Chamath Palihapitiya Warns ETH Holders! (Ethereum to ZERO!)

well i was also curious so do you see merit and any of the other crypto assets uh in particular ethereum no billionaires you gotta love them jamaat palahabitaya one of the first employees of facebook has been extremely bullish on bitcoin he's made the rounds recently discussing how huddling bitcoin helps him to sleep at night with all the rampant money printing going on it's easy to see why any person would want to get out of cash and into other assets but the only crypto asset chamoth believes in is bitcoin but where does this leave our poor little baby aetherium stay tuned today as we break down his thoughts and then i set him straight let's get it bit swap is the hottest new way to trade tokens probably all the top decentralized exchanges bitswap gives you the very best price and value for your trades bid swap is changing the game try it now at bitswap decks dot io welcome to bitboy crypto my name is ben every day on this channel i show you how to make money in cryptocurrency if you like money and crypto please make sure to hit that subscribe button and go ahead and smash the like button for us while you're at it also guys make sure if you're interested in trading bitcoin and ethereum to check out by bit by visiting you sign up for an account and get a 500 deposit bonus by using the code jackpot now in this video we're going to discuss what a billionaire thinks about bitcoin versus ethereum what he had to say was absolutely shocking recently chamath palahopita was on laura shin's crypto podcast unchained to discuss his thoughts about bitcoin previously working with america online chamath was one of the first engineers to work for facebook he was able to ride that wave to the tune of over a billion dollars so he understands a little something about being involved with first movers in a space and this guy is absolutely cutthroat he has a bit of a reputation even for being a bully as the legend says he regularly made other facebook employees cry and i mean look at him if you don't get chills down your spine and a feeling of overwhelming fear by looking at this intimidating killer then you my friend are bold i would definitely not want to meet this guy in a dark alley but in all seriousness when it comes to business and the world of finance he definitely has a keen eye for making money since leaving facebook he has gotten involved in many ventures but has also been harsh on facebook due to its role in censorship and encouraging extremism recently on cnbc chmath heavily criticized facebook for its role in recent political upheaval but that's an entirely different video today we're focused on chamath's thoughts on bitcoin and more importantly why he believes that ethereum is basically worthless to investors now he hasn't been afraid to go against the status quo many years ago cnbc filmed an interview with bill gates warren buffett and charlie munger during this interview all three of these high dollar investors dismissed bitcoin bill gates even said he wanted to short it check out what chamoth had to say about all three of those investors the asset itself is creating nothing i think it's a scumball activity i would short it if there was an easy way to do it so there you have it you have bill gates warren buffett charlie munger one of them was calling it a scumball activity the other saying bill gates saying he would short this thing if he could and you're saying they're all wrong yeah well look not everybody is right all the time and i think we have to acknowledge that we all have biases and look i'm a disciple of buffett and monger and one of the things that they have said for years which i believe is you define a circle of competence and you stay within it and i think it's been clear in his entire investing career that technology is not in his circle of competence can you say burn city how dumb do all these billionaires look now jamaat said it all stick with what you know in their twilight years gates buffett and munger are no longer competent in the world of technology the only tech stock the buffett owns for instance in fact it's apple or at least at the time that that was recorded the word on the street is his portfolio is expanding to more blockchain stocks but interestingly enough it seems like in my opinion old big bully chimoff is sounding a little out of his element talking about ethereum he's starting to sound a little like warren buffett on this one here is what he had to say when laura shin asked him about ethereum well i was also curious so do you see merit in any of the other crypto assets in particular ethereum no bullish on bitcoin bully on ethereum let's see what he goes on to say regarding his investment advice for those looking to jump into cryptocurrency investing and why not you know it's kind it's kind of like when you have a bellwether instrument the gains typically go to the winner and the simple decision is to go to the category defining winner and then set it and forget it my view has always been you find the one that's about to win facebook microsoft apple google amazon and you buy it so here is his advice in a nutshell find the winner and go with that don't worry about throwing money into speculative assets when you can simply invest in the winner and i definitely get that but unfortunately for mr pahapalataya that just doesn't apply to cryptocurrency and besides by his logic apparently investing in myspace would have been a big win or america online as former employer it's hard to know exactly when the tipping point comes in for an asset when it goes mass market but here's where he is dead wrong about his classification of bitcoin as the winner and ethereum as a long shot blockchain and cryptocurrency is much bigger than a niche it's not social media it's not a tech stock it's much more comparable to the entire internet each niche on the internet has had a chance to absolutely explode search engines retail shopping advertising self-help beauty news dating health fitness etc etc these are all gigantic niches where people have made millions and billions of dollars to say that only one website could rule the entire internet it's insane and yet that is pretty much what chamoth is saying here bitcoin is a first mover in the currency niche of crypto and it even has transitioned to the dominant coin serving as a store of value that's why we call it digital gold that's basically what it serves as but there are far more niches than just that ethereum is the first mover in the smart contract platform space v chain is the first mover in the supply chain space steam was the first mover in the decentralized social media space binance coin was the first mover in the exchange token space chain link in the oracle space and i could go on and on for a while because there's plenty more coins and plenty more niches each one of these niches or niches as some weird people say will have big winners i even believe that cryptocurrency will have companies that dwarf the so-called fang companies consisting of facebook apple amazon netflix and google remember this when the world goes into different types of revolutions such as the industrial revolution the internet boom the explosion of automobiles and many others the companies that come out as the top dogs are not the same companies that go in as the top dogs so to summarize i'm witch him off i believe bitcoin is the future it's definitely the behemoth in crypto but i differ from him when it comes to ethereum i believe it's a totally legit cryptocurrency offering even bigger rewards for investors than bitcoin does at this point and probably by the time the next bull run comes around there could be another coin offering better returns than bitcoin or ethereum but what do you think do you agree with me that ethereum is the future or do you agree with the big bad bully chamas palapatiya and do you think it's pointless to invest in ethereum drop your comments down below that's all i got be blessed [Music] you

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