hold on one second I'm just waiting for
the hate comments so I know you tend to
get a lot of hate comments when you talk
about Bitcoin but I'm gonna go ahead and
I have literally had hundreds of people
commenting asking me my opinion on
Bitcoin questions like am i buying
Bitcoin what are my thoughts on Bitcoin
in other cryptocurrencies and there are
three main reasons why I will not invest
one penny in Bitcoin so I just want to
remind you guys what a typical return
looks like so over the last 100 years
the average return from the stock market
has been somewhere around eight to ten
percent and if you are a very successful
investor you may find that you get a
return of around 20 percent if you
really know what you're doing
so to have a return of 400% in 9 months
time is unheard of for that reason I am
skeptical of the rapid appreciation of
price but the number one reason why I
won't invest in Bitcoin is simply
because I don't understand Bitcoin now
yes I do understand that it is a digital
currency and it is a finite resource
similar to things like silver in gold so
I do know the basics of Bitcoin but I
don't have a good enough understanding
of Bitcoin to invest my money into it
now it is possible that I'm wrong about
Bitcoin and I should be jumping on this
bandwagon and bitcoin is heading to a
$10,000 per coin but for me I have a
very specific investing strategy and my
number one rule is to invest in things I
fully understand and now I have a basic
understanding of how Bitcoin works but I
honestly do not have a good enough
understanding in Bitcoin to actually
invest in it what's interesting as well
as many of the brilliant people out
there that I have talked to who have a
good understanding of Bitcoin are
actually skeptical of the rapid
appreciation of price as well and many
of these people are not investing in
Bitcoin themselves the second reason I
wouldn't invest in Bitcoin is due to the
high volatility now when I make a long
term investment
I don't invest in a volatile asset
occasionally I do swing trade and when I
swing trade I look for assets with
slight volatility that way there is a
price movement so if I were to do
something with Bitcoin the only thing I
would consider doing is trading Bitcoin
and trading that price
but but even so I will be breaking my
number-one rule which is making an
investment or involving myself in
something I don't fully understand so
due to the volatility I would never see
Bitcoin is something I would make a
long-term investment in on top of this
Bitcoin has had a number of crashes in
the recent years we saw this in December
of 2013 June of 2014
February of 2017 and even as recently as
June of 2017 so there have been frequent
crashes in Bitcoin prices and that
combined with the volatility is a big
red flag for me my opinion is that this
rapid appreciation in Bitcoin prices
really feels like it may be a
speculative bubble one of the things
I've learned is that when everyone is
getting in on something that's probably
a good time to get out of it now the
third and final reason I won't invest in
Bitcoin is due to the low transaction
volume so on December 31st of 2016
the average daily Bitcoin transactions
were two hundred fifty eight thousand
one hundred ninety seven and that was on
a seven-day average on September 1st of
2017 the average daily transactions on
that seven-day average were 250 1543 so
the average daily transactions have
actually gone down slightly since
December I would have expected these to
increase especially with the higher
level of interest surrounding Bitcoin
with more people investing in it with
more people talking about it you would
expect the transaction volume to
increase as well so just to put this
into perspective visa alone handles 150
million transactions per day so when you
compare Bitcoin transactions to Bizu
transactions there are 596 visa
transactions per every one Bitcoin
transaction each day so for those of you
who think Bitcoin is revolutionizing the
payment networks and it's the next big
thing Bitcoin is absolutely tiny it has
a very small market share of those
actual transactions and the reason why
this is is that most people who buy
Bitcoin are not actively using it as a
currency in fact they are just holding
on to it and the number one reason why
you can't use Bitcoin as a functional
currency is due to the reason number two
on my list that volatility these drastic
price swings mean that Bitcoin really is
not a functional currency because the
price is changing every single day so at
the end of the day bitcoin is supposed
to be a payment network and a way people
are buying things and exchanging money
so the fact that we are not seeing a
increase in transactions is a big red
flag to me because it means that bitcoin
isn't doing what it's supposed to be
doing I would expect to see more
transactions over time especially as
interest in Bitcoin increased but we
just aren't seeing that and that is the
third and final reason why I won't
invest in Bitcoin the fact that people
are buying and holding on to this
currency really defeats the purpose of
what bitcoin is supposed to be a payment
network and a currency that changes
hands but people are really just holding
on to it and leaving it in their wallets
and they're not using it as a functional
currency so anyways guys those are the
three reasons why I won't be investing
in Bitcoin and if you guys agree with me
or disagree with me please let me know
in the comment section below but if you
guys enjoyed this video please drop a
like and if you are new to my channel
please consider subscribing to be
notified of future uploads and as always
I thank you for taking the time to watch
this video
you
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