I agree Saifedean. The semantics or subjective definitions do not matter as much as outcomes do. I was attempting to define or categorise Bitcoin in one of my recent videos. Your explanations are always helpful and sensible.
What you really need, in my opinion, is a financial advisor assigned by a brokerage firm to trade for you, manage your capital expertly, and provide you with weekly investment returns free of further costs.
Yeah, Evelyn Turner was my hope during the 'bear summer' last year. I made so many mistakes but also learned so much from it, and of course from Evelyn Turner. She is my number one source when it comes to crypto and TA.
Do you guys know her? We own a house and a car, and she transformed me.She is good. I must admit that her technique shocked me; her success story is widely known.
I just wonder, if you pay ur employees in bitcoin (as Saif does) then how is this done..? Are you paying them the same amount of bitcoin each month, or depending on bitcoin price at the end of each month??
Value resides where people see it. I see value in Bitcoin therefore it is valuable to me. But there is no law that says that value only exists in physical stuff. Bitcoin is everything to some and nothing to others. In the end everybody will buy Bitcoin at the price they deserve! Currency is anynthing you can use to exchange for something else. Like salt, seashells, cigars or gold. Even pokemon cards can be a currency. We don't need Bitcoin to be an official currency for it to work!
"Currency is anynthing you can use to exchange for something else." That is wrong, what you're describing is bartering and selling non fungible non divisible items is not currency. Pokemon cards are not currency because they're not divisible and they're not fungible.
@@nannnanaa "everything is subjective" wrong. Money has certain characteristics and without those characteristics it is not a currency. With bartering you can still have prices but that does not make it money or currency.
@@voluntarism335 that is your opinion. like Saif said very clearly in this video- it is better to judge by consequences (or "know them by their fruits") If we judge Money and Currency by observation of results then we can position ourselves to be successful in our endeavors. You are arguing with people online that your definition of words is better- what do you gain from that apart from masturbation of your ego?
I get the impression that the official definition of bitcoin as a commodity is also related to the continued ability to tax capital gains rather than accept that "number go up" is actually a consequence of the dollar "number go down" technology.
"[A]s it becomes better as a store of value it automatically becomes better and better as a medium of exchange." Isn't the converse also true? That becoming better as a medium of exchange causes the thing to become better as a store of value? Provided it doesn't inflate, of course. Or is the direction of causation mainly from store to medium?
Now this is something I say a lot of time as well, we are forgetting and letting price over take the core utility which is being a peer to peer e-cash system meaning to me its a electronic monetary system with Bitcoin being the currency of that monetary system and that currency also grows in value due to it’s capped supply so yes it’s all three in one but at CORE Bitcoin was meant to be a new monetary system for the people given our fiat system robs us of our wealth.
I see a lot of definitions of “currency” or “money” that try to define free market money out of existence. That’s not how definitions work, and I don’t have to agree with those stipulative definitions
Divisibility is important, but if the cost of transacting a single Satoshi ends up being 10 times the value of that Satoshi, the smallest unit effectively becomes 10 Satoshis. The higher the transaction cost, the weaker the effective divisibility. This a genuine problem that Saif doesn't really bother addressing here.
1. No centralized starting point 2. Lock protocol, it can't change 3 accountable, all users and developers on the chain need to be accountable through the digital signature. 4 proof of work, it needs to have economic competition Built-In. 5. It needs to have scalability that is unbounded to accommodate the world.
Bitcoin isn’t used for coffee for 2 other reasons. The transaction fees and the capital gains implication. Both are fixable with tax revisions and lightning.
Thanks for the educative video…….As new investor, it's important to remember that investing and trading require more than just technical analysis skills. Discipline and emotional maturity play a significant role in achieving success. It's wise to keep in mind the adage of "time in the market vs. timing the market," as this mentality can help you weather market volatility. With insights of Jinny Franz and my commitment to learning and growth, I've been increasing my earnings in just a few months. Keep up the good work..
Thank you for sharing your experience. She’s helped grow my reserve, despite inflation, from $87k to $246k as of today…..Her insights and daily siignals are worth following.
This answer to this question is so over complicated. Is bitcoin a commodity. Yes! It like fish or wood. It's something you can own that has value to others. Is it a medium of exchange? YES! Just like I might trade eggs for bananas or bitcoin for oil. The fact that BTC is a commodity that can easily be used as medium of exchange is what makes it special. What makes bitcoin more valuable than fish or bananas is it durability and portability. I can trade my bananas or bitcoin to anybody who needs that commodity. Bitcoin just has special properties that preserve it value (it doesn't rot) and it can easily be transferred easily. Right now dollars and euros are what we are exchanging for BTC. Soon it will oil and grain.
!!I am at the beginning of my "investment journey", planning to put 385K into dividend stocks so that I will be making up to 30% annually in dividend returns. any good recommendation on great performing stocks or Crypto will be appreciated
As a newbie investor, it’s essential for you to have a mentor to keep you accountable. Ruth Ann Tsaoknas is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Ruth Ann Tsakonas, for her expertise and exposure to different areas of the market.
I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $200k passively by just investing through an advisor, and I don't have to do much work. Inflation or no inflation, my finances remain secure. So I really don't blame people who panic.
Without a doubt! Ruth Ann Tsakonas is a trader who goes above and beyond. she has an exceptional skill for analysing market movements and spotting profitable opportunities. Her strategies are meticulously crafted on thorough research and years of practical experience.
how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach? and How can i reach her, if you don't mind me asking??
Saifedian is making the mistake of not pointing out that Bitcoin is not just code, it is code whose value is built on a very physical, and very expensive, network off hardware and electrical consumption necessary for the chain to maintain its integrity and its capacity for processing transactions. This is where the real value exists. That value is further increased by the network effect of new users joining the network and increasing its liquidity through its ability to create fungibility.
I'm new to trading, and I've lost a good sum trying out strategies I found in online tutorials. I would sincerely appreciate any recommendations you have.
Venturing into crypto as a newbie was very difficult due to lack of experience which resulted in loosing funds......... But Lucille Friedman, restored hope shes a good womanVenturing into crypto as a newbie was very difficult due to lack of experience which resulted in loosing funds......... But Lucille Friedman, restored hope shes a good woman
It is both and neither at the same time. It depends what Bitcoin you're talking about. You've got to understand how a digital commodity is created. Bitcoin BTC is definitely not electronic cash. It's not currency because it doesn't flow. Bsv satoshi's vision that is electronic cash because it has super small fees and high throughput.
Keep an eye on the other Bitcoin Massive Bitcoin Cash accumulations 🧐 (Top Richest Bitcoin Cash Address List) Foundry USA Pool (35% of the World BTC Hash) has started mining Bitcoin Cash 🤔
![Seungmin "그렇게, 천천히, 우리(As we are)" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/kAzmhLHePqU/mqdefault.jpg)
- Is it a store of value or a medium of exchange?
- Yes
These bots are the worst. Great video Saif! Thanks for all you do
I agree Saifedean. The semantics or subjective definitions do not matter as much as outcomes do. I was attempting to define or categorise Bitcoin in one of my recent videos. Your explanations are always helpful and sensible.
I'm a Bitcoin maxi that is trying my best to understand MSTR. I think it's healthy to explore opposing viewpoints.
What you really need, in my opinion, is a financial advisor assigned by a brokerage firm to trade for you, manage your capital expertly, and provide you with weekly investment returns free of further costs.
Evelyn Turner is my financial advisor. I would say in my opinion, she has an outstanding daily signal & optimal returns
Yeah, Evelyn Turner was my hope during the 'bear summer' last year. I made so many mistakes but also learned so much from it, and of course from Evelyn Turner. She is my number one source when it comes to crypto and TA.
Evelyn Turner has it all, and you never lose money when you follow her trades, so I'm not shocked to find nothing but positive about her signals.
Do you guys know her? We own a house and a car, and she transformed me.She is good. I must admit that her technique shocked me; her success story is widely known.
That ripple roast 😂🔥
Sirtoshi has a good explanation on this debate, you should invite him on to explain. 😊
Man he really went off on a tangerine with that tomato analogy 😂
i lold so hard at the xrp description
I just wonder, if you pay ur employees in bitcoin (as Saif does) then how is this done..?
Are you paying them the same amount of bitcoin each month, or depending on bitcoin price at the end of each month??
Value resides where people see it. I see value in Bitcoin therefore it is valuable to me.
But there is no law that says that value only exists in physical stuff. Bitcoin is everything to some and nothing to others. In the end everybody will buy Bitcoin at the price they deserve!
Currency is anynthing you can use to exchange for something else. Like salt, seashells, cigars or gold.
Even pokemon cards can be a currency. We don't need Bitcoin to be an official currency for it to work!
They are convertible with each other. That's why it makes no sense for people to pick and choose.
"Currency is anynthing you can use to exchange for something else." That is wrong, what you're describing is bartering and selling non fungible non divisible items is not currency. Pokemon cards are not currency because they're not divisible and they're not fungible.
@@voluntarism335 everything is subjective and governed by human action.
@@nannnanaa "everything is subjective" wrong. Money has certain characteristics and without those characteristics it is not a currency.
With bartering you can still have prices but that does not make it money or currency.
@@voluntarism335 that is your opinion. like Saif said very clearly in this video- it is better to judge by consequences (or "know them by their fruits")
If we judge Money and Currency by observation of results then we can position ourselves to be successful in our endeavors.
You are arguing with people online that your definition of words is better- what do you gain from that apart from masturbation of your ego?
I get the impression that the official definition of bitcoin as a commodity is also related to the continued ability to tax capital gains rather than accept that "number go up" is actually a consequence of the dollar "number go down" technology.
Bank notes are a security.
Bitcoin is a community.
Both can be money.
Currencies are generally anything that is liquid.
"[A]s it becomes better as a store of value it automatically becomes better and better as a medium of exchange." Isn't the converse also true? That becoming better as a medium of exchange causes the thing to become better as a store of value? Provided it doesn't inflate, of course. Or is the direction of causation mainly from store to medium?
Now this is something I say a lot of time as well, we are forgetting and letting price over take the core utility which is being a peer to peer e-cash system meaning to me its a electronic monetary system with Bitcoin being the currency of that monetary system and that currency also grows in value due to it’s capped supply so yes it’s all three in one but at CORE Bitcoin was meant to be a new monetary system for the people given our fiat system robs us of our wealth.
I see a lot of definitions of “currency” or “money” that try to define free market money out of existence. That’s not how definitions work, and I don’t have to agree with those stipulative definitions
Divisibility is important, but if the cost of transacting a single Satoshi ends up being 10 times the value of that Satoshi, the smallest unit effectively becomes 10 Satoshis. The higher the transaction cost, the weaker the effective divisibility. This a genuine problem that Saif doesn't really bother addressing here.
1. No centralized starting point 2. Lock protocol, it can't change 3 accountable, all users and developers on the chain need to be accountable through the digital signature. 4 proof of work, it needs to have economic competition Built-In. 5. It needs to have scalability that is unbounded to accommodate the world.
BTC is not a security, it's closer to a commodity but can be used as currency, like all commodities
Bitcoin isn’t used for coffee for 2 other reasons. The transaction fees and the capital gains implication. Both are fixable with tax revisions and lightning.
Thanks for the educative video…….As new investor, it's important to remember that investing and trading require more than just technical analysis skills. Discipline and emotional maturity play a significant role in achieving success. It's wise to keep in mind the adage of "time in the market vs. timing the market," as this mentality can help you weather market volatility. With insights of Jinny Franz and my commitment to learning and growth, I've been increasing my earnings in just a few months. Keep up the good work..
this is her official Telegrams..
@JinnyFranz.
Access to good information is what we investors needs to progress financially and generally in life. this is a good one and I appreciate…
Thank you for sharing your experience. She’s helped grow my reserve, despite inflation, from $87k to $246k as of today…..Her insights and daily siignals are worth following.
Thank you…. I have searched her up her telegram I think I am satisfied with her experience.
50:45 😂😂
The commodity title is a Trojan horse to get it accepted before it goes down the currency route
This answer to this question is so over complicated. Is bitcoin a commodity. Yes! It like fish or wood. It's something you can own that has value to others. Is it a medium of exchange? YES! Just like I might trade eggs for bananas or bitcoin for oil. The fact that BTC is a commodity that can easily be used as medium of exchange is what makes it special. What makes bitcoin more valuable than fish or bananas is it durability and portability. I can trade my bananas or bitcoin to anybody who needs that commodity. Bitcoin just has special properties that preserve it value (it doesn't rot) and it can easily be transferred easily. Right now dollars and euros are what we are exchanging for BTC. Soon it will oil and grain.
21:30 Bitcoin is bigger than the British Pound now 😂 at least in base money terms
!!I am at the beginning of my "investment journey", planning to put 385K into dividend stocks so that I will be making up to 30% annually in dividend returns. any good recommendation on great performing stocks or Crypto will be appreciated
As a newbie investor, it’s essential for you to have a mentor to keep you accountable.
Ruth Ann Tsaoknas is my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
I managed to grow a nest egg of around 120k to over a Million. I'm especially grateful to Adviser Ruth Ann Tsakonas, for her expertise and exposure to different areas of the market.
I don't really blame people who panic. Lack of
information can be a big hurdle. I've been
making more than $200k passively by just
investing through an advisor, and I don't have
to do much work. Inflation or no inflation, my
finances remain secure. So I really don't blame
people who panic.
Without a doubt! Ruth Ann Tsakonas is a trader who goes above and beyond. she has an exceptional skill for analysing market movements and spotting profitable opportunities. Her strategies are meticulously crafted on thorough research and years of practical experience.
how would you recommend i enter the crypto market? I am also looking at studying some traders and copying their strategy rather than investing myself and losing money emotionally. What's your take on this approach? and How can i reach her, if you don't mind me asking??
Saifedian is making the mistake of not pointing out that Bitcoin is not just code, it is code whose value is built on a very physical, and very expensive, network off hardware and electrical consumption necessary for the chain to maintain its integrity and its capacity for processing transactions. This is where the real value exists. That value is further increased by the network effect of new users joining the network and increasing its liquidity through its ability to create fungibility.
The argument you're making is basically Marx's Labor Theory of Value.
p2p currency according to the white paper and Satoshi
IS it a bird, an airplane ? how about being a weapon? the main weapon of the incoming cyberspace overwhelming the future world...
life quiz lmao
I'm new to trading, and I've lost a good sum trying out strategies I found in online tutorials. I would sincerely appreciate any recommendations you have.
As a beginner, it's essential for you to have a mentor to keep you accountable. I'm guided by a widely known crypto consultant
She is Expert Lucille Friedman
Venturing into crypto as a newbie was very difficult due to lack of experience which resulted in loosing funds......... But Lucille Friedman, restored hope shes a good womanVenturing into crypto as a newbie was very difficult due to lack of experience which resulted in loosing funds......... But Lucille Friedman, restored hope shes a good woman
Spot-on, I would always rate her signals as one of the best ever used 100% accurate.
Her name rings a bell; I've encountered it multiple times, usually associated with stories of her trading achievements. She deserves a lot of credit.
It is both and neither at the same time. It depends what Bitcoin you're talking about. You've got to understand how a digital commodity is created. Bitcoin BTC is definitely not electronic cash. It's not currency because it doesn't flow. Bsv satoshi's vision that is electronic cash because it has super small fees and high throughput.
Keep an eye on the other Bitcoin
Massive Bitcoin Cash accumulations 🧐 (Top Richest Bitcoin Cash Address List)
Foundry USA Pool (35% of the World BTC Hash) has started mining Bitcoin Cash 🤔
stack sats!
It's a currency not a commodity, commodities are physical objects in the real world.