I follow you on youtube too .

think of it, if bitcoin does reach 1 million, the fees will be astronomical and it will take days even weeks for transfers to get through...

Hi, thanks again for making another great video.

You draw an analogy between investors' optimism on the potential of the internet etc before the dot-com crash and bitcoin. I was wondering, considering that these investors were so bullish over the potential of the internet,  just the same with bitcoin over the long-term, does the bubble popping really matter, if in the long-term everyone thinks things are going to be so great anyways?

Greetings-I thought this was a great video.  I have watched other videos on the channel and felt like this one stood out a little more to me.  I love your sentiment on BTC because I feel like we are one (albeit small) step closer to critical mass, which is good or bad based on ones opinion.  To your point my friends and family have begun to ask me about investing in crypto which I have mixed feelings about because they are not interested in the underlying technology but rather simply want to make a quick and easy profit.  

Speaking specifically about BTC I echo the comment from li0 below regarding the extremely high tx fees as well as time it takes to complete a tx. I saw one recently where it cost $81k in fees to spend $24! Additionally, I wanted your take on the following.  Do you feel that people are investing in BTC because they are investing in a 'brand' rather than the other benefits of the coin?  IMO popular demand is continuing to drive the price up and we continue to see these small bubbles pop only to continue to build back up.  In the future I can potentially see a flip between BCH and BTC in terms of price and practical use as people wise up on the real practicality of the using BTC as a viable currency.  Thoughts?

Looking forward to continuing to contribute!

I think it all comes out to whats your finall goal. Your end game. 

I dont care about short or mid term profits meassured in fiat. I track these stats, but I dont care. 

Im mentally in 2020 so I dont care about current price or state of the tech. Im here for the freedom and biggest revolution since internet. 

Futures are for the first time signaling negative trend. I love it! I want to see the blood. I want to get discounts for only free money on the planet. 

Thats my view.

very well! Thanks !!!

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I did enjoy this video. I jumped into the cryptocurrency game pretty late. I just started my path to financial freedom a couple of months ago and chose to pay my car and mortgage off first before investing, lol. Didnt think i would look back on that as a mistake. I saved $20K in interest but could have had $100K in profit. Anyway, great video.

Are you paying the right price for this asset? That is the essential question. I liked your video, and I have come to the sobering realization that BTC is not useful, and thus I am not paying the right prices for this asset. I posted similar recently.

Whining about negativity is not an argument, just the chatter of people desperately trying to rationalize their exposure to a massive bubble. I've never actually seen anyone even try to justify Bitcoin's market cap, merely shrieks about a digital store of value while clearly not understanding what a store of value is. If Bitcoin isn't being/can't be used in commerce in a significant way, what value is there to store in the first place? What is the utility value of a payment network with fees around $20-30 and a maximum capacity of ~350,000 transactions/day? Zero, or very close to it. It's only viable use-case is large remittance payments, which can also be executed in any other cryptocurrency. The rampant speculation filling up blocks and driving up fees has destroyed any utility value it may have commanded.

Interesting video... Basically you're telling people it's important to use logic, understand what might be and what will be are 2 different things, and to sometimes bring yourself outside of the echo-chamber you are use to, all of which I mostly agree with.

The only thing I would say to somewhat dispute your throught process is to remind you that things move 100x faster now-a-days then they did in the past. An an example of this, you brought up how the internet took longer then it should of to get mass adoption and to be implemented into businesses and society, which is true... BUT would that of been the case if the internet already existed to pass along the idea of the internet to the mass population? Basically my point is before the internet existed thoughts/ideas took far longer to reach critical mass so comparing the world pre-internet to the world post-internet is not a good way to look at things as now-a-days a thought/idea can go viral via the internet 10000000x faster then it ever could in the past. Is the crypto prices ahead of where they should be? more then likely yes... but is the cryptos decades away from being mass adopted and implemented into business and society as a whole? In my strong opinion hell no...  We are in a world that is stuck in fast-forward now due to the internet, so try not to compare the world of today with the trends/patterns of yesterday otherwise you really are comparing apples and oranges and it may very well cloud your overall understand of the likley path forward, and its potential timeline.

Just some food for thought.

Btc has future but i agree that it needs ''correction''. I m all in cryptocurrency by the way :)

Your views are very much thought-evoking and I do share many of your ideas - I think the madness of what's going on at the moment is really challenging the sanity of even the brightest minds! From my perspective, there's almost too many well-articulated,  greatly convincing advocates which have done an amazing job at marketing BTC. Perhaps so much so that it's cast a shadow on the inefficiencies of the system. What do you feel about claims that the BTC inner circle are jumping ship because the core BTC dev team are reluctant to bring it into an arena where they can actually compete with several others of the newest and most technologically advanced coins, which serve a better purpose to their original intent?  By looking at peoples emotions, and what BTC has done to them I would argue that a sudden major drop in BTC (20-30%++) would have some interesting effects on the market; namely a massive influx of fresh speculation into BTC for all the souls who feel they missed the train and now it's time to get back on board when they have a shot. This despite faster and cheaper transactions, and more utility in other coins.

C

I agree with much of what was said in this post, but disagree as well. We are where the internet was prior to 1982 when the (TCP/IP) was standardized. There is still a lot of global calibration for blockchain technologies to be able to work seamlessly and interchangeably. 

With this being said, once this gets into the "1998 of Internet", we are going to see some real madness. Hopefully people and governments will have learned the lessons from the growth and impact of the internet, because this will redefine how data is stored/transferred/used.

Good post! Bitcoin is good, but steemit will be better soon. I follow and upvote you, do same for me.

I really like your video. Very insightful and helps me in reviewing my strategy.

I am waiting for the wonderful continuation...

I agree with must of what you say, and I think a lot of people would benefit from seeing your point of view from time to time. What new investors often forget and even seasoned investors, is that ''risk and reward goes hand in hand''. One of the worst things you can do in investing or any other decision in life, is it economic or not. Is to ''assume your conclusions''. Because then you are actually not testing the data, but your personal opinion. (and just so you know, that's a big no no). If you shoot someone down for pointing out another way of viewing a problem or something you want to test (data), then your test is going to come out wrong/false. If you see Bitcoin as a thing that is only a succes story, and ignore the risk or any downside then you are ''assuming your conclusions!'' And by the way, if you ''assume your conclusions'' and only look at the upside, then you are quickly going to be out of a job atleast if you care about statistics.

First and foremost, love your content & critical analysis in a time where everyone is absurdly bullish.

I know you didn't want questions like "What do you think of X currency" etc.

However, can you answer this?

If you had just discovered the crypto space and wanted to invest just $100, where would you put it? I'm not asking for financial advise. I'm just curious on your opinion as a longterm hold with the CURRENT prices. What % would you put into which currencies for a relatively safe investment? (keyword being relative, I understand crypto is a very high risk environment in general at the moment)

Do you think of ALL crypto as a bubble given the current hype? Or do you think there are crypto's that have largely been unaffected by the BTC mania? If so, which of these crypto's do you consider to be unaffected and a reasonable investment.

I am not asking for investment advice, I am asking for your opinion. I understand your answer is not investment advice and everyone should only invest what they are fully willing to lose.

Nice FUD...

What you've posted is something I've been thinking about the past few days. Yes, I'm carefully mining/investing, but I realized that Bitcoin -- as a transaction medium -- isn't working. You can't say that it's fulfilling its duty as a digital currency when you have 160,000+ unconfirmed transactions and those that *are* confirmed aren't done so for 70 - 90 hours.

I do think that (part) of its growth is due to the fact that more and more people want to "separate" their finances from their respective fiat currencies. Bitcoin -- because of its finite supply -- seems to be fitting the bill...at least for now. Still, I wasn't expecting to see Bitcoin $18,000 this soon. I, to, think it's overvalued...at least at present.

I'm not the expert in crytocurrency (yet), but I believe we really need a fork that will improve the usability and speed of Bitcoin transactions. This ongoing mess will only get worse as more money piles in. Or, as time goes on, alternate currencies will eventually rise and take Bitcoin's place.

In the meantime, I think we can both agree that we should invest carefully and take gains for now, but have an exit strategy in place if/when things turn.

I appreciate your thoughtfulness and how you separate emotion from fact. It's rare these days.