Do NOT invest in “alt coins!” Altcoins will make you POOR Invest only in Bitcoin BTC!

00:01 coins. Altcoins are alternative coins,
00:04 which means any coin other than Bitcoin.
00:07 There’s another more common term for
00:09 altcoins, which is I’m not going to say
00:11 it out loud, but they’re called
00:14 coins. You can spell that one out
00:16 yourself. Um, SHITcoins, which are also
00:19 known as altcoins, are all the junk
00:22 tokens that are full on cryptocurrency
00:24 platforms where they make a ton of money
00:26 by people like you buying and selling
00:29 these tokens, but they don’t actually
00:30 have any underlying value. So, what
00:33 happens every time Bitcoin starts going
00:35 up aggressively for long enough,
00:37 everyone starts assuming altcoins,
00:39 because they’re smaller, their value is
00:41 lower, will go up faster. And so
00:44 inevitably, people by the millions have
00:46 the same idea, which is, okay, we know
00:49 Bitcoin’s really the only one that has
00:51 long-term value. But if these other
00:53 tokens are going up faster in the near
00:55 term, then why don’t we buy these junk
00:58 tokens and then ride them up like a
01:01 wave, jump off at just the right time,
01:05 and buy Bitcoin with the proceeds, and
01:07 we will end up with more Bitcoin. It
01:09 never works. People get burned all the
01:11 time. Please don’t do it. It’s a dumb
01:13 idea. Everyone has the same idea. They
01:16 all think it’s an original idea. I’ve
01:17 heard this idea from hundreds of
01:19 different people. And virtually all of
01:21 them, like a casino, get burned. They’re
01:24 all positive. They’re going to playbo
01:26 poker or blackjack or slot machines
01:28 until they’re up and then they’re going
01:30 to stop. None of them do. None of them
01:32 know when to start. None of them know
01:33 when to stop. They always end up losing
01:35 money. And they always come back and
01:37 say, “Well, Joel, you were right.” But
01:39 and then they have some excuse of why
01:40 they would have it would have worked out
01:43 except for this extenduating
01:44 circumstance that couldn’t have possibly
01:46 been predicted. And so I wasn’t really
01:48 right because they did lose money, but
01:50 they didn’t lose money exactly the way
01:52 they thought they might lose money. And
01:54 so they almost won. Well, same with same
01:57 with everybody at a casino. Almost
01:59 nobody who loses money at a casino walks
02:00 out and says, “I was an idiot.” They all
02:02 say, “I knew I should have stopped when
02:04 I was up $250. I knew it. My gut told me
02:08 to stop, but I just I just decided to
02:10 play one more hand and before you know
02:12 it, I had mortgaged my house.” So, it’s
02:14 stupid. It’s stupid. It’s stupid. Don’t
02:16 do that. Okay, but let me dig deeper
02:18 because it’s one thing to just say,
02:19 “Don’t do it. It’s stupid.” It’s another
02:21 thing to understand why. So, in the
02:23 world of crypto and blockchains, there’s
02:25 exactly one really provable, and that is
02:28 for decentralized money. Uh uh a non-s
02:31 sovereign neutral reserve currency that
02:34 anyone in the world can use uh as a
02:36 money that the government doesn’t
02:38 control, and that is Bitcoin. Nothing’s
02:40 even competing with Bitcoin for that
02:42 anymore. In fact, you’ll notice no other
02:44 cryptocurrency even comp even pretends
02:48 it’s competing with Bitcoin anymore.
02:49 They’ve all given up on even pretending
02:51 they’re competing with Bitcoin. So now
02:53 they all claim that they’re competing
02:54 with something else. They’re competing
02:55 to be the leading smart contract
02:56 platform.
03:00 Okay. So none of these platforms and
03:02 technologies are even competing with
03:04 Bitcoin anymore. And they don’t even
03:06 pretend to be competing with Bitcoin.
03:07 They’re all competing to be a smart
03:09 contract or a memecoin or a stable coin.
03:11 But they all have the same problem,
03:13 which is that they’re subject to
03:14 competition that doesn’t apply to
03:16 Bitcoin. So, I’ve done a ton of videos
03:18 about why Bitcoin is different, why
03:20 Bitcoin is not is basically immune from
03:23 competition and all of that, but none of
03:25 these are the same way. So, uh, all of
03:28 these platforms compete with each other.
03:30 So, for example, uh I heard a guy on
03:33 CNBC talking about the fact that he had
03:35 invested in Ethereum because a because
03:38 the stable coin bill had just passed in
03:40 Congress and stable coins are a
03:42 cryptographic token that uh one coin
03:45 represents $1, one US dollar. There’s no
03:47 reason to invest in a stable coin
03:49 because they they mathematically cannot
03:51 go above $1. And unless they’re
03:53 completely broken and going to zero,
03:55 they always trade for $1. So there’s no
03:57 reason to own them as an investment
03:58 asset because it’s like owning the US
04:00 dollar as an investment asset. Well, it
04:02 only ever goes down and same with stable
04:04 coins. But anyway, he was saying he was
04:06 investing in Ethereum because the stable
04:08 coins were going to be a big deal and
04:10 some of them ran on Ethereum. So I did a
04:12 quick search and to find out what smart
04:15 contract platforms you can run stable
04:17 coins on. So here’s the list. Now, this
04:19 is again, I don’t know why the bozo on
04:22 CNBC didn’t bother to Google this before
04:24 he went on CB CNBC talking about it, but
04:27 the same stable coins that he thinks are
04:29 going to be a big deal on Ethereum
04:31 already trade on Tron, Salana, Algarand,
04:34 Avalanche, Polygon, Arbitum, Optimism,
04:38 BNB, Smart Chain, EOS, Near, Stellar,
04:41 and Bass. Okay, so he’s buying Ethereum
04:45 thinking, “Oo, they’re going to transact
04:47 on Ethereum.” Most of the USDT, which is
04:50 the largest stable coin, most of that
04:52 volume of USDT is on Tron. Why is it on
04:54 Tron? Because Tron is a cheaper smart
04:56 contract platform. So all of these smart
04:59 contract platforms are trending toward
05:02 basically zero because they’re all
05:04 trending toward the price of running the
05:05 platform. And there will always be a
05:07 newer, better, cheaper, more centralized
05:10 smart contract platform that you can run
05:12 this stuff on. So, I don’t know why
05:14 anybody would buy Ethereum or Salana or
05:17 anything else assuming that this stuff
05:19 is going to be a big deal because there
05:21 will constantly be a a new string of
05:24 smart contract platforms that you can
05:26 use that are cheaper and um you know,
05:29 cheaper and faster and better. And
05:31 there’s there’s no network effects with
05:33 a smart contract platform. If you want
05:35 to use a smart contract platform for
05:37 decentralized finance, which I’m not
05:38 even going to go into, it’s almost
05:40 entirely smoke and mirrors. But if you
05:42 want to do that, you’re always going to
05:43 use whatever’s good enough. There’s no
05:46 reason to use one platform versus
05:48 another as long as the technology is
05:50 good enough and it’s cheap. So there’s
05:52 just no reason to believe that, you
05:55 know, any of these is a good investment.
05:57 Um, so if you’re buying, for example, on
05:60 here, if you’re buying uh if you’re
06:02 buying Salana because you think, well,
06:05 Salana is the hot new platform, guess
06:07 what? It was Ethereum before that. It’ll
06:08 be Sooie after that. It’ll be Tron.
06:10 It’ll be like it’s just a constant
06:12 revolving door of platforms that all get
06:15 made obsolete by the one after them. And
06:18 if you don’t know for a fact that that’s
06:21 not going to happen to your favorite
06:22 altcoin, I promise you it will happen to
06:24 your favorite altcoin. In addition, all
06:26 of these altcoins are trending towards
06:28 zero because again, there’s no reason
06:30 for a smart contract platform to be more
06:33 valuable than the price of running the
06:34 network. Because if it’s more valuable
06:37 than the price of running the network,
06:38 it will be outco competed by another
06:40 smart contract platform with lower fees
06:43 because you’re not going to pay $20 to
06:45 transact on Ethereum if you can pay 2
06:48 cents to transact on Tron. And so it’s
06:50 just a perpetual race to the bottom. So
06:53 somebody mentioned to me, they were
06:54 like, “Yeah, but what what about the
06:55 fact that uh uh Black Rockck is doing
06:57 this tokenized uh platform and it’s
07:00 going to be a huge deal and it’s
07:02 tokenized at real world assets, blah
07:04 blah blah.” and they had just announced
07:05 that they were coming to Salana. And so
07:08 some people were like, “Look, this is
07:09 going to be a huge deal. Salana, they
07:11 picked Salana. It’s a huge they picked
07:12 Salana. Black Rockck picks Salana.”
07:14 Okay, so I did a quick Google search
07:16 because as my kids know, if you ever
07:19 have an idea, run it by Google.
07:21 Actually, start with chat GPT. Chat GPT
07:24 is way better. Start with chat GPT, then
07:26 Google, then YouTube to find out the
07:28 truth. And in this case, because you’re
07:30 not like trying to figure out how to do
07:31 something, it would be primarily chat
07:33 GPT and Google. So a quick chat GPT
07:35 tells me that before before uh BlackRock
07:39 chose Salana to list their uh this
07:42 tokenized security, it was already
07:45 meaning they had already listed it on
07:47 Ethereum, Polygon, Aptos, Arbitum,
07:51 Optimism, Avalanche, and now Salana.
07:54 Okay, so this thing’s already trading on
07:57 Ethereum, Polygon, Aptos, Arbitum,
07:60 Optimism, and Avalanche. And then they
08:02 announce it’s coming to Salana and
08:03 people are like this is a huge deal.
08:05 It’s coming to Salana. Salana is the new
08:07 platform. It’s like seriously why is
08:10 Salana the new platform if before Salana
08:13 Black Rockck chose Ethereum, Polygon,
08:16 Aptos, Arbitum, Optimism, and Avalanche?
08:19 Before Salana, it’s just going to keep
08:21 happening over and over and over. And
08:22 nobody who’s invested in the stuff can
08:25 articulate to me why the token that they
08:27 think is going to go up faster than
08:29 Bitcoin is not going to be made obsolete
08:31 by another token. Now again I have done
08:34 numerous videos on why that dynamic does
08:36 not apply to Bitcoin. In the case of
08:39 Bitcoin, what you’re going for is
08:40 security and decentralization. Uh the
08:42 implementation of Bitcoin is such that
08:45 you cannot make a blockchain that is
08:48 more secure and more decentralized than
08:49 Bitcoin. And if you need to scale it,
08:51 you can scale it with things like the um
08:54 the lightning network. So with Bitcoin,
08:57 you get the best of all worlds. You get
08:58 the scaling with the lightning network
08:60 and other layer 2 solutions, and you get
09:02 the security and decentralization, which
09:05 is the only thing that really matters
09:07 for a decentralized money is
09:08 decentralization and security. So
09:11 Bitcoin already nailed that. There’s no
09:13 way to upgrade Bitcoin because the
09:15 things that matter for a decentralized
09:17 money are already a 10 out of 10 or a
09:20 100 out of 100 or whatever you want to
09:21 call it. And the only things that could
09:24 be improved about Bitcoin come with
09:27 fundamental flaws that cause them to be
09:31 inferior. So for example, if you
09:32 increase the privacy of Bitcoin, you
09:34 make it less likely that uh platforms
09:36 will list it because criminals are more
09:38 likely to use it. So Bitcoin has good
09:40 privacy. Now if you make it completely
09:43 anonymous then criminals can use it and
09:46 then that that’s why uh platforms will
09:48 not list things like uh oh what is it uh
09:53 I forget the I forget what the token is
09:55 that like the privacy token Monero
09:57 that’s what it is XMR the XMR token is
10:00 not listed on any major platforms
10:02 certainly not for the United States
10:04 because it’s too anonymous and criminals
10:06 use it too much Bitcoin criminals tend
10:10 to not use Bitcoin unless unless they’re
10:11 stupid because if you get a warrant, you
10:13 can figure out who owns the account
10:14 behind it uh from law enforcement at
10:17 Coinbase or wherever, which is again is
10:19 a good level of security. It’s the
10:21 amount of it’s the mass it’s the maximum
10:23 amount of security and privacy you can
10:24 get without becoming a haven for money
10:27 laundering and illicit activity. So
10:30 everything that every choice that
10:31 Bitcoin made made it optimum as money.
10:34 And you can’t upgrade something that’s
10:35 already perfect as money. These smart
10:38 contract platforms can always be
10:39 upgraded by something that’s faster,
10:41 better, cheaper, and that will continue
10:43 to happen forever. So, every time
10:46 somebody comes up with a new token and
10:47 they’re like, “No, the next big thing is
10:48 Sooie. The next big thing is Salana. The
10:51 next big things I look these things up.
10:52 They’ve all been around for years.
10:54 They’ve all gone up and down as people
10:55 have hyped and pumped them in their
10:58 early days before realizing that they
11:00 were just going to be made obsolete by
11:01 something else. And this goes on and on.
11:04 So, in summary, don’t buy stupid stuff
11:06 that’s going to zero thinking that
11:09 you’re going to get out and sell it to a
11:10 greater fool. These altcoins are all
11:13 subject to being made obsolete by a new
11:15 altcoin. Virtually all of them have
11:18 already, if you look at the top 10 or
11:19 the top 20 crypto tokens 5 years, 10
11:22 years, 20 years, and well, not 20
11:24 because it didn’t exist, but 5, 10, 12,
11:26 whatever, uh, years ago, it’s all
11:28 different coins. They’ve all been made
11:29 obsolete. big hot coins from the early
11:32 days of crypto are all gone except for
11:34 Bitcoin. So, the same thing’s going to
11:36 happen with the current crop of hot new
11:38 coins. It’s just not worth it. So, buy
11:41 as much Bitcoin as you can, hold it for
11:43 as long as conceivably possible.
11:45 Everything else other than Bitcoin is
11:46 going to eventually end up getting out
11:48 competed by something else. And all of
11:50 these other things, whether it’s a
11:51 memecoin or something, uh, you know, a
11:54 memecoin or a smart contract platform,
11:56 all of them are going to be oneuped by
11:58 something new and lose their luster,
12:00 tarnish, and fade to to irrelevance,
12:03 leaving what’s what they always leave,
12:05 which is Bitcoin. So, just invest in
12:07 Bitcoin. It’s really that simple. It’s
12:09 not that hard. Don’t outsmart yourself.
12:11 Don’t cheat your yourself out of Bitcoin
12:12 by investing in junk. Have a great day,
12:14 everyone. Thanks.