Is Cryptocurrency The Future of Money?

alright what's up my brothers from another mother good morning good evening good afternoon where if you're watching this from it's currently December the 19th I got in the office early again this morning so I wanted to do another video on blockchain and cryptocurrency you guys know that I've been applying the red pill lens to quite a bit of stuff in inter gender relationships in the last couple years because I like to see the world as it truly is and when I go down the rabbit hole I tend to go down deep and far to kind of explain things and make myself more aware and of course those of you that have watched my stuff I know a lot of you guys have got a ton of value out of the last year or so and I'm not gonna change uploading those sorts of videos and answering questions in that space but I want to apply that same red pill lens to money blockchain technology and of course cryptocurrency so last week I did a video was received quite well I'm gonna try to get this out in about 10 or 15 minutes just to kind of update you want a few new things that I've come across that I think you'll find some use in let's start actually let me minimize this over here and go to so the video last week got a ton of comments thank you for the feedback I appreciate what everybody has said let's go to coin market cap here last week when I did the video market cap was I think it was about five and a quarter billion dollars and a lot of people in the comments actually about half of the people when I did a survey on the page let me see if I can grab it here community tab so on this tab over here I I don't think you guys could see this because I try to check the results but most people don't get crypto currencies about 73 percent say it's either a bubbler scam or they're sitting on the on the sidelines because they don't get it so that was the actual result of that that I put up with six days ago got almost two thousand replies on it so I'd say that's a fairly accurate representation of what people's understanding is by the way smash the subscribe button and the notification bell so you don't miss out on any new videos and also on the community timeline feed so you can participate in stuff like that so going back over here most people are still out of the market the readers sitting on the sidelines there's you know they're saying it's a scam yet it continues to grow I mean it grew close to 75 80 you know billion dollars in the course of a week which is you know it might sound like a lot it might sound like a bubble but it really isn't it I'll explain in a second I'm just gonna kind of scroll across the top here when my tabs I want to share some useful tools and resources that I think you should check out this video here has been recommended to me by quite a few of my friends they're heavily involved in a cryptocurrency space Andreas Antonopoulos he's not a guy that advocates buying certain coins or trading them or anything like that he's more about the technology and what opportunities lie ahead in the future the thing about the technology is it is so useful and so broad when it comes to blockchain you can use it for things like ensuring that disaster relief money gets to the people that actually need it rather than the companies that scrape off like 80% of it you can use it for things like voting to get more people you know voting for you know better politicians and policies and things like that so it it goes well beyond just you know money or the storage of money so check out his youtube channel it's a AMT and Walt's right there you can just look it up but it's Andreas Antonopoulos guys really well-spoken and he breaks it down in simple terms that even a pleb like I can completely understand all right moving on I shared something like this I think it was this image on my Instagram page it's entrepreneurs underscore in underscore cars if you want to follow me there but I just wanted to pull this up it's a purchasing power of the US dollar over time and this graphic here beautifully illustrates it so just go back over here this is paper money this is what is supposed to make the world go around on this Canadian $20 bill we've got the Queen who doesn't look very happy that's kind of a little bit of a bitchy resting face I suppose but I wouldn't be happy either if this was worth less over time I could take this fold it up put it under my mattress and next year it's buying power is less and it's by design you know central bank's government they they basically design it that way to keep us spending money on dumb shit because if we hold on to it it loses value so it's why they try to encourage you to either blow it or they create these ridiculous investment you know products bonds GIC is just these you know bullshit riff-raff type of products that really don't serve you know humanity that well let me just minimize this and i go back to the chart and explain what's happened here so since paper money was introduced and it's been around for a while like let's be honest here most people don't know this but most people would have carried around little bags of coins gold and silver coins copper coins things like that and rather than carrying around heavy bags of coins they decided to issue paper money so somebody would of course go into a bank and they would exchange their bag of coins here you go and they would say here take this paper money and it's a note and they would walk around with it they would buy stuff with it they would get change in exchange with paper money so comes with problems of course it D values over the time it's easy to counterfeit it comes with a whole slew of problems but the thing is is that the government controls it gets fiat currency paper money is fiat currency it's not even paper anymore it's more plastic and rubbery now but that's what it is so over time its buying power completely you know diminishes and I'll explain why in just one second but they were there are two big instances over time is 1933 we're first slightly got disconnected from gold but it really got slapped when Nixon in 1971 it was called closing the gold window we're essentially in the past prior to that they had to have a certain amount of gold on deposit and they would only print money that was of a equivalent value to the gold then in 1971 you know they basically had economic problems so they said well we'll just invent new laws it will solve that lets unpin it from the gold we have on deposit and print whatever the fuck we want whenever we want so now today when there's problems you know they just go hey Tony pant you know print up some more paper and you know they bring out stacks of this shit and they put it in the economy and supposed to stimulate things so that's the purchasing power of pay for money over time it just doesn't go up it doesn't it doesn't have a lot of value to hold it which is not the point of it it's really designed as a medium of exchange and it works well last night for example I was at a took my team out for dinner and we went axe-throwing and just for giggles when we went to the counter and I paid for the events I said to the guy kind of paying Bitcoin and he said no I said well how do you accept payment he said well it's on tablet and it's linked to a Shopify store and I can't remember what the credit-card processing unit was but anyway it was linked to a credit card so it's not that effective as a means of buying power currently not that you can't buy stuff with it it's just not that effective it's not an adopted mainstream which is why I still believe Kryptos have a vertical or parabolic growth curve that's going to happen for another six to twelve months oh I wanted to show you one more thing here so there's one on here that compared circulation versus buying power I don't think it's in this chart I might have lost it but it essentially looks something like this the buying power of the US dollar goes down and then the amount that's that's printed and goes into circulation goes up so as you print more of it it devalues the paper money so I wanted to go over this over here to kind of put it in perspective this is kind of a a graphic or an infographic that was created back in July this is one of the things that really drew my attention to cryptocurrency and I you know kicking myself in the butt for not getting into it back in the summertime but you know hindsight's always 20/20 so at the time Bitcoin had a market cap of 41 billion and where are we right now Bitcoin is at three hundred and six so it's grown significantly since the summertime and it's got a lot of room to grow and this graphic will explain why this is not to scale so this little dot over here is not to scale because gold over here is is 200 200 times market cap of Bitcoin for example at this time so that bubble would be massive but to put it in perspective Apple for example so one company listed on the stock exchanges that has seven hundred and thirty billion dollars in cash I think it's sitting in Ireland they don't they don't want to bring it in North America because they're gonna get taxed on it but there's but they're sitting at seven hundred thirty billion dollars so one company in itself has more monetary value where did the crypto page go then Bitcoin itself you know the entire market is 600 billion Apple is what was a 700 700 billion sorry 730 billion it's probably gone up you know since then for them but it placed such a tiny tiny role in the market place and where people have been shoving money now the reason why it's been going vertical and been going parabolic is because more people are getting are taking notice of it it's an excellent store of value if you were to compare how well well actually there's a really good way to compare crypto store value to paper money because there's a coin called tether tether is a very interesting point it's almost always one point zero zero so they've got to make an adjustment here but if you go to the website let's just open this up here tether is a crypto currency that they created basically for payment processing it's almost like a credit card interacts sort of thing but it's pinned to the value of the US dollar so it's a hundred percent backed one-to-one by traditional currency held by bankers so one u.s. dollar is always equivalent to one tether so going back over here if we go to this chart so this green line over here over time you can see it's pretty consistent and this over here is the price to one US dollar so above is you know plus you know one a dollar and three cents or whatever let's say like over here it's a dollar to cents 99 cents you can see it kind of bounces up up and down a little bit but they have to correct it to pin it one to one to the dollar this line over here is a price of a Bitcoin so the value of teather since they launched it as I slide this across here over time you can see its purchasing power versus Bitcoin stinks and that's essentially what paper money is to cryptocurrency it sucks it doesn't store value very well it doesn't go up in value cryptocurrency does though if I go back to coin base here by the way guys I put a link because those of you that we're asking about how do I get in where do I get started I still think this is one of the easiest places to get started if you want to buy into the market you just basically oh there's a there's a link below in the description if you click the link and buy $100 u.s. in crypto you'll get ten dollars in Bitcoin for free so will i if it's Canadian you left spend up at 128 or but I think it's 130 and then we'll both get $10 worth of Bitcoin for free so use that link if you want to get started somewhere but this is the graph here of Bitcoin over the course of one year it's up two thousand percent a theorem is another interesting coin which incorporates smart contracts which allows for transactions to happen along with the currency and like coins very very similar to Bitcoin but it actually has a lot of advantages it's a lot faster that the cost to transact to send money is also a lot cheaper too so you can see this is done very very well in the last year and again a lot of people go it's a bubble sure it looks like a bubble but let me go back to where does the market thing here that's so many bubble things here open I'm gonna start closing some of these to make room andreas the hair it is okay so again lots and lots and lots of space to grow we're only at 600 billion and Apple as a company has more money in cash than the entire market combined right now and yes there's 1369 coins most of them are absolutely garbage they really are there's only a handful that will be brought forward in future you know I don't have a crystal ball a lot of guys asked for predictions and what he thinks gonna happen and I even had a coaching call last week with somebody that wanted to get some more insight from me but I don't have a crystal ball nobody does anybody that claims that they can tell you what things are gonna look like in the future is a liar they're selling you some shit it's snake oil so you know use your intuition use your senses use your wits about you watch out for scams Ponzi schemes by the way there's a few them on the blockchain right now let me just find the one that really is stands out the most is bit connect I've mentioned this before boat to YouTube watch videos on bit connect and you'll see why it's a scam they guarantee a return and the very definition of a Ponzi scheme is guaranteeing a rate of return it's not possible you can't do it these things will collapse so stay away from anything that's guaranteeing you a steady rate of return not a good thing alright let's close up tether let's close up Andre us over here we're done with coinbase Oh some of you did ask me how to fund or sell because coinbase does not let you sell in Canada I know you can't in the US I heard the features coming in the future but you'll need to open up a quadriga account if you're in Canada again link for that below so it's pretty straightforward to set up but you'll be able to fund the account and connect it to your bank account when you want add a trade if you want to get into more complex things like trading what are known as the shit coins all of these you know down over here you'll probably want to open up something like bit tricks which is a little more complicated so let me go down here like verge is a coin that I like that I just bought last week it's done pretty good or is it surrounded of 20s here it is so this one here so if you find a coin here on coin market cap and you want to learn more about it you're gonna go to markets on the tab over here and it'll tell you which markets trade it you want to find a market that has good volume so you can load alone load and unload the coin fairly easily and again don't ask me for any kind of investment advice or why educate yourself all you have to do is click the website all the links are there it tells you exactly what the coin is about and why it might be useful I find YouTube very fairly useful as well because there's some good channels out there which I mentioned in the last video which kind of break down these up-and-coming ones that might have some potential impact in the future this one here is basically a super-fast coin that can be used for anonymous or non anonymous transactions it's decentralized which is what you want you don't want any kind of cryptocurrency that's in a centralized place so like tether for example I believe would be centralized because it has to be pinned to the US dollar you want to avoid those because I mean the whole reason why the blockchain was created because people got so frustrated and fed up with the way that the banking system has been working and the way the government you know treats people and manipulates things you know somebody said to me last week or I think was a tweet and it was something along the lines of bitcoins the real Occupy Wall Street so all these people that are like camp or have camped out on Wall Street you know March with signs and shit like that if you want to vote if you want to send a message vote with your decision-making power in your wallet cryptocurrency is where you want to go if you want to show the banks and government and credit card companies what you think of their policies and procedures there's nothing I don't think that can really slow this down or stop it they're probably going to legislate and regulate it like they'll find ways to tax people and put in regulations at choke choke points which will be the exchanges so when you want to buy and sell and move it around that's one of the problems with it you know that in the safety issues of theft oh by the way you guys asked me in the last video what I use for storing my crypto it's called a nano ledger it looks like that I don't know if you can read that there you go there's a link in the description below as well and in the pin comment and it looks very similar to a USB it's got a digital kind of screen so when you plug it in there's two buttons on the top and what I do is I store my cryptocurrency on this device a lot of coins you can't stop sorry a lot of the altcoins so the shit coins you can't store on here just because they don't have it set up nor did it go right over here minimize that sorry guys I'm getting used to doing things this way so most of these thirteen hundred and sixty nine coins you can't store on here I think that's probably about 20 maybe 25 or so so the main ones you can put on here but you don't want to leave your crypto on wallets because it's centralized the reason why they create stuff like this is you connect it to the blockchain you get your coins you store your private keys on here it's yours nobody can steal it theft happens in centralized locations that it happens on exchanges so where people are buying and selling crypto and they leave there are coins there it can happen on places like even coin base if you leave too much money on there but you know a couple hundred bucks isn't that big a deal but if you've accumulated some wealth in crypto keep it on something like these these are super cheap I think it's about sixty odd dollars on Amazon again the link is in the description below if you want to get one of these and store your crypto on it it is a is the safest way to do it this is disconnected from the network nobody can steal this shit if you leave your money on an exchange they can steal it that's why you hear about theft and hacking and stuff like that which is one of the things that prevented me from getting into Bitcoin or crypto in the past but again you know hindsight is always 2020 you always come to learn these things afterwards applying the red pill lines to all this sort of stuff where do we go in here so I mentioned quadriga because you guys asked me about that this is this is another interesting story like you'll see stories like this pop up there's a guy that was apparently arrested for selling Chucky Cheese tokens as Bitcoin you know take take stuff with a grain of salt when it comes to the news and you know stuff that's all out there educate yourself open your eyes I've given you some really good resources here in this video and I try to answer some of the questions that you guys asked me in the past again I'm not an expert I'm the furthest thing from an expert I've I've pointed to some incredibly smart people in this video and the last one I've also provided you some links which I think you'll get some value out of if you want to begin coin base is a good place to start if you're in Canada quadriga is where you can fund your accounts or sell your crypto if you want to convert them back to fiat currency this nonsense but it's a good store of value and I think it's going to continue to be a good store value I wouldn't be surprised if the entire coin market cap by next week or let's say by the end of the month you know it's currently the 19th is 700 billion and we're coming up on a trillion have we earned it probably not you know but there's a whole lot of promise and what we're looking at here and the technology the underlying technology of what we're looking at here is just this it's great so I mean look at just look at what's going on use your you know use your head think clearly when you're making these purchases and I guess last last but not least don't put anything into this that you can't afford to lose that you're not going to lose sleep over at night but start you know just starting well get your feet wet you'll get an understanding of how the markets work what moves them when they go up and down it just it just gets you to understand one of the things that I found incredibly frustrating myself and and and actually frightening was the length of time that it takes to transact this will be the last thing that I'll leave before I wrap up was the length of time that it takes to transact so on quadriga which I pointed out over here I transferred money in I bought some Bitcoin and then I transferred the Bitcoin to an exchange to buy what's called the shit coins verge which was the one that I mentioned before the one that I liked and from the time that I hit submit to send the payment from my quadriga wallet to the exchange wallet literally took about 45 minutes the network is working well at relative capacity for Bitcoin it's not it's it's a really good store of value but it doesn't move very fast so from the time that I hit send to the time that it was received because you know you hit Send and it says sent and then you wait and you hit refresh and you hit refresh for five minutes and in ten minutes and 15 minutes and it's still not there and you're like where the fuck did my money goes it's still there is it connect is it gonna get there so it's it's it's very uncomfortable to push buttons to move what you work really hard for to move around but when you understand the underlying technology behind it and why it's so incredibly safe and how hard it is to hack the blockchain I mean to put it in perspective it costs you more money to hack the blockchain than the value of any currency you could get out of the blockchain and I think it would take at least 20 minutes for me to explain it I probably screw it up but that's my understanding watching Andreas Antonopoulos videos so I'll leave it at that with today's video leave a comment below again there's some links in the description for some useful stuff if you want to get started coinbase quadriga and larger larger ledger nano I hope you enjoyed today's video if you have any recommendations or suggestions leave them in the comments below and help the community help the community grow what else can I say if you want to support the creation of the work on this channel for red pill awareness go become a patreon link is always in the description below there's a number of tiers rewards you can join the private Facebook community where we talk about a lot of stuff not you know not just women or money or you know becoming a better version self or strength training or anything like that there's those areas there's the areas of the private Q&A is that I do for my patreon and the once a month piece of premium content which goes very very deep and revealing on a particular subject which my guys have gotten a ton of value out of I also have a coaching client on the top tier I'm helping him grow his business so if that's something that interests you link is also in the description thanks for checking out today's video I hope you have an amazing one we'll see in the next one pace you

45 thoughts on “Is Cryptocurrency The Future of Money?”

  1. Here is my take on BITCOIN……

    It's about trust and confidence. Bitcoin have been running smoothly for roughly 9 years without any hiccup . Even if other more recent coins have more modern technology architecture, people will go with the one which is proven most stable and has the largest user base. Think I phone ( best operating system / first smart phone ) vs other smart phones … Levis jeans ( best quality / first jeans ) vs copy cats….

    Lighting Network ( LN ) will finish off the competition much improved speed and cost for transactions . Think BITCOIN 2.0 the new and improved version , ALT coins are after all just copy cats ….

    Also I hate how people say it takes so much electric power to create BITCOINS , well how much energy does it take to mine GOLD ??? is the question I ask …. A LOT , yeah that's right use your GOD given brain once in a while…..

    In it's inception it was 15c or so now 14.000 US pretty damn good investment I would say and remember BITCOIN is just in it's infancy . If you invested 100 dollars in 2010 into BITCOIN your net worth would be over 100 million dollars US now , insane but true… never before in history has something created such EXTREME wealth , and this is just the beginning….

    Now let's look at the US dollar FIAT currency , roughly 250 TRILLION in debt with future obligations they lie it's not 20 TRILLION , who the HELL is going to pay for this NO ONE , devalued daily , printed endlessly , I think BITCOIN is a much better investment long term think RARE like GOLD limited in supply only 21 million or so can ever be mined , NOT devalued daily doing the opposite going up daily , sure dips and valleys but going up and up …. profit taking in between to be expected but in the end going up…..and up ….

    BTW BITCOIN is now the 6th largest currency in the WORLD , you read that right …. and
    remember it's just in it's INFANCY …. even micro bits will server you well in the future.

  2. The funny thing in this is that there is always 2 sides to a trade. And the opposite side to a bitcoin trade is (predominantly) USD. It's value resides in the value of the USD not in the value of the transaction. Yes of course people are going to make huge money out of Bitcoin (in this example) but an equal amount will be lost. It's a function of the transaction and it's being driven by only 2 of the 3 drivers of any market Fear and Greed. What's missing at the moment is the 3rd one: Need. But that's where all the dialogue should be.

  3. The Crypto Currencies we have at the moment are commodities not currencies. The 'idea' and rational transactional benefits of crypto are clear but without anything to 'tie' to as a value basis they become too volatile. Think of what happens to any currency that becomes to volatile to function, they become worthless as functional currencies. Remember the Argentinian pesos? From 1979 to 1990 it averaged 300%pa inflation and in 1989 it hit 1000%. It effectively became worthless for transactions.

  4. In a few years, all those on the sidelines will regret they didn't get in, this is the modern era's gold rush/internet boom.

  5. Crypto won't be a currency until governments give up control of currency, and that is the very last thing they will ever do. That is most likely a very long way away. I'm a voluntaryist, so I hate gov control of currency, I'm just trying to be realistic. I'm basically saying that true decentralized crypto will be national or global currency when we have a voluntaryist society. I hope this happens in 5 years, but again, I'm trying to be realistic.

  6. Richard, you've become like a virtual buddy over the last year. What about when the time comes to actually buy things (cars, houses, etc) with crypto? Are we there yet??? Thanks

  7. awesome video man !!! so glad you jumped in the HODLERS pool! hope to see more vids like this and your opinion on some cryptos out there

  8. Crypto is another bubble, which (by definition) means there is no predicting its rise. Just look at a chart. It's undeniable. If you think the central banks of the world will accept a competitor to their currencies, you are truly naive. Ask the precious metal folks. I'm not saying you cannot make money in crypto. But remember bubbles always go the same way: early money (already happened), institutional and/or hot money (already happened)…and then the masses (happening now). You're welcome.

  9. Nobody has ever redeemed a Tether ever. Tethers value is maybe 1USD (probably not) they have never been audited. TETHER IS A SCAM

  10. I would read between the lines on that one:
    South Korea Considers Shuttering Bitcoin Exchanges in Crackdown on Cryptocurrency Trading
    Investor frenzy has worried the country's authorities, who are concerned about growing speculation-and the risk investors could lose money from sharp price declines or from cyber attacks on digital currency exchanges.

  11. New subscriber, I like a lot of you videos but I have to correct you about Bitconnect. Bitconnect does not guarantee any daily return whatsoever. I will say that again – Bitconnect DOES NOT guarantee any daily return whatsoever. With the lending platform, the daily return is a range of 0-2%. There are days of 0% interest return. There are days of 1.95% return.

  12. If you want to gamble on bit coin, and that's what it is at this point gambling just wait because it's coming all the way back to $5000 us dollars

  13. Why is it that my bank accounts were blocked because I found out that my institute told me these are scams 🤔 when I tried to do transactions for cryptocurrecy?

  14. Mr. Cooper. I'm the guy from Windsor Ontario that told you about Aphria Cannabis stock oh say a year and a half ago. Buy in was about $1.50 per share. It is currently at say $15 a share. You explaind to me how it was not a good buy since it didn't make money. You should be kicking yourself in the ass for not buying that stock instead of fucking around with bitcoin. Just sayin.

  15. Hey there Im in Australia, Coinbase only offers 4 crypto's from what I can see – can I buy Verge on it?

  16. Yeah there is no gold in fort knox. Fiat is based upon collective faith. The last time we had this energy around, entire financial, economic and governmental systems were restructured. 2-3 years from now, commerce will look completely different than it does now. I appreciate that the alternative currency is redefining such measures of trade, but I could see blockchain technology becoming exploited like everything else the free market creates through innovation, and subsequently used as a means to control.

  17. So, what do you all think, which dating apps are best for entrepreneurs/red pilled men? I can't seem to find a proper girl.

  18. They're saying the power to maintain cryptocurrency is eating up the power for 2-3 nuclear power plants. Paul Krugman just came out & said it was a bubble as well just recently. He says we're all waiting for the Wile E. Coyote moment where someone is going to be left holding the bag & everyone thinks it's not going to be them!!!

    The total amount of power consumed to make this work is a complete waste of energy. All its worth is the amount it costs to pay the electric bill & maintain the gear for the encryption.

    I think the most interesting point of this entire phenomenon is the fact that everyone is ignoring the experts, telling them that they don't know jack shit, & plowing on ahead into the scam being willfully blind to one side of the argument.

    Why is it a scam? Because it's not a currency for one thing. If one guy buys in at a lower price at Time X, later at Time X+Y another guy buys in, he has to pay more & the First Guy (El Ponzi) gets the most out of it. Blockchain tech & the theory of cryptocurrency are entirely different things when it comes to the price of bitcoin & the other cryptocurrencies, which is a ponzi scheme.

    How can so many of the world's leading experts be wrong? Because the Ponzi Scheme is working? That's why an expert is wrong? HAHAHA. I'm waiting for the Wile E. Coyote moment. For openers, I don't want to spend all my free time watching numbers rise up & down every day, hoping that my money isn't in a bubble. I think people avoiding BitCON are wise in doing so.

  19. I enjoy your videos and the focus on truth, but I think part of the truth was left out of this video. You talked a lot about the devaluation of currency and control of central banks but you didn’t say too much about where that has gotten us. We’re living in a period of unprecedented wealth and prosperity that has nearly eliminated abject poverty throughout the world. I don’t doubt that crypto has a role in the future of money or that some people will make a fortune off of it. It’s just that when I look at the world I live in I don’t see fiat currency as a bad thing.

  20. Someone enlighten me to think otherwise… I personally don’t mind investing in this. How would this whole thing become mainstream? It’s confusing enough to explain to someone who doesn’t know about it. It would take years for everyone to use crypto instead of fiat. It’s too expensive to buy into the main coin. I’m on the fence with it all. There are too many altcoins to begin with..

  21. Apple does not have 720Bn in cash reserves. 720Bn would be the market capitalization meaning All stocks * stock value.

  22. Bubble and scam should not be the same answer. If you think an asset can legitimately increase 18 fold in 10 months and not be a bubble then lots of top investors would not agree with you. It can be a bubble currently and still be viable long term. To say those that believe it is a bubble "don't understand it" is exceedingly arrogant.

  23. I've been in the crypto market since 2012 (when BTC was $13 dollars) and I have a wealth of knowledge that I'd be happy to share if you have any questions.

  24. Love ADA .. but Pivx…. great tech and is super undervalued and ready to 10x ..$$ honestly check it out and post

Leave a Reply

Your email address will not be published. Required fields are marked *