Why aren’t junk tokens totally in the toilet now that they have been snubbed by the US government?

00:01 hey everyone you may be wondering now
00:03 that the US government has officially
00:05 established a strategic Bitcoin reserve
00:07 and has officially snubbed the other
00:10 crypto stuff that Donald Trump had
00:13 tweeted about on Sunday morning why
00:16 isn’t the other stuff that Donald Trump
00:18 tweeted about totally in the toilet um
00:21 and the answer is I don’t know because
00:25 people have an almost unlimited ability
00:28 to be irrational now um they might be
00:31 more in the toilet than I realized
00:32 because when I compare anything I
00:34 compare it in terms of Bitcoin so when I
00:36 check the price of salana or cardano or
00:40 ethereum or um or what was the other one
00:44 oh xrp the scam token xrp I’m always
00:47 comparing them to uh in as priced in
00:50 Bitcoin not as priced in US dollars so
00:53 maybe I’m not exactly accurate but um
00:55 most of those have held up pretty well
00:57 which is shocking because what the US
00:59 government officially communicated is
01:01 that the right way the right side to be
01:04 on those tokens is as a seller not a
01:07 buyer so the Strategic Bitcoin Reserve
01:10 was set up this morning sorry yesterday
01:12 it was announced and signed into law uh
01:14 with the executive order yesterday and
01:17 uh the executive order said the US
01:19 government will keep and buy Bitcoin but
01:22 it will only keep or sell these other
01:25 assets you would you would think they
01:26 would drop through the floor now it
01:28 makes all the sense in the world because
01:30 is what the US government is
01:31 communicating one second
01:35 here what the US government is
01:37 communicating is that they intend to do
01:39 exactly what the inventors of this token
01:41 did uh of each token did so for example
01:44 the ethereum foundation in Vince
01:46 ethereum they issue a bunch of it to
01:48 themselves and they’ve been selling
01:50 their part of it ever since it’s their
01:52 source of income they they issued the
01:54 currency out of thin air they slowly
01:57 dump it on the market not so much that
01:59 it crashes the price but they just
02:01 slowly dump it on the market and that’s
02:02 how they make huge amounts of money uh
02:05 same with cardano cardano issued
02:07 themselves their own token and they’re
02:09 dumping it on the people dumb enough to
02:11 buy it same with xrp they issued
02:13 themselves 100% of all 100 billion
02:16 tokens and they have been dumping the
02:19 that their the tokens they own on the
02:21 unsuspecting public ever since and same
02:24 with uh salana uh with the salana
02:27 foundation or whatever the entity is
02:29 that runs salana so all of those
02:31 entities only sell their token they
02:33 never buy their token and they never buy
02:36 it because they don’t have to because
02:37 they issued their token to themselves
02:39 from the beginning and so why would you
02:41 buy a token that you can make up out of
02:43 thin air obviously Bitcoin is different
02:45 no one has ever made up Bitcoin out of
02:48 thin air even the very first Bitcoin
02:50 miners had to expend computational power
02:54 and electricity to mine the first
02:56 Bitcoin now back then it was super cheap
02:59 but it doesn’t matter matter if it was
03:00 super cheap anyone in the world could
03:02 have run the Bitcoin software on their
03:03 own computer anyone could have mined
03:06 Bitcoin back in 2009 anyone could have
03:09 got begotten the Bitcoin for the price
03:11 of electricity however much it cost them
03:13 to run their computer hot with all the
03:16 fans on full blast because that’s what
03:18 happens if you run a Bitcoin mining
03:20 software back in the day on a personal
03:22 computer it would basically max out the
03:24 computer because the computer was
03:25 working really hard to try to uh mine
03:28 new Bitcoin so most people just turned
03:30 it off cuz it was made their computer
03:32 run hot um but if you were willing to
03:34 let your computer run hot you could mine
03:36 Bitcoin and every day or every week or
03:39 every month you might get 50 Bitcoin um
03:42 and then it obviously got way more
03:43 competitive and it got way harder and
03:44 then eventually it got so hard that no
03:47 no normal person could ever mine Bitcoin
03:49 with their personal computer and now
03:51 it’s even almost impossible to mine
03:53 Bitcoin with at home dedicated Bitcoin
03:55 mining rigs because like the one I have
03:58 at home is uh the chance of it winning a
04:01 block which now instead of 50 Bitcoins
04:04 it only has 3.125 Bitcoins because it
04:06 drops in half every four years the
04:08 probability of my atome Bitcoin miner
04:10 that does 1 trillion computations per
04:13 second the chances of my minor finding a
04:15 block once every 10 minutes is one in a
04:18 billion literally one in a billion which
04:20 means I will find a block about every
04:22 one every 15,000 years um so back then
04:27 you could bind with your personal
04:28 computer now you almost can’t even even
04:30 mine with dedicated specialized Bitcoin
04:33 mining Hardware that is the latest and
04:35 greatest uh which you can buy for 200
04:37 bucks or something like that which is I
04:39 have a couple of those at home um so
04:41 anyway but everybody who owns Bitcoin
04:44 worked for it they either mined it by
04:47 expending computational power and
04:49 electricity or they paid someone who did
04:54 nobody in the world of Bitcoin got
04:56 Bitcoin for free not even Satoshi
04:58 Nakamoto who invented Bitcoin the
04:60 Bitcoin that people believe he mined he
05:03 mined it free and fair on the open
05:04 market with everyone else he was running
05:06 his computer mining Bitcoin like
05:09 everyone else not only that but in the
05:11 case of Bitcoin one
05:14 second early on uh Bitcoin had a feature
05:18 where you could uh mine it with a dual
05:21 core processor and the invent inventor
05:25 of of bit Bitcoin Satoshi Nakamoto
05:28 actually had a dual core process on his
05:30 computer and he could have turned it on
05:33 where his computer mined twice as much
05:35 Bitcoin but he didn’t uh he did not turn
05:38 it on so he voluntarily was mining half
05:41 as much Bitcoin as he could have because
05:44 he kept the ability to turn on that
05:46 second CPU power just in case he needed
05:49 it um you know in case he needed it to
05:51 fix something in the network very early
05:53 on but he actually did not want to mine
05:56 a lot of Bitcoin for himself he wanted
05:58 to get the network bootstrapped and
06:00 everybody have an an an opportunity so
06:03 even Satoshi Nakamoto did not even mine
06:05 Bitcoin as efficiently as he could have
06:08 he did it the slow way um and reserved
06:11 the ability to use multi-core processors
06:13 in case of emergency and then ultimately
06:15 that became irrelevant and everybody
06:17 started mining it with all sorts of
06:18 stuff uh which was the point so the even
06:21 the inventor of Bitcoin not only did he
06:23 not issue himself tokens for free the
06:25 ones he did mine he mined fair and
06:27 square and he mined him fair and square
06:30 without benefiting from any shortcuts
06:33 that he even had access to so that is
06:36 why fast forward 16 years the United
06:38 States government says we are putting
06:40 Bitcoin in a strategic Bitcoin Reserve
06:42 it’s not unfair to anyone to do that
06:45 because it’s not like you’re benefiting
06:47 you’re artificially in uh benefiting the
06:50 inventors of salana or cardano or
06:52 ethereum or xrp you’re not unfairly
06:55 benefiting the people who issued those
06:56 tokens to themselves for free because
06:58 the US government is not going to buy
06:60 any of those tokens it will only sell
07:01 those tokens which will make the prices
07:03 go down the only thing it will buy as
07:06 far as a digital asset is Bitcoin
07:08 because Bitcoin is in the Strategic
07:10 Bitcoin reserve it is not a strategic
07:12 crypto reserve it is a strategic Bitcoin
07:15 Reserve that only has Bitcoin in it and
07:18 but that does not unfairly benefit
07:20 anybody because 100% of the people who
07:22 own Bitcoin worked for it or traded
07:25 something else for it like US dollars so
07:28 everyone who owns Bitcoin had an equal
07:31 shot of of having Bitcoin everyone in
07:34 the entire world back in 2009 could have
07:36 gone to bitcoin.org downloaded the
07:39 software and run it on their computer it
07:41 was wide open for the world to see
07:43 everyone in the world had the same
07:45 opportunity to mine Bitcoin in the early
07:47 days now most people didn’t because they
07:48 didn’t think it was real they didn’t
07:50 think it would be worth anything and you
07:52 know as much work as Satoshi Nakamoto
07:55 put into trying to um publicize Bitcoin
07:60 the original inventors of Bitcoin did a
08:01 ton of work uh promoting Bitcoin and
08:05 trying to get people to adopt it even so
08:08 it was really slow because most people
08:09 just are not interested in learning new
08:12 things or Innovative new monetary
08:14 systems that’s just not something on the
08:16 top of most people’s list of what
08:18 they’re focused on um so everybody who
08:20 owns Bitcoin got it fair and square
08:21 everybody who got who owns or a lot of
08:24 people who own ethereum or cardano or
08:27 xrp or
08:30 whatever the other one was cardano
08:31 salana xrp and ethereum there you go the
08:34 four the four others that Donald Trump
08:36 had tweeted about on Sunday um they are
08:39 not getting any special benefits so I
08:41 don’t know why the prices of this junk
08:43 tokens are not like totally in the
08:44 toilet uh I don’t know people appear to
08:48 be too dumb to realize that these tokens
08:49 are junk or that they were officially
08:53 snubbed by the US government like I
08:56 don’t I don’t know why anybody thinks
08:57 these things have value when the US
08:60 government just communicated that they
09:01 would only be a seller and never a buyer
09:03 of these things um now ethereum has been
09:06 slowly marching toward zero uh over many
09:09 years now so it continues to slowly
09:11 March toward zero but some of these
09:13 other tokens they should be down 50% 75%
09:16 at least 20% and somebody’s still buying
09:20 them I just don’t know who these people
09:21 are it’s crazy uh probably the dumbest
09:24 one of all which is actually up a little
09:26 bit is something called Bitcoin cash bch
09:29 so the real Bitcoin is Bitcoin
09:32 BTC uh but there’s a knockoff that
09:35 called bch and it’s been slowly trending
09:37 towards zero for years and years and
09:39 years now um since it was invented it
09:42 has lost
09:43 99.7% of its value
09:45 99.7 but as of the last week or two it’s
09:48 only down compared to bitcoin
09:52 99.5 which is actually up because if you
09:55 were trending all the way down to
09:57 99.7% down and now you’re only
10:00 99.5% down then that means you’re up
10:03 compared to Bitcoin now who on the
10:05 planet is buying bch Bitcoin cash all I
10:09 can figure is that people think the US
10:12 government is so dumb that they’re
10:14 accidentally going to buy the wrong one
10:16 like give me a break the US government
10:18 is not going to accidentally buy bch
10:21 instead of BTC like that’s just the
10:22 dumbest thing on the planet so I have no
10:25 idea what these people are thinking that
10:27 are buying these bizarre wonky worth L
10:30 tokens that got invented out of thin air
10:32 or that just don’t you know have
10:35 anything close to the security or the
10:38 you know immutability so you know
10:40 sovereignty of Bitcoin like I don’t know
10:43 why anybody’s buying this stuff but
10:44 somebody’s buying it because otherwise
10:46 the prices would be completely in the
10:48 toilet and they’re only somewhat in the
10:50 toilet um but all this stuff eventually
10:52 Trends to zero against Bitcoin uh
10:55 because it doesn’t have the monetary
10:56 properties of Bitcoin and it doesn’t
10:58 have the utility of Bitcoin so um anyway
11:00 I don’t know who’s buying this stuff but
11:03 people apparently are dumb enough to buy
11:05 almost anything because people are still
11:07 buying xrp it just it boggles the mind
11:10 and people apparently are still buying
11:12 bch even though it was never even
11:14 mentioned by Donald Trump or anybody and
11:18 again all I can figure is that they
11:20 think maybe the US government’s so dumb
11:22 they’ll actually buy the wrong one like
11:25 I I just don’t I can’t fathom how these
11:27 people think it just makes no sense to
11:28 me but anyway have a great day everyone
11:31 and buy only Bitcoin BTC the real
11:33 Bitcoin BTC have a great day everyone
11:36 thanks