00:02 hey everyone I thought I’d do a quick
00:03 video about all the other meme coins and
00:06 crazy knockoffs of Bitcoin that exist
00:08 out there specifically I’ll Focus for
00:10 this uh video on Dogecoin which is
00:13 spelled D o g so it’s spelled like doggy
00:16 coin but it’s pronounced Dogecoin and uh
00:19 Sheba anuc coin which is a knockoff of a
00:22 knockoff so uh Dogecoin is a knockoff of
00:25 Bitcoin and sheba Anu is a knockoff of
00:27 Dogecoin which itself is a meme coin of
00:30 the Sheba an new dog um there are like
00:34 20,000 different ridiculous
00:36 cryptocurrencies uh a few of the smart
00:38 contract tokens will be worth something
00:40 one day but nobody knows which and I do
00:42 not recommend trying to figure that out
00:44 it is pure Venture Capital sort of
00:46 speculation um but anyway so let’s talk
00:48 about a couple of the knockoffs of
00:50 Bitcoin because most of the 20,000 coins
00:52 out there work in a similar fashion so
00:54 let me start with Dogecoin so Dogecoin
00:58 if you’ll remember from my previous
00:59 videos um what makes Bitcoin valuable is
01:02 its scarcity it’s scarcity security
01:06 decentralization distribution and its
01:08 Anonymous creation there’s a bunch of
01:10 other things that make Bitcoin valuable
01:11 but those are you know a good top five
01:14 for that are relevant uh for this so if
01:17 you remember right uh come April the
01:19 number of new Bitcoin that get created
01:21 every time a miner uh solves a block and
01:24 mines a new block of Bitcoin is three
01:26 Bitcoin so coming up in April that will
01:28 be three Bitcoin every 10 minutes to
01:30 show you how ridiculously not scarce
01:33 Dogecoin is rather than three Bitcoin
01:37 every 10 minutes Dogecoin generates
01:40 10,000 new Dogecoin every minute that is
01:45 144 million new Dogecoin tokens enter
01:49 the circulating Supply every single day
01:52 so again that’s compared to in June for
01:54 Bitcoin the total number of new Bitcoin
01:56 uh entering circulation a day is 450 450
02:00 uh meanwhile Dogecoin a 144 million new
02:05 Dogecoin enter circulation every single
02:07 day and the total supply of Dogecoin is
02:10 not 144 million per day but a total of
02:13 144 billion so if you own a Dogecoin you
02:17 have W 144 billionth of the supply
02:21 except the supply is going up by more
02:23 than 5 billion a year and it goes up
02:26 forever for Infinity so if um if you
02:30 think that Dogecoin is valuable then uh
02:33 I would say yeah just like grass
02:35 clippings are are grass clippings
02:37 valuable to you know mulch your lawn
02:39 yeah sure um but eventually Dogecoin
02:43 will Trend toward the price of a GL of a
02:45 grass clipping because a blade of grass
02:48 is uh is essentially almost worthless um
02:51 and Dogecoin will eventually be as well
02:53 and as a quick uh sort of bullet point
02:55 in time the highest price that Dogecoin
02:58 ever touched was in June of 2022 a
02:60 little less than two years ago and it is
03:02 down 80% from that all-time high so even
03:05 though Bitcoin keeps touching new
03:06 all-time highs every few days as of the
03:09 last couple weeks even though Bitcoin is
03:11 touching new all-time highs Dogecoin is
03:14 down 80% from its all-time high and I
03:16 don’t ever see it recovering um you may
03:19 Wonder well why is Elon Musk pumping
03:21 Dogecoin why does he talk about Dogecoin
03:24 well first of I love Elon Musk and his
03:26 technology and SpaceX and Tesla and he
03:28 has done an incredible amount of stuff
03:30 but often Elon Musk gets hung up on
03:32 things that he thinks are funny that
03:34 cost other people money um so for
03:37 example he posted on Twitter a number of
03:39 years ago that he was taking Tesla
03:41 private for $420 per share which was
03:44 significantly higher than the trading uh
03:46 amount of that day uh or sorry the price
03:49 of that day I should say so a bunch of
03:50 people bought Tesla stock believing that
03:53 what he had posted on Twitter uh was
03:55 true and that they could buy the stock
03:57 for less than $420 a share and they
04:00 would get $420 a share when he took
04:02 Tesla private well it turns out the
04:04 whole thing was a joke Elon Musk thought
04:05 it was funny the Security and Exchange
04:07 Commission did not think it was funny
04:09 and forced him to step down as chairman
04:11 of Tesla he remained CEO they forced him
04:13 to step down as chairman because his uh
04:16 joke cost a bunch of people a bunch of
04:17 money uh Elon Musk thinks Dogecoin is
04:20 funny uh that is also going to cost a
04:22 bunch of people a bunch of money and he
04:24 is being sued accordingly by people who
04:26 bought Dogecoin when it was much higher
04:28 than it is now and there being they’re
04:31 suing him for essentially pumping a
04:33 worthless token that they bought at the
04:35 high so uh Dogecoin I think will Trend
04:37 towards towards zero and uh it’s about
04:40 as valuable in the long term as perhaps
04:42 grass clippings so if you think that’s
04:44 ridiculous um the Sheba an new coin
04:47 which is a knockoff of Dogecoin the
04:50 Sheba an new rather than having 144
04:53 billion coins in circulation which is
04:55 what Dogecoin has remember Bitcoin is 21
04:58 million the lowest of them all 21
05:00 million fixed Supply hard cap super
05:03 secure super decentralized super
05:04 distributed and anonymously created
05:07 these other coins don’t have any of that
05:08 so anyway instead of 21 million for
05:10 Bitcoin or 144 million um sorry 144
05:15 billion with a B for Dogecoin Sheba Anu
05:19 has
05:20 589 trillion coins in circulation so if
05:24 grass clippings are worth something the
05:27 value of a Sheba new coin will Trend
05:29 toward the value of a Rin of sand and
05:31 it’s ridiculous because you hear people
05:33 say now and then yeah but for only 200
05:35 bucks I bought like you know a gazillion
05:38 Sheba new coins and if each one is ever
05:40 worth a penny then I’m going to be rich
05:42 well each one is never going to be worth
05:44 a penny uh I could do the same thing
05:46 collecting uh pine straw or collecting
05:49 sand and I could have a huge sand pile
05:51 in the back of my yard and tell
05:53 everybody that if each grain of sand is
05:55 ever worth a penny I will be rich well
05:58 grains of sand are never going to be
05:59 worth a penny because they are not
06:00 scarce Sheba and new tokens with 589
06:04 trillion in circulation will also never
06:07 be worth a penny because they are also
06:08 not scarce and if you look on coinbase
06:11 uh at the statistics it says total
06:13 Supply is infinite the little uh
06:16 horizontal figure eight that is infinity
06:20 is the amount of total Supply on
06:22 coinbase it literally says the percent
06:24 of the total Supply is infinity percent
06:26 like as in there is no cap on the total
06:29 Supply like this thing is going on you
06:32 know it’s ridiculous so um not only is
06:34 there 589 trillion Sheba new coins
06:37 already in circulation it to is down 73%
06:42 from its high in June of 2023 it’s a
06:44 newer coin than Dogecoin otherwise it
06:46 would have peaked sooner uh both of
06:48 those I would estimate are never coming
06:50 back and again they’re never going to be
06:52 worth a penny or in the case of Dogecoin
06:54 it’s worth more than a penny now but I
06:56 think ultimately it will Trend back
06:57 toward uh back toward zero so in the
06:60 world of crypto everything is either
07:02 trending toward infinity or zero and
07:05 Bitcoin is trending toward infinity and
07:07 everything else is pretty much uh
07:09 trending toward zero because everything
07:10 else is almost worthless uh because it’s
07:13 not scarce so with all of these things
07:16 you got to remember what brings value is
07:17 its scarcity its security uh
07:21 decentralization distribution and the
07:23 anonymous creation so let’s talk about
07:25 each of those with scarcity Bitcoin has
07:27 uh 21 million total coins that will ever
07:29 be in existence
07:30 um that is a hard cap the miners only
07:33 are going to get about three Bitcoin
07:35 every 10 minutes uh starting in April of
07:37 this year right now it’s twice that it
07:39 will drop to half of that in April of
07:40 this year and uh Bitcoin is by far the
07:43 most secure uh uh digital currency ever
07:46 created uh the security of the Bitcoin
07:48 network is about 20 times more than the
07:52 security of all other crypto tokens in
07:54 the world combined 20 times that so it’s
07:57 20 times more than 20,000 thousand other
08:00 cryptocurrencies combined so Bitcoin is
08:04 I mean it’s on the other side of the
08:06 literal Universe insecurity from any
08:08 from Dogecoin or shanu or anything else
08:10 decentralization meaning is it
08:12 controlled by a small number of people
08:14 Dogecoin was created by two people we
08:16 know who they are we know where to find
08:17 them Sheba new also created by a small
08:19 team of people we you know those are
08:21 that’s knowable information uh Bitcoin
08:23 is decentralized in that the network is
08:26 controlled by a massive number of people
08:29 uh no one person controls it if you
08:30 wanted to shut down Bitcoin or if you
08:32 wanted to change Bitcoin there’s
08:33 literally nowhere to go because it is
08:35 decentralized uh the distribution of
08:37 Bitcoin Bitcoin is the fairest most
08:39 distributed cryptocurrency that’s ever
08:41 existed because it’s been around the
08:43 longest and because it naturally and
08:45 organically distributed around the world
08:47 through Bitcoin mining and then people
08:49 uh buying and selling Bitcoin all over
08:51 the world uh no other cryptocurrency has
08:53 that level of distribution and again
08:54 Bitcoin has its Anonymous creation where
08:56 nobody knows who Satoshi Nakamoto is or
08:59 who it or who Satoshi nakabo is where he
09:02 is how to find him and he has not been
09:04 involved with the network in more than a
09:06 decade and everything works fine because
09:07 it’s all open source software so um
09:10 that’s the highlights almost all of the
09:11 20,000 cryptocurrency and crypto
09:14 projects are worthless Bitcoin is one of
09:16 the very few exceptions I do say think
09:18 some of the um uh uh would I guess some
09:22 of the smart contract platforms may be
09:24 valuable one day for example ethereum
09:27 but nobody knows if ethereum is going to
09:28 win or another smart contract platform
09:31 in the world of digital gold and money
09:32 Bitcoin already won a long time ago uh
09:35 so you don’t have to worry about that on
09:36 the Bitcoin side but on the smart
09:38 contract side it is still uh very
09:40 unclear what is ultimately going to win
09:42 that Marketplace um but anyway so of the
09:45 20,000 cryptocurrencies and crypto
09:47 tokens and crypto projects almost all of
09:49 them will be worthless uh with very few
09:52 exceptions and Bitcoin is is by far the
09:54 U 99.9% certainty to be one of those
09:58 exceptions that ends up becoming the
09:60 default monetary system of the world and
10:01 all of the knockoffs will fall by by the
10:03 wayside as they should um last highlight
10:07 as a bonus for this episode is uh
10:09 everybody who asks me I tell them you
10:11 know you should buy Bitcoin now as
10:12 opposed to wait and the reason for that
10:15 is if you’ve held Bitcoin a long time
10:17 you know that major news can hit the
10:19 market at any time so right now there’s
10:21 really only one Corporation in the world
10:23 that owns a huge amount of Bitcoin and
10:25 that is micro strategy and the CEO the
10:28 founder and CEO of micro strategy uh the
10:30 company uh the founder and CEO’s name is
10:32 Michael sailor he’s a genius he’s
10:35 brilliant the guy’s incredible in every
10:36 conceivable way uh but they’re really
10:38 the only company in the world that’s
10:39 accumulated significant amounts of
10:42 Bitcoin on their balance sheet meaning
10:43 in their corporate treasury so um at
10:46 some point we will hear a news article
10:48 you know nobody knows when nobody knows
10:50 if it’s this year next year tomorrow
10:52 this afternoon but we will find out that
10:55 Amazon or Tesla or Tesla already has
10:57 some Bitcoin on the balance sheet but as
10:58 a percentage it’s very small
11:00 uh microscopic compared to what um
11:03 compared to what uh micro strategy has
11:05 but we’ll find out that some major
11:07 company that is more mainstream like
11:09 Amazon or Apple or Google or um or
11:13 Facebook or Netflix puts Bitcoin on
11:16 their balance sheet which is what uh
11:18 what um Tesla did back in 2021 which was
11:22 one of the catalysts for a huge increase
11:23 in the price of Bitcoin um so at some
11:26 point other companies are going to do
11:27 that and the price is going to rise
11:29 radically and you certainly want your
11:31 Bitcoin purchases to be on the before
11:33 that happened rather than the after that
11:35 happened in addition to that no nation
11:37 state other than El Salvador owns
11:39 Bitcoin and they have a dollarized
11:40 economy which means they can’t print
11:42 their own money to buy Bitcoin at some
11:44 point um either Switzerland or somebody
11:47 is going to we’re going to find out that
11:49 they’ve been accumulating Bitcoin on
11:50 their central bank balance sheet um
11:53 again I don’t know that to be the case
11:54 I’m just speculating that at some point
11:56 a central bank will decide to do that
11:59 and that will Tri trigger a series of
12:00 dominoes that result in a huge price run
12:03 in the uh price of Bitcoin so um all
12:06 that to say that’s why when everybody
12:07 asks me uh is now a good time should I
12:09 wait should I watch you know whatever I
12:11 always tell them absolutely buy now
12:14 because you don’t know when those news
12:15 stories are going to hit when they do
12:17 hit they tend to result in a huge price
12:19 rise in the price of Bitcoin and then uh
12:21 the probability that you miss out on
12:23 that is much higher than the probability
12:25 that you wait and buy Bitcoin at a
12:26 cheaper price uh so any of those sort of
12:29 major catalysts can happen at any time
12:31 nobody knows when they hit um and
12:33 typically you find out after the fact
12:35 because bitcoin’s price went way up uh
12:38 and then you go check the news and find
12:39 out that there’s some major new
12:41 development that has resulted in uh a
12:43 huge price rise in the price of Bitcoin
12:45 um so anyway hopefully this is helpful
12:47 highlights on Dogecoin Sheba and new and
12:49 again I just talk about those because
12:51 they’re two of the better known coins
12:52 but the same uh the same Dynamics apply
12:54 to the vast majority of the 20,000 other
12:57 cryptocurrency crypto tokens out there
12:60 in that the uh they are not limited to
13:02 supply there’s basically a gazillion of
13:04 them um they don’t have the security
13:06 decentralization distribution or
13:08 Anonymous creation of Bitcoin and they
13:10 will eventually uh Trend toward zero so
13:12 hopefully this is helpful happy to do
13:13 additional videos with anything that any
13:15 of you would find um find helpful in
13:17 your Bitcoin Journey thanks
