A Dangerous Argument: BTC vs Blockchain



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20 Comments

  1. Good job! BTW, I received an email on one of my low-use GMail accounts using your YT name – I can send you the details if you like – I am pretty sure it is the scam you mentioned recently.

  2. Would you feel comfortable wearing a surgically attached mouth piece to breathe through and for a Government (or) Corporation to have a remote on/off switch for your air? No that would be crazy. So why do you allow your livelihood to be so controlled?

    We have all been conditioned by our respective “establishments” to think a certain way as being normal… When Heidi (and others) point at “Venezuela, Cuba, Iran, North Korea” and talk about financial disaster taking place in these locations please consider that these countries are having financial war waged against them. They have been put under Import / Export blockade for starters. Forget for one minute what we have been conditioned to think about who is “Good” or “Bad” and simply acknowledge right or wrong, these nations have had their economies crushed. Their “air” has been cut off via very specific financial choke points such as access to global credit markets and financial transfers (all necessary for any Trade) such as SWIFT. Understand that our Financial systems where built with a kill switch.

    If an entity is powerful enough to switch off a whole country and kill their national currency, and bankrupt them even though many happen to have vast natural resources. If a nation can be brought to its knees and held there for decades what do you think they can they do to an individual’s bank accounts, and any recorded asset such as land titles or shares? This is not a situation we should allow.

    Let me make this super clear & easy to those who still think “Russia’s”, “Korea’s” or “Eskimos” or “Blacks” or “Buddhists” = Bad and US, UK, Australians or “Elves” = Good. Sadly, it is not so “black and white” as this is conditioning. The German foreign minister (Heiko Maas) suggested * this very month * that Europe now needs a financial system independent of SWIFT…. So are “Germans” suddenly bad? There is a game that you and I are not part of. It’s a game played for great riches and power among elite fr-enemies and we are all just pawns. The game is run by the (less than) One Percent and you have been made to rely upon their mercy.

    We need a solution that removes all kill switches and gross controls over our ability to breathe, communicate, and trade. Bitcoin created one such solution and it does not matter who you are, where you live, you need to at least identify its message. Take charge, protect yourself, your family, and your neighborhood against powerful entities that have design systems with kill switches and control. You cannot live for long without air, so you need a solution before you are forced to find one. Good luck to all.

  3. Bitcoin (BTC) hasn't got a future because for the moment it can't be used as a currency and like Samson Mow quoted – Bitcoin isn't for people who earn less then 2 dollars a day.

  4. HI Heidi. Great show as always. A few comments. Firstly your enthusiasm for Bitcoin is infectious. That said, in terms of countries like Turkey or Zimbabwe etc. I think while Bitcoin is still on the fringe of most societies it can somewhat ride under the radar, but I think if a lot of people in countries with hyper inflation moved their money into Bitcoin you would for sure see those governments make attempts to regulate that or even stop it since selling the national currency only causes its price to drop further. I think if governments feel Bitcoin is a threat they can very easily shutdown those exchange fiat to crypto gateways. Of course the fringe can always find a way around it, but not the ‘masses’ Thus I think Bitcoin is still somewhat vulnerable at this stage in all sorts of ways. Price manipulation, fiat gateways, mining consortiums. Over time, all of this should improve but I think processes that disrupt industries can take time and esp. governments can and will fight back if they feel they might lose control. As for blockchain versus bitcoin, I see a distinction only in that blockchain projects I think are less tainted with all financial chatter around price action, people using it for drug dealing, price manipulation and so forth. Of course Bitcoin is just the blockchain project for finance, but it’s the one getting the positive and negative media attention. Projects like POWR I think are perceived in a different light at the moment even though they may be less important than Bitcoin for the overall Crypto-ecosystem and the potential major change coming to finance. That all said, I’m very confident Bitcoin will prevail because its almost becoming a generational thing. The people in their 20’s today will be running the Banks tomorrow and they are the ones creating the future. It will probably take 20 years for this to happen, but I am sure major changes are coming. We just have to be careful of timelines as I think people expect a lot of change in a very short term and I think movements like this take time. Thus I think people should forget about the price of bitcoin and just come back in 3, 6, 9 years. In 3 years we will be celebrating Crypto Tips getting its 1 millionth subscriber.

  5. Great video and well said, Heidi! I completely agree. When people say, "Bitcoin is irrelevant", and "blockchain is all that matters", they are just revealing their ignorance. Interestingly, their own argument itself is silly, because Bitcoin is the first actual implementation OF blockchain, making their argument's very own logic flawed to begin with. Bitcoin is the gold standard of blockchain, and will always be, because of its inherent qualities and because of popular consensus. Why does consensus matter? Because popular consensus reveals TRUST, and implies popularity. Consensus is when lots of people agree on something and are validating it by their involvement in it and usage of it. Not only that, but this isn't just "signing up for a free account" somewhere, people are validating it with their very own hard earned MONEY. Thus making this form of consensus extremely powerful and massively significant. No other blockchain has anywhere NEAR this amount of consensus, trust, usage, validity, volume, or liquidity. It isn't because "we want it this way", it is because Bitcoin is a finite resource, impossible to be "magically created" or hacked (despite some know-it-all pundits would ignorantly claim it as "magical internet money"), and Bitcoin serves as a permanent and secure store of value (devoid of third parties!), as well as a measure of value that cannot be changed, and also is an inherent medium of exchange (something that gold is not – ie. gold does not have an exchange system like Visa or ECH or the Swift System built into it, whereas Bitcoin does). If one person were to sell all their Bitcoin, another person would buy it. Why? Because there will always be someone who understands all this better than that other person, and what that means, and they will always buy it. And because of this consensus among more and more people every day who begin to learn these finer points will turn to it more and more. It is like Facebook. You think everyone uses it because it is the best and most secure, privacy-friendly platform in the world (and doesn't track everything you do)? No, it is because of CONSENSUS. Everybody uses it, which naturally increases its value. This is why Friendster and Myspace failed. Everyone settled on ONE platform. And, similarly, everyone also settled, via unspoken consensus / trust / popularity, on Bitcoin. And that won't change. You could also try to create a new Facebook clone and hope everybody will jump ship, but that is highly unlikely – whether we like that or not (its been tried, a few times). It is a principle of crowds and how they operate. It is just like the internet in the 1990's – after the initial minority who "got it" then, more people will slowly start to understand the usefulness and value of it, just as they will start to understand these inherent qualities of Bitcoin and start to buy it over other less-trusted, less widely-used blockchains. The people who understand this already are the ones buying it for these reasons now. Will it go down? Of course. Will it crash to $1500 or lower? Probably. Will it recover? Most definitely. Because there will ALWAYS be buyers of Bitcoin; the cognoscenti, the digerati, whatever you want to call them. And there will only continue to be new buyers as more people learn these things. For those of you who would argue that "not enough people use it day-to-day as a medium of exchange and therefore Bitcoin is irrelevant", let me ask you the last time you used gold to buy something at the supermarket. And the funny thing is that we are actually CLOSER to using Bitcoin at the supermarket than gold. And gold is irrelevant, too, right? Nobody buys or sells gold or gold derivatives, right? Of course they do. Bitcoin is here to stay, whether people like it or not (or understand it or not). Keep thinking critically and keep learning! Thanks again, Heidi.

  6. Cryptocurrency as an application of blockchain tech is obviously still top dog. Bitcoin in particular was created with a deflationary model so that the value continues to rise. The Deflationary model plus bitcoins slow improvement (it's surpassed technologically by other chains) invokes gresham's law and ensures that it remains a store of value rather than a currency with the economics necessary for common use.

    So in the case of citizens under regimes that are inflating their currency, it may remain an excellent option to preserve wealth against the inflation tax for a long-time.

  7. Thanks for the video young lady! I fear the whole world has a whole load of volatile situations going on. It wouldn’t take much for the whole traditional system to capitulate. So it’s almost like we have now got a backup system for those who listen and learn. Keep up the good work and again thanks for your videos!

  8. the 'Blockchain is good, Bitcoin is bad' argument exists because most people don't understand that without the currency aspect, there is no incentive to maintain a decentralised blockchain. So by endorsing blockchain people like Jamie Dimon are inadvertently endorsing Bitcoin too. Seems more likely to be ignorance rather than some hyper intelligent evil genius plan to co-opt blockchain, discard Bitcoin and replace it with their own centralized version without anyone noticing.

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