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38 comments

  1. Hey folks! Thanks for watching this morning, so what do you think about Cryptocurrency now that I've shared my take on it? Share your thoughts below, I'd love to hear them.
    For more talk on Cryptocurrency, follow my podcast, we're hosting an expert and believer on the subject next week: http://bit.ly/2hZftAp

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  2. Thank you Phil, for this right on time video about cryptocurrencies. I understand it better now that I can see them as trading currencies on the Forex. I guess what keeps me away from this, except that I consider it pure speculation for now at least, is that it's new and as history has shown many many times in the financial markets, fads can bring unsuspected fall of price and terrible downturns. Maybe I'm wrong, but I'd rather stick to history lessons and let the future unfold the truth. Going back to my Rule 1 investments 🙂 Thanks again. It brings light on the subject.

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  3. Hi Phil!
    I get your emails contantly and I just have to say, this is by far one of my favorite videos. I love Investing content. I have invested a bit on bitcoin but I’m glad I watched this video because you’re absolutely right. 
    I am excited about Bitcoin and the potential evolution of it. Whether it rises or falls I’m here to enjoy the ride and I’m not putting so much money in it, at least not yet.
    🙂
    Please keep updating us.
    -Cindy

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  6. The price of Bitcoin is determined by how many people are buying up and selling the circulating supply. So it's not really the same thing as gold because gold can pretty much be found around the world and there can be new gold supply unlike with Bitcoin. Bitcoin's circulating supply is at 16.6M, and just as an example, if someone buys up all the supply of Bitcoin and never sells any of it then that would lead to Bitcoin being unobtainable and the price of Bitcoin would skyrocket.

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  7. Can cryptocurrencies be cashed out? I am only curious about the mechanics of cryptocurrencies. If they are potential source of investment, why not?

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  8. Then, why millions of people are investing in fraudelent digital currencies? How come the goverment allows fraudelent digital currencies to be available in the market?

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  9. I am just starting to read up on cryptocurrencies so bare with me if this question isn't accurate. From what I read most of the currencies are not governed by anyone. So what about investing in a company like Ripple? A company that has a leadership and an ultimate plan. Now I know that it doesn't have 10 years and I wouldn't call it investing but is something like this, where a company is trading for a low price, worth treating like a lottery ticket and throwing a few hundred dollars at?

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  10. You're courageous in staking a position on a controversial subject, especially when you make your livelihood in this general area. ALso, what you say in this video is what I arrived at myself. On one hand, the masses of small retail investors like me ought not chase bitcoin. On the other hand, I do think that over a longer timeline, currencies issued by various governments or private corporations (in the case of USA) will ultimately be replaced by some new medium of exchange….presently blockchain seems a viable candidate…or who knows….something else even better may emerge.

    I really appreciate what I got out of your Peachtree City presentation late Feb 2017. It gave me resolve to actually start trading, which has gone pretty well so far. OPtions – not rich enough for stocks yet. tastyworks!

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  11. This guy looks high as fuck

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  12. Jamie Diamond does have some of his staff in Bitcoin, so he isn't telling everything

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  13. Great video, so glad I discovered this channel

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  14. But JP Morgan was caught being affiliated with bitcoin and block chain tech after bashing it only to "buy low"

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  15. the downside is zero but the upside is 100 to 1000x. bitcoin is 100billion market cap today. Global M1,2,and 3 are at about 100Trillion. Bitcoin is the internet of money. right now it has scaling issues but those issues will be resolved in a few years and it will be king. It has the largest, safest most decentralized network of all the crypto's. Micropayments costing virtually nothing will be the future of it and smart contracts as well. Banning this will only push it into black markets or trading will go to places like Japan or Sweden which are embracing it. The utility of the network is what is creating its value.

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  16. Hey Phil what are you thoughts on Mike Novogratz and his moves in Crypto and his comments on Jamie Dimon?

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  17. Hey Phil, you're timing is insane. My son and I were just talking about this. And you're video shows up in my e-mail. I agree wholeheartedly with your evaluation of Cryptocurrency. Of course, if I had money to lose I might roll the dice on Bitcoin, but that would be a huge violation of Rule #, right?

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  18. Good overview Phil. Interesting to hear Jamie Demon says it's fraudulent. I'd argue that he's a fraud and it directly competes with his criminal business model. China banned Bitcoin exchanges briefly so they could regulate them, not Bitcoin itself, however the price did drop considerably before it climbed back to a $7500 all time high. Nobody stopped using Bitcoin itself in China. I view Bitcoin as a store of wealth like gold for when the dollar collapses, as fiat will go to zero, and its characteristics make it almost like gold 2.0. There are other cryptocurrencies that work better as a currency like Litecoin and iota. Up over 1000% in the cryptofolio per year for the last 4/5 years however I'm holding for the underlying decentralized currencies as I believe soon people will take them seriously and they'll be viable to use day to day. Still have about 30% put aside for selling rule one puts though!

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  19. Great gold analogy. True value must exceed beyond buzz & promotions. Will be interesting to see if crytocurrency can take root with systems and support within a infrastruture that can withstand the season of excitement. Appreciate your in put Phil.

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  20. Nose scratching means lying. Smart move 🙂

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  21. Too hard to understand. Too many variables.

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  22. Thanks for the explanation, now I understand.

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  23. Governments don't like thieves, unless….

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  24. I really like your positioning here! Thank you

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  25. His facts are all wrong

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  26. As you said, it's speculation. I feel it's worth a few bucks. Not many, but a few. My personal cap is $500. I'm watching to see how (and if) governments get a piece of the pie. If they can, cryptos will stay. If not, then things will get dicey.

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  27. I can never imagine ever making profit from binary options until i came across a post on YouTube that talks about Mr Alexander Quinby and his trading strategies and i decided to give it a try and its been so successful. If you want 100% working strategy contact him alexanderquinby@gmail. com

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  28. Bitcoin cash is 🚀🚀🚀

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  29. The real problem with bitcoin is, that it was mean like a currency for buying and selling.
    Wery few people does this.
    Bitcoin is today mostly traded as a speculation that someone will buys it from me later on with more dollars than i paid today.

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  30. i like to mine bitcoin but i wont buy it

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  31. Now it 7200

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  32. thank you

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  33. Because of the anonymity of Bitcoin, Bitcoin has been used for in the illicit drug trade, sex trade, trafficking of women, etc. Consider your morals, ethics before investing.

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  34. Bitcoin is 7200 usd now

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  35. Of course the government don't like bitcoin🤦🏽‍♂️

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  37. A friend and I talked about buying $100 worth right at the beginning when it was valued at about 3 cents US just to see what would happen. We didn't follow through and forgot all about it. I wish we had done it because we would have been multi millionaires now. Speculative chances like that only come around once.

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  38. Fiat has no value, backed by nothing at all and the central bank can print more fiat currency whenever they like, therefore making the money you have worthless. With Bitcoin, there is a limited supply of coins. There will only be 21 Millions bitcoin ever. 16 millions bitcoin have already been mined and there is still about 5 millions to be mined .The 21 million coins, which is expected to be reached by 2140. Also understand that Bitcoin is not created out of thin air as people believe, it will take a huge amount of power just to mine 1 bitcoin. It will cost more than $1000 in electricity to create one bitcoin. People are underestimating this technology. Bitcoin currently has $120 Billion market cap. So imagine when it will reach the market cap of companies like Apple ($900 Billion). 1 Bitcoin will be worth more than $50,000. You don't have to buy a whole coins. you can buy any fraction. Bitcoin is nowhere near it potential. as of today 09/11/2017 price is $7100/Bitcoin. This thing is going to the MOON

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