Bitcoin Q&A: How much bitcoin do you have?


[AUDIENCE] I am a novice in
all of this cryptocurrency stuff. [ANDREAS] Welcome! [AUDIENCE] It is interesting to hear what you are saying.
Clearly you are a huge believer [in Bitcoin]. My question is, what percentage of your
wealth is tied up in bitcoin? [Laughter] And what percentage of our wealth
should be tied up in bitcoin? [ANDREAS] The answer to [each of]
those questions is very different. What percentage of your wealth should be in bitcoin?
[AUDIENCE] That was my second question. [Laughter] [ANDREAS] A percentage that is equivalent to your
understanding of how the technology works, and your ability to absorb the risk that it entails;
for most people, that is a very small percentage. To your first question, what percentage
of my wealth is invested in bitcoin. I think using the word “wealth” is… [Laughter] a bit of
an exaggeration. I did this job for free for two years. I am still digging out of the hole of debt
that created. [It is] not really wealth, but my small savings are 100% invested in bitcoin. I actually have a tiny bit of debt in dollars that I am still
trying to pay off, so it is more than 100% in bitcoin. [Laughter] [Applause] I would like to emphasize, again, that this is
not a recommendation [for others] to invest! I haven’t invested my money in bitcoin, I have invested
my career, my intellectual capacity, my creative energy, my passion, and my work in Bitcoin. The money is the [smallest] investment I made.
I could lose all of it and still have everything else. You should invest as little as you are willing to lose in a
very volatile market. That may mean five quid per week. A very good piece of advice, which I’ve heard from many
people, is to dedicate two cups of Starbucks a week, or one pack of cigarettes. Take something [away] from a negative
habit, and put that [money] into bitcoin. Just to play around, see how it works, experience it, use
some wallets, do some transactions, see if you like it. [AUDIENCE] Should the percentage depend on which
country you live in, volatility of [the national currency]? [ANDREAS] Absolutely, it depends on which country you
are in. [Now], I’m talking primarily for this audience. But if you are in Argentina, any percentage of wealth you
put in bitcoin did far better than [your national currency], every single year in the last seven years. Even in the worst years of bitcoin, somehow
Argentina’s economy was doing worse. [Laughter] That applies to Zimbabwe, Venezuela,
and a whole bunch of other places. If your country is experiencing 45% inflation [per month], the crazy volatility [in bitcoin] seems
like a rock-solid investment. [Laughter]

37 thoughts on “Bitcoin Q&A: How much bitcoin do you have?”

  1. He lowered the volume of the outro music! aantonop, may Kek's praise be upon you and your family for a hundred halvenings!

  2. I just what to thank you for all you do and all that you teach. You are one of the worlds foremost experts (in my opinion) and you teach in simple language that all can understand and absorb.

  3. 🤝 Thanks for this useful video about #bitcoin 🎬
    💡 Don't spare your like for it and leave a comment cause it is a free link to your YouTube channel 📺

  4. The full block chain size is currently roughly 145GB, I can handle such a download in a laptop or a desktop pc but how does it work on a mobile? I can not download such an amount of data into my phone, so I guess there is an intermediary when using the mobile app?

  5. you would love Colombia never any inflation 7 beautiful woman for every male, and everything is cheap and wonderful in Colombiafacts

  6. You're the best,andreas. I'm new to the space & it blows my mind how much knowledge you've given. Truly awesome,thank you

  7. i lived in argentina for 8 years and i exactly know what you are talking about Andreas. luckily i had a business dealing with tourism so i was actually favoured by the depreciation of the peso in a way. but when i was there (2002-2010) the peso was also more "stable" lol

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