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alright alright I gotta talk about I gotta talk about okay I just have to because there's just way too many people talking and giving opinions about the crypto market that either completely is inform like people that I respect who are ill informed or people who I don't respect that are purposely spewing fear uncertainty and doubt across the market so there's a panic style and I can pick up corners for cheap or they're just going to try to keep down the crypto market altogether right and sometimes not out of ignorance but in their own interests and then they'll say ridiculous things like like the infamous Bitcoin has no intrinsic value or Peter should say like Bitcoin is is this digital fool's gold and out today mister Howard Marks must also believe that a bitcoin is upon duty right let me explain in the most blaming way possible life all these claims are complete garbage like starting with the intrinsic value next question every asset in the financial system it trades based on relative value and when you boil them down to their simplest right ultimately the value is denominated in or against the US dollar why because murder has really big good and really big army for the dollar remains and reserve currency of the world even though a dollar today is worth only like five percent of the dollars value from the early 20th century because the Fed has a printing problem and they can't seem to quit printing more dollars into circulation yet none of these experts have a problem saying that the dollar holds intrinsic value even though we know from clear fundamental that the dollar is losing value every single year let's look at Google's definition of infinity intrinsic value is the actual value of a company or asset based on an underlying perception of its true value including all aspects of the business so it's a whole world know that the Fed is pumping more dollars in clean circulation through something so unconventional at one stage easy right took to the point that even Gaddafi wanted to create a gold back African currency to protect Libya from from galleries odor and he was finally explore it doesn't that mean that the world perceives that the dollar holds less value I mean it's it's just ridiculous the things that these people say and more importantly what they don't say which see everybody has their own special interest right even me so so so don't take anything I say for 100 cents that 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 like oh oh only music into sending crypto is because he's vested listen so market doesn't need me to survive right the market doesn't need my little youtube my little scheme videos to do what it's going to do the blockchain train is contained by no main all right and I don't need to remonstrate or dissuade anybody from something for for my personal interest to be met so when somebody with the influence of a guy like Howard Marks says things like Bitcoin isn't real and it's a Ponzi scheme then you really gotta ask yourself the question why why would he make such a baseless claim because Howard Marks and not many all right this guy is worse billions of dollars legs started to do some research as you may or may not know the true value of Bitcoin lies in what's local octane technology and it's the blockchain technology that crypto currencies run on that gives it value okay what's blocking blockchain is a distributed ledger technology that underlies cryptocurrency I like my quick form and it provides a way to record and transfer data that is transparent they order the bull and resisted outages is the blockchain that has the ability to make these organizations that music transparent democratic efficient and a centralized so so what does that mean for industries like say the baking industry it means serious trouble for the banking industry as well it means it means that you can send like 10 million dollars from Hawaii China with speeds of like three dollars instead of finishing in 50 thousand dollars that's intrinsically valuable that's got to be a serious credit for people involved in the banking industry but we have got nothing to do with Howard Marks why he's just a hedge fund manager ultra prominent and fun with over a hundred billion and ambassador from the management wait a minute what assets are under management let's take a look at it holy so this website is called holdings channel you can look it up yourself this will show you what assets are different hedge funds are holding look at the content alcohol by mr.
Howard Matt first one we have here is high let's not be that bad okay what'd I tell you hmm Brazilian public quoted bank okay shouldn't be to that I mean and you hold some other stuff what about this one ftt can be that bad up first Bank Corp puerto rico's hmm another thanks doc perhaps oh is a publicly owned financial holding company another Bank stock okay let's jump ahead hold it oh my goodness Ali financial on another Bank there's a ten million dollar share position I guess we know why he thinks it's a Ponzi scheme good rope you're going to say that the market is speculative fine I would agree with you I would do you one better and say it's beyond secular list it's to the room as they say but it but the same things like it's a Ponzi scheme or that it has no value like real Pacific Prince Peter ship whose entire company is determined by the performance of gold right and people who buy the gold from him I have to call out those serious and misleading laws and this is exactly what makes your pain baseless and even makes me question your motives because not only does Bitcoin clearly past the Google Definition test of holding perceived value but it also holds actual real world value by the way of its consumption in the first place how is that they I'll explain is he a Bitcoin miners do special hardware to solve math problems or what's called an algorithm and the reason they do this is to run the network miners are required to approve quick coin transactions and they do it to remind okay the network and even the same way the bank is required to approve and transact wire transfers a hardware they used to do this is known as a mining rate and this mining rings are not cheap they called rock bottom and they call a lot of electricity to run if I'm spending money to run my mining rig in order to receive a kickback and the former Bitcoin I'm not doing that for nothing that kickback holds value the money that I spent at I'm invested in accessible software the electricity used to mine put it like that all those things hold true value in a same exact way that people use labor to mine for a natural mineral like diamond or gold it's no different but because it's digital it's a Ponzi scheme and holds no real value do me a favor and tell me how much that makes sense to you in the comments
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