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hi everyone i'm doing this quick video because i'm tired of hearing peter ship talking about how bitcoin's a ponzi scheme and i mean it shows that she's being very intellectually dishonest because we all know what a ponzi scam is it's well defined it's you can look it up on wikipedia and it has nothing to do with bitcoin it means that ponzi means that i have to say hey you know what everybody that's watching my videos give me some money and i promise you 10 income every month or every year or whatever and i don't go and invest that money in whatever investment that i say i'm doing that's a ponzi scam because i need more people to invest in order pay you a return and i'm not actually using the money to actually make a return so the fact that he he says that is just right uh and and it just it boggles my mind that you would actually do somebody who's intelligent would actually say something like that and and not really say well wait a second hold on that that's not right because if if it's an it's an asset right no diff no no no offense or buts about it it's an acid um and if that asset is a ponzi scam because you're someone trying to sell it to somebody else then stocks are a ponzi scam bonsai ponzi scam um even gold's a ponzi scan then because they're all assets you can buy them and sell it to somebody else at a higher price now what what she's really really concerned with what peter ship is really concerned with and and and nobody has really um debated him on this is that bitcoin is just a bunch of nothing he says he says it's just nothing right you're just trading nothing between each other well oh god peter okay um yeah you know what when when you say okay well let's let's let's start off with software right when i say when i create software right and i get sell to somebody they can they can copy it and give it to somebody else and but that software still has value right it is it's a it's a valuable asset it's valuable for the person who's using it who paid for it and it's value for the person who copied it and is using it for free now they're both nothing the software is nothing because you know you can't hold it can't touch it don't use it right that's it you can only use it now it helps you accomplish something else bitcoin is an asset is a digital asset that's magical it's the first digital asset that's ever been created that cannot be copied that's one thing right that's one thing you're not saying no no oh my god you can't use it for anything else but to sell it to somebody else okay so let's pretend we didn't use bitcoin at all right we should still have that blockchain which you've said before in the past that is useful we just have to blockchain and what does the blockchain provide lets you know who has what and is a permanent record that's that's immutable meaning that nobody can dispute who has what hmm is that valuable is that useful yes it is very useful to know that that property that you own is yours and no one can take it away from you because it's your property and you can prove that it's your property by signing it with your private key wow isn't that incredible proof of ownership permanent proof of ownership isn't that valuable well that's what bitcoin provides if we didn't have the token bitcoin but unfortunately in order to order for you to use that ability you need the token called bitcoin got it now i'm sure nobody's explained that to you that hey you know what uh i could use bitcoin to store a permanent record of uh that i created something i can set say hey you know what i created this music and store that on the bitcoin network i can i can uh i can store like any kind of digital permanent record on bitcoin and make statements on the bitcoin network blockchain and that's a permanent record that's valuable no one can change that record it's absolutely written in stone look at that isn't that incredible a digital asset that's permanently that's a permanent record that has value peter wait the freak up man jesus stop your nonsense grow up what's wrong with you man i hope you learned something someday because you're you're you're missing a whole revolution in technology and you're just stuck because you were wrong back in when it was first invented you found out about it in 2011 and you was like no no no it's crap it's garbage look where it is now so many people are making software around it even regulations governments of creating regulations and realizing how powerful this thing is yet you're still stuck and not seeing this wow wow you're hurting man i hope you really i hope you really um you you really see what's going on and learn from this and i'm probably not gonna see this video but that's all right uh you know a lot of people have told you and you just don't want to listen and this is this video is for my my uh viewers so they see the value of what's going on with cryptocurrencies and bitcoin so thanks for watching and i hope you enjoyed it
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