What Most People Aren’t Seeing About Bitcoin | EP#182

Hey everyone Scott Cunningham aka @scottcbusiness today we’re going to be talking about what most people aren’t
seeing about Bitcoin and I want to preface this by saying that I am NOT a
financial adviser I’m not some sort of expert I am not even really going to be
giving you my opinion I am only going to be sharing with you the facts of exactly
what is happening and let you make your own conclusions but I have a feeling and
it is my opinion that if you’re looking at Bitcoin very negatively right now you
might think a little differently when you’re done watching this so let’s dive
right in the biggest and most important thing being that the Bitcoin having is
coming next May well this upcoming May May of 2020 generally so we can’t say
the exact date because it’s estimated based on the amount of miners that are
mining but I will leave a link in the description where you can see a
countdown for the projected estimation currently it says May 14th that could
change it’s not it’s not opinionated it’s not an opinion that it’s May 14th
it’s based on the mining projections and and the amount of that are being mined
every single day again that could change but it’s not going to have a drastic
impact on the day it could be May 13th it could be May 16th maybe some crazy
amount of miners stop mining and it doesn’t happen till June but we have a
very good idea of when this is going to happen and I’ll share that link with
with you guys so that you can see exactly what I’m talking about one of
the really important things is for the next having the inflation rate for
Bitcoin will reduce from three point eight percent to about one point eight
percent and the US has an inflation rate of one point seven and it is among some
of the wealthiest countries in the world the top five countries with the highest
GDP are US China Japan Germany and the UK and their respective inflation rates
are one point seven two point eight zero point three one point four and one point
seven so comparing that to a lot of the other inflation rates of come of
countries that aren’t doing so well you can see there’s definitely a correlation
between lower interest and high-performing GDP and I’m not saying
it’s because you have low interest you have high GDP it’s more so when you have
high GDP if you have low interest with that it’s going to help and China is the
only one that kind of has a bit of a higher inflation rate comparatively to
the other ones with Japan being only 0.3 which is extremely low the point being
that bitcoin is going to drop from three point eight which is way higher than
these two around the same right one point eight is very very close to one
point seven and in the next having it’s going to be less than almost all of them
except for Japan and well essentially what this means is that it is going to
be in line with some of the wealthiest countries inflation rates and not only
that they don’t have supply caps meaning they’re going to infinitely inflate
until they attend down to zero because all sovereign currencies trend toward
zero because of inflation bitcoin is a commodity like gold thus there is a
supply limit of 21 million meaning that once it hits that there will never be
any more Bitcoin than 21 million so even though it might have an inflation rate
of 1.8 or 1.7 or 3.8 where whatever it happens to be at the time it still
should technically have more value and that’s why we see all sovereign
currencies trending to zero whereas a lot of cryptocurrencies trend upward
and many people will say bold or volatile it’s hype it’s a bubble that it
when you look into the having’s in the previous having’s you’ll actually
realize that all of the previous hype cycles of Bitcoin were based around
Bitcoin having’s and you might say it’s maybe it’s a coincidence
but any serious and I’m not saying you’re not serious and a serious
investor but any investor who’s really really looked into Bitcoin as a
technology they’ve looked at the blockchain they’ve looked at how it all
works they understand that the price generally should based on supply and
demand go up every having naturally investors will start to invest leading
up to the halving and they’ll buy a bunch right around it to spur the hype
and then everyone else will jump in because they don’t know why but all the
news starts churning a bunch of stories everyone’s talking about everyone’s
buying it the people who knew the halving was coming weren’t prepared for
this everyone else just thinks oh my god it’s another hype it’s another bubble
like get in before it’s too late and anyway so previous increases after
having x’ have been just ridiculous the very first having saw an increase from
the time of its having to its next all-time high which was around 300 days
or so it was 8,000 percent increase the second having it saw a 3,000 percent
increase i’m hoping hoping this is not a prediction by any means i’m hoping that
in the next having we’ll see maybe a 1000% increase in line with the
percentage changes of the previous having’s and mind you that’s complete
speculation that i would hope it would be and it’s not like i’m saying it it
would or it should but that is my hope because that would be really ideal the
point is though a lot of miners will actually stop selling leading up to the
halving and then once the halving halves they’ll start selling at a higher
a higher rate because they’re making significantly less so what a halving is
is when the Bitcoin rewards for mining a block for miners goes from well it has
so currently it’s 12.5 it’ll go to six point two five they’re getting half as
much so they want to take advantage of you know losing all of all all of the
potential rewards that they would be getting otherwise by holding on to it
and then making sure collectively that the price goes up because they still
need to cover their electricity fees and and everything that they have going on
for it to still be profitable and and generally you see miners with like less
capacity less capability they kind of fall off and get replaced by bigger
companies and people with like mining farms etc so when we talk about just
supply and demand which I mentioned earlier Bitcoin has a limited supply
it’s like gold so naturally when this when the production of this half’s
is based on supply and demand it should go up the demand should go up because
the supply is being limited by the production mind you we are already over
or right around 18 million I’m not gonna bother to check but we’re right around
18 million I think I know we’re over 17 million and the max is gonna be 21
million so it’s not like we’re super limited with supply like it’s not like
we’re lacking it we’re already you know there’s only
three million or so more to be mined anyways but typically when that happens
the difficulty goes up typically there is a price increase because of that as
well I’ve already made two videos previously on the having’s but people
are are really afraid because bitcoin has been going down lately right so so I
think it’s really important to make this distinction of why typically we see
these massive hype cycles where it just really shoots up and people don’t
necessarily know why though it could be speculation it could be luck it could be
it could be a bubble the main things that we actually can point to are
something like the having a lot of people say well you know it’s all
speculative it’s not really backed by anything well it is a commodity and it
is backed by the electricity used to created and the fiat currency used to
acquire it and again supply and demand I made a video not long ago talking about
how wealth is really based on or rather currency is rather is really based on
faith and attention if you have faith in it or if people are giving it the
attention like that it is legitimate it is value if people are just using it to
any degree it is it has value and the average person has no idea about this I
said this earlier the average person has no idea about Bitcoin having’s so when
they see Bitcoin going up they just think there’s another hype cycle they
don’t actually know why but then they get in because you know it’s going up
and they hope that they can get some money out of it too but typically when
you’re joining in late you’re gonna be losing money because the people like
myself and other people who know about the having we’ve already invested and
now we’re just waiting for those people to come in and unfortunately more or
less taking their money because they’re bringing the price way up and then we
sell and then they don’t know when to sell or maybe they do and they do make
money and then typically it goes it crashes after and but it ends up at a
higher high than its previous low or a higher low than its previous low and in
the cycle repeats but you know we don’t know exactly what’s going to happen the
only thing that we can point or one of the only things that we can point to is
we do know that with previous having’s the prices have skyrocketed and so many
people will always say yeah but you don’t really know that it’s gonna have
like what if it just doesn’t or like you know it could just be your opinion that
it’s going it’s like no it’s built into the technology it’s not a speculation
that it might have we’ll half at a certain amount of blocks
mind it will happen and no one is going to stop it unless every minor stops
mining which would equally be detrimental and that’s not going to
happen that would be like a global blackett what does this mean for the
rest of the market well what this means for the rest of the market is that every
other somewhat good like like of any project that has a good coin or token
typically will also see a spike if Bitcoin spikes and the reason is because
when Bitcoin is used generally Bitcoin eath finance you know there’s different
coins but generally a very small amount that are used as trading pairs with
other coins Bitcoin is one of the main trading pairs so say Bitcoin becomes it
does go up a thousand percent right so say it’s worth now a hundred times more
than you know some altcoin that you wanted to buy before but you what you
weren’t buying but you have Bitcoin and you don’t know when bitcoin is going to
crash but you’ve got this Bitcoin and you see all of these alt coins that are
just very very low value so you’re sitting there wondering wouldn’t it make
sense that I buy these alt coins because they’re extremely inexpensive but
they’re still worth the same just because bitcoin is worth way more and I
have Bitcoin well you would be thinking the same thing as basically anyone who
has Bitcoin because what usually happens is people take advantage of this and
they buy a ton of vault coins now it shifts and Bitcoin generally raises the
tides for all boats also on the other side Bitcoin going down typically brings
down everything else because again it’s affecting the trading pairs so what
happens is it goes way up and then people take advantage of this and they
buy all the other coins and then they all go way up as well and then everyone
holding any of like you know decent coins because you know assuming you’ve
got like some bullshit coins you’re probably not going
to benefit very much but as long as you have decent coins and people are taking
their Bitcoin and investing in those as well then you’re going to see an
increase in all those coins as well and again that is speculation I will say
that I will make the point of saying that whether or not other coins will go
up is completely speculation but generally that’s what typically happens
when Bitcoin is way up and we we all just know that from history that
whenever Bitcoin takes a hit most coins take a hit when Bitcoin gets huge gains
most coins go up as well the bottom line I know many people get upset when people
talk about Bitcoin predictions I’ve been threatened just for mentioning that
Bitcoin will have their built into the technology itself it’s not like some
opinion I have or some speculation it is what will happen and and I’m not making
a prediction based on the fact that it’s halved in the past it will have again
the prediction that well I’m not making the prediction but the speculation is
whether or not the price will go up and if you have any faith in general
economics and supply and demand then you would understand that it really should
it should I’m not saying it will but it should and regardless of the conclusions
that you draw from this I’ll let you know that I am waiting for May to
basically sell off the majority of my stuff not at may not not on the 15th
it’s and everything’s not just going to explode for the previous having’s there
was like 300 days for the first one to the to the all-time high and the second
one there was like 500 days to the all-time high so we could see like a
full year after the halving before things really vamp up but there should
be somewhat of a notable increase in May or leading up to me and it should
continue to increase it should we’re just going based off of
what has happened and and and how the having’s do this every time in the
having’s will percent happen whatever happens as a
result of the having’s we don’t know all we know is what we what’s happened
before and it’s not just like oh look at the past it’s like well the past the
future any time supply and demand is a relevant variable because that’s just
basic economics so again it’s self-evident when you look into the
technology and how its setup and how the price previously skyrocketed that it
isn’t just random or hype based and it was because of the having’s
and whether or not you believe that or not we can wait to to see in in May and
you know a year maybe two years after me so again it’s not speculation don’t just
go buy Bitcoin because you saw this don’t say that I told you to buy Bitcoin
I am not recommending you do anything I’m only giving you the information and
you can make your own conclusions cuz you know everyone’s saying Bitcoin must
be bullish again and what generally happens is is everyone really wants it
to be so then when all the investors who understand the having’s invest all of
the media outlets catch on they start turning a bunch of stories and everyone
jumps in at this point and you know I already said this but you’ll see
searches for Bitcoin will skyrocket articles will skyrocket the amount of
articles being written and leading up to the halving I’m gonna be very closely
monitoring the amount of searches for Bitcoin the amount of articles being put
out and maybe I’ll make a video or a few videos going like leading up to them
just kind of following along that hype cycle because the hype cycle while it
does affect the price is more or less a result of the informed investors
understanding what’s happening with the actual technology and making informed
decisions and everyone else is playing catch-up because they don’t actually
know why and I think that’s a huge it’s very important to understand this
because so many people are like yeah well it’s all speculative no one knows
when it’s gonna go up or down I did it it’s like well we can look at having’s
and have that’s like the most concrete thing in my opinion that we can look at
it’s a commodity the having is going to happen the supply is going to be well
the supply isn’t going to change per se but the inflation for the supply and the
the production is going to change and it’s going to be limited by a lot and
we’ll see I’m gonna have a keen eye watching out for this let me know what
you guys think again I’m not suggesting you buy Bitcoin may make your own
conclusions let me know what you think below is there any other concrete things
that you think that we can point to or do you think that having x’ are the most
concrete thing that we can base our investing strategies off of or do you
think the the having’s are just a bunch of hocus pocus maybe not that they’re
not real but that they don’t really affect the price as much as people might
think that they do let me know in the comments below
don’t forget to comment a hash tag number one hamed and let me know that
you watched to the very end don’t forget to like comment and subscribe
I’m Scott Cunningham aka @scottcbusiness signing off Cheers

7 thoughts on “What Most People Aren’t Seeing About Bitcoin | EP#182”

  1. Stop investing btc and crypto will rekkt you. Btc wiill now go to 10 k. My whale friend told me they are preventing it. Keep your money in a bank and save.

  2. Bitcoin has been in a bull market since the beginning. Over the long-term Bitcoin has only increased in value no matter how many big drops there were on the way up. Since it is expected that this pattern will continue, Bitcoin is also expected to set a new high this year. No matter how many big drops there are on the way to it’s previous high, it will eventually pass it and likely set a new high. According to this logic and math, it's only a matter of time. What concerns me and should every serious crypto enthusiast is how to accumulate in anticipation of the imminent increase in value and my basic strategy which has worked for me for the past 2 months now is guided trading using a signal system provided by Callum Cartwright. His signals are 98% accurate I had increased my portfolio by over 6 btc. I will urge everyone to get on the train now. You can contact Mr Callum on WhatsApp +15067126419

  3. What vast majority of people don't understand is:

    – that Bitcoin is a SYSTEM and a NETWORK, not a "coin"
    – that value doesn't come from scarcity of the "coin" but from usability of the network, the more useful the network, the more value it will have
    – that label alone does not define what Bitcoin is, or even the amount of hashing power, what does define what Bitcoin is is the rules of the system which have been defined in the Bitcoin white paper. BTC for example, no longer follows those rules as BTC has been changed by the Core developers
    – that BTC and every other token/blockchain that relies on BTC as BTC is being used as trading pair, is going to die, if there is not enough on-chain utility and that price alone is not going to change that.
    – that sustainability of the Bitcoin system, or any other PoW mased blockchain that uses different set of rules, is dependent on on-chain scaling and not the price. Hype and pumping up the price is not going to make BTC sustainable, without on-chain scaling BTC will die 100%, the only thing that could change that is if Core developers abandon 21 million BTC limit and add infinite inflation, in order to keep giving miners subsidy to keep running the network, even in this crippled, small capacity state.

    People generally have no clue what Bitcoin really is or how it works, or why it was created or why it was created to work in certain ways. Developers have no economic or physics or mathematical background, which is needed in order to understand Bitcoin system properly, and they think that just because they are good coders, that they know better than creator of Bitcoin (Satoshi, which happens to be Dr Craig Wright). Most people have no clue that BTC is not Bitcoin any more because it has been changed, and reason they don't know this is because they haven't done their research, they just listen to traders and people who pretend to be "experts" just because they bought BTC early and made some money from it (meaning they got lucky and this has nothing to do with skill or understanding of the Bitcoin system) and people don't understand any of this because all they are focused to see is the label and ticker…. and price… and not the working fundamentals.

    Little people know that actual Bitcoin is BTC and not BTC, but time will come when they will learn the hard way.

  4. FYI, GDP and inflation rates are statistical propaganda and they don't mean jack shit.
    What really matters is wealth inequality. If a nation like US has high GDP it doesn't mean average (or better measure is MEAN value not average) person is well off, and this is evident in tent cities, massive crime rate, poverty, drug abuse, war mongering, complete corruption of the government, horrible educational system which only brainwashed people, and health system which makes the capitalists profit from misery of others… 1/2 of the people in US are in poverty, they wealth inequality is worse than in Mexico, US rates as top nation in all the WORST THINGS, not good things… so as I said, their high GDP means jack shit. Take out top 10 richest families out of the US, and US becomes a very poor country as most of the wealth is in pockets of these top richest capitalists… and they control everything, including the government, which is the very reason everything in US is corrupt as fuck and everything they claim is a LIE.

  5. I agree with your point, so what do you think altcoin will look like? I see that almost altcoin prices have dropped sharply recently but only #TOKO a token being traded on Kucoin holds a very good price, what do you think about this project?

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