People think that Bitcoin cannot be printed at will but it can. The exchanges are selling Bitcoin they don't have. FTX was selling Bitcoin it didn't have. This is the same way that gold devolved into paper, fractional reserve resevoirs of the commodity. Right? Tell me I'm wrong. You may say, "Well, that's not really Bitcoin" but, it doesn't matter. If you are thinking that the Bitcoin price must rise forever because its supply is short, you may be wrong due to the games that are being played on the exchanges. We would already be at a million per Bitcoin if stupid people would take their Bitcoin off the exchanges, at least 1 day out of the money in concert. This would force the exchanges to have all the Bitcoin they are actually selling.
Yeah anyone can be like here's a piece of paper that says you own some Bitcoin. That is an unavoidable type of scam. That has absolutely nothing to do with the Bitcoin network. Over time, the infrastructure around Bitcoin will improve and be more trusted. We see this with exchanges like River, who has public proof of reserves. What you describe is not a flaw with Bitcoin, but for the rails that people build for it.
The idea that money should have a fixed supply is juvenile. It's the 2nd level of understanding people reach when they start studying the money game. People thinking that way are ignoring the fact that the population grows and assets grow. If the money supply does not expand to match that, prices keep going down and people don't want to spend or invest because why? My money is growing in value, why should I spend it? Why should I invest in anything? So Bitcoin can be used as money as a last resort. If you spend your Bitcoin for Starbucks latte you are frankly an idiot. That Bitcoin you spent will be worth 10x in a year and 100x in ten years. Bitcoin is digital property is how you should think of it. It's an investment, not really the best thing to use as money. Anyone spending their Bitcoin probably has more of it than they could possible ever want, like 10,000 Bitcoin. Then sure, what do they care? They are multi-billionaires. If Bitcoin is truly precious, why would you sell it for a cup of coffee?
Bitcoin can be divided into 100 million units, money supply does not need to increase when it is divisible... Bitcoin is still in early adoption so yeah spending it now means it has a lot more room to run, but when it reaches mass adoption and is a 500 trillion dollar asset, it will only increase in value by a couple percent a year. Regardless, wouldn't you rather your saved money has room to increase in value as opposed to something thats GUARANTEED to lose value?
Rajit never knew about Welfare and social programs that paid people to sit at home eating cheetos before now? Not the sharpest knife in the drawer. A lot of people reach this 1st grade level of understanding, "Oh, money is printed so it devalues my money" Ding! The bell goes off. This was the state of understanding 100 years ago when Roosevelt took the gold. If this is shocking to them, what's REALLY going on behind the scenes would make these people have seizures.
two of my favorite RUclipsrs. Awesome.
Great Interview and Guest, very Informative!
Awesome! These are my 2 main men 👍
Excellent
2 of my favorite mstrites
Bell notification is still in tact
So funny ! A Mastercard publicity about gold…😂😂
👍
People think that Bitcoin cannot be printed at will but it can. The exchanges are selling Bitcoin they don't have. FTX was selling Bitcoin it didn't have. This is the same way that gold devolved into paper, fractional reserve resevoirs of the commodity. Right? Tell me I'm wrong. You may say, "Well, that's not really Bitcoin" but, it doesn't matter. If you are thinking that the Bitcoin price must rise forever because its supply is short, you may be wrong due to the games that are being played on the exchanges. We would already be at a million per Bitcoin if stupid people would take their Bitcoin off the exchanges, at least 1 day out of the money in concert. This would force the exchanges to have all the Bitcoin they are actually selling.
Yeah anyone can be like here's a piece of paper that says you own some Bitcoin. That is an unavoidable type of scam. That has absolutely nothing to do with the Bitcoin network. Over time, the infrastructure around Bitcoin will improve and be more trusted. We see this with exchanges like River, who has public proof of reserves. What you describe is not a flaw with Bitcoin, but for the rails that people build for it.
13:15 so close to turning socialist
Not at all
@bitcoinnotcrypto its not a bad thing 🤷🏽♂️ the system (capitalism) is broken because of fictitious capital 😉 welcome
Back marx
@bitcoinnotcrypto and wealth exctraction (exploitation) lol dude ur actually really close its beautiful
The idea that money should have a fixed supply is juvenile. It's the 2nd level of understanding people reach when they start studying the money game. People thinking that way are ignoring the fact that the population grows and assets grow. If the money supply does not expand to match that, prices keep going down and people don't want to spend or invest because why? My money is growing in value, why should I spend it? Why should I invest in anything? So Bitcoin can be used as money as a last resort. If you spend your Bitcoin for Starbucks latte you are frankly an idiot. That Bitcoin you spent will be worth 10x in a year and 100x in ten years. Bitcoin is digital property is how you should think of it. It's an investment, not really the best thing to use as money. Anyone spending their Bitcoin probably has more of it than they could possible ever want, like 10,000 Bitcoin. Then sure, what do they care? They are multi-billionaires. If Bitcoin is truly precious, why would you sell it for a cup of coffee?
Bitcoin can be divided into 100 million units, money supply does not need to increase when it is divisible...
Bitcoin is still in early adoption so yeah spending it now means it has a lot more room to run, but when it reaches mass adoption and is a 500 trillion dollar asset, it will only increase in value by a couple percent a year.
Regardless, wouldn't you rather your saved money has room to increase in value as opposed to something thats GUARANTEED to lose value?
Rajit never knew about Welfare and social programs that paid people to sit at home eating cheetos before now? Not the sharpest knife in the drawer. A lot of people reach this 1st grade level of understanding, "Oh, money is printed so it devalues my money" Ding! The bell goes off. This was the state of understanding 100 years ago when Roosevelt took the gold. If this is shocking to them, what's REALLY going on behind the scenes would make these people have seizures.
If rajat isn't the sharpest knife in the drawer then you're a spoon
@@WorkSaveBitcoin”there is no spoon” 😂