Casually Explained: Bitcoin




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38 Comments

  1. Just to be clear. Bitcoin is a store of value and can be used as money. Bitcoins price is rising due to its adoption, ones it is established internationally, the price will only increase a few percent each year at that point it's essential pagged to the world economy.
    As of right now bitcoin has the best risk to reward ratios of all assets. People who really understand bitcoin realize that there is almost no risk at this point especially after the approval of the bitcoin etfs in the us. On the other hand there is still a lot of reward left as bitcoin is still in its adoption phase and will atleast surpass gold as the primary store of value.

  2. Crypto is basically an example of why humanity's attribution of value is fatallly flawed. Yes, let's promise monetary retribution for something thats virtually worthless if you pull a few plugs left and right.

    Invest in land and scarce materials, not whatever the next influencer tells you to.

  3. You labeled this video Casually Explained BITCOIN and proceeded to discuss FTX and Dogecoin. Why do fools consistently lump Bitcoin with shitcoins? There is Bitcoin and there is EVERYTHING ELSE

  4. Bitcoin is a scheme. I explain why: because no one use the money as money. Everyone uses as assets. But a thing that the only use is to sell for a bigger price, eventually will be so expansive that no one will buy it, than will be useless, then the prices drops and everyone will lose a ton of money. Just like a piramid scheme. Traditional money works because you can buy things with it and the government make it work. Bitcoin has no use besides being an asset.

  5. Another great video, thanks! I think the market is over-heated. And I am concerned that people are focusing less on fundamentals and just chanting the mantra of dollar cost averaging and driving the market higher without considering fundamentals. It is a catch-22 for me. I mean I like stock prices going higher but I also hate buying over-priced stocks and ETFs. Personally, I have stopped buying growth ETFs- they are ridiculously over-valued. Dividend stocks and ETFs are a little better but they are still over-valued. There is some hope with small and mid caps. I am not sure they are undervalued but at least they are less over-valued..This pattern offers a valuable insight for strategic planning. Despite these trends, i have delve deeply into active trading and managed to grow a nest egg of around 100k to a decent 432k in the space of a few months… I'm especially grateful to Donna Mikalonis, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape…

  6. They invented a system for financial transactions that wastes energy on the level of an entire country and publishes all your transactions to the public internet, which is really stupid. To fix this glaring privacy issue, they then invented crypto mixers, accidentally creating the biggest money laundering machine in human history. Oops.

  7. Bitcoin is backed by the largest, most decentralized network of computers the world has ever seen. It is impossible to stop bitcoin because of this. Trad-fi, regulatory agencies, world leaders and banks have all tried to bury bitcoin and kill it by spreading misinformation and propaganda…. but you cannot stop bitcoin. The main reason bitcoin has value is because its open, neutral, censorship resistance, decentralized and public. It gives financial tools to the unbanked of the world. It gives a store of value to those in countries suffering from hyperinflation. If you still don't understand what bitcoin is, have fun staying poor. we all buy bitcoin at the price we deserve. Bitcoin is to money what cars were to transport. A huge shift which will change humanity forever

  8. If you do not believe Bitcoin has a specific use case.
    Let me tell you that money is a concept, a piece of paper and gold is a shiny rock.
    We use paper and rock as form of payment.
    This is even more ridiculous than a digital form or currency.

    Go do some research on your local currency, 10-20yr span.
    Now look up historical rise of salaries, next – pension savings and purchasing power.
    Inflation is no joke.

    100k in 20yrs is 50k in today purchasing power.

    This is why everything is getting more expensive.
    Retail has to charge more fiat because fiat consistently lose value.
    Customer has to pay more, but wages don't rise with inflation.
    If it did, companies would go out of business trying to keep up with fiat losing value.
    Retail must become more expensive in order to survive working with a currency that will only go down over time.
    Now retail has less money to spend on paying staff a reasonable wage.

    People are making less money because of this system and businesses are making less money from people while spending more fiat to get retail.
    The more you think about this system the crazier it gets, and most people are fine with this.
    Bitcoin what? isn't that for criminals? no it's so that you can get far away from the criminals.

    So if you got more than 30yrs left to live, if you sell and inflation is still a thing.
    That retirement fund will have lost close 60% of it's value from the day you retired.

    Money printer goes brrrrrrrrrrrrrrrr
    Move along, this information is not for you silly farmers.

  9. The problem here is that you've lumped sh!tcoins in with Bitcoin. They are not the same. Bitcoin is the only proof of work protocol that matters. Every other "crypto" reinvents the problems of traditional finance, which is true what is stated in the video.

    The "work" we are referring to when it comes to Bitcoin is understanding WHY it was created in the first place. Bitcoin is anathema to the existing fiat systems of the world. It is the first and only true digital scarcity. (The only way to change the code is to convince enough people on the network to approve of the change, hard fork the code and run the new version). As long as the majority of people running a node keep the overall vision and understanding of what Bitcoin represents, then the code is not changing.

    Current fiat systems literally make money out of thin air. It is just numbers typed into a computer terminal to cash bogus checks (treasury bonds), giving an unlimited amount of money to the people nearest to the money printer first. (See: Cantillon Effect). This money is then spent to buy up harder assets than the fiat produced (i.e. real estate, stocks, etc…). This generates artificial scarcity in these assets, driving their prices higher. Inflation, as many people feel the effects of, but few understand why it happens, is quite literally the result of an expanding money supply with no cap. Bitcoin solves this problem by returning the power to create money to the people, relying on decentralization and game theory incentives to keep everyone honest.

    Bitcoin is also a philosophical cure. When money is effortless to create, like fiat, then you get consumerism and ever increasing Time Preference. The basic idea is this: "Your fiat will be worth less tomorrow, so you better spend it today." Bitcoin reverses this, lowering Time Preference. Because you are able to save your time and energy in something truly scarce, then you can better invest and plan for your future. Saving in Bitcoin, you begin to see abundance everywhere. It incentivizes you to spend money more efficiently, on needs instead of wants. Delayed gratification over immediate gratification.

    Since rediscovering Bitcoin (first played with it in 2014) in 2021, and finally understanding it when 2022 rolled around, I have completely turned my family's quality of life and future for the better. But alas, "everyone gets (understands) Bitcoin at the value they deserve".

    HODL is about never selling your Bitcoin back into a lesser form of money. The half-life of Bitcoin is infinity, the half-life of USD is 10 years (i.e. loses 50% of its value), other fiat the half-life is even shorter half-life. I will only ever convert enough of my Bitcoin into fiat to support myself and my family, when it is truly necessary.

    Anyway, rant over. All I'll leave you with is "do the work". Because reading the White Paper isn't enough. Read Satoshi's emails and exchanges with Hal Finney. Read "The Bitcoin Standard" by Saifedean Ammous. Read "Broken Money" by Lyn Alden. Understand more about how humans exchange value, and why a borderless, uncontrolled, secure form of money is a cure to our toxic systems today.

  10. Started off strong, didn't casually explain anything, focused on opinion instead of explanation, failed to casually explain. :/ do better.

  11. Watch the YouTube channel Bitcoin University. It does a good job of explaining how Bitcoin is different from all other crypto assets and how it is better than the current monetary system of money printing that steals the value of our labor through inflation.

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