so are we light it does say we are live yes
okay excellent get going hello everybody just give it a
few minutes for the little counter here to stop showing people turning up yes we
have our first viewer hello everybody hope you're well
thank you for being here and especially if you're in England it's fantastic
weather outside and I really want to thank you for taking time to be here
listening to us rather than being out there and fantastic weather so thank you
very much for being here today's topic is as the description says
Bitcoin basic so it would be a very basic description but there are a few
issues that our members existing members have been raising over a period of time
in the discussions that they have with other people and we want to try and
address those things and just get to understand Bitcoin a little better from
a very simplistic point of view so that you can explain it to a ten-year-old and
it does not have to be as complicated and technical now I have my able
colleague Bill Wilmot with me here he will engage with you in the chat because
I will be able to present and chat at the same time if you have any questions
or anything please shoot there but we may not actually get enough time for
question answers we'll try and see how it does we'll just you know go with the
flow right so let's get straight into the today's presentation I'm just going
to share my screen with me a screen share bill if you don't mind if you
don't mind please if you can confirm if you see what I'm saying
it should say basics explained in a basic way can you
see that bill if you're not muted or go back I'll do it alright all so let's get
going Bitcoin basics explained in a basic way first of all let us all just
clear the deck a little bit and ask a very simple question I use here because
you want to make get Bitcoin to make you wealthy is that the is that the whole
point is are you here because bitcoin is of monetary interest to you or are you
here because you care about how the blockchain technology really works and
what distributed Ledger's are all about and the algorithm and the inner workings
and the cogs and the wheels and statistical analysis and all the jargon
attached to Bitcoin if you are here for the latter we can cover all of these
over the period of time because there's a lot of content but if you're here just
because bitcoin is catching your attention because it is money then
everything we discuss in this video today you should be able to share it
freely there are no links there is no other further description it's just a
video on its own share it if you want to point to somebody the discussion we're
about to have now excuse me from the general public this is what happens
bitcoin is a bubble it's a challenge an allegation it is an opinion it is a
theory or is it fact so let's explore this this is going to be an open-ended
question I'm not going to give you the answers but you will be the ones to
determine what is your answer for this because it's one thing for me or anybody
else or any other person to give an opinion but what do you personally make
of it let's let's deal with that first because when you know what it is you can
answer people in your own words and you don't have to borrow somebody else's
words okay so this is what bitcoin should look like this is just a visual
example so you know it's not necessarily the
Bitcoin really works but this is the theory behind it so let me show you
something here if one Bitcoin is $1 you could represent it like this zero point
seven zeros to the right of the decimal followed by one you could represent
Bitcoin like that okay now it did go from $1 to $10 at some point in its
lifespan that is a 10 times jump 10x on the side here tells you to 10 times jump
the proportion of the jump it made in price is exactly the same from 10 to 100
so now that is also 10 times and then from a hundred to a thousand that is
also ten times wanted a bubble between 1 and 10 some would have thought so was it
a bubble between ten and a hundred some would have thought so today the price
hovered around 2600 the last time I checked so I just quickly updated the
chart because I wasn't sure what what price it was might be today so first of
July Bitcoin is in the region of $2,600 unless something happened in the last
few minutes I don't know and that is somewhere in the region between a
thousand and ten thousand yeah the closer to a thousand clearly but it's
somewhere in that region those people said this is a bubble you need to ask
them well was it not a bubble just a little before that when it jumped 10
times in value and then 10 times before that and then 10 times before that and
if you just look at the digit in you look at these ones coming down in a
diagonal line here if bitcoin reached a hundred million dollars each if I'm not
saying it's going to but if mathematically this unit this currency
Bitcoin has that ability mathematically and it has that ability better than any
other fiat currency including the dollar because those billions and trillions are
printed and created out of nothing Bitcoin doesn't work like that bitcoin
has something real behind it which is proof of work
so when people say it's a bubble you need to first qualify the statement
bubble compared to what okay a bubble is a bubble is a bubble agreed we
understand the word and a bubble the idea behind it is that as it pops okay
so fine if it pops it will go back down ten to ten times through hundreds of
levels levels of just a hundred or so but we are here at this stage and there
are that many more levels to climb so now who is a person or anybody to say
that it's a bubble at this stage when it has already overcome a number of stages
already in the same progression this is just a mathematical visualization for
you to understand if it is a bubble please qualify a statement because it
took time to get to this point and it took a lot of other factors to get to
this point but without considering those factors if somebody says oh it's just a
bubble those are the kind of people who say everything is just a scam well if
everything is just a scam you know what I'm sorry but there is not going to be a
discussion with somebody that insists on being obstinate about it but those who
are slightly more open-minded will begin to see the point in this particular
graphical representation this numerical representation that you know there is a
lot more going for it than just for this bubble to burst at this point now should
you buy and hold this is a big big discussion because a lot of people say
well just buy and hold why do you bother mining Bitcoin why do you bother doing
anything else if it can just buy it and hold it fine well then they have their
reasons we have our reasons not just to buy an hold of course we want to hold
but we don't necessarily want to buy we want to mind that we want to earn it we
want to have it as a reward we want to be given it to us because of a proper
Bitcoin related activity rather than spend the money on it and then just sit
on it right there are two different approaches here so let's have a look at
what this means the top chart as you can see is literally from Google search
trend you can find this yourself at google.com/analytics phille and we'll
give you this particular graph then you can go to another website called Bitcoin
price at 99 bitcoins calm and it will tell you Bitcoin price history if you
compare the two charts literally month by month
okay now this Google trend chart starts in 2012 and this one here starts in
January 13 that's why these lines are diagonal but this initial peak in the
price of Bitcoin the very first peak when it even came on public radar in a
meaningful way coincided over here with that many more people performing an
actual search on Google so this is your evidence and this is your proof in
knowing that when more people start researching it and considering buying it
it's price moves up when those people stop researching it the trend follows
and goes down then there's only a few people remaining here in the middle at
the bottom that continue to access Google for Bitcoin purposes or Bitcoin
related search engine and websites then it went up again and you can see that
graph here it went up again so this literally means the there is a direct
and very close correlation and you can see in the truth is a peak here is a
peak here then that peak comes down here again the peak comes down then there's
another little mountain here it's another little mountain here then it
comes down and stays flat for a very long time it comes down here and stays
relatively flat sort of very long time there are a few bumps and lumps on the
way and closer to the end of sort of December 20
sixteen January 17 that's when this major spike begins that's exactly the
same chart of the Year major spike begins this represents the total number
of extra people than before that are doing a Bitcoin related Google search
which is then reflected in the price so what does that mean they're not just
doing a good bit correlated search they're actually searching for Bitcoin
in order to buy a Bitcoin so this is literally public exposure reflected in
the price you cannot get more purest than this this is the purest way of
looking at it to say that Bitcoin price is directly related to the interest in
the general public this first of all shoots down all those people who say oh
it's just a small group of people that are controlling it and manipulating it
it's a scan and there are some secret organizations that are doing this button
look secret organizations can't get the broad public to do a Bitcoin search on
Google trend trends that you can visibly capture and then match it with the price
this literally means new people coming in imagine a whole you know half of you
open your window hotel window in Mumbai India and just opening a hotel window
one morning and you have five million people outside okay this is this is how
populated some of the parts of the world are now when the trend catches on the
price reflects accordingly when there is greater acceptance even from the
government level and when the government starts deciding okay you know what we're
going to let this happen but we'll try and put some type of control around it
because we're concerned about money laundering and stuff like that at that
point obviously you know Bitcoin gets a little more comfort that okay we can
actually comment your public can actually get into it but knowing in the
back of their minds that you know somebody is watching it's not going to
completely vanish there are just too many millions of people involved in
Bitcoin for it to disappear as somebody say so
in this case why am I talking about this in case of buy-and-hold well allow me to
explain it's very very simple buy and hold people say it's all about the
volatility but before we get into that if I just break from here for a moment
and get back to my screen I'll tell you a little story about my dry cleaner my
dry cleaner just down the road he he doesn't accept Visa cards so I said hey
I have a suggestion for you you take cash it's a pain for me to go find an
ATM machine and then bring the cash for you so why don't you take bitcoins well
I don't know anything about that talk to my son he knows all that so I went there
for a second time found this son and I said hey I had a
suggestion for you that why don't you accept Bitcoin instead it's relatively
cheaper you don't have to pay merchant fees to Visa MasterCard and all the
others why don't you accept Bitcoin and this is whoa don't even mention Bitcoin
to me like why he's like it's all related to crime I'm like how do you
know that I worked in one of the crime investigations and they caught the guy
and froze his bank account and everything was gone for a year and
everything was frozen up for him and he was involved in this crime and you know
the police if they find out that you've got Bitcoin they're gonna shut you down
and I'm thinking are you living in the same England that I live or is this some
kind of a draconian fascist regime where you can't even do things without
government permission are you in sort of Nazi Germany or something you know he
says well you don't know you know what to keep an eye on everything I mean look
at the level of paranoia and the reason I wanted to mention this story is that
he heard about Bitcoin through one criminal investigation now when you get
to this point where every clock in a department somewhere you
fancies themselves could be the head of mi5 you know you have an issue there
because they are clearly misinformed there are millions of people there are
tens of thousands of people right here in the UK on their way to becoming
Bitcoin millionaires and you think they will get shut down why because the UK
government is somehow evil or there's some conspiracy happening you have to
really pick the people I was trying to help him the person was not ready to
even think that a digital currency can exist because you can't do anything
without government permission so I just thought I would throw that story in
there before I carry on with by to hold because I think it's an important
discussion to know that no matter what happens you will come across people who
are petrified of just living in a democracy in a relatively free nation
where you don't have to bribe police officers for speeding fines you know you
get you have to pay a speeding fine you can't bribe them in cash you know so we
live in a relatively comfortable environment why the paranoia I just
don't understand but there are people like that and you can't educate
everybody but you can do your best anyway I'm going to continue sharing in
on with the better thing there we go it should be sharing now so on with what
about this volatility why did we look at those two charts the trend chart and the
matching price chart what's what's the big deal there okay excuse me so let's
Avila the one of the peaks you saw now I'm using the trend chart here to
reflect the price chart because the trend chart is a little less cluttered
if you actually if I just go back if you go to 99 bitcoins calm you will see
there are these little numbers all over the place and these numbers will tell
you the historical events that have taken place which are significant in the
life cycle of Bitcoin priced so far so it will give you a good idea in
assessing what happened when it happened and you'll get a little familiar it's
it's a lot more interesting than reading history
this is the history of Bitcoin but you have a monetary interest in this you
know learning history on its own doesn't actually pay you any money so people
find it boring sometimes but here this is what happened around March 13 2013
it couldn't peaked at around $200 then came and that was in just after the
Cypress bailing so you can imagine the beylin scenario panicking a whole lot of
people who are awakened aware of what the banks are really like and what
they're up to and what they could be doing now here in the remaining g20
nations so that is what forced Bitcoin to pick up so when banks are in trouble
expect good things for Bitcoin but then you know the Cypress been an issue is
kind of brushed under the carpet it didn't go mainstream so many people
don't even know about it so that's when there was a price crash because the peer
of the fear and the panic of an sustained banking issue was not strong
enough to sustain interest in Bitcoin so it crashed it's very normal and you can
check this out in around the region of March 2013 how Bitcoin price correlated
to the Cyprus ballot then when it crashed it stayed fairly flat around 60
65 level it was hovering around there and then something happened the Bank of
China BOC said okay to Bitcoin per se it
didn't like Chinese financial institutions to deal with Bitcoin but it
said it's okay for exchanges to pop up and the public to buy and hold Bitcoin
as an alternative because the Chinese yuan remember is a restricted currency
and the Chinese are suddenly cash rich because of this massive manufacturing
program they have so they have a lot more liquidity they're all driving the
folks wagons all of a sudden when 20 years ago 30 years of where they were
all riding bicycles and that too imported from India so you know if you
if you think it through good news like the Bank of China saying
okay had an immediate price impact it shot up to over a thousand dollars
around December 2013 and that's was the all-time high at that point and then
something interesting happened I won't mention the other peak because that'll
be a very long discussion overall but eventually when it came back down you
know around exactly around two years ago it can actually hovered around two
hundred and sixty four dollars I mean are you thinking you should have picked
up something maybe were you're aware of it and this is why I asked you the
question in the first place are you in Bitcoin because it's got the potential
to make you wealthy or are you in it because of the algorithm because if
you're in it for the algorithm then you've already have bought a lot of
Bitcoin way way back really early when it was as cheap as this but if you're
joining the bandwagon now we are amongst the relatively later adopters of Bitcoin
and then obviously the price went all the way you know flatlined till here and
then around March 2017 towards the end of 2016 it shot up again and we saw the
three thousand dollar peak just a few months ago okay now why am i showing you
this when it comes to volatility this is
volatility good news it goes up fear about something else
this becomes a safety safe haven Cyprus valium is bad news for them so it's good
news for Bitcoin Bank of China saying well done Bitcoin is good news for
Bitcoin it's good news for us when nothing else is happening and it's just
flatlining in the general put it and the whole Bitcoin community is unable to get
massive worldwide acceptance for it it is flatlining for a very very long
time but now something has changed now it has come up to the three thousand
barrier 2000 sort of level and then it's hovering between two and two and a half
thousand to two thousand and this is a sort of new slacklining
level it has found it may not flatline this long but it is hovering within a
reasonable range which is very higher than when it was around $65 just three
years ago compare this to the US inflation figures you can find this at
us scintillation calculator calm you'll be amazed if you put in figures we're
like 1913 to 2017 you'll get something like two thousand four hundred percent
inflation or something but let's just go with 2013 because the previous chart we
discussed could be precise this chart was in the region of January onwards in
2013 so I've gone here for 2013 I'm not going too far back I'm just trying to
keep it relevant to Bitcoin now 2013 to 2017 if you had $100 then in 2017 you're
going to need a hundred and five dollars to buy the same item that would have
cost you $100 just four years ago that is five percent inflation that 5%
inflation means a guaranteed loss a guaranteed loss in your purchasing power
of your dollar what does that mean for Bitcoin but bitcoin is volatile you know
this thing is this straight line going down it is not going up this inflation
and a lot of the inflation figures are very nicely cooked but the reality is
when you go to the petrol station your gas station when you go to buy your
daily groceries and if you go to book the same holiday the same vacation
package that you booked five years ago exactly the same thing you will notice
way more than 5% inflation in there and that's not just because of increased
demand from other people it is also because everybody is raising their
prices same thing if you go to for example 20 years ago if you went to the
Czech Republic people used to say how absolutely
everything is dirt cheap it's amazing contain Czech crona's which is you know
nothing and now you go there and all your prices
drag and other cities of Czech Republic are basically the same price as zero and
they don't even use euros but they've got so many you know customers coming in
you know travelers and visitors coming in but the price is exactly the same so
what does that inflation mean to the local Czech person it's much higher than
just five percent per year right but we don't get to see it unless you're
carefully measuring how you measure it so which is better
a volatile shift caught in a storm or the shit guaranteed to sink and this is
what's happening with the dollar this is 100-year chart wave from 1913 to
about 2013 when our Bitcoin our Bitcoin story starts but kind of a little older
than that but our story starts 2013 onwards looking at the charts this
Bitcoin story this dollar story here is a hundred years prior to that and you
have almost a guaranteed slide in the purchasing power of the dollar and if
you paid attention to what a hundred million dollar Bitcoin should look like
if you looked at that graphic just a few minutes ago you will begin to realize
that that is one thing that is proportionately on the way up the dollar
is a sinking ship it's better to be caught in a volatile
ship that to be in a sinking ship and this is why you know it's fancy lee
mentioned here USD asset value purchasing power in the redline what it
really means is extra cash floating around in the economy which is diluting
its purchasing power the more of money they print and float around in the
economy the less it is worth in its ability to buy the same thing so the
chart you looked at earlier the hundred-year chart for the dollar is the
actual purchasing power of the dollar that is on the decline and on the other
hand the availability of dollar in the market is on its way up now this is a
chart that should be of interest to absolutely every single person that
earns dollars with to network marketing or whether you do
it to a job or whether you have a regular business you must understand
what this chart is doing to you because you think you may be earning more
dollars but you're learning more and more of worthless paper which is why we
have this business model of gold silver at cryptocurrency
which is a solution and I hope these charts are a would give you some clarity
on why bitcoin is actually a hedge of protection against inflation as much as
it is an opportunity to a transform your work using just a little bit of Bitcoin
you don't have to put all your eggs in one basket 5 to 10% of your total wealth
in gold and silver would be ideal and then on top of that whatever you deem
suitable in taking a risk with Bitcoin that should be ideal so should you buy
and hold a mine Bitcoin you haven't yet fully addressed that issue happy but I
just want to tell you another little story and that's the hairdresser now who
is this hairdresser let me show you this haircut was given to me by my
hairdresser and today and I just quickly added that into the presentation today
and I thought you know I was talking to her and I said have you heard of Bitcoin
so what do you do you know as you know either the small talk don't you like you
know you've been holiday that kind of thing so I said no not yet I'm too busy
developing my business and I'm at home I really need a break we're going soon on
a short break but you know we started talking I told her about different units
or what has happened I said well let's put it this way right if you put 400
pound in the bank 18 months ago how much would you have today she liked 400 and
maybe a little bit of interest that's it okay if you put 400 in Bitcoin eighteen
months ago how much do you think you'd have today she like I don't know 500 no
over 2,000 so like what ha how do you do that I took out my
mobile phone I open my coinbase and I show them Bitcoin aetherium light
gray see like also what how does this work
it's a do one thing come on this hangout if possible if not I have a whole
youtube channel there's a whole bunch in there for your own interest for your own
interest just open a free wallet with for Bitcoin with coinbase I suggest
coinbase for now you can switch later on anyway and see what 50 pound or 50
dollars will do for you over a few weeks you'll easily make spend the same $50
somewhere else anyway and she agreed she has children also she they asked for so
many things toys that they don't even play with anymore you know
yes sir exactly right yep spending on plastic that ends up you know in a skip
eventually try this surely this might be worth saving a
little for your children in case they when they had the 18 when the you know
university levels or whatever they might have something that could have
transformed their lives down the line but because of your foresight it took
the action to do it I've never heard of this before how come and that's the
point I want to make towards the end of this presentation why is the public
unaware of this why are why is there such a slow mass adoption to it and
we'll get to that in a brief moment but I'll just get back my hairdresser now
probably already has a crime this one of the country was so interested in it I
don't think it was right for me to tell her about the mining just yet but I told
her I'm involved at the very creation of Bitcoin and when that is created I get a
little reward and I have a whole team and everybody some of my team members
are making a lot more than I am making because the more you put into the
production facility the greater is your little share that you get and that share
that you get can exceed an average you kiss elevator
she said are you serious I'm like yes but you have to invest right so if
you're willing to do that that's great it's not don't worry just start with
opening a wallet for your own sake and see what happens this is just an
ordinary conversation and I did not want to sell her any business model I did not
want to make her an affiliate I did not want to have to open a free account or
anything just open your mind to Bitcoin she is down the road like three or four
doors down from the same dry cleaner anti Bitcoin and this person who'd never
heard of it and suddenly opened up their mind amazing so back to my little
presentation if if that's okay so this is what happened
the Bitcoin just recently and this is why those who say buy and hold have a
small point and those who say you should mine will face with some opposition
saying no you shouldn't mine and this is where the discussion should be and this
is why this may be a good video to share with it
Bitcoin mining was incredibly profitable between 2013 and 2014 and some people
were doing it very successfully excuse me at that point the Bitcoin miners many
of them set up these little machines at home Network basic processes and they
were mining Bitcoin at home and everything was going well
some others went and bought cloud contracts cloud mining contracts to
companies like Genesis directly but then as you saw from that earlier chart I
showed you there was a period of time when Bitcoin actually flatlined
completely all this time but at the same time the number of people joining the
mining pool went on increasing so more rewards working being paid out for new
miners joining so that meant the difficulty also known as a networked
cash rate the number of calculations taking place to find the next
Bitcoin block was basically going up and up and up more or less in a straight
line you will notice that the hash rate actually drops every now and then so
it's not a straight line it is also quite variable but the general trend is
going up and this is the argument of buy to hold or buy and hold investors
against the miners and it is a fact that around 2015-2016 period at towards the
end of 2015 at the beginning of 2016 Bitcoin mining was actually unprofitable
so those who purchased cloud mining contract and way back here
found their contracts to be running out of power here and the contracts going to
be cancelled now we have to bear things in mind here there was a lot of private
miners and when they became unprofitable and booked the loss they just tried to
flog the equipment on eBay and other such sites and recover whatever money
they could recover and they had their Bitcoin but they didn't necessarily keep
the a Bitcoin and I want to get to that point also so in the end it goes the
loss making proposition for a whole lot of people and they didn't tell anybody
they're probably too embarrassed to tell anybody that I tried it but it didn't
work for me maybe amongst friends but not necessarily all over social media
but those who purchase contracts from a company like Genesis mining found a
perfect opportunity to slag Genesis mining off in the public domain because
this is a major company you can write a review on them you can go to a blog and
talk about them you can say whatever you want and then the reader has to actually
go and verify is it true or not okay but something happened towards the
middle of 2016 Bitcoin price started moving up and it
didn't just move up it actually outpaced significantly the price of Bitcoin when
bit reapz $3,000
the algorithm or the difficulty rate was sufficiently low to get a mining return
of annually a hundred and forty cent that is phenomenal returns hundred and
forty percent we would have recovered your mining contract value paid out to
you in bitcoins in under one year easily in about three-quarters of a year okay
so it was amazing to see how quickly the price can actually outstrip the
difficulty rate itself and this is why if you are a believer that Bitcoin price
should constantly climb you will automatically be a miner if you are a
believer that bitcoin price will crash then you must be thinking like a
buy-and-hold type of person why because what does buy-and-hold mean by at any
price or does it mean by at the dips so if by the tips they're expecting a dip
obviously right so this is what happens this is what I wanted to show you why
even the miners actually sold out in the period of time here and this chart above
here is from January 13 through to December 13 so two years covered in here
and on August when the current started taking off really August 2013 this is
now two years ago it went up 900 percent how amazing is that that means a whole
bunch of people got in there really quick because in a world this is
changing our lives let's get on the bandwagon but this still wasn't enough
social media exposure that still weren't enough people aware of it because the
mass media was most certainly not promoting between except for a few adult
articles here and there and a fews bit of CNN coverage in fact the other media
like Russia Today and the eastern media including al-jazeera for example those
guys were reporting a lot more on it and your average CNN Bloomberg TV and
you know BBC etcetera but they were also having to report because it is a
phenomenon to be reckoned with now look what happened here I just want
to identify one little oops one little a period of time here this is
in around the December 13 Bank of China ban on financial institutions holding
Bikram they didn't ban Bitcoin they were okay with Bitcoin
so when Bitcoin peaked around here there was a lot of people that went in great
here you're looking at paying around twelve hundred dollars per Bitcoin yeah
when you paid $1200 per Bitcoin just a few weeks later it took a 50% nosedive
in a single day right so you're 1200 is now looking like 600 now when you're
1200 within days is looking like 600 what are you thinking that it could go
down to zero now would you want to save the remaining
600 or not all are you happy for it to go down to zero that will really test
how you approach Bitcoin and what you think of it because if you're thinking
that this could go down all the way to zero I might as well get my 600 out it's
okay that I've lost 600 Shane but I want to save the remaining 600 I can't afford
to lose this money that means you are a panic seller guess what happens when you
panic sold if you're in that category somebody snapped it up and it went right
back up that is demand and supply ladies and gentlemen very simply explained
demand and supply you're looking at nine hundred percent gain on the one side
which attracted everybody's attention including those who didn't have enough
money to lose they got in and when it crashed the lost
and then they panic sold and many probably didn't even return again so
this is what happens if you are going to wait for a dip do you really know what a
dip is do you really really know when to identify the right dip in which to buy
surely now that we have in such fantastic profitable territory for
Bitcoin mining why not just do the mining instead this is the argument on
behalf of the miners on behalf of the buy-and-hold well well done but if
you've exhausted all your gunpowder up here you've got none left to buy at the
bit have you in fact you'll be selling to save what
little bit you put in there in the first place that is a trading mindset not a
saving mindset excuse me so just to recap buy and hold those who talk about
it they're not looking for an income they're looking to buy something and
wait for it to go up in price they are interested in the capital gains aspect
not in the daily income aspect so they're clearly not income seekers why
argue with people who are looking for something totally different than you you
both may be involved in Bitcoin but why would you debate with somebody who's not
in the same boat for the same reason as you you're both on the same boat but not
for the same reason you may want to just cross over to the other side they're
just there for the ride so depends how you look at it right they are definitely
not savers and accumulated because an accumulator would want to have more and
more and more which is what the daily fractional payment of Bitcoin rewards
represents every day get little by little by little you're constantly
accumulating and reinvesting ketubah lating and reinvesting if you're
compounding even if you're just not compounding you just gaily simply
collecting the fractions and you're happy buy-and-hold can't be an
accumulator because they spend all your money on just buying them to sit on it
they're not accumulating then you have to wait you don't know when the next dip
is gonna come or even if it comes you may have missed it you don't necessarily
know what to get a nap because it's all open
territory it's all so new that nobody really knows at what level next the cut
is going to stabilize we don't know we don't know how high it will go and then
crash again and then stabilize a little bit and then go higher and then crash
again and stabilize a little bit we don't know so how can you be an
accumulator when you're really not interested in gathering more and more
Bitcoin instead you're just exhausting all your resources on buying and holding
and then it's theoretically speaking gathering dust okay they're not
necessarily bit to an expert either just because somebody's learned a few trades
here and there does not make anybody a Bitcoin expert in fact those who are
Bitcoin experts aren't really fully bit clinics but except that they were early
and took interest and made an academic study of it got a good understanding of
it and became experts so if you want to become a beacon expert the field is open
you know the world is not limited to just a handful of people that talk about
Bitcoin I am learning as I go along so will you it's very straight forward
but that doesn't mean you need to listen to buy-and-hold type of investors
because they are not necessarily be expert to listen to in the first place
now these people may have been burnt in mining with the example shown there was
a period of time when Bitcoin mining contracts were unprofitable and people
took their frustration out on various web sites that is no longer the case we
have proof through hundreds and hundreds of members who are profitably mining
since November last year and many have more than recovered the original seed
capital already okay by an old people are not confident in price growth I'll
explain that in a moment and they're not necessarily suitable for debating right
like I said you know why would you debate a person who's got a totally
different mindset to it you know some people prefer Ponzi's because it's
easier to attract a lot of gullible people and take money and then let it
collapse you know that doesn't mean you know you have to be like that but if
you're inquired in that direction then that's your choice
but then most people who want to put serious amounts of money in a decent
business that is legitimate and has proven its track record it has very real
production facilities that you can even visit with prior appointment and of
course if you want to deal with serious honest people you don't want to be
debating with time wasters frankly right you know let's face it buy-and-hold have
limited resources it's got unlimited resources they
wouldn't care what level they're getting into because you fundamentally believe
in Bitcoin going up in price it doesn't matter what level you get into because
you're still at the baby stages that was the very first page I showed you with
those numbers of what the real potential is going forward for Bitcoin and
numerically and you know even if you got in at three thousand level but it's only
a temporary loss you face right now when it's hovering around 2600 but you
know if it's going to go to ten thousand even entering at three thousand is a
piece of cake surely so people of limited means will
tend to buy and hold will exhaust your resources and then there were no
necessarily what you do next this is the hypocrisy I wanted to talk about
buy-and-hold buyer wants the price to go down so they can buy it on dips but then
they want the price to go up because they also want to profit that's why they
bought some in the first place that they want the price to go down again when you
know they have enough dollars saved up somewhere else through their jobs or
whatever and in order to buy more and then they wanted to go up again because
they want the portion that they recently bought to show a profit as quickly as
possible so they wanted to go up and down and up and down and up and down if
you're a minor you only want it to go up you don't even
want it to go down to you if you are a Bitcoin believer if you're a Bitcoin
fanatic if you're a Bitcoin enthusiast that understands the total potential and
what else is going on around the world in the world of economics
you don't ever want Bitcoin to go down but who are these up up and down people
they're the ones who book profit crash it
some of them dump it some of them you know push the market as much as they can
and pull it down as much as they can people trying to play around with it and
manipulate it everything that's wrong in humanity is reflected by that mindset
and they do I have told you you know you can disagree with me I'm happy with that
no problem but this is my opinion because if you're a minor the higher the
price the greater is your mining return surely it's a good thing and for the by
to hold investor that is also a good thing except they would have missed out
and buying more but they can only buy more if it actually dips and it gives
them some time to save up some dollars so they are the ones that are not really
very confident about Bitcoin constantly going up in price that's the difference
between a minor and the buy to avoid mindset what happened then 2015 2016
2017 just four aspects there are hundreds of others 99 bit queer INSCOM
is a fantastic website have a look you see the whole history of each of the
events but basically was China really relaxed and chilled out about Bitcoin
and 2015 and not so much you know they approved it they're ok with it then they
throws a couple of exchanges and that panic to the Bitcoin people a little bit
and the Chinese only said look we want kyc we want to know who the people are
that are buying on these exchanges because you know we don't want other
outside elements coming in here and messing around with the economy and this
is happening on our territory because we can't allow this
so China wasn't so relaxed in 2015 but 2016 they opened up a little and now
they're even more enthusiastic they're trying to put a greater systems and
better systems in place for all the Bitcoin and crypto graphic community
generally speaking in Japan that wasn't an officially recognized currency by
2016 it became an officially recognized currency at par with the basket of
credible currencies in Tokyo exchange so you
if you're beaming in Tokyo Forex exchange you can treat Bitcoin like any
other currency now that has some significant potential and in 2017 they
are further enhancing the acceptance by encouraging major retailers 230,000
something retailers to start accepting Bitcoin and displaying on their windows
Bitcoin accepted here is that a difference from 2015 to 2017 or not
Australia even till 2016 there are still mulling coming and eyeing about it but
good on them Aussies they finally came around in 2017 they have made a proper
official tax structure around it coin they want to know they want the public
to know that it's okay to go ahead but you will be paying your dues over a
period of time and there are trying to stop it at all now in 2015 2016 Bitcoin
on its own did not have a 60 billion market cap in 2017 it has reached that
it's a milestone 60 billion is only the bit red portion the remaining 40 billion
other remaining cryptocurrencies which we add the two together you're looking
at a hundred billion this was not the case two years ago so when Bitcoin was
languishing in the territory where Bitcoin mining was unprofitable then at
that point the market cap was measurably reasonably small now it's completely
different it's taking everybody by surprise is greater acceptance if this
is the case of 2017 then I believe 2018 should look even better especially
anytime there's panic in the regular banking market expect more people to
open their minds to Bitcoin are you ready an Iowan position to see
that happen that's your choice so why do people fear or resist or downplay
Bitcoin it's very very simple you know here in the middle of the this triangle
here you've got the Pioneers there are the very top there
pinnacle the other ones who were the early early adopters they were the ones
to devise even conceptualize things like how the doctrine would work out and pan
out not just the inventor or creator of
Bitcoin itself but he alone wasn't enough he circulated a white paper it
got some kind of very high levels of interest from others and they said look
we should do this and you know in true correspondence online to people all
across the world some in California some in some earlier doctors were involved in
Australia already and you know it took off from there but they were the
pioneers then came the max leaders these are the
people who built a whole cryptocurrency ecosystem around it I would not call the
tally Vitalik booter and the creator of
etherium i would not call him the pioneer just yet because he literally
borrowed the idea but he's a mass leader because he's basically led a new
revolution on the back of what the pine was started he learned from Bitcoin and
did something slightly better slightly different it's not taken off as much yet
but it certainly has a great potential although it has its flaws it has had a
number of issues but it still is a genius idea and that is just one example
deliver marketing the market mass leaders and then come the newcomers I
would put myself in this category I'm an awake relative newcomer to this
phenomenon in 2012 when I was sitting in my office in one of the London banks I
hated that coin with a passion I thought oh what a bunch of Muppets but now it's
changed and the rest of the public that has yet to cross this red line which is
the mass adoption barrier generally media influenced if the media turned
around and said have you considered Bitcoin there's no harm holding a few is
there would you consider doing that if they did that why would the pub the
public would react immediately but because the media doesn't necessarily
tell them the media isn't necessarily pushing it in fact the media is always
almost trying to paint a negative picture of the time the mass influence
is yet to catch on but then this is where we come in we are awake and we're
spreading the awareness the same applies to any other system a specialist knows
his stuff he has an apprentice the learner and then there are others who
are inquiring into the business and the rest are what you call muggles
they can see everything in plain sight and still they don't know what's going
on now it would be unfair to call the masses muggles simply because some
people are more aware of what is going on financially economically in the
banking world with the beylin scenarios and all the legislations in place it
requires education and unfortunately education is relatively easy to give it
is not easy for people to receive because it requires effort now what
would you rather do put your feet up a crack open a bottle of bubbly or
something and then watch a nice little program and relax after long day's work
or would you get in front of a computer yet again after a day in the office and
try and learn yet again something extra in order to improve your life there are
relatively less number of people that are willing to do that there are greater
number of people that would rather invest their spare time in pleasure and
therefore you know I'm not get arbitrarily calling them muggles but I'm
saying that everything is in plain sight but they still won't see it because
they're certain synapses haven't clicked yet now the same thing apart I mean it's
exactly the same thing I'm not going to repeat myself but I'll just go on to the
next one this is where the misinformation comes from this is the
head of the IMF and the Davos meeting recently she said bitcoin is for
criminals imagine that coming from the super criminals that the I met
themselves lie and I'm saying that with the reason because the IMF has been
there for donkey's years the World Bank has been there for donkey's years
they're seeing crisis the crisis after crisis none of the
debt-laden third-world countries that they were
called or you know the poorer nations they're still in bed nothing's really
improved so what are you doing exactly what are these supranational United
Nations level tentacles what has they actually accomplished can anyone tell me
what have they accomplished that has really changed the lives of people other
than small little projects here and there which are nice or window dressing
but the warehouse is empty the world is going bankrupt
you know almost like going to hell in a handbasket so this is what it is now to
end this I'll tell you the last of my stories which is about the radio host
thanks to our balloon what I was recently invited to one of the radio
stations in the United Kingdom and the radio presenter lovely lady she had a
person who you know I was told and Bill told me that they want to know more for
the audience for the radio audience they want to know more about what is this
bitcoin saying and what are you doing exactly what gold silver bit 100 but
they want to explore and educate the public about it which is great and you
know I accepted so I went down there and we both suck in front of the mic and
this other person who was there who were supposed to know a few things about
finance he started asking questions and absolutely
every stage he was cutting Bitcoin to pieces and saying but it could be this
but it could be that it could be the other and I said then you know after
later so what are you doing is it hard displaying devil's advocate these are
the kind of people that destroyed an entire prosperous Empire yeah idiots I'm
sorry but idiot complete total utter idiot who told you to play devil's
advocate you invite people onto a radio talk show to educate your audience and
instead of educating them what you're doing is you're helping plant seeds now
thankfully for every problem and every challenge he threw I had an
answer in fact I had a better answer that he could have comprehended okay I
was able to tackle him at that point very easily I would have wiped the floor
with him if I only had the chance if the radio regulator wasn't listening in and
they weren't under fear of you know the conversation being appearing to be
against the state of something what are we living in this is not Nazi Germany is
it is this why we supposedly won the war to pretend as if we are living in some
kind of oppressive government anyway I'm just playing the devil's advocate this
the motivation behind the person is often the problem when you approach the
issue with this is a phenomenon it is taking place it exists there are people
involved in it millions and somehow waxing lyrical some are a little
skeptical no problem it's literally skeptical ask questions ask
demand questions and expect to have answers for those questions be satisfied
to a point where you're comfortable with the answers until another doubt comes up
and then keep exploring its eternal kyvan the Japanese Kaizen is the process
of learning to keep learning keep exploring no problem but to play devil's
advocate for sake of being a smartass forgive my language that is what
bankrupt summation that kind of an attitude that kind of a complete
busybody pencil-pushing type of an attitude is
what holds back that is what you call a philosophical red tape you know just
adding layers of thoughts too for no reason just because you have so much
self-importance about it guys next time when we have an opportunity on next
Wednesday exactly the same time I hope you can join us I want to cover all the
other companies there are companies I'm going to name them including their
owners whoever they are and I'm going to go step by
step about what the packages cost what the fees for the packages are how the
income is generated where the level of transparency is I'm going to cover all
of them if you'd like to share this video with people who talk about
buy-and-hold type of a discussion and where the skepticism and doubt come from
I mean the government of Australia is you know literally legalized Bitcoin the
government of Australia so I'm not really going to listen to my dry cleaner
am i he does laundering of other people's dirty clothes and he's worried
about money laundering through Bitcoin all the crimes in the world have already
been done under the dollar so I have no reason to spread that kind of negativity
which is baseless and meaningless now this is a shop that doesn't even use
Visa cards because they don't want to be connected electronically to anything so
they can remain in the laundry business but then you have the hairdresser type
of person who's like this if this is something I can look into you know in my
own small little modest way I can explore this idea and I will pursue this
idea it may be of interest to me I'm open to it two contrasting people two
stories today and the radio host show is what represents the mass media so I hope
I've given you a overall picture bill I don't know if the timing questions or
anything happening in the chat section please let me know and I think we'll end
after this review and then hopefully I can see we can both see you next
Wednesday when we'll cover all the other companies all right this so bill
anything yeah there's no questions I think the
main thing coming for is the quality of presentation to compress by the way
today's content and delivery we need to be a professional anyway but I think
it's so it's awesome presentation for everyone's maybe happy what you say and
it wasn't Italy so guys if it is good I panic before whatever the quality of
presentation whatever done well pitmasters you've done one of these and
everyone's seen it you could foil it in this sort of mode so
what we're talking about yet also a lot has come a lot of waters shredding the
food since realized in one of these yeah there's no law and change a lot of
excitement and obviously we've seen the CEO up front and personal yeah I had our
first UK conference and we've got number one coming to ten that what we can
actually pin the dates down and if you want to see there so it's all good I
think this just from a huge year for us huger well it already is shaping up and
guys this is all thanks to the team's effort because look I alone can't do
anything okay so I have a small group of people originally we started with and
then that gradually grew and now they're gathering momentum we are trending on
social media which is a great thing just don't give up on the momentum because
what's going to happen is you are still getting paid when other opportunities
come and go and come and go and come and go you are still getting paid and you
are constantly there this is what changes even the skeptics and they will
come they will come they're watching you that they're keeping an eye on you
they're watching you earn and especially if it's positive they will come okay so
keep up the momentum guys don't get disheartened by a few events here and
there but generally speaking it's going to get better now about the September
event really quickly we can't really put a date down yet I would really love to
have already done the enquiries I found out the venue's there are some lovely
venues and I'm even getting a good package deal for those of you that may
be traveling from a little further away even if you're flying in from abroad you
know we'll find a good deal with maybe some rooms attached so if you want to do
early book and get yourself at night stay and maybe even tour London while
you're there we try and keep it in London it's going to be a little more
pricey than the last one obviously not pricey to be honest but you know we'll
take care of all of that the reason I don't have a date yet is because what I
would really like in this conference is for you to be able to say there's a pop
guy from the top company in the Bitcoin mining community who's
going to be standing there and delivering a talk for you if you can say
that I don't want to know I don't know yet who it could be but I'm trying to
arrange it so allow me some time we don't have a date yet
I appreciate some of you will need to take a day off for the conference but
then most likely be over the weekend I am willing to pay for the a slightly
extra premium over a weekend but then a weekend is also a time when people are
generally more free with their time to travel and you can use either the same
day or the latter day on either side of the event to maybe do some tourist
business or some shopping or whatever you know so we can try and make this in
a good event again I want to keep the cost to you as low as possible but we
will have some options for you know if you wanted you know lunch included or
something like that there may be a VIP level with some additional benefits in
there or something like that we haven't figured it out completely yet
but what I'm really waiting for us I want a world class authority on precious
metals not necessarily related to the business and that's important because
here now you have a neutral person that has no financial interest necessarily in
delivering via talk to you for any personal gain they are here to tell you
why we are doing the business in the first place and then if you have a top
authority covering the cryptocurrency angle then if we can have just the names
of the speakers that should be the driving force for you to gather a
significant number of people attending it's going to be a much larger
conference I've already got the pull up stat and you know hopefully it'll be
good but guys if this is if this is a you know generally of interest to you
next time I want to break it down for you because I have been involved in a
couple of scams before myself and I got taken for a ride I got suckered in
because you know when I was chatting to the CCO of one of those cabs
I asked him where does your bold mining operation and he mentioned was Becca's
plan I'm like oh wow because I know is Becky Stein is a major
gold producer which is formerly Soviet Union but now an independent nation so
he answered all my questions off the back and he was live chatting and I said
so what's your second operation you mentioned also carry an agent I mean you
know Elsa Carly here okay yeah we have a small mining spec in there and then okay
so what's the mining operation like you know we're subcontractors okay so what
do you do blah blah blah he answered absolutely everything so I
thought it was a real business it was a Ponzi now I am so weary of this because
there are a few people that really got hurt a few people that really got burnt
because of my involvement in it and I led them into something that was doomed
yeah and frankly speaking the every time I think about it I am personally
heartbroken that I led other people you know it's building up other people's
hopes and then letting them down it's not so easy to say oh we all take risk
you know online business is always risky this is what scammers say ya know a
proper registered properly constituted company is not the kind of risk the risk
is the job and the risk is following a leader who will tell you just about
anything for sake of commissions and that is where I want to be personally
very very careful so this is why you know the idea is we lead we try to lead
with value this video is for you to show to anybody that starts arguing about
buy-and-hold you know starts arguing about bitcoin being a bubble start
arguing about you know skepticism around bubble yeah I'm not sure show that this
and we will have a lot more of these I want to do these more regularly you know
if you guys are really up for it then let's do it properly all right but thank
you very much guys for being here for staying so long it's just over an hour
and I want to thank Bill Wilmot for engaging you all and thank you very much
and good night
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