my big thing with the blockchain is it
can it can literally overthrow America
in China and Russia it’s that powerful
there is people right now who are using
the success of Bitcoin to create these
massive pump and dumps with other crypto
currencies so I think it’s a huge danger
right now what laughing to me is not a
currency it’s an asset people debate it
all the time what’s that belief nation
it’s heaven my one word is believe and I
believe in you I believe you have an
amazing gift inside you that I want to
see exploded onto the world now I made a
video not that long ago around Bitcoin
explaining it trying to share what
different entrepreneurs thought about it
it had a lot of success it got a lot of
feedback and comments and so I thought
I’d continued a series and today share
what Mark Cuban Gary Vee Jordan Belfort
and others think about cryptocurrencies
and advice for you on what you should do
hope you enjoy
you know it’s amazing a lot of my
friends are Millennials and they’ve
never cared about investing but all of a
sudden they are crazy about it with with
Bitcoin with the cryptocurrency right
hasn’t that changed well landscape to me
is not a currency it’s an asset people
debate it all the time and I don’t know
bitcoins the one that survives are these
some of the other ones happen the point
is that is interesting the fact that
they would understand I can buy an asset
I can watch its value change and I can
somehow take value and park it in some
place where I don’t spend it where I
invest it for the future because the
great thing about you know I’m not sure
bitcoins is a great long-term investing
because I don’t know what’s going to
happen to it but I do know a company
that makes free cash flow that pays you
a dividend every quarter to me that is a
good idea
are you invested into blockchain and
Bitcoin so I bought Bitcoin in 2014
such just I just need
I just need all of you to eat that for a
minute okay I love showing my coin base
to people like I put in 25k it’s worth
letting you know
so mogees listen I
I think blockchain is way bigger than
people realize like people are with it
like on a Bitcoin level then let people
a little smarter on the etherium level
but when you understand what the
blockchain is my big thing with the
blockchain is it can it can literally
overthrow America and China and Russia
it’s that powerful it’s a platform of
trust and we can do with each other and
everybody else is out it’s so heady man
I haven’t like I understand it
theoretically I haven’t spent a lot of
time in it right but I’ve been spending
more lately you know there’s a lot of
bull I see OHS get-rich-quick
that’s starting to happen I need all the
dust thank you
I need all the dust to settle a little
bit I’m watching you know my favorite
time is when I’m like the Cobra in the
grass
I loved social media like 2006 7 8 cuz I
was just like creep and I was like in
there I was watching it like that time
with blockchain right now that’s ham
with a are it’s a with voice I’m a
little louder because I was in the grass
two years ago with voice and Alexis
scales and podcasts but now I’m out I
think it’s super fascinating I think
there’s a lot of people that know a lot
more than me which is why I don’t spit
on it a whole lot but it’s big big like
building on top of it building on top of
the theorem and taking advantages
there’s real thing
why sir do you believe it is a fraud
when there are real transactions taking
place that’s we will come to thee we’ll
come to the fact that the volatility in
the price in a moment but real people
are using bitcoins for real transactions
well I think that the labelled Bitcoin
is a throw it like for an umbrella over
the whole thing is not it’s not what I
said what I said is that the problem I
have with the technology blockchain
technology is that the technology is
great but the people who are getting
involved in it right now
so bitcoins already had its big run up
to where it is right now right well
what’s happening is there’s all these
copycat crypto currencies that are going
out there and there’s no regulation on
the on the actual level of Bitcoin
itself you talking yeah this futures
regulation but the underlying asset is
completely young regulates a dark market
and there’s people right now who are
using the success of Bitcoin to create
these massive pumps and dumps with other
crypto currencies so I think it’s a huge
danger right now that people looking at
this is like the next great thing it’s a
bubble for sure and this is the next
stage this is very common that but the
future is now is now stage 3 so next
stage is that you’ll see really
skyrockers it’ll be a short squeeze and
they’ll go even higher and eventually
though it’s gonna come kayvyun it’s
almost a guarantee and the fascinating
part about this I think you would agree
with me is that big a crypto currency
whether it be Bitcoin or one of the
others they will that they are coming
and they will be reputable and they will
be part of the economic landscape in the
future but if I understand you correctly
you’re saying this wild-west early days
is the problem yes well I think there’s
a couple of proximal one right now a
Bitcoin what you have here is is there’s
two parts of the manipulation the first
part is you have to create demand right
massive demand that’s happening right
now versus with via social media every
day I get emails as random emails by
Bitcoin become a millionaire with these
crazy you know promotional ads to
generate interest but at the same time
is limiting supply there’s really not
that much Bitcoin that’s out there so
what’s happening is you’re very limited
supply most of them so you know they
might say the cap the more caps a couple
of your billion but how much is actually
trading out there in the marketplace how
much does it take to per Bitcoin to go
not that
much and that’s why it’s shooting up so
so quickly and what happens is this at a
certain point it has to reverse itself
and it’ll be a short squeeze me once the
futures start people will short it
there’ll be a squeeze as you can’t
deliver it and then it’s just gonna
literally it’s gonna crater and the
average investor is the ones who lose
the money not the professionals right
now you you talk about the short squeeze
and as a result of the futures market if
that’s right and I don’t doubt you’re
alright then the futures market has
performed exactly the role that the CBOE
and others say it will perform which is
to I mean to create a market mechanism
of regulation to the transparency of the
price well to be frank mean their goals
they saw an opportunity to make money
off thing and you know give it to smart
people with with degrees look over the
way to trade a secure that’s anything
look what happen with the mortgage
market maybe that’s a newfangled way to
take what was crap these you know subpar
mortgages and wrap up in something it’s
a it’s great them will trade futures and
futures on future so you’re at that
stage right now where it’s not there is
nothing wrong with trading futures but
here’s the bottom line is that it’s to
be very hard to short these things for a
long time so when you short so you have
enough to buy it back right and that
creates more vying so you have this
skyrocketing demand very little supply
but then at a certain point something
will happen they’ll be either regulation
will pass something will go wrong and
also the settings will change and it is
gonna drop so hard and fast
so that’s on Bitcoin the bigger danger I
think personally is that every day I see
three or four new offerings of doing
Bitcoin number three this will be better
than Big Boi you get rich overnight and
like just today in the CNN makeup room
the the person very nice lady she’s
talking about Bitcoin so this is a
classic villain it’s 2007 when you would
do a mortgage market right your haircut
it was also a mortgage broker almost
everybody’s jumping on I’m sorry in
front of the screen here and we see you
know and they are in that twenty minutes
I’ve been on air it’s already put on
another five hundred bucks
it’s up 19% it’s very difficult for that
for me but everybody who sees this and
thinks this is a way for me to
make some oh I’m gonna say it Jordan
this is a way for me to make quick easy
money listen here’s the bottom line
if you were the most disciplined person
you’re you could really have that this
one to get ending it out this probably a
window a short window to make some money
but that’s not human nature it’s not
psychology people they’ll get in and
they make some money they want to make
more money and these people have a
tendency overall to bubble right
remember in the tulip bubble the
beginning of the end was when they
started trading futures on tulips that’s
how it started to and then with another
move up and then all of a sudden BAM and
collapses and it’s all over
Cantus Bitcoin or aetherium or any of
them big currencies right right and they
can’t be because you can’t transact
right now right but they were truly
occurrences you wouldn’t try to you
wouldn’t try to convert them or value
them based off of other currencies Yeah
right there would just be intrinsic um
and you can only transact I think
there’s three hundred seventy two
thousand transactions I mean I forgot
the exact number but there’s our minute
yeah and our per second whatever it is
whatever it is and now they’re having to
do these segments where they’re
branching off right to try to increase
more and they’re arguing about how to do
it yeah so there’s there’s their own
central bank issues right that’s right
right so it’s gonna be very difficult
for it to be a currency when the time in
the expense of doing a transaction is a
hundred times what you can do over Visa
or MasterCard right right um so that’s
another issue so then what is Bitcoin
etherium what’s our intrinsic value it’s
just it’s a collectible it’s just a
digital asset that’s it’s a collectible
yeah right
and in this particular case is it’s a
brilliant collectible that’s probably
more like art than baseball cards stamps
or coins right because there’s a finite
amount that are gonna be made yeah right
there’s twenty one point nine million
bitcoins that are going to be made and
if enough people hold and don’t sell and
enough people borrow to buy just like we
saw in the stock market because look as
much as a share of stock his ownership
in a company that’s the all-time lie
right you have no authority no one I
throw it yeah unless you’re the
controlling shareholder right or you
were willing to spend a lot to make a
lot of noise do you own any of the other
okay yes so GGO know which one is do you
own I own I own an e TN and Sweden for
Bitcoin sure so there’s a Swedish e TN
because I wanted a little quiddity yes
um and it’s a hassle to try to just buy
it and you’ve got to make an investment
in time and effort to do it I tried it
and it’s paid yeah yeah and I failed
truthfully yeah and to by a small amount
yeah by the time I got my account open
it it moves
that’s not gonna do it even for fun I’m
not gonna don’t like one Bitcoin from
like ten years ago whatever guys right
yeah that’s great now but but yeah I so
I just once once I find
about the CTN as opposed to need TF
obviously right yeah right um it’s
liquid it’s fast it marks to mark it
correctly yes right and so it’s growing
so I like
now I’ve got a special bonus clip of
Peter Schiff with Joe Rogan that I think
you’re going to enjoy but before that my
question of the day is I want to know
what do you think of cryptocurrencies
have you invested in them and which ones
what do you think about them leave it
down comments below I’m really curious
to see what you have to say thank you
guys so much for watching I believe in
you I hope we continue to believe in
yourself and whatever you’re one where
it is much love I’ll see you soon and
enjoy the bonus clip
in Roman times you know you could buy
toga a nice toga for an ounce of gold
right so a man a man could buy what was
clothing back then for an ounce to go
well you can buy a suit of clothes today
a nice suit of clothes for an ounce of
gold so you know prices have kind of
remained relatively constant in certain
things so now years ago I guess some
libertarians and some other people got
the idea you know Krypt fiat currencies
are no good which is true they’re not
backed by anything government’s keep
printing them they got quantitative
easing 0% in trades gold though they
said gold is inefficient right if I got
an ounce of gold I really can’t use it
in commerce I mean I can’t scrape off a
little piece of it and buy a cup of
coffee I can’t send it across the world
and you know and and and conduct in
e-commerce so they came up with someone
came up with a digital currency
initially the first one probably being
Bitcoin which was supposedly replicating
all the properties of gold only
digitally and making it better right so
it’s like you know you mine these
bitcoins right even though there’s no
actual mining you’re solving these math
problems but you can have a Bitcoin I
can give it to you you can give it to me
I can break it in half
intense you know and it’s divisible it’s
you know it’s portable and you know it
doesn’t decay it doesn’t go away right
and so they’re saying hey wait a minute
we can create a digital alternative to
gold and use that people will just use
this and people will just get out of
dollars and they’ll own Bitcoin and then
we’ll just use Bitcoin as money right
and that and the idea is this is gonna
happen but it can’t happen because there
is no value that ultimately Bitcoin has
that can be stored right it become like
gold gold actually has properties that
that you know you can use gold for all
sorts of things people value gold for
the metal nobody values Bitcoin for the
Bitcoin they value it because they
believe that they can exchange it for
something else there’s dollar doesn’t
really represent gold anymore
I know it doesn’t but just because the
dollar is working as money with all the
history of usage and the fact that the
government accept dollars as taxes it’s
legal tender that you have insurance
products that you have rental agreements
that you have bonds you have an entire
global market in in dollars right that
is never going to be able to develop
with Bitcoin or any other cryptocurrency
ultimately the value of a cryptocurrency
is based on the willingness of somebody
else to accept it in exchange for you
know for something else and you know
when Bitcoin first started and people
used to tell me well you know there’s
only 21 million bitcoins right you can’t
have any more than that so therefore
there’s some scarcity but my point was
that well but what stops somebody else
from creating another cryptocurrency
that is identical to Bitcoin or maybe
it’s even better maybe it’s faster maybe
it has properties that maybe it improves
on just like we talked about cellphones
earlier somebody makes a better cell
phone what’s your what’s your old
Motorola phone worth today is nothing
right so if somebody comes up with a
better cryptocurrency then what’s your
Bitcoin worth but you know I don’t think
any of these you know you have like a
thousand of them now the market cap is
about 150 billion for all these crypto
currencies and now there are people that
are saying look you got to buy a bunch
of them you need a portfolio because you
know you’re not sure which one is gonna
win none of them are gonna win they’re
all gonna lose because none of them are
going to work because they there there’s
no store value you know people are not
using bitcoins and nor will they ever
use bitcoins as a real medium of
exchange people use it as a speculative
asset people buy it they hope it’s gonna
go up in value yes can you sell your
bitcoins and then buy something with the
money yes you could do that with any
asset you know people make a big deal
about the fact that my gold companies
ship gold we accept we sail week set
Bitcoin we don’t really accept Bitcoin
right what we accept is dollars but we
make it easy for people to sell their
bitcoins to buy dollars by using a
service called a bit pay but they’re not
actually using their their their uh
their their Bitcoin
they’re using dollars they’re selling
their Bitcoin and then they’re then
they’re trading dollars I mean for
Bitcoin in these little ultimately works
right it’s not going to work because I
mean that is ultimately working you can
use your Bitcoin and you can purchase
gold with a bit no you can you can sell
your Bitcoin to buy dollars and then you
can use the dollars to buy a Bitcoin
which meant nothing is worth dollars no
no you sold it you
look I you sold nothing to get dollars
no need to take those dollars and you
buy bit no you fool you sold something
you so let it it’s just so it’s
something then
but it’s yes but you can sell it today
for value but it might be worthless
tomorrow I mean right now it’s not
because somebody will pay you for it so
that’s real it’s the same thing as a
share of pets calm at one point somebody
would give you a lot of money for that
stock and now they’ll give you nothing
you know it’s all about perception raise
your standard Apple at the core its core
value is that that people passion and
not one drop of most self worth depends
on Europe it’s supposed to mean
I don’t ever give up I’d have to be dead
or absolutely incapacitated hey believe
nation if you want to see my all-time
favorite top ten most a success I have a
very special secret video for you these
are the individual clips that I have
personally learned the most from and
applied to my life and my business check
the link the description for details
can it can literally overthrow America
in China and Russia it’s that powerful
there is people right now who are using
the success of Bitcoin to create these
massive pump and dumps with other crypto
currencies so I think it’s a huge danger
right now what laughing to me is not a
currency it’s an asset people debate it
all the time what’s that belief nation
it’s heaven my one word is believe and I
believe in you I believe you have an
amazing gift inside you that I want to
see exploded onto the world now I made a
video not that long ago around Bitcoin
explaining it trying to share what
different entrepreneurs thought about it
it had a lot of success it got a lot of
feedback and comments and so I thought
I’d continued a series and today share
what Mark Cuban Gary Vee Jordan Belfort
and others think about cryptocurrencies
and advice for you on what you should do
hope you enjoy
you know it’s amazing a lot of my
friends are Millennials and they’ve
never cared about investing but all of a
sudden they are crazy about it with with
Bitcoin with the cryptocurrency right
hasn’t that changed well landscape to me
is not a currency it’s an asset people
debate it all the time and I don’t know
bitcoins the one that survives are these
some of the other ones happen the point
is that is interesting the fact that
they would understand I can buy an asset
I can watch its value change and I can
somehow take value and park it in some
place where I don’t spend it where I
invest it for the future because the
great thing about you know I’m not sure
bitcoins is a great long-term investing
because I don’t know what’s going to
happen to it but I do know a company
that makes free cash flow that pays you
a dividend every quarter to me that is a
good idea
are you invested into blockchain and
Bitcoin so I bought Bitcoin in 2014
such just I just need
I just need all of you to eat that for a
minute okay I love showing my coin base
to people like I put in 25k it’s worth
letting you know
so mogees listen I
I think blockchain is way bigger than
people realize like people are with it
like on a Bitcoin level then let people
a little smarter on the etherium level
but when you understand what the
blockchain is my big thing with the
blockchain is it can it can literally
overthrow America and China and Russia
it’s that powerful it’s a platform of
trust and we can do with each other and
everybody else is out it’s so heady man
I haven’t like I understand it
theoretically I haven’t spent a lot of
time in it right but I’ve been spending
more lately you know there’s a lot of
bull I see OHS get-rich-quick
that’s starting to happen I need all the
dust thank you
I need all the dust to settle a little
bit I’m watching you know my favorite
time is when I’m like the Cobra in the
grass
I loved social media like 2006 7 8 cuz I
was just like creep and I was like in
there I was watching it like that time
with blockchain right now that’s ham
with a are it’s a with voice I’m a
little louder because I was in the grass
two years ago with voice and Alexis
scales and podcasts but now I’m out I
think it’s super fascinating I think
there’s a lot of people that know a lot
more than me which is why I don’t spit
on it a whole lot but it’s big big like
building on top of it building on top of
the theorem and taking advantages
there’s real thing
why sir do you believe it is a fraud
when there are real transactions taking
place that’s we will come to thee we’ll
come to the fact that the volatility in
the price in a moment but real people
are using bitcoins for real transactions
well I think that the labelled Bitcoin
is a throw it like for an umbrella over
the whole thing is not it’s not what I
said what I said is that the problem I
have with the technology blockchain
technology is that the technology is
great but the people who are getting
involved in it right now
so bitcoins already had its big run up
to where it is right now right well
what’s happening is there’s all these
copycat crypto currencies that are going
out there and there’s no regulation on
the on the actual level of Bitcoin
itself you talking yeah this futures
regulation but the underlying asset is
completely young regulates a dark market
and there’s people right now who are
using the success of Bitcoin to create
these massive pumps and dumps with other
crypto currencies so I think it’s a huge
danger right now that people looking at
this is like the next great thing it’s a
bubble for sure and this is the next
stage this is very common that but the
future is now is now stage 3 so next
stage is that you’ll see really
skyrockers it’ll be a short squeeze and
they’ll go even higher and eventually
though it’s gonna come kayvyun it’s
almost a guarantee and the fascinating
part about this I think you would agree
with me is that big a crypto currency
whether it be Bitcoin or one of the
others they will that they are coming
and they will be reputable and they will
be part of the economic landscape in the
future but if I understand you correctly
you’re saying this wild-west early days
is the problem yes well I think there’s
a couple of proximal one right now a
Bitcoin what you have here is is there’s
two parts of the manipulation the first
part is you have to create demand right
massive demand that’s happening right
now versus with via social media every
day I get emails as random emails by
Bitcoin become a millionaire with these
crazy you know promotional ads to
generate interest but at the same time
is limiting supply there’s really not
that much Bitcoin that’s out there so
what’s happening is you’re very limited
supply most of them so you know they
might say the cap the more caps a couple
of your billion but how much is actually
trading out there in the marketplace how
much does it take to per Bitcoin to go
not that
much and that’s why it’s shooting up so
so quickly and what happens is this at a
certain point it has to reverse itself
and it’ll be a short squeeze me once the
futures start people will short it
there’ll be a squeeze as you can’t
deliver it and then it’s just gonna
literally it’s gonna crater and the
average investor is the ones who lose
the money not the professionals right
now you you talk about the short squeeze
and as a result of the futures market if
that’s right and I don’t doubt you’re
alright then the futures market has
performed exactly the role that the CBOE
and others say it will perform which is
to I mean to create a market mechanism
of regulation to the transparency of the
price well to be frank mean their goals
they saw an opportunity to make money
off thing and you know give it to smart
people with with degrees look over the
way to trade a secure that’s anything
look what happen with the mortgage
market maybe that’s a newfangled way to
take what was crap these you know subpar
mortgages and wrap up in something it’s
a it’s great them will trade futures and
futures on future so you’re at that
stage right now where it’s not there is
nothing wrong with trading futures but
here’s the bottom line is that it’s to
be very hard to short these things for a
long time so when you short so you have
enough to buy it back right and that
creates more vying so you have this
skyrocketing demand very little supply
but then at a certain point something
will happen they’ll be either regulation
will pass something will go wrong and
also the settings will change and it is
gonna drop so hard and fast
so that’s on Bitcoin the bigger danger I
think personally is that every day I see
three or four new offerings of doing
Bitcoin number three this will be better
than Big Boi you get rich overnight and
like just today in the CNN makeup room
the the person very nice lady she’s
talking about Bitcoin so this is a
classic villain it’s 2007 when you would
do a mortgage market right your haircut
it was also a mortgage broker almost
everybody’s jumping on I’m sorry in
front of the screen here and we see you
know and they are in that twenty minutes
I’ve been on air it’s already put on
another five hundred bucks
it’s up 19% it’s very difficult for that
for me but everybody who sees this and
thinks this is a way for me to
make some oh I’m gonna say it Jordan
this is a way for me to make quick easy
money listen here’s the bottom line
if you were the most disciplined person
you’re you could really have that this
one to get ending it out this probably a
window a short window to make some money
but that’s not human nature it’s not
psychology people they’ll get in and
they make some money they want to make
more money and these people have a
tendency overall to bubble right
remember in the tulip bubble the
beginning of the end was when they
started trading futures on tulips that’s
how it started to and then with another
move up and then all of a sudden BAM and
collapses and it’s all over
Cantus Bitcoin or aetherium or any of
them big currencies right right and they
can’t be because you can’t transact
right now right but they were truly
occurrences you wouldn’t try to you
wouldn’t try to convert them or value
them based off of other currencies Yeah
right there would just be intrinsic um
and you can only transact I think
there’s three hundred seventy two
thousand transactions I mean I forgot
the exact number but there’s our minute
yeah and our per second whatever it is
whatever it is and now they’re having to
do these segments where they’re
branching off right to try to increase
more and they’re arguing about how to do
it yeah so there’s there’s their own
central bank issues right that’s right
right so it’s gonna be very difficult
for it to be a currency when the time in
the expense of doing a transaction is a
hundred times what you can do over Visa
or MasterCard right right um so that’s
another issue so then what is Bitcoin
etherium what’s our intrinsic value it’s
just it’s a collectible it’s just a
digital asset that’s it’s a collectible
yeah right
and in this particular case is it’s a
brilliant collectible that’s probably
more like art than baseball cards stamps
or coins right because there’s a finite
amount that are gonna be made yeah right
there’s twenty one point nine million
bitcoins that are going to be made and
if enough people hold and don’t sell and
enough people borrow to buy just like we
saw in the stock market because look as
much as a share of stock his ownership
in a company that’s the all-time lie
right you have no authority no one I
throw it yeah unless you’re the
controlling shareholder right or you
were willing to spend a lot to make a
lot of noise do you own any of the other
okay yes so GGO know which one is do you
own I own I own an e TN and Sweden for
Bitcoin sure so there’s a Swedish e TN
because I wanted a little quiddity yes
um and it’s a hassle to try to just buy
it and you’ve got to make an investment
in time and effort to do it I tried it
and it’s paid yeah yeah and I failed
truthfully yeah and to by a small amount
yeah by the time I got my account open
it it moves
that’s not gonna do it even for fun I’m
not gonna don’t like one Bitcoin from
like ten years ago whatever guys right
yeah that’s great now but but yeah I so
I just once once I find
about the CTN as opposed to need TF
obviously right yeah right um it’s
liquid it’s fast it marks to mark it
correctly yes right and so it’s growing
so I like
now I’ve got a special bonus clip of
Peter Schiff with Joe Rogan that I think
you’re going to enjoy but before that my
question of the day is I want to know
what do you think of cryptocurrencies
have you invested in them and which ones
what do you think about them leave it
down comments below I’m really curious
to see what you have to say thank you
guys so much for watching I believe in
you I hope we continue to believe in
yourself and whatever you’re one where
it is much love I’ll see you soon and
enjoy the bonus clip
in Roman times you know you could buy
toga a nice toga for an ounce of gold
right so a man a man could buy what was
clothing back then for an ounce to go
well you can buy a suit of clothes today
a nice suit of clothes for an ounce of
gold so you know prices have kind of
remained relatively constant in certain
things so now years ago I guess some
libertarians and some other people got
the idea you know Krypt fiat currencies
are no good which is true they’re not
backed by anything government’s keep
printing them they got quantitative
easing 0% in trades gold though they
said gold is inefficient right if I got
an ounce of gold I really can’t use it
in commerce I mean I can’t scrape off a
little piece of it and buy a cup of
coffee I can’t send it across the world
and you know and and and conduct in
e-commerce so they came up with someone
came up with a digital currency
initially the first one probably being
Bitcoin which was supposedly replicating
all the properties of gold only
digitally and making it better right so
it’s like you know you mine these
bitcoins right even though there’s no
actual mining you’re solving these math
problems but you can have a Bitcoin I
can give it to you you can give it to me
I can break it in half
intense you know and it’s divisible it’s
you know it’s portable and you know it
doesn’t decay it doesn’t go away right
and so they’re saying hey wait a minute
we can create a digital alternative to
gold and use that people will just use
this and people will just get out of
dollars and they’ll own Bitcoin and then
we’ll just use Bitcoin as money right
and that and the idea is this is gonna
happen but it can’t happen because there
is no value that ultimately Bitcoin has
that can be stored right it become like
gold gold actually has properties that
that you know you can use gold for all
sorts of things people value gold for
the metal nobody values Bitcoin for the
Bitcoin they value it because they
believe that they can exchange it for
something else there’s dollar doesn’t
really represent gold anymore
I know it doesn’t but just because the
dollar is working as money with all the
history of usage and the fact that the
government accept dollars as taxes it’s
legal tender that you have insurance
products that you have rental agreements
that you have bonds you have an entire
global market in in dollars right that
is never going to be able to develop
with Bitcoin or any other cryptocurrency
ultimately the value of a cryptocurrency
is based on the willingness of somebody
else to accept it in exchange for you
know for something else and you know
when Bitcoin first started and people
used to tell me well you know there’s
only 21 million bitcoins right you can’t
have any more than that so therefore
there’s some scarcity but my point was
that well but what stops somebody else
from creating another cryptocurrency
that is identical to Bitcoin or maybe
it’s even better maybe it’s faster maybe
it has properties that maybe it improves
on just like we talked about cellphones
earlier somebody makes a better cell
phone what’s your what’s your old
Motorola phone worth today is nothing
right so if somebody comes up with a
better cryptocurrency then what’s your
Bitcoin worth but you know I don’t think
any of these you know you have like a
thousand of them now the market cap is
about 150 billion for all these crypto
currencies and now there are people that
are saying look you got to buy a bunch
of them you need a portfolio because you
know you’re not sure which one is gonna
win none of them are gonna win they’re
all gonna lose because none of them are
going to work because they there there’s
no store value you know people are not
using bitcoins and nor will they ever
use bitcoins as a real medium of
exchange people use it as a speculative
asset people buy it they hope it’s gonna
go up in value yes can you sell your
bitcoins and then buy something with the
money yes you could do that with any
asset you know people make a big deal
about the fact that my gold companies
ship gold we accept we sail week set
Bitcoin we don’t really accept Bitcoin
right what we accept is dollars but we
make it easy for people to sell their
bitcoins to buy dollars by using a
service called a bit pay but they’re not
actually using their their their uh
their their Bitcoin
they’re using dollars they’re selling
their Bitcoin and then they’re then
they’re trading dollars I mean for
Bitcoin in these little ultimately works
right it’s not going to work because I
mean that is ultimately working you can
use your Bitcoin and you can purchase
gold with a bit no you can you can sell
your Bitcoin to buy dollars and then you
can use the dollars to buy a Bitcoin
which meant nothing is worth dollars no
no you sold it you
look I you sold nothing to get dollars
no need to take those dollars and you
buy bit no you fool you sold something
you so let it it’s just so it’s
something then
but it’s yes but you can sell it today
for value but it might be worthless
tomorrow I mean right now it’s not
because somebody will pay you for it so
that’s real it’s the same thing as a
share of pets calm at one point somebody
would give you a lot of money for that
stock and now they’ll give you nothing
you know it’s all about perception raise
your standard Apple at the core its core
value is that that people passion and
not one drop of most self worth depends
on Europe it’s supposed to mean
I don’t ever give up I’d have to be dead
or absolutely incapacitated hey believe
nation if you want to see my all-time
favorite top ten most a success I have a
very special secret video for you these
are the individual clips that I have
personally learned the most from and
applied to my life and my business check
the link the description for details
Please follow and like us: