look themselves. They can't digest the idea of people really owning their money. Disgusting.
Actually .. I think it's a good idea to tell regular people to stay away. So efin many failures been happening so far, on all levels. You have no stable ground anymore in crypto, everything can go to shit tommorow and there is no safety net. The risk is huge, compared to fiat. And crypto doesn't stay on it's own yet, it's just a fiat investment product, not a viable alternative. People who are in crypto only use crypto for risky investment games. Very few build something as an alternative to fiat, it's just another extenstion of it still. Yeah, the inflation is awfull, but at least it's somewhat safe and it's palpable and guaranteed. I think only risk takers should go into crypto, crypto is not equal to money yet.
The 1 thing bitcoin has that the other cryptos don't is that there is no one for the sec to go after and fine . Who can they send threatening letters to no one at the head of bitcoin to send to jail or fine
I would add a point against a competitor overtaking BTC in store of value: the miners hold the computation power and the asset they hold is BTC. They would be cutting their own throats if they supported another chain.
@@jimyounger9490 In his testimony before Congress in 1912, American financier and investment banker J.P. Morgan stated, “Gold is money. Everything else is credit.”
Actually, if you think about it, gold is neutral. It is the world's most recognized global agreement across all levels of classes that it has universal value. The World has decided gold is valuable. Bitcoin, also neutral, apparently, due to its limited supply, has have had heavy marketing and billions of dollars in mining equipment and marketing to the masses convincing the world bitcoin has value due to its global transaction capabilities, and limited supply. Personally, bitcoin is not easy to transact with, nor is it pleasing to look at.
Guy missed that Bitcoin doesn’t allow micro payments, it has a 1mb block size limit, it’s completely transparent (surveillance coin), and the blockchain can’t cope with large amounts of users transacting at the same time and transaction costs increase to crazy levels when busy.
This clarity is needed - kudos for reporting the facts. Regulations sadly were not led by the USA, and without a clear governance roadmap, Americans and global citizens alike are both confused and hurt financially. Thank you Guy and team, for adding the real facts to this new asset system and blue ocean opportunities. The true value was explained brilliantly along with the history of the technical errors. A deeper dive on the war of influence is needed. A change in the media's narrative is most welcome. Yes, the average person needs to be engaged in this new opportunity!
You don't know anything about cryptocurrencies do you? Do you know why it's taken them 15 years to lie you into believing they CAN regulate cryptocurrencies (and why they can't seem to pass any effective legislation)? The problem is multifold, but the first, and most important is that they literally cannot regulate cryptocurrencies without violating the Constitution, or the Bill of Rights. You might shake your head in disagreement, but you're wrong. Satoshi designed Bitcoin VERY SPECIFICALLY. So specifically, that you can do everything in finance that is currently regulated, and regulate it better than it's ever been regulated. Bitcoin was DESIGNED to be regulatorily, and legally FRICTION-FREE (in and of itself), while giving lawmakers, regulators, and business owners a form of money that can be regulated, and monitored better than any form of money before it. The problem is that it also makes it so that you can enforce the law to the letter of the law, and this gets rid of 99.9999% of all the waste, fraud, abuse, and embezzlement that our government(s) are rife with...which is also why we will never have a CBDC...not even if we wanted one.
@@frankdashwood3128Also if I sell crypto for a profit on coinbase that profit is reported to the IRS and I must pay taxes on it. To me that's regulation. However coinbase wants a fee for me to buy and a fee for me to sell crypto, and if they pull an FTX the U.S. government does not give me FTIC insurance like at a bank. So the government gets the benefits and none of the risk. 🤷
The problem I am most concerned about is the Whales. Like any mark the big players can influence price action. Cross trading can be an issue. Now that the big intuitions are getting more involved with BTC, surely there dirty bag of tricks will come along with their involvement. BTC was sold as the people's money. That can't be claimed any longer.
The same thing applied to 'god'. Invented from nothing; evangelised endlessly via endless different variations; monumentally ensconced; fought over and sacrificed for; and finally accepted as the most massive pile of bullshit in the universe.
Perfect timing. I was just told to “take care” just as I got my notification for Part Of The Problem. Its not always about crypto. Talking current event and liberty is important too.
Very informative, debunks a lot of myths, recently did a survey on some friends looking to dive or dip into crypto, and sadly most of their decision making around financial freedom rests on the mainstream media narratives, and any attempt to sway people away from the fact that legacy media controls narratives and most have questionable journalism and things become much clearer when you follow alternative media sources where you get factual news, and that ultimately makes for better sense and decision making. This video has certainly done the trick of making my friends reconsider where they get their news and info from. Well done Guy! 👍🙌
@agrxdrowflow958 And why will the governments not just outlaw BTC and get that problem fixed ? Are we assuming that the governments will sit let go of controll?
When people ask me about BTC or crypto, I always refer them to you and your channel. You are like the defacto learning center and news for all things related to them.
People need to understand that Bitcoin is the only truly decentralized network, not owned by a person/controlled by a bank, as opposed to all other crypto. Its the first truly free monetary system for the people. Its intention is not to be a payment system (thought it has that function) but a store of value (savings) system.
Another brilliant summary video. Without CB, I'd be grossly misinformed on everything crypto. I don't have the time to seek and read all of these reports. Thanks again for the ad-free, outstanding content. You guys and gals are real heroes
The problem I am most concerned about is the Whales. Like any mark the big players can influence price action. Cross trading can be an issue. Now that the big intuitions are getting more involved with BTC, surely there dirty bag of tricks will come along with their involvement. BTC was sold as the people's money. That can't be claimed any longer.
False. He's actually incorrect, BTC is the propaganda. They are playing you all like a fittle. Never forgot, THE NSA met up with the 4 satoshis in San Francisco back in 2014. Why are they hiding the creator's from you? Do you actually believe some libertarian created this in his basement? 0% chance the government is allowing a competitive currency grow. Anything thats not in American best interest dies, Afghanistan, Iraq, Vietnam, Syria, Libya, Yemen etc. Your all going to get starched
Coin Bureau at its very best - seeking out authoritative reports and summarizing them in language we can all understand. Invaluable. Great work! Many Thanks guy and your team. ❤
except for , an emp/ grid down situation makes your device entirely useless means your locked out or whipped your fortune entirely off the map, taxation - it was only useful when it was not taxed , no intrinsic value - its digits on a screen aka air = worthless unlike food, copper, gold, silver and bullets, only umm idiots/speculators take it - if the world dose not take it it is useless unlike well most other things, its basically a traded stock with a mimic features not entirely useful, all the scams done by asset managers because if you do not hold it you do not own it,
In one breath he says BTC is a store of value and should not be confused with currency as it’s a store of value or money but then when addressing the high amount of energy usage in bitcoin mining he justifies this by asking that if you value financial freedom and the ability to transact freely. Financial freedom and transactions imply spending BTC, do they not?🤔
I used to worry about quantum computing until I learned the hardware has to be in deep freeze against a solar flare, dust storm, blot of mustard, bit of underdone potato.
Also if there were any significant breakthroughs in quantum computing, news of it would likely be surpressed for national security reason. Because of how easily weaponized it can be. Whoever gets there first will do everything to buy some time for critical infrastructure to catch up and upgrade encryption. Much like the top cryptographers in the 90s were targeted and silenced by gov'mnt officials.
i dont understand when you say "bitcoin and crypto". they are all crypto. BTC is a speculative asset since there are no real-world use case, 99.9% of retail holding it are just expecting to double or triple etc their money in the future.
No one even knows who started it. More than likely, the same people who started Bitcoin started CBDC. If it becomes universal, the average person will need an easier system. BTC platforms and my bank don't even sync up.
19:55 That's not necessarily true, just because the amount of wallets are increasing doesn't mean it's being purchased more, it means people have multiple wallets because nobody wants too much BTC in one wallet.
Hey Guy , how about a report on comparison between BTC and BSV ? As a world currency, web3 internet ? Government accepted self regulated ? To be fair to all platforms.
@@SAL-fs1mrif true , you review it and Post the the better chain and why BlackRock and the SEC will hold any movement on ETF until the true Bitcoin is established!
@benjaminollis7621ok in web 3 it will require the ability to handle the expanding requirements for IP expansion IPV6 and without third party imposing their requirements BSV is the best solution to any scale .
All currency must be 1)reliable and stable 2)easily exchangeable for goods on everyday basis 3)undersood by users. Bitcoin, for now, is none of these. It's the tool for speculation not for payment. And yes, some kind of backing by an institution is necessary to guarantee that the currency remains valid. You can argue otherwise but these are simple real-life facts.
You are ignorant. Bitcoin is a store of value not currency. You can’t go and buy bread with gold can you? But you can sel the gold and buy bread with cash.
@@wamingoYes, gold has utility in the physical world; Bitcoin has utility in the digital world. Bitcoin can move in cyberspace. Think how necessary and valuable Bitcoin is in this recently-created new world of cyberspace. Bitcoin is far superior to gold in this cyberspace.
Btc is doom to fail. Halving meabs mining reward is cut in half. Over time it becomes more centralised. Payment in kind meabs BTC runs out..mining becoming unpayable or unworkable. Eventually if you cant validate a ledger transsctions fail and the greater fool trade ends!!!
Any sound money person knows that any extreme in inflation or deflation is problematic. Most persons only know of the extreme of inflation. But extreme deflation is also very problematic. The problem is that guardians of the money system prefers inflation and thus they excerbate the situation when they meddle too much.
The question I've asked but never gotten an answer to is : Iif the grid goes down or an EMP takes out the internet , would all the Bitcoin information be lost or would it still be available when systems recover ? Cash , gold , & silver would survive an outage even during an outage.
How would any store be able to make any sort of cash transaction during an outage? They don't keep moeny in a cigar box under the counter, they wouldn't even be able to look up the price of an item.
A carrington type event has not happened in a long time, that could ruin satellites, transmission lines, and electronics in a great deal of the Earth facing the Sun.@@malaremurilo8046
The real difference between blockchains and gold is that gold is an exceptionally good electrical conductor. One day blockchains will be realised as an answer to resource traceability rather than a speculative financial mechanism.
the only thing that bothers me about bitcoin is the fact that we don't know the identity of the creator. i know its more about the tech but it still causes me to question its origin.
Wait until Jan 2024 when Craig Write goes in the dock... he's already been authencated as the holder of BTS Block 9 - the one that was use to buy the first pizzas
Great report thanks Guy, I just don't get why they put "unknown unkowns" in that list ... there are unknown unknowns about pretty much every single thing you can think about in the Universe ...
@@CosmicSeeker69yes there is stop being closed minded, one I just randomly made up that is a onknowm unknown is a asteroid or a literal giant hunk of gold crashes into the planet and gold market crash as there is more good ( I know how stupid this sounds but it’s just an example and it’s stupid and easy to understand so I used it ) I’m sure people can list an infinite numbers of unknown unknowns nothing is impossible there is always a chance even if it’s like 0.000000001
XRP is decentralized and supports CBDC’s is deflationary also can be traded or transacted quick and cheap. Deflationary means it becomes scarce over time. It’s superior. If not explain why not?
I don't really see many people having an issue with anything you have mentioned. It's mainly the speed of transactions, the cost of transactions, the block chain verification collapsing when the last coin is mined, the fact that 99.99% of people are using it strictly as an investment rather than a way to pay.
I started trading bitcoin four years ago and have already made $736,209. And then I woke up and found that my $5k is now worth just over $5k again.Happy Days. But it has been a gut wrenching rollercoaster ride.
Although I agree with nost of this video, deflation isn't just rich people worrying about debt. Deflation in an economy causes people to stop spending ehich then effectively shuts down an economy - currently china has a consumption problem, and the Yuan being deflationary only made it worse.
I would have thought Governments could control Bitcoin or the citizens use and access to it if they really wanted to. Just tax it into oblivion until nobody wants it for example. I want to buy some crypto but there are real risks and even if you make a profit can you get to keep it before some scammer, fraudster steals it ?
Lol I love btc but let's get real here...biggest criticism is the only way to securely store btc is super complex and sketchy...everyday users will never adopt with giant seed phrases and complicated hard wallets
i would add a point against bugs and unknown unknowns. TIME marching on without errors or problems continually diminishes these concerns to the point where they are negligible by reasonable people. People get on airplanes and they have the same concerns. In fact, BTC is magnitudes more tested than airplanes and airplanes crash all the time.
BTCs only weakness is its exponentially decreasing block rewards/security. Shouldnt be a big issue for several more years though. But, it will become an issue at some point.
On the one side Bitcoin has possible failure due to lack of a security budget, if it doesn't earn enough fees. Then, on the other side, if it does earn substantial fees, technology companies will be incentived to capture the mining rewards, and not share the technology. For example, quantum computers or state capture of mining rig companies.
It can't, most millionaires won't ever own a full bitcoin much less people who are not millionaires. Let that sink in. Blackrock and other institutions are buying it up. I wonder why?
I need to track every crypto transaction I make , mining, staking, buying, converting, selling and it SUCKS! NO Need to track the 1000+ Visa transactions I make. Can't image if I could transact in Crypto vs Visa. It would an even bigger accounting nightmare.
All other altcoins have creators that own way more % of those coins. Conclusion: Bitcoin is still the best asset to own, and altcoins shouldn't be considered.
At some point in the future all BTC will have been mined. When the reward structure runs out how can miners get paid? I know that’s not for around 100years but it points to a terminal situation for the network.
To me, the biggest risk to bitcoin, aside from quantum computing, is that it still has a team of developers actively making changes to the bitcoin source code, or at least still have the ability to do so. Developers are people who can make mistakes, can change their view, and can be influenced by governments, organizations, or any single person that doesn't have bitcoin's best interest in mind.
Another fork will be required with quantam resistant code and that team would be rejected if they did something stupid.Then again inscriptions are a terrible but still here because the miners are making so much
Your "Bad for the environment" bit sounds like an apologist's piece. If we are being intellectually honest, and not deluding ourselves, we must admit the absurd energy requirements of crypto.
And? Let's admit the absurd energy requirements of EV's and the mining/processing/infrastructure to support it. Everything has a cost bozo. The real question is, is it worth it?
How would the narrative change ,If Satoshi’s intention always was to sell .? How would the current-narrative characterise his / her / their intentions / inclinations ? How accomodating can a viewpoint be , backed by such resilience and instrumental foresight ?
The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC, ETH.... stock,silver and gold)
Too biased and highly manipulative material. I used to watch Coin bureau because of fair-minded information they provide. Obviously not anymore. The only use case for BTC is store of value, but it's questionable. We'll see. Bitcoin cannot be used as a mean of payments, Litecoin is a joke. Nobody is taking it seriously. BTC is losing its decentralization and as it appears to me the only role of Blackrock entering the scene is to make it more controllable, which appeals well to the US authorities. From technology perspective BTC, compared to the most advanced L1 blockchains, is a prehistoric being which don't evolve and will dye eventually.
I’m completely ignorant when it comes to crypto and bitcoin topic but I’m desperately trying to understand and learn how I can invest. Do you have any suggestions on where I can learn more about it from a source without bias or an agenda? Should I not invest anymore into bitcoin?
Always great information but I will never trust crypto, too many rug pulls and that fact that I can creat a cryptocurrency myself kills the idea to me that bitcoin project its self from succeeding in the long run. It’s is not gold, at the very least gold is used as a a conductor in microchips
Regulations are already excessive in the UK so much so that it is repelling inward investment and making it difficult for ordinary people and business. The UK is sadly becoming an outlier globally and repelling fin tech start ups, crypto companies, and this new innovative sector of the financial services industry with cryptocurrencies.
Gotta say, anyone attempting to understate BTC’s extraordinary volatility and assert that it can serve as an effective Store of Value, is pushing out some major cope. It IS self-evidently unsuitable as a Store of Value under current conditions. It WILL likely become an effective Store of Value in time, but it currently is NOT. Any asset capable of shedding 3/4 of its value in the space of 12 months is not a credible Store of Value. I find it remarkable that anyone can even attempt to make the argument of BTC as SoV when it’s still 50% down from its ATH. It’s still a relative risk-on, speculative asset. Any business with this level of stock price volatility would be seen as a basket-case and would likely be the plaything of the PnD, WSB and degen types. And I say all this as a BTC holder.
Sounds like you are new to the space and not familiar with VOLATILITY when it comes to evolution a new technology..it is Crazy!!...hang in there you will one day 😎
@@anm7018 I’ve been in since late 2020, so not so green. But thanks for trying to patronise me. 😉 Volatility ain’t rocket science. You are actually making the point for me. Currently, Bitcoin ISN’T a good SoV, because it’s early and lacks the broad technological adoption and institutional and deep public investment that can stabilise prices and reduce volatility. It will become more stable, and serve as a good SoV, but that’s still likely 1-3 more market cycles away, imo. Any asset that routinely sheds >50% of its price during bear market cycles cannot reasonably be described as a good SoV. To describe it as such is premature and wishful thinking. Similarly, it’s ridiculous to hear crypto insiders speculate that Bitcoin will achieve a mkt cap similar to gold, possibly, they speculate, by replacing gold as the premium SoV asset. They talk as though Gold is going to quietly become unattractive as an SoV. It isn’t. Bitcoin might join gold as a premium SoV (in a decade or two), but it certainly won’t be taking all of gold’s mkt cap.
@@ralphmedina3437 Not fretting. Not a newb either. But, you don’t need to be a crypto OG to see that BTC is a questionable SOV for anything shorter than a 4-year timeline.
Question: 1) how is it a store of value when it has no inherent value? Gold can be used in other ways for instance. Code is just code at the end of the day. 2) how is it the most secure system? Didn’t Silk Road change that? 3) immense energy use but it’s mostly renewable energy… wouldn’t that renewable energy be used elsewhere of it weren’t used for mining? 4) possibility of a bug? Isn’t it a regulatory problem that its creator is a secret? There is still no legal clarity for bitcoin, only individual opinions. How can a fiduciary justify gambling investor money on this? I’ll take your answers off air, thanks!
How does a money than you can take complete self custody of and have the ability to transact with whomever you want whenever you want, free from the preying eyes and control of any bank or government not have any value. Do you think the dollar has value ? The Argentine peso ? They destroy all these currency’s every year with inflation. BTC has a fixed supply, it is fair money and cannot be cheated. If you cannot understand why BTC is so important in this modern world then you are blind.
Exactly who can carry gold. Even if you bought gold...how you buy it is through blockchain technology soon all markets shopping banking all online all on blockchain and then all on AI BLOCKCHAIN! THE FUTURE IS IN THE NOW!! XRP will be used in every transaction plus be in ETF'S whether you want it or not. It is happening now as I write this! Wake the efff up people!
1) Store of value - Decentralisation and the belief that it can allow people to take control of the finance away from the governments and the banks. I think it is the idea behind it and the promise of a change that that creates the value. Gold can be used in manufacture but btc is used to fuel the idealism and hope for the better future, which may have a far greater value than gold and will always have value for as long as people will dream about the financial freedom and alternative world. 2) extremely difficult for any malicious actor to alter the blockchain, as it would require a majority of the network's computational power. Decentralized nature means there is no central point of failure. The network is maintained by a global collection of miners, making it resistant to censorship and control by any single entity. Bitcoin has the largest network of miners compared to other cryptocurrencies. This extensive and geographically diverse miner base contributes to the security of the network, as coordinating a majority attack (like a 51% attack) becomes increasingly difficult with more participants.Bitcoin has the highest hash rate of any cryptocurrency network, indicating a vast amount of computational power. A higher hash rate makes the network more secure against potential attacks.The design of Bitcoin economically disincentivizes attacks. Attacking the network would require immense resources, and the potential gains are usually outweighed by the costs, especially given the subsequent loss in the value of Bitcoin that would likely follow a successful attack.The Bitcoin community and its developers are constantly working to identify and fix vulnerabilities, improving the protocol over time.
As far as I can tell, BTC is a technology stock. Not many people use it for payments. Everyone is speculating on increased value. It pays no dividend. Trades are reported like stocks on your tax return. Its value is measured in USD. If shtf, the first thing to go will be computers and the internet, or at least civilian access to the internet.
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Great coverage thanks guy 🙏
the 1st missinformation is that it's money
2 nd biggest missinformation bitcoin will always go up in value (in the long therm)
3rd biggest missinformation the the government can't stop/hinder bitcoin
Bitcoin is the future
Hi Guy. Great job on the quality of your videos. Could you make a video for Kaspa? I read great news about it but I would like to see an analysis from you..
have a look at how quantum computers work, they are useless for crypto or conventional computing, it's inprecise, only a decent guess, applicable in huge computation like weather etc
In Canada, bitcoin isn't even consider legal tender yet the government taxes it. Seems a little shady.
Trudeau is a very shady. Girly man
Indeed….government IS shady
Might not be legal tender but if someone wants to take payment in it, they can take payment in it. Have read of some superyacht and supercar builders accepting payment at least partly, in crypto even in Europe. Even among some of the big companies, big as in fairly mainstream suppliers of these seriously luxury items.
I like the one bitcoin is not backed by anything but actually it is, it’s backed by demand. Loads of things have been dismissed as worthless, oil for one, just a pollutant that seeped out of the earth in places, contaminated the land and was considered worthless. Bitcoin might be a bit volatile but if demand is there as a store of value, then it has value. Loads of stocks and shares have gone from value to absolutely nothing, lost forever, in no time. No worse than that.
i‘m sure bitcoin isn‘t taxed, but your dollar income through btc-sells is.
@@jayjayDrm if for the year you have capital gains. You may have losses that eat up some of those taxes.
When the media and banks/governments tell you not to buy it, you need to get a shed load.
actually they say to buy it now )))
Well they created it so..
Truth
@@thomasjgour4678The banks and media did not create Bitcoin.
Exactly. They want it all. Notice how all this negative news is happening right now and all coins going down. The sheep follow this crap. I'm collecting more as the price lowers. Thanks suckers.
Three most important reasons against Bitcoins:
1. Can be hacked
2. Cannot be used when net connection is not there or disrupted due to war, earthquakes, or other calamities.
3.Cannot be used without electricity.
So, Bitcoins require so many outside situations and conditions which are not in our control.
Whereas, GOLD is free from all outside supporting systems.
Moreover, Gold is accepted all over the world, liked all over the world, it has intrinsic value, has been there for 1000s of years.
Not to mention solar flares knocking out Elec. Or man made EMPs. Poof!
Yep, 100%
I hate it when people compare bitcoin to gold. They’re not even remotely the same thing (I’m pretty sure it’s just because people started depicting it as a gold coin with a B on it)
This guy was also wrong about Gold being volatile. While the price does change with the market, it’s usually much more gradual and is considered stable; Bitcoin is not.
Cryptocurrency has its uses but in my opinion, it’s future lies in replacing/partially replacing government fiat for day-to-day use as a means of exchange, not in being a store of value (because I don’t believe it actually has any. It has value in the same was fiat currency does, it relies entirely on people trusting it)
agree many. but have you thought through the logistics of taking your gold bar to the shop, and your change? electricity free with the sun. so abundant.
but i think. another way. it can be used by the people to remove banks and their global control. i don't know why people talk about taxes, as there is no way to track as its a public system. i imagine a day when the only money is Satoshi. i think its near.
The value of gold could be destroyed overnight. It is well known that the international bankers have countless tons of gold stored away specifically for that purpose. To "market flood"
Nothing is safe. (Accept "barter-value" goods)
Not even cash in your mattress
😞
Right, even sub-saharan africa has almost reliable electricity at this point. When was the last time an electric outage lasted mroe than a day?
the harder they try to convince people how bad Bitcoin is, the worse they look themselves. They can't digest the idea of people really owning their money. Disgusting.
Exactly 👍
BTC is like a mirror. The closer you pay attention to it the more you see yourself and your motives.
Actually .. I think it's a good idea to tell regular people to stay away. So efin many failures been happening so far, on all levels. You have no stable ground anymore in crypto, everything can go to shit tommorow and there is no safety net. The risk is huge, compared to fiat. And crypto doesn't stay on it's own yet, it's just a fiat investment product, not a viable alternative. People who are in crypto only use crypto for risky investment games. Very few build something as an alternative to fiat, it's just another extenstion of it still. Yeah, the inflation is awfull, but at least it's somewhat safe and it's palpable and guaranteed. I think only risk takers should go into crypto, crypto is not equal to money yet.
@@Marian-ng3do
Now do the lose of value on the US dollar since 1971.
The 1 thing bitcoin has that the other cryptos don't is that there is no one for the sec to go after and fine . Who can they send threatening letters to no one at the head of bitcoin to send to jail or fine
Guy is killing it. Bringing high quality coverage on BTC
I wish he would do more about Bitcoin specifically, less on altcoin distractions.
The whole team are : D
BTC is antique & ETH is fundamentally flawed. Old news. Quant & ICP will replace them. It is all an agenda
I would add a point against a competitor overtaking BTC in store of value: the miners hold the computation power and the asset they hold is BTC. They would be cutting their own throats if they supported another chain.
They don't want anything messing with traditional finance.
Quant & ICP are about to reign for years. The world you know is already gone
Gold is money everthing else is credit.
Gold is just medal. Nothing magical about it. No more magical than paper.
@@jimyounger9490 In his testimony before Congress in 1912, American financier and investment banker J.P. Morgan stated, “Gold is money. Everything else is credit.”
Actually, if you think about it, gold is neutral. It is the world's most recognized global agreement across all levels of classes that it has universal value. The World has decided gold is valuable. Bitcoin, also neutral, apparently, due to its limited supply, has have had heavy marketing and billions of dollars in mining equipment and marketing to the masses convincing the world bitcoin has value due to its global transaction capabilities, and limited supply. Personally, bitcoin is not easy to transact with, nor is it pleasing to look at.
Is good to have both 😎
@@jimyounger9490actually it’s much more secure in terms of value and cannot be easily created or destroyed.
Guy missed that Bitcoin doesn’t allow micro payments, it has a 1mb block size limit, it’s completely transparent (surveillance coin), and the blockchain can’t cope with large amounts of users transacting at the same time and transaction costs increase to crazy levels when busy.
This clarity is needed - kudos for reporting the facts. Regulations sadly were not led by the USA, and without a clear governance roadmap, Americans and global citizens alike are both confused and hurt financially. Thank you Guy and team, for adding the real facts to this new asset system and blue ocean opportunities. The true value was explained brilliantly along with the history of the technical errors. A deeper dive on the war of influence is needed. A change in the media's narrative is most welcome. Yes, the average person needs to be engaged in this new opportunity!
You don't know anything about cryptocurrencies do you? Do you know why it's taken them 15 years to lie you into believing they CAN regulate cryptocurrencies (and why they can't seem to pass any effective legislation)? The problem is multifold, but the first, and most important is that they literally cannot regulate cryptocurrencies without violating the Constitution, or the Bill of Rights. You might shake your head in disagreement, but you're wrong. Satoshi designed Bitcoin VERY SPECIFICALLY. So specifically, that you can do everything in finance that is currently regulated, and regulate it better than it's ever been regulated. Bitcoin was DESIGNED to be regulatorily, and legally FRICTION-FREE (in and of itself), while giving lawmakers, regulators, and business owners a form of money that can be regulated, and monitored better than any form of money before it.
The problem is that it also makes it so that you can enforce the law to the letter of the law, and this gets rid of 99.9999% of all the waste, fraud, abuse, and embezzlement that our government(s) are rife with...which is also why we will never have a CBDC...not even if we wanted one.
You are wrong. Bitcoin is extremely vulnerable.
@@cartour8425 No, I am not wrong. Cryptocurrencies will be just fine.
@@frankdashwood3128Also if I sell crypto for a profit on coinbase that profit is reported to the IRS and I must pay taxes on it. To me that's regulation.
However coinbase wants a fee for me to buy and a fee for me to sell crypto, and if they pull an FTX the U.S. government does not give me FTIC insurance like at a bank. So the government gets the benefits and none of the risk. 🤷
BLUE OCEAN OPPORTUNITIES..........WITH A LEAKING RAFT......GOOD LUCK !
they want to keep retail out intill its at its peak, they want you out when there buying then want you in when there selling
Of course- duh! And kudos to you for noticing and sharing :)
The problem I am most concerned about is the Whales. Like any mark the big players can influence price action. Cross trading can be an issue. Now that the big intuitions are getting more involved with BTC, surely there dirty bag of tricks will come along with their involvement. BTC was sold as the people's money. That can't be claimed any longer.
Especially in this ETF era were in, it's great for money go up, but there are downsides no one is talking about
The same thing applied to 'god'. Invented from nothing; evangelised endlessly via endless different variations; monumentally ensconced; fought over and sacrificed for; and finally accepted as the most massive pile of bullshit in the universe.
Perfect timing. I was just told to “take care” just as I got my notification for Part Of The Problem. Its not always about crypto. Talking current event and liberty is important too.
Very informative, debunks a lot of myths, recently did a survey on some friends looking to dive or dip into crypto, and sadly most of their decision making around financial freedom rests on the mainstream media narratives, and any attempt to sway people away from the fact that legacy media controls narratives and most have questionable journalism and things become much clearer when you follow alternative media sources where you get factual news, and that ultimately makes for better sense and decision making. This video has certainly done the trick of making my friends reconsider where they get their news and info from. Well done Guy! 👍🙌
I wouldn't take advice from someone who doesn't know when to use a full stop.
Whenever you say link in the description, there’s almost never a direct link in the description.
I only need to know one thing. Anything digital can be erased. Lets see who stands where when the power is out.
If “the power is out”, we’ll all have much more to worry about than Bitcoin.
@@m.vonhollen6673 Exactly 💯
Great plan. Just don't participate in anything b/c one day the power might go out.
@oldscratch3535 I participate in lots of stuff that's hands-on. Who's not to say I'm already sitting on a gold mine. 😂
One EMP and it all goes poof.....
All of the critisism above appplies also to Tesla but they buy that like crazy.
Why did Musk stop allowing purchase via Bitcoin?
Guy, thanks so much for educating the world on cryptocurrency and Bitcoin. I think that everyone should view this video.
The real value is energy, productivity and innovation
Satoshi returning is either 50% up or 50% down on BTC in a single day, very much unknown unknown factor
Kudos to you Mr. Guy! for keeping up enlighting us on crypto-finances
CBDC will be a massive marketing push for BTC.
How so?
@@fightphreak CBDC will be so awful, people will suddenly desire an alternative. Digital money without bs woke strings attached.
That'll be Quant & will one day replace BTC
ICP will replace ETH
@agrxdrowflow958 And why will the governments not just outlaw BTC and get that problem fixed ? Are we assuming that the governments will sit let go of controll?
@@agrxdrowflow958 hmmm. In that case why not just stick with dollars and cents? It's an alternative which has PROVEN to work.
Hit 110k last week, lost over 14k today
When people ask me about BTC or crypto, I always refer them to you and your channel. You are like the defacto learning center and news for all things related to them.
Bitcoin = freedom to the people 💫❤️🌏
Thanks guy
That's why they will end up controlling it
How can it be freedom for the people when institutions and whales own most of it
They'll destroy it. Quant & ICP will control the entire world
Except for those who don't HAVE any! And those tht DO are imprisoned by their cryptocrap. ie NOT nearly as free as a cockroach.
Thank you so much for all the information and hard work you put out in your videos 🙏
People need to understand that Bitcoin is the only truly decentralized network, not owned by a person/controlled by a bank, as opposed to all other crypto. Its the first truly free monetary system for the people. Its intention is not to be a payment system (thought it has that function) but a store of value (savings) system.
Another brilliant summary video. Without CB, I'd be grossly misinformed on everything crypto. I don't have the time to seek and read all of these reports. Thanks again for the ad-free, outstanding content. You guys and gals are real heroes
The problem I am most concerned about is the Whales. Like any mark the big players can influence price action. Cross trading can be an issue. Now that the big intuitions are getting more involved with BTC, surely there dirty bag of tricks will come along with their involvement. BTC was sold as the people's money. That can't be claimed any longer.
"SAID THE JUDAS GOAT"
I would trust some Guy on RUclips before mainstream media any day
" In CB and BTC We Trust "
Fabulous point you’ve e made.
like the fake doctors eh?
Thank you for informing and making people aware of the deceptions of governments and their motives for them regarding Bitcoin
False. He's actually incorrect, BTC is the propaganda. They are playing you all like a fittle. Never forgot, THE NSA met up with the 4 satoshis in San Francisco back in 2014. Why are they hiding the creator's from you? Do you actually believe some libertarian created this in his basement? 0% chance the government is allowing a competitive currency grow. Anything thats not in American best interest dies, Afghanistan, Iraq, Vietnam, Syria, Libya, Yemen etc. Your all going to get starched
Hi do you by any chance know if there is any way left to buy Btc or xrp kyc free?
Thanks! R.Heart mention this things 3 years ago! But thanks for the update!
Coin Bureau at its very best - seeking out authoritative reports and summarizing them in language we can all understand.
Invaluable.
Great work!
Many Thanks guy and your team. ❤
Thank you!!
Nothing can really stop BTC!!💯💯💯
except for , an emp/ grid down situation makes your device entirely useless means your locked out or whipped your fortune entirely off the map, taxation - it was only useful when it was not taxed , no intrinsic value - its digits on a screen aka air = worthless unlike food, copper, gold, silver and bullets, only umm idiots/speculators take it - if the world dose not take it it is useless unlike well most other things, its basically a traded stock with a mimic features not entirely useful, all the scams done by asset managers because if you do not hold it you do not own it,
Quant will. Mark my words you'll see it take down BTC. You'll also see ICP take down ETH
Guy, you are always one step ahead. Thank you sir! Very informative!!!
In one breath he says BTC is a store of value and should not be confused with currency as it’s a store of value or money but then when addressing the high amount of energy usage in bitcoin mining he justifies this by asking that if you value financial freedom and the ability to transact freely. Financial freedom and transactions imply spending BTC, do they not?🤔
I used to worry about quantum computing until I learned the hardware has to be in deep freeze against a solar flare, dust storm, blot of mustard, bit of underdone potato.
Those issues will be fixed. That’s how technology works
Also if there were any significant breakthroughs in quantum computing, news of it would likely be surpressed for national security reason. Because of how easily weaponized it can be. Whoever gets there first will do everything to buy some time for critical infrastructure to catch up and upgrade encryption. Much like the top cryptographers in the 90s were targeted and silenced by gov'mnt officials.
If you only listen to 1 utube channel a day, guy is the show you need watch. He is great for news outside of crypto. Best financial show out there.
Moral of the story keep it as a store of value, do NOT 🚫 Spend!
At which point the question becomes: Can't eat it; can't wipe my arse with it; can't spend it; WTF is it any good for?
i dont understand when you say "bitcoin and crypto". they are all crypto.
BTC is a speculative asset since there are no real-world use case, 99.9% of retail holding it are just expecting to double or triple etc their money in the future.
No one even knows who started it. More than likely, the same people who started Bitcoin started CBDC.
If it becomes universal, the average person will need an easier system.
BTC platforms and my bank don't even sync up.
19:55 That's not necessarily true, just because the amount of wallets are increasing doesn't mean it's being purchased more, it means people have multiple wallets because nobody wants too much BTC in one wallet.
There are false many claims in this video.
Here in global south we are in more and more.
Does it alert anyone they use the dollar to buy the coin .
Bitcoin don't make sense for the very wealthy and for the very poor, but only to those that wants something out of it
Blackrock is the very wealthy, and they are buying it up, so is Fidelity. So there goes your theory.
THANKS FROM AUSTRALIA
Hey Guy , how about a report on comparison between BTC and BSV ?
As a world currency, web3 internet ?
Government accepted self regulated ? To be fair to all platforms.
We don't need to waste time talking about shitcoins like BSV.
@@SAL-fs1mrif true , you review it and
Post the the better chain and why BlackRock and the SEC will hold any movement on ETF until the true Bitcoin is established!
@benjaminollis7621 we don't need to waste time talking about shitcoins like ICP
@benjaminollis7621ok in web 3 it will require the ability to handle the expanding requirements for IP expansion IPV6 and without third party imposing their requirements BSV is the best solution to any scale .
All currency must be 1)reliable and stable 2)easily exchangeable for goods on everyday basis 3)undersood by users. Bitcoin, for now, is none of these. It's the tool for speculation not for payment. And yes, some kind of backing by an institution is necessary to guarantee that the currency remains valid. You can argue otherwise but these are simple real-life facts.
You are ignorant. Bitcoin is a store of value not currency. You can’t go and buy bread with gold can you? But you can sel the gold and buy bread with cash.
BITCOIN WILL BE USED AS A STORE OF VALUE JUST LIKE GOLD IS , BITCOIN WONT BE USED FOR PAYMENTS
Gold has utility.
Bitcoin? Not so much.
Your useless opinion has no effect on everyone currently using Bitcoin for payments on the lightning network.
@@SAL-fs1mr A vanishingly small number, I'm sure.
@@SAL-fs1mr WHO CARES
@@wamingoYes, gold has utility in the physical world; Bitcoin has utility in the digital world.
Bitcoin can move in cyberspace.
Think how necessary and valuable Bitcoin is in this recently-created new world of cyberspace. Bitcoin is far superior to gold in this cyberspace.
Btc is doom to fail. Halving meabs mining reward is cut in half. Over time it becomes more centralised. Payment in kind meabs BTC runs out..mining becoming unpayable or unworkable. Eventually if you cant validate a ledger transsctions fail and the greater fool trade ends!!!
Bit coin is not an asset it's a huge unknown.
It's literally an asset class.
Bitcoin is 1 word!
For you yes, for others who know it is the most valuable asset, it is a well known item. The truth can only be discerned in time.
lol it’s a better long term store of value than the US dollar.
😊@@elizabethk3238
Any sound money person knows that any extreme in inflation or deflation is problematic. Most persons only know of the extreme of inflation. But extreme deflation is also very problematic. The problem is that guardians of the money system prefers inflation and thus they excerbate the situation when they meddle too much.
The question I've asked but never gotten an answer to is : Iif the grid goes down or an EMP takes out the internet , would all the Bitcoin information be lost or would it still be available when systems recover ? Cash , gold , & silver would survive an outage even during an outage.
Internet cant be taken down
BTC has already been hacked twice. not only could it all disappear there are an endless supply of unknown unknowns
How would any store be able to make any sort of cash transaction during an outage? They don't keep moeny in a cigar box under the counter, they wouldn't even be able to look up the price of an item.
@@iknklst cash was used before electricity & old ways would be reverted to.
A carrington type event has not happened in a long time, that could ruin satellites, transmission lines, and electronics in a great deal of the Earth facing the Sun.@@malaremurilo8046
The real difference between blockchains and gold is that gold is an exceptionally good electrical conductor.
One day blockchains will be realised as an answer to resource traceability rather than a speculative financial mechanism.
Love the daily alpha!!!!!
Will the IRS except bit coin as paymen for a tax debt?
the only thing that bothers me about bitcoin is the fact that we don't know the identity of the creator. i know its more about the tech but it still causes me to question its origin.
Darpa
My money is still on a giant whale. Who will get out just as the government bans or takes control of it.
He dead
Wait until Jan 2024 when Craig Write goes in the dock... he's already been authencated as the holder of BTS Block 9 - the one that was use to buy the first pizzas
HEALTH IS YOUR WEALTH BITCOIN IS YOUR FREEDOM
Great report thanks Guy, I just don't get why they put "unknown unkowns" in that list ... there are unknown unknowns about pretty much every single thing you can think about in the Universe ...
there's no 'unknowns' about physical gold
@@CosmicSeeker69yes there is stop being closed minded, one I just randomly made up that is a onknowm unknown is a asteroid or a literal giant hunk of gold crashes into the planet and gold market crash as there is more good ( I know how stupid this sounds but it’s just an example and it’s stupid and easy to understand so I used it ) I’m sure people can list an infinite numbers of unknown unknowns nothing is impossible there is always a chance even if it’s like 0.000000001
XRP is decentralized and supports CBDC’s is deflationary also can be traded or transacted quick and cheap. Deflationary means it becomes scarce over time. It’s superior. If not explain why not?
Quant is the future of all that & the only one that can hit BTC price levels. ICP will replace ETH. It is all an agenda
Everything is a lie or we wouldn't be at this point😢
Yes it is a lie that they don´´t want to admit the steal.
You buy Bitcoin using USD with the hopes of selling it for more USD. End of story.
I don't really see many people having an issue with anything you have mentioned.
It's mainly the speed of transactions, the cost of transactions, the block chain verification collapsing when the last coin is mined, the fact that 99.99% of people are using it strictly as an investment rather than a way to pay.
China still needs more of American money and once they do Satoshi will sell. That has always been the plan. China is also buying up all the gold
Crypto is a threat to the fiat system
So true.. untill everyone pegs its value to fiat
@@schanzennar1294 True
I started trading bitcoin four years ago and have already made $736,209. And then I woke up and found that my $5k is now worth just over $5k again.Happy Days. But it has been a gut wrenching rollercoaster ride.
But BTC is heavily reliant on Govt Expansion of fiat money...in order for the price of BTC to go up...notice that when QE stopped...BTC stalled out.
Still missing the whole point - value is not determined by fake, ponzi scheme, debt based government issued currency. BTC is digital property.
BTC is a software program.
Although I agree with nost of this video, deflation isn't just rich people worrying about debt. Deflation in an economy causes people to stop spending ehich then effectively shuts down an economy - currently china has a consumption problem, and the Yuan being deflationary only made it worse.
I would have thought Governments could control Bitcoin or the citizens use and access to it if they really wanted to. Just tax it into oblivion until nobody wants it for example. I want to buy some crypto but there are real risks and even if you make a profit can you get to keep it before some scammer, fraudster steals it ?
Yes you are probably right. I suppose it also depends on how much you want to risk. Cheers
Scammers and fraudsters steal your fiat currency as well. In fact, they steal it more often than BTC.
I mean BINANCE kinda put the last nail in spreading fear
Excellent video as always Guy
Lol I love btc but let's get real here...biggest criticism is the only way to securely store btc is super complex and sketchy...everyday users will never adopt with giant seed phrases and complicated hard wallets
Very well done👏🇦🇺
i would add a point against bugs and unknown unknowns. TIME marching on without errors or problems continually diminishes these concerns to the point where they are negligible by reasonable people. People get on airplanes and they have the same concerns. In fact, BTC is magnitudes more tested than airplanes and airplanes crash all the time.
BTCs only weakness is its exponentially decreasing block rewards/security. Shouldnt be a big issue for several more years though. But, it will become an issue at some point.
Will still be stronger than any other monetary systems.
And minners also get the transaction fees. It will eventually be enough since the nore people use it, the more fees they will get.
The weakness is that the people values it according to fiat hehe
they will be exit by then.... Eventually Blockchain will stop working and Bitcoin will become like a stock in the form of Wrapped BTC
On the one side Bitcoin has possible failure due to lack of a security budget, if it doesn't earn enough fees. Then, on the other side, if it does earn substantial fees, technology companies will be incentived to capture the mining rewards, and not share the technology. For example, quantum computers or state capture of mining rig companies.
Quantum computers will be used to upgrade the encryption if necessary
And why would someone destroy their own wealth by destroying bitcoin
Can anyone explain to me how 21 million coins can supply the planet of over 7 billion people?
Crickets
It can't, most millionaires won't ever own a full bitcoin much less people who are not millionaires. Let that sink in. Blackrock and other institutions are buying it up. I wonder why?
Uma unidade menor do Bitcoin chamada satoshis. Cada btc tem 100 milhões de satoshis. O povo vai usar satoshis na segunda camada. Abraços.
I need to track every crypto transaction I make , mining, staking, buying, converting, selling and it SUCKS! NO Need to track the 1000+ Visa transactions I make. Can't image if I could transact in Crypto vs Visa. It would an even bigger accounting nightmare.
Satoshi Nakamoto has over million BTC, beware he will dump all his BTC in your face.😂😂😂
He will dump on tradfi nerds
All other altcoins have creators that own way more % of those coins. Conclusion: Bitcoin is still the best asset to own, and altcoins shouldn't be considered.
At some point in the future all BTC will have been mined. When the reward structure runs out how can miners get paid? I know that’s not for around 100years but it points to a terminal situation for the network.
Transfer fees.
To me, the biggest risk to bitcoin, aside from quantum computing, is that it still has a team of developers actively making changes to the bitcoin source code, or at least still have the ability to do so. Developers are people who can make mistakes, can change their view, and can be influenced by governments, organizations, or any single person that doesn't have bitcoin's best interest in mind.
Another fork will be required with quantam resistant code and that team would be rejected if they did something stupid.Then again inscriptions are a terrible but still here because the miners are making so much
Rejected by whom? People who reject people are still people, subject to the same flaws as the people they're rejecting
Guys do you by any chance know if there is any way left to buy Btc or xrp kyc free?
Carbon is the basis of all life. It is a good thing!
Your "Bad for the environment" bit sounds like an apologist's piece. If we are being intellectually honest, and not deluding ourselves, we must admit the absurd energy requirements of crypto.
And? Let's admit the absurd energy requirements of EV's and the mining/processing/infrastructure to support it. Everything has a cost bozo. The real question is, is it worth it?
How would the narrative change ,If Satoshi’s intention always was to sell .? How would the current-narrative characterise his / her / their intentions / inclinations ? How accomodating can a viewpoint be , backed by such resilience and instrumental foresight ?
Thank you for your work and for explaining things to those of us who don't have time to study crypto in-depth.
$5 a week is a fine DCA. $240 in a year not accounting for price fluctuations but 5 years of growth will make that a lot more.
Guys do you know if there is any way left to buy Btc or xrp kyc free?
Bitcoin is by no means deinflationary. The supply is inflating and not deflating. Although this inflation itself is slowing down every four years.
Great video!!
Investigation into Teranode (BSV) might open your eyes ! Time to get behind the 8 ball.
You can't have endless war without endless money printing. BTC can help bring peace to the world.
The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC, ETH.... stock,silver and gold)
Too biased and highly manipulative material. I used to watch Coin bureau because of fair-minded information they provide. Obviously not anymore. The only use case for BTC is store of value, but it's questionable. We'll see. Bitcoin cannot be used as a mean of payments, Litecoin is a joke. Nobody is taking it seriously. BTC is losing its decentralization and as it appears to me the only role of Blackrock entering the scene is to make it more controllable, which appeals well to the US authorities. From technology perspective BTC, compared to the most advanced L1 blockchains, is a prehistoric being which don't evolve and will dye eventually.
Well said
I’m completely ignorant when it comes to crypto and bitcoin topic but I’m desperately trying to understand and learn how I can invest. Do you have any suggestions on where I can learn more about it from a source without bias or an agenda? Should I not invest anymore into bitcoin?
Gold is backed by industrial use and the cost of mining it.
Always great information but I will never trust crypto, too many rug pulls and that fact that I can creat a cryptocurrency myself kills the idea to me that bitcoin project its self from succeeding in the long run. It’s is not gold, at the very least gold is used as a a conductor in microchips
Regulations are already excessive in the UK so much so that it is repelling inward investment and making it difficult for ordinary people and business. The UK is sadly becoming an outlier globally and repelling fin tech start ups, crypto companies, and this new innovative sector of the financial services industry with cryptocurrencies.
Gotta say, anyone attempting to understate BTC’s extraordinary volatility and assert that it can serve as an effective Store of Value, is pushing out some major cope.
It IS self-evidently unsuitable as a Store of Value under current conditions. It WILL likely become an effective Store of Value in time, but it currently is NOT.
Any asset capable of shedding 3/4 of its value in the space of 12 months is not a credible Store of Value.
I find it remarkable that anyone can even attempt to make the argument of BTC as SoV when it’s still 50% down from its ATH. It’s still a relative risk-on, speculative asset.
Any business with this level of stock price volatility would be seen as a basket-case and would likely be the plaything of the PnD, WSB and degen types.
And I say all this as a BTC holder.
Sounds like you are new to the space and not familiar with VOLATILITY when it comes to evolution a new technology..it is Crazy!!...hang in there you will one day 😎
@@anm7018 I’ve been in since late 2020, so not so green. But thanks for trying to patronise me. 😉
Volatility ain’t rocket science.
You are actually making the point for me. Currently, Bitcoin ISN’T a good SoV, because it’s early and lacks the broad technological adoption and institutional and deep public investment that can stabilise prices and reduce volatility.
It will become more stable, and serve as a good SoV, but that’s still likely 1-3 more market cycles away, imo. Any asset that routinely sheds >50% of its price during bear market cycles cannot reasonably be described as a good SoV.
To describe it as such is premature and wishful thinking.
Similarly, it’s ridiculous to hear crypto insiders speculate that Bitcoin will achieve a mkt cap similar to gold, possibly, they speculate, by replacing gold as the premium SoV asset. They talk as though Gold is going to quietly become unattractive as an SoV. It isn’t. Bitcoin might join gold as a premium SoV (in a decade or two), but it certainly won’t be taking all of gold’s mkt cap.
@anm7018 My thoughts exactly. It's ok newbie hang in there, the bull run is coming.
@@ralphmedina3437 Not fretting. Not a newb either. But, you don’t need to be a crypto OG to see that BTC is a questionable SOV for anything shorter than a 4-year timeline.
I’m most concerned about a windfall profits tax on individual investors. Imagine your 1M BTC coin turning into 200 or 300k fiat if you cashed out.
Thanks buddy
Love the 'people will lose interest' argument. Its like saying that people lose interest in cars because the government has released a new bicycle.
Question: 1) how is it a store of value when it has no inherent value? Gold can be used in other ways for instance. Code is just code at the end of the day. 2) how is it the most secure system? Didn’t Silk Road change that? 3) immense energy use but it’s mostly renewable energy… wouldn’t that renewable energy be used elsewhere of it weren’t used for mining? 4) possibility of a bug? Isn’t it a regulatory problem that its creator is a secret? There is still no legal clarity for bitcoin, only individual opinions. How can a fiduciary justify gambling investor money on this? I’ll take your answers off air, thanks!
How does a money than you can take complete self custody of and have the ability to transact with whomever you want whenever you want, free from the preying eyes and control of any bank or government not have any value.
Do you think the dollar has value ? The Argentine peso ? They destroy all these currency’s every year with inflation. BTC has a fixed supply, it is fair money and cannot be cheated.
If you cannot understand why BTC is so important in this modern world then you are blind.
Exactly who can carry gold. Even if you bought gold...how you buy it is through blockchain technology soon all markets shopping banking all online all on blockchain and then all on AI BLOCKCHAIN! THE FUTURE IS IN THE NOW!! XRP will be used in every transaction plus be in ETF'S whether you want it or not. It is happening now as I write this! Wake the efff up people!
1) Store of value - Decentralisation and the belief that it can allow people to take control of the finance away from the governments and the banks. I think it is the idea behind it and the promise of a change that that creates the value. Gold can be used in manufacture but btc is used to fuel the idealism and hope for the better future, which may have a far greater value than gold and will always have value for as long as people will dream about the financial freedom and alternative world.
2) extremely difficult for any malicious actor to alter the blockchain, as it would require a majority of the network's computational power. Decentralized nature means there is no central point of failure. The network is maintained by a global collection of miners, making it resistant to censorship and control by any single entity. Bitcoin has the largest network of miners compared to other cryptocurrencies. This extensive and geographically diverse miner base contributes to the security of the network, as coordinating a majority attack (like a 51% attack) becomes increasingly difficult with more participants.Bitcoin has the highest hash rate of any cryptocurrency network, indicating a vast amount of computational power. A higher hash rate makes the network more secure against potential attacks.The design of Bitcoin economically disincentivizes attacks. Attacking the network would require immense resources, and the potential gains are usually outweighed by the costs, especially given the subsequent loss in the value of Bitcoin that would likely follow a successful attack.The Bitcoin community and its developers are constantly working to identify and fix vulnerabilities, improving the protocol over time.
How does fiat have value? That’s your answer
@@pmn506I don’t see how it’s different from fiat if it’s not backed by anything tangible. No need to get worked up or insult a reasonable question.
As far as I can tell, BTC is a technology stock. Not many people use it for payments. Everyone is speculating on increased value. It pays no dividend. Trades are reported like stocks on your tax return. Its value is measured in USD. If shtf, the first thing to go will be computers and the internet, or at least civilian access to the internet.
*Steve:* _"Its value is measured in USD."_
That's true in the US. Is it true anywhere else? You could say the same about gold.