@@hector9586 very nice man, I had picked up a ton of MANA ages back and it blew up randomly when Facebook announced their META thing, and I suddenly was feeling much better about picking some up. Cheers on profits mate
@@powerhouse884 I'm just illustrated that there are people who are stupid and ruined their lives much like the original message said so yes, the original message was true 100%
4:40 Gold has a fuckton of intrinsic value. It is literally used in all processers and computer chips atleast in enough quantities to shield the other metals if alloyed as electrum. Your GPU, CPU, Ram, Motherboard all have gold in it and a technological society literally cannot exist without gold as well as copper and silver (yes these are used in components as well, silver generally used in batteries, capacitors, etc and solar panels). To say gold has no intrinsic value is like saying Oil has no intrinsic value which is insane.
@@TheMapleDreamer Well, if you’re dying in a desert and someone offers food/water or a lump of gold - then the demand has changed because of the situation.
Gold has physical properties that make it valuable beyond any speculative value we can ascribe to it. I also want to add that, when something's value is almost 100% speculative, then public opinion is of the utmost importance. If the consensus is that it has no value, then it has no value.
>Gold has physical properties that make it valuable beyond any speculative value we can ascribe to it. The Rothschilds set the price of gold every day. gold isn't valuable, you been duped. there are less spaceships in weight, than gold on the planet. but weightwise, gold is worth more? explain?.... cos it's a con. it's a set price daily by the rothschilds, and they make billions/day off of fixing it's price. it hasn't risen in line with inflation, every year gold actually gets worth less and less.
If the consensus is that gold or USD have no value, then it has no value. You fail to grasp that this applies to literally everything. It's economy 101. More specifically: Subjective Theory of Value.
While that's all fine and dandy the people saying gold has no intrinsic value are still correct, nothing has. It's all the same damn thing: Supply vs Demand. Easiest example: - starving in a desert? Gold has zero value, more dry land has zero value, water has high value. - drowning in the sea? Gold still has zero value, now water has zero value, dry land suddenly has value. - living a normal life in europe? Gold suddenly has value. Gold only has value on this planet because there are enough uses for it, go back 5 million years and gold is useless. Go forward enough and the price may drop as well. Why? Because there were literally estimates that the Milky Way Galaxy alone has 100 million Earths worth of gold. Same with diamonds, they are insanely valuable now, but there are literally planets raining diamonds. Nothing has intrinsic value, we ascribe it to it, that's a fact. People saying "k then give me all your gold" are just as braindead as people speculating their life savings away, because they can't handle the fact that we as humans ascribe value to things.
@@ocima_ankapa The difference between something like gold and crypto, is that gold actually has several important uses. Gold is incredibly useful to several industries. For example, gold is a highly efficient conductor, making it indispensable when it comes to all forms of electronics. Gold is also used within the aerospace industry, not just for use within electronic equipment, but also because of its excellent ability to reflect infrared light while still letting in visible light, which is why astronauts' visors has a thin layer of gold on them. And because gold is both non-allergenic and easy to work with, gold is also used within the medical field. I could go on to list even more uses for gold, besides jewelry, but I think I've made my point. All of this means that even if we stopped using gold for jewelry and other adornments, there would still be an incredibly high demand for gold, making it valuable. Crypto, however, only has value because some people think it does.
@@NorthzYT No it doesn't. Gold has value as a currency because people as a collective decided that it has value. You need to start thinking in more fundamental terms, going all the way back to bartering the good directly. Would a piece of gold allow you to survive any better than a piece of iron would? I would argue not. Food, water, clothes etc would. Any value that physical money, "precious metals" etc has is completely subjective. If gold was, say, an energy source, that would be a completely different deal, but when you have gold coins, it literally has no inherent value. Look at the post-apocalyptic fiction worlds and you'll see that people use bullets, cigarettes, heck even bottle caps as a currency. It's all about the perception, not the value.
Dominykas currency is not decided by people, it comes from the inherent value of something and how useful it is, like someone explained but is is more Thant that, and yes people in the past weren't stupid, but no currency ever was created simply because some "collective" decided it had value that's complete nonsense
@@NorthzYT LMAO dude what are you saying. Gold was made into coins because some bastards that were already rich decided to make it into coins. People have not changed whatsoever, powerful people make decisions and tell less fortunate people that something has value. Look at the world we live in today, why are iPhones so overpriced, why does designer clothes cost 10x what off brand clothes cost? Just stop and think for a minute. If there was an asteroid flying by that was rich in gold, and we harvested the gold from it, let's say 2x of what we have on Earth today. Do you think the price of gold would stay the same or devalue? I hope to god you can AT LEAST agree that it would devalue meaning that it has no intrinsic value meaning it is completely dependent on supply MEANING whoever controls the supply controls the value.
@@turdanc As the others said, Gold, like most minerals, has value for its inherent material properties. You are absolutely right in saying that value is a social construct (as are pretty much all aspects of social life), but this social construction of value often stems from practical uses. Also, it has value because of the capital, time and labor required to extract it. In your examples, you cite bullets and cigarettes, both of which have practical uses; bullets can be shot, cigarettes smoked (very useful if you're addicted and no one can produce them anymore). As for bottle caps, they seem like a good contender for currency as they are widely distributed.
Gold's usefulness doesn't define its value, that's a fallacious association. Value is not given by use, but by supply and demand, and demand is too subjective to give an objective value, intrinsic value would mean everything would be priced the same in accordance to wealth, that would mean it would never become impossible for an average person to buy bread at the store, but there are plenty of socialist and communist countries that demonstrate the exact opposite of that.
With minimal knowledge regarding cryptocurrency, I'll play devil's advocate and say that allocating high concentration of one's net worth to high risk investments isn't the worst plan, but whether if the asset class yields a high reward is another different argument.
These people must be sick in their mind instead of investing a few hundred dollars and then take investment out if they have profit and reinvest that profit they just go all in thinking its gonna make them millions,they deserve to have no money at all cause its stupid people that give money no value
Gold's usefulness doesn't define its value, that's a fallacious association. Value is not given by use, but by supply and demand, and demand is too subjective to give an objective value, intrinsic value would mean everything would be priced the same in accordance to wealth, that would mean it would never become impossible for an average person to buy bread at the store, but there are plenty of socialist and communist countries that demonstrate the exact opposite of that.
The WoW token is a crypto stablecoin pegged to one month sub fee. Mineable through in-game player activities or bought with fiat. Can be traded for a another token on the WoW chain, gold. Spend on in-game player items attached with it's owe visual image or NFT. Only thing missing is the ability to exchange the token back into its peg value of fiat for profit.
@@corymccarron7587 Actually its value is $28,810, as of this moment. What you mean is that there's no intrinsic value. Pretending there's no value whatsoever is just denying reality, speaking as someone who has never and will never buy into crypto because of the instability.
This is Crypto, people will forget about it faster than you think. New people entering the market wanna make money fast and often have no clue and look for cheap coins thinking they have a high potential of going up. If Luna survives I am sure it will attract new people again
@@DozleZabi Yes it is. Also the founder is like the Elizabeth Holmes of crypto. 100,000 wallets own a majority of crypto. Its more centralized than any fiat by a long shot. Buterin made note of this in his white paper published at NYU. Crypto has benefitted from the QE/FED 'ZIRP' and now that inflation has scard the FED into raising IR and QT, Crypto fell. Which means, Crypto is the same as stocks, and isn't a hedge against the market (like physical gold).
We'll see in the coming 48 hours. I don't even care if it goes to zero since I have no money in it, but there are to many people with extreme losses that keep buying to DCA in hope it will survive and in some years make them money again.
4:35 yes, that's why gold and silver have also been going down you know all blue chip stocks and fortune 500 companies are going down too, right? this is normal for spring
gold has SOME intrinsic value. it is inert, so it doesn't rust. useful in science and engineering. BUT it is OVERPRICED because it's " oooo SHINY". maybe that was what the person in chat is saying.
Gold is a finite resource on earth. You cannot replicate it, make it. There's no alchemy for creating it. That is the point why it's the whole basis of world economy. At any given time, there's a value for gold, let it be 17K per an ounce or whatever, it always has value because it's required for real life inventions and solutions which is the best "cheapest" conducting minerals on earth. Everything related to electricity, has something to do with gold, copper, silver, platinum, silicon.
@@Zombade80 I hate to break it to you Sherlock, but the dollar is no longer backed by gold and has not been for a very long time. Edit: AKA it definitely is no longer the basis for the world economy.
@@ocima_ankapa gold is physical. It’s value is tangible. Even paper money is more valuable than what amounts to online data for this very fact. The problem with crypto is it’s unreliable and frankly still not that necessary in today’s society.
It always makes me laugh when an NFT/Crypto shill says gold or silver don't have intrinsic values. We are talking about real world objects here, not bits in a file, in RAM or in a database.
I luckily stopped but I did make a lot of money through crypto last year it's going to have it's hard times but I definitely think it's paving a way for the future no doubt money will become digital at some point.
Sounds like Poker. Remember when Poker was really big and some Pro played at 10 tables at the same time etc bc they could farm the new people, get this noob money. But after some time nobody new came and it’s just pros vs pros and it got way less money etc. And yeah Poker is Still big but no way near as it’s peak. So it’s the same with everything, go in early and make money with it.
@@ActNasty5 yeah but this video is about a crypto coin crashing and first thing he says is NFTs are a scam!!! He’s an intelligent dude but doesn’t know shit about crypto
Gold has a value since it´s a good conductor and used in many tech. BUT if newer materials is inovated then that value could go away. But untill then, gold has value like platinum.
it's not $0.01 now, it's plunging even further at $0.0005. XD i have told everybody at the beginning. Whoever sell their crypto first wins the game. They made everybody buy buy buy, jack up the value. When they get the desired value, those who hold A LOT start cashing in. As more coins being dumped, the value plunge, leaving those who are still holding with worthless "coins".
Almost like some form of regulation creates stable markets, people are just walking into a scam for free. If you genuinely think you've found a get rich quick scheme, you need to understand that you will never get rich, you're just helping the guy who told you get rich.
Some people really made big money in crypto but they invested a few hundred dollars took their investment out and continued playing with profit,many invested their life saving and now are crying cause that money is gone forever they dont understand you have to invest only what you can afford to lose
In Final Fantasy XIV you have tue common currency gil but also storm seals, which are payment for goods&services to buy gear, so you are getting something tangible and of value in exchange for providing something tangible and of value (in-game that is, obviously). In the other hand, if you have a "coin" backed by rates in casino dealings or whether the wind will blow South, you're playing with fire.
I don't trade, I invest with a professional assigned by a crypto company that trades for us and returns profits on weekly basis for me and you can invest your capital and get weekly Returns of investment (ROI) without any extra fees attached
Seeing this pretend value stuff fail, having never been involved, makes me feel as though I'm not so stupid after all. Reality comes at you fast. Regarding Gold's value, Crypto currency and nfts can't act as a high level conductor to power the computer you use for them.
gold should only be bought when the economy is doing great since the price falls due to the gold bugs feeling depressed. gold should be sold when the economy is doing bad because the gold bugs are buying gold to hoard. in the apoc gold will not be valuable, copper, brass lead will be along with money since you can wipe your butt with it. you cannot get nourishment from gold and gold is not really useable as bullets.
Nothing has intrinsic value, the attempts to assign value to gold are fallacious, value is an agreed upon concept based around supply and demand, that's why value fluctuates, its subjective to those in the demand and in accordance to current supply. Demand is inherently subjective. Nothing has objective value and by result can't have intrinsic value.
@@bradensmith8682 That's a deflection, its irrelevant and I don't have a phone so unobtainum. Usefulness doesn't define value, how much bread does it take to buy a phone? Ignore the currency, how do you evaluate the value of bread to phones without a currency? Can you give me an answer in the amount of bread I must always expect to pay for a single phone? Would that apply in a thousand years? How about in a million years? How about a hundred years ago? A thousand years ago? Or how about we boil it down to gold, how do you evaluate the value of something without money? How much gold must I spend to get a phone, not the resources of gold, but how much gold would I need to buy a phone a thousand years into the future? Or better question, how many phones would it take to buy a painting? According to your proposition all paintings must be of equal value in accordance to their materials and usefulness, so tell me how much it should cost for a common painting to be bought by a phone in three hundred years?
I think this is the whole point, its not really magic money its who's first and who's second. If your first your going get the second guys money and if your second...well you just went broke.
buy in when it dips you'll get rich too, fear uncertainty doubt (FUD) is why people LOSE MONEY the housing market crashed like this in the 90s but people who had money to buy up and invest DID so now they are the millionaires people cry about. Also stop voting for the Blue party if you wanna be rich, only people who hate themselves vote democrat.
I love seeing everyone freak out, saying Doge is going to the moon, then looking at Robinhood and seeing it’s still only at $.12-$.15. Shit was at $.71 at one point and now it’s a giant win if it even hits $.16😂😂😂
thing is doge coin was selling for 0.0012 cents at one point now its at 0.12 its 100x so if u put 1 dollar in at 0.0012 and then take it out at 0.12 now u have 100 dollars not too bad eh?
but it was at less than a cent before people just dont get it buy when low sell hight you buy when it no one is talking about it and sell when they do. right now is a good time to buy for rxample bit coin and sell it when it goes up and people start talking about investing in it ect.
@@marlonyo “buy low sell high” only works when the coin is going up. There’s no way to tell what’s going to happen to Doge because it turns out it’s just a shitcoin like all the rest. You’re only thinking of the people that got lucky, you’re not counting in all of the people that bought before it took a giant dip. And there’s no way to tell when it’s going to go up or down. Elon said it was “Literally going to the moon” and right now it’s not even worth talking about.
Gold has intrinsic value because you can use the material itself as a resource. Gold has uses that are tangible in modern society. Gold plating for cables, some isotopes of gold are used in the medical and chemical field because they're useful in treating certain illnesses and preparing certain chemical solutions. Of course there's also the extrinsic value of gold as a status symbol like jewelry and stuff like that. Digital assets on the other hand derive 100% of their value from the context in which they are used, aka they have no intrinsic value. So yeah, that dude in chat should give me all of his gold and invest 100% of his life savings in Luna Coin. Let's go Lunatics to the moooooooon!!!!!
@@Boschx well considering that it's made up of the audience from last year that followed elons ideas of "buy doge" and "buy Shiba" yeah ofc. These people are so into this that they legit are willing to give a paycheck for the promise of "it will go up some day" but they have been saying that for the last 5 months
@@RealViktoa Shiba and Doge ARE pure speculative trash! Theres plenty others that aren't and have real life uses right NOW. But hey! lets laugh at people for trying to make money I guess, right?
People like to use term that the money "vanishes" on these selloffs. But people just remove their money from it so its rather *transfer* outside of crypto/market/whatever.
Crypto at the beginning was sold as the safest and most protected money transaction that would not fail to hackers or governments but this is precisely what has happened.
The thing is, the underlying cryptography in cryptocurrencies is really interesting, and it's got a lot of potential uses as a ledger for work being done. Likewise, the concept of decentralised currency is also great because it takes power away from the banks... However, jamming these two together and creating a market of 'trust me bro it's worth something' is plain irresponsible. None of it is stable, and there's the same issue of people with more money influencing the value of your investments. Literally nothing has improved, and it's 5x more volatile.
Honestly you could have just said crypto is like people trying to use Rubberbands as currency, sure you can use it for ledgers or to buy stuff at places who turn rubberbands into real currency lol. To me crypto is a bunch of people just trying to make a new money system, HOPE enough people invest for it to actually be worth something. But again relies on dumb people investing
Yeah I think most people don't know the relationship between blockchain and cryptocurrencies. The ledger technology, blockchain, has and will still be used independent of cryptocurrency success. Blockchain technology itself is fine and very helpful for many industries, crypto, well that's debatable.
@@seansanchez3703 Name me some examples instead of helpful for "many industries" like what exactly. I have never seen any useful real life solution from it.
>decentralised currency is also great HAHAHAHAA tell me you love getting scammed without telling me. HAHHAHAAAA. North korea and china have stolen 99% of decentralised cryptos, cos there's zero protection. hahahahhahaaaaaaaa don't ever touch stocks, a business, or crypto.
@@TurboGroszek1 Sure thing lad, to be clear I'm not talking about anything here cryptocurrency related. To start, supply chain which is a billion dollar industry, navigates the connection between companies and suppliers. IBM is a premiere example that utilizes the blockchains ledger system to help navigate this. Walmart I believe also utilizes it for backend supply logistics. next, any type of records such as ID. Korea is currently testing utilizing blockchain identification. But this could also extend to something like medical records or financial information. The main draw to using blockchain for this is security. The information is not just stored on 1 computer, there is not enough computational power currently to "hack the blockchain". Anyways these are just a few, without being any more long winded than I already have I hope this helps. Important to also note these are really "techy" backend things your average joe will not interact with, crypto was just the first public "use case".
The last time crypto dropped like this, ppl thought it was over and made videos just like this, its so funny how the same thing can happen over and over and the public’s reaction doesnt change or learn, the ppl that made gains during the latest pump, invested the last time crypto “crashed”, bull markets dont last forever and neither do bear markets
@@otrxking9660 BTC has "died" so many times. This is just another great time to invest. Never put all your eggs in one basket and investing in things like NVIDIA and Amazon as well right now are very good moves, but BTC will absolutely not die from this.
I think Bitcoin will always have value. Buying the dip. Either way I understand it's a risky investment but seems safer than all the alt and stable coins tbt.
i did Heroine for 3 years and i m totally fine now, investing your only savings in shitcoin seems to be much dumber imo :P That ruins lifes most (short time) drug expeditions don t Edit: And i was having fun, they just lost without having anything lmao
Gold does have intrinsic value though. As a material it has industrial uses and it's rare. As a material for jewelry and watches it is non corrosive and gentle on skin. There are actual reasons to want to obtain gold for practical purposes.
@@greenfroggood2392 jewelry can br practical. Watches are jewelry. Also silver has antimicrobial properties, so something like a silver cup is very practical for hygienic drinking. Even diamonds have practical use. They aren't just valuable because someone said so.
I don't know a thing about Luna, but I'm sure bitcoin will recover just like the whole entirety of the stock market. World is on the gutter at the moment
To be fair, this is the same thing that happened in the 1929 stock market crash. Lots of people were buying into stocks because they were being made cheap and affordable and had been really strong for a long time. Then a lot of average people lost a lot of money because they didn't really understand what they were getting into and didn't have the capital or connections to cover their losses. Same thing with crypto, some people bought into it early and made a lot of money. Clueless people saw this was happening and were told that it was an easy way to make some money, so people did things like put their entire savings into it and now that it's crashed, nobody really cares about them and they suffer because of their ignorance. I have several family members who got rich off bitcoin by investing early but pulled all of their money out just before the first crash because they saw the writing on the wall. Too many people put their entire livelihoods into crypto thinking that it was a good alternative to regular savings and long term safe investments. Get rich quick schemes for people who don't know how to play the game are the same as handing your money over to the house from the start.
This game is far from over bud. The difference between now and then is there will be a liquidity crisis again and crypto/blockchain is the solution. Yea stupid people made money, and stupid people lost money. But the biggest corporations are already on board and laws have been changed, it's coming.
the issue is people putting all their liquidity into one avenue. BTC is just one aspect of investment. Buy NVIDIA. Buy Amazon. But you better believe I'm buying BTC as well.
Despite there being many ways that gold can be very useful in many ways, if we only look at the value gold is given when it's jewellery, you can argue that value is not intrinsic. But, the time and labour it took to get it mined, has value. The time and labour it takes to turn it into a ring or necklace, has value. The time and labour it takes to transport and store it, has value. I struggle to find something similar to say about crypto. Edit: typo. I'm fully open to being enlightened on the subject, though.
Yes it is based on confidence, as fiat; if all customers of a specific bank go and withdraw their money, this bank would collapse (no bank has real money to give to *every* customer). The thing with cryptos is that they claim to be decentralized, but you invest in them to get dollars/euros so they *are* correlated with fiat
As someone who has invested in some different cryptos and still learning about it. The videos are realistic and extremely well explained. Thank you for educating us newbies. BTC is almost like a tease when it gets to these levels and it starts to suck in liquidity around this range but we will have to see how the market reacts to these. This is a perfect time to partake in trading as it is volatile. I've made over 9.2 BTC when I started at 1.5 BTC in just a few weeks with Ethan Lohr Analysis, his strategy is so satisfying.
Gold was value because is one of the only metals with silver that do not oxidate and exists naturaly. We use it a lot in industry to make eletronics, and crypto is used on nothing for what i heard.
Literally wasting so much energy on imaginary tokens that hold no real world value while fiat currency actually is backed up by real commodity not to mention elon literally dictates what crypto goes up solely off his tweets, idk in what world that is seen as a stable economy, and sure you're right crypto isn't created value from nothing but the amount of ridiculous power that is wasted from GPUs and electricity you expect the world to adopt to this
Lol, these people who invested their life savings into Luna should have done a little research. They would've figured out successfully traders diversify lol.
Trading Crypto is not diversifying, its just taking multiple stabs at a roulette instead of betting everything on 1 number. Is it smartER? yes. Is it smart? no, not at all.
@@profanemagic5671 well crypto backed by actual money is a good investment, id say bitcoin is a pretty safe bet in the long run, but with all these other coins you're right. Definitely a gamble, but, just like the stock market, if you do your due diligence you can turn it into a probability game. These people aren't doing that, they just hear about a coin and invest 100%. There's nothing wrong with researching a coin, thinking it's gonna pay out, and investing 2-3% of your portfolio. Due diligence, it may not have a tangible product, but I've met a few smart people who turned a few grand into a few million. They were not gambling.
![Pumping Simulator 2[Thai] #10 โรงผลิตไฟฟ้าที่บ้าน](http://i.ytimg.com/vi/LoAcCB2odio/mqdefault.jpg)
TH-cam at it's finest before playing video:
"The following content may contain suicide or self-harm topics.
Viewer discretion is advised. "
Wait, you're telling me that these high-risk investments were actually incredibly risky?
crazy
they will recover and all the kids who are like I KNEW IT I KNEW IT ITS A SCAM ITS A ... etc etc will be back to crying haha
Not investments.
@@Cbd_7ohm I bought at eth at 300 and sold at 2.5k, you sure ?
@@hector9586 You are one of the few who actually quit when they were ahead.
@@hector9586 very nice man, I had picked up a ton of MANA ages back and it blew up randomly when Facebook announced their META thing, and I suddenly was feeling much better about picking some up. Cheers on profits mate
"Sometimes people do stupid things and it ruins their life."
No punchline, no extra detail needed. A simple, truthful statement.
@@powerhouse884 Well, it's said that people on the reddit page of Luna is talking about suicide and I dont think all of them are fakes
@@powerhouse884 I'm just illustrated that there are people who are stupid and ruined their lives much like the original message said so yes, the original message was true 100%
Damn, Josh Strife Hayes did really kill Terra
okay, that shit's funny
I'm dead lmao
4:40 Gold has a fuckton of intrinsic value. It is literally used in all processers and computer chips atleast in enough quantities to shield the other metals if alloyed as electrum. Your GPU, CPU, Ram, Motherboard all have gold in it and a technological society literally cannot exist without gold as well as copper and silver (yes these are used in components as well, silver generally used in batteries, capacitors, etc and solar panels). To say gold has no intrinsic value is like saying Oil has no intrinsic value which is insane.
Depends on the situation.
Also, it has always had a use for making luxury items such as jewellery, for which there was always a demand.
@@mister8765 how is this situation dependent at all
@@TheMapleDreamer Well, if you’re dying in a desert and someone offers food/water or a lump of gold - then the demand has changed because of the situation.
@@mister8765 EVERYTHING'S Value depends on the situation. in a desert water is worth more than it is in a rainforest because of abundance.
"It's easier to fool someone,
than it is to convince them they had been fooled in the first place."
-Wayne Gretzky
-Michael Scott
Quoting people is so cringe.
@@czhaok thank you for the best woosh I’ve seen in a minute
@@czhaok Shut up. - Sun Tzu
Mark Twain actually.
"All crypto will go to their intrinsic value of zero" -me
RIP to anyone in LUNA
lol, yup.
@♜ Pinned_by_Asmongold 🤡 Look at this sad scammer no life
Gold has physical properties that make it valuable beyond any speculative value we can ascribe to it.
I also want to add that, when something's value is almost 100% speculative, then public opinion is of the utmost importance. If the consensus is that it has no value, then it has no value.
Gamer girl batherwater
>Gold has physical properties that make it valuable beyond any speculative value we can ascribe to it.
The Rothschilds set the price of gold every day.
gold isn't valuable, you been duped. there are less spaceships in weight, than gold on the planet. but weightwise, gold is worth more? explain?....
cos it's a con. it's a set price daily by the rothschilds, and they make billions/day off of fixing it's price.
it hasn't risen in line with inflation, every year gold actually gets worth less and less.
If the consensus is that gold or USD have no value, then it has no value.
You fail to grasp that this applies to literally everything.
It's economy 101. More specifically: Subjective Theory of Value.
While that's all fine and dandy the people saying gold has no intrinsic value are still correct, nothing has. It's all the same damn thing: Supply vs Demand.
Easiest example:
- starving in a desert? Gold has zero value, more dry land has zero value, water has high value.
- drowning in the sea? Gold still has zero value, now water has zero value, dry land suddenly has value.
- living a normal life in europe? Gold suddenly has value.
Gold only has value on this planet because there are enough uses for it, go back 5 million years and gold is useless. Go forward enough and the price may drop as well. Why? Because there were literally estimates that the Milky Way Galaxy alone has 100 million Earths worth of gold.
Same with diamonds, they are insanely valuable now, but there are literally planets raining diamonds.
Nothing has intrinsic value, we ascribe it to it, that's a fact.
People saying "k then give me all your gold" are just as braindead as people speculating their life savings away, because they can't handle the fact that we as humans ascribe value to things.
@@ocima_ankapa The difference between something like gold and crypto, is that gold actually has several important uses. Gold is incredibly useful to several industries. For example, gold is a highly efficient conductor, making it indispensable when it comes to all forms of electronics. Gold is also used within the aerospace industry, not just for use within electronic equipment, but also because of its excellent ability to reflect infrared light while still letting in visible light, which is why astronauts' visors has a thin layer of gold on them. And because gold is both non-allergenic and easy to work with, gold is also used within the medical field.
I could go on to list even more uses for gold, besides jewelry, but I think I've made my point. All of this means that even if we stopped using gold for jewelry and other adornments, there would still be an incredibly high demand for gold, making it valuable. Crypto, however, only has value because some people think it does.
Gold may not have value as a currency at any random moment but it's a great conductor so it will always be valuable to tech companies.
@@NorthzYT No it doesn't. Gold has value as a currency because people as a collective decided that it has value. You need to start thinking in more fundamental terms, going all the way back to bartering the good directly. Would a piece of gold allow you to survive any better than a piece of iron would? I would argue not. Food, water, clothes etc would. Any value that physical money, "precious metals" etc has is completely subjective. If gold was, say, an energy source, that would be a completely different deal, but when you have gold coins, it literally has no inherent value. Look at the post-apocalyptic fiction worlds and you'll see that people use bullets, cigarettes, heck even bottle caps as a currency. It's all about the perception, not the value.
Dominykas currency is not decided by people, it comes from the inherent value of something and how useful it is, like someone explained but is is more Thant that, and yes people in the past weren't stupid, but no currency ever was created simply because some "collective" decided it had value that's complete nonsense
@@NorthzYT LMAO dude what are you saying. Gold was made into coins because some bastards that were already rich decided to make it into coins. People have not changed whatsoever, powerful people make decisions and tell less fortunate people that something has value. Look at the world we live in today, why are iPhones so overpriced, why does designer clothes cost 10x what off brand clothes cost? Just stop and think for a minute. If there was an asteroid flying by that was rich in gold, and we harvested the gold from it, let's say 2x of what we have on Earth today. Do you think the price of gold would stay the same or devalue? I hope to god you can AT LEAST agree that it would devalue meaning that it has no intrinsic value meaning it is completely dependent on supply MEANING whoever controls the supply controls the value.
@@turdanc As the others said, Gold, like most minerals, has value for its inherent material properties. You are absolutely right in saying that value is a social construct (as are pretty much all aspects of social life), but this social construction of value often stems from practical uses. Also, it has value because of the capital, time and labor required to extract it.
In your examples, you cite bullets and cigarettes, both of which have practical uses; bullets can be shot, cigarettes smoked (very useful if you're addicted and no one can produce them anymore). As for bottle caps, they seem like a good contender for currency as they are widely distributed.
Gold's usefulness doesn't define its value, that's a fallacious association. Value is not given by use, but by supply and demand, and demand is too subjective to give an objective value, intrinsic value would mean everything would be priced the same in accordance to wealth, that would mean it would never become impossible for an average person to buy bread at the store, but there are plenty of socialist and communist countries that demonstrate the exact opposite of that.
Never put in more than you’re willing to lose. People losing their life savings to any of this are incredibly dense.
They're coping so hard, some take huge loans and shit. Could be say this is as worse as gambling addiction lmao
It's called justice being made. Play stupid games, win stupid prizes.
With minimal knowledge regarding cryptocurrency, I'll play devil's advocate and say that allocating high concentration of one's net worth to high risk investments isn't the worst plan, but whether if the asset class yields a high reward is another different argument.
@@theplaylistpsycho putting in more than you can afford to lose with poor knowledge of the financial sector is about as idiotic as one can get.
These people must be sick in their mind instead of investing a few hundred dollars and then take investment out if they have profit and reinvest that profit they just go all in thinking its gonna make them millions,they deserve to have no money at all cause its stupid people that give money no value
I'm so glad you exist man, I've been watching your vids on the daily for a few months now. Thank you.
Bitcoin, hustle culture, and NFTs make me sick. I absolutely despise people that think these are great ideas and should exist at all.
gold is highly conductive and regularly used in integrated circuitry manufacturing
As someone who works in integrated circuitry manufacturing I agree with this statement.
Gold/Silver's industrial use make up less than 20% of their investment value. It is a part of it though.
If we could plate and make everything out of gold and silver we would.
Gold's usefulness doesn't define its value, that's a fallacious association. Value is not given by use, but by supply and demand, and demand is too subjective to give an objective value, intrinsic value would mean everything would be priced the same in accordance to wealth, that would mean it would never become impossible for an average person to buy bread at the store, but there are plenty of socialist and communist countries that demonstrate the exact opposite of that.
Yes less than 1% of it :)
I love how frank your opinions are, I laughed so hard when discussing gold's intrinsic value 😂
The WoW token is a crypto stablecoin pegged to one month sub fee. Mineable through in-game player activities or bought with fiat. Can be traded for a another token on the WoW chain, gold. Spend on in-game player items attached with it's owe visual image or NFT. Only thing missing is the ability to exchange the token back into its peg value of fiat for profit.
TIL the WoW token has more utility then most crypto coins.
what are you talking about OP, there's got to be a black market for WoW tokens _somewhere_ .
the wow token is centralised. bitcoin is decentralised thats the value of bitcoin
@@aladdin8372 there is no value of bitcoin.... haven't you figured that out yet. It's not real.
@@corymccarron7587 Actually its value is $28,810, as of this moment.
What you mean is that there's no intrinsic value. Pretending there's no value whatsoever is just denying reality, speaking as someone who has never and will never buy into crypto because of the instability.
This is Crypto, people will forget about it faster than you think. New people entering the market wanna make money fast and often have no clue and look for cheap coins thinking they have a high potential of going up. If Luna survives I am sure it will attract new people again
Luna is dead
Nope, there will be regulations and delisting. The government wants everyone to support their coin.
@@DozleZabi Yes it is. Also the founder is like the Elizabeth Holmes of crypto.
100,000 wallets own a majority of crypto. Its more centralized than any fiat by a long shot. Buterin made note of this in his white paper published at NYU.
Crypto has benefitted from the QE/FED 'ZIRP' and now that inflation has scard the FED into raising IR and QT, Crypto fell. Which means, Crypto is the same as stocks, and isn't a hedge against the market (like physical gold).
We'll see in the coming 48 hours. I don't even care if it goes to zero since I have no money in it, but there are to many people with extreme losses that keep buying to DCA in hope it will survive and in some years make them money again.
Made 400 usd in 1 hour longing it. Welcome to trading.
4:35 yes, that's why gold and silver have also been going down
you know all blue chip stocks and fortune 500 companies are going down too, right? this is normal for spring
Crypto: "It's not a pyramid scheme. It's a reverse funnel system".
> Always Sunny' Intro~
gold has SOME intrinsic value. it is inert, so it doesn't rust. useful in science and engineering. BUT it is OVERPRICED because it's " oooo SHINY". maybe that was what the person in chat is saying.
If he said Oil it would have been better.
Gold is a finite resource on earth. You cannot replicate it, make it. There's no alchemy for creating it. That is the point why it's the whole basis of world economy. At any given time, there's a value for gold, let it be 17K per an ounce or whatever, it always has value because it's required for real life inventions and solutions which is the best "cheapest" conducting minerals on earth. Everything related to electricity, has something to do with gold, copper, silver, platinum, silicon.
@@Zombade80 most cryptocurrencies are also finite. BTC is.
@@Zombade80 I hate to break it to you Sherlock, but the dollar is no longer backed by gold and has not been for a very long time.
Edit: AKA it definitely is no longer the basis for the world economy.
@@ocima_ankapa gold is physical. It’s value is tangible. Even paper money is more valuable than what amounts to online data for this very fact.
The problem with crypto is it’s unreliable and frankly still not that necessary in today’s society.
It always makes me laugh when an NFT/Crypto shill says gold or silver don't have intrinsic values. We are talking about real world objects here, not bits in a file, in RAM or in a database.
That's stupid lmao
NFTs and Stablecoins should be backed by Gold imo to give them real life value and security
lmao at all the upset Crypto bros in the comments 🤣
It's hilarious. The truth hurts.
@@phase_1471 Big facts, they all huffing that copium
I luckily stopped but I did make a lot of money through crypto last year it's going to have it's hard times but I definitely think it's paving a way for the future no doubt money will become digital at some point.
Come back 1 year from now to this comment
@@GodEmperor_How is crypto now?
Gold has been in high demand by pretty much every culture for 10,000 years, at this point gold's intrinsic value is that it's gold.
gold is valuble because its actually used to make shit n not just jewelry
@@garymcjerry you can't put bitcoins in your teeth haha
@@sora3mo168 if you shine a laser at a gold particle it creates antimatter
@@u_ub ohhhh sexy!
@@sora3mo168 Not really, there is almost a better version for any solution that gold can provide.
Bennett Tomlin sounds like he's perpetually holding in a big toke from the fattest blunt
Nice to see Asmongold understand what has real value and what doesn't.
Asmongold should do a reaction video on videos where scammers scam the scammers.
Gold has intrinsic value because it can be used for something. Basically the sole use in aerospace,electronics and decoration gives it a value
I can't even speak.
This is so beautiful, I feel like that song is playing when the clouds part and a ray of light comes down.
27:30 I love the slogan of the Luna's reddit - Set Money Free :D
Glad to see Asmongold watched Coffeezilla’s video. His content is growing pretty well.
Crypto is all about getting in early and getting out at the right time before it goes to 0, same for nfts.
Sounds like Poker. Remember when Poker was really big and some Pro played at 10 tables at the same time etc bc they could farm the new people, get this noob money. But after some time nobody new came and it’s just pros vs pros and it got way less money etc. And yeah Poker is Still big but no way near as it’s peak.
So it’s the same with everything, go in early and make money with it.
how could you be so stupid to think it will go to zero, lmfao
I'd exclude Bitcoin from that statement.
DCA in. DCA out. Rinse and repeat.
Sounds like a ponzi scheme to me
There Is a exelent parody of big boss ( Venom) talking with kaz about nft in metal gear style ,is awesome
Everything has always exactly the value somebody is prepared to pay for it.
Not a cent more, not a cent less.
asmon doesn't know the difference between NFT and Crypto's..
Both are useless
@@ActNasty5 yeah but this video is about a crypto coin crashing and first thing he says is NFTs are a scam!!! He’s an intelligent dude but doesn’t know shit about crypto
@@SawsePapi nfts are a scam
@@DevilSaturn966 Yeah im not disputing thjat
He is filthy rich and doesnt bet on these risky investments period
He is smart
Gold has a value since it´s a good conductor and used in many tech. BUT if newer materials is inovated then that value could go away. But untill then, gold has value like platinum.
Look at the USD when it first came out. I agree never to invest any money you aren't willing to lose completely.
When something sounds too good to be true, it is.
it's not $0.01 now, it's plunging even further at $0.0005. XD
i have told everybody at the beginning. Whoever sell their crypto first wins the game. They made everybody buy buy buy, jack up the value. When they get the desired value, those who hold A LOT start cashing in. As more coins being dumped, the value plunge, leaving those who are still holding with worthless "coins".
Almost like some form of regulation creates stable markets, people are just walking into a scam for free.
If you genuinely think you've found a get rich quick scheme, you need to understand that you will never get rich, you're just helping the guy who told you get rich.
Some people really made big money in crypto but they invested a few hundred dollars took their investment out and continued playing with profit,many invested their life saving and now are crying cause that money is gone forever they dont understand you have to invest only what you can afford to lose
🤣 "no really! We can reinvent economics! It'll work this time!"
Every single time 🤣
I think warren buffet said something like “I wanna be fearful when everyone is greedy and I wanna be greedy when everyone is fearful.”
At time of posting, Luna is down 97% in one day to 3 cents.
LOL did anyone else get a warning about suicide for watching the video?
Didn’t P.T. Barnum say there’s a sucker born every minute. Seems about right to me.
In Final Fantasy XIV you have tue common currency gil but also storm seals, which are payment for goods&services to buy gear, so you are getting something tangible and of value in exchange for providing something tangible and of value (in-game that is, obviously). In the other hand, if you have a "coin" backed by rates in casino dealings or whether the wind will blow South, you're playing with fire.
What’s the best way to make money from crypto trading
I don't trade, I invest with a professional assigned by a crypto company that trades for us and returns profits on weekly basis for me and you can invest your capital and get weekly Returns of investment (ROI) without any extra fees attached
She is Ms Caroline Wulff
I think the best way is to invest with a professional, at least it saves the trauma of too much losses
This just surprised me, I also invest with Ms Caroline Wulff
Wow! I made a lot of money last year trading with Caroline Wulff
Damn...She's really a professional with her new strategies
Seeing this pretend value stuff fail, having never been involved, makes me feel as though I'm not so stupid after all. Reality comes at you fast. Regarding Gold's value, Crypto currency and nfts can't act as a high level conductor to power the computer you use for them.
gold should only be bought when the economy is doing great since the price falls due to the gold bugs feeling depressed. gold should be sold when the economy is doing bad because the gold bugs are buying gold to hoard. in the apoc gold will not be valuable, copper, brass lead will be along with money since you can wipe your butt with it. you cannot get nourishment from gold and gold is not really useable as bullets.
Nothing has intrinsic value, the attempts to assign value to gold are fallacious, value is an agreed upon concept based around supply and demand, that's why value fluctuates, its subjective to those in the demand and in accordance to current supply. Demand is inherently subjective. Nothing has objective value and by result can't have intrinsic value.
@@Spartan322 How profound. What metals are your phone made out of?
@@bradensmith8682 That's a deflection, its irrelevant and I don't have a phone so unobtainum.
Usefulness doesn't define value, how much bread does it take to buy a phone? Ignore the currency, how do you evaluate the value of bread to phones without a currency? Can you give me an answer in the amount of bread I must always expect to pay for a single phone? Would that apply in a thousand years? How about in a million years? How about a hundred years ago? A thousand years ago? Or how about we boil it down to gold, how do you evaluate the value of something without money? How much gold must I spend to get a phone, not the resources of gold, but how much gold would I need to buy a phone a thousand years into the future? Or better question, how many phones would it take to buy a painting? According to your proposition all paintings must be of equal value in accordance to their materials and usefulness, so tell me how much it should cost for a common painting to be bought by a phone in three hundred years?
@@Spartan322 This conversation has "no intrinsic value".
Whenever I think about crypto and NFT's I think about the South Park episode where the aliens come and present humans with "Space Cash"
I think this is the whole point, its not really magic money its who's first and who's second. If your first your going get the second guys money and if your second...well you just went broke.
Same old story of the rich getting richer and the poor getting poorer.
More like a fool and his money will inevitably part ways!
buy in when it dips you'll get rich too, fear uncertainty doubt (FUD) is why people LOSE MONEY
the housing market crashed like this in the 90s but people who had money to buy up and invest DID so now they are the millionaires people cry about.
Also stop voting for the Blue party if you wanna be rich, only people who hate themselves vote democrat.
I love seeing everyone freak out, saying Doge is going to the moon, then looking at Robinhood and seeing it’s still only at $.12-$.15. Shit was at $.71 at one point and now it’s a giant win if it even hits $.16😂😂😂
thing is doge coin was selling for 0.0012 cents at one point now its at 0.12 its 100x so if u put 1 dollar in at 0.0012 and then take it out at 0.12 now u have 100 dollars not too bad eh?
but it was at less than a cent before people just dont get it buy when low sell hight you buy when it no one is talking about it and sell when they do. right now is a good time to buy for rxample bit coin and sell it when it goes up and people start talking about investing in it ect.
@@RazorRoses so what about the people that bought when it was at $.50😂😂
@@marlonyo “buy low sell high” only works when the coin is going up. There’s no way to tell what’s going to happen to Doge because it turns out it’s just a shitcoin like all the rest. You’re only thinking of the people that got lucky, you’re not counting in all of the people that bought before it took a giant dip. And there’s no way to tell when it’s going to go up or down. Elon said it was “Literally going to the moon” and right now it’s not even worth talking about.
@@TylerG13 they didn't do research hopfully they learn or simply quit crypto doge has nothing to offer
Coffee has been on to all this for a long time to be fair, the man has been calling out these coin scams for ages
I just realized that Crypto and MMO has the same death spiral. The more people exiting, the more people exiting
Gold has intrinsic value because you can use the material itself as a resource. Gold has uses that are tangible in modern society. Gold plating for cables, some isotopes of gold are used in the medical and chemical field because they're useful in treating certain illnesses and preparing certain chemical solutions. Of course there's also the extrinsic value of gold as a status symbol like jewelry and stuff like that.
Digital assets on the other hand derive 100% of their value from the context in which they are used, aka they have no intrinsic value.
So yeah, that dude in chat should give me all of his gold and invest 100% of his life savings in Luna Coin. Let's go Lunatics to the moooooooon!!!!!
Yea, i mean literally all digital assets are like that. NFTs, the technology behind it i mean, is really world changing though
Ohhh they're so mad
Best evil laugh intro ever
The guy looks like such a friendly, jolly guy lol
All the people saying "buy now, its best time for crypto" are so on copium bruhh
NGMI
It is tho?
@@Boschx well considering that it's made up of the audience from last year that followed elons ideas of "buy doge" and "buy Shiba" yeah ofc. These people are so into this that they legit are willing to give a paycheck for the promise of "it will go up some day" but they have been saying that for the last 5 months
@@RealViktoa Shiba and Doge ARE pure speculative trash! Theres plenty others that aren't and have real life uses right NOW. But hey! lets laugh at people for trying to make money I guess, right?
to be fair.. recently stocks have been only slightly better option than the cypto crap.. did people forget Gamestop?
I think ETH has more in common with other crypto's as opposed to BTC.
People like to use term that the money "vanishes" on these selloffs. But people just remove their money from it so its rather *transfer* outside of crypto/market/whatever.
Crypto at the beginning was sold as the safest and most protected money transaction that would not fail to hackers or governments but this is precisely what has happened.
Focus has all been on the crypto itself, not the wallets and method(s) of exchange.
The thing is, the underlying cryptography in cryptocurrencies is really interesting, and it's got a lot of potential uses as a ledger for work being done. Likewise, the concept of decentralised currency is also great because it takes power away from the banks... However, jamming these two together and creating a market of 'trust me bro it's worth something' is plain irresponsible. None of it is stable, and there's the same issue of people with more money influencing the value of your investments. Literally nothing has improved, and it's 5x more volatile.
Honestly you could have just said crypto is like people trying to use Rubberbands as currency, sure you can use it for ledgers or to buy stuff at places who turn rubberbands into real currency lol.
To me crypto is a bunch of people just trying to make a new money system, HOPE enough people invest for it to actually be worth something. But again relies on dumb people investing
Yeah I think most people don't know the relationship between blockchain and cryptocurrencies. The ledger technology, blockchain, has and will still be used independent of cryptocurrency success. Blockchain technology itself is fine and very helpful for many industries, crypto, well that's debatable.
@@seansanchez3703 Name me some examples instead of helpful for "many industries" like what exactly. I have never seen any useful real life solution from it.
>decentralised currency is also great
HAHAHAHAA tell me you love getting scammed without telling me. HAHHAHAAAA. North korea and china have stolen 99% of decentralised cryptos, cos there's zero protection.
hahahahhahaaaaaaaa don't ever touch stocks, a business, or crypto.
@@TurboGroszek1 Sure thing lad, to be clear I'm not talking about anything here cryptocurrency related. To start, supply chain which is a billion dollar industry, navigates the connection between companies and suppliers. IBM is a premiere example that utilizes the blockchains ledger system to help navigate this. Walmart I believe also utilizes it for backend supply logistics. next, any type of records such as ID. Korea is currently testing utilizing blockchain identification. But this could also extend to something like medical records or financial information. The main draw to using blockchain for this is security. The information is not just stored on 1 computer, there is not enough computational power currently to "hack the blockchain". Anyways these are just a few, without being any more long winded than I already have I hope this helps. Important to also note these are really "techy" backend things your average joe will not interact with, crypto was just the first public "use case".
Looks like Endwalker is gonna be the only one going to the moon KEKW
4:48 - Spinoza time, here it is ! Something has a value because we believe in it :D
If only anyone had predicted this
If only
I got a "This video may cause suicide warning" and had to click allow to watch it. Yikes. That's not good.
music to my ear
Skyrim theme song fits intro so damn well that it is a damn masterpiece
The last time crypto dropped like this, ppl thought it was over and made videos just like this, its so funny how the same thing can happen over and over and the public’s reaction doesnt change or learn, the ppl that made gains during the latest pump, invested the last time crypto “crashed”, bull markets dont last forever and neither do bear markets
People are reactionary idiots, inside and outside of crypto.
They just don't understand market cycles
@@marcakira_ Yup what goes up will come down and vice versa
This is some desperation lol
Lmao tell me again how the fourth largest coin being less than 1% of it's value from a couple days ago is part of the normal market cycle
I think people are figuring out the difference between Bitcoin and every other crypto VERY quickly
Bitcoin is also down. Great time to buy more.
Isnt bitcoin down below 27k right now not sure just wondering
@@otrxking9660 BTC has "died" so many times. This is just another great time to invest. Never put all your eggs in one basket and investing in things like NVIDIA and Amazon as well right now are very good moves, but BTC will absolutely not die from this.
@@deskmanatee You are just as wrong as everyone who put their trust in Bernie Madoff was. This is a SCAM.
Good thing I didn't put much money in LUNA and instead put it in bitcoin instead
i just woke up to this, it's gon be a good day boys
I wonder if Asmon owns some gold and silver, the way he speaks about it makes me think he does. Good for him
I think Bitcoin will always have value. Buying the dip. Either way I understand it's a risky investment but seems safer than all the alt and stable coins tbt.
It feels safer than USD at the moment, USD is crashing for years.
BTC has up and downs. Not only downs. And it still is more valuable than USD.
i did Heroine for 3 years and i m totally fine now, investing your only savings in shitcoin seems to be much dumber imo :P That ruins lifes most (short time) drug expeditions don t
Edit: And i was having fun, they just lost without having anything lmao
That dude in the red shirt crypto-expert looks like he lives in a trailer. O_o
The Music stops.... but wait; there are not enough chairs for everyone.
Gold does have intrinsic value though. As a material it has industrial uses and it's rare. As a material for jewelry and watches it is non corrosive and gentle on skin. There are actual reasons to want to obtain gold for practical purposes.
@@greenfroggood2392 it's good for electronics too
@@greenfroggood2392 jewelry can br practical. Watches are jewelry. Also silver has antimicrobial properties, so something like a silver cup is very practical for hygienic drinking. Even diamonds have practical use. They aren't just valuable because someone said so.
News flash gold is literally down from 10 years ago
@@sleepisthecousinofdeath7395 what isn't down from 10 years ago?
@@Makingnewnamesisdumb bitcoin.
I don't know a thing about Luna, but I'm sure bitcoin will recover just like the whole entirety of the stock market. World is on the gutter at the moment
"Currency hack," lol.
15 seconds in and he already made me laugh off of my chair.
To be fair, this is the same thing that happened in the 1929 stock market crash. Lots of people were buying into stocks because they were being made cheap and affordable and had been really strong for a long time. Then a lot of average people lost a lot of money because they didn't really understand what they were getting into and didn't have the capital or connections to cover their losses. Same thing with crypto, some people bought into it early and made a lot of money. Clueless people saw this was happening and were told that it was an easy way to make some money, so people did things like put their entire savings into it and now that it's crashed, nobody really cares about them and they suffer because of their ignorance. I have several family members who got rich off bitcoin by investing early but pulled all of their money out just before the first crash because they saw the writing on the wall. Too many people put their entire livelihoods into crypto thinking that it was a good alternative to regular savings and long term safe investments. Get rich quick schemes for people who don't know how to play the game are the same as handing your money over to the house from the start.
And history continues to repeat itself but this time it wears a different hat.
This game is far from over bud. The difference between now and then is there will be a liquidity crisis again and crypto/blockchain is the solution.
Yea stupid people made money, and stupid people lost money. But the biggest corporations are already on board and laws have been changed, it's coming.
You do realise BTC is still up 2x from 12 months ago right?
the issue is people putting all their liquidity into one avenue. BTC is just one aspect of investment. Buy NVIDIA. Buy Amazon. But you better believe I'm buying BTC as well.
This, i hate those people say bitcoin = bad, lol bitcoin is more stable with higher returns than huge majority of shitty stock market🤣
meme market crashed what a surprise
Love the conclusion
Why did youtube give me a warning before allowing me to watch the video? 🤣
What have you done this time, Asmon? 🤣
A child has a better chance betting on black in roulette instead of investing in this thing
Despite there being many ways that gold can be very useful in many ways, if we only look at the value gold is given when it's jewellery, you can argue that value is not intrinsic.
But, the time and labour it took to get it mined, has value. The time and labour it takes to turn it into a ring or necklace, has value. The time and labour it takes to transport and store it, has value.
I struggle to find something similar to say about crypto.
Edit: typo.
I'm fully open to being enlightened on the subject, though.
Yes it is based on confidence, as fiat; if all customers of a specific bank go and withdraw their money, this bank would collapse (no bank has real money to give to *every* customer). The thing with cryptos is that they claim to be decentralized, but you invest in them to get dollars/euros so they *are* correlated with fiat
Looks like a lot of people skipped over the Black Thursday market crash of 1929 in History Class
As someone who has invested in some different cryptos and still learning about it. The videos are realistic and extremely well explained. Thank you for educating us newbies. BTC is almost like a tease when it gets to these levels and it starts to suck in liquidity around this range but we will have to see how the market reacts to these. This is a perfect time to partake in trading as it is volatile. I've made over 9.2 BTC when I started at 1.5 BTC in just a few weeks with Ethan Lohr Analysis, his strategy is so satisfying.
His strategy has been helping a lot of traders/newbies out there, with his program i was able to recover my losses from the crash so swiftly.
wat a coincidence, I invest with Ethan and it was quite a good deal for me too..
Amazing, how to reach HIM?.. Just asking.
👆That's his hAndLe. get more info from him
If the goal is good profit with no risk, then Ethan Lohr is the man. Having made over 6 BTC some weeks ago, I am confident about his strategy.
“Don’t sell guys, buy the dip! Trust me!” -Elon Musk, probably?
the economy will recover. people who don't understand what's going on right now are just projecting their LOLz
Pfft bitcoin is for stuges dogecoin hodle boiz
Elon Musk didn't tell anyone to buy crypto. You should go work for CNN, they'll love you there.
@@Miranox2 Elon never said it directly but he knows his followers will buy whatever he talks about
Literally everything is on discount if you don’t invest something by the time it goes back up 🤷🏽♂️ oh well
gold has utility in electronics and space applications, james webb telescope mirror uses gold, its not just perception of value
One doesn’t experience self transcendence, the illusion of self only dissipates. .🎈
Gold was value because is one of the only metals with silver that do not oxidate and exists naturaly. We use it a lot in industry to make eletronics, and crypto is used on nothing for what i heard.
I use crypto to buy gold?
Pyramid scheme
so should i sell my bitcoin stuff or hold?
8% 10% may be good, 20% was too much.
"You can't create value from nothing"...meanwhile fiat currency exists.
Hey buddy, the dollar was attached to the gold standard during the Great Depression..
Literally wasting so much energy on imaginary tokens that hold no real world value while fiat currency actually is backed up by real commodity not to mention elon literally dictates what crypto goes up solely off his tweets, idk in what world that is seen as a stable economy, and sure you're right crypto isn't created value from nothing but the amount of ridiculous power that is wasted from GPUs and electricity you expect the world to adopt to this
Lol, these people who invested their life savings into Luna should have done a little research. They would've figured out successfully traders diversify lol.
Yeh people gotta realise that Warren Buffet invests and sits and waits
Trading Crypto is not diversifying, its just taking multiple stabs at a roulette instead of betting everything on 1 number.
Is it smartER? yes.
Is it smart? no, not at all.
@@profanemagic5671 well crypto backed by actual money is a good investment, id say bitcoin is a pretty safe bet in the long run, but with all these other coins you're right. Definitely a gamble, but, just like the stock market, if you do your due diligence you can turn it into a probability game. These people aren't doing that, they just hear about a coin and invest 100%.
There's nothing wrong with researching a coin, thinking it's gonna pay out, and investing 2-3% of your portfolio.
Due diligence, it may not have a tangible product, but I've met a few smart people who turned a few grand into a few million. They were not gambling.
Why am I getting a suicide/self harm warning? Lmao
Who could have guessed imaginary currency would be volatile? Oof