Popular YouTube economist Patrick Boyle trashes Bitcoin.
Bears are are in full force. Comments are having their victory laps
This is same guy who cries everytime YouTube demonetized his video when he talked about Jeffery Epstein.
I like his insights on different economic topics but he has a tremendous blind spot. He is still linking shitcoins to bitcoin. Saying the corn has no more new buyers and Wall Street pump and dumped it.
Oh and Bitcoiners are the same like Jugglos of ICP fame. Hahaha this guy!
The information in this video isn’t bad he makes some good points about MSTR and miner profitability pressure but he completely misses the value proposition and many YouTubers will follow this guy into fiat hellscape.
Does it Stoll count as crashing if we've been at 68k for a week or a monthnor whatever of has been? Seems a little dramatic...
The headline got my hopes up that bitcoin got even cheaper.
He comes so close to getting it because he starts out talking about digital gold and then the big tech stocks.
What is the difference between a asset like gold which has been around and used for many many thousands of years and a company that was created five years ago and is not proven? While there are many differences between an asset and a stock in a company, one of the biggest differences uncertainty in the lack of knowledge.
I've said many times that one way of thinking about bitcoin is that it is an asset, a digital asset like a digital gold, but that understanding of the utility of the digital asset is still rather limited.
When you compare a company like IBM to a company that has only existed for two years. The company that has only existed for two years has much more upside but also much more risk. Because it is not proven. The bitcoiners don't like to admit that, but to most investors and people on the street, Bitcoin is still unproven.
Price, market price, that is, is an indicator of where the masses are on an asset. And the masses are not convinced of the thesis of Bitcoin as of yet.
It really is that simple. The price does not prove that Bitcoin has no utility or will never have utility. The price is simply a point in time reference to how people value Bitcoin.
I actually like him. I wonder if he's just never met an actually intelligent bitcoiner
Many such cases. Was getting to know my current boss and she asked about my hobbies and interests. Got into bitcoin and she said she'd never heard anyone look at it like I expressed.
I think we Bitcoiners get in our circles and forget that most people that talk about bitcoin aren't even like us. Let alone the normies.
Its why I harp on this. We are so early. Many hard lessons still have to be learned. Or as @DarthCoin says. Bitcoin is for the brave. It requires responsibility and most people only want easy money.
They are few and far between, unfortunately:/
The more people dancing on Bitcoin's grave the better. Usually means we aren't far from a reversal.
...Just don't fucking dance
When someone complains about problems but doesn't offer solutions or keeps repeating the problem they aren't looking for solutions. They are looking for attention. Far too many only use this as a means to get attention.
Don't get me wrong. Posting to multiple platforms including YT is fine. But if they aren't exploring other options at this point they're either dumb or disingenuous.