I read yet another article by some old man out there. I believe his name was robert. We dont need to get into last names, but this fella thinks the cryptocurrency or or the better, so called ponzi scheme of cryptocurrencies out. There is going to zero, because that is what it is: a scam, a ponzi, a pyramid guys. I want to talk a little bit more about this in this video, because i know there are a lot of skeptics when it comes to cryptocurrencies, especially when the fear starts to spread like wildfire. You get these just you get these weird guys that pop up out of nowhere telling you that its worthless and and its a ponzi scheme and its a scam and its going to zero, and it further drives the pressure down. Well heres what you need to know. Okay, if you are informed about what you own guys like this this this whole guy robert here, they cant scare you they cant scare, you into selling your assets and then buy them while theyre cheaper, so that they can make the money on the way up. So lets talk a little bit about cryptocurrency and whether or not its a ponzi scheme thats going to zero and if it sounds like something youre interested in lets get started. Music whats up everybody, im clay im here to make 2022 the best year ever you can. Click that subscribe button make sure to subscribe to the channel.

Join us become a bro. We are here every single day and we are growing our portfolios together. Look if youre brand new to investing you dont know how or where to buy stocks and crypto. You got a link in the description below for weevil. It is super simple to set up your account. Any deposit is gon na. Get you guys six free stocks right now. One dollar crypto trick is your five dollars and free crypto. If you guys want a crypto exclusive exchange, youre gon na get fifty dollars in bitcoin for signing up making 100 trade on voyager, also in the link down there, or also in the description down there, and you can actually earn 14 plus percent. Just by holding your cryptocurrency on their platform make the 14 while the bear market is on man, and then you know start adding in when youre ready to go off. This dip. Well lets talk about this. This fellow robert here says that cryptocurrency is a ponzi scheme and we are going to see an economic depression very similar to the great depression way way way back a hundred years ago. Simply because of the speculative nature that is being driven by all of us. Young idiots that are out there buying a fools gold in cryptocurrency that nobody can even explain. Well. Robert lets lets break it down a little bit in order for a ponzi scheme or a pyramid scheme to take place. What do we need? We need a continuation of investors, the guys up top man.

Do they get rich? How do they get rich? Hey? You can even be mid tier and youre still going to get rich. If you know when to get out so in order to have a pyramid scheme, i need to find investors. I need to find investors to pay those investors. I need to find new investors to pay those investors. Everybody theres theres, no returns, theres being that are being generated, theres no value that is being generated and and the the gains that people see in a pyramid scheme are driven by new investors coming in from the bottom. Well, he is correct. Okay. This fellow robert here is correct in stating that all ponzi or pyramid schemes will eventually come to an end. Now lets say its the worlds best pyramid scheme ever eventually all people will be involved and then that that bottom layer will not get paid thats when it starts to fall apart, and that is when its over. So yes, i do agree. All ponzi, all pyramid schemes will come to an end. Cryptocurrency is not that heres. What a lot of people dont in i get it i get it. You guys understand it right, but heres what a lot of these guys! This is their argument. Theres no value in some magical internet money, theres no value in something the that doesnt have value. Is there argument right its not gold? I cant make a shiny bracelet out of it its not a silver, its, not copper.

I cant use it in wiring theres. No real utility, unless it is physical now, but they will back the united states dollar every day of their life. What backs the us dollar? I mean i. I know this is not an argument that they can keep up forever. Nothing backs the dollar theres, no gold that backs the us dollar. Some people argue that the military backs the us dollar. Some people argue that you know its a universally its a universal, safe haven that everybody flocks to the dollar. During times of political uncertainty, we have seen that they can print as many dollars as they want. They can devalue the dollar at any time that they want when the united states government can come in and when they switch over – and i say when not if, when they switch over to a digital dollar, dont be surprised if they dont even accept your current dollars. As currency dont be surprised, if the us government doesnt say well, you know what, in order to create a more equitable playing field, what were going to do is any us dollar. You currently have wiped out youre gon na get a new us dollar or u.s digital dollar and heres the thing because we admire equity so much. I dont care. If you had 250 billion dollars. Mr musk youre gon na get just ten 000 us dollars, like everybody else, great reset ring a bell. This equitable format ring a bell.

This stability of a us dollar ring a bell yeah, so at any given time, the us dollar is not stable. The only reason it is around is because people accept it as a form of payment, it is as simple as that. It is not stable and one day i mean if they wanted to it could collapse as well. Cryptocurrency is very different and i love cryptocurrency in this sense right. Im, not a huge proponent proponent of everybody, is, is on a level play dude, you choose what playing field youre on okay, you choose how hard you want to work. You choose your ambition and, and unfortunately you know thats, it doesnt seem like thats. The world were living in right now, but lets talk about why cryptocurrency is not a ponzi scheme and why it is not going to go to zero, and i do agree with robert and all of these old guys out there that tell you it is riddled with. With scams and theft – and you know regulation could do some good in the cryptocurrency space, but if we just look at bitcoin right, if we look at this cryptocurrency that is, is essentially worthless. If nobody wants it right, we can remember stories back in 2010, 20 really early on. I forget, when the the national pizza day is right when that guy bought two pizzas for 10, 000 bitcoin, but prior to that people were trying to sell bitcoin on different online forums and online sales sites.

You know similar to ebay, amazon and so on. They were trying to sell 10 000 bitcoins for 50 bucks and they couldnt do it. Nobody wanted them. They had zero value at that point and we have created a value simply because people want to buy in now heres the underlying value to a cryptocurrency, specifically bitcoin. You know theres a theres plenty of other cryptos out there that we could talk about, but cryptocurrency in general. The underlying value is that it is decentralized. Now, like i say at any given time, the united states government decides that your dollar is worthless, that they dont want to accept it anymore, that you have to move over to a digital dollar and and mr musk, it doesnt matter. If you have 250 billion dollars, youre getting 10 000 like the rest of us, they can decide that they are the central authority. Bitcoin is extremely different. Bitcoin is made up of cryptocurrency miners, this decentralized network built on a blockchain and what these decentralized miners do is validate every single transaction. Now its not a centralized source where, where was one guy or one authority, where one business has the decision to validate or not validate those transactions? As long as one person across the globe keeps their computer turned on, those transactions are validated if two guys yeah, they dont, even have to know each other exist across the globe. Keep their computers on those transactions get validated, and you can be rest assured that unless they turn the internet off, unless they take the electricity away, bitcoin will continue to thrive, regardless of whos out there telling you its bad, regardless of who out.

There is telling you its going to zero and regardless of the value it has against the us dollar, it is something people are scared of, because of that decentralization. It is something that people do not understand because of its its its imaginary concept, its, not a paper dollar that i have in my hand or a gold coin that i can bite in my teeth is it is a digital asset that is owned and controlled by Nobody – and that is a dangerous concept, but is it going to go to zero eight times going to tell right it could go to zero? It could go to 50 trillion if they ruin the dollar. I want to know what you guys think down in the comments below guys like this robert fella, that are trying to tell you its going to zero weve been talking about it. We know theyre coming out of the woodwork when the prices are going down. Man, they start to get loud when the prices are going up, they shut their mouths. I wonder what you guys think down in the comments below. If this button right here is still red, make sure to click it subscribe to the channel join us become a bro. We are here every single day and we are growing our portfolios together. Clay bro, 883 on twitter and instagram.