is bitcoin safe? address many issues with bitcoin

hi chicken gang and friends i'll address the issues with bitcoin in this video also you guys asked me very good questions in my previous video so in this video let's go through them one by one it took me like four to five hours of reading and replying because i value your thoughts just a quick one i hope you are smart about this there are so much scammers below in the comments posing as me replying to you spamming of likes on a single comment to boost the placement the real me have a tick beside my comment so don't be a donkey i will never ask money from you the only thing i ask is likes to help me earn more youtube money to donate to animals that are in need so thank you so much if gbtc also a good way to buy bitcoin gbtc is a trust you can buy this like any other stock on the stocks exchange a trust buys the actual coin and buying the trust is like buying the bitcoin it comes with a management fees for gbtc the management fees are like so high two percent it's like throwing away two percent yearly i don't see the point paying for it when you can directly buy the bitcoin just buy the actual bitcoin i use binance because it is the biggest exchange with the lowest fees the spread difference the bid and us saves me like thousands of dollars i'll link it below if you have a friend and you just use their referral code else i'll just put mine there what about the other cryptos like ethereum or xrp etc i get plenty of that in the comments wow i do agree those mentioned are better technically from smart contracts and faster transactions it does come with downside there is a reason why bitcoin is still number one the argument is super long and needs a separate video to address this but i'll cover this just very quickly while i think ethereum is better it doesn't have a limit like bitcoin bitcoin's limit is like 21 million coins and that's final for ethereum nope while i'm bullish like ethereum and xrp again if you've got to ask yourself what is the investment thesis behind bitcoin you guys know as i mentioned in my previous video i see bitcoins roll as a stock value slash commodity like gold i don't see it like a currency and it shouldn't be used like a currency as a medium of exchange the other thing you need to understand is network effect there are better bitcoins again like ethereum xrp bitcoin cash which is a hard fork from bitcoin etc again the power of such systems are the mess of people using it if nobody uses it no matter how good it is it's not going to gain traction it's the same as real life have you like seen girls who are super hot but doesn't get much attention as girls who are not it's the same thing so what if you are hotter what do you think about d5 what is d5 decentralized finance like housing loan you need to go through the banks and we all know it's a pain i hate banks and i'm sure you do too because crypto is very transparent you don't need the lawyers and bankers to check on you issuing loan becomes a lot easier you can just go to the network and immediately know your risk while i'm super bullish on this it's still in its very early days so it's not for me now ray value for your info he is the world's biggest hedge fund manager i admire this dude he said bitcoin's disadvantage is that it's impractical as a currency it's volatile it's hard to put a price on goods hey i 100 agree with him bitcoin is horrible as a currency the transaction limits are slow like seven per second expensive and day-to-day price fluctuation a business cannot price its goods when i was approaching this topic of bitcoin i was hitting a roadblock knowing its limitations i applied first principles thinking and asked myself what is the value of bitcoin i remapped my studies and came to a conclusion that bitcoin's value as a stock value commodity such as gold is the answer again it's not a currency in the future i see many forms of currency both digital and paper being packed to a commodity like bitcoin or gold i covered this on my previous video with that it answers this question too with governments not being a threat what guarantees bitcoin's value as a stock value slash commodity such as gold eventually somebody is going to pack this value to bitcoin already there is dying stablecoin doing this do you store your bitcoin separately how to keep your bitcoin safe keeping it on the platform is risky due to hacking for me a platform like binance is safe but again nothing is hundred percent so my rule of thumb is anything less than ten thousand dollars it's fine to leave it there anything more store the crypto offline generally referred to code storage slash hard wallets code storage refers to any cryptocurrency wallet that is not connected to the internet so there is no way hackers can get to it for me i use the best of the best from all my research the nano ledger x the ledger s is also good buy directly don't ebay this or good luck the instructions are pretty simple my donkey can do it too i was like you i had quite a lot of questions about these hot wallets what if someone steals my wallet my wallet stops working my donkey at my wallet etc as long you have your 20 forward seat phrase it's recoverable so store the seed phrase like how you store a goba if you do not trust anybody that's the price of sovereignty i'll cover two more questions and i'll cover the rest next time what makes bitcoin so special there are several others that can be created yes agree so first i mentioned network effect above to emphasize this let's look at twitter is it possible that a group of top engineers at twitter suddenly left copied the code and maybe made a better version of twitter and called it twitter 2.0 and publish it totally possible but will anybody use it i give it a 99.99 chance it's gonna fail again like everything for disruption to happen the next technology has to be 10 times better cheaper faster and overall brainless to switch with a lot of people adopting this technology tesla is a perfect example with this answer i partly answered the last comment the rest of the questions again next time bitcoin is supposed to act as a store value except similar to gold and real estate with more convenience however unlike real estate and gold which are truly unique and tested thousands of years is it much easier to create alternative of bitcoin this i just covered with the twitter example there are 2.5 million coins left to mine but there was an estimate that was about three to four million coins that have been lost forever to me this will cause a short supply causing bitcoin price to rush upwards with the constant grid and printing of money fiat money the flight to safety is coming i wouldn't be surprised if i see like hundred thousand dollars in the next two years maybe my price target uh five to ten years is pretty obscene and i choose not to say it because i do not want to cause any formal wrapping up one should invest in bitcoin because you believe in the fundamentals and the value it brings else you need to stay out of it as mentioned previously i bringing my holdings from one percent to five percent and i'm currently at three percent now i'm slowly adding if you have any comments and any questions write it down below i will read and address them appreciate the thumbs up you guys are awesome invest safe you

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