What Is Cryptocurrency? | The Value Of Bitcoin vs The Dollar… Is Irrelevant

Hello Caleb Wright here from WhatIsACryptocurrency.com
and I just want to go over my latest blog post here. What Is Cryptocurrency? The topic
of today being the value of Bitcoin versus the dollar. Now, just so many of us out there,
we are so used to just measuring the value of everything in dollars because, well that’s
what our society taught us and that’s what we do. But the thing is, is that the value
of Bitcoin and cryptocurrency is actually so much further reaching than it’s actual
value in dollars. And I’m going to give you several reasons why that just valuing Bitcoin
and cryptocurrency in today’s US Dollars is a little bit short sighted. So the first reason
would be kind of painting a picture of how the internet, the trend of the internet kind
of shows you how that the trend of cryptocurrency is going to unfold. Because if you look back
at the history of the internet boom, when people first started using the internet, you
know, people were asking the questions “what is the internet” and “what is email”? About
20 years ago when people were first starting to use the internet in the 90’s and people
were first starting to use AOL and accessing the internet through their phone lines, and
all that. People were first starting to use it, people were still wondering what is it?
How do you use it? And that’s the current state that we are at with cryptocurrency today.
People are wondering “what is cryptocurrency?” there are still so many people out there who
don’t even know what Bitcoin is. Even though it’s been around for since 2009 over 6 years
or so. So we are basically right in the beginning of a megatrend that will be just as big as
the internet, basically cryptocurrency is a technology that overlays the virtual matrix
of the internet, with it’s currency technology. It’s just an extension and growth of the internet
and in a way that we use our money. That gives us a powerful way to use money and store our
value, and use it as money, through cryptocurrency okay? So basically we’re right in the beginning
of something that is revolutionizing what we know as money. Cryptocurrency is the future
of money. And so what you saw when the internet came out, you know it didn’t totally replace
snail mail, but over time people started adopting it (email) and the use of snail mail went
down dramatically. And then of course the news organizations they took to the internet
and then over time newspapers shrank because the demand for the physical paper proportionately
shrank as more people started getting all their news online. Unless people wanted the
physical paper. So what you are going to see is the same thing is going to happen with
cryptocurrency, where we have kind of already been on this path anyways, with so many people
using credit cards over the 90’s and practically everyone uses credit and debit cards now,
everybody’s using money digitally for a while now, now it’s just a matter of the money completely
becoming digital, that everybody uses everyday. And that is where cryptocurrency comes into
play. So really, cryptocurrency is right in the beginning of its potential as a currency,
now if you compare that to the US dollar, the US Dollar has been the world reserve currency
for just over 70 years now at this point. And every world reserve currency in the past
in history has only had a lifespan typically of 60-65 years before being replaced by the
new one that comes into play. And right now the United States dollar is right at the end
of that run. It’s actually been overextended. And a big reason why that it’s been overextended
is because that the hegemony of the US dollar in the global economy is kinda supported by
the fact of the United States presence militarily in over 100 countries in the world. So really,
there is a big influence obviously in the world to keep using the dollar, but that kind
of influence is actually waning, the strength of it is waning as the international community
has been moving away from using the US Dollar. For several years now with something we call
Bilateral Trade.. that’s where countries like Russia, China and India trade their resources,
their assets, without trading their sovereign countries currency for US Dollars in order
to complete the trades. So they are skirting around the US Dollar SWIFT system that is
imposed for global trade. I’m going to get to the second reason here, which is, I was
already getting a little bit into that but it’s reason number two. It’s like comparing
bitcoin, or cryptocurrency to the dollar is like comparing physical mail to email. So
what we have here to answer this question “what is cryptocurrency?” Cryptocurrency is
a way to transfer money almost instantly, well with Bitcoin it takes a few hours, but
you can do it digitally from peer to peer, anywhere around the globe basically. And so
that’s very much like email. Email its almost instant, you send it, sometimes it takes a
few moments depending where you are on the network and where the other person is but
it gets to them pretty instantly. That’s where cryptocurrency is going, even though Bitcoin
takes a few hours for someone to move money from one person to another, there is actually
another new second generation cryptocurrency that is coming out that is really just stepping
up the game and giving Bitcoin a run for it’s money and it’s capable of instantaneous transactions.
That is called Capricoin. And I’ll probably discuss that later in another post at some
point, or you will be able to find more information probably linked at the bottom of this blog
post or right underneath this video on Youtube where you’ll be able to get more information
about this new cryptocurrency where many people right now are positioning themselves to profit
massively from the growth and adoption of this new crypto just like bitcoin was and
just like when people became very wealthy with bitcoin, through this new cryptocurrency
there is now an opportunity to do the same thing. Okay? But getting back to this article
here about why that comparing Bitcoin to the dollar is like comparing physical mail to
email. Basically it’s like regular mail, people just aren’t using it as much anymore. It’s
still used but it’s pretty much on the way to becoming obsolete. And so the same thing
is happening with the dollar. Okay, because the international community they’ve for the
past few years have been doing bilateral trade and this past year they actually formed the
BRICS bank, which is a bank that is formed by Brazil, India, China, Russia and South
Africa to trade amongst each other without using the US dollar. And so this was actually
just such a big nail in the coffin towards the use of the US dollar moving forward into
the future. Because the BRICS bank, the countries of the BRICS banks own 40% of the world’s
currency reserves and human population. So for that to kind of break off from the usage
of the dollar is a pretty big blow right there. So the power and influence of the US dollar
is completely waning and so many financial experts that are out there have been predicting
the coming financial collapse of the dollar for years now, people including Robert Kiyosaki,
Peter Schiff, Jeff Berwick, Mike Maloney or George Soros who proclaiimed in 2008 that
“American’s are ignorant about economic collapses because they have never experienced one firsthand,
but that what happened in 2008 was like a little heart attack the symptom of the coming
demise, and if the economic policies did not change” And I think obviously as we have seen
since 2008 until now, the national debt over GDP, has only ballooned and we only have a
worse situation now then we had since 2008 economically and that is for sure. So what
we have here with cryptocurrency is basically an excellent way to store your money outside
of the fiat currency system and have it be a safe haven for your value, not affected
by the politics or the welfare of your nation, or however that your economy is going. For
example if you look at what happened in Greece recently, they had an economic collapse and
it devalued their currency overnight by 50% or so and limited their citizens to being
able to only withdraw 60 euros per day from the Central banking system. So what happened
next? Bitcoin ATMs ended up showing up all over Greece. So people in Greece, their families
from outside of the country were able to funnel money in via bitcoin and that helped to make
their situation better. But the point there is that also, I’m sure many Greeks who, or
any Greeks who had the fortune, good fortune, to have purchased bitcoin while they could
and gained the value from that, they’ve made it through this alright because they did not
lose all their value of their bitcoin when the value of their Drachma went down and they
were forced to use the euro. So Caleb Wright here with WhatIsACryptocurrency.com, I’m was
just on to chat for a little bit about my latest blog post here What Is Cryptocurrency?
The value of the Bitcoin versus the dollar and just show you a bunch of reasons here
why that yeah the value of Bitcoin versus the dollar is useful on a day to day basis
for anyone that has bitcoin and wants to liquidate it and get their fiat money but on a longer
term view of things the value of bitcoin is actually going to be way more than what we
can even comprehend right now because of its potential and how it’s revolutionizing money
and just comparing it to the value of the dollar right now is just, especially from
our limited perspective from “within the shell” of the United States, we are not realizing
as much as the people from outside the country, the direction of the dollar because we’re
kinda a little bit blinded by the media being told that everything is alright and all that
jazz. But it’s a stark truth what is going on and I presented this information here to
you in hopes that you’ll be able to wake up with this information and make some prudent
moves with your money to diversify outside of fiat currency with cryptocurrency as one
of your options. So to see how you can actually get into a high potential type of cryptocurrency,
the one I was speaking about earlier, that is advancing the technology and bringing cryptocurrency
to the next level, called the Capricoin, you can use a link right underneath this video
or right at the bottom of this blog post and you’ll be able to opt in for more information
and videos in regard to that topic and you are welcome to also contact me using the information
underneath this video or on this blog post and I’ll be happy to speak to you and help
answer all your questions about cryptocurrency. So I hope you enjoyed the video today, have
a great day. Bye now. What is Cryptocurrency.

4 thoughts on “What Is Cryptocurrency? | The Value Of Bitcoin vs The Dollar… Is Irrelevant”

  1. loves it bae <3 you make great videos that just totally inspire everyone!!!! so What Is cryptocurrency? everyone should just watch this!!!!!

  2. Great video! Anyone wanting know exactly what cryptocurrency is should watch this. It's very eye opening and you can see clear comparisons when we were first learning how to use the internet. Nobody wanted it or needed it then. But today, you can't live without checking it every 5 minutes.

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