Bitcoin has been one of the most lucrative investments to be in during the last few years, but will it continue to be so, say, in the next 5-10 years? A Bitcoin Bull and a Bitcoin Bear battle it out.
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How the calculation on gold was made:
50 B.C. yearly salary (Caesar legionnaire) = 225 silver denarii = 9 aureus = 2.6 ounce of gold
Source: https://en.wikipedia.org/wiki/aureus
1900 average American yearly salary = 40/59 * $675 (40-hour week) = $458
Source: https://bizfluent.com/info-7769323-history-american-income.html
2019 average American yearly salary = $65,836
Source: https://policyadvice.net/insurance/insights/average-american-income/
50 B.C. price of 1 ounce of gold = 12/2.6 = 4.6 months of work
1900 price of 1 ounce of gold = $20.7 = 0.45 months of work
2019 price of 1 ounce of gold = $1,393 = 0.25 months of work
Source: https://www.statista.com/statistics/268027/change-in-gold-price-since-1990/
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This video has been in the making for quite some time. During the last few weeks the volatility of Bitcoin has caused some of the comparisons I make here about the market cap of the crypto to be a little off, but in my opinion, not by so much that the comparisons lose their meaning. I just wanted to be clear on that. Some of the data is from the end of May 2022 because of the long lead time of the production of this video. Hope you enjoy it nonetheless!
12:15 do people actually believe this? It's much more prudent to compare this to the difference between fiat currencies rather than the comparison here. Not to mention that if you do use several crypto currencies, you are aw to make up for the shortcomings of all other crypto you use.
Great video. Thank you!
This whole bitcoin proof-of-work protocol can be easily crashed with a single capable quantuum computer. I think that it's still possible to benefit from this legal ponzi scheme that greatly simplifies the transfer of wealth from gready f00lz to patient speculators.
8:41 now I get it. bitcoin is meant to be hodled as value goes up and fiat is for spending as the value diminish.
Great video, Id give this one to the bear. However, I think the arguments made in this video against Bitcoin are a little more easily defended in the case of Ethereum, especially since its switch to POS.
👆👆it’s an amazing and exciting moment when this intelligent man helped me with a new mining process then I received 2btc in total on my coinbase wallet balance … I’m really grateful to him and he’s the best I’ll always recommend 💯
This is a good unbiased video on Bitcoin.
Bitcoin is the internet of money.
Bitcoin has a very important use case. It lets you store your wealth outside of traditional, corrupted financial system. It's decentralized so you posses your own keys. In addition, it lets you transfer your wealth anywhere in the world and send any wealth to anyone, anytime with just few cents.
Thanks to Lightning Network, Bitcoin can process 40,000,000 TPS. Not 3-7.
In addition, Lightning Network solved high transaction problem as well. You can send 200 million dollars with just few cents.
OH already mentioned that in video 🙂 Nice work Swedish Investor.
Great video! I was buying into the argument that Bitcoin is a good investment because it is a store of value like digital gold. But fortunately just before the 2022 crash, I realized it is a false argument. Why? Let's assume Bitcoin is a perfect store of value, it means if I sell a car and get a Bitcoin, I can then sell the Bitcoin and get my car back. But actually most people investing in Bitcoin hope that they sell a car and get 2 or 10 cars back. How would that be possible with "store of value"? The right expectation for store of value is to get what you put in back with a minor loss which is the cost of running the network. Otherwise, it is just a Ponzi scheme.
Success seems to be connected with action. successful people keep moving, They make mistake ,but they don't quit . The stock market has plenty of opportunities to earn a decent pay, with the Financial Adviser, I make around $3000 weekly using service of an expert, MRS; MICHELLE HOWARD.
The worst bull argument is that central banks would somehow want to forfeit the control of their own currency in favor of something they have zero control over.
dex > banks
fuck banks
Fantastic job! Thank you!
some bubbles have long time period then ten years and more so …be just aware …big people are doing just trading and they will be out early then you.
I’d buy bull argumentation: relatively less people owns bitcoin now, and with increasing Internet adaption and education more and more people would be interested in owning anti-inflation money
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For more study about Bitcoin follow:
Lighting network
PoW vs PoS (network security and decentralization)
Energy consumption of BTC vs VISA (one tool vs whole monetary system)
Company like Strike
Town in Switzerland – Lugano vs Bitcoin
trading on your own is very risky I have lost a lot money trading for my self so I wouldn't advise anyone to do the same .
increase in mining difficulty. halving Rising energy prices and rising BTC cost with inflation. increasing number of miners and a certain amount of supply to be mined each year. At some point, btc will be so expensive that people will look at how many satoshis, not btc, and maybe 1 2 satoshis will be worth millions of dollars. probably the last btc will never be mined and forever minted btc will be halved.