저자: Zay.Gatsby-소속미상 · 외국인
요약 보기
결론: 발표자는 비트코인이 폰지 사기이며 내재가치가 없다는 주장들을 반박하며 비트코인이 가치가 있다고 주장한다. 핵심 주장: 하워드 막스 등 유명인들이 비트코인을 폰지 사기·내재가치 없음이라고 비판하는 것은 근거가 없다고 주장한다. 달러 가치 논리: 모든 자산은 상대가치로 거래되며 궁극적으로 달러로 표시된다. 달러 역시 연준의 인쇄로 가치가 하락해 왔는데도 내재가치가 있다고 인정되므로, 비트코인에만 내재가치 잣대를 들이대는 것은 모순이라고 한다. 블록체인 논리: 비트코인 가치의 본질은 블록체인 기술에 있으며, 분산원장 기술은 거래를 투명·효율적으로 만들어 은행 등 기존 산업에 큰 위협이 된다고 주장한다. 예시로 해외송금 비용이 대폭 줄어드는 점을 든다. 하워드 막스 비판: 발표자는 holdingschannel 사이트를 인용해 막스가 운용하는 헤지펀드가 여러 은행주를 보유한다는 점을 들어, 비트코인 비판이 이해관계에 따른 것이라고 의심한다. 채굴 가치: 채굴에는 고가의 전용 하드웨어와 많은 전기가 소모되며, 이 비용과 노동이 금·다이아몬드 채굴과 마찬가지로 실질 가치를 가진다고 주장한다. 추가 언급: 피터 시프(금 투자 업체 운영)의 비트코인 비판도 이익 상충으로 반박한다. 출연자 전망: 영상 내 명시적인 1~3개월 가격 예측은 없으며, 장기적으로 블록체인 기술과 비트코인 가치에 대한 낙관적 견해가 주를 이룬다. 리스크/조건: 발표자는 시청자에게 스스로 조사할 것을 권하며 투자 결정의 책임을 강조한다.
다듬은 글
Alright, alright. I have to talk about this. I just have to, because there are way too many people giving opinions about the crypto market. Some are people I respect who are simply ill-informed. Others are people I don't respect, who are purposely spreading fear, uncertainty, and doubt across the market. Maybe they want to start a panic so they can pick up coins cheap, or they just want to keep the crypto market down altogether. And sometimes it's not out of ignorance, but out of their own interests.
Then they say ridiculous things. Like the infamous claim that Bitcoin has no intrinsic value. Or Peter Schiff calling Bitcoin "digital fool's gold." And today, Mr. Howard Marks must also believe that Bitcoin is a Ponzi scheme. Let me explain, in the bluntest way possible: all these claims are complete garbage. Start with intrinsic value.
Every asset in the financial system trades based on relative value. When you boil it down to the simplest level, ultimately the value is denominated in, or measured against, the US dollar. Why? Because America has a really big economy and a really big army, and the dollar remains the world's reserve currency. Even though a dollar today is worth only about five percent of what it was worth in the early 20th century, because the Fed has a printing problem and can't seem to stop printing dollars into circulation. Yet none of these experts have any problem saying the dollar holds intrinsic value, even though we know from clear fundamentals that the dollar loses value every single year.
Let's look at Google's definition of intrinsic value: the actual value of a company or asset based on an underlying perception of its true value, including all aspects of the business. So think about it. The Fed is pumping more dollars into circulation through unconventional means. At one stage, it got so bad that even Gaddafi wanted to create a gold-backed African currency to protect Libya from Western influence, and he was eventually... well, we know how that went. Doesn't that mean the world perceives that the dollar holds less value? It's ridiculous, the things these people say, and more importantly, what they don't say.
Everybody has their own special interests, right? Even me. So don't take anything I say at 100 cents on the dollar. I'm telling you the way I see it. It's up to you to do the research on why I see it that way. And before you run off thinking, "Oh, he's only saying crypto is great because he's invested," listen: the market doesn't need me to survive. The market doesn't need my little YouTube scheme videos to do what it's going to do. The blockchain train is unstoppable. I don't need to browbeat or dissuade anybody from anything to satisfy my personal interests.
So when somebody with the influence of a guy like Howard Marks, who manages billions of dollars, says things like "Bitcoin isn't real and it's a Ponzi scheme," you really have to ask yourself why. Why would he make such a baseless claim? Let's start doing some research. As you may or may not know, the true value of Bitcoin lies in its underlying technology, and it's the blockchain technology that cryptocurrencies run on that gives it value.
What is blockchain? It's a distributed ledger technology that underlies cryptocurrency. It provides a way to record and transfer data transparently. And the blockchain has the ability to make organizations more transparent, democratic, efficient, and decentralized. So what does that mean for industries like the banking industry? It means serious trouble for banks. It means you can send, say, ten million dollars from Hawaii to China at high speed, instead of paying fifty thousand dollars in fees. That's intrinsically valuable. That's got to be a serious concern for people in the banking industry.
But what does any of this have to do with Howard Marks? Well, he's a hedge fund manager, ultra-prominent, with over a hundred billion dollars under management. Wait a minute, what assets is he managing? Let's take a look. There's a website called Holdings Channel. You can look it up yourself, and it shows what assets different hedge funds are holding. Looking at the holdings of Mr. Howard Marks's fund: the first one we have here is... well, let's not be that bad. Okay, what did I tell you? A Brazilian publicly quoted bank. Okay, that shouldn't be too bad. And he holds some other stuff. What about this one? FTT. Could that be that bad? Next, a First BanCorp in Puerto Rico. Another one, a publicly owned financial holding company. Another bank stock. Okay, let's jump ahead. Oh my goodness, Ally Financial, another bank, with a ten-million-dollar share position. I guess we know why he thinks it's a Ponzi scheme.
Good grief. You're going to say the market is speculative? Fine, I'd agree with you. I'd go one better and say it's beyond speculative, it's a casino, as they say. But saying things like "it's a Ponzi scheme" or "it has no value" is like Peter Schiff, whose entire company's performance is tied to gold, and the people who buy gold from him. I have to call out those serious and misleading claims. And this is exactly what makes them baseless, and even makes me question their motives. Because not only does Bitcoin clearly pass the Google definition test of holding perceived value, it also holds actual real-world value through its consumption in the first place.
How? I'll explain. Bitcoin miners run special hardware to solve math problems, or what's called an algorithm. The reason they do this is to run the network. Miners are required to approve crypto transactions, the same way a bank is required to approve and process wire transfers. The hardware used to do this is known as a mining rig. Mining rigs are not cheap, and they consume a lot of electricity to run. If I'm spending money to run my mining rig in order to receive a payout in Bitcoin, I'm not doing that for nothing. That payout holds value. The money I spent on the hardware, the specialized software, and the electricity used to mine all hold real value, in exactly the same way that people use labor to mine for natural minerals like diamonds or gold. It's no different. But because it's digital, they call it a Ponzi scheme with no real value. So do me a favor: tell me in the comments how much that makes sense to you.
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