My NEW Thoughts About Cryptocurrency

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My NEW Thoughts About Bitcoin & Other Cryptocurrencies
I’ve changed my mind on crypto!

So what did I buy? And what date did I buy them?

PURCHASE DATE: 12th December 2020 (PER COIN)
1. Bitcoin – $18,326.71
2. Ethereum – $564.52
3. XRP – $0.49
4. An entire basket of other coins which I thought would perform the best in the future including: XTZ, ADA, DGB, ZIL, VET, etc…

I wanted to publish the dates and figures so that I can be held accountable. If I’m wrong, you’ll all know about it!

The reason why I’ve changed my mind? I finally just completed my 4 month intensive study into the USD$ and it’s coming demise. I originally thought the USD would last another 20 years, if not 30 years, but now, I’d be surprised if it’s still around by 2030-2040…

This means that people & institutions will need to put their money somewhere and I think that many people will use Bitcoin as that investment vehicle

I’ve been waiting for the institutional investors to jump in, and now they have

Microstrategy & Square bought 100’s of $M worth of BTC, Paypal have also now gotten involved, as well as many big investors now. Even Fidelity is now recommending 5% portfolio allocation

It took me ages to buy the crypto I needed, by the time it was transferred, the crypto had gone up 5%, that’s a huge increase! Very volatile. But it highlighted to me one of the issues with the current banking system! And that’s what made me realise that the banking of today will be dead in the future. It’s too slow and inefficient

I’m still not convinced of bitcoin as an investment, I think it’s one of the greatest ‘inventions’ of our era, don’t get me wrong. It’s a fantastic utility, but for ME personally, it’s still not an investment, but I do see it somewhat as a store of value for right now.

Another concern I have is that the Central banks are not going to stop printing this time around… and each time they do print, they are destroying our wealth

So precious metals is one of the only safe ways I can see to protect against that. And logically, I see crypto as another option after precious metals

I just can’t see the Governments allowing BTC to compete with their tracking, tracing & control of what people can spend the digital currency on

The Governments new CBDC will be all about CONTROL. And BTC doesn’t fit that view point

In fact, it will be a competitor of their own currency which they will manipulate just like they always have done

The CBDC will not be a crypto currency because it will not be limited like bitcoin is. There is no way a central bank would want that, so they will allow it to be created into infinity just like Fiat currency can be printed into infinity currently

Even though I think some Gov’s will ban BTC, others won’t. So you will still have value in the BTC, but just in other developing nations perhaps

But even if it is banned in a lot of places all at once, such as the EU, Northern America, etc, big co-ops as it were, we don’t have a 1 world government, so they can’t ban it everywhere all at once, and as long as it’s digital and the exchange sits outside of those Countries, BTC will carry on

Finally, the other reason I think crypto could go up in value is due to a deleveraging scenario in 2022 onwards, but I’m not certain of this. It’s just a theory

In a deleveraging situation where the bad debts get washed away, people rush to safe havens like Gold & Silver. But they will be too late this time, so they will go to crypto instead

00:00 – Opening
01:05 – The Flow of Money
02:34 – My Crypto Portfolio
03:02 – Institutional Investors Impact
04:03 – Banning of Crypto?
05:54 – Is BTC A store of Value?
06:55 – Can Crypto Be Banned?
08:11 – Deleveraging Impact
09:21 – Why BTC Will Skyrocket
09:55 – Politicians Endorse BTC
10:19 – Can Governments BAN Crypto?
11:56 – FB Libra (now Diem)
13:08 – Easier Banking Transactions

DISCLAIMER
This video is for entertainment purposes ONLY & designed to help your thinking, not direct it. These videos shall NOT be construed as tax, legal or financial advice and may be outdated or inaccurate; all decisions made as a result of viewing are yours alone.