The key to true long-term success is the ability to admit wrong and change your convictions based on new understanding. I admire your transparency and willingness to change and adapt as your knowledge deepens.
I looked BTC so far as a super long term investment. If we have pricing tracker attached to our house, lot of folks wont be able to sleep because of volatility. Been here since 2017.
The financial “elites” and financial pundits can’t get out of their own way. They let their biases and ego get in the way so hfsp. Thanks for sharing how you evolved, Rajat. It takes a good man to look back and realize and admit he was wrong about something. You will be greatly rewarded with btc.
Your beliefs may be 100% correct, however it is important to also consider counterparty risk. Contrary to popular mantra, Bitcoin does carry some degree of counterparty risk. [mining network, code, internet, operating software, hardware, etc.]- additionally there is lack of fungibility due to traceability (unlike, say Monero). There is a reason central banks are buying gold. Physical gold has zero counterparty risk. (Of course, this isn’t meant to detract from your excellent points… just a note for additional consideration in risk mitigation strategy.) Thanks.
I appreciate your transparency on your journey of growth. When I first heard your content I was put off by the closed perception… but now I click every time I see new content drop . I appreciate your insights and knowledge you bring to the table . Cheers
We all go through this I found out about Bitcoin in 2014 it took me until late 2015 to understand it and that was only because of my finance classes. I realized how terrible and ineffective our monetary system was
Hey Rajat, just subscribed to you and I think your content about BTC is best on YT. You are a smart man and have thoroughly did your homework. Are you doing any Masterclasses on this subject? Or doing Patreon with deep dive content? I would be interested in learning from you!
Thank you, I appreciate it. I have a community on skool! The main value there is the live sessions and additional videos. Check it out here: www.skool.com/bitcoin-bootcamp-7077/about
We're all on a journey...and we all started at different times. I took BTC seriously when 1 Bitcoin cost more than 1 oz of gold. Been down the Bitcoin rabbit hole for 8 years now, and still learning. Keep at it Rajat. Mark in the UK.
I have to try so hard to not get triggered in YT comments every time I see a video with someone lumping BTC in with other crypto, and still calling it a scam 😂
Welcome to the light brother ;-). The next step is same as Saylor which that show had to learn as well, Nico use to hate on Bukele and Saylor. I called him out on it every time he did it. He just ignored me LMAO. Now he’s the biggest cheerleader for both of them. The biggest fools and scammers in finance are those who think they are experts. There are no experts in Bitcoin. Only those who are humble and HODLing. Everything else is trash.
If it costs me $100 to dig a rock that doesn't mean it'll be worth $100. I believe Bitcoin's value comes from it's scarcity not from its proof of work. The proof of work is necessary to keep the network running, so people can transact and to get the rest of the bitcoin eventually.
The chart makes it seem like a pump-and-dump scheme. Did you know Ripple controls something like 50% of the supply? Please let me know if my thoughts on this are wrong.
I'm not agree that mining makes Bitcoin valuable - scarcity makes it, sole purpose of mining is to make incentive to protect scarcity (well and to distribute in merit way). If you look around you will see proofs - art (especially if artist is unable to produce more of it), Gucci bags, Kopi Luwak, even gold - 90% is pure premium. Think about it - if for whatever reason we could not mine more gold - it would go up in price in similar way as Bitcoin.
If you plan on using bitcoin as a savings account, are you still investing in the stock market or are you exclusively buying bitcoin with all of your extra cash
What is money? Only gold and silver is money In the public, there is no money, only currency aka negotiable instruments which are governed by rules most will never read nor ever comprehend....luckily digital assets have arrived to save the day, but will it?
@@voluntarism335 Im not saying I'm a gold bug in any way, I do advocate reading and comprehending the UCC tho as everyone pretends to understand everything about legacy banking yet have no idea about the law side of banking like the UCC.....Brandon Joe Williams and Reclaim Your Securities channels are a mind changer on negotiable instruments
I used to buy bitcoin at $200 to buy weed online and let me tell you: only one of my friends had the foresight of where bitcoin was going and he held on to his bitcoin from before it was $100, I feel like a complete idiot now, now I’m trying to buy everything I can when big money is already jumping in, I work hard now to make money to invest in bitcoin, if you believe in God please pray for me, I want to end the cycle of poverty in my family and help my kids have a shot a better future, I made so many mistakes I feel so stupid now.
They own about 5% of bitcoins so no I am not concerned in the slightest about a little drop in the bucket. I’d say to blackrock go ahead and sell them. Don’t worry they will be bought back up.
All they can do is sell and bring price down temporarily. Long term they can't do anything (unless they're sneaky and take tiny steps to change the protocol)
The only concerning thing is how BlackRock and other ETFs donate to Bitcoin devs to develop the protocol. I'm sure they'll try to sneak something in that gives them more power or by extension the US govt more power. Maybe leads to another fork in the future where there's government/BlackRock approved Bitcoin and another fork us terrorists/murderers/etc use. You know because we're evil for memorizing 12 words and holding our own Bitcoin.
Bitcoin is still a nonproductive asset, and investment in real companies is necessary to have goods and services to be able to purchase. It would be terrible for the economy if a significant amount of capital was moved out of stocks and into bitcoin.
Hmm, I'm not sure if what I just wrote was in part prompted by your comment, but I think it's relevant, so I'll paste it here: "In addition to being a store of value, currently Bitcoin is (at least acting as) an investment. I think this is primarily due to increasing adoption, which is apparently more than enough to overcome the issuance (mining rewards). "If we eventually progress onto a Bitcoin standard, with all supply issued, and ubiquitous adoption and pricing in Satoshis, I think it'll continue to be a store of value, but mostly if not entirely cease to be an investment. "Imagine stocks priced in Sats. If the companies continue to produce and increase their perceived relative value in the economy, number (price in Sats) go up. If not, number go down. "I'm not religious (anymore), but it reminds me of the Parable of the Talents from the Christian New Testament (gospels of Matthew and Luke). With a more sane (less usurous) monetary system, I'm thinking it would still be good (financially and ethically) to keep putting our money to work, and flowing in the economy, instead of just burying it in our wallets. But until then, HODLing increases price, which will increase adoption, which will help us get there."
Capital based on what? People have lost sight that there is no viable practical way to store value. $500M dollars is printed daily. People collect stocks, houses, watches, art etc. because they are trying to store value.
@@postmodgent1499 The value created from producing goods and services in the economy should primarily go back into real businesses. How does it benefit the economy if all that capital just sits in bitcoin not being used in a productive way? The price of bitcoin is meaningless if there aren't enough goods and services to buy because bitcoin sucked all the capital investment out of productive activity.
The key to true long-term success is the ability to admit wrong and change your convictions based on new understanding. I admire your transparency and willingness to change and adapt as your knowledge deepens.
Yeah for sure
This is the one that got me curious on BTC th-cam.com/video/06Yppa4fzHI/w-d-xo.htmlsi=Ctwi90vghyJrnbxc
I looked BTC so far as a super long term investment. If we have pricing tracker attached to our house, lot of folks wont be able to sleep because of volatility. Been here since 2017.
Which one to y'all use? Does it have enough digits?😂
Nobody can change, bitcoin!
But BITCOIN will change you!
@@billpickford1988 actually we can change bitcoin 🤓 It’s happened a few times already.
Thanks!
The financial “elites” and financial pundits can’t get out of their own way. They let their biases and ego get in the way so hfsp. Thanks for sharing how you evolved, Rajat. It takes a good man to look back and realize and admit he was wrong about something. You will be greatly rewarded with btc.
appreciate your channel and your honest thoughts!
Well rajat you got bitcoin before the etf was approved these past 4 years well done.
Most people still have no idea.
This is a great point
I was ahead of most financial professionals!
Your beliefs may be 100% correct, however it is important to also consider counterparty risk. Contrary to popular mantra, Bitcoin does carry some degree of counterparty risk. [mining network, code, internet, operating software, hardware, etc.]- additionally there is lack of fungibility due to traceability (unlike, say Monero). There is a reason central banks are buying gold. Physical gold has zero counterparty risk. (Of course, this isn’t meant to detract from your excellent points… just a note for additional consideration in risk mitigation strategy.) Thanks.
Bitcoin develops our character. We go from high preference to a low preference mindset as a human being.
💯
I appreciate your transparency on your journey of growth. When I first heard your content I was put off by the closed perception… but now I click every time I see new content drop . I appreciate your insights and knowledge you bring to the table . Cheers
🤝🏼
We all go through this I found out about Bitcoin in 2014 it took me until late 2015 to understand it and that was only because of my finance classes. I realized how terrible and ineffective our monetary system was
Hey Rajat, just subscribed to you and I think your content about BTC is best on YT. You are a smart man and have thoroughly did your homework. Are you doing any Masterclasses on this subject? Or doing Patreon with deep dive content? I would be interested in learning from you!
Thank you, I appreciate it.
I have a community on skool! The main value there is the live sessions and additional videos. Check it out here:
www.skool.com/bitcoin-bootcamp-7077/about
We're all on a journey...and we all started at different times. I took BTC seriously when 1 Bitcoin cost more than 1 oz of gold. Been down the Bitcoin rabbit hole for 8 years now, and still learning. Keep at it Rajat. Mark in the UK.
I have to try so hard to not get triggered in YT comments every time I see a video with someone lumping BTC in with other crypto, and still calling it a scam 😂
Same 🤣🤣🤣
Yes sadly people don’t understand or care what open source means I guess. Bitcoin is basically the opposite of a scam. Open source is beautiful.
Bitcoin is king 🔥🔥
💯💯
False this assumes there's a second best, a queen....there is no second best! 😎
“The same way oxygen is important for Life , bitcoin (energy) is important for value.”
And maybe a possible cyber security network tied to the NSA and Space Force
Legend
Brother your view regarding cash flow and real estates was a paradigm shift for me. I like Tesla too.
It blew my mind when I figured it out. I'll look into Tesla!
Welcome to the light brother ;-). The next step is same as Saylor which that show had to learn as well, Nico use to hate on Bukele and Saylor. I called him out on it every time he did it. He just ignored me LMAO. Now he’s the biggest cheerleader for both of them. The biggest fools and scammers in finance are those who think they are experts. There are no experts in Bitcoin. Only those who are humble and HODLing. Everything else is trash.
💯💯
I make videos about MSTR already
Except X coins
@@rajatsonifinance My unconventional honest take on Bitcoin: th-cam.com/video/ef5r5DqUbJg/w-d-xo.htmlsi=Ymgbuw2Y5eINX-vi
You knew!! You freaking Knew!!😂
Knew what??
Takes a real man to admit this especially online, gained a forever follower just off that alone. Accountability is key
🤝🏼
Rajat Exiting the Matrix..
In real time!
Real estate is the S coin
If it costs me $100 to dig a rock that doesn't mean it'll be worth $100.
I believe Bitcoin's value comes from it's scarcity not from its proof of work.
The proof of work is necessary to keep the network running, so people can transact and to get the rest of the bitcoin eventually.
It would be interesting to visit El Salvador the first country to adopt Bitcoin by any government, how the country is now compared to the past?
Bitcoin is a lifelong journey to all things that are better.
Great vid but You shouldn’t have sped up the recording.
I didn't realize until after 🤣🤣
It will humble you forever. Trust me.
I think tech innovation is the scale business models, btc will disrupt disrupt the legacy financial system on a large scale ?
I think so
Rajat, do you actually think XRP is a scam?
The utility coming is undeniable.
The chart makes it seem like a pump-and-dump scheme. Did you know Ripple controls something like 50% of the supply? Please let me know if my thoughts on this are wrong.
Thanks man good one
Satoshi most selfless act innovating btc
What do you think ETH and LiNk these are also most useful application of blockchain
I stick to bitcoin only
This sped up audio is nerve wràcking.
Sorry I didn't realize until after. I like listening to videos and podcasts at 2x so I didn't realize
@rajatsonifinance im a slow thinker. Old people cannot put up with it. Just consider letting people speed up things on their own.
I'm not agree that mining makes Bitcoin valuable - scarcity makes it, sole purpose of mining is to make incentive to protect scarcity (well and to distribute in merit way). If you look around you will see proofs - art (especially if artist is unable to produce more of it), Gucci bags, Kopi Luwak, even gold - 90% is pure premium. Think about it - if for whatever reason we could not mine more gold - it would go up in price in similar way as Bitcoin.
If you plan on using bitcoin as a savings account, are you still investing in the stock market or are you exclusively buying bitcoin with all of your extra cash
I still regret not taking a punt when l was approached back in 2009😢
You're still not too late
What is money? Only gold and silver is money
In the public, there is no money, only currency aka negotiable instruments which are governed by rules most will never read nor ever comprehend....luckily digital assets have arrived to save the day, but will it?
How am I going to use a gold bar to pay for my groceries? lol
Delusional
@@voluntarism335 Im not saying I'm a gold bug in any way, I do advocate reading and comprehending the UCC tho as everyone pretends to understand everything about legacy banking yet have no idea about the law side of banking like the UCC.....Brandon Joe Williams and Reclaim Your Securities channels are a mind changer on negotiable instruments
I used to buy bitcoin at $200 to buy weed online and let me tell you: only one of my friends had the foresight of where bitcoin was going and he held on to his bitcoin from before it was $100, I feel like a complete idiot now, now I’m trying to buy everything I can when big money is already jumping in, I work hard now to make money to invest in bitcoin, if you believe in God please pray for me, I want to end the cycle of poverty in my family and help my kids have a shot a better future, I made so many mistakes I feel so stupid now.
U failed us!!!😅
🤣🤣
Does Blackrock concern anyone here?
Can they screw up Bitcoin for the rest of us?
That would be a topic I'd love to hear you cover.
They own about 5% of bitcoins so no I am not concerned in the slightest about a little drop in the bucket. I’d say to blackrock go ahead and sell them. Don’t worry they will be bought back up.
All they can do is sell and bring price down temporarily. Long term they can't do anything (unless they're sneaky and take tiny steps to change the protocol)
The only concerning thing is how BlackRock and other ETFs donate to Bitcoin devs to develop the protocol. I'm sure they'll try to sneak something in that gives them more power or by extension the US govt more power. Maybe leads to another fork in the future where there's government/BlackRock approved Bitcoin and another fork us terrorists/murderers/etc use. You know because we're evil for memorizing 12 words and holding our own Bitcoin.
@@rajatsonifinance well, they are sneaky, so….
Bitcoin is still a nonproductive asset, and investment in real companies is necessary to have goods and services to be able to purchase. It would be terrible for the economy if a significant amount of capital was moved out of stocks and into bitcoin.
Hmm, I'm not sure if what I just wrote was in part prompted by your comment, but I think it's relevant, so I'll paste it here:
"In addition to being a store of value, currently Bitcoin is (at least acting as) an investment. I think this is primarily due to increasing adoption, which is apparently more than enough to overcome the issuance (mining rewards).
"If we eventually progress onto a Bitcoin standard, with all supply issued, and ubiquitous adoption and pricing in Satoshis, I think it'll continue to be a store of value, but mostly if not entirely cease to be an investment.
"Imagine stocks priced in Sats. If the companies continue to produce and increase their perceived relative value in the economy, number (price in Sats) go up. If not, number go down.
"I'm not religious (anymore), but it reminds me of the Parable of the Talents from the Christian New Testament (gospels of Matthew and Luke). With a more sane (less usurous) monetary system, I'm thinking it would still be good (financially and ethically) to keep putting our money to work, and flowing in the economy, instead of just burying it in our wallets. But until then, HODLing increases price, which will increase adoption, which will help us get there."
Capital based on what? People have lost sight that there is no viable practical way to store value. $500M dollars is printed daily. People collect stocks, houses, watches, art etc. because they are trying to store value.
@@postmodgent1499 The value created from producing goods and services in the economy should primarily go back into real businesses. How does it benefit the economy if all that capital just sits in bitcoin not being used in a productive way? The price of bitcoin is meaningless if there aren't enough goods and services to buy because bitcoin sucked all the capital investment out of productive activity.
How is it help the economy when landlords are taking all of the wealth and everybody else is broke?
I want to buy equities ....but to a fair price
You bought into that fairytale? Still believe in Santa Claus
You bought into the US Dollar? 🤣