As Bitcoin crashes, I wanted to respond to Graham Stephan about Bitcoin ► Where I Buy Bitcoin: https://gemini.sjv.io/1E3dz ► Get up to a $250 in Digital Currency: https://blockfi.com/andrei ► How I Protect My Bitcoin: https://shop.ledger.com/pages/ledger-... ► My Stock Portfolio + Stock Tracker: https://www.patreon.com/andreijikh ► Deposit $100 and get 2 stocks valued up to $1600): https://act.webull.com/kol-us/share.h... ► ROBINHOOD (Get 1 Stock When You Sign Up): https://robinhood.c3me6x.net/c/198055... ► Open A Roth IRA: https://m1finance.8bxp97.net/c/198055... ► Follow Me On Instagram: https://www.instagram.com/andreijikh/ My PO Box: Andrei Jikh 4132 S. Rainbow Blvd # 270 Las Vegas, NV 89103 As Bitcoin increased in price, people got scared and started buying. Now that Bitcoin is falling, this is important. I want to give my perspectives when I think it’s relevant and Bitcoin is still fresh on everybody’s mind. I hope that by watching this video you walk away with a more balanced perspective by hearing two opposite sides from someone who’s a crypto skeptic and someone who is more of a believer. Issue 1: Let’s start with the first issue that Graham Stephan has with Bitcoin which is the danger of regulation. Can the government ban bitcoin? If it does, to what extent will the price fall and will Bitcoin become irrelevant? One of his concerns is about the government tying your digital wallet to your identity therefore allowing them to know how much money you make and how you spend it. Response: It’s actually no different than the system we have in place today. If the government really wanted to know what you were buying and how much you were making, they’d find out real quick so it’s not a big concern for me. I want the government to have a clearer policy on regulation because as soon as that happens we can finally get a clearer legal perspective and feel safer about investing. Also equity markets would finally create investments that grandpa and grandma can put in their retirement accounts. Issue 2: Tether. Now tether is not a crypto as much as it’s a “stable coin” meaning for every dollar that you buy, one Tether will be created and issued to the market. It’s a 1 for 1 that was meant to hold the value of a single dollar by attaching itself to the dollar. The problem is that technically those tethers could have been printed out of thin air, not at all backed by the dollar. What’s worse, is that when asked to be audited by a third party agency, Tether refused while admitting that only 75% of their token is backed by cash. Not good. Response: Price manipulation isn’t an argument against Bitcoin. I’ll quote Warren Buffet and say price is what you pay, but value is what you get. So while the price of Bitcoin may be outrageously high, the value of what it actually is, which is the potential future of our economic backbone, is still there - regardless of what you pay for it. It still helps all investors looking for passive income and looking to hedge their money against inflation. Issue 3: Volatility. Here Graham Stephan says that Bitcoin's price is super volatile, it can move up and down as much as 20%+ in a single day. "Crypto whales" are people that can influence the price of Bitcoin. Response: In 2009 when Bitcoin launched, it would move up and down by as much 90%+ per day because the market cap was tiny - in the thousands of dollars, then as it grew a little bigger, it started moving 70% per day. Now it’s a big deal when Bitcoin moves 20% per day, and at some point it will be a big deal for it to move 1% per day just like the the stock market. Stability will come with increased liquidity and volume which over time decrease volatility. Issue 4: Bitcoin is backed by nothing. At least the dollar has the backing of the US government where we can redeem it at face value anywhere in the world. Response: This is the intrinsic value problem. However, everything is based on trust. I don’t have to trust the government to give Bitcoin value and redeem it, the free and open market decided that Bitcoin has value. It was designed to be trust-less based on mathematics. I know exactly how many Bitcoins there will be 20 years from now unlike the dollar. Issue 5: People only buy it to speculate, not for the technology. Response: The CFTC classified Bitcoin as a commodity. If we compare Bitcoin to traditional investments like stocks or real estate - we’re comparing apples to oranges which isn’t fair. What We Both Agree On: Invest only what you're comfortable with losing. *None of this is meant to be construed as investment advice, it's for entertainment purposes only. Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.