You're right, the best time to buy in the market is when there's fear. A huge part of my growth has also come during the bear market. This last year alone, I have scaled from 180k to over 354k.
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4:06 - Mate what the heck are you going on about? Your argument is basically saying that although bitcoin has a 21 million total cap, that doesn’t matter because there are other crypto currencies… but those other cryptocurrencies will never be the same as bitcoin, so you make absolutely no sense. Your argument is kind of like saying well it doesn’t matter that gold is rare because if the supply runs out, there is also silver we can use instead! But, those would be two completely separate things in reality so you’re making no sense, silver will never be capable of becoming gold. An ounce of silver will never magically become an ounce of gold, even if you paint it gold and pretend it’s gold. Just like no other cryptocurrency can just magically become equivalent to bitcoin. Also, just because the mining supply runs out of bitcoin once the final 21 millionth bitcoin is minted, doesn’t mean you will be unable to buy bitcoin from an exchange where there will always be other bitcoin holders selling theres. A bitcoin is made up of 100,000,000 satoshi’s. So if bitcoin ever gets to the point where tiny amounts of bitcoin like 0.0001 BTC can is worth hundreds of dollars for example, or actually 0.0001 Bitcoin is actually worth about 105$ right now. So instead they can just begin to refer to small amounts of bitcoin by Satoshi’s. 105$ would be about 100,000 satoshis right now. Quite simpley, the fact that bitcoin is deflationary in nature is actually its most important quality! So I have no clue why you seem to think it’s a bad thing. It’s literally the reason it continues to grow in price at such a rapid speed. Eventually 0.0000001 bitcoin / 1000 satoshis could for example be worth 100$, I don’t see how that’s an issue? Awful video overall mate, unsubscribing because it’s just so blatantly biased that you have tunnel vision to the max. Incapable of properly seeing the picture as a whole.
This is potentially one of the worst take's I've ever seen on Bitcoin. No mention of the national debt, currency debasement or Bitcoin's power law, jumps ignorantly between criticising bitcoin as a commodity before conflating it with currency. Short-term volatility is irrelevant to those interested in annualised average returns that rival M2 Global Liquidity expansion, this video may not have been as ridiculous if it was released whilst bitcoin was trading under $1000 - I can't imagine it's going to age very well.
Yeah, suspect he will pull this video within a year or two to remove the evidence of his "predictions". It was embarrassingly naive. Not sure if he understands it OR if in fact he actually does and recognizes the threat to fiat which ultimately it almost certainly is. He is essentially a big gov socialist type of "economic" commentator recommending state control of seemingly everything. I listen to him to understand when the other side is thinking. They are slowly wracking up the nerve and justification for balls out wealth confiscation at some point and I need to jump before then.
@maplin007 So, just the ones who speculated in Bitcoin will be rewarded for hard work? And the rest get to see their money undermined by this ponzi scheme. This is wrong.
Obvious this guy is clueless, but thats understandable, most people are. However these arguments were settled years ago. Dude need an update on how to argue against bitcoin in 2025
When it comes to investing there's an old saying , if you don't hold it you don't own it . Bitcoin is the epitome of disaster capitalism as you end up putting money into something that never exists or you can never touch . What's very telling for me is that many countries around the world especially BRICS countries are still investing heavily in gold and other traditional commodities .
What a load of tosh. If you want to leave your hard earned savings in government promises, then expect its purchasing power to continue to reduce, as per the original design.
It's a price rally which has lost any relationship with the underlying value of the asset. And without any institutions or assets behind it, Bitcoin has no underlying value. It's a Ponzi scheme.
People first have to understand that Bitcoin is an asset that has been pumped with fiat money. How can such an asset support the dollar if, conversely, it gets its value from the dollar? Take every dollar out of the cryptos and see what happens and where the value is.
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@@MrTarati Yep. I'm all for listening to people's genuine arguments and having my ideas tested, but you can tell when someone has dismissed something out of hand without taking the time to learn about it. I'd like to hand Richard a copy of Antony Lewis's book and have him come back to us with some real arguments.
He wasn't telling you not to invest in crypto. It's your personal choice to risk your investment. Rather, he was explaining why governments shouldn't be doing it with our money.
1:54...Every pound has to be worth less to cause deflation??? What are you smoking mate? If the prices of goods fall in pound terms (deflation)...then surely every pound is worth more?
I think the point is that if the economy is growing and you keep the money supply or growth of money constant, the only way you can you can have a bigger economy is for the pound to reduce in price and this leads to deflation. What he said was clear to me.
This is all so wrong. How about a chat on a debate channel professor? I’m also all in on Bitcoin and have high school education. I should be light work for a professor like yourself. You got so much wrong about Bitcoin.
@ sure. So, why is deflation bad? Cheaper good and services is a good thing! People still need to eat, have houses, and will go on holiday. Why is deflation, cheaper good and services bad?
@@DrWrapperband No, Crypto isn't a human. You can't say that criticizing it is against the man, when you're condemning a literal thing. Crypto is an updated ponzi scheme. Those who defend it are suckers or the con artists who are running the scam. (the last sentence was an ad hominem, against you. f'n idjit)
Risk = reward. I dismissed it as a pointless Internet money in the early days, I didn't take the time to read into it and understand it. I dont deserve to buy at that price. Second time around (20k high) I thought I missed the boat and so didn't look any further. I don't deserve to buy at that price or the lower prices later. Third time round I buy some (30/40k level) but still don't research it properly and lose money on alt coins. Finally I researched it and started buying properly. I buy and keep buying when it's down at 20-40k. This I deserve. I researched and risked my capital when it was lower than it is today.
It's all relative tho - this is my personal price, only can compare to my immediate peers with. My children will most likely not be able to buy anywhere near the current price level. Circumstances are different for everyone. I could have bought it for cheaper but didn't. I know people who say they hate it and will never buy it who haven't taken the time to look into it in the first place.
Yeah but this commie will try and create a economic justification in 10 years to either tax or confiscate it because they didn't get it or understand it.
He's wrong. Fixing the US currency to gold didn't create a recession in the 1930s. Europe was still trying to pay off WW1 which Britain came off the gold standard for. If we'd remained on the gold standard we'd have not spent so much on the pointless war and got ourselves into difficulty. The US came off the gold standard in the 70s after their economy couldn't cope paying for the Vietnam war. Also Richard is claiming that people won't spend money if the currency is fixed because they'll hope things will come down in price. Now that's some far out thinking. He's suggesting you'll live without goods because they might come down in the future. No you just buy goods and continue to buy as the price comes down.
Deferring spending during deflationary periods is real and is why deflation is arguably worse than inflation (an economy can still grow with inflation, it will struggle with deflation). See this from Japan’s Lost Decades Wikipedia article: “Under deflation, the value of cash increases as time passes. In such a situation, Japanese companies began to cut wages, research and development, and other investments, opting to hold onto cash instead. This tendency, coinciding with the acceleration of the aging population, gradually diminished the competitiveness of the economy and the potential growth rate of the country.”
@@reallymakesyouthink I noticed the YT algaerythmn [sic] is removing my replize [sic] so I'll try to expand.... You said, in so many words, the more you buy the more the price comes down. This is another facet of economies of scale. The more a manufacturer can make to sell, the cost to buy the product comes down - economies of scale. Buy the latest and greatest newest TV tech now or wait for the price to come down as production ramps up. Does crypto still apply in that manufacturing at scale context?
Sorry you cringed. I didn't use influencers. I bought in 2016 BTC for 900 bucks. Why? I read the white paper. I learned from studied programmers and those in the space how solid Bitcoin was and what it was meant to do. Now I am retired. No youtube videos. No influences. I jist read the Bitcoin standard and it made 100 percent complete sense. The dollar is debt backed by politicians. Bitcoin is decentralized backed by mathematical certainty. You can have the politicians. I will go with Bitcoin.
@@joeking1019Bitcoin was originally attacked by politicians. Now they embrace it because of game theory. If America ignores it other countries will adopt it. We will miss out. 15 plus years should tell you something.
Saying Bitcoin is the same as any other crypto and that there is a "limitless amout" told me everything i needed to hear. I think you need to do a bit more reading.
Inquisitivebaldman. But surely bitcoin is the same as any other crypto currency. it's only its popularity that singles it out. It has a household name, a leading crypto currency only because it has the greatest number of followers. Bitcoin does have a scarcity value but has competitors in the huge number of alternative cryptos you can support. Bitcoin is supported by what amounts to a huge speculative organisation and if that collapses so does Bitcoin. I regard it as fiat currency like paper money, supported by no more than the faith and hope of a huge mass of people.
No-one refuses to take money and they create that at a cost of four cents per hundred dollars, which we have to pay back full value, with our life's efforts and this money that we must have, this debt of other people, that loses value the more we hold it until it becomes worthless, is something we base our lives around, bank debt. Define scam?
Quite clearly another avenue for taking advantage of people at the benefit of a chosen few without consequence. This doesn't add any value or assistance to the economy or to society as a whole.
There are 1000s of newly created RUclips accounts who are all trying to push Bitcoin, these accounts need even more people to get into the Crypto to make their investment go up. Then comes the rug pull and the whoever is left in will be loose everything. But of course you already knew this @JacksonFairweather with your newly created RUclips account.
Gold is not gold either. I’m being serious. A great deal of gold traded out there is actually paper gold which are contracts to buy gold if ever the contract is redeemed for actual gold. This never happens so the contract has the affect of diluting demand for gold, because it has artificially increased the gold supply. The end affect is that gold has one supposed property that distinguishes it and that is that it’s a limited resource; except it isn’t.
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Surprise surprise another economist doesnt understand Bitcoin or money lol. It seems the more education you have the further you travel from first thinking principles. Every single argument you made extremely surface level. You will always be welcome to join reality when you are ready.
The more they're indoctrinated by Keynesian economics, the less they're able to see the wood for the trees. They understand finance, but not *money*. They lack the first principle understanding of why gold is valuable and the rest of their reasoning is therefore based on fallacy.
Surprise surprise another buttcoiner who thinks he knows more than economists because he watched couple youtube videos. and yet has nothing to say to disprove what the real knowledgeable person said. Of course dear buttcoiner... we surely have to listen to you and take your word with no facts presented... trust me bro
Do not fall, under any circumstances, for these claims. Instead, stack BTC. They have been saying this for the last 10+ years, and BTC has continued to prove them wrong.
I know of a person that owned 200 bitcoin sadly he passed away. And he never shared his wallet password. So now that's 200 bitcoin dormant. Seems a generational scam. The guys that get in last will suffer the most.
If you had 5 gold bars and they fell into the ocean than would they not be gone as well? A new law has now allowed banks to custodian Bitcoin. You don't have to lose it. You can learn to gift it in the event of death.
The last person who gets in will benefit the least but they will still benefit. This is the game theory though. Thats why its becoming a number 1 priority to get Bitcoin if you want you country to prosper.
The thing is, if this is a bubble just about to burst, this must be the most anticipated and covered bubble in history. I mean it's been for more than 2 years that I've been reading and watching this kinds of warnings. However it's true that mass media is not specially talking about this, and also nowadays information and media like RUclips and social networks provide such a quantity of content and such decentralized (as this vid for instance) that my first statement could be biased by that. The fact is, the correction will come, as naturally as leaves fall due to gravity. Despite all, I've been receiving warnings from a lot of different sources to the point that if the market collapses I won't be surprised. But boy I'm hell of invested in crypto now, .....I have managed to grow a nest egg of around $200k to a decent 7 figures in the space of a few months...Thanks to Kerrie Farrell insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings. Kudos to the journey ahead!.
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience.
Look... I get it. But gold is expensive to move, guard and generally manage. BTC can fulfil many of the criteria that are thought to make gold valuable. Cryptography is a great technology and is already incorporated to hide the banking system while also enabling it to work. BTC is more like the current banking system, but decentralised. After all, the purchasing power of the dollar has declined by over 90% in 40 years so how can you say that the dollar is not volatile/a poor store of value? BTC is in its infancy.
It is gangster Trump, if you count dictator as Government. Bitcoin is still a decentralised means of exchange that is difficult to stop or take from you. Good luck with another Bank collapse and your Fiat savings or getting your money if the Pension company goes bust.
Nothing would surprise me. We are already seeing UK business being flogged off on the cheap to American private equity and over the past 15 years, 40% of the UK stock exchange listing has gone.
This is the major issue. And we have no small or medium sized business3s to replace them. Either due to being bought out, or lack of investment in them, plus refs and tax’s
Yes. And it’s been baby boomer economists like this man who have driven this. They are critical of the new economy. Because it won’t continue to build their own decades worth of pension and investments. The new economy is international. It will require an international financial system. Like cryptocurrency. It will also need us to stop digging holes in the ground to maintain their wealth. Of course they deride the bitcoin phenomenon. They have the most to lose from it.
If we read the world through the lenses of advertising we would realise that the oligarchy is promoting gambling as a form of income for all the proletarians of the planet. The stock market being the richest casino on the planet. This is madness at its worst
they want you to be a buyer or a seller, while they will be they platform and take a cut for every transaction. Murphy does not really understand Bitcoin. It is a scam in the form of a common wallet, those who own the most pull the rug by selling when the price suits them, the rest funds their profits. It is great way of transferring profit from many to few. But ha either has no idea about it or just kept it for himself. His analyses keep getting more and more shallow as he has to push more an more content. Typical loss of value by a platform creator with time. Pretty much every of his videos over recent weeks and months had understatements, half-truths, signs of lacking understanding the issue he tried to address. In summary, mostly waste of time these days.
@@methonyHolmes-e8p Limited supply of coins, on a permissionless, open source, global network. Increasing adoption and acceptance. This is the value that it has. You can use it to pay for crime, just the same as you can use any currency, except that the Bitcoin ledger permanently records a trace of the transaction, which could be evidence against you if you get caught. This is quite different to, say, cash in a suitcase, which is quite difficult to trace.
You are doing what right-wingers do generally and demonizing a stereotyped group of people and dehumanizing them. You do not have be and most crypto investors are not, a "crypto bro". By contrast people like you tend to be reflexively negative about anything to do with the subject and exhibit extremely shallow and superficial analysis.
Fiat currencies are free for one man while the other must work for it. The federal reserve is not a federal building nor does it own reserves. It prints money to oblivion. Fiat is on a digital ledger as well.
Bail who out when? You buy a bitcoin, you own a bitcoin. There are no bailouts. Its dollar value could go to zero and you would still own it, so when does the bailout come in?
Each of the 21 million coins can be divided into 100 million units called Satoshis. Currently, 1000 satoshis costs around 85p. Another way of expressing it might be 0.1 Btc (10 million Satoshi) equals £8500 Bitcoin is certainly here to stay. Other “crypto” mostly will fade away but Bitcoin is unique by way of its decentralised nature. Nothing or nobody actually controls it. It’s the perfect companion to fiat as it offers a store of value that government issued money cannot. Richard, with respect, has decades of experience working against him. He is dead wrong about this, but I suppose only time will tell. Calling it a ponzi scheme is hilarious to me, and just shows a complete lack of understanding and humility. Once you take the time to study and understand just how Bitcoin works you can then perhaps critique constructively, otherwise it just sounds like an ideological objection.. Keynes vs Austrian perhaps?
@@northwestcoastI hear a lot of Bitcoin enthusiasts saying that their critical just don't understand bitcoin, but I rarely see them give as succinct an argument in favour as this fellow just did against.
It was part of the white paper to encourage adoption that the miner emissions would decrease and Bitcoin would increase in value, compared to Fiat. Like shares in a company, early adopters were supposed to be rewarded.
@@DrWrapperband early adopters have done very well. Late adopters have also done well. Cash can just be printed out of thin air, BTC cannot. It is a global decentralised currency. If you have some, no one can take it from you.
People seem to be missing that the increasing value of Bitcoin is due its fixed supply (and no, when a money is divisible you don't need more to sustain a growing economy), the fact that it is new and the we are in the early stages of adoption, and the fact that the value of fiat currency is crashing to the floor.
The problem with this argument is that’s it’s based on “Trust me I’m from the government.”, something that Prof Murphy so enthusiastically endorses. I’m not so keen, I remember why Thatcher/Reagan happened. The post war years were economically stifling, particularly for businesses. Globally governments have consistently debased fiat. Fiat is the very definition of money by declaration, and I’ve seen my fiat savings lose spending power since 2010. My Bitcoin holdings, (yes I’m one of those lunatics), have gone from a tiny fraction of my savings to a substantial percentage in USD terms. Dollars weaker Bitcoin stronger. As for a Ponzi scheme, perhaps, but then so is gold for the same reason. It’s worth what demand says it’s worth. The Ponzi scheme is now 15 years old, if the emperor has no clothes, wouldn’t it have been accepted as such by now? But it’s in ETFs, company balance sheets, as well as other institutions. Banks are lining up to custody it at some point it will be in the door. I suspect it is. PS: Nearly all monies today are ledger entries. Bitcoin won’t replace fiat, but it will settle down and it will be used for significant settlements between large entities as gold once was. But much more quickly and conveniently.
He really is talking a load of complete codswallop. Anyone looking to study accountancy, steer clear of Sheffield University. This really is the most myopic, innaccurate, ignorant description of bitcoin I have ever heard. Here are two gems that occur near the start before it becomes a laughable parody: At 1:16, he asserts that those that argue that the creation of new money is inflation are wrong. Duh. At 3:09 he asserts that bitcoiners say "If the number of bitcoins is fixed the price can't change". WTF? If he was my professor at college, I'd be pretty embarassed about the choice I'd made to apply for the course.
You’re wrong on so many levels it scares me. Please educate yourself on bitcoin before launching videos like this. For a man of your education this is worryingly bad.
Example of how to say nothing using many words! Educate us alll on his points that are wrong and then state the correction. Until you can do that, nobody is interested in what you have to say.
@@VincentOludayo Fundamentally, we do not need to increase the amount of money as the population increases. Only if the money we're using is actually debt (which is the case for fiat tokens that most people currently use). And by increasing the amount of money, you only make hard money more attractive as a store of value (see Gresham's Law and then Thier's Law)
@@minesadab Can you please elaborate why do we not need to increase amount of money with population growth? And why only if in case of debt? Also I thought debt and fiat money is implementation detail (you can have fiat money without debt)?
@@dp3455 When population grows, people will have less money on average. The prices will have to fall for people to maintain their purchasing power (as long as there is enough supply). That won't happen in practice, instead those who had money will get richer, the rest poorer. This is why bitcoin owners in particular wants it to be backed up by the governments. Another Ponzi scheme.
Bitcoin is volatile in the short term, i agree, but if you zoom out and look at it long term , it goes up. Also its easy for us in the West, where we have relatively stable currencies, to say that why anybody wants to buy such a volatile asset and keep hold of it. Go and tell this to people of Republic of Congo, Venezuela, Argentina, Sri Lanka, Nigeria, Burundi, Pakistan, Turkey, Myanmar and the list goes on) where local currencies are devaluing at 20%+ a year, then you start to realise the problem with fiat money. Also , Bitcoin as such doesn't go up . One Bitcoin is still one Bitcoin. But because its measured against weaker, devaluing currency (fiat) .
So, is gold also devaluing ? It seems one can buy much more gold with 2025 butcoin, than in 2021.. Bitcoin is indeed gaining value through pure speculation..
that is true only if you find people dumb enough to sell their gold for "air gold" . i wouldnt give my gold pounds to get bitcoin. and most people wouldnt @Avin9969
Its also easier to carry £1m of bitcoin in your pocket than £1m gold. Bitcoin can also be bought in fractions so you don't have to buy 1 Bitcoin. Property is the same, if you bought a nice property in Notting Hill London in the 60’s it was so cheap. Not today. I don't carry cash ever, I've been digital for a long time. This is just the start of the next phase. Past does not equal future.
If the Cloud ☁️ goes, Bitcoin is worth nothing. At least a debit card retains its fungible status. This was apparent from the moment that it raised its ugly head and the yokels came rushing in.
You don’t understand crypto deeply enough - and you don’t understand the history of the gold standard enough. The world underwent 4 centuries of growth under sound money, whether that be silver gold or other forms of sound money - albeit gold is the only one that prevailed
There's been way more economic growth in the world since the gold standard was abandoned. What was China's GDP when there was a gold standard? Also, the vast majority of the world's people lived in wretched poverty during the period you're talking about. The Gilded Age was one chapter of that story.
@ Not trying to pick a fight and I like your videos but just some statements seem based on some shaky assumptions. That nobody can see transactions because they’re encrypted?
The “we can’t actually understand because it’s encrypted” phrase didn’t seem right to me either. However, this is a small technical detail and doesn’t affect the thrust of the argument. For me, the remaining 98% of the video is right on the money.
Whoever thinks this market will continue upwards and beyond has their head in their rear. There is a correction coming since the Russell and the Dow are showing signs of weakness. Depending on the correction may determine if the market rallies once more in the summer for a final blow off top and slightly newer high. After that, watch out. Cycle Analysis predicts a hard drop in the late summer early Fall. Also, we are now 190% Market Cap to GDP ratio. That is very extreme......currently I've been engaged in active trading, which is generally safer, allowing investors to weather market volatility and also managed to grow a nest egg of around 2.3Bitcoin to a decent 24Bitcoin....I'm especially grateful to Lise Tesseir, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
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Someone asked me about their pension, they were one of my contractor staff and were retiring next week. Later that week the pension company went bankrupt, they were left holding nothing. Actual true story not made up like yours.
98 percent of fiat cash is digital on a database. I can not hold my apple stock. Value is the decision of markets. Fiat currencies are printed for free by one man and you must work for it. Bitcoin is not free to anyone and is finite. We are in a digital age. Blackrock will tokenize all assets. They will be digital. Study or miss out.
@@DrWrapperband Pensions are protected by the government via the Pension Protection Fund. If the pension company goes bust, it's likely they'll get 100% of their pension at the date of insolvency. There is ZERO protection if Bitcoin goes to zero and you're left holding the bag. It basically operates on the Greater Fool Theory.
Some points: 1. ALL currencies are intrinsically worthless, they are reliant upon mutual trust. 2. Prehistory type currencies (like copper coils/lengths) obtained some perceived value because of the work entailed in producing them (but their value disappeared once the technology changed.) 3. Gold and silver took effort to find and the former was inherently difficult to forge (especially after Archimedes). 4. Gold has little intrinsic value, but it is hard to obtain and open to subjective manipulation when used as jewellery. Its modern usage in electric circuitry conveys some value with current technology. 5. Gold is not fully deflationary while there remains some to be mined, but mining and then storing it involves a lot of energy. 6. Crypto currency in principle (which is inherently impossible to forge) can be designed to be inflationary and not energy intensive in its generation, although the first, Bitcoin, was designed to have a limited number and the rewards for "mining" have turned out to require energy also. IT also is possible to trace all transactions, any lack of transparency is due to the same machinations found in the rest of criminal society. 7. To me there is no difference between having a reserve of gold held by an elite and a reserve of a crypto currency held by an elite. To some extent the complaints appears to be about it being a different elite. 8. The ability for scam artists to invent "coins" and scam the public is no different from selling $1 hats for $49.99. The success of such ventures is down to the level of education of the public and the collusion of the media that are frightened to call it out (or are paid/bribed by the criminals).
No, fiat currency is used because you have to pay your taxes in it and the central government is the monopoly issuer. If you don't pay your taxes, the government uses force to take your assets or throws you in prison because they have the monopoly use of force. This process is necessary as a matter of state security so the state can provision itself by being able to buy anything it needs in IT'S money. Fiat currency is the only real money that has ever existed. Anthropological evidence goes back at least 5000 years. It was never a replacement for barter. The crypto bros literally do not know what money "is" or how it works and they seriously underestimate the power of and the need for the State.
There was a lot of misinformation in this video. The speaker makes valid points about Bitcoin's volatility, regulatory challenges, and market immaturity compared to gold. However, the claim that the Bitcoin ledger can't be viewed is false, as the blockchain is fully public and transparent. While Bitcoin lacks gold's intrinsic value and stability, its unique features-like decentralization, transparency, and scarcity-offer a different value proposition. The comparison between Bitcoin and gold oversimplifies their distinct roles and characteristics.
My brother in law is a recently retired senior executive in a very well known bank. He worked internationally in his capacity. His view on crypto is that he wouldn't touch any of it with a barge pole.
Because decentralised finance will topple banks and big banks are against it. Like it or not it's the future of money. Will do for money what the Internet did for information.
@@eob4185 Crypto relies on global network interactions, available localised computational systems and reliable power supplies to maintain it. Not only that the ability of everyone (inclusivity) to process those interactions with the access to maintain it all with the associated thirsty power consumption. Crypto has only been made possible because of our networked world and human-induced power generation, e.g. PV, nuclear fission and/or fusion - all encapsulated in the discovery of electromagnetism - to beyond what the natural world provides, e.g fire and water. Meanwhile, currently any old twot can stamp out a metal coin or write on a piece of paper with an IOU as its become.
We’re literally in the process of the financial landscape changing now, tokenisation of assets will be happening and banks will custody crypto assets More likely people in the know have been positioning themselves before the change happens whilst saying differently publicly
@@michaelrch As long as central banks keep printing, there will be a ready supply of money to flow into assets: stocks, precious metals, real estate, bitcoin.
@ so bitcoin is no longer a currency then? It's just a standalone asset with no utility value? Why is it a sensible store of value when its price is so insanely unstable? It is a Ponzi scheme. It's the Trump meme token on a vast scale.,
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It is so complicated nobody understands it. Like with sub prime and all the financial instruments to repackage bad debt risks. Mind you fractional reserve banking and FIAT money is a scam as well.
If I offered you one would you take it? Current market value is around £86,000. According to Richard though its worthless. Something does not add up here.
It hasn't enriched anyone until they walk away with something tangible. Until then it is simply a ledger entry. Funny how all the crypto people have thrown millions if not billions into elections in an effort to decontrol. It [crypto] will enrich a few and impoverish many.
It is all an illusion. Bitcoin is nothing more than a pump and dump scam It is high now, but when it's billionaire backers decide it has reached a peak, they will dump it. It will crash in value, they will make a huge fortune (from selling high). Then they will buy it back up at the bottom and repeat the whole thing again. The only people really making money on it are the Billionaires who can time the waves. And you talking about how btc has "made people money" is proof that even YOU acknowledge that it is not a currency, but rather an investment vehicle.
Always thought this was the emperors new clothes, it will effectively be a form of hiding wealth from governments and tax, but you can't actually use it to buy anything.
You can't actually buy anything with Gold either. I get Yield on collateralized loans with Bitcoin on Aave. Bitcoin is scaling to the lightning network. Plenty of shops now take BTC but why would you use it for currency? Bitcoin is deflationary so you use ice cube fiat currencies for purchasing things. Not Gold or Bitcoin which preserves value.
I guess your right, if you store it on a hard wallet, then yes the government cant steal it if there ever was a compulsory purchase. The people of greece experienced it first hand sadly.
Every time I read an analysis of Crypto I'm reminded of induction games where somebody knows what the rules are, doesn't tell anyone, and then everybody in the game has to guess what they are.
Sadly the first time I've disagreed with Richard. He has no solution to the loss of income that inflationary Fiat currency offers citizens. Bitcoin is that solution. For a socialist increasing the personal wealth of everyone (especially the poorest) is unequivocally the right thing to do. Those with the most minimal of knowledge of markets can ride the predictable four year cycle and make significant profits. This has to be the solution for poor people like me to become less desperate victims of poverty.
@@EvoraGT430 You could. Money is fungible and divisible, so you could do both, or even trade them against each other cyclically. Right now, the main indices look very expensive and bitcoin probably has more upside potential, but I could be wrong, so... do what you want
Fiat money is inflationary. If you see every failing of fiat in relationship to every strength of bitcoin then that is a fallacy. year on year loss leading fiat currencies happen because of governments devaluing Fiat every time they do QE. Bitcoin does better because despite it's volatility it is finite. It is simply a better source of asset value that makes Fiat look bad. Bitcoin doesn't drive inflation because it's only 3% of global assets so still tiny.
The ‘currency’ argument is so surpassed Richard. Bitcoin is a digital asset, in simple terms can be considered a, still minor, competitor to stocks, bonds, real estate, etc.. so when I hear about ‘Bitcoin is a Ponzi scheme’ then I look around, I see these other asset classes and I don’t seem to see any differences from Ponzis. The truth is always one: as a buyer, you will always want to sell for more than what you paid for. I believe the argument about Bitcoin has more to do with post-modern capitalism: if all of us start seeing 30/40/50% year returns on a digital asset what is the point of, for example, opening a bakery, or a plumbing company.. Food for thought
I hate Bitcoin but I don't agree with all of your points here. The supply is indeed finite-it can only be replaced by other cryptos insofar as gold can be replaced by other less rare metals like silver, iron, or zinc. Likewise, gold has lots of price volatility based largely on speculation. I don't think either should be the world's reserve currency, but you can't deny that gold and bitcoin do have lots of parallels.
I think that like anything, it's cyclical. It's not going to crash to zero because there will always be demand, if that's what you're asking. But if you mean crash as in a normal 50% or 80% crash then yeah that will happen and does periodically. That volatility is the price you pay for outsized returns. If you can't stomach it that's on you. Maybe you'll be a millionaire when you are 80 and spent your whole life working for someone else and paying someone else's mortgage. That's not for me.
@ But that will be for you though if it crashes permanently. Look at Trump coin for example, you think that's "Cyclical"? Why not invest in Trump coin? Having said that, I do hope things work out for you.
This is a truly terrible video. Nowhere does Murphy just mention that two people can trade crypto anywhere in the world without the intervention of a third party. That is absolutely huge for developing countries who mainly have very limited access to financial services. This could be a significant factor in ending global poverty. There are genuine issues with bitcoin and it may or may not be successful, but this video is just so ignorant and lazy it really puts me off this channel.
Until Elon bring's a trillion tons of the stuff mined from a distant asteroid. Then the bottom will fall out of the market as silver did when the Spanish over-mined South America.
The only problem with your theory re gold and money is that there is absolutely no control or restraint at the moment in printing money as is proved in USA where the debt (printing money through bonds) is climbing at a trillion dollars every few months
Why did Gold have value 500 years ago when its only use case was Jewellery and use in physical money? Ponder this question for a while and you'll begin to realise that your argument slowly falls apart.
@@frmcf RUclips is doing something useful to justify its use of power. Bitcoin is a dangerous Ponzi scheme that also uses a lot of power as an added downside.
I'm interested in getting started with investing, but I feel a bit overwhelmed and uncertain about where to begin. Could you offer any advice or recommend reliable contacts who could provide guidance?
Wow, you know her too? I struggled as a beginner and lost a significant amount of money until I discovered Mrs. Alana Ringberg on CNBC. She’s been managing my portfolio with excellent returns, and I genuinely appreciate her sincerity and authentic services.
Wow, Alana manages my investments, and all I have to do is sit back and make weekly withdrawals without needing any trading knowledge. She takes care of everything herself.
Initially, I was quite skeptical when I came across testimonials about Alana, but I decided to give her a chance. Since then, she has consistently provided excellent returns on my investments.
this is FUD, the whales will take bitcoin to the moon,just hold and never sell on red, i think thats how they speak, ive got my money in old motorbikes though
Thanks for keeping us updated! I feel sympathy and empathy for our country. low income people are suffering to survive, and I appreciate Craig Evans. You've helped my family with your advice. imagine investing $30,000 and receiving $95,460 after 28 days of trading
A few years back, it was really difficult for me, and I was living from paycheck to paycheck, working more than 45 hours a week. I also got into real estate, but I was not successful, but I just heard about Craig through comment, and I gave him a trial then boom. Today, I'm living comfortably and have lots of money saved up
Same here, I strongly agree that the Bitcoin ETFs approval will be greatly life opportunity for us, with my current portfolio of $102,500 from my investments with my personal financial advisor Jeff Wecker I totally agree with you😊
YES!!! That's exactly his name (Jeff Wecker) so many people have recommended highly about him and am just starting with him from Brisbane Australia...🇦🇺
He's my family's personal Broker and also a personal Broker to many family's in the United states, he is licensed and a FINRA AGENT in the United States.
I don't think many BTC maximalists are saying it is a form of currency that can be used to pay for things. They are saying buy it and over the long term it rises in value (the same as gold). And so far in BTC's history that is what has happened. My BTC has grown 175% in 4.5 years and has helped me pay my mortgage off early. I am happy to receive recommendations but I cannot see where I could have got those kind of returns on financial products in the UK.
I'm happy for you for paying off your debts with the profits you made but Bitcoin is a huge risk/reward proposition. It's nearing gambling territory. I wouldn't call it a financial product so much as a highly speculative asset. You got lucky my friend.
You'd have got far better returns if you bought basically Nvidia stocks 4.5 years ago, The returns on Bitcoin are nothing special, the opportunity to have it turn you into a millionaire has long passed, people keep buying it in 2025 thinking they too can be like the people who first got in when BTC was £1000 or less, but the opportunity for those sort of gains has long since passed. IF someone was asking me where to invest £1000 right now with the best chance of 10x'ing their money in 5 years my answer would not be bitcoin.
Bit coin may soar in value but it'll crash again too. It'll always be volatile because no one needs it. Its only purpose is for speculation. Stable assets hold a base value because someone needs them.
@@chrisborak2200 You might not think you need it Chris but millions do. Tell me, whats your options in keeping your life savings when having to flee a war torn country or dictatorship? What are you options when your country experiences hyperinflation? I'll tell you what those with Bitcoin do, ok? And tell me if you have something better? 1. Fleeing their country with family - Jump on a plane with a seedphrase in their heads, meaning their entire life savings are on a plane with them and nobody knows. Try doing that with cash/gold. 2. Your lifes work is burned yearly through hyperinflation - experienced in Argentina, Venezuela etc. Bitcoin saved them through its deflationary design. That design has outperformed every fiat currency on earth every single year for 15 years.
@chrisborak2200 it will be volatile but trend upwards. But I don't want to convince you. Intelligent people who don't own bitcoin are the reason it's not already 250k a coin. Thank you for your service, keeping btc cheap so I can march toward wholecoin status.
@@TerryOHanlon-s6m If you can open an account with a Bitcoin broker why not with Weston Union or a forex or commodities broker? I.e. you don't need to carry a bag of cash or gold when fleeing. In answer to your question, almost anything is a better store of value when the chips are down then bitcoin, look what happened to the Bitcoin price during Covid. The obvious hedge against hyper inflation is real estate, or really any physical, non perishable asset. If you are fleeing somewhere and need to stay liquid, then why not just buy a stable foreign currency or the currency of the place you are fleeing to - wired to yourself via WU?
@crapmalls LOL! That was the most boomer thing ever! HAHAHAHA! You think BTC disappears when the power goes out? LMFAO! OMG! You are too much. I love it when people have no idea what they are talking about make quips from 2011.
@crapmalls Wonder how the highest use of Bitcoin on earth is in central Africa where few have power, or internet, or computers, or smartphones, yet it is used far more often for day-to-day shopping than their native currency? Might want to look that up. Or not. You do you.
I have a German friend who claims to have made a "fortune" with crypto. She has all the time in the world to maintain the system in her interests, so its not surprise she is all over it. Then there's the example of the Welshman who threw away his hard drive which had an absolute fortunte stored on it in crypto. Poor chap (literally) pleading with the local council to be able to search the city-sized refuse tips in his futile search to recover it despite throwing it away years ago.
@djdawizz Winners and losers. Those with the most reliable access to an electricity supply and the most time on their hands the biggest winners. Else, I'm not sure how crypto helps when the food supply runs out and/or if you live in the Northern Hemispehere, where the ice over your head is 500 metres thick 6 months of the year. #AMOCcollapse2040 #climatechangeimpacts
I think it’s a case of ‘tell me you don’t understand bitcoin without telling me you don’t understand bitcoin’ ! And it’s bitcoin - singular and plural (like the word sheep). Must say though, it’s great to see how many well informed comments there are here - crypto really is coming of age !
@ The CPI is a lie and claims it is 2%. But the CPI picks industries that are getting more efficient via technology, thus their products keep getting cheaper. So the CPI isn't accurate. Homes are a stable store of value, and their price is increasing by 7% to 10% per year. That's the true inflation rate. That purchasing power of the dollar is being stolen from you and spent away by bankers, government, wars, foreign aid, and special interests. Some people are getting rich off this theft, and it's isn't you or I.
@ The population and CPI isn't growing by 7% to 10% a year, which is the true inflation rate. What is growing is Bitcoin. The best performing asset in the last 10 years with a 0% inflation rate and the only asset with absolute, verifiable, scarcity. Only 21M coins that ever will be. Bitcoin has a 60% to 80% CAGR. This guy is a "fiat economist". He supports the status quo and doesn't like disruptive technology that can undo all this corruption in the financial sector. Bitcoin can do this, and to him that's scary.
All you have to think about is what happened to most of the gold prospectors, it was disastrous as most died in poverty and painfully chasing a non existent dream...
So you're saying that I shouldn't migrate across the country to live in an unsanitary shack surrounded by desperate people with no clean water in order to mine bitcoins from the dirt? Got it!
there are still gold prospectors, they use mercury to extract it and die from mercury poisoning. there is energy cost to mine gold, on par with bitcoin or servers to run p0rn sites. the difference is that energy going into bitcoin does something good. it it financial system and currency. a financial system with perfect public ledger (all past transactions are immutable and visible, from when a bitcoin was created to how it changed hands and where is now). only owner of wallet that holds BTC can move BTC and no one can stop him. this is big problem for countries as they cannot control capital flow. make bad decisions and ppl will leave your failed economy
its a brand new asset class of 15 years, of course it's going to be volatile 🤦 I'm not saying bitcoin is definitely the answer either btw, but the arguments in this video are just so entry level
@@profd65Yes, I agree it's functioning as intended by a corrupt elite... But who exactly does ever-inflating fiat currency, backed by globalist bankers serve exactly?..
A new dawn in the free world, we should see alot of changes really soon, especially in the digital and financial markets.
Spot on. The market presents different opportunities to create passive Income, with the right skill and proper understanding you're good to go.
Facts 👏
You're right, the best time to buy in the market is when there's fear. A huge part of my growth has also come during the bear market. This last year alone, I have scaled from 180k to over 354k.
How were you able to make that much?
Seems like I'm not lucky enough.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications..
I Hit $32,590 today. Thank you for all the knowledge and nuggets you had thrown my way over the last week. i started with 5k in last week 2025... now i just hit $32,590
How did you manage to achieve that level of growth? I've been trying everything I can to improve my investments, I want to retire in a few years and I need a better diversification
Same here
waking up every 14th of each
month to 57,000 dollars it’s a blessing to I and my family… I can now retire knowing that I have a steady income❤️Big gratitude to Ms Evelyn Vera
Timing is crucial, and as Ms Evelyn Vera suggests, it's often wise to make purchases during market downturns, prioritize acquiring solid assets, and explore options that allow you to generate passive income while yu invest
After I raised up to 325k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸. Glory to God.shalom.
@@FinnBiss-p8t This Evelyn has got to get it together ❤
4:06 - Mate what the heck are you going on about? Your argument is basically saying that although bitcoin has a 21 million total cap, that doesn’t matter because there are other crypto currencies… but those other cryptocurrencies will never be the same as bitcoin, so you make absolutely no sense. Your argument is kind of like saying well it doesn’t matter that gold is rare because if the supply runs out, there is also silver we can use instead!
But, those would be two completely separate things in reality so you’re making no sense, silver will never be capable of becoming gold. An ounce of silver will never magically become an ounce of gold, even if you paint it gold and pretend it’s gold. Just like no other cryptocurrency can just magically become equivalent to bitcoin.
Also, just because the mining supply runs out of bitcoin once the final 21 millionth bitcoin is minted, doesn’t mean you will be unable to buy bitcoin from an exchange where there will always be other bitcoin holders selling theres.
A bitcoin is made up of 100,000,000 satoshi’s. So if bitcoin ever gets to the point where tiny amounts of bitcoin like 0.0001 BTC can is worth hundreds of dollars for example, or actually 0.0001 Bitcoin is actually worth about 105$ right now.
So instead they can just begin to refer to small amounts of bitcoin by Satoshi’s. 105$ would be about 100,000 satoshis right now. Quite simpley, the fact that bitcoin is deflationary in nature is actually its most important quality! So I have no clue why you seem to think it’s a bad thing. It’s literally the reason it continues to grow in price at such a rapid speed. Eventually 0.0000001 bitcoin / 1000 satoshis could for example be worth 100$, I don’t see how that’s an issue?
Awful video overall mate, unsubscribing because it’s just so blatantly biased that you have tunnel vision to the max. Incapable of properly seeing the picture as a whole.
This is potentially one of the worst take's I've ever seen on Bitcoin. No mention of the national debt, currency debasement or Bitcoin's power law, jumps ignorantly between criticising bitcoin as a commodity before conflating it with currency. Short-term volatility is irrelevant to those interested in annualised average returns that rival M2 Global Liquidity expansion, this video may not have been as ridiculous if it was released whilst bitcoin was trading under $1000 - I can't imagine it's going to age very well.
This video is beyond stupid. I thought this bloke was smart. Till now.
Yeah, suspect he will pull this video within a year or two to remove the evidence of his "predictions". It was embarrassingly naive. Not sure if he understands it OR if in fact he actually does and recognizes the threat to fiat which ultimately it almost certainly is. He is essentially a big gov socialist type of "economic" commentator recommending state control of seemingly everything. I listen to him to understand when the other side is thinking. They are slowly wracking up the nerve and justification for balls out wealth confiscation at some point and I need to jump before then.
@@silviafarfan2523if he’s so wildly wrong about Bitcoin what else doesn’t he understand?
We reward people who speculate in bitcoin and spit in the face of hard-working people who produce value. This is madness.
💯
Only in the short-term. They will eventually find out it's a scam.
What about the hard working people that invest in bitcoin? 😂
@maplin007 So, just the ones who speculated in Bitcoin will be rewarded for hard work? And the rest get to see their money undermined by this ponzi scheme. This is wrong.
@@martync7436 What do you mean "see their money undermined by" it?
Obvious this guy is clueless, but thats understandable, most people are. However these arguments were settled years ago. Dude need an update on how to argue against bitcoin in 2025
When it comes to investing there's an old saying , if you don't hold it you don't own it .
Bitcoin is the epitome of disaster capitalism as you end up putting money into something that never exists or you can never touch .
What's very telling for me is that many countries around the world especially BRICS countries are still investing heavily in gold and other traditional commodities .
you dont understand hat you are talking about
I own shares, ETF's and bonds. I can't physically hold any of them. They're all electronic.
@@neocitadeland you can't proofread
Explain why it isn't @@neocitadel
There's more likely to be tumbleweed
What a load of tosh. If you want to leave your hard earned savings in government promises, then expect its purchasing power to continue to reduce, as per the original design.
If you can't hold it, you don't own it.
Most of our savings are held in commercial bank created deposits and they are lost if the bank fails.
@@truthseeker5911my savings are held under the mattress. It's safer than the bank!
@@MacksCurley do you send cash through the mail to pay your bills?
@ I don't pay my bills with my savings, gold.
Do you know what a bubble is Richard ? It’s a bull market in which you don’t have a position.
It's a price rally which has lost any relationship with the underlying value of the asset.
And without any institutions or assets behind it, Bitcoin has no underlying value.
It's a Ponzi scheme.
People first have to understand that Bitcoin is an asset that has been pumped with fiat money. How can such an asset support the dollar if, conversely, it gets its value from the dollar? Take every dollar out of the cryptos and see what happens and where the value is.
This video will age like milk. So many wrong arguments I wouldn't know where to start
No valid arguments here.
Glory!!! After so much struggles I now own a new house with an influx of $360,500.00 every month God has kept to his words,my family is happy again everything is finally falling into place. God bless America 🇺🇸
thanks for sharing! I'm genuinely curious to know how you earn that much monthly. Please help others too ❤❤
I'm so happy for you dear, please can you elaborate more about this? I definitely believe you're God sent 🙏
I thank God for bringing Mildred Evelyn Rooney brokage service into my life. I'm happy for God's grace have found me through her ❤️😊
I know her! God has used her to save so many lives including mine, could remember when I started with her back in 2023
I know her too. If you are born and raised in NY you'd know her too. She's my family's Broker for 3yrs now and a very good one if you ask me
This was painful to watch.
Don't even look at bitcoin OK? Just stay in your lane and keep playing the game. It's better for you that way... 👀
@@MrTarati Yep. I'm all for listening to people's genuine arguments and having my ideas tested, but you can tell when someone has dismissed something out of hand without taking the time to learn about it. I'd like to hand Richard a copy of Antony Lewis's book and have him come back to us with some real arguments.
@@frmcfor Lyn Alden’s ‘Broken Money’.
He wasn't telling you not to invest in crypto. It's your personal choice to risk your investment. Rather, he was explaining why governments shouldn't be doing it with our money.
@@hughleemusic54 I haven't read her book. She speaks very well, though.
1:54...Every pound has to be worth less to cause deflation???
What are you smoking mate?
If the prices of goods fall in pound terms (deflation)...then surely every pound is worth more?
And the gold standard caused the Great Depression. Parents pay good money for their kids to be “educated” by this bitter old man.
this man is severely lacking reasoning and critical thinking skills if he really believes what he’s spouting here
This video is so whack and full of uneducated assumptions about bitcoin… it’s actually wild.
Agreed. The mistake is totally obvious, but I'm pretty sure he just misspoke. He needs to make a correction there and perhaps re-upload the content.
I think the point is that if the economy is growing and you keep the money supply or growth of money constant, the only way you can you can have a bigger economy is for the pound to reduce in price and this leads to deflation. What he said was clear to me.
This is all so wrong.
How about a chat on a debate channel professor?
I’m also all in on Bitcoin and have high school education. I should be light work for a professor like yourself. You got so much wrong about Bitcoin.
I'd love to see that too. So much sophistry in the world
Why not elaborate on here then?
@ I did a little on other comments. 👍
@ Fair enough,could you please indulge me and copy and paste here. Thanks
@ sure. So, why is deflation bad? Cheaper good and services is a good thing! People still need to eat, have houses, and will go on holiday. Why is deflation, cheaper good and services bad?
Crypto currency - AKA "Fools Gold"
Typical ad hominem attack, do you have gold or a house?
@@DrWrapperband No, Crypto isn't a human. You can't say that criticizing it is against the man, when you're condemning a literal thing. Crypto is an updated ponzi scheme. Those who defend it are suckers or the con artists who are running the scam. (the last sentence was an ad hominem, against you. f'n idjit)
@@DrWrapperband I bought BTC at $100 who's the fool now?
@@DrWrapperband 'You keep using that word, I do not think it means what you think it means'
@@DrWrapperbandlol found a triggered cryptard
Everyone gets the price they deserve 😏
Are you serious?
Risk = reward.
I dismissed it as a pointless Internet money in the early days, I didn't take the time to read into it and understand it. I dont deserve to buy at that price.
Second time around (20k high) I thought I missed the boat and so didn't look any further. I don't deserve to buy at that price or the lower prices later.
Third time round I buy some (30/40k level) but still don't research it properly and lose money on alt coins.
Finally I researched it and started buying properly. I buy and keep buying when it's down at 20-40k. This I deserve. I researched and risked my capital when it was lower than it is today.
It's all relative tho - this is my personal price, only can compare to my immediate peers with. My children will most likely not be able to buy anywhere near the current price level.
Circumstances are different for everyone. I could have bought it for cheaper but didn't. I know people who say they hate it and will never buy it who haven't taken the time to look into it in the first place.
@ So will your children be buying at "The price they deserve"?
Yeah but this commie will try and create a economic justification in 10 years to either tax or confiscate it because they didn't get it or understand it.
He's wrong. Fixing the US currency to gold didn't create a recession in the 1930s.
Europe was still trying to pay off WW1 which Britain came off the gold standard for. If we'd remained on the gold standard we'd have not spent so much on the pointless war and got ourselves into difficulty.
The US came off the gold standard in the 70s after their economy couldn't cope paying for the Vietnam war.
Also Richard is claiming that people won't spend money if the currency is fixed because they'll hope things will come down in price.
Now that's some far out thinking. He's suggesting you'll live without goods because they might come down in the future. No you just buy goods and continue to buy as the price comes down.
Well said.
@@reallymakesyouthink Is there such thing as economies of scale with crypto?
@NoMoreVoxPops what do you mean?
Deferring spending during deflationary periods is real and is why deflation is arguably worse than inflation (an economy can still grow with inflation, it will struggle with deflation).
See this from Japan’s Lost Decades Wikipedia article:
“Under deflation, the value of cash increases as time passes. In such a situation, Japanese companies began to cut wages, research and development, and other investments, opting to hold onto cash instead. This tendency, coinciding with the acceleration of the aging population, gradually diminished the competitiveness of the economy and the potential growth rate of the country.”
@@reallymakesyouthink I noticed the YT algaerythmn [sic] is removing my replize [sic] so I'll try to expand....
You said, in so many words, the more you buy the more the price comes down. This is another facet of economies of scale. The more a manufacturer can make to sell, the cost to buy the product comes down - economies of scale. Buy the latest and greatest newest TV tech now or wait for the price to come down as production ramps up.
Does crypto still apply in that manufacturing at scale context?
I always cringe when cypto enthusiast urge everyone to buy in as if its this amazing thing. And its so gross to see politicians joining in.
Avoid these salesman.
Politicians are gross
Sorry you cringed. I didn't use influencers. I bought in 2016 BTC for 900 bucks. Why? I read the white paper. I learned from studied programmers and those in the space how solid Bitcoin was and what it was meant to do. Now I am retired. No youtube videos. No influences. I jist read the Bitcoin standard and it made 100 percent complete sense. The dollar is debt backed by politicians. Bitcoin is decentralized backed by mathematical certainty. You can have the politicians. I will go with Bitcoin.
@@joeking1019Bitcoin was originally attacked by politicians. Now they embrace it because of game theory. If America ignores it other countries will adopt it. We will miss out. 15 plus years should tell you something.
@@braddater5834 I get it you want to make some money on your bet. But stop pretending its anything more than that.
Saying Bitcoin is the same as any other crypto and that there is a "limitless amout" told me everything i needed to hear.
I think you need to do a bit more reading.
I thought he said there was a limitless amount of crypto currencies that could be created, not a limitless amount of Bitcoins.
@@yufershe did.
He said Bitcoin was limited but cryptocurrency is unlimited.
Inquisitivebaldman. But surely bitcoin is the same as any other crypto currency. it's only its popularity that singles it out. It has a household name, a leading crypto currency only because it has the greatest number of followers.
Bitcoin does have a scarcity value but has competitors in the huge number of alternative cryptos you can support. Bitcoin is supported by what amounts to a huge speculative organisation and if that collapses so does Bitcoin.
I regard it as fiat currency like paper money, supported by no more than the faith and hope of a huge mass of people.
another bitcoin bro who has a hearing problem.
Your understanding is very poor I'm afraid...
Brilliant argument. I'm convinced.
This video is going to age terribly.
It's a scam with no value except to find a mug prepared to pay more for it.
No-one refuses to take money and they create that at a cost of four cents per hundred dollars, which we have to pay back full value, with our life's efforts and this money that we must have, this debt of other people, that loses value the more we hold it until it becomes worthless, is something we base our lives around, bank debt. Define scam?
incorrect. educate yourself more
Dude your talking in circles.
Quite clearly another avenue for taking advantage of people at the benefit of a chosen few without consequence. This doesn't add any value or assistance to the economy or to society as a whole.
Find me another currency that allows you to transport a billion dollars through countries with 24 words alone.
It's pump and dumps and rug pulls all the way down.
Bitcoin has been around since 2009 and was worth £250 in 2015, and is now worth £86,000. But you already knew all of that of course
@JacksonFairweather Tulip-mania.
@@EvoraGT430 Don't think the tulip bubble lasted 15 years, though
There are 1000s of newly created RUclips accounts who are all trying to push Bitcoin, these accounts need even more people to get into the Crypto to make their investment go up. Then comes the rug pull and the whoever is left in will be loose everything.
But of course you already knew this @JacksonFairweather with your newly created RUclips account.
@JacksonFairweather It says to me that it's a great big speculative bubble fueled by greater fool theory.
Gold is not gold either. I’m being serious. A great deal of gold traded out there is actually paper gold which are contracts to buy gold if ever the contract is redeemed for actual gold. This never happens so the contract has the affect of diluting demand for gold, because it has artificially increased the gold supply. The end affect is that gold has one supposed property that distinguishes it and that is that it’s a limited resource; except it isn’t.
I'm glad you made this video it reminds me of my transformation from a nobody to good home, $34k monthly and a good daughter full of love
My advice to everyone is that saving is great but investment is the key to be successful imagine investing $15,000 and received $472,700.
wow this awesome I'm 47 and have been looking for ways to be successful, please how??
Making touch with financial advisors like Elizabeth Regina Nelson who can assist you restructure your portfolio, would be a very creative option. Personal financial management will be crucial to navigating the next difficult times
Elizabeth Regina Nelson has really set the standard for others to follow, we love her here in the Uk 🇬🇧 as she has been really helpful and changed lots of life's.
She is really a good investment advisor. I was privileged to attend some of her seminars. That's how I started my own crypto investment
Surprise surprise another economist doesnt understand Bitcoin or money lol. It seems the more education you have the further you travel from first thinking principles.
Every single argument you made extremely surface level. You will always be welcome to join reality when you are ready.
The more they're indoctrinated by Keynesian economics, the less they're able to see the wood for the trees. They understand finance, but not *money*. They lack the first principle understanding of why gold is valuable and the rest of their reasoning is therefore based on fallacy.
What is there to "understand" about Bitcoin?
You can "understand" it in about 30 seconds.
Surprise surprise another buttcoiner who thinks he knows more than economists because he watched couple youtube videos. and yet has nothing to say to disprove what the real knowledgeable person said.
Of course dear buttcoiner... we surely have to listen to you and take your word with no facts presented... trust me bro
@@ibuprofen303 LOL
Let me guess? It's a slow, energy wasting Ponzi scheme for mentally-challenged?
Learn harder. Try 30 months, not 30 seconds.
@@ultranet Bitcoin is an intelligence test. HFSP
Do not fall, under any circumstances, for these claims. Instead, stack BTC. They have been saying this for the last 10+ years, and BTC has continued to prove them wrong.
painful statement
10 years is absolutely nothing and no demonstration of future returns. There are no patterns.
Wrong, Bitcoin is not Crypto.
WTF?
I know of a person that owned 200 bitcoin sadly he passed away. And he never shared his wallet password. So now that's 200 bitcoin dormant. Seems a generational scam. The guys that get in last will suffer the most.
That's not an argument against bitcoin. It's an argument for planning and responsible custody of any assets.
If you had 5 gold bars and they fell into the ocean than would they not be gone as well? A new law has now allowed banks to custodian Bitcoin. You don't have to lose it. You can learn to gift it in the event of death.
The last person who gets in will benefit the least but they will still benefit. This is the game theory though. Thats why its becoming a number 1 priority to get Bitcoin if you want you country to prosper.
@@will2461-j2nWe call this a pyramid scam
Are you going to be getting in last then ? 😂
The thing is, if this is a bubble just about to burst, this must be the most anticipated and covered bubble in history. I mean it's been for more than 2 years that I've been reading and watching this kinds of warnings. However it's true that mass media is not specially talking about this, and also nowadays information and media like RUclips and social networks provide such a quantity of content and such decentralized (as this vid for instance) that my first statement could be biased by that. The fact is, the correction will come, as naturally as leaves fall due to gravity. Despite all, I've been receiving warnings from a lot of different sources to the point that if the market collapses I won't be surprised. But boy I'm hell of invested in crypto now, .....I have managed to grow a nest egg of around $200k to a decent 7 figures in the space of a few months...Thanks to Kerrie Farrell insights, daily trade signals, and my dedication to learning, I've been increasing my daily earnings. Kudos to the journey ahead!.
As a beginner, it's essential for you to have a mentor to keep you accountable.
I appreciate the professionalism and dedication of the team behind Kerrie’s trade signal service..
The internet is filled with so many useful information about Kerrie Farrell crypto.
Investing with an expert is the best strategy for beginners and busy investors, as most failures and losses in investment usually happen when you invest without proper guidance. I'm speaking from experience.
Great skills and knowledge about the market. I enjoy full profits and easy withdrawal with no complains,/
I’ve learnt more about how to contradict yourself than bitcoin on this video
Look... I get it. But gold is expensive to move, guard and generally manage. BTC can fulfil many of the criteria that are thought to make gold valuable. Cryptography is a great technology and is already incorporated to hide the banking system while also enabling it to work. BTC is more like the current banking system, but decentralised. After all, the purchasing power of the dollar has declined by over 90% in 40 years so how can you say that the dollar is not volatile/a poor store of value? BTC is in its infancy.
Jesus wept....
Cash was never meant to be a store of value over decades.
@@ibuprofen303 what's wrong? you need an ibuprofen I think
its amazing, till something happens to the grid lmao
@@nighttrain1236 Okay, so then why are people encouraged to save?
It's funny how government involvement somehow is a good thing for the supposed decentralized currencies.
It is gangster Trump, if you count dictator as Government. Bitcoin is still a decentralised means of exchange that is difficult to stop or take from you. Good luck with another Bank collapse and your Fiat savings or getting your money if the Pension company goes bust.
Everyone is free to buy bitcoin or to run the software. That's the point of a permissionless network.
You can tell the last round of investors are very keen that new investors continue to be found to pay them off...
@@michaelrchyes, but can’t you say the same most stocks?
@ no, you can't. The stock market doesn't routinely take 65% dives!
Bro wants us to grow the wealth of the government instead of ourselves and the people. Where does it end?
Nothing would surprise me. We are already seeing UK business being flogged off on the cheap to American private equity and over the past 15 years, 40% of the UK stock exchange listing has gone.
This is the major issue. And we have no small or medium sized business3s to replace them. Either due to being bought out, or lack of investment in them, plus refs and tax’s
Yes. And it’s been baby boomer economists like this man who have driven this. They are critical of the new economy. Because it won’t continue to build their own decades worth of pension and investments. The new economy is international. It will require an international financial system. Like cryptocurrency. It will also need us to stop digging holes in the ground to maintain their wealth. Of course they deride the bitcoin phenomenon. They have the most to lose from it.
If we read the world through the lenses of advertising we would realise that the oligarchy is promoting gambling as a form of income for all the proletarians of the planet. The stock market being the richest casino on the planet. This is madness at its worst
they want you to be a buyer or a seller, while they will be they platform and take a cut for every transaction. Murphy does not really understand Bitcoin. It is a scam in the form of a common wallet, those who own the most pull the rug by selling when the price suits them, the rest funds their profits. It is great way of transferring profit from many to few. But ha either has no idea about it or just kept it for himself. His analyses keep getting more and more shallow as he has to push more an more content. Typical loss of value by a platform creator with time. Pretty much every of his videos over recent weeks and months had understatements, half-truths, signs of lacking understanding the issue he tried to address. In summary, mostly waste of time these days.
"The Emperor's New Clothes" ... bitcoins ... kleptoed into your non-existant pockets
Except Bitcoin is open source and it is clothes for the common man whilst the Emporer's fiat gradually declines with his fat cat inflation.
What value does Bitcoin have other than to commit crime anonymously?
@@methonyHolmes-e8p Limited supply of coins, on a permissionless, open source, global network. Increasing adoption and acceptance. This is the value that it has. You can use it to pay for crime, just the same as you can use any currency, except that the Bitcoin ledger permanently records a trace of the transaction, which could be evidence against you if you get caught. This is quite different to, say, cash in a suitcase, which is quite difficult to trace.
Cryptobros constantly lie. They have the incentives to do so.
Yeah. they want you to buy.
Typical strawman ad-hominem attack. Politicians and Bankers with their Fiat currency inflation, on the other hand, never lie?
You are doing what right-wingers do generally and demonizing a stereotyped group of people and dehumanizing them. You do not have be and most crypto investors are not, a "crypto bro". By contrast people like you tend to be reflexively negative about anything to do with the subject and exhibit extremely shallow and superficial analysis.
Do your own research, you'll be able to pick a part the lies
i think cryptobros just drank less paint than boomers. lead poisoning (leaded fuel, lead piping) is bad and all your paint in house was toxic.
Hope the taxpayer doesn’t have to bail them out.
They won't; no government (other than Venezuala, which is a total shambles) will touch such rubbish.
Oh don't worry Trump is already working on deregulating the Banks
That's the plan. Strategic reserve will be funded by taxpayers.
Fiat currencies are free for one man while the other must work for it. The federal reserve is not a federal building nor does it own reserves. It prints money to oblivion. Fiat is on a digital ledger as well.
Bail who out when? You buy a bitcoin, you own a bitcoin. There are no bailouts. Its dollar value could go to zero and you would still own it, so when does the bailout come in?
Fancy not wanting to invest and be part of the biggest, strongest, fastest, most secure monetary network known to man.
It's not Bitcoin. The system is the 'Blockchain'. Bitcoin was a by-product of the system.
SEVENTRANSACTIONSPERSECOND
There may only be 21 million bitcoins but each coin can be subdivided almost indefinitely, apparently.
Each of the 21 million coins can be divided into 100 million units called Satoshis. Currently, 1000 satoshis costs around 85p.
Another way of expressing it might be 0.1 Btc (10 million Satoshi) equals £8500
Bitcoin is certainly here to stay. Other “crypto” mostly will fade away but Bitcoin is unique by way of its decentralised nature. Nothing or nobody actually controls it. It’s the perfect companion to fiat as it offers a store of value that government issued money cannot.
Richard, with respect, has decades of experience working against him. He is dead wrong about this, but I suppose only time will tell.
Calling it a ponzi scheme is hilarious to me, and just shows a complete lack of understanding and humility. Once you take the time to study and understand just how Bitcoin works you can then perhaps critique constructively, otherwise it just sounds like an ideological objection.. Keynes vs Austrian perhaps?
@@northwestcoastI hear a lot of Bitcoin enthusiasts saying that their critical just don't understand bitcoin, but I rarely see them give as succinct an argument in favour as this fellow just did against.
@@northwestcoast who cares if there are 2 or 21 million bitcoins if it can be subdivided.
@@jamesgeorge891521 million is the limited supply.
@@northwestcoast Smoke and mirrors; you cannot actually USE Bitcoin to buy things, so it's not money.
Never heard a Bitcoin enthusiast say 'If the number of Bitcoin is fixed the price can't change'
It was part of the white paper to encourage adoption that the miner emissions would decrease and Bitcoin would increase in value, compared to Fiat. Like shares in a company, early adopters were supposed to be rewarded.
@@DrWrapperband early adopters have done very well. Late adopters have also done well. Cash can just be printed out of thin air, BTC cannot. It is a global decentralised currency. If you have some, no one can take it from you.
People seem to be missing that the increasing value of Bitcoin is due its fixed supply (and no, when a money is divisible you don't need more to sustain a growing economy), the fact that it is new and the we are in the early stages of adoption, and the fact that the value of fiat currency is crashing to the floor.
The problem with this argument is that’s it’s based on “Trust me I’m from the government.”, something that Prof Murphy so enthusiastically endorses. I’m not so keen, I remember why Thatcher/Reagan happened. The post war years were economically stifling, particularly for businesses. Globally governments have consistently debased fiat. Fiat is the very definition of money by declaration, and I’ve seen my fiat savings lose spending power since 2010. My Bitcoin holdings, (yes I’m one of those lunatics), have gone from a tiny fraction of my savings to a substantial percentage in USD terms. Dollars weaker Bitcoin stronger. As for a Ponzi scheme, perhaps, but then so is gold for the same reason. It’s worth what demand says it’s worth. The Ponzi scheme is now 15 years old, if the emperor has no clothes, wouldn’t it have been accepted as such by now? But it’s in ETFs, company balance sheets, as well as other institutions. Banks are lining up to custody it at some point it will be in the door. I suspect it is. PS: Nearly all monies today are ledger entries. Bitcoin won’t replace fiat, but it will settle down and it will be used for significant settlements between large entities as gold once was. But much more quickly and conveniently.
He really is talking a load of complete codswallop. Anyone looking to study accountancy, steer clear of Sheffield University.
This really is the most myopic, innaccurate, ignorant description of bitcoin I have ever heard.
Here are two gems that occur near the start before it becomes a laughable parody:
At 1:16, he asserts that those that argue that the creation of new money is inflation are wrong. Duh.
At 3:09 he asserts that bitcoiners say "If the number of bitcoins is fixed the price can't change". WTF?
If he was my professor at college, I'd be pretty embarassed about the choice I'd made to apply for the course.
You’re wrong on so many levels it scares me. Please educate yourself on bitcoin before launching videos like this. For a man of your education this is worryingly bad.
Example of how to say nothing using many words!
Educate us alll on his points that are wrong and then state the correction. Until you can do that, nobody is interested in what you have to say.
@@VincentOludayo Fundamentally, we do not need to increase the amount of money as the population increases. Only if the money we're using is actually debt (which is the case for fiat tokens that most people currently use). And by increasing the amount of money, you only make hard money more attractive as a store of value (see Gresham's Law and then Thier's Law)
@@minesadab Can you please elaborate why do we not need to increase amount of money with population growth? And why only if in case of debt? Also I thought debt and fiat money is implementation detail (you can have fiat money without debt)?
Clearly a professor of Keynisian economics. That didn't studied Bitcoin for more then 5 minutes.
@@dp3455 When population grows, people will have less money on average. The prices will have to fall for people to maintain their purchasing power (as long as there is enough supply). That won't happen in practice, instead those who had money will get richer, the rest poorer. This is why bitcoin owners in particular wants it to be backed up by the governments. Another Ponzi scheme.
Bitcoin may well be a racket but in no way does it make the fiat racket any less of a playing field for the world's vilest racketeers.
At least there are some safe guards in place with fiat. Crypto there is nothing.
@@SteveGillham 2008?
@@indricotherium4802 that was for another RUclips comment who has now deleted their post after being called out for pushing Bitcoin
Bitcoin is volatile in the short term, i agree, but if you zoom out and look at it long term , it goes up. Also its easy for us in the West, where we have relatively stable currencies, to say that why anybody wants to buy such a volatile asset and keep hold of it. Go and tell this to people of Republic of Congo, Venezuela, Argentina, Sri Lanka, Nigeria, Burundi, Pakistan, Turkey, Myanmar and the list goes on) where local currencies are devaluing at 20%+ a year, then you start to realise the problem with fiat money. Also , Bitcoin as such doesn't go up . One Bitcoin is still one Bitcoin. But because its measured against weaker, devaluing currency (fiat) .
So, is gold also devaluing ? It seems one can buy much more gold with 2025 butcoin, than in 2021.. Bitcoin is indeed gaining value through pure speculation..
Adoption.
that is true only if you find people dumb enough to sell their gold for "air gold" .
i wouldnt give my gold pounds to get bitcoin.
and most people wouldnt @Avin9969
Its also easier to carry £1m of bitcoin in your pocket than £1m gold. Bitcoin can also be bought in fractions so you don't have to buy 1 Bitcoin. Property is the same, if you bought a nice property in Notting Hill London in the 60’s it was so cheap. Not today. I don't carry cash ever, I've been digital for a long time. This is just the start of the next phase. Past does not equal future.
If the Cloud ☁️ goes, Bitcoin is worth nothing. At least a debit card retains its fungible status. This was apparent from the moment that it raised its ugly head and the yokels came rushing in.
You don’t understand crypto deeply enough - and you don’t understand the history of the gold standard enough. The world underwent 4 centuries of growth under sound money, whether that be silver gold or other forms of sound money - albeit gold is the only one that prevailed
There's been way more economic growth in the world since the gold standard was abandoned. What was China's GDP when there was a gold standard? Also, the vast majority of the world's people lived in wretched poverty during the period you're talking about. The Gilded Age was one chapter of that story.
I don’t think you understand blockchain
He doesn’t understand markets either.
I think you will find I do. I also know it can be forked and within a few years will be completely breakable.
@ Not trying to pick a fight and I like your videos but just some statements seem based on some shaky assumptions. That nobody can see transactions because they’re encrypted?
Yeah this definitely felt like a bit of a limited hangout 😂
The “we can’t actually understand because it’s encrypted” phrase didn’t seem right to me either. However, this is a small technical detail and doesn’t affect the thrust of the argument. For me, the remaining 98% of the video is right on the money.
China is accumulating gold, while America is speculating on Bitcoin.. nuff said.
What is your point? The USA has gold reserves and China has plenty of Bitcoin....
China outlawed crypto. The Chinese understand money, they're not falling for this nonsense.
@@DrWrapperbandno it doesn't. Show me the last gold audit.
America has 8,133.5 tons of gold and china has 2,264.3
China is also accumulating gold, they are simply doing it on the quiet as any forward thinking country would do.
Whoever thinks this market will continue upwards and beyond has their head in their rear. There is a correction coming since the Russell and the Dow are showing signs of weakness. Depending on the correction may determine if the market rallies once more in the summer for a final blow off top and slightly newer high. After that, watch out. Cycle Analysis predicts a hard drop in the late summer early Fall. Also, we are now 190% Market Cap to GDP ratio. That is very extreme......currently I've been engaged in active trading, which is generally safer, allowing investors to weather market volatility and also managed to grow a nest egg of around 2.3Bitcoin to a decent 24Bitcoin....I'm especially grateful to Lise Tesseir, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
She's mostly interacts on Telegrams, using the user-name...
@lisetesseir
Yes, truly, investing in the market, even if it's just the S&P 500, can keep up with inflation, because the growth rate of stocks will always exceed the inflation rate. But if you don't have the courage, you could just invest with a financial advisor, which even has greater return on investments, while securing your investment against losses.
The internet is filled with so many useful information about lise Tesseir Crypto..
Her expertise is truly commendable. She has this knack for making complex crypto concepts easy to understand.
Old man doesn’t understand computer science …… blah blah blah
young man sticks his finger in his ears when faced with facts because it shatters his own world view .... blah blah blah.
He's got it wrong with gold too
@@schumiiskingthat’s very generous of you…… I’m actually 42 😅
@@schumiiskingI’d love to hear your opinion because my ears are wide open……. Being open minded is probably why i got into btc in the first place 😅
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I’m curious, do you have a professional broker who helps you with your investments? If so, I’d love to learn more about how you work with them.
Can't share much here, I take guidance from ‘Sophia E Haney’ a renowned figure in her industry with over two decades of work experience. I'd suggest you research her further on the web.
Use her name to quickly conduct an internet search
SHE’S MOSTLY ON TELEGRAMS APPS WITH HER NAME
Someone asked me about bitcoin I said some got rich but when the story ends holding it means you have nothing
Someone asked me about their pension, they were one of my contractor staff and were retiring next week. Later that week the pension company went bankrupt, they were left holding nothing. Actual true story not made up like yours.
98 percent of fiat cash is digital on a database. I can not hold my apple stock. Value is the decision of markets. Fiat currencies are printed for free by one man and you must work for it. Bitcoin is not free to anyone and is finite. We are in a digital age. Blackrock will tokenize all assets. They will be digital. Study or miss out.
@DrWrapperband my story is not made up you muppet
@@DrWrapperband Pensions are protected by the government via the Pension Protection Fund. If the pension company goes bust, it's likely they'll get 100% of their pension at the date of insolvency. There is ZERO protection if Bitcoin goes to zero and you're left holding the bag. It basically operates on the Greater Fool Theory.
Some got rich, but those that are still holding got richer, surely?
Some points:
1. ALL currencies are intrinsically worthless, they are reliant upon mutual trust.
2. Prehistory type currencies (like copper coils/lengths) obtained some perceived value because of the work entailed in producing them (but their value disappeared once the technology changed.)
3. Gold and silver took effort to find and the former was inherently difficult to forge (especially after Archimedes).
4. Gold has little intrinsic value, but it is hard to obtain and open to subjective manipulation when used as jewellery. Its modern usage in electric circuitry conveys some value with current technology.
5. Gold is not fully deflationary while there remains some to be mined, but mining and then storing it involves a lot of energy.
6. Crypto currency in principle (which is inherently impossible to forge) can be designed to be inflationary and not energy intensive in its generation, although the first, Bitcoin, was designed to have a limited number and the rewards for "mining" have turned out to require energy also. IT also is possible to trace all transactions, any lack of transparency is due to the same machinations found in the rest of criminal society.
7. To me there is no difference between having a reserve of gold held by an elite and a reserve of a crypto currency held by an elite. To some extent the complaints appears to be about it being a different elite.
8. The ability for scam artists to invent "coins" and scam the public is no different from selling $1 hats for $49.99. The success of such ventures is down to the level of education of the public and the collusion of the media that are frightened to call it out (or are paid/bribed by the criminals).
No, fiat currency is used because you have to pay your taxes in it and the central government is the monopoly issuer. If you don't pay your taxes, the government uses force to take your assets or throws you in prison because they have the monopoly use of force. This process is necessary as a matter of state security so the state can provision itself by being able to buy anything it needs in IT'S money. Fiat currency is the only real money that has ever existed. Anthropological evidence goes back at least 5000 years. It was never a replacement for barter. The crypto bros literally do not know what money "is" or how it works and they seriously underestimate the power of and the need for the State.
There was a lot of misinformation in this video.
The speaker makes valid points about Bitcoin's volatility, regulatory challenges, and market immaturity compared to gold. However, the claim that the Bitcoin ledger can't be viewed is false, as the blockchain is fully public and transparent. While Bitcoin lacks gold's intrinsic value and stability, its unique features-like decentralization, transparency, and scarcity-offer a different value proposition. The comparison between Bitcoin and gold oversimplifies their distinct roles and characteristics.
My brother in law is a recently retired senior executive in a very well known bank. He worked internationally in his capacity. His view on crypto is that he wouldn't touch any of it with a barge pole.
Who better to know than the people who work in thr industry itself. ☝️
Because decentralised finance will topple banks and big banks are against it. Like it or not it's the future of money. Will do for money what the Internet did for information.
@@eob4185
Crypto relies on global network interactions, available localised computational systems and reliable power supplies to maintain it. Not only that the ability of everyone (inclusivity) to process those interactions with the access to maintain it all with the associated thirsty power consumption.
Crypto has only been made possible because of our networked world and human-induced power generation, e.g. PV, nuclear fission and/or fusion - all encapsulated in the discovery of electromagnetism - to beyond what the natural world provides, e.g fire and water.
Meanwhile, currently any old twot can stamp out a metal coin or write on a piece of paper with an IOU as its become.
We’re literally in the process of the financial landscape changing now, tokenisation of assets will be happening and banks will custody crypto assets
More likely people in the know have been positioning themselves before the change happens whilst saying differently publicly
@@eob4185 agree, decentralised finance is superior to traditional finance and traditional finance will have to change to keep up or become obsolete
This will not age well.
There are none so blind as those who will not see
What happens when new investors cannot be found to pay out the old ones?
@@michaelrch As long as central banks keep printing, there will be a ready supply of money to flow into assets: stocks, precious metals, real estate, bitcoin.
@ so bitcoin is no longer a currency then? It's just a standalone asset with no utility value?
Why is it a sensible store of value when its price is so insanely unstable?
It is a Ponzi scheme.
It's the Trump meme token on a vast scale.,
Sounds awfully cult-like...
*It is the best Bitcoin podcast in United Kingdom* 🇬🇧
Yeah, that's what I think too,📉
I was homeless, got addicted to drug's went to prison came out and Heaven came through for me in my finances too making $12,550 in just 1month in forex, rented my first apartment last week ,God has absolutely done more than enough 💯
I work at a restaurant here in Houstons Texas. Things have been really difficult as I'm a single mom parent and trying my best to pay bills and take care of my daughters.
What a testimony!!! 🙏I'm genuinely curious to know how you earn that much monthly
I started pretty low investing in forex though with $1,2500 thereabouts. The returns came massive. My son Joe is in school now doing well, telling me of new friends he's meeting in school. (Maria Andersen ) is a Blessing to my life
It is so complicated nobody understands it. Like with sub prime and all the financial instruments to repackage bad debt risks. Mind you fractional reserve banking and FIAT money is a scam as well.
At least private banks can’t create it with no real limit
Each bank could create their own crypto, each with a limited supply. It is only the current popularity of it that gives it value.
Bitcoin is the new fool's gold.
If I offered you one would you take it? Current market value is around £86,000. According to Richard though its worthless. Something does not add up here.
@JacksonFairweather For 5 minutes. Then try to buy something with them.
@JacksonFairweather
@JacksonFairweatherThe fact that it used solely for speculation and we need a regulated currency for trade?
@JacksonFairweatherof course, you would take it but immediately sell it for a fiat currency.
Unsubscribed.
Hope his kids don’t think like him.
It's funny, our Riksbank commander in chief was asked whether they'd build up a bitcoin reserve and his answer was "absolutely not".
btc is worth over 100,000 usd. no matter what you say, it has made people money
It hasn't enriched anyone until they walk away with something tangible. Until then it is simply a ledger entry. Funny how all the crypto people have thrown millions if not billions into elections in an effort to decontrol. It [crypto] will enrich a few and impoverish many.
A ponzi does make money for early investors.
Until new investors can't be found.
At which point, the price collapses.
It is all an illusion. Bitcoin is nothing more than a pump and dump scam It is high now, but when it's billionaire backers decide it has reached a peak, they will dump it. It will crash in value, they will make a huge fortune (from selling high). Then they will buy it back up at the bottom and repeat the whole thing again.
The only people really making money on it are the Billionaires who can time the waves. And you talking about how btc has "made people money" is proof that even YOU acknowledge that it is not a currency, but rather an investment vehicle.
It is people's money, made by generating no value
@michaelrch it is better to view crypto as a pump and dump scheme rather than as a ponzi scheme.
Very poor understanding of Bitcoin.
Always thought this was the emperors new clothes, it will effectively be a form of hiding wealth from governments and tax, but you can't actually use it to buy anything.
You can't actually buy anything with Gold either. I get Yield on collateralized loans with Bitcoin on Aave. Bitcoin is scaling to the lightning network. Plenty of shops now take BTC but why would you use it for currency? Bitcoin is deflationary so you use ice cube fiat currencies for purchasing things. Not Gold or Bitcoin which preserves value.
What? Electronics? Jewelry?
@@braddater5834how is an asset that can lose 65% of its value in 3 months "preserving value"?!
I guess your right, if you store it on a hard wallet, then yes the government cant steal it if there ever was a compulsory purchase. The people of greece experienced it first hand sadly.
Yes you can use it to buy things.
Loose credit caused the Great Depression. Blaming gold is like blaming not drinking for causing the hangover 🤦🏻♂️
As Warren Buffet says it's literally worthless 😂
His father was a massive gold bug and Warren has bought lots of silver
@@johnnagle7702 Still doesn't change the fact that the statement is true.
Every time I read an analysis of Crypto I'm reminded of induction games where somebody knows what the rules are, doesn't tell anyone, and then everybody in the game has to guess what they are.
Sadly the first time I've disagreed with Richard. He has no solution to the loss of income that inflationary Fiat currency offers citizens. Bitcoin is that solution. For a socialist increasing the personal wealth of everyone (especially the poorest) is unequivocally the right thing to do. Those with the most minimal of knowledge of markets can ride the predictable four year cycle and make significant profits. This has to be the solution for poor people like me to become less desperate victims of poverty.
Or you could just invest in a global-index tracker ETF and make real money.
@@EvoraGT430 You could. Money is fungible and divisible, so you could do both, or even trade them against each other cyclically. Right now, the main indices look very expensive and bitcoin probably has more upside potential, but I could be wrong, so... do what you want
Since Bitcoin doesn't produce any goods or services and increases money that money is either taken from someone else or is inflationary or both.
Fiat money is inflationary. If you see every failing of fiat in relationship to every strength of bitcoin then that is a fallacy. year on year loss leading fiat currencies happen because of governments devaluing Fiat every time they do QE. Bitcoin does better because despite it's volatility it is finite. It is simply a better source of asset value that makes Fiat look bad. Bitcoin doesn't drive inflation because it's only 3% of global assets so still tiny.
This is perfect.
Bitcoin is like Tulip fever.
Just for a minute, i thought you were going to say something positive.
Ha, not a chance.
The ‘currency’ argument is so surpassed Richard. Bitcoin is a digital asset, in simple terms can be considered a, still minor, competitor to stocks, bonds, real estate, etc.. so when I hear about ‘Bitcoin is a Ponzi scheme’ then I look around, I see these other asset classes and I don’t seem to see any differences from Ponzis.
The truth is always one: as a buyer, you will always want to sell for more than what you paid for.
I believe the argument about Bitcoin has more to do with post-modern capitalism: if all of us start seeing 30/40/50% year returns on a digital asset what is the point of, for example, opening a bakery, or a plumbing company..
Food for thought
I hate Bitcoin but I don't agree with all of your points here. The supply is indeed finite-it can only be replaced by other cryptos insofar as gold can be replaced by other less rare metals like silver, iron, or zinc. Likewise, gold has lots of price volatility based largely on speculation. I don't think either should be the world's reserve currency, but you can't deny that gold and bitcoin do have lots of parallels.
Well why do you hate it? Are you ideological?
Interesting that you've put some thought into it and still "hate" it. Any particular reason?
Bitcoin 2 is just a copy and paste away. I could make it tomorrow. Just needs a bit of marketing.
@@philb7942It’d be squashed instantly by attackers
@@philb7942 Yeah, anyone can just copy and paste Apple or Amazon. First mover advantage is huge and not going anywhere.
Gold is for preserving your wealth,
Bitcoin is for growing your wealth,
Fiat is for losing your wealth.
How do you figure that Bitcoin is for growing your wealth? You think it's never going to crash?
I think that like anything, it's cyclical. It's not going to crash to zero because there will always be demand, if that's what you're asking. But if you mean crash as in a normal 50% or 80% crash then yeah that will happen and does periodically. That volatility is the price you pay for outsized returns. If you can't stomach it that's on you. Maybe you'll be a millionaire when you are 80 and spent your whole life working for someone else and paying someone else's mortgage. That's not for me.
@ But that will be for you though if it crashes permanently. Look at Trump coin for example, you think that's "Cyclical"? Why not invest in Trump coin?
Having said that, I do hope things work out for you.
This is a truly terrible video. Nowhere does Murphy just mention that two people can trade crypto anywhere in the world without the intervention of a third party. That is absolutely huge for developing countries who mainly have very limited access to financial services. This could be a significant factor in ending global poverty. There are genuine issues with bitcoin and it may or may not be successful, but this video is just so ignorant and lazy it really puts me off this channel.
Turn off the internet and what happens?
@tombinkley2688 only 8% of the world's cash is physical
@@tombinkley2688the entire banking system would fail 😂
What you have stated is irrelevant to what Murphy said
@@tombinkley2688 have you researched uptime of bitcoin network?
In Gold we Trust!
Until Elon bring's a trillion tons of the stuff mined from a distant asteroid. Then the bottom will fall out of the market as silver did when the Spanish over-mined South America.
The only problem with your theory re gold and money is that there is absolutely no control or restraint at the moment in printing money as is proved in USA where the debt (printing money through bonds) is climbing at a trillion dollars every few months
Cryptocurrency is commodity money without the commodity! At least gold has other uses that make it valuable.
Except that most of gold's value is a monetary premium. It would be better for industrial buyers of gold if it was cheaper!
Gold is massively over valued because it has next to no uses beyond store of value and artworks (Jewellery).
The so called intrinsic value of gold is a tiny fraction of its speculative market value. Get real!
Why did Gold have value 500 years ago when its only use case was Jewellery and use in physical money? Ponder this question for a while and you'll begin to realise that your argument slowly falls apart.
Gold can also survive a supernova unchanged, while bitcoin can't survive a lost password or a simple power cut without being lost or useless.
Holy fuck i lost brain cells listening to this
You probably didn't have any to begin with.
and you lost some FIAT with inflation.
@@burropoco How high is inflation that you lost all your money?
Bitcoin also uses massive amounts of energy to run the servers that 'mine' it.
All renewable or trapped sources.
@@northwestcoast Wrong.
Wait till you hear about RUclips
@@frmcf RUclips is doing something useful to justify its use of power. Bitcoin is a dangerous Ponzi scheme that also uses a lot of power as an added downside.
wait till you hear about gold mining and servers to run p0rn. at least energy going into bitcoin does something useful
Some try talking the price up. Some try talking it down. But it looks like Bitcoin will always be around.
😍
because it is the best inention of all time
I think you are wrong here.
Bitcoin indeed is the new gold. The new Fool's Gold, for sure, but "gold" indeed.
I'm interested in getting started with investing, but I feel a bit overwhelmed and uncertain about where to begin. Could you offer any advice or recommend reliable contacts who could provide guidance?
Seeking professional advice when creating an investment portfolio is a wise decision, as the process can be quite intricate.
Consulting financial experts like Alana Ringberg for advice and guidance to enhance your investment strategy is a wise choice.
Wow, you know her too? I struggled as a beginner and lost a significant amount of money until I discovered Mrs. Alana Ringberg on CNBC. She’s been managing my portfolio with excellent returns, and I genuinely appreciate her sincerity and authentic services.
Wow, Alana manages my investments, and all I have to do is sit back and make weekly withdrawals without needing any trading knowledge. She takes care of everything herself.
Initially, I was quite skeptical when I came across testimonials about Alana, but I decided to give her a chance. Since then, she has consistently provided excellent returns on my investments.
this is FUD, the whales will take bitcoin to the moon,just hold and never sell on red, i think thats how they speak, ive got my money in old motorbikes though
Thanks for keeping us updated! I feel sympathy and empathy for our country. low income people are suffering to survive, and I appreciate Craig Evans. You've helped my family with your advice. imagine investing $30,000 and receiving $95,460 after 28 days of trading
He’s mostly on Telegrams, using the user name be low
@ WhitneyCraigFX .. that’s his name
A few years back, it was really difficult for me, and I was living from paycheck to paycheck, working more than 45 hours a week. I also got into real estate, but I was not successful, but I just heard about Craig through comment, and I gave him a trial then boom. Today, I'm living comfortably and have lots of money saved up
He is really a good investment advisor. I was privileged to attend some of his seminars. That is how I started my crypto investment
The first time we had tried, we invested $1400 and after a week we received $5,230. That really helped us a lot to pay our bills.
If enough people believe Bitcoin IS the new gold then Bitcoin IS the new gold.
I'm favoured financially with Bitcoin ETFs approval, Thank you buddy.$28,600 weekly profit regardless of how bad it gets on the economy.
Same here, I strongly agree that the Bitcoin ETFs approval will be greatly life opportunity for us, with my current portfolio of $102,500 from my investments with my personal financial advisor Jeff Wecker I totally agree with you😊
YES!!! That's exactly his name (Jeff Wecker) so many people have recommended highly about him and am just starting with him from Brisbane Australia...🇦🇺
He's my family's personal Broker and also a personal Broker to many family's in the United states, he is licensed and a FINRA AGENT in the United States.
The very first time we tried, we invested $1000 and after a week, we received 4500. That really helped us a lot to pay up our bills.
Jeff Wecker has really set the standard for others to follow, we love him in Canada🇨🇦as he has been really helpful and changed lots of life's
I don't think many BTC maximalists are saying it is a form of currency that can be used to pay for things. They are saying buy it and over the long term it rises in value (the same as gold). And so far in BTC's history that is what has happened. My BTC has grown 175% in 4.5 years and has helped me pay my mortgage off early. I am happy to receive recommendations but I cannot see where I could have got those kind of returns on financial products in the UK.
You say what everyone says in a ponzi scheme, until it collapses. You can use gold to buy things, as sovereigns for example, are legal tender.
I'm happy for you for paying off your debts with the profits you made but Bitcoin is a huge risk/reward proposition. It's nearing gambling territory. I wouldn't call it a financial product so much as a highly speculative asset. You got lucky my friend.
@@kiefershanks4172Bitcoin was never risky. You're just late.
You'd have got far better returns if you bought basically Nvidia stocks 4.5 years ago, The returns on Bitcoin are nothing special, the opportunity to have it turn you into a millionaire has long passed, people keep buying it in 2025 thinking they too can be like the people who first got in when BTC was £1000 or less, but the opportunity for those sort of gains has long since passed. IF someone was asking me where to invest £1000 right now with the best chance of 10x'ing their money in 5 years my answer would not be bitcoin.
@@rtmclean484 Meaning if you invested 1 BTC into Nvidia five years ago, your investment would be worth 2 BTC today.
This is a sign we're early in btc. Widespread skepticism is priced in. As economists eventually get won over to btc, the value will soar.
Soar... and then crash again. It's wildly volatile
Bit coin may soar in value but it'll crash again too. It'll always be volatile because no one needs it. Its only purpose is for speculation. Stable assets hold a base value because someone needs them.
@@chrisborak2200 You might not think you need it Chris but millions do. Tell me, whats your options in keeping your life savings when having to flee a war torn country or dictatorship? What are you options when your country experiences hyperinflation?
I'll tell you what those with Bitcoin do, ok? And tell me if you have something better?
1. Fleeing their country with family - Jump on a plane with a seedphrase in their heads, meaning their entire life savings are on a plane with them and nobody knows. Try doing that with cash/gold.
2. Your lifes work is burned yearly through hyperinflation - experienced in Argentina, Venezuela etc. Bitcoin saved them through its deflationary design. That design has outperformed every fiat currency on earth every single year for 15 years.
@chrisborak2200 it will be volatile but trend upwards. But I don't want to convince you. Intelligent people who don't own bitcoin are the reason it's not already 250k a coin. Thank you for your service, keeping btc cheap so I can march toward wholecoin status.
@@TerryOHanlon-s6m If you can open an account with a Bitcoin broker why not with Weston Union or a forex or commodities broker? I.e. you don't need to carry a bag of cash or gold when fleeing. In answer to your question, almost anything is a better store of value when the chips are down then bitcoin, look what happened to the Bitcoin price during Covid.
The obvious hedge against hyper inflation is real estate, or really any physical, non perishable asset. If you are fleeing somewhere and need to stay liquid, then why not just buy a stable foreign currency or the currency of the place you are fleeing to - wired to yourself via WU?
Gold is the new gold. Don't have any of that either
Crap return on gold … see Palantir. 😂 that was a good one in at $7 each and watch it rise
Gold has lost considerably against Bitcoin in the past 10 years.
@nikone4129 gold doesn't blink out of existence when the power goes out
@crapmalls LOL! That was the most boomer thing ever! HAHAHAHA! You think BTC disappears when the power goes out? LMFAO! OMG! You are too much. I love it when people have no idea what they are talking about make quips from 2011.
@crapmalls Wonder how the highest use of Bitcoin on earth is in central Africa where few have power, or internet, or computers, or smartphones, yet it is used far more often for day-to-day shopping than their native currency? Might want to look that up. Or not. You do you.
I have a German friend who claims to have made a "fortune" with crypto. She has all the time in the world to maintain the system in her interests, so its not surprise she is all over it.
Then there's the example of the Welshman who threw away his hard drive which had an absolute fortunte stored on it in crypto. Poor chap (literally) pleading with the local council to be able to search the city-sized refuse tips in his futile search to recover it despite throwing it away years ago.
What's the point of your message? Someone who lost a big wallet with money and someone who is an investor. Yawn..
@djdawizz Winners and losers. Those with the most reliable access to an electricity supply and the most time on their hands the biggest winners. Else, I'm not sure how crypto helps when the food supply runs out and/or if you live in the Northern Hemispehere, where the ice over your head is 500 metres thick 6 months of the year.
#AMOCcollapse2040 #climatechangeimpacts
Stay with government controlled fiat. Government is the way of the future
I think it’s a case of ‘tell me you don’t understand bitcoin without telling me you don’t understand bitcoin’ ! And it’s bitcoin - singular and plural (like the word sheep). Must say though, it’s great to see how many well informed comments there are here - crypto really is coming of age !
Imagine kicking off a video by telling viewers printing money is not the cause of inflation, then expecting to be taken seriously.
How high is inflation?
He did qualify that by saying more money needs to be printed as the economy grows, also as the population increases.
@ The CPI is a lie and claims it is 2%. But the CPI picks industries that are getting more efficient via technology, thus their products keep getting cheaper. So the CPI isn't accurate. Homes are a stable store of value, and their price is increasing by 7% to 10% per year. That's the true inflation rate. That purchasing power of the dollar is being stolen from you and spent away by bankers, government, wars, foreign aid, and special interests. Some people are getting rich off this theft, and it's isn't you or I.
@ The population and CPI isn't growing by 7% to 10% a year, which is the true inflation rate. What is growing is Bitcoin. The best performing asset in the last 10 years with a 0% inflation rate and the only asset with absolute, verifiable, scarcity. Only 21M coins that ever will be. Bitcoin has a 60% to 80% CAGR. This guy is a "fiat economist". He supports the status quo and doesn't like disruptive technology that can undo all this corruption in the financial sector. Bitcoin can do this, and to him that's scary.
Fraud is a growing business.
You said Bitcoin isn't limited in supply. That is a false statement.
you need to do more research....
Why ? What is your reason.?
All you have to think about is what happened to most of the gold prospectors, it was disastrous as most died in poverty and painfully chasing a non existent dream...
Most died in poverty because they failed to find any Gold, not because Gold was a useless pet rock
So you're saying that I shouldn't migrate across the country to live in an unsanitary shack surrounded by desperate people with no clean water in order to mine bitcoins from the dirt? Got it!
@@robertsavage677 Exactly, most Gold is in worthless jewellery massively overvalued because it is an "artwork".
@@frmcfno there is no need they are readily available on Coinbase 😅
there are still gold prospectors, they use mercury to extract it and die from mercury poisoning.
there is energy cost to mine gold, on par with bitcoin or servers to run p0rn sites. the difference is that energy going into bitcoin does something good. it it financial system and currency. a financial system with perfect public ledger (all past transactions are immutable and visible, from when a bitcoin was created to how it changed hands and where is now). only owner of wallet that holds BTC can move BTC and no one can stop him. this is big problem for countries as they cannot control capital flow. make bad decisions and ppl will leave your failed economy
its a brand new asset class of 15 years, of course it's going to be volatile 🤦
I'm not saying bitcoin is definitely the answer either btw, but the arguments in this video are just so entry level
The answer? What's the question? The United States has had the biggest GDP in the world since 1890. Seems to me the dollar has functioned excellently.
@@profd65Yes, I agree it's functioning as intended by a corrupt elite...
But who exactly does ever-inflating fiat currency, backed by globalist bankers serve exactly?..
@@profd65 Functioned excellently for whom?