"BITCOIN JESUS" Now Scared of Bitcoin..
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Today we discuss comments made by Bitcoin Jesus about Bitcoin and its price. He was an early big investor in Bitcoin so his thoughts on Crypto are very important.
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If you own Bitcoin someone just made a statement that you should absolutely be paying attention to. So many people have come out over the last few months and had some concerns about bitcoins price okay? Over the last few months this has happened and everybody’s kind of been written off right whether.
I came out and made concerns all you’re youtuber you don’t know shit. Go take some photos of some houses or something, whether it’s jamie diamond. Oh, it’s cuz he Lee runs the biggest bank in America. That’s why he doesn’t know what he’s talking about.
Whether it’s Lloyd Blankfein, the CEO of Goldman Sachs oh he doesn’t know anything he’s oh he even though he’s connected with everybody that’s anybody in the world he doesn’t know anything. hedge fund manager after mutual fund manager have come out and raised concerns about Bitcoin no one’s paid attention to them all they’ve just you know, written them off all they don’t know anything.
They’re old, old. They’re just salty because they’re not in Bitcoin. They’re not making this money. Yeah, these guys are really salty because they got 43 mansions in like 88 Ferraris and 10 yachts. Yeah, they’re so salty. Yeah, no, absolutely. You’re You’re 100% correct.
Okay, so everybody’s been written off because you’re not in the Bitcoin community. So you can’t speak on this all right. Someone has come out here named Bitcoin Jesus and they are really the Bitcoin Jesus out there guys. And this guy has some real concerns that I think you have to pay attention to at this point. This is not some kind of person from that’s an outsider.
He has been in Bitcoin far before anybody even really had a clue what Bitcoin was okay? Big coin. Jesus is his name, nickname, nickname Bitcoin Jesus. Vir was an early proponent of Bitcoin and bought $25,000 worth in 2011. That’s now worth $425 million. Holy smokes guys. I think I had about 15,000 in 2011.
So I could have probably had about 325 350 mil in the bank right now. But hey, just think about it. If I didn’t have that much you probably wouldn’t be watching this video because I probably wouldn’t be making this video right now. So take that into account.
However, in the debate over how to improve Bitcoin transaction speeds and costs this summer, veer sided with a minority of developers behind an offshoot called Bitcoin cash, okay. The fact of the matter is the utility of Bitcoin has been damaged, veer said if you feel like you missed out on Bitcoin back in 2011. Take a look at Bitcoin cash, give it a use, I think you’ll you’ll be really really impressed with its usefulness.
All right. So on Sunday, the median transaction fee for Bitcoin was $12.42. That’s pretty high versus 1.8 cents for Bitcoin cash, according to info charts. In early Bitcoin investors said Monday that the digital currency can run higher but the hype has far outpaced its usability. Okay, it’s it’s the hype has far outpaced that usability he says it’s a very key line there.
I think in the short run, it can run up a lot more Roger fierce, veer CEO of Bitcoin comm said Monday on CNBC Fast Money, but it’s no longer a crypto currency. It’s a game of hot potato at this point. And gains of hot potato can go on for a long time and lots of people can pump a lot of money into it and it can go higher for even for decades. But as far as it’s being used as money the developers behind that have destroyed that at this point.
I’m really really concerned about the future of Bitcoin he said okay, that is a that’s a lot to take in here. Bitcoin cash launched in August in was trading more than seven and a half percent higher on Monday at about 14 125 according to coin market cap the original Bitcoin which some called Bitcoin Core traded up 12.7% basically on its first date in your 16,950 according to coin desk.
So he raises some huge points here guys once again this is an insider from from a guy that’s been invested in Bitcoin before pretty much anybody even had a clue what Bitcoin was. I remember hearing about Bitcoin back then every once in a while I’d hear about it on like CNBC or Bloomberg and I wouldn’t be like Oh, what’s that thing?
And kind of wouldn’t pay much attention to it way before it was a mainstream thing this guy actually had real money invested like 25,000 just an average person that’s a decent chunk of change especially to be in something Bitcoin at that time was not taken seriously at all he was not taken seriously at all okay, this is way before you know he bought those the the Bitcoin back then.
I think for $1 each it was insane guys, so he’s got a concern with bitcoins price Okay, bitcoins price, that’s what you got to worry about there. He’s got a concern with bitcoins valuation and things like that and how it’s run so much. And now how big point is just looked at it as like an investment class rather than actual cryptocurrency that’s like us to actually buy stuff because.
That’s what it’s supposed to be used for. So we can trade things around in and buy things. And it’s supposed to be a better way than doing it the way we do it right now through debit cards and credit cards. Everybody’s just hoarding these things, and just using it for an investment purpose, okay?
It would be like, if everybody in America, you know, it was like, oh, we’re not going to spend our dollars anymore, we’re just going to keep these dollars in our pocket, and we’re not going to buy anything from anybody with these, we’re just gonna keep our dollars in our pocket, and hope it goes up in value that is kind of what’s going on with Bitcoin.
And that’s one of his major concerns there. So if you’re someone that’s involved with Bitcoin, or you’re thinking about it, these are definitely some comments you should be paying attention to. Okay, you know, minus everybody that’s been important that’s come out and had concerns about this over the last, you know, a few months or last year, like, like, disregard all of them.
This guy is the big point, Jesus, and he’s coming out and telling you this, and has a lot of concerns about this. Like, you got to pay attention to this at some point in time. It’s just it’s worth noting, okay, it’s worth noting, and kind of knowing the risk going into this thing. And like he says, it can go a lot higher.
You know, I don’t think anybody’s in disagreement that anything can go a lot higher in the short term, especially. But what’s going to happen longer term at that point, guys, that’s what we really got to think about here. What’s going to happen six months from now, what’s happened in a year from now what’s happening two years from now?
Is this price going to continue to run? Or is it going to drop dramatically in stay dropped dramatically for a long period of time? Like that? These are the questions you got to ask yourself when you have something that’s flying high like it is and you got a guy like this coming out and saying what he said guys, so they’ll be interested in I’m sure some people are disregarded and say, No.
He’s already made so much money or I don’t know the Illuminati got them or you know, people will say whatever it is, they say, they’ll say, the gold man he got them in, you know, brainwashed him and so he’s not really one of us. Now, he’s not a Bitcoin guy.
He’s actually mainstream or something like people will always make up something. Anyways, I hope you guys enjoyed this. Just kind of want to enlighten you on this whole little situation here. Thank you for watching and have a great day.