Can I buy some shares in your tomatoes? 200 cans. Or we could set up a fund with green beans, tomatoes and carrots. We could get rich on this, really rich.
With crypto, the big question is always when to take profits. What are your thoughts on that? I've been holding $250k worth of crypto since 2021 and seen it pump n dump
I've been keeping an eye on the charts, and it does look like a major breakout. The real challenge is predicting when this pump will end. Timing the market can be tricky.
This is interesting! the bull rally seems a good time to invest, never owned any digital assets before but quite enthused about it, would obviously need some guide as a total newb... mind if I look up your advisor please?
@@aa-gr2jh Of course it is! That’s why black rock and all the big investors are all over it like a rash. Trump has given it his backing too. If you haven’t got the balls or the foresight to see it’s value then that’s cool but Bitcoin ain’t going anywhere.
Bitcoin is not legal tender in most places but there are still a huge number of people who will accept it. More than the number of people living in the UK right now. Also, you have to understand crypto is a movement, it's a rejection of central bankers and the system who are the main cause for rising inequality. They use QE and low interest rates which inflate asset prices and devalue the currency (allowing wages to fall). Ordinary people don't even understand this and have little say in changing the system. We don't want central bankers, decentralised money systems are how we can remove them.
Decentralised money systems are an absolute gift to the powerful, a thousand times worse than centralised currency and mixed market economies. Decentralisation leaves you with no recourse when someone steals your coin, allows people to run pump and dump schemes with impunity etc. It's a fools belief to think that a completely deregulated financial market leads to less manipulation than a regulated one.
@@tigerstallion How are you going to make money on something that needs to perpetually consume real resources just to exist? It's a Ponzi scheme & the wheels will fall off eventually, like every Ponzi scheme that ever existed.
@@JenkinsOwenconfusing comment. Lumping Bitcoin in with thousands of other crypto. Not all is built equal if you understand Bitcoin in depth. Also just because a Bank can return money due to fraud doesn't mean this alone is enough to say the current system is superior. I'm sure there will be layers of protection like that built into a future Bitcoin based system. Probably a piece of piss to do lol. Remember the Bitcoin system is still really early days , just like the internet was like in the late 1990s . Lots of time for development still
@@tigerstallion its hilarous that bitcoin can be stolen from anyone and used agin even when that transaction is recorded in the blockchain...perfect for crime ...also no one mentions that an asset with so much volatility is basically gambling...
And 2 years later I find Gary’s economics. Just going through your library of content. I could easily see you in positions within government. But you’re far more clued up on finances & wealth than the current lot in power! Keep up the fight ✌️
Bitcoin was at $38k in 27th Feb 2022. I read your book, Gary, and listened to you on multiple podcasts and I think you're an incredible person with the information you have handed out to us. This video, however, doesn't reflect what BTC is and will be. It would be great to hear your thoughts on it now- has your sentiment changed? Areas of Crypto are certainly dangerous, but to put BTC in the same category as NFTs and crypto isn't correct.
Technically it is correct. BTC is backed by nothing. It could theoretically collapse tomorrow. You are right though, it won't. That's because so many people believe in it, which does give it some credibility. Still, BTC as a whole only destroys wealth (money spent on mining) and makes those rich who were lucky enough to enter early.
I agree, I absolutely love your videos but I don’t think this really reflects what the crypto market is, even the Bitcoin ecosystem. You own your coins?! And you own your wallets?! And to a degree, you have even more ownership than some other assets. The scams come from the lack of regulation not from the asset itself. Would love to see you make this again if you’ve changed your mind since 2022.
Yes, BTC has gone through the roof and met the predictions of many crypto enthusiasts. But that’s only because it’s been talked up (now to $100K!) and there are still enough people (and even companies) continuing to pour real (“fiat”) money into the project. But it’s fundamentally a pyramid scheme, and will therefore eventually reach saturation. The fact that it hasn’t done so yet is astounding, and worth investigating. My maths is a bit sloppy, but although the capitalisation of BTC is now around $2T, that doesn’t necessarily mean that so much (fiat) money is tied up in it - perhaps only 10% (I’ve searched for the answer but it’s almost impossible to tell). The problem is that bitcoin is such a tiny fraction of the total global money supply and value of assets, so it’s difficult to estimate what the saturation point might be. I guess it’ll be a psychological tipping point. Crypto in general can no longer be used as currency because it’s so volatile. It’s essentially a gambling chip. The banks or wealthy individuals with money to move markets will keep pouring money into bitcoin and other cryptos to keep pushing up the value. The crunch will come when they sell (cash in their crypto for fiat). But it won’t happen all at once. Many enthusiasts will see it as an opportunity to buy at the cheaper rate (thereby causing the price to stabilise and rebound). The big investors also can’t sell in one go either because that will tank the price. But all they want is just enough to make a return (8% or 10% or 20% is all fine when you’re talking about $1B, say). I suspect that the final death knell will be when the “gambling classes” simply run out of fresh (fiat) money to pour into the project. The price will possibly stabilise and then gradually lose value over several years as people who have been holding crypto all this while cash in their chips to buy that house or car or pay for those medical bills or for the retirement home. Once the allure of crypto is lost, it’ll drop in value gradually, steadying at a rate that is held up by the die-hard enthusiasts, until eventually they too will cash in at whatever they can get for it. And then it will drop down to almost zero. Perhaps then, it might become what it was originally promised to be: an easy and anonymous way to move money around (for tax avoidance or illegal purchases). But even then, the blockchain is permanent, and there are still ways to trace some transactions. On the other hand, it’s easy enough to launder money (legally) if you have a lot of it - buy a Trump property or go to a casino and “lose” the laundering fee (that’s how the Chinese routinely do it) or fund a winning politician or political party (well, that’s more an “investment” than a money-laundering operation).
@@Lioin People often forget that the fiat money system is ultimately backed by something very very real - the U.S. military. In the words of Stalin just ask - how many tanks does Bitcoin have.
@@Lioin Wrong, Bitcoin increases in value because it chases all the goods in the world and more goods are created everyday and demand for it continues to rise, and is a hedge against inflation.
Yes. Mee too. I`m extremely happy to mediocre through my life now. It`s entirely not my fault i have 200 pouns on my bank account. It`s the bloody system! All jokes aside. It`s a good channel. I was down 70 000 dollars on my trading journey and somehow made it through. Gary gives a great insight that trading is extremely difficult and 99%+ won`t make it and just gamble money away. Just like i did. Gambling it away.
@@ghdrum I wonder if it also improves your financial well being. Keep an eye on that. Because if it doesn’t improve, you should look further for information and actions that do.
This didn't age well. US government now buying bitcoin. Big institutions now buying bitcoin. You can now buy bitcoin ETF's. It's volatile but it's been around along time now.
I agree on many views you have. The smartest investors I know have a 80/20 rule. 20% on extremely high risk assets including crypto but 80% safely in property & business Cashflow.. unfortunately poor people run to 80% high risks to try to escape poverty
@@glo1168Tell him! BTC is holding 100k nicely these days. Trump hasn’t been inaugurated yet. Institutions are gobbling it up. Demand is increasing while supply is fixed. How long have we got Garry?
Which is a real shame because everything else he talks about is spot on. I agree, though. He doesn’t yet have a full understanding but I hope he manages to have some good discussions with some proper Bitcoin experts.
@@JevansUK Why? What is the 'fair value' of a Van Gogh painting - a splash of paint on canvas with no utility? Bitcoin has utility and scarcity and people want it.
Has your stance changed since the Bitcoin ETF approval? It seems to have given Bitcoin credibility as a hedge against the debasement of currency as opposed to its utility as a currency. Monero still functions as a currency.
No amount of legislation is going to change the underlying message - just because lawmakers are taking a fence sitting approach due to the large influx of capital doesn't make it a good idea. He explains how it fundamentally works and it does not create a market for capital growth, just speculation. The big ❓ that said speculation rests on is that it could one day be worth something - if a set of financial parameters align just right and there are no other currencies worth using - Bon Jovi may be dead but don't be Livin' on a Prayer
@selwynsivagumar it may not be a good idea but speculative bubbles are great opportunities to generate wealth. What were seeing in crypto is a fractal of the Dot Com bubble. While most people got burned for buying the top and fomoing, those who were early reaped the rewards. Those who held FAANG stocks became rich long term. Bitcoin, ethereum are the FAANG stocks of our generation imo
I think he doesn't understand or hasnt worked out yet what Bitcoin is really all about... It's not just an alternative to the current system but it's the future of the current system. We have an asset that is finite like no other asset in history. Truly there is a LIMITED amount of bitcoin in the world and when the majority realise this there will not be enough for everyone. We are world that runs on the internet, a technology that has changed the world and Bitcoin is the money of the internet. The internet levelled the playing field for the average person. It gave them knowledge. Bitcoin gives you a monetary system that is open to everyone and cannot be manipulated in the sense the current monetary system can by the elite... I'm sorry but I don't agree with Garys stance on this. I think he has completely missed the point....
It's definitely a smart choice to seek help from experts when you're starting to build your financial portfolio. It can be quite complex, so getting professional advice is a great strategy.
By investing in high dividend yield stocks, ETFs, and equities, I was able to achieve a net profit of approximately $115k. It's been a highly successful venture!
Gary, your obviously a smart guy, and I’m subscribed to your channel, but mate, you need to revise what you’ve said regarding Bitcoin (not necessarily crypto..)
It's all about timing, if they invested during europhia of hype then it's their fault Invest in crypto in the bear market and you will make 10x at least
@@wakeyskate bitcoin was the first ever cryptocurrency. Everything since then is a copy of bitcoin. A scam basically. 99% of all cryptocurrencies have gone or are going to zero against bitcoin.
@MarkJones-gt2qd I think it actually aged very well. I purchased small amounts of about 20 different coins around the same time he made this video. Currently, 4 of those coins are up massively (bitcoin, ethereum, chain link and Solana). The rest are down anywhere from 60-90%. Overall I’m down about 20%. If you’re only looking at bitcoin, he would be wrong. If you’re considering crypto as a whole, it absolutely shit the bed. If 3/4 of the S&P 500 was down 60-90%, the market would be in a panic. It wouldn’t matter that the other 1/4 was doing really well.
@@TheCommonS3Nse All you had to do was buy bitcoin. Everything else is a centralized scam. Bitcoin is not crypto and everything claiming to be crypto is trying to ride the coattails of Bitcoin.
Bitcoin is the new index fund. Learn about it. Study it. Like Saylor says: you spend about 80.000 hours of your life making money. Might as wel spend 80 hours on how to keep it. Read the bitcoin standard. Avoid all shipcoins. You’re welcome.
@ based on what grounds? He is not shilling a security. He’s telling you to buy property like a farm, but better property. Never does he ever tell people to buy his stock. He does tell you to buy bitcoin because it’s the hardest money ever made and it’s eating the world.
Impossible. You'd have to tear the current system down and build a new one. THEY will never allow that, and the Pandemic has shown that they have control levers to make the populace obey to their every command. Yes, the game is rigged and everything is a ponzi- so I'm going to take my chances with crypto where at least I get to make my own rules/ choices than the matrix of the 'real world' where everything is an illusion
@@Improverball agree with opting out of the system. disagree that bitcoin is the only option. bitcoin is already co-opted by the rich. bitcoin was the start. crypto is socially enforced networks. crypto is the revolution. yes there are lots of scams but if you find the right community you realise that this is how we win
@@zrymillYou talk all about supply but say nothing about demand. Why do we need more houses? Because there are 10 million more people in the UK compared to 30 years ago, lestvyer was net 700k immigrants. Thats a new city of people in a single year who all need to live somewhere and send house prices through the roof. We cant build a new city every year, we can't concrete over the countryside to house the world. Close the borders, reduce demand.
I'm a bitcoin believer. I actually agree with Gary 100% on this. I don't think this message is for people who really understand the ins and outs of crypto. However, for most people, it's highly volatile and they should avoid it. The majority of cryptos are worthless.
Recent ATH's in BTC (not other cryptocurrencies only BTC) and GLD would say that the advice in this video aged poorly. Ignore BTC at your own financial peril.
Anybody who has studied Bitcoin for more than 1 week understands it is not like all the other cryptocurrencies. Do you own research and don't listen to sweeping statements like this
This is what 5hrs of research sounds like, good intentions, he’s totally right about NFT’s. Honestly his advice is sound, unless your vet knowledgeable don’t touch crypto and for god sake don’t trade, especially with money u can’t afford to lose.
@@northwestcoast He's a regime shill. He literally shills central banking and authoritarian power over money, he just wants his side to have the power.
I'd be sitting on a big pile of melting fiat if I listened to ppl like Gary. You can mid-curve life if you want, but some of us don't have that luxury. Risk is work. Belief is calm in the face of adversity. Stop trading and believe in something.
you didnt understand any of it... he has the same feeling about btc -it's a risky investment. the fact it went 100% doesnt matter..NFT pictures did even better. he's not in a crowd trying to predict bitcoin price. there is 40000 other assets on the markets, why bother yourself with something that doesnt gives you ownership in a legal sense?
I think you need to remake this video Gary given the approval of Bitcoin ETFs and institutional demand. You didn't mention that bitcoin has a limited supply of 21m. At the time you made this, there were many massively overpriced NFTs and worthless altcoins. Thankfully, many of these have been flushed out of the system. I think you have generalised too much. Not all crypto is created equal. Enjoying your channel btw
He also put all crypto into the same basket as Bitcoin. Ie NFTs . They are definitely not the same beast. The risk levels difference between something like a Bored Ape NFT and Bitcoin are massive.
There is no institutional demand - only instituonal infrastructure. No investment bank or asset maanger is putting their own money in. They're putting client money in. And only if the clients explicitly say they want to. Bitcoin is a ponzi scheme. It only stays afloat as long as people are buying in. The problem with cryptocurrency is that while demand can pump up the value, lack of it will drop the value - and as all of the demand is synthetic, the value (even of bitcoin) can drop to 0. On the other hand, say gold ETF prices can be inflated by demand, but when the demand drops the value of the ETF still can't drop below the price commanded by physical gold.
Thanks for continuing updates and for keeping us financially Educated! Regardless of how bad it gets on the economy, I'd rather trade the crypto market as it's more profitable than holding. I made a Hundred thousand dollars from trading last year even though I barely trade myself.
Trading without professional guide... Huh I laugh you, because you will remain where you are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders
Mrs Sonia Dixon was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from Sonia Dixon.
Sonia Dixon's analyzes go beyond superficial trends. It delves into technical, fundamental and sentiment analysis, providing a holistic view of the market.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
Assets? What assets? Are shit coins an asset? Only if there are fools to pay for it, once there is no speculative demand for those "assets" their value becomes 0.
Yeah until it gets a new value of zero. 😅 .. it could be but i am not sure. It's a great idea about this bitcoin but it really isn't backed. I am not an expert.
@@juleshatesjiujitsu He is, and he is still right. It's a pyramid scheme that can collapse any moment. Just because it hasn't yet does not mean it isn't going to.
Making comparisons of bitcoin to a company stock is just flawed logic.. It's like asking who is the CEO of bitcoin? It's a technology, you own part of a network not part of a company.
This didn't age well. I understand that people get rugged or roundtrip their profits, but there are professionals like me that understand macro cycles and there's zero reason to invest in anything else but BTC/ETH/SOL.
I asked you to make a video on Crypto so nice to see your view although I beg to differ. Yes it is very risky... anything new is but its the direction the world is moving towards. There is more and more use cases day by day... it is not going to change over night and all the big organisations are now getting in on the act. Of course you have a different view to this but similar things were said about the internet and with the meta verse jargon and the way everything is becoming robotic and digital... its only natural that money will follow as fiscal money simply does not have the speed this will have. Anything can fail but the principle of smart contracts and block chain itself is very robust, that cannot be denied.
The problem with bitcoin is it’s player vs player, it will keep going until it runs out of sellers, once it’s ran out of sellers it will drop, it will pump again because it will also run out of buyers at some point, but it totally operates out of destroying the largest holding players direction, you can tell by how it moves it’s constantly pushing against the majority
Been a subscriber for a while and have enjoyed the finance/political content but this is a bit of an odd take... Crypto at the very least allows for diversification in investing; exposure to it is healthy. Surely young people especially should be taking those risks to try and fight back against wealth inequality by investing in assets like cryptocurrencies as they can afford to lose money when their responsibilities are limited. I personally have exposure to Bitcoin through MicroStrategy, and it's been one of the best financial decisions I've made - certainly better than buying gold or a house! Would be interested to hear your thoughts on MSTR too.
@@JoeNakamoto I've read a few article online outlining poor adoption of BTC in El Salvador, with something like 10% of surveyed population actively using it - was your experience on the ground radically different?
For somebody who usually speaks a lot of sense, it’s clear to see you don’t understand the concept of BTC and cryptocurrencies. You just sound like somebody who is bitter about losing out on an investment, or a typical no-coiner.
Hi Gary, love your analysis here. Haven't heard the addiction thing but makes sense. Lots of people on my circle invests in these things. I'm wondering what you think about Rishi Sunak stating that the G7 economies will creat a centralised digital currency? If you haven't seen the video it's on the hmtreasury TH-cam video (who would have thought they had one!). Take care pal!
A CBDC is the end of your freedom and the end of capitalism. The only use cases for a CBDC are totalitarian, communist or feudalist (including dictatorships in feudalism). There is no reason for a CBDC other than to remove power from the peasants.
High quality video content! I have another question: someone transferred me some usdt and I have recovery phrases. {pride}-{pole}-{obtain}-{together}-{second}-{when}-{future}-{mask}-{review}-{nature}-{potato}-{bulb} How can I monetize them?
@@DokiSarosiIt gets worse, the volatility of crypto is what makes or loses people massive amounts of money, a crypto ETF will DECREASE volatility and the ability to make money, as large fund providers will need to purchase and hold crypto to passively track the index.
I'm saying this to make a particular point because I currently have no crypto: It worked out better for me than anything else I've ever bought. Twice, my Bitcoin went up more than double and I sold, paid my taxes and went on with my life. Don't risk any more than you can afford to lose. But that's true of every investment or bet. I've lost money on Nat Gas and Wheat as well as various Stocks but made money on Oil twice and various other Stocks. Property has so far been a winner the whole time but who knows? If we see a massive recession in Europe, it may drop like a stone. Property is almost free in some parts of Italy, Spain, Portugal and France because people all moved into the cities for work. Nothing is certain. At all. Everything can lose value, including solid Gold. All you can do is save and hedge your bets so that if 3 of your investments drop, another 3 might go up. Or maybe you've got some cash to buy the opportunities if they present themselves. Nothing in this world is simple, particularly Investments.
Well done. I like Gary but like many these days, he thinks his opinion is always correct even when he hasn’t done any form of deep dive into crypto or blockchain. Skimming the surface like this is actually quite dangerous. Michael Saylor and Larry Fink were just the same - very verbal about crypto being pointless….until they actually looked into it. Then they became fans once they saw the use cases (yes there are use cases).
@@themiddleplace For someone to make a profit from Bitcoin, someone else has to lose out. It's basically just a game of poker but if you win, you pay taxes on your winnings. Sounds pretty rubbish when you think about it.
firstly I love the work you are doing to highlight social inequality. This video does also make a strong point. However I think its important to differentiate between NFT's and so called Meme coins (the ones you are highlighting) from others like Solana which have actual real world application ie. Solana blockchain may soon provide payment services for visa ect. Some are more than just coins, they are businesses with real utility. As for bitcoin, since you made this video many institutions including pensions and nation states are buying bitcoin hand over fist. bitcoin is now 100k+. would love to know your updated opinions on these points. keep going with your channel, I LOVE IT.
I'm sure he knows what he's talking about. What we see is called pump and dump. I am not against crypto as long as people understand that it is pure gambling.
i lost a lot of dough messing around with crypto in lockdown era 2020/21 (sold most of it in 2023 when this vid was made?). But I tell u i wish I'd put more than £100 on BTC when it went to $16-20K last year...it's just hit $61K (march 2024). Damn. Could have trebled a couple of grand
@@endxofxeternity I know right. it's easy to see when you haven't bought in to the hype, but these bitcoin evangelists just wont accept their electronic 'god' is a false profit. (Do you see what I did there).
You didn't do the work to understand what you had and you're still falling into the trap of thinking you are too late. Those who don't do the work will always sell & give it over to people who have. Bitcoin is going up forever Laura.
I strongly disagree with this blanket view on crypto. Yes, there are people taking advantage of others with crap such as NFTs, but to say crypto is inherently bad is misleading. The usual reason for this is ignorance so I implore people to learn about how Bitcoin began and why crypto is the best form of money made yet.
It was supposed to be a safe haven against inflation and how that turned out ? It was supposed to be super duper payment system, I personally do not have any issues with money transfer and if I go abroad I use Revolut that gives you unbelievable exchange rate and no transaction fee. Bitcoin is not backed by anything unlike currencies that are backed by gov and tax system. All those super secure wallets that only you can access, can you tell me how many people lost their passwords or die and those crypto just sits there? Everyone gets what they want from trading and if you want to see your token going down 80-90% and then pray it will go up then that's your choice but don't call it investment. Anyway governments are cracking down on it , do you really think gov will accept paraler payment system ?
It was made to simulate real money without inflationary central bank. NFTs were a manifestation of how useful the cryptocurrencies actually are. No utility, no control of its market price and no real value. That's my quick summary.
You've just proven how thick you are in one paragraph. Best form of money comes from a central bank and one which is equipped with nuclear weapons that could dislodge earth from its orbit.
Rule number 1 don't invest what you can't afford to lose. Lots of people investe and don't trade.. Another anti everything , that hates successful people.
Legal Ownership and Rights Claim: "If you buy Bitcoin, all you have is a Bitcoin... It gives you no legal ownership rights." Debunk: Owning Bitcoin is akin to owning any other form of currency or commodity, which also does not confer ownership rights over physical assets. Bitcoin's utility lies in its use as a decentralized currency, investment vehicle, and store of value, much like owning gold or other commodities which also do not confer additional ownership rights.
why do you sound Jamaican? I dont think this video is going to age well. Although I do appreciate his warning message for buying very bad crypto projects that are pyramid schemes however if you had bought the best performing asset for the last 10 years in small amounts and continue to do so you will be better off. Consider BTC as a store of value and a proven inflation hedge.
"a proven inflation hedge" gold is desired - and has really useful physical properties art is desired - it is inspiring to look at asserts like stocks & shares generate revenue, they provide value what does BTC do? I can't even use it to move money across exchanges; instead I have to use a PoS crypto since transaction fees are much lower with those ones.
@@JiffyCakes in an ever increasing digital age bitcoin will become digital gold. Its already proven itself as an inflation hedge over the last 10 years. Bitcoin you can store easily off exchanges if required : you can send it to someone across the world without an middle person: its deflationary : it is becoming part of peoples pension funds as we speak: Yes all those points you made on art and gold are true, but having bitcoin in your investment portfolio is a very wise move to consider.
I agree that crypto currencies are risky assets. But shares in Apple are also unsecured assets and does not transfer ownership of the companies assets to shareholders.
Like your channel but gotta disagree with you on this one. Crypto is more than just gambling, there is that aspect, but there is also a community hidden from the mainstream of holders, accumulators and yield seekers in decentralized finance. After being in crypto for 5 years I have retired and my kids won't have to worry.
By definition it’s still gambling, though. If you make money without selling a real world product or service then you’re making a bet on something. There are only 2 ways to make money: You can trade goods & services, or you can make speculative investments.
You might be lying like many do to sell people the idea of crypto. But even if you're telling the truth about yourself, for every person who succeeded in crypto there has to be thousands and thousands of other people who lost it all. Because crypto is not real money, the real money comes from the people who buy digital coins with their hard earned cash.
100%. For someone as smart as Gary he really dropped the ball on this. Honestly, even meme coins and quality Layer 1's, etc. If Gary's mate working in Aldi just threw £100 in to a meme coin that gained traction over a couple of years he'd probably have tens of thousands of pounds right now. I make a decent salary, but nothing like what I made last cycle in crypto, physically cashing out 6 figures profit in to my bank account.
.means nothing just because people still buying in doesn't change anything. It needs to have utility to be worth something at present it's purchased and held as speculation it will continue to increase in value. Simple fact is once more people start to want spend the money they hold in bitcoin than want to increase their holding. It will drop. No floor to where it could get to it's intrinsic value is 0, the price is entirely down to sentiment if you bought at 40k and are holding at 60k that's great what happens when it's 30k? 20k? 10k? How long do you keep holding when do you join those dropping it so your not left holding the bag? When people argue that a share is over or under valued they can point to analysis expected future profits, assets held etc. You cant do that for bitcoin. It's entirely down to keep the flow into the asset more than the flow out, and theirs a term for that it's called a bubble. Lots of people made a lot of money in previous bubbles but only when they got out before the pop.
The point he's making isn't that people are 100% doomed if they invest in crypto. It's that all crypto is a highly risky thing to invest in, and it's not a solution to wealth inequality. If someone had put their life savings in BitCoin November 2021 ($62,000/coin) they'd have less money today September 2024 ($55,000/coin). If you look at any crypto performance over time the chart is all over the place. If our theoretical person had put $62,000 into a low fee 500 index fund in November 2021 and plowed the dividends back into more shares their investment would have more than doubled over the same period of time. As working class people we should be able to have enough income to not have to resort to risky gambles to have the same ability to own a home and have financial security as our grandparents had.
He never said things won't pump. If anything, this is exactly what he said. Things will pump, and everyone is being persuaded to throw their 1-5k's into crypto. So the big dogs can just zonk it.
Bitcoin was $42k when gary made this & it's now at $100k. 2.5x return in 2 years. He is good guy, but he doesn't know everything. Be careful about buying in now - look for the bottom in '27 and hold for 2ish years & you should see about a 4x of your money. Use the time between now & then to learn. You're welcome.
Gary I hope since this video you have done more research on Bitcoin. Mises Institute is the economics we all need. Really appreciate your book and thank you for sharing the human error in our financial system. Keep up the good fight.
I would vote for Gary to be PM/ king/ president. I am midway through his book. But a lot has happened in crypto since this video and BTC is probably one of the most rock solid investments you can make now.
You own none of the stocks he listed; they can all be taken away, debased. Bitcoin you own, it cannot be debased, it is not controlled by the gov (or anyone), and it is backed 1:1 by energy (majority renewable).
Gary is absolutely great but I think he is wrong on this. You don't own any of the Apple stores or their actual stock if you own their ticker, houses are great yes but a nightmare to run any sort of portfolio at current borrow rates, 5% savings barely hedging inflation and good luck getting in at the right time on a S&P tracker if your time is shorter than 25 years. As Robert Kiyosaki said "£$= Governments money, Au=Gods money and Crypto=Peoples money".
@@JevansUK with respect, this is not an effective argument against bitcoin. One could substitute ANY asset where you’ve written “bitcoin” [gold, USD, diamonds, stock, treasuries, real estate, etc] and the answer would be the same, “nothing”. The value of ANY asset will always be tied to what someone else is willing to pay for it. And so, just like ANY asset, it’s important to understand how it functions. Suggested reading: “The Bitcoin Standard” by Saifedean Ammous I used to believe bitcoin [and all crypto] was a “scam” until i did my homework and took the time to understand how it functions. That’s when the lightbulb 💡 moment occurs…for all of us.
@@billy-black-socksNo gold has industrial usage, decorative usage etc It's not productive but it is a physical thing that has utility, Bitcoin is entire reliant on the perception that it is worth something.
@@JevansUK What can you do with fiat that's being debased into oblivion by central planning? Worthless currency is more a certainty for fiat than it is for programmable money that cannot be debased, gets harder every 4 years, and is exchanged globally across any network.
Can one control the ads which are placed over the videos? The ad that popped up after the video was for Coinbase :/ That goes completely agaisnt the point of the video
I've never invested in crypto and I very much doubt I ever will, but you can never say never. A good trader is always ready to accept he is wrong, if he turns out to be so. If that happens, it happens, but at the moment I think they are pretty much cons. I am actively short (although not massively, as they are super volatile).
Keep it going Gary your awsome, always bang on, you will definitely get million plus ➕️ subs keep going. Most important is the information your giving to the working class, I applaud 👏 ✌️ you. FANSTIC VIDEOS.
@@garyseconomics mate you convinced me you know nothing about Crypto. Typical University educated but no common sense. Out of the 19,000 Crypto currencies yes 18900 will go to zero. But there are a few that will go on to make millionaires. Look into the ISO20022 currencies and what is happening with them in November.... You need to upskill on this
I don't understand any of this shit, one thing I do understand is I have spent over 35 years quoting tenders winning orders for materials that I quoted to supplies large overseas companies to make a margin of 20 to 33 percentage on physical goods I ship....that I am absolutely debt free, I'm not a multi multi millionaire but....I have cash, own several properties, and that a big house is worth 4 apartments, 4 Apples equals 4 Bananas, a bike is better than walking I'm totally unaffected, I can slash rental income by 50% and still live comfortably, I can buy more property for cash, and I'm waiting for the next dip, but no debt
Big ups and big love for the awesome daily content. Because inflation devalues your savings, it compels everyone to be an investor. Meaning you need to preoccupy yourself or offload your time/energy to the study of investment opportunities both of which are very costly. Thanks to Harry’s Dent for showing me the appropriate way to get into bitcoin investing and trading with his trade signal and investing guidelines. Investing and trading are more than just having TA skills. There is a big component of discipline and emotional maturity, that one has to work on! Time in the market vs. timing the market. If you keep that mentality as an investor, you will stay calm during the storm! Within some months I was making a lot more money and have continued on that same path with Harry’s Dent.
In a field as rapidly evolving as cryptocurrency, staying updated is crucial. Harry’s continual research and adaptation to the latest market changes have been instrumental in helping me make informed decisions.
I partially agree with you. There are thousands of scam coins out there. But I believe that Bitcoin and probably Ethereum have a long future. If you are going to buy cryptocurrency, invest less than 10% of your wealth, and only buy Bitcoin or Ethereum no scam coins. This is not financial advice, and any financial decisions should be made in conjunction with an independent financial adviser.
Loved hearing your thoughts Gary on crypto! You do a great job explaining Austerity and Economics and your channel is great! I liked hearing your points of view I will say I invest in crypto and in 2022 highlighted what happens when people invest in crypto companies that are centralised! A crypto native would argue that crypto is about decentralizing finance and separating government and finance, I will admit though for every good Crypto currency there are 200 magic dogshit coins! Thanks for the content😀
In a weird way I find this video quite comforting. An 'expert' failing to understand the difference in mechanics of bitcoin vs. others. Failing to understand the mechanics of our F.I.A.T. money. We're still early. The biggest shame is he's failing to see this has been the biggest chance for wealth equality of all time. People have been shouting from the roof tops about bitcoin for over 10 years. Why complain about money without understanding what it is and wha the alternatives are? If people miss the boat by now - they deserve to be poor. Bitcoin has been slapping them around their face for over a decade.
I think you'll find crypto, like many speculative assets, has for sure made a select few lucky people "rich". But it's also made many more rich people far richer. A poor person cannot afford to invest anything considerable into a high risk asset. I'm not sure why you're seeing it as a wealth equaliser, it's the opposite.
I agree with you bitcoin is different and I have money on it too. But... it won't help the rich poor divide. The bitcoin rich will hoard and lend against their holding and stay rich.
@@Jadder88z my friend, I am far from smart but have ALWAYS been prudent with money. Always hoarded hundreds in many of my bank accounts but once I got my head around crypto in 2020, I realised just how misinformed I was about investing. Many ppl I tell about crypto fail to make money because they don't understand simple investing let alone crypto. In fact, you'll realise that they just don't want to know. If you can't *guarantee* them they can make money and wont lose any at all then they just dont want to know. The difference is lack of wanting to learn, which would have taught them that investing is a long term game and one must have patience; no matter the asset. Since 2008, all you had to do was hold BTC for 8 years (2 bull cycles) and you'd be in profit; with a £100 investment turning into over £5000 (meaning the poor could *certainly* get wealthy). Knowledge is key, but ppl nowt have the discipline nor patience to acquire it. Sad really.
@@saintmte5076 when there's no money to put food on the table, it's hard to hold onto investments. I agree for the most part though, it's just not always that simple.
I've made a lot of money with cryptocurrencies, but I'm better than the average Joe with math and with identifying red flags. It is risky, however, I don't think it's great to walk into a bookies and say it is safer...
bro i disagree with you. entirely and i think you looking at it the wrong way this is the issue that when you do research beyond simple macro level yes its wild wild west but you have to also understand change that happening technology market and crypto is trillion dollar asset it is very risky , very risky should never be main source investment for someone that looking to invest life savings . alot of projects in liquidity markets, in procurement, in defence , in security alot of crypto currency ledgers are takling fraud in different sectors and bringing asset management on to blockchain such as land ownership and insurance alot of what happening beginning stages .i will never denounce whole sector generalise it . yes there is rug pools and scammers also teams investing time in building layer 1 project. you mention stocks but where were you class technology stocks? if you give example please provide the whole truth not a portion of it. If you don't understand it let someone explain it to you
2:20 Bro you are totally wrong. Bitcoin is money, you can exchange it for whatever currency you want (or whoever accepts it). The money in the bank belongs to the bank, you do NOT own that money. Bitcoin you hold yourself is owned by YOU. That is true property ownership. Bitcoin is bigger than just and investment. Zoom out. Cheers
Is it fuck - Which government is going to bail it out when it has its 2008 style crash? Who are they going to tax to rebalance the debt with real labour value?
Gary, mate, I have made so much goddamn money investing in Bitcoin. I've been DCAing for 6 years and I am up so much that it would take a societal collapse for me to ever be in the red. You are doing good work but this would be an example of an opinion being spun off as a fact and I think if you're going to touch on this topic, a topic you don't seem to be as well-versed on as your other financial acumen, you should be more granular and less broad stroke with your advice.
In your first sentence, due you think the former may have led to the latter, and therefore that Bitcoin is in fact one almighty speculative bubble (they can fall incredibly fast)?
@@maxt1617 No, Bitcoin has experienced this kind of growth many times before the introduction of ETFs. In 11 of the last 14 years, Bitcoin has been the best-performing asset. While ETFs add legal legitimacy and can accelerate its price discovery, Bitcoin would have continued on its trajectory regardless. The extreme volatility we see, driven by excessive leverage, leads to boom and bust cycles, but the overall trend remains upward. You can either have your life's hard work eroded by currency debasement, or preserve your wealth with Bitcoin. For me, the choice is clear
I personally have a bit of bitcoin, invested a while back. Currently 1.5k in profit. I plan on leaving it just incase it goes "to the moon" But also accept that i could loose the lot.
I always invest in cans of food. A 25p can of tomatoes will be 30p next year. No bank in the world will give you a return like that.
Next yr? Way things are, it’ll be next week!
Thats funny 😂
Can I buy some shares in your tomatoes? 200 cans. Or we could set up a fund with green beans, tomatoes and carrots. We could get rich on this, really rich.
Cans don't last forever.
@@philwatson8694 I can sell you the rights to a drawing a 5-year old did of your can of tomatoes for only £5000. Be quick its £6000 now. $7000...
With crypto, the big question is always when to take profits. What are your thoughts on that? I've been holding $250k worth of crypto since 2021 and seen it pump n dump
its not late to consider financial planning, never can tell what the future holds>
I've been keeping an eye on the charts, and it does look like a major breakout. The real challenge is predicting when this pump will end. Timing the market can be tricky.
This is interesting! the bull rally seems a good time to invest, never owned any digital assets before but quite enthused about it, would obviously need some guide as a total newb... mind if I look up your advisor please?
Her name is “Melissa Elise Robinson” can't divulge much. Most likely, the internet should have her basic info, you can research if you like.
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
A friend of mine has a son who invested 30K in bitcoin at $1500 each many years ago. He still holds his coins now worth $2 million.
Trading is definitely risky af but long term hodling is the way for the average punter to make money.
@@TheAffrojutty Bitcoin is dead!
@@aa-gr2jh Of course it is! That’s why black rock and all the big investors are all over it like a rash. Trump has given it his backing too. If you haven’t got the balls or the foresight to see it’s value then that’s cool but Bitcoin ain’t going anywhere.
@@aa-gr2jh LOL how can you read the OP's comment and reply 'BTC is dead?'
The cognitive dissonance is WILD!!!
@@aa-gr2jh BAHAHAHAHA 😂
Bitcoin is not legal tender in most places but there are still a huge number of people who will accept it. More than the number of people living in the UK right now.
Also, you have to understand crypto is a movement, it's a rejection of central bankers and the system who are the main cause for rising inequality. They use QE and low interest rates which inflate asset prices and devalue the currency (allowing wages to fall). Ordinary people don't even understand this and have little say in changing the system.
We don't want central bankers, decentralised money systems are how we can remove them.
Decentralised money systems are an absolute gift to the powerful, a thousand times worse than centralised currency and mixed market economies. Decentralisation leaves you with no recourse when someone steals your coin, allows people to run pump and dump schemes with impunity etc. It's a fools belief to think that a completely deregulated financial market leads to less manipulation than a regulated one.
@@JenkinsOwen sounds like you have no idea how BTC works
@@tigerstallion How are you going to make money on something that needs to perpetually consume real resources just to exist?
It's a Ponzi scheme & the wheels will fall off eventually, like every Ponzi scheme that ever existed.
@@JenkinsOwenconfusing comment. Lumping Bitcoin in with thousands of other crypto. Not all is built equal if you understand Bitcoin in depth. Also just because a Bank can return money due to fraud doesn't mean this alone is enough to say the current system is superior. I'm sure there will be layers of protection like that built into a future Bitcoin based system. Probably a piece of piss to do lol. Remember the Bitcoin system is still really early days , just like the internet was like in the late 1990s . Lots of time for development still
@@tigerstallion its hilarous that bitcoin can be stolen from anyone and used agin even when that transaction is recorded in the blockchain...perfect for crime ...also no one mentions that an asset with so much volatility is basically gambling...
And 2 years later I find Gary’s economics. Just going through your library of content. I could easily see you in positions within government. But you’re far more clued up on finances & wealth than the current lot in power! Keep up the fight ✌️
NNOOO, you misunderstand him- he said : YOU have to fight ---- it is your future..
Bitcoin was at $38k in 27th Feb 2022. I read your book, Gary, and listened to you on multiple podcasts and I think you're an incredible person with the information you have handed out to us. This video, however, doesn't reflect what BTC is and will be. It would be great to hear your thoughts on it now- has your sentiment changed? Areas of Crypto are certainly dangerous, but to put BTC in the same category as NFTs and crypto isn't correct.
There is no better investment than BTC right now
Technically it is correct. BTC is backed by nothing. It could theoretically collapse tomorrow.
You are right though, it won't. That's because so many people believe in it, which does give it some credibility. Still, BTC as a whole only destroys wealth (money spent on mining) and makes those rich who were lucky enough to enter early.
@@Lukas4182 we are early.
I agree, I absolutely love your videos but I don’t think this really reflects what the crypto market is, even the Bitcoin ecosystem. You own your coins?! And you own your wallets?! And to a degree, you have even more ownership than some other assets. The scams come from the lack of regulation not from the asset itself. Would love to see you make this again if you’ve changed your mind since 2022.
Yes, BTC has gone through the roof and met the predictions of many crypto enthusiasts. But that’s only because it’s been talked up (now to $100K!) and there are still enough people (and even companies) continuing to pour real (“fiat”) money into the project.
But it’s fundamentally a pyramid scheme, and will therefore eventually reach saturation. The fact that it hasn’t done so yet is astounding, and worth investigating. My maths is a bit sloppy, but although the capitalisation of BTC is now around $2T, that doesn’t necessarily mean that so much (fiat) money is tied up in it - perhaps only 10% (I’ve searched for the answer but it’s almost impossible to tell).
The problem is that bitcoin is such a tiny fraction of the total global money supply and value of assets, so it’s difficult to estimate what the saturation point might be. I guess it’ll be a psychological tipping point. Crypto in general can no longer be used as currency because it’s so volatile. It’s essentially a gambling chip. The banks or wealthy individuals with money to move markets will keep pouring money into bitcoin and other cryptos to keep pushing up the value.
The crunch will come when they sell (cash in their crypto for fiat).
But it won’t happen all at once. Many enthusiasts will see it as an opportunity to buy at the cheaper rate (thereby causing the price to stabilise and rebound). The big investors also can’t sell in one go either because that will tank the price. But all they want is just enough to make a return (8% or 10% or 20% is all fine when you’re talking about $1B, say).
I suspect that the final death knell will be when the “gambling classes” simply run out of fresh (fiat) money to pour into the project. The price will possibly stabilise and then gradually lose value over several years as people who have been holding crypto all this while cash in their chips to buy that house or car or pay for those medical bills or for the retirement home. Once the allure of crypto is lost, it’ll drop in value gradually, steadying at a rate that is held up by the die-hard enthusiasts, until eventually they too will cash in at whatever they can get for it. And then it will drop down to almost zero.
Perhaps then, it might become what it was originally promised to be: an easy and anonymous way to move money around (for tax avoidance or illegal purchases). But even then, the blockchain is permanent, and there are still ways to trace some transactions. On the other hand, it’s easy enough to launder money (legally) if you have a lot of it - buy a Trump property or go to a casino and “lose” the laundering fee (that’s how the Chinese routinely do it) or fund a winning politician or political party (well, that’s more an “investment” than a money-laundering operation).
This aged well 😂😂😂
It did. Crypto, btc included, is a sham. The only way to make money off of it is if someone else loses money.
@@Lioin People often forget that the fiat money system is ultimately backed by something very very real - the U.S. military.
In the words of Stalin just ask - how many tanks does Bitcoin have.
@@Lioincrypto is the best performing asset of the last 2 decades, you’re either stupid or just ignorant mate
@@Lioin Wrong, Bitcoin increases in value because it chases all the goods in the world and more goods are created everyday and demand for it continues to rise, and is a hedge against inflation.
@ okay so we aren’t even gonna try to make sense now? not understanding is a shame but actively lying to try to fool people is outright evil
I f**king love this guy. Stumbled upon him 2 weeks ago and have binged his entire video library and listened to his audiobook. What a legend.
fake ass guru like the rest of them
Yes. Mee too. I`m extremely happy to mediocre through my life now. It`s entirely not my fault i have 200 pouns on my bank account. It`s the bloody system! All jokes aside. It`s a good channel. I was down 70 000 dollars on my trading journey and somehow made it through. Gary gives a great insight that trading is extremely difficult and 99%+ won`t make it and just gamble money away. Just like i did. Gambling it away.
@@marsmellow1589 same.
From the US- just spent 250 pounds on a cab ride to the airport. Thought Id just die darnit!
@@ghdrum I wonder if it also improves your financial well being. Keep an eye on that. Because if it doesn’t improve, you should look further for information and actions that do.
This didn't age well. US government now buying bitcoin. Big institutions now buying bitcoin. You can now buy bitcoin ETF's. It's volatile but it's been around along time now.
Come back to this video in 2025😂how wrong can you be
@@paulparker7390 they’ll be 160k at least
I agree on many views you have. The smartest investors I know have a 80/20 rule. 20% on extremely high risk assets including crypto but 80% safely in property & business Cashflow.. unfortunately poor people run to 80% high risks to try to escape poverty
poor people buy food not investments
@@jacquiollard8784 Poor people go to food banks....
You should revisit the other areas of agreement...
Then you don't know any smart investors. 20 20 40.
Playing it safe will not free you
I think this is single handedly going to ruin this man's reputation forever
At least he’s honest and correct!
@@garryallison4716 he wasnt right though was he 😂😂😂 Bitcoin was 15k when he did this video, its now 102k!!!
He was very very wrong😂
@@garryallison4716 LOL! what metric from 2 years ago to now are you using to come to this conclusion? Because all is see is wrongness
@@glo1168Tell him! BTC is holding 100k nicely these days. Trump hasn’t been inaugurated yet. Institutions are gobbling it up. Demand is increasing while supply is fixed. How long have we got Garry?
Which is a real shame because everything else he talks about is spot on. I agree, though. He doesn’t yet have a full understanding but I hope he manages to have some good discussions with some proper Bitcoin experts.
Conflating bitcoin with NFT projects and dodgy alt coins. Would like to see an updated video just covering bitcoin,
Bitcoin fair value is still 0
Essentially, he's not qualified to be making this video.
Actually it's $38,000 around 12% down from its current price 🤡 @@JevansUK
im sorry but this guy just got lucky 2 years in a row, he dont know shit
@@JevansUK Why? What is the 'fair value' of a Van Gogh painting - a splash of paint on canvas with no utility? Bitcoin has utility and scarcity and people want it.
Has your stance changed since the Bitcoin ETF approval? It seems to have given Bitcoin credibility as a hedge against the debasement of currency as opposed to its utility as a currency. Monero still functions as a currency.
No amount of legislation is going to change the underlying message - just because lawmakers are taking a fence sitting approach due to the large influx of capital doesn't make it a good idea. He explains how it fundamentally works and it does not create a market for capital growth, just speculation. The big ❓ that said speculation rests on is that it could one day be worth something - if a set of financial parameters align just right and there are no other currencies worth using - Bon Jovi may be dead but don't be Livin' on a Prayer
He doesn't explain shit and he's talking nonsense.
@selwynsivagumar it may not be a good idea but speculative bubbles are great opportunities to generate wealth.
What were seeing in crypto is a fractal of the Dot Com bubble. While most people got burned for buying the top and fomoing, those who were early reaped the rewards. Those who held FAANG stocks became rich long term.
Bitcoin, ethereum are the FAANG stocks of our generation imo
No, it's still just a dumb fake scam.
I think he doesn't understand or hasnt worked out yet what Bitcoin is really all about... It's not just an alternative to the current system but it's the future of the current system. We have an asset that is finite like no other asset in history. Truly there is a LIMITED amount of bitcoin in the world and when the majority realise this there will not be enough for everyone.
We are world that runs on the internet, a technology that has changed the world and Bitcoin is the money of the internet.
The internet levelled the playing field for the average person. It gave them knowledge. Bitcoin gives you a monetary system that is open to everyone and cannot be manipulated in the sense the current monetary system can by the elite...
I'm sorry but I don't agree with Garys stance on this. I think he has completely missed the point....
I’m eager to start investing but need some guidance. Any advice or recommendations for support?
It's definitely a smart choice to seek help from experts when you're starting to build your financial portfolio. It can be quite complex, so getting professional advice is a great strategy.
Consulting financial experts like Della Martin can be a smart strategy to optimize your portfolio, offering valuable insights to guide your decisions.
By investing in high dividend yield stocks, ETFs, and equities, I was able to achieve a net profit of approximately $115k. It's been a highly successful venture!
I ensured that $25,000 of my portfolio was invested across various markets to diversify my investments.
You definitely need experts like Della Martin, a trustworthy trader, to make it happen.
Gary, I love your take on the economy etc.
You haven't at the time of making this got a total grasp on Bitcoin and crypto though....
Brought your book yesterday. Thanks for sharing you knowledge
Look at the chart and zoom out.
Gary, your obviously a smart guy, and I’m subscribed to your channel, but mate, you need to revise what you’ve said regarding Bitcoin (not necessarily crypto..)
Completely off his head ey? I’m pretty sure he’ll revise his position as he’s a humble kind of guy
word
Especially now BTC is at 100,000 with a market cap that almost caps gold.
Thanks for this Gary. I know people who have been absolutely killed by bad crypto investment.
lol you can lead a horse to water
Bad crypto investments? Can you elaborate...
It's all about timing, if they invested during europhia of hype then it's their fault
Invest in crypto in the bear market and you will make 10x at least
Gary thank you for all you do brother ❤
06:05 with respect Gary please educate yourself about the differences between bitcoin and ‘cRyptO’
@@MikeStillUK you mean the difference between crypto and bitcoin, the thing that bitcoin is? Not sure I’m seeing the logic
@@wakeyskate bitcoin was the first ever cryptocurrency. Everything since then is a copy of bitcoin. A scam basically. 99% of all cryptocurrencies have gone or are going to zero against bitcoin.
Very interesting to watch this again after 2 years . Would love to know your thoughts on Bitcoin now Blackrock is buying thousands of them.
@MarkJones-gt2qd
I think it actually aged very well. I purchased small amounts of about 20 different coins around the same time he made this video. Currently, 4 of those coins are up massively (bitcoin, ethereum, chain link and Solana). The rest are down anywhere from 60-90%. Overall I’m down about 20%.
If you’re only looking at bitcoin, he would be wrong. If you’re considering crypto as a whole, it absolutely shit the bed. If 3/4 of the S&P 500 was down 60-90%, the market would be in a panic. It wouldn’t matter that the other 1/4 was doing really well.
Didn't age well, if nothing else because of his voice.
Me and all the other people who understand bitcoin
Bitcoin, not crypto. Whether you learn it the hard way or not
@@TheCommonS3Nse All you had to do was buy bitcoin. Everything else is a centralized scam. Bitcoin is not crypto and everything claiming to be crypto is trying to ride the coattails of Bitcoin.
Bitcoin is the new index fund. Learn about it. Study it. Like Saylor says: you spend about 80.000 hours of your life making money. Might as wel spend 80 hours on how to keep it.
Read the bitcoin standard. Avoid all shipcoins.
You’re welcome.
@@amooij Saylor is a scam artist though?
@ based on what grounds? He is not shilling a security. He’s telling you to buy property like a farm, but better property. Never does he ever tell people to buy his stock. He does tell you to buy bitcoin because it’s the hardest money ever made and it’s eating the world.
Push for better wealth distribution - how? How do we do that? Genuine question.
Impossible. You'd have to tear the current system down and build a new one. THEY will never allow that, and the Pandemic has shown that they have control levers to make the populace obey to their every command. Yes, the game is rigged and everything is a ponzi- so I'm going to take my chances with crypto where at least I get to make my own rules/ choices than the matrix of the 'real world' where everything is an illusion
We opt out the system and buy bitcoin.
Not all in , not crypto.
Bitcoin.
Love Gary’s content.
@@Improverball agree with opting out of the system. disagree that bitcoin is the only option. bitcoin is already co-opted by the rich. bitcoin was the start. crypto is socially enforced networks. crypto is the revolution. yes there are lots of scams but if you find the right community you realise that this is how we win
We think the people one tear above us are rich. That's why the middle class pay so much tax.
@@zrymillYou talk all about supply but say nothing about demand. Why do we need more houses? Because there are 10 million more people in the UK compared to 30 years ago, lestvyer was net 700k immigrants. Thats a new city of people in a single year who all need to live somewhere and send house prices through the roof. We cant build a new city every year, we can't concrete over the countryside to house the world. Close the borders, reduce demand.
I'm a bitcoin believer. I actually agree with Gary 100% on this. I don't think this message is for people who really understand the ins and outs of crypto. However, for most people, it's highly volatile and they should avoid it. The majority of cryptos are worthless.
One might say that there really is only one way to learn.
Recent ATH's in BTC (not other cryptocurrencies only BTC) and GLD would say that the advice in this video aged poorly. Ignore BTC at your own financial peril.
I've been binged watching all of Gary's videos for the past 2 weeks like it's a Netflix series 😅
Love your economic takes on tradfi but I know to switch off when you start talking about crypto.
4:55 is because of the broken Fiat system. Fix the money fix the problems. 3T debt interest wont pay itself.
Anybody who has studied Bitcoin for more than 1 week understands it is not like all the other cryptocurrencies.
Do you own research and don't listen to sweeping statements like this
Can we have an update on this video.
This is what 5hrs of research sounds like, good intentions, he’s totally right about NFT’s. Honestly his advice is sound, unless your vet knowledgeable don’t touch crypto and for god sake don’t trade, especially with money u can’t afford to lose.
Especially true of people who use leverage, same can be said for gold traders! Leverage is for professionals, not Danny from down the local pub!
Exactly. Not sure about the good intentions though. Shockingly ignorant display from an otherwise open minded and intelligent cookie. Shame
@@northwestcoast He's a regime shill. He literally shills central banking and authoritarian power over money, he just wants his side to have the power.
You don’t understand NFTs. Let me guess, you think they’re simply jpgs, right?
🤦🏾
Haha you don’t understand crypto they all say
Love Gary, speaking the truth to power.
I'd be sitting on a big pile of melting fiat if I listened to ppl like Gary. You can mid-curve life if you want, but some of us don't have that luxury. Risk is work. Belief is calm in the face of adversity. Stop trading and believe in something.
@ we have Bitcon going on here, that’s right Bitcon not bitcoin. Keep your snake 🐍 oil salesmanship to yourself.
gary has good takes 99% of the time
no trader is ever perfect
gary should do an annual video about his current feelings of btc
you didnt understand any of it... he has the same feeling about btc -it's a risky investment. the fact it went 100% doesnt matter..NFT pictures did even better. he's not in a crowd trying to predict bitcoin price. there is 40000 other assets on the markets, why bother yourself with something that doesnt gives you ownership in a legal sense?
@@EllieI-d7p huh?
I think you need to remake this video Gary given the approval of Bitcoin ETFs and institutional demand. You didn't mention that bitcoin has a limited supply of 21m. At the time you made this, there were many massively overpriced NFTs and worthless altcoins. Thankfully, many of these have been flushed out of the system. I think you have generalised too much. Not all crypto is created equal. Enjoying your channel btw
He also put all crypto into the same basket as Bitcoin. Ie NFTs . They are definitely not the same beast. The risk levels difference between something like a Bored Ape NFT and Bitcoin are massive.
There is no institutional demand - only instituonal infrastructure. No investment bank or asset maanger is putting their own money in. They're putting client money in. And only if the clients explicitly say they want to. Bitcoin is a ponzi scheme. It only stays afloat as long as people are buying in. The problem with cryptocurrency is that while demand can pump up the value, lack of it will drop the value - and as all of the demand is synthetic, the value (even of bitcoin) can drop to 0. On the other hand, say gold ETF prices can be inflated by demand, but when the demand drops the value of the ETF still can't drop below the price commanded by physical gold.
agree, he should take a closer look at bitcoin
even bitcoin is just speculation that people will still want to buy it, people buy bitcoin just because they think its going up in value
@@DemosthenesKar feel free to check my videos of bitcoin in the real world. I’d be surprised if you still think that way afterwards
Thanks for continuing updates and for keeping us financially Educated! Regardless of how bad it gets on the economy, I'd rather trade the crypto market as it's more profitable than holding. I made a Hundred thousand dollars from trading last year even though I barely trade myself.
Trading without professional guide... Huh I laugh you, because you will remain where you are or even make huge losses that will stop you from trading, this has been one of the biggest problem to new traders
Mrs Sonia Dixon was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from Sonia Dixon.
Sonia Dixon's analyzes go beyond superficial trends. It delves into technical, fundamental and sentiment analysis, providing a holistic view of the market.
I and my brother are favoured financially, Thank you Sonia Dixon. $32,000 weekly profit regardless of how bad it gets on the economy
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
Well, Bitcoin is backed by energy. I hope as a LSE/Oxford graduate you can understand that. 🙂
Decentralised ledgers are a technology that allows people to keep assets on a decentralised financial network.
Assets? What assets? Are shit coins an asset? Only if there are fools to pay for it, once there is no speculative demand for those "assets" their value becomes 0.
@@torent40have fun being poor
Dude, ten years ago Bitcoin was $20, it’s now 70,000 and is predicted to go much much further. It is the best investment going so far
Yeah until it gets a new value of zero. 😅 .. it could be but i am not sure. It's a great idea about this bitcoin but it really isn't backed. I am not an expert.
@@iborass so hedge and just buy a little bit of a bitcoin, any you can afford to lose.
Just checking in again to laugh at this video. 😂
Lol, I thought this guy was legit
@@juleshatesjiujitsu He is, and he is still right. It's a pyramid scheme that can collapse any moment. Just because it hasn't yet does not mean it isn't going to.
the bitcoin standard is a good read Gary
Making comparisons of bitcoin to a company stock is just flawed logic.. It's like asking who is the CEO of bitcoin? It's a technology, you own part of a network not part of a company.
This didn't age well. I understand that people get rugged or roundtrip their profits, but there are professionals like me that understand macro cycles and there's zero reason to invest in anything else but BTC/ETH/SOL.
Keep up the good fight. I love this format of you walking and talking
Bitcoin to me, is the collective power of people who come together to against the system.
I asked you to make a video on Crypto so nice to see your view although I beg to differ. Yes it is very risky... anything new is but its the direction the world is moving towards. There is more and more use cases day by day... it is not going to change over night and all the big organisations are now getting in on the act. Of course you have a different view to this but similar things were said about the internet and with the meta verse jargon and the way everything is becoming robotic and digital... its only natural that money will follow as fiscal money simply does not have the speed this will have. Anything can fail but the principle of smart contracts and block chain itself is very robust, that cannot be denied.
The problem with bitcoin is it’s player vs player, it will keep going until it runs out of sellers, once it’s ran out of sellers it will drop, it will pump again because it will also run out of buyers at some point, but it totally operates out of destroying the largest holding players direction, you can tell by how it moves it’s constantly pushing against the majority
2 years ago, BTC was at $17,000... today's at $97,000... Let the Richs be rich and become one of them, starting with adopting their mindset.
Been a subscriber for a while and have enjoyed the finance/political content but this is a bit of an odd take...
Crypto at the very least allows for diversification in investing; exposure to it is healthy. Surely young people especially should be taking those risks to try and fight back against wealth inequality by investing in assets like cryptocurrencies as they can afford to lose money when their responsibilities are limited.
I personally have exposure to Bitcoin through MicroStrategy, and it's been one of the best financial decisions I've made - certainly better than buying gold or a house! Would be interested to hear your thoughts on MSTR too.
Pretty sure El Salvador would disagree.
Or Blackrock
A busted banana republic
Think he's refering less to Bitcoin and top names and more the scammy stuff
yeah, can confirm. Made documentaries there to prove it
@@JoeNakamoto I've read a few article online outlining poor adoption of BTC in El Salvador, with something like 10% of surveyed population actively using it - was your experience on the ground radically different?
For somebody who usually speaks a lot of sense, it’s clear to see you don’t understand the concept of BTC and cryptocurrencies. You just sound like somebody who is bitter about losing out on an investment, or a typical no-coiner.
Hi Gary, love your analysis here. Haven't heard the addiction thing but makes sense. Lots of people on my circle invests in these things.
I'm wondering what you think about Rishi Sunak stating that the G7 economies will creat a centralised digital currency? If you haven't seen the video it's on the hmtreasury TH-cam video (who would have thought they had one!).
Take care pal!
Rishi Sunak is an idiot who says something twice a day to try to get intelligent people to say he's a nice boy, he's a smart boy.
waiting for Gary's answer, but personally, I do not trust anything Rish! would push.
A CBDC is the end of your freedom and the end of capitalism.
The only use cases for a CBDC are totalitarian, communist or feudalist (including dictatorships in feudalism).
There is no reason for a CBDC other than to remove power from the peasants.
How are those friends doing
@@dennykeaton9701 they will be investigated by the government once they find out they have the heating on and lunch.
High quality video content! I have another question: someone transferred me some usdt and I have recovery phrases. {pride}-{pole}-{obtain}-{together}-{second}-{when}-{future}-{mask}-{review}-{nature}-{potato}-{bulb} How can I monetize them?
Look how right Gary is on all his points, highlighted by the collapse of FTX this week. Keep up the videos bro, great content.
And now if BTC ETFs gonna approved?
@@DokiSarosiIt gets worse, the volatility of crypto is what makes or loses people massive amounts of money, a crypto ETF will DECREASE volatility and the ability to make money, as large fund providers will need to purchase and hold crypto to passively track the index.
Wasn’t the collapse of FTX caused by Sam Bankman Fried stealing his customers money?
No bank, stock broker or ratings agency ever stole or defrauded it's customers money. O shit mine did.
Aged like milk this comment
I'm saying this to make a particular point because I currently have no crypto: It worked out better for me than anything else I've ever bought. Twice, my Bitcoin went up more than double and I sold, paid my taxes and went on with my life. Don't risk any more than you can afford to lose. But that's true of every investment or bet. I've lost money on Nat Gas and Wheat as well as various Stocks but made money on Oil twice and various other Stocks. Property has so far been a winner the whole time but who knows? If we see a massive recession in Europe, it may drop like a stone. Property is almost free in some parts of Italy, Spain, Portugal and France because people all moved into the cities for work. Nothing is certain. At all. Everything can lose value, including solid Gold. All you can do is save and hedge your bets so that if 3 of your investments drop, another 3 might go up. Or maybe you've got some cash to buy the opportunities if they present themselves. Nothing in this world is simple, particularly Investments.
Bitcoin paid my mortgage off for me at 29.
Well done. I like Gary but like many these days, he thinks his opinion is always correct even when he hasn’t done any form of deep dive into crypto or blockchain. Skimming the surface like this is actually quite dangerous. Michael Saylor and Larry Fink were just the same - very verbal about crypto being pointless….until they actually looked into it. Then they became fans once they saw the use cases (yes there are use cases).
Unlikely but maybe.
Yes it's helping me get between pay checks right now. This the one thing I've ever heard Gary talk about that I think he is wrong on.
@@themiddleplace For someone to make a profit from Bitcoin, someone else has to lose out. It's basically just a game of poker but if you win, you pay taxes on your winnings. Sounds pretty rubbish when you think about it.
@@ians9085 it's not the same as the lottery
firstly I love the work you are doing to highlight social inequality. This video does also make a strong point. However I think its important to differentiate between NFT's and so called Meme coins (the ones you are highlighting) from others like Solana which have actual real world application ie. Solana blockchain may soon provide payment services for visa ect. Some are more than just coins, they are businesses with real utility. As for bitcoin, since you made this video many institutions including pensions and nation states are buying bitcoin hand over fist. bitcoin is now 100k+. would love to know your updated opinions on these points. keep going with your channel, I LOVE IT.
Gary talks about a lot of things he actually doesn't know much about - this video is just a more glaring example than most.
I'm sure he knows what he's talking about. What we see is called pump and dump. I am not against crypto as long as people understand that it is pure gambling.
3:45 bitcoin is the real money
i lost a lot of dough messing around with crypto in lockdown era 2020/21 (sold most of it in 2023 when this vid was made?). But I tell u i wish I'd put more than £100 on BTC when it went to $16-20K last year...it's just hit $61K (march 2024). Damn. Could have trebled a couple of grand
So it all sounds like gambling then. I lost money on the red but could have made money trading on the black 😂market
@@endxofxeternity I know right. it's easy to see when you haven't bought in to the hype, but these bitcoin evangelists just wont accept their electronic 'god' is a false profit. (Do you see what I did there).
You didn't do the work to understand what you had and you're still falling into the trap of thinking you are too late. Those who don't do the work will always sell & give it over to people who have. Bitcoin is going up forever Laura.
you're the man , Gary , cheers. have a nice day.
INCREDIBLE video. Thank you so much for doing this and spreading the word. I'll be forwarding this.
You're about to misinform a boat load of people smh
I strongly disagree with this blanket view on crypto. Yes, there are people taking advantage of others with crap such as NFTs, but to say crypto is inherently bad is misleading. The usual reason for this is ignorance so I implore people to learn about how Bitcoin began and why crypto is the best form of money made yet.
Have you seen Kaspa? Everything other than POW is a Trap.
It was supposed to be a safe haven against inflation and how that turned out ? It was supposed to be super duper payment system, I personally do not have any issues with money transfer and if I go abroad I use Revolut that gives you unbelievable exchange rate and no transaction fee. Bitcoin is not backed by anything unlike currencies that are backed by gov and tax system. All those super secure wallets that only you can access, can you tell me how many people lost their passwords or die and those crypto just sits there? Everyone gets what they want from trading and if you want to see your token going down 80-90% and then pray it will go up then that's your choice but don't call it investment. Anyway governments are cracking down on it , do you really think gov will accept paraler payment system ?
It was made to simulate real money without inflationary central bank. NFTs were a manifestation of how useful the cryptocurrencies actually are. No utility, no control of its market price and no real value. That's my quick summary.
You've just proven how thick you are in one paragraph. Best form of money comes from a central bank and one which is equipped with nuclear weapons that could dislodge earth from its orbit.
Rule number 1 don't invest what you can't afford to lose.
Lots of people investe and don't trade.. Another anti everything , that hates successful people.
Legal Ownership and Rights
Claim: "If you buy Bitcoin, all you have is a Bitcoin... It gives you no legal ownership rights."
Debunk: Owning Bitcoin is akin to owning any other form of currency or commodity, which also does not confer ownership rights over physical assets. Bitcoin's utility lies in its use as a decentralized currency, investment vehicle, and store of value, much like owning gold or other commodities which also do not confer additional ownership rights.
it just basic speculation, its not backed by anything else than the belief by people like you that it will go up in price
why do you sound Jamaican? I dont think this video is going to age well. Although I do appreciate his warning message for buying very bad crypto projects that are pyramid schemes however if you had bought the best performing asset for the last 10 years in small amounts and continue to do so you will be better off. Consider BTC as a store of value and a proven inflation hedge.
"a proven inflation hedge"
gold is desired - and has really useful physical properties
art is desired - it is inspiring to look at
asserts like stocks & shares generate revenue, they provide value
what does BTC do? I can't even use it to move money across exchanges; instead I have to use a PoS crypto since transaction fees are much lower with those ones.
Wouldn’t go as far as ‘inflation hedge’, not yet anyway.
@@JiffyCakes in an ever increasing digital age bitcoin will become digital gold. Its already proven itself as an inflation hedge over the last 10 years. Bitcoin you can store easily off exchanges if required : you can send it to someone across the world without an middle person: its deflationary : it is becoming part of peoples pension funds as we speak:
Yes all those points you made on art and gold are true, but having bitcoin in your investment portfolio is a very wise move to consider.
how long should we wait?
@@saintmte5076
His accent is MLE (multicultural London English), which has been heavily influenced by Jamaican patois.
I agree that crypto currencies are risky assets. But shares in Apple are also unsecured assets and does not transfer ownership of the companies assets to shareholders.
Like your channel but gotta disagree with you on this one. Crypto is more than just gambling, there is that aspect, but there is also a community hidden from the mainstream of holders, accumulators and yield seekers in decentralized finance. After being in crypto for 5 years I have retired and my kids won't have to worry.
By definition it’s still gambling, though. If you make money without selling a real world product or service then you’re making a bet on something. There are only 2 ways to make money: You can trade goods & services, or you can make speculative investments.
You just exited on time.
You got in at the start of the ponsy scheme
You might be lying like many do to sell people the idea of crypto. But even if you're telling the truth about yourself, for every person who succeeded in crypto there has to be thousands and thousands of other people who lost it all. Because crypto is not real money, the real money comes from the people who buy digital coins with their hard earned cash.
Gary honest question, did you ever invest in crypto?
If so, how long did you hold it for, more than 8 years?
Bitcoin up over 100% since this video.
Love your content and views but Bitcoin is a must for our society Gary.
Keep you the great work!!
100%. For someone as smart as Gary he really dropped the ball on this. Honestly, even meme coins and quality Layer 1's, etc. If Gary's mate working in Aldi just threw £100 in to a meme coin that gained traction over a couple of years he'd probably have tens of thousands of pounds right now. I make a decent salary, but nothing like what I made last cycle in crypto, physically cashing out 6 figures profit in to my bank account.
.means nothing just because people still buying in doesn't change anything. It needs to have utility to be worth something at present it's purchased and held as speculation it will continue to increase in value. Simple fact is once more people start to want spend the money they hold in bitcoin than want to increase their holding. It will drop. No floor to where it could get to it's intrinsic value is 0, the price is entirely down to sentiment if you bought at 40k and are holding at 60k that's great what happens when it's 30k? 20k? 10k? How long do you keep holding when do you join those dropping it so your not left holding the bag? When people argue that a share is over or under valued they can point to analysis expected future profits, assets held etc. You cant do that for bitcoin. It's entirely down to keep the flow into the asset more than the flow out, and theirs a term for that it's called a bubble. Lots of people made a lot of money in previous bubbles but only when they got out before the pop.
@@pmyumjr Cool, let's re-visit this reply in 8 years after the next two halvings.
@@pmyumjr already has utility. Store of value for one. Disagree but all the best 👍🏻
The point he's making isn't that people are 100% doomed if they invest in crypto. It's that all crypto is a highly risky thing to invest in, and it's not a solution to wealth inequality. If someone had put their life savings in BitCoin November 2021 ($62,000/coin) they'd have less money today September 2024 ($55,000/coin). If you look at any crypto performance over time the chart is all over the place. If our theoretical person had put $62,000 into a low fee 500 index fund in November 2021 and plowed the dividends back into more shares their investment would have more than doubled over the same period of time. As working class people we should be able to have enough income to not have to resort to risky gambles to have the same ability to own a home and have financial security as our grandparents had.
Love your book Gary!
Well this video is ageing well. Nice one Gary.
He never said things won't pump. If anything, this is exactly what he said. Things will pump, and everyone is being persuaded to throw their 1-5k's into crypto. So the big dogs can just zonk it.
Bitcoin was $42k when gary made this & it's now at $100k. 2.5x return in 2 years. He is good guy, but he doesn't know everything. Be careful about buying in now - look for the bottom in '27 and hold for 2ish years & you should see about a 4x of your money. Use the time between now & then to learn. You're welcome.
Bitcoin changed my life
Gary I hope since this video you have done more research on Bitcoin. Mises Institute is the economics we all need. Really appreciate your book and thank you for sharing the human error in our financial system. Keep up the good fight.
Brah this is the first ball I've seen you drop. Your video title is demonstrably wrong.
I would vote for Gary to be PM/ king/ president. I am midway through his book. But a lot has happened in crypto since this video and BTC is probably one of the most rock solid investments you can make now.
It’s just interesting that you clearly spent a nice £100 on this vid, when you could’ve just invested it in a crypto asset to TRULY test your theory.
Don't make fun of people who lack vision. It isn't kind ;)
If you’d bought $15k of bitcoin when this video was out pushed you’d have $100k today (22 months later)
You own none of the stocks he listed; they can all be taken away, debased. Bitcoin you own, it cannot be debased, it is not controlled by the gov (or anyone), and it is backed 1:1 by energy (majority renewable).
Gary is absolutely great but I think he is wrong on this. You don't own any of the Apple stores or their actual stock if you own their ticker, houses are great yes but a nightmare to run any sort of portfolio at current borrow rates, 5% savings barely hedging inflation and good luck getting in at the right time on a S&P tracker if your time is shorter than 25 years. As Robert Kiyosaki said "£$= Governments money, Au=Gods money and Crypto=Peoples money".
What can you do with your bitcoin if no one is willing to exchange for any good, service or money at value greater than 0?
@@JevansUK with respect, this is not an effective argument against bitcoin.
One could substitute ANY asset where you’ve written “bitcoin” [gold, USD, diamonds, stock, treasuries, real estate, etc] and the answer would be the same, “nothing”.
The value of ANY asset will always be tied to what someone else is willing to pay for it. And so, just like ANY asset, it’s important to understand how it functions.
Suggested reading: “The Bitcoin Standard” by Saifedean Ammous
I used to believe bitcoin [and all crypto] was a “scam” until i did my homework and took the time to understand how it functions. That’s when the lightbulb 💡 moment occurs…for all of us.
@@billy-black-socksNo gold has industrial usage, decorative usage etc It's not productive but it is a physical thing that has utility, Bitcoin is entire reliant on the perception that it is worth something.
@@JevansUK What can you do with fiat that's being debased into oblivion by central planning? Worthless currency is more a certainty for fiat than it is for programmable money that cannot be debased, gets harder every 4 years, and is exchanged globally across any network.
Can one control the ads which are placed over the videos? The ad that popped up after the video was for Coinbase :/ That goes completely agaisnt the point of the video
Great video mate. Are there any circumstances that would lead you to invest in crypto currency or do you think they'll all go to £0 eventually?
I've never invested in crypto and I very much doubt I ever will, but you can never say never. A good trader is always ready to accept he is wrong, if he turns out to be so. If that happens, it happens, but at the moment I think they are pretty much cons. I am actively short (although not massively, as they are super volatile).
@@garyseconomics Thats really interesting, thanks for replying. Looking forward to the next video mate keep up the great work👍
0
Keep it going Gary your awsome, always bang on, you will definitely get million plus ➕️ subs keep going.
Most important is the information your giving to the working class, I applaud 👏 ✌️ you. FANSTIC VIDEOS.
@@garyseconomics mate you convinced me you know nothing about Crypto. Typical University educated but no common sense. Out of the 19,000 Crypto currencies yes 18900 will go to zero. But there are a few that will go on to make millionaires. Look into the ISO20022 currencies and what is happening with them in November.... You need to upskill on this
to me, bitcoin is closer to a stock than a currency
I don't understand any of this shit, one thing I do understand is I have spent over 35 years quoting tenders winning orders for materials that I quoted to supplies large overseas companies to make a margin of 20 to 33 percentage on physical goods I ship....that I am absolutely debt free, I'm not a multi multi millionaire but....I have cash, own several properties, and that a big house is worth 4 apartments, 4 Apples equals 4 Bananas, a bike is better than walking I'm totally unaffected, I can slash rental income by 50% and still live comfortably, I can buy more property for cash, and I'm waiting for the next dip, but no debt
What's the pound/euro backed by?
Big ups and big love for the awesome daily content. Because inflation devalues your savings, it compels everyone to be an investor. Meaning you need to preoccupy yourself or offload your time/energy to the study of investment opportunities both of which are very costly. Thanks to Harry’s Dent for showing me the appropriate way to get into bitcoin investing and trading with his trade signal and investing guidelines. Investing and trading are more than just having TA skills. There is a big component of discipline and emotional maturity, that one has to work on! Time in the market vs. timing the market. If you keep that mentality as an investor, you will stay calm during the storm! Within some months I was making a lot more money and have continued on that same path with Harry’s Dent.
He mostly interacts on Telegrams, using the user-name,
HarrysDent🙌
In a field as rapidly evolving as cryptocurrency, staying updated is crucial. Harry’s continual research and adaptation to the latest market changes have been instrumental in helping me make informed decisions.
Nice, I was just hodling before I found Dent. In my opinion he is the very best out there.
I read about Harry S Dent too on the internet. That was how I connected with him. Good is got people’s back too
I partially agree with you. There are thousands of scam coins out there. But I believe that Bitcoin and probably Ethereum have a long future. If you are going to buy cryptocurrency, invest less than 10% of your wealth, and only buy Bitcoin or Ethereum no scam coins. This is not financial advice, and any financial decisions should be made in conjunction with an independent financial adviser.
Loved hearing your thoughts Gary on crypto!
You do a great job explaining Austerity and Economics and your channel is great!
I liked hearing your points of view
I will say I invest in crypto and in 2022 highlighted what happens when people invest in crypto companies that are centralised!
A crypto native would argue that crypto is about decentralizing finance and separating government and finance,
I will admit though for every good Crypto currency there are 200 magic dogshit coins!
Thanks for the content😀
Thanks for sharing, Gary. Brilliant.
Gold is just Bitcoin you can't send down the Internet.
gold has actual industry demand for inelastic products
Bitcoin crashed to 100k this week...
In a weird way I find this video quite comforting.
An 'expert' failing to understand the difference in mechanics of bitcoin vs. others. Failing to understand the mechanics of our F.I.A.T. money.
We're still early.
The biggest shame is he's failing to see this has been the biggest chance for wealth equality of all time. People have been shouting from the roof tops about bitcoin for over 10 years.
Why complain about money without understanding what it is and wha the alternatives are?
If people miss the boat by now - they deserve to be poor. Bitcoin has been slapping them around their face for over a decade.
I think you'll find crypto, like many speculative assets, has for sure made a select few lucky people "rich". But it's also made many more rich people far richer.
A poor person cannot afford to invest anything considerable into a high risk asset.
I'm not sure why you're seeing it as a wealth equaliser, it's the opposite.
I agree with you bitcoin is different and I have money on it too. But... it won't help the rich poor divide. The bitcoin rich will hoard and lend against their holding and stay rich.
@@Jadder88z my friend, I am far from smart but have ALWAYS been prudent with money. Always hoarded hundreds in many of my bank accounts but once I got my head around crypto in 2020, I realised just how misinformed I was about investing.
Many ppl I tell about crypto fail to make money because they don't understand simple investing let alone crypto. In fact, you'll realise that they just don't want to know. If you can't *guarantee* them they can make money and wont lose any at all then they just dont want to know. The difference is lack of wanting to learn, which would have taught them that investing is a long term game and one must have patience; no matter the asset.
Since 2008, all you had to do was hold BTC for 8 years (2 bull cycles) and you'd be in profit; with a £100 investment turning into over £5000 (meaning the poor could *certainly* get wealthy).
Knowledge is key, but ppl nowt have the discipline nor patience to acquire it.
Sad really.
@@saintmte5076 when there's no money to put food on the table, it's hard to hold onto investments.
I agree for the most part though, it's just not always that simple.
Still early, so so early
I've made a lot of money with cryptocurrencies, but I'm better than the average Joe with math and with identifying red flags.
It is risky, however, I don't think it's great to walk into a bookies and say it is safer...
bro i disagree with you. entirely and i think you looking at it the wrong way this is the issue that when you do research beyond simple macro level yes its wild wild west but you have to also understand change that happening technology market and crypto is trillion dollar asset it is very risky , very risky should never be main source investment for someone that looking to invest life savings . alot of projects in liquidity markets, in procurement, in defence , in security alot of crypto currency ledgers are takling fraud in different sectors and bringing asset management on to blockchain such as land ownership and insurance alot of what happening beginning stages .i will never denounce whole sector generalise it . yes there is rug pools and scammers also teams investing time in building layer 1 project. you mention stocks but where were you class technology stocks? if you give example please provide the whole truth not a portion of it. If you don't understand it let someone explain it to you
2:20 Bro you are totally wrong. Bitcoin is money, you can exchange it for whatever currency you want (or whoever accepts it). The money in the bank belongs to the bank, you do NOT own that money. Bitcoin you hold yourself is owned by YOU. That is true property ownership. Bitcoin is bigger than just and investment. Zoom out. Cheers
I agree that crypto is mostly BS. But bitcoin is a legit commodity and with respect, I disagree with Garys assessment of it.
BTC was hijacked in 2017.
It is centralized and does NOT function as per the white paper.
Sh*t coin.
Is it fuck - Which government is going to bail it out when it has its 2008 style crash? Who are they going to tax to rebalance the debt with real labour value?
@thekingdomjester totally agree. People who do the homework realise bitcoin is very different to crypto.
@@ethelmini crypto will bail out the gov this time🤡
@@ethelmini crypto will bail out the gov this time🤡
Gary, mate, I have made so much goddamn money investing in Bitcoin. I've been DCAing for 6 years and I am up so much that it would take a societal collapse for me to ever be in the red. You are doing good work but this would be an example of an opinion being spun off as a fact and I think if you're going to touch on this topic, a topic you don't seem to be as well-versed on as your other financial acumen, you should be more granular and less broad stroke with your advice.
11 Bitcoin ETFs were approved by the SEC, and Bitcoin has gone up 100% in the past year.
Meanwhile, "real money" buys you less due to inflation
In your first sentence, due you think the former may have led to the latter, and therefore that Bitcoin is in fact one almighty speculative bubble (they can fall incredibly fast)?
@@maxt1617
No, Bitcoin has experienced this kind of growth many times before the introduction of ETFs. In 11 of the last 14 years, Bitcoin has been the best-performing asset. While ETFs add legal legitimacy and can accelerate its price discovery, Bitcoin would have continued on its trajectory regardless. The extreme volatility we see, driven by excessive leverage, leads to boom and bust cycles, but the overall trend remains upward. You can either have your life's hard work eroded by currency debasement, or preserve your wealth with Bitcoin. For me, the choice is clear
Update: you were dead wrong. If you bought crypto exactly when this video came out and held it till now, you'd have a 10 bagger or more.
I hear everything you’re saying, but bitcoin isn’t owned by some rich guy (unlike other cryptos)
@Gary I wonder what your thought was on buying homes in this time period.
I personally have a bit of bitcoin, invested a while back. Currently 1.5k in profit.
I plan on leaving it just incase it goes "to the moon"
But also accept that i could loose the lot.