Let’s discuss Cryptos…
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30 thoughts on “The Crypto Crash – Let's Talk”
this dude has a punchable face w that smug laugh when speaking about ppl losing money
I would suggest not taking Michael Saylor's advice, but the "backing" of stocks and/or their "producing" something doesn't really do a whole lot of anything for most people. There's some non-zero baseline value? There's no actual way to determine what that is, normies don't get invited to the big ICO parties, so… It's a speculative asset to buy in the hope it goes up. People aren't buying $178 Apple stock for the voting rights or sub $0.25 dividend. I'd guess mortgaging your house to buy Apple stock is less stupid than to buy BTC, but I wouldn't do either.
I can tell by the number of times you laughed, you were pretty nervous making this video. But nonetheless, I salute you! I believe there is potential for the block chain technology. As for everything else and all crypto currency, as an investment, they are an absolute scam and people would be best to stay as far away from them as they can.
Trading stock /Real estate or forex. Is not as easy like lots of people think,i advice anyone trying to go in to trading, to seek for a good investors,that is willing to guide you with his winning strategy, his mail address is above my comment
I made $67k In just one week,after I lost $35k in my option trading .
It’s good for people to learn a lesson about investing vs speculating.
Said this would happen long ago.
That Saylor video was highly edited.
Et tu Matt ?
You know its terrifying that I understand every word this wallstreet geek says. Thats what happens when you become a day trader. You become a geek too.
no, the utility of Bitcoin is not easy to replicate just because there are many other cryptocurrencies out there. It’s the same deal with tech companies that have network effects—anybody could code a photo sharing app identical to Instagram, but Instagram won because it was early, it built up its network first, and it becomes more valuable as more people use it. The same goes with Bitcoin. It has real utility, both as a payment service and as a streamlined global reserve currency, and that utility can be factored into its price.
I would like to have a discussion with you seems like you feel like capitalism and profits are the way to go but capitalism is flawed and it causes wealth discrepancies as the rich get richer as they own more in the company and get paid even more doing nothing but collecting dividends. With bitcoin the vision is to build companies that are not for profit but due to the vision that the company has and it being self sustainable in the long run so that we can account for the diminishing workforce. There are many more reasons why blockchain will be the future if China becomes the new world order and if our countries become authoritarian like in China we will need a means to be free. There are many more reasons if you look at it objectively and see its benefits. I wouldn't mind having a discussion with you on your views as well so that i can understand the views of a sceptic and clear some doubts you have if possible.
Thanks for the video, it's hard to get realistic information when trading crypto, most people talk about it from within the crypto social bubble and don't cover how external forces effect it.
Monero is the easiest, most rational long case to go for in the whole crypto market.
2017/2018 + 2021 have already proved to me that the mainstream is capable of seeing the idea behind bitcoin. Only issue bitcoin is terrible in practice, lack of always on privacy makes it unusuable. Imagine a world in which bitcoin has become as widespread as the us dollar. Trading with bitcoin would be the horror, it's like having a world-wide viewable debit card, everybody sees the rates at which you exchange goods/services. This maximizes price discrimination through algorithms, additionally every price negotiating isn't viable, since the opposite party already knows the rates you have previously agreed to.
Not to talk about tainted bitcoins. Or even your physical safety from robbers (with btc they can verify value).
This is why Monero is the solution to magical internet money, it's not a wonder that is used as #1 dark web currency.
3:01 i think we've finally found the bigger fool
How many times do we need to tell people not to put all the egg in one basket?
Very helpful, thank you man!
I think I may be another pooper.
I am a Bitcoin evangelist in my country, but at the same time, I also encourage the to stay true and manage their risk accordingly unlike the uncle video you showed in the beginning section of your video.
Many are just too blinded by the target and stuff, and thought that it will go up forever. Remember when you are stopped out because of the loans you take, don't blame the uncle. Blame yourselves for not taking care of your risk properly!
Stop nervous laughing if you want to appear more professional.
This kind of crash happens every 4 year market cycle in crypto it's nothing new. We could see Bitcoin go down 80-85% from it's all time high if the last cycle repeats.
As you say, cryptocurrencies are a risk asset whose value moves proportionally to money supply (or inversely proportional to interest rates). Currently the two main sources of money supply growth driving cryptocurrency prices have been quantitative easing of the US Dollar, and Tether printing. The recent reversal of Federal Reserve policy to contract the money supply has driven crypto prices down, and consequently put Tether under stress as holders redeem it for USD to pay their bills in fiat. But yeah it’s a simple model that everyone should understand: expanding money supply = increased demand for all risk assets including crypto, while contracting money supply = demand destruction for all risk assets including crypto.
Bitcoin is zero sum game, if you think you are at the top 50% of intelligent, well-informed and lucky people, go for it!
Bitcoin is insanely useful, but only in limited niche situations that won't apply to 95% of the population. The idiotic tendency to try to apply bitcoins to where they have no use is why we get insane speculative bubbles that were doomed from the beginning to burst. I don't see this price collapse as a failure of bitcoin, but rather as a sign that people who had no respect for the underlying technology got bored and have finally decided to leave alone this thing that they never understood.
I used my crypto account sorta like a Christmas club account. I invested about $500 dollars over 7 months and then took the money out in October and November to pay for Thanksgiving and Christmas. I made about 1200 from this investment. I only have 18 dollars left in the crypto market tho. I'm gonna grow my own food and I'm getting some chickens next month. It's that time y'all! Time to prepare for the depression.
i agree with a few things you said, but the problem is to mixed all this with Bitcoin, and also most of the pricing is because of especulation but that doesnt change the fundamentals of Bitcoin and what bitcoin resolves, if you believe in bitcoin use case and fundamentals then you can buy it without thinking on the price action, if you are here because of speculation and price action then you are just gambling.
Bitcoin use case is real, you like it or not.
The source problem is that we still have not agreed on what the definition of investing is.
Finely some smart and logical thinking
You’re being generous bro. The correct answer is majority of those were Ponzi schemes hiding behind Crypto.
Crypto = greater fool theory. And unfortunately the greater fools lose every time
Why do you keep laughing anxiously after every 2 sentences? Serious question
RIP my country El Salvador. Heck this is just the tip of the iceberg showing why Bukele is the worst president to ever exist EVER. Biden is an absolute saint by comparison lol.