Wednesday , December 18 2024
Home / Video / This Bitcoin thing is serious.

This Bitcoin thing is serious.

Summary:
And I don’t necessarily mean in a good way.

Topics:
Mike Norman considers the following as important:

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And I don’t necessarily mean in a good way.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

28 comments

  1. @nicholasgomez2485

    Are you still happy with your vote? No buyer’s remorse?

  2. The way Drumpf, "crypto" and things are, he will either fork it, or cause another fork or 2.
    The finite resource part is the cause for this thought.
    Forks are overall bearish for the "crypto" market, but BTC will most probably remain higher than it is now.
    Goldman Sachs is already in it, in addition to what you said, so Drumpf will probably implement some new bitcoin standard.
    edit: check.

  3. Please read a book on bitcoin….recommend “Blockchain Explained: Your Ultimate Guide to the Tokenization of Finance” and “Broken Money: Why Our Financial System is Failing Us and How We Can Make it Better”

  4. I still believe bitcoin was an NSA project to attract hot money in foreign countries.

  5. 11:35 they printing money!!

    • A compelling loop. Thank you. I think I might be autistic. I spent a minute looping that clip and it brought me great joy🙏 I'm gonna do it again

  6. What about Tesla?

  7. @homeyoutubechannel6609

    ❤ ur statements. U know when u stop ….

  8. Thanks for telling it like it is. I’m signing up today bro

  9. @Mr.PhatsVarietyVibesShow

    oy vey the Orange Man sold us out to the bitcoin mining Bitcoin industry the Bitcoin industry & Musk bought the white house! Orange Man sold us out.. what do we expect from NY Fraud.
    I predict Bitcoin will lead to another massive 2008 crash when the Big wigs decide to sell..
    Orange man. should have never won..

  10. Don't believe the pump and Trump hype. Approximately half of confiscated Bitcon "reserves" are liable to be reimbursed, leaving only one-half of one percent of total supply. Trump needs to pump crypto to repay oligarchs that bought him the presidency. They need the Ponzi scheme to continue a bit longer because all publicly traded miners are burning money: even at $100k, their cost curve is at $120-150K if hardware depreciation is properly accounted and they would not survive halving.

    Refer to "How Will Trump Impact Bitcoin Miners?" -Broken Business Models

  11. Oh yea…..the trump show is beginning

  12. They printing money…nope. now it's
    They digging up coins

  13. I see enormous value in the concept of cryptocurrency. But I think most of the value is enabling transactions between people. This is how I use it. I don't see much value in using it as a store of value because it's value is in enabling transactions. I also value it for the disintermediation of payment providers who charge 5c every time I buy a loaf of bread. Crypto is more like 0.0005 cents

    If I were in charge of a country, I'd create a national cryptocurrency designed with the privacy and anonymity of cash. It would not be finite. And it would not need to be mined. It would be printed into existence using a digital printing press – or in lay terms, a 'computerized keyboard'

  14. 6:45 You say that there are not enough bitcoin to go around, but it's divisible. Thus, if all the circulating supply of 19m bitcoin were distributed equally between the global population (ie 8 billion), each person would get 237,500 satoshis. So, it's not like gold in that sense. Do you think this makes a difference to your argument?

  15. @FrederickB.Harvey

    GLORY!!!'m favoured, $140K every 3weeks! And am retired i can now give back to the locals in my community and also support God's work and the church. God bless America 🇺🇸 ❤️

    • Hello, how do you achieve such biweekly returns? As a single parent i haven't been able to get my own house due to financial struggles, but my faith in God remains strong.

    • Excuse me for real?,how is that
      possible I have struggling
      financially, how was that possible?

    • @FrederickB.Harvey

      Thanks to my co-worker whom God used to give a great opportunity of crossing paths with 'Mrs ELIZABETH ANN LARSON'.

    • @MaryDouglas-oh4od

      YES!!! That's exactly her name (Elizabeth Ann Larson) so many people have recommended highly about her and am just starting with her 😊 from Brisbane Australia🇦🇺

    • I have heard a lot of wonderful things about Elizabeth Ann on the news but didn't believe it until now. I'm definitely trying her out

  16. BITCOIN THE BIGGEST PONZI SCHEME IN HISTORY PERIOD

  17. Bitcoin will suck up capital from all other assets. Like a financial black hole. A speculative orgy. Huge swings. When it does blow up it will be historic.

  18. The USA should have bitcoin for the same reason IT holds gold, silver and others commodities. The dollar will not be replaced by bitcoin. Even Jerome Powell said bitcoin îs not a threat to the dollar.

  19. I see the analogy to an extent with the tulips, however, tulips were not a new technology that benefitted humanity, the economy, etc. That doesn't mean it cant end in the same calamity, however. Time will tell. But, I think the issue here is you have ponzis built on top of ponzis because the ultimate ponzi is fiat and people are tired of getting hosed with inflation, so we are forced to invest in tulips (bitcoin).

  20. @blackbeardgoatjr2434

    Stock up on metals like brass and lead

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