Home Bitcoin News Here is Someone Who Understands Bitcoin (BTC) Perfectly

Here is Someone Who Understands Bitcoin (BTC) Perfectly

Here is Someone Who Understands Bitcoin (BTC) Perfectly

Peter Schiff Shared: Someone shared this video with me. This gal really nailed it. She understands Bitcoin perfectly. Maybe she should join the board of MicroStrategy.

For clarity, Peter Schiff points to a You Tube Video titled a normal person explains cryptocurrency.

The transcript of the video content: “I mentioned my cryptocurrency success and everybody responded and was like, can you please explain cryptocurrency because it is challenging.

I understand it is challenging, when you are first getting involved but when you continue and you give your life to it you do end up on top. So, if you aren’t familiar with crypto currency basically what it is if you have ever been to a bank.

So, you have heard of money. There is if you go to a bank and you say hello, I would like 2 dollars, they would hand you 2 dollars. And, so there is an online version of it.  So, when you – at the bank you take those 2 dollars and you say, hey, I am going to put them in to my wallet.  That same wallet you can actually have as a virtual wallet. That has it is kind of like money, but it is not, because it is not real. But it is real to the people who want it to be real. And that is called cryptocurrency.

Like we have one-dollar bills and 5 dollar bills they have Bitcoins and Ethereum. And, you can use those different types of money coins to buy things. There are also different alternatives like what are like non-fungible tokens, which are its art – just invest and you will be happy.”

Community Response:  Fidelity “Gets it”. Mastercard “Gets it”. Amazon, Tesla, & Walmart “Get it”. Facebook “Gets it”.

SEC Chairman Gary Gensler “Gets it”. The top technology advisor to President Biden, Tim Wu, “Gets it”. Peter Schiff does not “get it”. Bitcoin.

Those companies don’t get it, they just want to get in on it. They want to get their piece of the action before the music stops.

Garry Gensler, the chairman of the SEC, wants to “get in on it”? Have you watched his 24-part MIT lecture series on Bitcoin? Are there any MIT lecture series on gold?

Look at that, the no of grey hairs on your face increased proportionately to BTC’s price action, yet you are at the same place that we left 10 years ago!

Bitcoin is very simply a Game Theory exercise, Peter. What you don’t realize is that applying Game Theory, the statistically led decision is to allocate a small part of your portfolio (even <1%) to Bitcoin.

Young people prefer crypto. Old people prefer gold. Which one is the future?

I do have exposure to cryptos and they have served me well. They will be part of the turf war that will ensue. What I also know is that China and Russia have formed an economic axis that is here to stay. These guy deal in hard assets. Gold!

Like how the music has stopped in the gold industry. Such bad returns isn’t it compared to BTC. Who is smarter? being in a place where it “might” stop or being where it HAS already stopped?

Without bitcoin you wouldn’t have any character or things to rant about. Your just sore you didn’t get in when Max told you too.

Are you just anti Bitcoin or Blockchain technology in general?

Bitcoin puts food on the table for you.   You just don’t realize it or maybe you do, which is why you keep talking about it.

Let’s say we go back to a gold standard enhanced with blockchain technology. That gold has to be stored somewhere. That somewhere is a centralized party you have to trust. We are now back in 1933, where it can be confiscated, and the supply can inflate infinitely.

“They just want to get in on it” Yes, they want to “get in on” the hardest money humanity has ever seen. The question is, why don’t you (aside from the fact that you have a business that SELLS gold)? The only one with the conflict of interest is YOU.

Everyone wants to “get in on” bitcoin. Nobody wants to “get in on” abundant metals that are less fungible & less saleable across time and space.

I don’t think you understand how intelligent cryptographers and computer scientist are. Try this, smash your phone and put it back together, and guess what, you only have to work on the software portion. Let’s see how far you get.

Even his son gets it. He’s way too old to understand.

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Steven Anderson

Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche. Send a tip to: 0x200294f120Cd883DE8f565a5D0C9a1EE4FB1b4E9

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