On this channel, we're almost Ethereum maximalists. We believe the potential for it is so big. But there's still a contingent of people
that are what we call "maximalish". They love Bitcoin, and they think that in the end, it is going to win by a long shot. While Ethereum and might have potential,
they think it has not been fully realized yet. Today, we're joined by YouTubers
from the Altcoin Daily channel where we're gonna discuss, over the long term,
can Bitcoin crush Ethereum? We're also gonna be talking about their personal
exit strategies for this bull market. You're definitely going to want to listen to it. They're the biggest YouTube channel in town. Let's get it! BitSwap is the hottest new way to trade tokens. Crawling all the top decentralized exchanges, BitSwap gets you the very best price and value for your trades. BitSwap is changing the game. Try it now at bitswapdex.io. Hey, guys! I'm joined with Austin and Aaron
from Altcoin Daily.
Guys, probably as of this moment right now,
you become the most subscribed cryptocurrency channel. Really proud of you, guys. You guys came out of nowhere. I'm just kidding. You've been crushing it forever. How does it feel, you know, to see
your channel grow so much? First of all, thank you, Ben, for having us on.
Big fans of your channel as well. You know, it's a combination of I feel really
lucky to be in such an emerging space, you know, much like the internet back in the day, or just be able to talk and bring on guests with a great perspective and kind of,
kind of, you know, wade through these waters, you know,
together with quality people, but it's just, you know, it's exciting
to be making content.
Yeah, I've always thought if Bitcoin is for everybody, if cryptocurrency truly is the greatest
wealth transfer of our lifetime, an average person like me can figure it out, and, you know, most of the world
is just average people, surely they can, you know, subscribe to either
one of us and, you know, learn along with us. So to be here at the beginning of the bull market with possibly the top crypto channel
in the space at the moment, it feels good. I know BitBoy's probably about to
pass us in a couple months, but hey! Game on, you know.
This is an exciting time. Yeah, and we've– You know, just to give our audience some context,
we've known each other for a long time, and we've supported each other's channels
and, you know, it's definitely great that you know, finally I'm up there, you know,
approaching where you guys are at, but definitely been a fan of your channel and one thing you guys are known for– probably the No. 1 thing you guys are known for
is being called Altcoin Daily, but really almost being Bitcoin maximalists. We'll call you a Bitcoin maximalish, okay? I want to talk about the long term– your long-term opinion of Bitcoin versus Ethereum because I know that, you know, you guys don't think
Ethereum is a solid of a pick over the long term as I do.
I'm projecting, in two bull runs from now,
I think it'll still, you know, be at the top. You're saying you may not think that's true. You guys are, you know, reflecting
Bitcoin content on your channel mostly. What are your overall thoughts? What are both of your thoughts on Ethereum
over the long term versus Bitcoin? Generally, and first off, I own Ethereum, and I'm rooting for Ethereum even though the majority of my portfolio is in Bitcoin. But generally, I would consider myself
a Bitcoin fundamentalist, or another way to say that,
a monetary Bitcoin maximalist, meaning when it comes to the store of value,
the money, use case for cryptocurrency, I believe the free market is choosing Bitcoin all day
as opposed to Nano or some other altcoins because Bitcoin is the most censorship-resistant. It's the most decentralized. Now, that being said, I am rooting for a smart
contract dApp platform in the space, and I do believe Ethereum, it will outperform Bitcoin,
at least for the next 12 to 18 months.
And we really have Ethereum being locked up for
the next maybe three years with Ethereum 2.0. So it could do very well. But I can just say for me personally,
I'm more of a conservative investor, and I'm not sure which dApp platform
will make it in the end, so where I choose to park my money is into Bitcoin
and then smaller amounts into Ethereum. – Aaron?
– Damn. That was well said. I would just say, I mean, I don't think
it's too crazy to say at this time, if we're thinking long term, Bitcoin is the most asymmetrical
opportunity with the least risk just because it's such a hardened network
at this point that doesn't like to change, while Ethereum is going through a major change.
Now, I think actually after assuming
everything goes well with Ethereum, if ETH 2.0 gets off without a hitch, I actually think that could be really bullish because then maybe like bigger money
institutions would feel more comfortable if the network is a little bit more hardened, but at this point in time, you know, how could you bet against Bitcoin
long term because it's working today, just like it's going to work in
maybe 5 years, 10 years. And it's really all about perception at this point. Just like in 1995, a lot of people didn't think the internet
would be a part of their lives in the future.
Cut to 10 years later, in 2005, everybody was
sure of it, and I think it's just a perception shift. People have to understand
what Bitcoin is to realize that. Yeah. I think that, you know, you guys, you know,
I know that at least Austin said he holds Ethereum. – How about you, Aaron? You hold Ethereum?
– Hell, dude, I'm actually bullish on Ethereum. And it wasn't for a while. When we– When we had our interview back in the bear market,
I wasn't and, you know, you ended up getting right. I think. You know, nobody knows the future, but I'm actually bullish on Ethereum
for a lot of non "fundamental" reasons. I mean, just the fact it's a nascent space, I mean, first of all, something we didn't know
a year ago when we interviewed, we didn't know that PayPal would be listing Ethereum.
PayPal has 360 million users and growing every quarter. I mean, there's not enough Litecoin,
Ethereum, Zcash and Bitcoin for each PayPal user to own one full coin, so the amount of demand that
could happen from that is huge. We didn't know that Raoul Pal, one of the most well-respected investors, – would be promoting Ethereum hardcore.
– Yeah. You know, we didn't know– I mean, just the narrative shift
we're seeing happen with Ethereum, I think it's only going to grow because
the Winklevoss and Raoul Pal, they're going to make it happen.
All the cryptocurrency exchanges are gonna
make it happen, so I'm bullish on Ethereum. Hey, but it's no Bitcoin, you know? Yeah. Well, I mean, I can understand
the perspective of– I mean, you know, the way that I view
blockchain is very similar to the way– or in the cryptocurrency markets, I mean,
they go hand in hand obviously. The only difference is, you know, blockchain can also be private
and not necessarily public, but when it comes to, you know, the future
of the cryptocurrency market as a whole, the way I see it is, you know,
there's just different niches, and we're gonna have winners in each niche. You know, like, Bitcoin, store of value winner. I mean, that's hands down. When you start looking at the smart
contract space, and you say, okay, well, obviously, Ethereum, DOT and Cardano
are well-positioned one of them to win, if not all three of them win together. But, yeah, there is some competition there, whereas– I mean, I don't think Bitcoin really has any competition.
Except– how about this? Right now, okay, and this is kind of not really competition, but it's a nice segue into, you know, asking about,
you know, the institutional run on Bitcoin, right? We know Grayscale, MicroStrategy, PayPal,
I talk about this all the time, Square buying up 210% which works out to
about 1900 Bitcoin per day on average because there's been 900 made per day. They're buying up 210% of the daily minted supply. You have more companies coming in. We looked at one today on the channel or recently. I can't remember what it was called, but
another NASDAQ-backed company jumping in. So many of these– Bitcoin has become a store of value really in my opinion because people don't want to get rid of it. And that's what appeals to these larger institutional investors. The scarcity and the rarity of Bitcoin, right?
Is its No. 1 thing it's got going for it.
I mean, well, security of the network
because of the size of network obviously, and then the scarcity and rarity. Ethereum is not quite as scarce as Bitcoin. Five– about six times as scarce, or less scarce, if you will,
with 114 million total supply or circulating supply. A lot of people are saying that now people are starting to realize, institutions are starting to realize
they missed out on Bitcoin. Okay? We've seen that narrative change for Bitcoin
for it to become a store of value. Could you see Ethereum possibly
achieving the same thing? If everybody misses out on Bitcoin,
there's just not enough Bitcoin to go around.
The price goes through the roof. These institutions start turning towards Ethereum. Could you see maybe the goal of Ethereum, the narrative of it kind of changing
the same way we've seen Bitcoin's? Does that makes sense? Changing into what? Store of value? Yeah. Yeah. Because if institutions
start piling into it, they're also not going to be selling, kind of like these institutions
aren't going to be selling Bitcoin. Just an interesting thought that I had
while you guys were talking that we've talked about a little bit on channel.
I'd like to get your perspective on it. I think whether it pans out or not, the Etherians are definitely
trying to drive that home, – that Ethereum is a store of value as well.
– Am I that? An Etherian? I don't know. The only person I've ever heard of– Usually they
just call you like [__]coiners or something, but the only person I heard– – No, I just– Tyler– You know,
– I heard that too. Yeah. Coming from the bear market to the bull market,
now everybody's a little bit more positive, so.
But like I've only heard like Tyler Winklevoss call.
He's like, "I'm a proud Etherian," – and I was like, "Oh, that's–"
– Where'd you get that from? I know that– I watched the same interview,
and I said the same thing. I was like, "Etherian?" At first, I thought he said "Ethereums",
and I was like, "Wait, what did he say?" "Etherian" Okay. Okay, I get it. Yeah. So I mean, like he's really trying
to push the Ethereum thing but– Dude, I think people's– Like, I see what you're talking about, because I think people's– Just– their– It's human nature to try and diversify
and try and find the next thing.
Even like Mr. Wonderful,
who started out in the bear market going, – "Hey, Pomp, all these altcoins are shit."
– I know. "Crypto shit." And now Mr. Wonderful is kind of
like more of a Bitcoin bull, but even in his like most recent interview
with Pomp, he said, "It doesn't make sense to me
that there's only one pump. People aren't going to like that.
There needs to be more than one." So, I mean, I think what you're saying
could be a strong trend. Now, whether in the far future,
Ethereum turns into a store of value, it's obviously too early to say at this point, but I think we better– I mean, this is something I've been trying
to like drill on my channel for a long time. We can see the narrative shifting. The people who are for Ethereum
are changing the narrative so much so that, you know, the Bitcoin maximalists
have either gone a little bit quieter or maybe like a macro investor of land, all the industries said, even though I don't really
understand Ethereum, I'm not invested in it, I could see, you know, a 10%, 20% allocation – because it might outperform Bitcoin.
So the narrative is changing. And I would say that– Is– Will– If Ethereum succeeds,
and we'll know way more after Ethereum 2.0, and it's definitely, you can see
the development happening. You can see the total value locked in DeFi, so you can see it doing really well right now, but in terms of will it succeed
as a store of value, I would say that will it be a way to transfer value
on a global computer around the world? Will that happen? Yes, if it succeeds. And will that be somewhat of a store value? Yes, absolutely. Now, will it be the hardest money available? Well, even if they do Ethereum
Improvement Proposal 1559, or, you know, all these different things, when we watch the– – It's 1559, right?
– It is.
1559. That's what I say. – You say 1559.
– Yeah, exactly. – I like to elongate but–
– You'd– – Just the fact that they're doing that proposal
shows us it's not as hard as Bitcoin.
– Right. Right. Exactly. So, you know, it's more experimental
in a– you know, the development, it's absolutely not based on Vitalik. Maybe how it was, you know, 3, 4 years ago,
but it's not as– actually maybe I'll take that back because
there's a lot of development happening on Ethereum, and I don't have the recent stats, but from, you know,
it will be a way to transfer value, but in terms of will it be
harder money than Bitcoin, right now, I don't see it. Yeah, I mean, I don't think there's an argument
that Ethereum is harder money than Bitcoin. The argument is that, you know, Ethereum
can really have two purposes, you know? I mean, Ethereum is a network, and then that
people build on and can change the internet, and then also I think there's a narrative
as you're saying, like, I don't know know maybe I'm leading the narrative because I'm talking about it a lot, you know? That it's– There's an aspect of Ethereum
as a coin that is becoming a store of value, and, you know, if we're saying
that Bitcoin is gonna run up because all these institutions
are putting money in, the bear market will not be as bad or that, you know,
we won't have a bear market, you know, there'll be a supercycle which we talked about
a little bit on my interview on your channel.
You guys make sure to go to Altcoin Daily,
subscribe and watch that video as well. But, you know, we're seeing all this stuff, but yet we're gonna have an
institutional run on Ethereum, but they're not going to do the same thing. And the more that these institutions
pour into Ethereum, the more that it also will become a store of value, you know, and things like that, so I think that it's gonna have a dual purpose and, you know, we're gonna see something different
than we've seen with Bitcoin, Bitcoin as a store value. That's what it is. Like, it doesn't– It can serve as currency
the same way that gold can serve as currency.
Like, I can say, like, "Hey, that's a nice Miata.
Will you let me, you know, buy it for this gold bar?" You know, and somebody might say that, you know,
and then they're like, "How could BitBoy fit in a Miata?" Okay? And I'm like, "Call me Ben.
It's not BitBoy." But the point here is, okay, is that at some point,
you know, we are going to move towards a bear market. I'm kind of shifting points here actually. We will move to a bear market
in my opinion, you know. Where Ethereum will be at at the end of that
bear market, as its purpose, as its goals, as it's, you know, what it does, I think that it might start shifting into
that store of value narrative, but also the Ethereum network does a lot of things
and can change the internet, so I think we'll see that.
As far as the end of the bear market,
or the end of the bull market, do you guys believe– because you got my thoughts on it
on your channel. I want to get your thoughts. Do you guys believe in this Bitcoin supercycle? Or do you guys believe that there will be
a defined end to this bull run on Bitcoin? And if so, you know, what is y'all exit strategy? And we're from Georgia, so we do say "y'all". – Alright, y'all.
– Thank you. As far as Bitcoin's supercycle goes, it makes sense to me that this is the first cycle where people realize
that Bitcoin or digital currency is here to stay. The first 10 years, everybody's looking to sell their Bitcoin. Now, we're seeing corporations or,
you know, high net worth individuals or publicly traded companies say,
"I'm buying Bitcoin for a decade." You know, they're saying the things that
the hardcore Bitcoiners always believed in. Now, that's starting to come to fruition. And again, this is like the first
mainstream Bitcoin cycle. You thought 2017 was big? No. It had just a few exchanges that couldn't
handle onboarding people at the top.
Three years prior to that, there was like
one exchange, Mt. Gox. It crashed. Since 2017, the plumbing and
infrastructure has 100X'ed, so here's the thing. I mean, as far as could this be
a supercycle, I like what you said in our interview. I hope a lot of people saw that. And that perhaps a supercycle means
that instead of 80%, 90% correction, maybe it'll be a 60% correction. I also like what cycle trader Bob Loukas says
that perhaps not this cycle, but the next cycle will be more left-translated, and that it'll be a huge run-up at the very beginning
and people will think, "Oh, my God! This is hyperbitcoinization!" Only to have an extended bear market happen.
Basically to break the four-year cycle type thought
because like this cycle, nobody really understand– like, people don't think about in four-year cycles
because it for us who is in it, but by next cycle, everybody is going
to be thinking about that. So, my personal exit strategy is this. There is a certain amount of Bitcoin
that I will never sell because if you sell and then you,
you know, you miss a blow-off top, – it's hard to get back in.
– Yeah. So there's a large portion of my Bitcoin
that I will never sell because for me, I'm thinking about it a decade going down the line. You know, that being said, hey, I still want to
upgrade my life so I, you know, here's the thing. I'm not going to sell when Bitcoin gets to $100,000. I think, I think that's a great time to buy Bitcoin
because you can get 0.1 Bitcoin for $10,000. I'm only going to sell after Bitcoin hits $200,000. Maybe I'll just sell a little bit
and then, of course, you know, you have to talk to me in the month before and after
because we gotta actually try and time the top better.
– That's kind of my thoughts. Austin, you have anything? That was, I mean, great perspective.
You summed it up very well. I would agree that, I mean, generally,
will we have– will we see a bear market again? Absolutely. Just and the fact that eventually
we'll get overbought and then we'll correct. Will that be 60%? Will it be 90%?
We'll have to see then. My exit strategy– Personally, I mean, we're going to, you know,
I'm going to start thinking about it around $100K because, in my opinion, there's no doubt that
eventually in the short term we're getting to $100K, so start thinking about it then, seeing kind of the on-chain metrics. One of the things that we like to bring up
on our channel, I've seen on your channel, you know, we don't have to guess on some
of the fundamental blockchain analysis. We have people, you know, uncovering that,
and we can watch. And then around that time,
it has to do with a little bit on price, but also where we are timewise in the cycle. And if it's a four-year, you know, we're probably
going to top out at the end of this year, around there.
We don't know, but my personal strategy
is I'm selling altcoins first, then some of them maybe the higher capital altcoins. Then Bitcoin is the last thing I'll sell. Now, Ben, I said that in another interview,
and I saw a comment that said, "Hey, this guy's a dummy! Doesn't he know that altcoins– Bitcoin will top
and then altcoins are going to top? This guy's doing it wrong." And I'm glad, first of all, that the audience
is developing their own strategy. Yeah. For my strategy, you are never going
to know when the top is going to be, so for example, in 2017, people thought that around $10K was going to be–
it's probably going to top out there. Oop! It went $9K more to $19K, and then the altcoins topped, you know,
two weeks later in January. But for me, just like how I cost average in
to Bitcoin or altcoins on its way down, you know, try and try and do my best
to get around the bottom.
That's how I'm going to cost average out. You know, based on time, based on price,
you know, sell, not all the low cap stuff, but get out of those first, and then if they keep going, and obviously
there's more opportunity to catch up. – That's me.
– But, another strategy, 'cause I agree, like, you know, get out of altcoins.
You don't want to get stuck holding bags, but always keep a little bit maybe, the little
moon bag, because you never know. Yeah, I mean, you know,
it doesn't hurt to keep a moon bag. The exact definition of moon bag,
for people that don't know, is when you get a bag of some kind of altcoin, and the price extends past the point where
you can pull out your original investment, and then you still have enough to where
if it goes parabolic, you have money, if not, you didn't lose money. And that's, you know, really big in the
altcoin world because it's very common.
I really like your strategy of dollar-cost averaging out. I think that's something that
enough people don't talk about. We all talk about dollar-cost averaging in, but not out, and that definitely is, you know,
a strategy that we are going to use because if you do try to time the top of that market, you know, because, I mean, let's face facts.
The pullback that we just had from Bitcoin
over the last month, okay? It seems like it is such a similar pattern to what
we saw in December of– and January of 2017, 2018. It's almost identical to what happened. The reason why we don't think this is the top of
the market is because of the Bitcoin cycles, and we just believe the fundamental stuff. There's a lot going on. We haven't on the NUPL indicator,
the Net Unrealized Profit/Loss indicator, we haven't gotten to the euphoria stage,
which always indicates a top, so we got a lot of reasons not to believe
that this is the end. And that the price is going to go up. Like you said there, Austin, I definitely believe the
price of Bitcoin is going up to minimum six figures. Okay? But trying to time that exact top of the market, it's easy to look back at the chart
and say, "Well, that was the top!" But what separated that dip
from the ones before it? That's why dollar-cost averaging out
I definitely believe is a great strategy.
Well, guys, it has been a pleasure. It's been a blast. Has it really been almost a year? It has.
Since we did that last interview? Golly. That is so crazy. Time flies. Time flies. Where will we be one year from now
when we do this again? We will both be at a million subscribers. Alright. I love that. Probably. I hope so. Thank you so much
for having us on, Ben. It's a pleasure. I wish you success.
Thank you, guys. Thank you so much
for coming on, guys. It has been a blast, like I said. Guys, don't forget to go to Altcoin Daily channel. We'll have their channel video, or their channel link,
excuse me, in the description down below. You guys can go subscribe to their channel. Help them out. You know, they're poor little YouTubers, you know,
with only, you know, almost 400,000 subscribers, so. But seriously, go support them.
They got a great channel. And we will talk to you guys later. That's all we got.
Be blessed. BitBoy out..