Two people disagree in a locked room: one has a million dollars, one has a loaded gun. Who wins the arguement ? Money and Power are often the same, but there are times when they are not. And in those times, Power always wins.

@bp8404

2 жыл бұрын

accept for the first time in history you can kill the person and still not be able to take the wealth

@spartanrh83

2 жыл бұрын

I keep telling people this. The Dollar is backed by violence. It will be #1 as long as the U.S. military is supreme.

@RevanLaughs

2 жыл бұрын

If you're in a locked room, is the million dollars going to help you in any way? You presumably can't get food or supplies with it and aren't dying of cold so you don't have to burn it. If it doesn't help you escape the room or acquire outside assistance of any sort, and both parties know the room isn't going to (ever) be unlocked, the million dollars is fairly useless.

@brandonderrick006

2 жыл бұрын

Bitcoin is the gun. Checkout Jason Lowery. If you don’t trust MIT space force minds I can’t convince you ✌🏾.

@PigeonLaughter01

2 жыл бұрын

Thats why I think the MIC is the biggest power broker. They got dirt on everyone, and the jackals to suicide those who don't listen.

5:08 you can crash the price by being a large holder and selling it en-masse. Governments are capable of doing this, so are the ultra-wealthy. Which means that despite the decentralized nature of bitcoin, controlling a lot of it counter-intuitively can make the levers of control around it centralized.

@brizzlefarmizzle

2 жыл бұрын

It's not decentralized

@JacobSmythYT

2 жыл бұрын

Wait until you hear about the US Treasury lol

@bingbong2257

2 жыл бұрын

@@brizzlefarmizzle the network is decentralized and autonomous by definition

@brizzlefarmizzle

2 жыл бұрын

@@bingbong2257 but it isn't

@bingbong2257

2 жыл бұрын

@@brizzlefarmizzle wow I never thought about it that way

Apocalyptic transition. So, buy ammo instead of bitcoin? Got it.

I like how everything was a bubble in his speech (real estate, stocks, ...) except crypto.

@AureliusProject

2 жыл бұрын

If he included crypto he would be correct

@Abhishek-kg3jr

2 жыл бұрын

The unfortunate thing about crypto is that people won't even know how to calibrate a bubble in crypto and god forbid if the doomsday comes, it will be Armageddon

@AureliusProject

2 жыл бұрын

@@Abhishek-kg3jr a bubble is extremely easy to identify. Ask the question: Is money being borrowed to buy with the hope of “getting rich”. Investing is about getting a future return in capital. A bubble is pure speculation.

@is-ness

2 жыл бұрын

He is not a fan of crypto he is a fan of Bitcoin. He would agree with youbre crypto. You can make more. Btc you can't.

@blasterzone100

2 жыл бұрын

He said BTC not crypto

Im pro btc but calling out stocks and bonds is silly. They actually generate real cash flows.

@infamousnachi

2 жыл бұрын

Just because they generate cash flows doesn’t mean they are not in a bubble.

@scchicago5822

2 жыл бұрын

@@infamousnachi Just because it goes through bubbles, doesnt mean it doesnt create value. BTC does not create value. BTC is worth what someone else is willing to pay for...it is strictly a belief system. No country outside of maybe El Salvador can force its citizen to accept btc for payment. The argument that an asset solely based on individuals belief in it, is "better" that traditional financial products that generate income, I just dont buy. If the argument is from risk return profile btc will outperform equities and bonds, OK i can buy that. There is a chance btc will be worth zero 10y from now, but the chance of SP500 worth 0 is 0

@alphapinggmbh6916

2 жыл бұрын

Well, some also generate negative cash flow. Just saying.

@cammorton2384

2 жыл бұрын

lol, bitcoin isn't about fundamentals, it's a mix of maligned distrust of centralised authorities (but you trust Michael Saylor and Satoshi?), naive view of how money and regulation works with a some FOMO underpinned by the greater fool principal that someone else will pay more for bitcoin that you just did :)

@chad6504

2 жыл бұрын

@@scchicago5822 stocks and bonds are worth what someone else is willing to pay for it. Difference is, their value is based on fiat system which is subject to Central Bankers and money supply inflation.

"maybe I'm biased because everybody thinks what they want is what's going to happen" is the only valuable statement in the whole clip.

'B' FOR BITCOIN REALLY STANDS FOR 'BANKS'

@valuetraveler2026

2 жыл бұрын

What’s your alternative

So what your saying is that power will shift from oligarchs to crypto oligarchs which are the same oligarchs. He said to give people a chance to accumulate bitcoin, this is a load of horse maneur, and a farce

OK, call me a fool , I accept that. I DO NOT UNDERSTAND BITCOIN.

@miguelpereira9859

Ай бұрын

Watch the video by 3blue1brown

I will never get the old school way of thinking that some folks use to trash BTC. Its like they are proud of being ignorant and even worse, poor.

@Curiousnessify

2 жыл бұрын

its like horse and buggy investors talking crap about a rocket ship

@poindextertunes

2 жыл бұрын

@@Curiousnessify facts 💯

@kevinmcloud9987

2 жыл бұрын

Cant wait for it to hit 0.000001

Sounds like more rake.

Trying to understand Bitcoin is like my grandmother failing to understand and use email in the late 90's. She never made that trip to the library to create a Hotmail account.

@AgentZigz

2 жыл бұрын

its like any other pyramid scheme.. it only works if u join.. network marketing if u will

@Dawho99

2 жыл бұрын

Just a humble question, if there is a finite number of bitcoin that can be mined, what will be the incentive for miners/processors when this ocurrs? Will fees skyrocket?

@ralphholiman7401

2 жыл бұрын

Maybe that's my problem. Because, I used to work financial fraud for a living, and bitcoin sure looks like a Ponzi scheme. A long lived and very big Ponzi scheme for sure, but still a Ponzi scheme.

@DAAllan82

2 жыл бұрын

Fees will depend on the processing power available. So while there is capped supply of BTC, there isn’t a capped supply of miners. If the fees go up, more people will mine, which will drive the price down.

@albertawheat6832

2 жыл бұрын

@@ralphholiman7401 It is indeed.

He’s totally wrong at the 5:00 mark. Even though it has a finite supply, BTC can be manipulated like other commodities e.g. gold, silver, copper etc. because when the BTC ETFs come along, paper contracts will be used the destroy the price to favour those who want it higher or lower at any given moment.

Saifedian is correct, right now I compare BTC with a basket that holds value, at some point in time the basket becomes more valuable than the value it holds

@skafabafa

2 жыл бұрын

@@RCGolf What im trying to say, BTC is valued in FIAT, in the future BTC might be valued in BTC, since it could become the global standard of value, not the Dollar

@skafabafa

2 жыл бұрын

@@RCGolf 22 years ago I was paying everything in Gulden, it got replaced by the Euro. Just like that, the Gulden had became worthless. You could still calculate how much Gulden a Euro is worth, but it doesnt matter, cant pay with Guldens. Right now, I can pay almost everything with BTC, as long as a FIAT currency is in between the transaction. Its just a middleman. There are already assets you could directly buy with BTC without FIAT in between, that will only increase. I see a trend and I believe that at some point FIAT becomes obsolete.

Yes

Come for the Abundance, stay for the Revolution (LOVE)

All roads lead to Bitcoin and the band CAN.

How do you tax bitcoin?

@JosefJochemPodcast

2 жыл бұрын

In the end governments have to enforce a sales tax collected by businesses. Trying to go after people’s bitcoin stack is next to impossible with the proper privacy techniques.

@user-tu2dr3ny6x

2 жыл бұрын

@@JeffCaplan313 If they can't find the wallet, they can't ever actually prove the bitcoin purchased from your exchange account actually went to a wallet that you own.

This guy has the Apartheid system all backwards. As much as I'm anti government. The government system "cash" is basically untraceable in most circumstances. BTC IS ALWAYS traceable and wallets/coins can be blacklisted.

@M7_7_0

2 жыл бұрын

That’s what I’m thinking

@damo5701

2 жыл бұрын

Governments/banks are trying to get rid of cash.

@blizzmademegod

2 жыл бұрын

Monero is the truly anonymous currency the glowies don't want you to know about

@M7_7_0

2 жыл бұрын

@@blizzmademegod what’s a glowie

@TheJeremyKentBGross

2 жыл бұрын

Don't like losing your Twitter account for vaguely defined and transparently unequally enforced "terms of service"? Just wait! They will deplatform you from money for opinions that are still the majority view but were deemed politically incorrect by the trust and safety council as of yesterday, because you said it on a different platform 20 years ago.. or of course just told a necessary relevant truth that certain powers want to be kept silent, which is thus of course classified as "disinformation." Increasingly I wonder if agriculture was actually a good idea. Or... at least this whole internet thing. It seems like maybe it enslaves us, but we can't look away. And it seems is always ruled by folks who convince themselves that they, and they alone, would use the One Ring of Power for good, which is why they and they alone should have it and be in charge. They are here to save us you see. From ourselves, and especially from truths they personally find offensive or inconvenient. Oh well, the thing about this whole living experience is that nobody gets out alive.

Genuine question. On what analysis do people trade in crypto? Like technical analysis fundamental analysis for companies, what is the movement in crypto based on?

@amirmoursi9870

2 жыл бұрын

Technical analysis is popular, but there are so many indicators and metrics that it really boils down to over time btc tends to trend upward with time

@amirmoursi9870

2 жыл бұрын

At least so far, could go down and never come up again. That’s the magic and what makes it so speculative. High risk high reward

We are inside it.

Digital tulips.

Always hear debt talk. Never talk about who the debt is owed too?

@brerrabbit9668

2 жыл бұрын

Blackrock and Vanguard own Controlling interest I have 90% of all publicly traded companies. The imf and world bank hold the debt for every country on earth. All are owned by a handful of the same Families. Which means all debt, private and public, is owned by Goldman Sachs, Rockefellers, Lehmans and Kuhn Loebs of New York; the Rothschilds of Paris and London; the Warburgs of Hamburg; the Lazards of Paris; and the Israel Moses Seifs of Rome. Those still look up to these three.. Rothschild, SCHIFF, WARBURG families. They own the world.

@nycgweed

2 жыл бұрын

China 🙂

In recessionary capitulation...we will see just how much folks value BTC. Will be interesting

@crazyprayingmantis5596

2 жыл бұрын

It was born out of the 2008 recession

@valuetraveler2026

2 жыл бұрын

Heard this before a few years ago

To be clear, he is talking about Bitcoin exclusively here, not just any crypto. I would like to understand how even though 0.01% of BTC holders have a little more than 25% of all of the coins in existence, that it is still a viable alternative currency for the world going forward. Can anyone help me with this?

Unfortunately I only see number go down

@valuetraveler2026

2 жыл бұрын

Which chart?

while it is still cheap… that was many years ago

Yeah, i dont get it, probably cause I dont own any bitcoin or crypto. You still need to buy things with fiat money, right? So when you sell bitcoin to get fiat money, you buy inflated money, meaning you get less money for your bitcoin. Or is it meant to that people can buy from stores with bitcoin, but then, its the same thing because the products are more expensive. Im stupid so if someone could explain me.

@valuetraveler2026

2 жыл бұрын

Bitcoin gets your more fiat even with inflation. If he is right there will come a point where this is no longer the case as the BTC price would have steadied and the fiat system will collapse

Only brillant mind in this man

Would have been interesting to have this talk next week, with everything happening in crypto

@LilKidAttacker

2 жыл бұрын

Not in terms of bitcoin, nothing has changed for bitcoin due to current events.

@ottoavila9895

2 жыл бұрын

@@LilKidAttacker why has bitcoin escaped so far?

@KarmaSwiss

2 жыл бұрын

@@ottoavila9895 institutional investors

@KarmaSwiss

2 жыл бұрын

Btc is up 14% back above 30k wym

@konini12

2 жыл бұрын

Bitcoin is following its typical 4 year cycle. The collapse of Luna Terra is bullish for bitcoin and its POW technology in terms of security

“Come for the greed and stay for the revolution”. Brilliant! Harness the dingy side of human nature for good.

Getting governments to adopt btc. Incredible.

Government don't need to stop yall from buying bitcoin, yall pockets will.

All the government needs to do is flip the switch on electricity....and "poof" bitcoin dissappears.

@ericsouthwood172

2 жыл бұрын

What??

@trac1Digital

2 жыл бұрын

@@ericsouthwood172 Bitcoin relies on electricity for its existence. No electricity = No bitcoin.

@valuetraveler2026

2 жыл бұрын

Sure

@valuetraveler2026

2 жыл бұрын

@@trac1Digital means no a lot of other things too

@kathybreneman7892

Жыл бұрын

Also bank accounts, stocks, all financial assets disappear without electricity.

If this guy is correct, Bitcoin is going to 20x-30x. Why would anyone ever want to sell it now? Bitcoin cannot be currency because it is extremely deflationary. A good currency should be stable over time and the supply matches the currency required for economy to function.

@TheBswan

2 жыл бұрын

Why do you think currency should be inflationary?

@pengbertuuu

2 жыл бұрын

@@TheBswan I said the currency should be stable. One unit of currency should buy about the same products and services over time. The values and products and services keep growing but the supply of bitcoin is limited. Bitcoin could be store of value if a group of people believe in the coin, similar to gold, real estate, paintings, etc. but I don’t think it can be a currency. Of course, the hard part is how do we define the value of product and services. Current CPI probably doesn’t work well enough.

@crazyprayingmantis5596

2 жыл бұрын

Bitcoin is property not currency. If you trade one currency for another you pay no tax. If you trade Bitcoin for another currency you pay tax, why? Because Bitcoin is considered and taxed as property. So many people wouldn't ask so many dumb questions or be so negative towards Bitcoin if they understood this. Most people who haven't done more than 10mins of educating themselves about Bitcoin think of it as a currency and therefore have all these objections about it for the wrong reasons

@Nostrada-mus

2 жыл бұрын

Because this guy is naive and has no understanding on how money works. He thinks people are in charge when bankers and elites are controlling the money and food supply. He is extremely naive.

@nipple3458

2 жыл бұрын

@@pengbertuuu if technology makes producing goods and services easier over time then the price should go down.

This is ridiculous. Bitcoin's value hinges on someone believing it has value. There's nothing backing it up.

@radicaIarchitect

3 ай бұрын

True, I believe it has no value but somehow the price keeps going up 😢

This is bizarre because Bitcoin isn’t pfs. He’s not wrong about crypto assets in general just Bitcoin in specific.

I want mine more money. Its a common feeling for everyone. Any symptoms is vulnerable. I think it's a bad ideas buying diet.

I hear if you don’t also buy tulips, you’ll stay poor

There literally isn't enogh bitcoin to go around and even if there was, it will be worthless before it's all mined.

@duaneb21

2 жыл бұрын

🤣🤣🤣

What is it that makes Bitcoin valuable? What is it that makes stocks, land, real estate, precious metals, etc valuable? What does a person actually own that has bitcoin? Just curious...

It blows my mind how one minute this dude speaks about what real money is(physical value) and then the next says crypto(which is fiat currency not physical value) is just like real money, he either doesn't understand his one words or is selling the pyramid scheme of crypto to stack his own pockets

@vipcress

2 жыл бұрын

bias is inescapable for all of us.

Isn't Bitcoin totally open and easily tracked / surveilled?

@cryptoark2791

2 жыл бұрын

Yup! Look into Monero my friend and thank me later!

I was gonna go read this book till he said something along the lines of “other ways to save your money experience bubbles and Bitcoin doesn’t”.

@TheBswan

2 жыл бұрын

He's talking about Bitcoin from a long term theoretical perspective. Only ~1.5% of people own any crypto. If Bitcoin achieves widespread adoption, there won't be any mechanism by which the price of Bitcoin could be manipulated to the same degree as fiat, since its supply is predictable. Right now it's the demand that is unstable, as speculators try to determine whether Bitcoin ever will achieve widespread adoption. Not a btc shill; only have ~5% of my portfolio in it.

@mcm4981

2 жыл бұрын

And just before that he says... "nobody can make more of it" hmmm 🤔. Except they CAN fork it and they did. And will they do it again?

@valuetraveler2026

2 жыл бұрын

It’s a store of value until new people stop buying it - it’s a longer term perspective once it reaches its price and settles down. Now in this phase and with leveraged stablecoins it’s more like a hybrid

@mcm4981

2 жыл бұрын

@@valuetraveler2026 and how many times can it be forked? Who decides?

Feels like a time share presentation

@MrVerdes22

2 жыл бұрын

Bc you can’t differentiate facts from bull$hit. Bummer 🤷‍♂️

@cammorton2384

2 жыл бұрын

Totally, and the whole 'everything is garbage but Bitcoin' is absolute nonsense! He is deluded.

The term decentralized actually sounds very attractive but it implies very big risk as well because there is no individual or centralized legal entity which can be responsible when there is any events. If bitcoin can be used for crucial transactions widely such as oil trade, then I can really believe what crypto manics are saying but as long as they now perceive crypto as an asset rather than a currency, it will never be trusted. This is the asset does not generate any value plus prices can be only increased when there are ppl willing to pay higher prices only. Same for the gold but gold can be accepted in everywhere in the world and it has track record of several ages. So all these stable coins trying to pledge its value based on fiat currency or other asses or even other crypto coins. This is just scam really. It is very uncomfortable the crypto ppl deliberately ignore the fact that its value is and will remain inherently volatile. Can you or anyway would happily accept crypto as collateral if you would lend the money or whatever? And in my view the fact that you cannot control or reduce the number of bitcoins are actually more dangerous than inflation and surely people will lose value because ppl are trading with split amount of bitcoin.

@blakemcclaren

2 жыл бұрын

No one is forcing you to use it, you are forced to use the dollar. The dollar is violence, BTC doesn’t have to be violence.

@jkim3275

2 жыл бұрын

@@blakemcclaren you can put moral argument here. Free economy and trades are only possible with very fundamental and strong legal framework. Decentralized chaos cannot substitute currency or can’t be valuable assets. And people pretending really there will be no problem with crypto are to be responsible.

@blakemcclaren

2 жыл бұрын

@@jkim3275 "Decentralized chaos cannot substitute currency or can’t be valuable assets" Why not?

@ctsd623

2 жыл бұрын

Volatility decreases over time. So much misinformation and misunderstanding in this post, study more and a these criticisms fall apart.

@bitcoinisfreedommoney.fckt2663

2 жыл бұрын

@@jkim3275 You're so dimwitted it's not even worth arguing with you. Go away and study bitcoin for 6 months then re-read what you sperged out and shake your head at how much of a spanner you were when you wrote this

There's a couple of very good reasons why BTC is stalling at the moment; Debt is denominated in Fiat. And the public are easily led.

@bitcoinisfreedommoney.fckt2663

2 жыл бұрын

Bitcoin isn't stalling. Blocks are still being mined every 10 mins. Hashrate extremely high. Who GAF what is worth in toilet paper money? Get you mind away from fiat thinking bro. JFC are you a bitcoiner or a LARPer

@valuetraveler2026

2 жыл бұрын

Stalking is the wrong word. This is the transition and it’s marked by extreme volatility - the question is how long do we have left to stack sats? Perhaps only till 2028

@danrayson

2 жыл бұрын

​@@bitcoinisfreedommoney.fckt2663 I meant the price is stalling. And truth is we need to think in fiat until the real transition, that's how the world is run right now.

Crypto is a pyramid shaped torjan horse

and yet.. none of these people can tell you what a bitcoin is (without using spooks like "digital currency")

@crazyprayingmantis5596

2 жыл бұрын

Bitcoin is digital property. Satoshi solved the Byzantine generals problem and managed to figured out conservation of energy in cyber space. So Bitcoin is digital property that conserves digital energy in cyber space. It follows the laws of thermodynamics, it's mining difficulty adjustment is a first order negative feedack loop. Now you may not understand what these words mean, and you may call them "spooks" and think im talking technical and dismiss it, but I suggest (if you're interested) to learn. If you're not interested, just keep going about your life as if you've never heard of it.

@jacobj3491

2 жыл бұрын

I understand it. The guys in this video don't. I can (and have) code my own blockchain, similar to bitcoin but much simpler. The cool thing is that you don't have to understand it to use it. I'm using the internet right now and I don't really understand it

@valuetraveler2026

2 жыл бұрын

Read his books - will give you an idea

If any major government like the US, China, Japan or Germany officially accepted bitcoin, there would be an immediate collapse of the other currency. It wouldn't be a slow transition and the people left holding the other currency would be immediately impoverished. For this reason, they will cling to the bitter end, making the fall that much more traumatic.

@CoolestGuyInTheRoom

2 жыл бұрын

What about money from Monopoly games?

@AO-qy8fp

2 жыл бұрын

Imo not possible. BTC is not made for transactions. Which is one of the reasons we left hard money for fiat.

@michaellowe3665

2 жыл бұрын

@@AO-qy8fp it seems to do transactions better than the US dollar. You get near instant verification with btc, but just paying bills takes 2-3 days to clear the bank before it "arrives" when using dollars. Maybe higher value transactions like ACH are different. I never compared those. It seems perfectly fine for common uses.

@AO-qy8fp

2 жыл бұрын

@@michaellowe3665 BTC blocks take about 10 minutes to give conformation. That's not instant. Swiping a debit card is instant. Handing over cash is instant. BTC transactions are limited to no more than 7 a second. Cash and VISA never delay because of congestion and can do thousands in seconds. That's not to say BTC doesnt have its uses. Like I said it's a hard money. Just like gold which also isnt practical for regular day to day transactions. Doesnt mean it's not a good thing. Just not good at transactions.

@michaellowe3665

2 жыл бұрын

@@AO-qy8fp most of the ones that seem instant are actually done at slight risk. Debit and CC transactions are the bank agreeing to move the money without fully confirming funds availability. They don't absolutely know that another transaction isn't occurring simultaneously. The risk is low and the amounts are small enough that they allow it if the preliminary information about account balances appears correct. Even a cash transaction isn't really instant. Go buy a car on Craigslist by handling someone $4000 in 1$ bills. I'm sure you aren't driving away until it gets counted. If the seller doesn't, he is also taking a risk.

Wait so people will sell me their i finitely valuable bitcoins for my worthless dollars?? Where do I sign up!?

But number go down though

@radicaIarchitect

3 ай бұрын

Really 😅

What happens to bitcoin when there is a bitcoin recession?

Bitcoin is extremely traceable. That's the whole point.

@gunnar4554

2 жыл бұрын

immutably so

@Feasibleearth

2 жыл бұрын

Transactions are traceable. The bits can be in an anonymous wallet.

@Elliott_Elliott

2 жыл бұрын

@@JeffCaplan313 Its actually not anymore

"number go up technology" I like this guy

In Canada we have Pierre Poilievre advocating a Bitcoin adoption in Canada 🇨🇦 The truth is out there

@alelectric2767

2 жыл бұрын

Ya and he’s fulla shyt. He ain’t gonna do anything of the sort.

@valuetraveler2026

2 жыл бұрын

Forget politicians

Why do people think bit-coin is untouchable by governments? Feels naive.

It will be as easy as making it illegal.

@valuetraveler2026

2 жыл бұрын

Like gold

@10000Islands

2 жыл бұрын

@@valuetraveler2026 Gold doesn’t require the power to be on.

Did he just call printing money, mining fiat? lol

@Curiousnessify

2 жыл бұрын

lol good catch

So many in here have 0 clue what they are talking about. I hope new investors can find good information.

@crazyprayingmantis5596

2 жыл бұрын

I've been in crypto since 2013, I've come to the conclusion that the more people that know about Bitcoin and crypto the less they understand it. So many people talking, yet so clueless.

"house builders can build more houses, therefore it's not a good store of value because they can always make more houses".... as if the only determining factor of real estate value is how many houses exist? This seems like a flawed example, but hey I don't even understand crypto so maybe I'm in the wrong

@CoolestGuyInTheRoom

2 жыл бұрын

You must understand Bitcoin is based on math and there will only ever be 21 million BTC.

@valuetraveler2026

2 жыл бұрын

It was a weak argument. The strongest one would be that there is not central bank to manipulate supply and demand with Bitcoin

@cammorton2384

2 жыл бұрын

yeah totall, errrr....how about than land tho, just create more of that (in areas where people want to live)?!

I might buy a COLD WALLET. I can't really accept the idea of BitCoin as an investment. And "Currency"?!?! Crypto is a DOUBLE OXYMORON: It's not confidential and it is not used as a currency! IMHO

@crazyprayingmantis5596

2 жыл бұрын

Bitcoin is property

@Freddy-Da-Freeloadah

2 жыл бұрын

@@crazyprayingmantis5596 You can only say that as long as "miners" maintain the existence of bitcoin... It can very easily become unprofitable to mine bitcoin, and then it will cease to exist. IMHO

@crazyprayingmantis5596

2 жыл бұрын

@@Freddy-Da-Freeloadah Bitcoin will still be property. When it becomes unprofitable to mine, smaller miners usually start turning their rigs off, the difficulty adjustment kicks in and rebalances everything. Miners have seemed to figure out that its more beneficial for them if they don't sell their Bitcoin to pay their costs but instead use it as collateral. The mining difficulty adjustment is a first order negative feedback loop.

@Freddy-Da-Freeloadah

2 жыл бұрын

@@crazyprayingmantis5596 Maybe the 1Million BitCoin in the hands of Satoshi? Nope! It will disappear. VAPOR-WEAR! No calc.s no coins! IMHO

At the moment you can divide your asset in near infinite small pieces and most of the asset is accumulated with only a few people, how can we say the asset is good and hard only because you cannot create more?

@TheBswan

2 жыл бұрын

In this pod and elsewhere he defines the "hard-ness" of money as the difficulty to produce more of it. Being able to sub-divide is a property of any currency, and the distribution of ownership is a separate topic from hardness or other intrinsic properties of a currency

@crazyprayingmantis5596

2 жыл бұрын

The mining difficulty adjustment is a first order negative feedack loop

There is not enough bitcoin for all the humans. Has other issues also. Blockchain nevertheless is what he is saying. Just that bitcoin has limits that need to be addressed.

@MrVerdes22

2 жыл бұрын

Are you dense? “not enough bitcoin for all the humans” 😭 😂. What exactly would be the right amount 😆.

Bitcoin is the king of inflation and deflation. But the worst for global economy is that in the long term is deflationary. I recommend you buy Bitcoin asap, but I will tell you that if Bitcoin some how becomes the standard instead of fiat the world will go back to monarchs. That means lots and lots of miserable people and very few unthinkably wealthy.

@Woodroffski

2 жыл бұрын

Isn't that what we have right now?

@theluckygamer5236

2 жыл бұрын

@Woodroffski I think probably worse then now because the government can currently print money and give to poor people, which I assume can’t be done with bitcoin

@Woodroffski

2 жыл бұрын

@@theluckygamer5236 Who do you think pays for that printed money, and how?

@delightfulThoughs

2 жыл бұрын

@@Woodroffski the answer is the rich. The rich pays for the printing of fiat through inflation. Inflation hurts the wealthiest the most. The current state of the fiat system is not perfect, but is a marvel of humanity. through all the regulations and legality of it. You see, regulated inflation by means of instruments like bonds buying and money printing force the rich to invest, they take the risk for exemple opening a new business to try to beat inflation and profit. If they instead decide to keep cash they will lose. There is where the medium and lower class paycheck comes from. So, inflation is the best friend of the poor. Obviously when thinking personally maybe doesn't seam that way, but for the system as a whole is basically what makes modern life possible. Bitcoin on the other hand is the opposite, the rich will not dare to risk investing if they know they posses a deflationary asset like Bitcoin that will double in value no matter what year after year. Nobody in their right mind will spend their Bitcoin on a new car if they know they could buy that same car for half the amount of bitcoins the next year let alone invest in a restaurant business for exemple, and is a vicious thing that will go over and over to destroy the whole system in place.

@delightfulThoughs

2 жыл бұрын

@@Woodroffski you have no idea what miserable people means.

Your reasoning is not wrong, but your core concept is incorrect. BTC is ALSO a FIAT currency.

Great analogy to the Trojan horse. however in the true sense of a Trojan. Bitcoin is the horse. A false flag. If Banking = The auto industry. Bitcoin is AC propulsion. Ripple are Tesla.

@vipcress

2 жыл бұрын

Keep getting notifications from KZread about 'likes' on this comment. But the comment has no likes.... odd.

@SnoWhite2420

2 жыл бұрын

@@vipcress I will like it and see if it sticks!

Bitcoin is effecred by inflation. Just the facts. All markets suffer, except Bitcoin? Hmmm

didnt realise michael knowles was a btc maxi

Government controls the internet. Hence Bitcoin

How does someone have this stance in the current crypto bloodbath?

@TheMrNukeman

2 жыл бұрын

Because it's not a "bloodbath". You must be new to crypto lol I have been holding many different cryptos for years now and yes this time is rough, but nothing compared to some shit we have had before and the up times have always been even better than the down times. I keep holding.

@KevinMullaney333

2 жыл бұрын

In hip wader’s, goggles and some lip gloss. The stance has hands on your hips and start buying this gift sale.

@davidbrown4271

2 жыл бұрын

Might go to 5 k

@Foxynaut888

2 жыл бұрын

Because Bitcoin is holding up relatively well against all other shitcoins

@crazyprayingmantis5596

2 жыл бұрын

Because 1 Bitcoin is still 1 Bitcoin Price in fiat terms goes up and goes down, that's what markets do. You'll get it, keep learning 👍

Just not buyin the Bitcoin thing. It’s not a currency to buy things. It’s just an investment of numbers on a screen.

@crazyprayingmantis5596

2 жыл бұрын

That's OK, you'll understand someday. Keep learning, the Orange Pill will eventually be swallowed. (You won't know what that means until it happens to you 😉)

An inch can be divided again and again into smaller and smaller portions. In fact there exist an infinite number with-in a single inch. So, print more or divide more it's them same thing. Is it not? Currently a Satoshi is the smallest unit of Bitcoin currency where a single Satoshi = 0.00000001 Bitcoin. Now, that's pretty damn small but it could be divided up again and again and give new name after new name. Micro Satoshi or Pico etc... Bitcoin isn't one to one Work/Energy. No currency actually measures Work accurately, one to one. Bitcoin provides no more purchasing power than any other type of currency to the average person. Because, it's not a currency it's a property. And, those who have property now under the current system will have it under the new system which is the same as the old system.

@1Snouser

2 жыл бұрын

Well put

@amanuscar

2 жыл бұрын

Hey I have a pizza, let’s keep dividing it so we can feed the world!

@amanuscar

2 жыл бұрын

No it’s not, it’s a misunderstanding of the technology. I have a pizza, let’s keep slicing it into smaller pieces to feed the world!

This guy will get people rekt

Why are the biggest advocates for BTC are always people who own a shit ton of it?

@kumapunk

2 жыл бұрын

if you advocate for it, why don't you own a shit ton of it?

@dolph3578

2 жыл бұрын

good debate here boys solid points all around

@mbtisocialclub

2 жыл бұрын

Why are the fattest people the ones who eat the most?

@davidjackowski4336

2 жыл бұрын

Because they understand Bitcoin.

@Arbiter710

2 жыл бұрын

Smartest Lex Frid comment

Lex ClipsBaits

#pulsechain solve this

I was following him just fine until he flamed other markets for being bubbles. Why would he argue for the long term adoption of crypto but trash talk the short term bubble of the markets? Long term stock portfolios provide protection against inflation just like BTC, and are backed by real companies. Who would save their long term retirement money in a freaking bank account? He failed to connect the dots here.

buffet: bitcoin = turd

So what if governments control access to the internet?

@radicaIarchitect

3 ай бұрын

By doing what?

@yeboscrebo4451

2 ай бұрын

@@radicaIarchitect by forcing people to abide by a social credit score in order to be allowed access.

I dont think this aged well

@radicaIarchitect

3 ай бұрын

Wow, how about now?

All these guys have a simplistic analysis that assumes that the "powers that be" won't find a hundred ways to both combat crypto currencies AND to suck the benefit out of it for themselves.

@valuetraveler2026

2 жыл бұрын

You are taking up the so-called defeatist position

Lex! Have you looked into #ETHGate? Everything going on right now between Ripple and the SEC?? Bigger scandal unfolding the Bernie maldof. Extremely eye opening! Please have John E deaton on!

@Styxnyx

2 жыл бұрын

I second this! John Deaton has been on top of it for the XRP/Crypto community. I really wish someone would actually talk about XRP and the ideas around the ISO20022 standard. One of the more unique ideas such as having no incentives is something we should talk about as a lot of the issues in crypto stem from the basic human issue of greed and fomo.

This guy loves hearing himself talk. Everything is a bubble except Bitcoin yet it’s down over 50% from it’s ATH 🤔

@TheBswan

2 жыл бұрын

Then it's a perfect time to buy :)

@crazyprayingmantis5596

2 жыл бұрын

Why don't you mention how much it's up since it's conception? Or how fast it's being adopted?

@Elliott_Elliott

2 жыл бұрын

You really wanna argue, that equities, real estate and fixed income are not all in a at least medium if not large bubble? Shits all crashing down currently and still overpriced. He's dead right.

@DylanCure

2 жыл бұрын

954% YOY returns . shut up u bot

@MrVerdes22

2 жыл бұрын

Bitcoin is a harness which to capture the contents of said bubble.

Bitcoin is not decentralized...

"...come for the greed and stay for the revolution". I love this statement from Mr. Ammous.

Governments will crush Bitcoin

@JohnnyYork

2 жыл бұрын

They created it .

This guy is ideologically possessed. Not rational in the slightest.

A trojan horse, by definition, has some malicious functionality that isn't visible. Bitcoin is open source so this is a really weird statement to make.

@Sp3nny88

2 жыл бұрын

It's not weird at all, Bitcoin is malicious to fiat which is fantastic for everyone. Fiat currency is a cancer.

@ClarkHathaway3238

2 жыл бұрын

@@Sp3nny88 Bitcoin being more than a vehicle for the wealthy is something I have yet to see.

@ClarkHathaway3238

2 жыл бұрын

@@JeffCaplan313 idk what you mean by source or code. The source code is publicly available

@ClarkHathaway3238

2 жыл бұрын

@@JeffCaplan313 I don't know who he is and I don't really think it matters

@okn712

2 жыл бұрын

@@ClarkHathaway3238 would it matter if Satoshi was a leader/member of a non elected elite class (ex: bankers, ngo’s, dictators etc)?

How can you be sure Bitcoin is the future? What if I more useful (crypto) currency comes about? There is a chance that the chosen solution is valueless. Think computer chips. This technology was unimaginaley expensive 40 years ago, now a powerful computer can be purchased with the equivalent of a few hours of minimum wage.

@travisblackwell3995

2 жыл бұрын

“ a few hours” lol more like hundreds of hours

@chrisE815

2 жыл бұрын

@@travisblackwell3995 yeah maybe if you live in the third world. Ever heard of a cell phone or Raspberry Pi?

@vicbirth1649

2 жыл бұрын

@@mohi0ne306 Bitcoin isn't really scalable or decentralized. Transaction costs are too high from an inefficient and wasteful consensus mechanism and there are monopolies in mining supply. It is incredible in theory and design. But it doesn't achieve what the whitepaper declared.

Myopic.

He took a long time to say the only thing he could say.

@bp8404

2 жыл бұрын

lol

Michael knowles in bitcoin disguise???

The supply isn’t limited though, as has been proven by additional successful coin, e.g. Ethereum.

@haroldt.5175

2 жыл бұрын

Yeah, can’t you mine crypto too?

@calwhite

2 жыл бұрын

He’s talking about the supply of Bitcoin. There will only ever be 21 Million Bitcoin

@adempc

2 жыл бұрын

Ethereum isn't Bitcoin.

@MagicTheKrakening

2 жыл бұрын

@@calwhite that's a lie, bitcoin has had multiple inflation bugs that introduced BILLIONS to the supply

@peters6454

2 жыл бұрын

@@adempc that’s like saying solar isn’t oil. True, but it still competes for the same use case.

Blockchain can't take off until Bitcoin is gone.

@crazyprayingmantis5596

2 жыл бұрын

Yeah go away Bitcoin

[bitcoin is not inflationary] excuse me for my ignorance but is there a connection to something like an inflation in relation to whales? I don't know much about crypto or stocks but if markets are prone to manipulation, does not fluctuation based on such events make it something like inflation?

literally talks no macro economics, btc is not anti inflammatory, disregards inside trading, market manipulation and how btc is not special in the fact that hedge funds billionaires, corporations and government can manipulate the market to wipe equity from middle class banking on a dream of a code that is supposedly valuable. literally not just for the powerful an reach so please buy more btc an pump our bags. yeh mate btc is gonna change the world save so many poor an working class. in layman's terms make fun of scholars that are warning you an act like a child mocking it's parents like I know better lol all btc is pushing is for sourcing funds and removing paper trails everything is transparent on the Blockchain and if you think there will be a world of decentralized banking when everyone listened to be controlled time an time again your tripping hard.

Bitcoin is antiquated. This guy is naive. Crypto is the future though.

Hes well off the mark this guy.miners create more bitcoin everyday wich means its inflationary regardless of the 21 million limit.big banks and institutions are heavy into btc these days.they can move the price whenever they want.its the most centralised crypto out there

@ericsouthwood172

2 жыл бұрын

Nope

bitcoin IS INFLATONARY!,, because POW is inflationary. bitcoin cannot work without expensive pow.