Some people probably teetering on the edge of a bridge with a rope in their hand right now, um i am completely unperturbed and still holding on for dear life. Im going to continue holding my crypto by the way, links in the description. If you want to donate crypto to me its worth less now, so you know pony it up uh, i kid, but i do like it to get crypto donations, because its yeah its kind of fun anyway ive put thousands of dollars into crypto ive, also received uh Fairly large amounts of crypto as donations technically on paper, ive lost several tens of thousands of dollars holding this crypto and there was a time youll. Remember not that many moons ago, when bitcoin was really high. I could have made a considerable amount of money offloading. All of my cryptocurrency and i decided not to – and i dont regret, the decision at all its just going to sit there and im going to ride the next wave upwards now disclaimer. This video is just my opinions. It is not economic or fiscal advice and im, not your fiscal advisor or an expert in economics. I dont have a degree like krugman does and therefore im right more often than he is. I think that people get like an economics, degree or journalism degree and it warps them and at some point they just become totally egotistical and they cant break themselves out of thinking that their snap opinions are right.

Anyway, crypto has fallen significantly bitcoin, leading that bullish market. I mean a bearish market um, i expect it to in in not too long stabilize. It may already have done that and then to rise up. All you have to do is look at two factors. This is my take on it bitcoin, especially, and to an extent other cryptos ethereum is a big one. Um are gaining more and more acceptance, that is, that youre, seeing the tip of the iceberg as far as potential usage value dont. Think of it in terms of absolute numbers of value like like zeros ones or dollars, denominations think about it in terms of tangible usefulness. What can you actually do with these things? Over the last few years, weve seen steady innovation, weve seen more and more banks getting into crypto weve, seen more and more billionaires, getting into crypto weve, seen more politicians rambling about needing to regulate crypto thats, just a justification of its usefulness. They want to regulate it because they want their 10. The big guy wants is 10 theres, no reason to do that if crypto isnt conceived of as becoming more accepted and more useful when paypal and bank of banks – and you know madoff and all of these other people are delving into crypto when the usual sleazy gang Of fools in dc and wall street and new york, city and tokyo are all beginning to get into it. When entire nations are setting up mining rigs, you know that cryptocurrency is probably not going anywhere.

The fact is that the whales, the big players and their buddies are all in on it. Only a small proportion, though of businesses and individuals in general, are involved with crypto but theyre joining in more and more. If the price falls like this, if the buy in is less, i would think that it would actually spur more people to get in it. Also in the case of bitcoin means less people will mine it because its worth less now so mining rigs shut off. Therefore, the supply grows more slowly than potentially the demand. The other thing is, you can look at a very long term trajectory, especially if bitcoin but again of others, and many of them are just coins. I wouldnt invest in them. Im invested in six different cryptocurrencies people are constantly approaching me with new coins that some random person, who you may not even know the name of theyre going under an alias, has minted a new coin and heres his 15 page manifesto on why itll change the world Ive seen them come and go over and over again and im not willing to invest in them. Theres no reason to bitcoin is the big dog. Ethereum is the one that seems to have the most usage in many cases. Um litecoin is just basically the silver to bitcoins gold, and there are some others that have usefulness. Monero, i i think, has a usefulness, the problem being, that usefulness is basically hiding transfers.

So, if youre, using it for day to day normal things or just as a store of wealth, theres no reason to invest in monero, so id be more skeptical about that. Um. Look at a long term trend since bitcoins initial inception when it was what was it like a penny for a bitcoin? I bet there are a lot of people who wish that they had sprung on it at the time. I remember when it was like maybe 50 cents of bitcoin. I considered dumping a hundred dollars into it just for jollies, but then ended up using that money to buy beer, not because i was a poor, starving college kid and i said well yeah. It sounds pretty fun. I was seeing on 4chan at the time yeah i kind of wish i had bought in, although to tell the truth, because i was young and dumb at the time i wouldnt have waited until it was tens of thousands of dollars of bitcoin and made out like A band i wouldnt become a millionaire. I would have offloaded it when it hit like 100 bucks or something i would have me i would have made quite a bit of money would have been nice, make 10 20 000 in a transfer. Well, this will take care of my tuition for the year that would have been pleasant. You know i would have been buying better beer, but i uh, unfortunately every hindsights 2020., if you held it long term, youre a millionaire.

Now, if you didnt, you know you bought pizza with bitcoin. Apparently there was one time when a person bought a pizza with bitcoin was like a penny, a piece. Well, that was an expensive pizza isnt it worth like 10 million dollars now or something or actually a hundred million anyway, look at a long term trend for the last year, or so it was overvalued. If you draw a very simple trend line that gently slopes upwards youll find a lot is above that line now its below that line. In my opinion, or or roughly added, i think a bit below it will stabilize and then theres a delay could be months could be years, and then it goes back up to that trend line its sort of like within political polling. What you see is static, people, panic, sell people get greedy and and buy up a bunch and it forces the value up or down, but the real value is somewhere in the middle theres, a median and its rising, because the amount of acceptance is rising. The more people using it, the more demand for it, and especially at times like this, when the growth of the supply is throttled back, the more the value will tend to grow, but that value may not be realized right away. The other thing that i would say is look at the actions of the whales theyre still buying it up theyre. Looking at this as a buying opportunity and thatll – probably buoy the price at some point now, it could be that this is a pipe dream.

The whales say: okay, this experiments over, they all start dumping. It and crypto goes to zero and effectively stops existing for any purpose other than as a novelty and youll have a museum of the crazy millennials crypto scam, and somebody will make a lot of money literally having a museum full of flash drives and posters and like That that could very well happen, but im, not betting on it, im going to continue holding the crypto um. If i were a fiscal advisor, i wouldnt be telling people okay. Now is the time to get out, sell it a loss. Well, no, i mean, if youve already gotten in – and this is the other thing ive invested responsibly – i didnt dump my life savings into crypto. I dumped a few thousand dollars into crypto um. I also received donations, of course, thats risk free effectively so im in a different vote than someone who very dumbly decided. And if this applies to you, i really feel sorry for you youre a clanker, and so you get a pass because youre smart in many other ways, because you understand my material, your clanker so clank on. Even if you cant afford a spoon necessarily right now again, there is sympathy there ive been there done that if you invested all of your wages or something into bitcoin or started getting paid in ethereum or something like that under a contract, you, you done goofed dude, Because youre not supposed to do that, no reasonable person does that unless they are really at the top one percent theyre politically connected and they can get a zero interest loan and the government will bail them out if they fail, if youre in blackrock or vanguard or Something yeah dump a billion dollars of taxpayer money into crypto.

The government will make the checks good, even if you completely screw the pooch china, by the way, does this its a cancer on our economy. If you are, though, just day trading and stuff like that, investing more than you can afford to lose is always a bad idea. It doesnt matter. If its crypto, it can be a business, it can be stocks, it could be dumping money into a mutual fund.