Cryptocurrencies Are a Bubble: John Paulson
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- เผยแพร่เมื่อ 25 ส.ค. 2024
- John Paulson, Paulson & Co. president and portfolio manager, says cryptocurrencies are a bubble and a "limited supply of nothing." He's on "Bloomberg Wealth with David Rubenstein." This was recorded Aug. 12 at Paulson's home on Long Island.
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That’s completely true, yet this will get lot’s of dislikes as people don’t want to hear this
Nope...ppl who do not want to hear are not shown this video by youtube algorithm...hahaha
Successful people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose is the result of hard work and hustle over time.
l advice everyone to start investing and never rely on just salary..no billionaire made it through salary.
As a forex trader, it's almost inevitable that you're going to experience some ups and downs along the way. Alertness and deciveness are both fundamental ingredients in the recipe for a successful forex trader.
Forex is a good market to raise your finance at a steady growth, you need a proper understanding and good strategy to become successful
@@davelake7883 You can only appreciate a person who tries to teach everyone how to invest and make profit on multiple ways Ups and down
Speaking of forex trading, it's the best business in the world right now.I know a couple of friends who make a whole lot of money trading the financial market
Think he’s getting confused with fiat.
Did not get u...
Where is full video
It's funny how everyone who is so sure that crypto will go to zero seem to have no conviction to short it.
Because those who know better are very familiar with the greater fool theory and bubbles. Fools can always drive the price up. It would be dumb to short such a volatile asset .
It's funny how the content of the whole interview goes over the head of "believers", even though the guy explained with very simple words why it would be beyond stupid to short for ex. BTC, regardless of it being a bubble, and ultimately worthless
@@berczigabor “volatility” is frankly a pretty weak reason to avoid a position, especially one you’re so certain of. It’s not going to 0 by moving half a percent a day. Don’t tell me what you think, show me your portfolio. I’m tired of people with no skin in the game acting like they understand the game.
@@stevemar8027 you’re telling me that you won’t long a stock you think will 10x because it’s “too volatile”? How do you think it gets there? I’m just saying, if one is 100% sure that it will eventually go to zero, it’s probably worth shorting. It’s just funny that when it comes to real money, these guys seem to be all talk.
@@Barweezy read what I wrote. I wouldn’t short a stock that is incredibly volatile. Short is different than long
30 hours of research into crypto currencies changed my mind. 200 hours in now and it's pretty clear to me that it's the future.
Crypto currency and blockchain are two different subjects...be careful...pls do not waste money after stupid cryptocurrency
@Alex Ray It’s nothing… it’s a bubble. Just an record of useless stuff.
Crypto goes against his gold bet he put on 13 years ago that hasn’t really worked out. Of course he’ll be against crypto. There’s no intrinsic value in the US dollar either except for the US government saying it has value . Crypto has value because individuals and institutions say it has value. I’m not sure what the difference is. I guess central banks can’t control value of Bitcoin by buying it, which makes it more like digital gold
You do not understand power of central force...
I just explained central bank authority. But this can definitely be digital gold. Gold has no industrial uses, it only has value because it’s rare and people want it.
@@DP-eo5xd usa has rule of law...usa has respect for human life.. usa govt has army..usa owns fertile land of north america...it owns oil wells in texas...it owns huge forests...it has 70 submarines...it has standing army of more than 0.5m soldiers ....more than 100 nuclear missiles...internet which allows us govt to stop ppl from communicating if usa decide...usa has great companies like apple ..google from which it can earn tax ... usa has Hollywood to influence cultures of asian countries......what is underlying supportof bitcoin...NOTHING...save your money...do not invest in bitcoin
@@jagatdave yes that is the US government but the dollar gives you no claim on any of those assets. All you are betting on is that America won’t fail as a country. So if Bitcoin has no country it is tied to how will it fail? Actually in a thousand years Bitcoin may still very well exist and be very valuable, but the US likely won’t exist as a country, or in any dominant shape that it is now. I understand Bitcoin isn’t “safe” it still has a lot of risk but to say it definitely is going to zero is foolhardy.
@@DP-eo5xd basic economics...will help you understand....that us govt can print more dollars if its budget is in surplus...usa can collect the tax...reduce..welfare scheme and get its budget in surplus...dollar is very strong currency
I wasn’t a believer in the crypto class either until I did my own research. Some of those coins are very well utilities.
Coins like Aave, Alchemy, amp, filecoin compound etc
I totally agree
At this point, I just click on these interviews to see David cause he is more interesting than the actual guest. We need a David Rubenstein interview.
Then short it. Saying it’s a bubble but not having the conviction to short is a man not worth listening to. Michael Burry lost tons of money shorting bitcoin and Tesla.
But someone will make huge
Because he knows there will always be fools who drive the price up with no valid reason. It would be unwise to short such a volatile and over-hyped "asset".
We will short it ...volume will be decided by us...price will be decided by us...time will be decided by us...we will short bitcoin..(dialogue delivery inspired by joe biden)
I wanted to buy a Pizza, but the price of my currency keeps changing…
Doesn't sound like he's done any research on crypto in 10 years. That's like saying a decentralized internet has no utility. Completely clueless.
Dude is almost 70, what do you expect. He'll be dead by the time cryptos become more relevant
what a nice house
Probably his house in Dorado, Puerto Rico. As a resident he pays zero capital gains tax and 4% max on income.
same thing is true about the dollar: its just a record in a database, there is no dollar.
This is a known tactic wealthy people use, they want you to sell so they can buy at a lower price!
There are lots of arguments which one can bring for or against cryptocurrencies but saying "it has no intrinsic value" just shows that he has absolutely no clue what he is talking about.
In which world is the intrinsic value of a metall, which is gathering dust in a save, worth more than that of a system which actually does usefull things (like the documentation of ownerships?
it is a long then....
Charlie Munger stated that crypto currency is “Rat poison.” Smart money bet is likely on Mr. Munger.
I hate to say it but Paulson is old school when he makes blanket statements like that on crypto. There are a few legendary macro traders who get crypto, but most don't as it is very technical (skews young).
98% of listed tokens will probably not make it. There he is right. Just like 98% of Internet companies during 1996-2000 didn't last. But those 2% of companies will have massive impact.
And, blockchain adoption will be way faster than the Internet. Global crypto population doubled in four months from 100 million to 200 million.
He's afraid to short cryptos 😄😄😄
Every time I hear someone say "There is no intrinsic value in cryptocurrencies" I know they do not know what they are talking about and have not done any research. Even cryptos with no business attached to them, those that are pure transfer of value instruments, have intrinsic value. Try transferring money on a Sunday or during a bank holiday with a hard deadline, and you will quickly understand the intrinsic value of an automated and instantaneous clearing system. Paulson is probably right on gold, but definitely wrong on crypto.
He doesn’t understand it, that’s why he says it’s nothing. If he can’t comprehend it then it has no value for him, just wish he’d opt not say anything if he doesn’t understand instead of spreading FUD. Typical stock market boomer groupie.
So the intrinsic value of crypto is associated with the ability to transfer it on a Sunday or during a bank holiday? How would you objectively and analytically quantify such value?
@@uberboiz that is just one example of many. Fact is there are more options and inclusivity with crypto. I’m sure you’re familiar with concepts such as web2, and web3. Digital consumption is big business, but it can only go so far with web2, web3 is taking it to another level completely. Even big tech like Facebook is building their own crypto ecosystem. Giving consumers that type of access will bring more value to everyone involved. Crypto is also helping us understand and work with data better, more efficiently. The technology itself is groundbreaking, has a lot to offer not only to the financial world for example insurance etc but technological advancements in general, voting is one example and I think we can all agree the transparency blockchain would bring to that is veeery valuable. People like Paulson have no need for crypto, it threatens what he feels should be valuable. There are other people though with very legitimate use cases for crypto around the entire planet, who provide and extract value from that market everyday. Nobody thought the internet would be what it is today, they had seemingly legitimate arguments back then that made sense but only from their lack of not wanting to move on from what they then knew to be valuable. Either way, it’s early days and there will be many growing pains and hinderances, skeptics etc. Koroche, blockchain solves a lot of problems, nobody loses anything by learning about it. Need not invest a single penny to participate. The technology is enough for anyone anywhere to do something with, in a lot of cases even thrive with..
@@adamjinx9932 If you are making the case for blockchain, I would agree with most of your points here. But blockchain and crypto are not the same thing - which means 'investing' in crypto is not the same as investing in blockchain.
To me, Paulson's decision and reason to not 'invest' in crypto is irrelevant to whether general public should put their money into crypto. If you put your money into something that cannot be objectively and analytically valued, it's more akin to speculating than investing.
@@uberboiz Blockchain is crypto though. Crypto assets is how you objectively and analytically value blockchain. These ecosystems can’t be run on the US dollar or any other fiat currencies. There needs to be native assets used to engage the blockchain for network effects. Tokenomics is essential, it’s what facilitates the technology to work and reach a whole new range of innovators, investors, consumers and frankly it keeps things honest and transparent in most cases. The digital space works with a different set of rules, using traditional logic to make heads or tails of it is illogical. Perhaps if you’d look at the value it gives the people who use it, what their experiences are, all that value didn’t come from nowhere, it didn’t go into nothing to give nothing to the people who are making use of the technology.
Okay BOOMER
Very good
Don’t be too greedy…
I aggree 100%
And I bet he thinks FIAT currency like dollar has intrinsic value, LMAO. Unlimited supply with no intrinsic value. Where does that leave you, Mr. Paulson?
You would lose that bet. Paulson knows the lack of intrinsic value of FIATs better than you or me.
He not only looks but also SOUNDS frail & weak
Rich ppl always speak with low tone voice ..they do not want to look dominating...they have money to get things done ..
As if any more evidence is needed that one has never heard him speak until now.
@@jagatdave David is more RICHER than him.
Its not even some 'relaxed' body language, it looks PHYSICALLY weak
@@NebkadBible Nope. There are LOT of interviews of him online.
@@pppinto97 no...I am talking in general..observe all the ppl who have earned more than 1 billion usd dollars ..self made billionaire...they are aware ..how masses will judge them...sad reality of 21st century anticapitalist world...
He’s just salty that he didn’t jump in on the best performing asset of the past decade :D