"Bitcoin Ain't Going Up" Mark Cuban Crypto Interview
Bitcoin aint going up were having a lot of inflation right now: gold aint going up Music, hello, everyone today our guest is mark cuban mark cuban is an american billionaire entrepreneur. Television personality and media proprietor, whose net worth is an estimated 4.7 billion dollars according to forbes and ranked no 176 on the 2020 forbes 400 list in this video mark cuban speaks about the web 3 and blockchain industry in detail. If you enjoy this, highlight videos, please kindly subscribe and help share this video for us to share more of this valuable content. Thank you, jack dorsey announced at consensus 2022 that tbd the bitcoin arm of block is working on a new vision for the internet. Something is calling web5. The potentially revolutionary technology will be designed to allow users to take control of their own data, rather than giving it away to third parties with the invention of bitcoin and blockchain. The world is now moving towards web 3, which centers around decentralized applications using zero knowledge proofs to secure data, tokenize content and protect users identities, while web 3 has yet to establish itself as the dominant technology of the internet, jack dorsey believes it is already time for A change this change comes from what he calls web5, which will be built on top of bitcoin where data is stored with the user, not the application. Web5 will be built on top of bitcoin and will not require any other tokens to function.
The idea of web5 is a bitcoin maximalist approach to innovation that, if successful, could eliminate the need for any cryptocurrency other than bitcoin. In this talk mark cuban explains his vision for blockchain space with crypto theres, a lot of similarities with the stock market. Theres, an old saying that ive always had in the stock market that everybodys a genius in a bull market yeah. You know where, when stock prices are going up, everybody will tell you what stocks theyre buying right. When stock prices are going down, everybody gets really really quiet and its the same with crypto. You know when ethereum and bitcoin and some of the others are going up. Everybody will tell you how smart they feel, but when they go down you know no one wants to say a word and the reality is you have to look for the utility or the value of any investment that you make. You know you have to say. Why are people buying bitcoin in in reality, bitcoin? Just like an nft is a digital version of art. You know we compared it to the mona lisa. Bitcoin is a digital version of gold right gold. You know people say well. Gold has real value as jewelry. Nobody needs gold jewelry. Well, i dont know people want gold. I know right now right. No, but i hear you, i hear you its a its a commodity, yeah yeah people, people like gold jewelry, because you know it it keeps a shine, etc, etc.
Theres a lot of reasons to love gold as jewelry, but if, if gold jewelry went away the world wouldnt change yeah, you know and theres only a really theres a few manufacturing applications. But gold has value because people assign it value and thats. Those types of investments are called store of value, theyre kind of like commodities, like you just said, bitcoins the same way, it just happens to be digital, its limited by an algorithm and how many thats created so theres a scarcity factor you cant just create it forever And because of that, and because its easy to transfer its easy in some cases to use for cross border payments between country people in different countries, so theres some utility, but mostly people, buy bitcoin and own bitcoin, like i do because other people own bitcoin, just like People buy gold. Now you hear a lot of stories. Bitcoin is a hedge to inflation. Gold is a hedge to inflation, its not its, not you know, were having a lot of inflation right now. Bitcoin aint going up were having a lot of inflation right now. Gold aint going up, you know theyve, they bounced around pretty much where they are, and so youve got to understand if youre buying, bitcoin its a store value and like any store of value, gold or otherwise, its the price is based on supply and demand. When people are selling more people are selling them buying, it goes down when more people are buying than selling it goes up and again, thats not a whole lot different than the stock market either.
You know, tech stocks have gotten crushed worse than bitcoin and ethereum. Now, ethereums a little the theorems a little bit different right. Ethereum has some level of utility where you can use it for transactions. Most um nfts are bought and sold using ethereum, and so when i look at any of my crypto investments thats the first question: i have what is the core utility of it? What value does it serve and so thats? Why i own more ethereum than i do? Bitcoin now that said again when, when all tokens like stocks, have some level of speculators in it right people who arent long term investors they just want to buy because they think its going up. And so when a market loses those speculators and that were losing a lot of them now, because interest rates are going up because if you, you know, when you had your choice of putting your hard earned dollars in the bank and earning 0.1 percent interest, youre, probably Going to speculate more, but now that inch rates are going up, people are speculating less and you cant borrow money to speculate as inexpensively, so they speculate even less and as a result, stock prices are going down. You know i own amazon and netflix. Those prices have gone down more than my bitcoin and my ethereum have gone down, but thats just the way it goes, and so you know at this point in time. What im doing is looking to see, or is there anything there thats gotten so cheap that its time to really take a strong look at starting to buy some and ive dabbled? You know when, when ethereum gets down under to you know under lets, say 1800 ill buy a little bit when um bitcoin gets down under 28 000 ill, buy it just a little bit because its really hard to predict how low its going to go.
So im not i havent gone all in yet its like anything. Its like ive, been around long enough to the early days of the internet, right where people would put up a website, raise money and say theyre going to do all these amazing things. And then the internet stock market bubble burst and nobody could deliver on anything. And so youve got to know as a creator, no matter what it is, that youre creating youve got to know the expectations of your buyer and youve got to be really really confident that you can meet those expectations, because if you dont, then your brand is crushed And now, all of a sudden, you went from being this amazing creative person to the person that yeah i created this. You know you, i trusted you, you created some amazing work, but you couldnt meet the expectations that you set and its because people dont fully understand how all this works, that they, like you, said they over promise and under deliver and thats a real problem. So you know all the things we just talked about with web3 and tokens. Then you know two three three years ago i didnt know 99 of that i had to put in the time to learn it, and literally it takes a lot of time, its not something where you know you just you know, watch some videos and youve got it All figured out youve got to dig in youve, got to understand how smart contracts work youve got to understand what decentralization is how the dow works.
All those things weve talked about to me, thats hustling, to me, thats grinding thats, part of what you have to do to win a business nft could well become more useful in part and parcel of our lives according to mark cuban. His vision is that every token that is giving value will be successful and every token that isnt would collapse, do comment and share your thoughts about mark cuban analysis. If you enjoy this, highlight videos, please kindly subscribe and help share this video for us to share more of this valuable content.