V065: Gordon Miller Bought Bitcoin?! No Way! He Told Us Not To Buy It!

hey YouTube Gordon Miller here okay so I have caught probably more hell for what's going to be in this video already from you folks from my introductory video video number 62 and that's where I said you know I went ahead about a month or so ago and I invested in Bitcoin and everybody immediately goes whoa wait a minute you told us not to invest in Bitcoin and now you're making all this money on Bitcoin don't you think that's kind of hypocritical huh so first of all I said that bitcoin is dangerous its volatile and it's not a way to build long term wealth now all of those three things are true that there is nothing wrong with any of those statements the problem is is that you know for me at least I mean I bought ten thousand dollars really Bitcoin and I bought in at about 5600 dollars so it's about you know two Bitcoin the N right now let's see what is it today I don't have an enemy checked let's find out so as of this video whoa all right so a Bitcoin is that you know at 8200 Wow so so anyway I bought ten thousand dollars of aetherium at 280 some bucks it looks like it's at 365 and I bought Bitcoin at 5600 and it's at 8200 so you know how do I sleep at night actually a sleepin hey pretty well but what I wanted everybody to understand is that Bitcoin when it took the big dive after the hard fork didn't happen you know everybody wasn't sure that that wasn't gonna be the end of Bitcoin right then and there and I'm glad it wasn't you know cuz you know I wouldn't lost all my money but ironically aetherium started gaining ground as Bitcoin was losing and I I realized that what's actually happening in this environment is likely going to continue for at least the 12 next 12 to 18 months after that you know it's anybody's guess as to what's gonna end up being you know what's gonna happen I my concern has always been that this is based on nothing everybody that I respect in in the world of finance and business says that it's a scam and I believe it's a scam I believe it's you know the the guy that invented Bitcoin or invented blockchain you know has a million Bitcoin himself and so nobody even knows who he is so for me the thing that separates the casual investor in Bitcoin and the people who think they're gonna get rich off of it and let's understand right now the projection is that Bitcoin may go to between five hundred thousand dollars a coin to as much as a million dollars a coin and that may happen and if that's the case then my ten thousand dollar investment in in Bitcoin will be worth between a million in two million dollars okay well that's great the trouble is is that that's not a long-term sustainable model and you don't know if that's ever going to get there and there's a lot of volatility along the way it's not a it's not a way to generate money you can't even take money out of it so it's not like it's gonna create a revenue stream for you you just have to eat so I may have to leave it in there for the next five or ten years and I could easily lose it any time McDonald's unsweet tea zero calories so for me part of the problem is with Bitcoin is that the it's it's so unpredictable it may it's gonna hit ten thousand dollars a coin before the end of December so by now I mean which means that it you know it's gonna go up you know 10 15 maybe even 20 percent or more you know it may go up another 20 25 percent between now and the end of December so you know it's eighty two hundred dollars right now you know you know I would go by and but I want to make sure you understand there are people out there who are maxing out their credit cards paying their minimum payments so they can buy ten thousand dollars with a Bitcoin hoping that it's going to go up so much in value that they can make the payments on their credit cards and they'll be able to justify that that's not a recipe for building wealth that's a recipe for disaster you miss a payment you default on the credit card you are at thirty nine point nine nine percent Interest you know and understand that you know that introductory rate of 0% may sound great but at the end of that you know you have to the interest rates will continue going up on that and and while Bitcoin has been going up very aggressively it can't go up that quickly you know you can't keep going up that much and even if it does let's say it does and and you it go up and up and up let's say it's going 40 percent a year you know which is insane you know if you default on the credit card because you missed you were late on one payment then you know you're twenty nine point nine nine percent or thirty four point nine nine percent your net margin on the increase in bitcoin is gonna be five percent you know it just doesn't make any sense so when I told people not to invest in Bitcoin I meant it and and I still think that if you can't afford to lose that money then don't don't buy Bitcoin don't buy aetherium don't buy any of the others for god sake but the I bought aetherium because I believe in the platform I think that they have something that Bitcoin does not and I think that the long-term aetherium is a technology play on the platform and I think we're gonna see a lot more solutions based on the etherium blockchain and I hope so and those guys are open to it and we know they are so I think that that's a that gives us some opportunity but I also know that the things that are coming the things like Holly al shami and I are working on threaten to undermine the current status of cryptocurrency if we're successful in 2018 and launching what we plan to do it will completely undermine all of the other alt currencies and and cryptocurrencies out there and I don't I don't say that lightly I'm not I'm not bragging I'm not you know I'm not even making a prediction I'm just saying that if we're successful in doing what we think we can do that Bitcoin will be worth zero and that means all of you get wiped out and me you know I don't mind investing $10,000 in Bitcoin and if it's idiots of being worth a million dollars then great you know even if it ends up being worth $100,000 great but a hundred thousand dollars is not gonna change my life and it really won't change yours either even if you think it will and even if goes to 1/2 million dollars or even a million dollars a million dollars isn't as much money as you think it is you can't quit your job and sit home and watch television or play video games with a million dollars in the bank you just can't survive forever 40 years based on just a million bucks or even 40 years I mean you're gonna be lived to be 80 if you're 20 or 30 right now that's 50 or 60 years so you have to be able to have a long-term strategy for being able to achieve wealth that isn't hoping and praying you know this this thing goes to the stratosphere I really don't think that that's a great strategy long-term for me it means that if I'm wrong and we're not able to disrupt the cryptocurrency market with what Holly and I are doing then Bitcoin will continue to go up in value what we do may even drive Bitcoin up in value more who knows but what it does do for me is I will gladly lose all $10,000 if I'm building a billion dollars with the value in what Holly and I are working on so for me I understand you know when I tell you look I bought Bitcoin I bought a theory I'm part of it as a matter of I didn't want to do these videos and say you know I think that this is bad you know it's easy for people that have no stake in the game to say you know it's bad you know and everything else I'm I didn't want to do that so I have my own money at risk it's my personal money and I took you know I went ahead and bought a you know aetherium first and then about Bitcoin took longer to process the Bitcoin transaction so and you know I think that both of them are likely to continue to go up over the next 12 to 18 months but understand that long term it is not a long term strategy I do not think that you should you know plan on funding your retirement because bitcoin is going to go to a million dollars and coin and you're holding two coin if you are then great Hey look you know it to coin if you bought it a while ago then then great I was at lunch the other day and the waiter who was waiting on us said he was in college at the time a few years ago and he had some buddies that wanted to go in and buy some Bitcoin they were gonna buy $1,000 of the Bitcoin and so at the time he said the Bitcoin was $20 a piece so you know a thousand dollars divided by 20 is 50 Bitcoin so at 50 Bitcoin at the current price is 420 thousand dollars so you know this kid would you know not be waiting tables likely you know he would have 420 thousand dollars in the bank if he had done that so I'm sure he wishes now he had done that you know and taken a thousand dollars and and put it in there you know now you can't you can't take a thousand dollars with a Bitcoin and hope to turn it into something you know your you'll be lucky if a thousand dollars with a Bitcoin right now is gonna be worth ten thousand dollars and and it may eventually be worth a hundred thousand dollars but then you know a hundred thousand dollars is good to have but again it's not going to change your life and you have to liquidate your position too so I mean you know Bitcoin could go to ten million dollars a coin and and then you know you would have lost all the additional upside you would have had so it's hard to say so understand that when I came out of my other videos against Bitcoin I still don't think that bitcoin is a wealth building strategy but if you have ten thousand dollars or a thousand dollars or even like my son so my my middle son is 15 and he has some money in the bank from Christmas and birthdays and stuff like that and I asked him I said you know have you been tracking this would you be interested in doing something with some of that and he said yes so two hundred dollars of his money went into buying etherium and Bitcoin you know he only has $100 of each but you know it's something and his hundred dollars her is two hundred hours total you know maybe worth two thousand dollars or one day may be worth $20,000 so when he goes to college you know it may be may be helpful for him but at least it's been teaching him a lesson I mean he has over a thousand dollars in his account so you know 200 hours is 20% I don't think anybody should put more than about 10% of whatever your total holdings are in anything you know whether it's gold or Bitcoin or whatever it is so I think that's a safe bet you know if you want to bet that this is going to go up and you can afford to lose the money you're going to put in and by all means do it I I know that you know having done the research and looking at this very carefully you know I I knew that I wanted to monitor what this is doing and have some stake in the game at the same time so anyway I really appreciate it I appreciate you all watching through the video please like and subscribe I've got a lot of different topics going on if you want to subscribe to my patreon account I'll put the link in the description I'm doing some individual consulting group discussion type things where I'll be taking questions live and doing different things so it gives me an opportunity to be able to work with each of you in a variety of different you know ways and I look forward to exploring how you know some different ways in which we can do things together and have this make this make sense so anyway thank you very much good luck if you're going to buy Bitcoin if you like and subscribe put some comments in the bottom as to whether not you bought Bitcoin and what what you bought it at and and where you think it's gonna go I'll be curious to see what you guys had to think alright thanks a lot you later

11 thoughts on “V065: Gordon Miller Bought Bitcoin?! No Way! He Told Us Not To Buy It!”

  1. I wonder why someone with a $100 million networth needs a Patreon account?

    I don't believe anyone is paying minimum payment on credit card just so they can have enough to spend $10,000 on Bitcoin, hoping and praying it goes to $100,000 or more. That's just too ridiculous to be true.

    Like you said, invest only what you can afford to lose, anything other than that is a recipe for disaster as you stated.

    I'd like your thoughts on something, I read an article about a week ago, can't stop thinking about it actually. The article stated that one young 31 year old man put $100,000 (his entire life savings) into Ethereum in October 2015 when Ethereum was trading at around $0.70. He claims to have cashed out at around $1,100. His pre-capital gains tax realized gain is worth around $157 MILLION. You think it's fact or a fictitious article written in order to give people false hopes and dreams about becoming incredibly wealthy with crypto currency investment?

  2. BTC .5. – Electricity fee only
    Ethereum 15 – $130 per
    LTC 30 – $40 per
    Neo 5 – $22
    VTC 150 – .80 cents

    Mined the equivalent of approximately 10-20 BTC years ago, when it was hoovering around 1k, sold the majority at approximately 200 during its massive drop phase.. Sad lesson knowing that's about 100k-200k gone… Live and learn.

  3. What did you mean when you said don't put more than 10% of holding in anything. I am sure you aren't suggesting to keep it in the savings account, since it will not even beat inflation.

  4. I will be blunt with you. You still come as dishonest.

    I personally didn’t follow your advice as I have some bitcoin.

    But I can see everyone that lost money because they listened to you feel betrayed.And rightly so.

    Had they not listened to you they would’ve earned a lot of money. And plenty didn’t because they trusted you.

    You buying bitcoin gives the message that your words held no weight at all. And that they shouldn’t have trusted you.

    It’s great you can sleep at night. But it would be a big shame if you couldn’t see why this is an immoral thing to do. Specially when people looked up to you and did what they did because they trusted you.

    Would have been easier to say “ I was wrong” or at least admit you don’t know instead of sugarcoating it by flexing your bitcoin to us.

    >you say Don’t Invest in bitcoin
    >but you invest in bitcoin

    Your words say one thing. But your actions say another.

    Actions speak louder than words.

  5. Buy some Bitcoin now if you haven't yet.
    Bitcoin has outperformed every other currency, commodity, stock and asset since its inception in 2009. “2017:Bitcoin Beats Stocks, Bonds, And Gold, Again”
    “What delivered the best return of 2017’s first half? Bitcoin and ethereum”
    "Bitcoin’s Rally Crushed Every Other Currency in 2016."
    “Bitcoin was the best performing currency of both 2015 and 2016”

  6. I personally avoid Bitcoin now because I was late in the game, I took your advice in the first video and didn't end up buying Bitcoin when it was quite low. But 2 weeks ago I got into crypto and put $1000 in POWR, $1000 in NEO, $1000 in Etherum, and $1000 in ARK. POWR was 15cents when I bought it now its 50, I sold half of my invest when it hit 60-70 cents the other day and made a tidy profit. The others have also done decently, overall i've made a couple grand which is good for me since I'm only 20 yrs old. https://powerledger.io/ their idea and team is promising personally. Anyway thanks for coming around mate..

  7. Could you make a video on how to avoid distractions and focus in college please.
    I Watch all ur videos btw✌

  8. What would you suggest to a 20 year old who grinds his ass to earn money, Is it wise to Invest in bitcoin or should I keep learning more about Equity Markets and invest there?

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