Why Bitcoin is Different & Cartel Manipulation Discussion
This is a new series which is super informal - don't have high expectations for this and simply skip over it if you prefer my more focused videos. In this episode, we briefly discuss the market and then go into a few articles.
Time-stamps for easier viewing:
0:00 - Introduction to Series
2:28 - Brief Market Update
3:32 - Why Bitcoin is Different by Jimmy Song Discussion
10:13 - 4th Dimension: Bitcoin Manipulation Cartel by Super Crypto Discussion
16:45 - Blockchain with Digital Collectibles for Gaming Discussion
20:23 - Conclusion
As always, feel free to leave your thoughts in the comment section below.
Yeah, video format is fine. As you say, is an easy way to give feedback on weekly events / stories and opinions being thrown around out there. As you say, there are a lot of people talking about BTC price suppression, but very few seeing that different people are always trying to manipulate BTC price / confidence in it in different directions (both UP and DOWN) and for different reasons.
Some quick detail on your investment / trading strategy would be nice (did you sell your $8k BTC at $12k or are you hodling - or are you a TRADER and not an INVESTOR as your YouTube name suggests?). Are you still bullish at all? If so, on what? ETH or any other Alt coin, or just BTC? Would be useful example for those of us with little investment / trading experience and those not doing well / making mistakes.
Also, would like to know if you are a BTC maximalist or not (I know that you kinda touched on this here). Personally I worry more and more that Alts really are pretty much an outright scam and that they are headed for next to zero :0/. Which means that a LOT of people in this space (like 95%) are either just wrong, deluded, or are actively scamming the public.
One reason that I worry about Alts as an investment is that they are not shares in a company (which return dividends etc.). A company like Ripple may do well or strike an important deal with a client, but that deal may not even involve the XRP token! Or BNB token from Binance - sure Binance is doing great - and so is their token - but will it have any value long term (again it is not a company share).
Finally, would be interesting to know are there any TA's etc. online that you follow? In my opinion Tone Vays seems pretty spot on with his BTC price analysis, any thoughts?
Markets are markets and although groups may try to manipulate prices but it gets harder to do as more participants enter and hold the asset. Agree that markets have been irrational starting with the increase to $20k. That being said, we may see it irrational to the downside as well.
Look forward to more from this series. Great content!
Another informative post. I love watching your videos (on youtube Ive been following you for quite a while).
Just checked your profile just to realize that we seem to share a number of interests :)
In particular that we both share a similar passion towards cryptocurrencies and blockchain technology :)
Please continue up with creating interesting content - it may be hard at the beginning to build reach and solid followers base.
Steemits needs solid content builders so just dont ever give up! :)
Cheers, Piotr
Bitcoin certainly is the radical innovator and Ethereum or other Altcoins are more or less incremental innovators. But if you look at Daimler Benz, who radical innovated carriages, others also pushed for innovations. Ford innovated by mass producing its product and lowering its costs (this could be smart contracts like Ethereum or Privacy like Dash, Zcash or Monero), Porsche found a niche for sport cars and so on.
And maybe we could see something similar in crypto as well. Bitcoin will probably stay, but there will be a crypto currency focused on privacy (as it might be outlawed in some or most countries), Ethereum might have found its niche for smart contracts and radically trying to push forward and maybe a more centralized smart contract currency like NEO or Cardano is more suitable for restrictive goverments to adopt like China.
So yes, Bitcoin probably will be king, but there might be space for a couple of other crypto currencies, doing things Bitcoin doesnt want to or cant do.
Regarding the last point, this is what the altcoin Game Credits is working on. Its a minable coin that likely is functionally very much like bitcoin, but is working on usecases with games. Making deals with game developers and coding platforms so that they can intigrate Game Credtis payment functions for both games and ingame items like collectables.
You can alreaddy buy games with it via theyre client. So this is being worked on.
Blaming a cartel is so attractive and easy. A lot of people want to believe it.
I did enjoy this type of series. Hope to see more of them. I like this vlog type of it and I think that these explanations of different articles are great. I don't mind the length of it because it is really informative and I enjoy this.
Yep, this is a good companion to your more focused content. Essentially (from my fiction writers perspective) this is a vlogger freewriting, exploring thoughts/ideas without the rigid quality requirements that can cage creative thought and suppress emerging concepts.
The theory of a manipulation cartel is a little overblown and I def. not the type to poo-poo alternative narratives to how the world is ACTUALLY working. Threads of truth in the overall theory for sure, but it's a little too clean and "pieced-together" for me to intuit (and of course intuition isn't the best mechanism for discerning truth, i get it) it as a plausible scenario. Admittedly, i didn't go through the entire article (stupid me) but I did follow your discussion of it. This is a huge, emerging marketplace that is revolutionizing the way people view value exchange. To boil macro price movements down to simplified cause and effect relationships doesn't sit well in my stomach.
Nice short form video so I hope you do more of these. While I agree with you that I do not think that there is some kind of mega conspiracy to suppress the price of BTC I am not sure that is the case for Gold and Silver. It seems to me that in these cases that the huge quantities of derivatives being traded are being used to control the price .