This is one of the many financial black swan events where BTC and/or other cryptocurrencies become valuable. There are plenty more black swans, too, such as hyperinflation of any major currency, bitcoin overtaking gold as a store of value, a stock market crash, a larger world war than any in history, even just a large bubble forming from human greed, etc.
In the book “Fooled by Randomness”, one of the author’s strategies is to bet on these black swan events. Sure, none of them are likely, but if you make a small enough bet on these events enough times, you eventually make a single larger return than all of the small losses combined. It’s a positive expected value bet that you expect to LOSE. But they can be very a powerful tool in an investment portfolio by boosting the overall reward more than the overall risk.
Cryptocurrencies tame their own obscenely high risk within a balanced portfolio both by being a non-correlating asset, and by serving as a hedge against certain black swan events.
Email wouldn’t of caught on if everyone was pushed into running a email server.
This is a horrible analogy! Internet without e-mail works just fine. However, Bitcoin must be valuable for it to work at all. Bitcoin works exactly because it is expensive to cheat.
Much props to this guy for being there from way back, but to be dead honest, the crypto space has WAY too many nobodys just masquerading as so-called experts or influencers. This is part of the reason why wall street never gives any credit to the crypto world because we’re all led by these random people that just so happened to buy bitcoin a long time ago.
Kind of sick of seeing dudes like Andreas, Roger Ver, Jimmy Song, etc. What a joke
Who is Bitcoin? Nobody has asked that question.
Wow. 1 year on reddit and i still don’t know how to copy the link to this video on phone app
Andreas is ridiculously smart and well informed.. so can someone explain to me what I’m missing here? Bitcoin the currency is email, and the “internet of money” is all of the applications besides just currency that have yet to come.
That part I get, but it sounds like exactly what Ethereum fanboys would say. I know Andreas thinks all the applications and value will be on Bitcoin, but I don’t see nearly as much development and new applications taking shape on Bitcoin as on Ethereum. Makes it seem like crypto is the internet of money and Bitcoin (the store of value for the space) is just email.
What am I missing?
Email, i was looking the meme of Internet money. Oh wait that must be bitcoin cash. Nevermind
So what other applications besides currency can we use this technology for? I was having this conversation today with a co-worker, about how the crypto technology is the next new thing, and I was having a hard time coming up with other ideas besides money.
Dumb analogy. What Bitcoin really is, is some stupid piece of junk that rich psychopaths have taken over and are trying to pump. Once they milk society, they’ll change the narrative. It has already changed. Bitcoin used to be completely different, which is why I struggled to believe in it, early on. There’s no way the psychopaths would have been willing to accept it as it was, which was purely decentralized. That’s why they fucked it up. If they had not fucked it up, it would be worth $1,000,000+ by now and we would have had a true solution to the problem Bitcoin was originally intended to solve. Now it’s become some other shit.
If all you were doing on the internet in 1992 was email you were entirely missing the point
with all the BS and fake whatever people out there – it feels so good to hear an intelligent voice once in a while – tx God for Andreas
Thank God for ethereum
Where’s the entire video this is from?
In that case, why not help promote other worthy platforms?
Bitcoin is sooooooo going to kick ass!!
This is an awesome analogy!
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