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Pumpamentals. What actually makes the price go up Improve Bitcoin The secrets pumpers dont tell.


Pumpamentals. What actually makes the price go up Improve Bitcoin The secrets pumpers dont tell.

What actually makes the price go up? Improve Bitcoin? The secrets pumpers dont tell. Hows it going out there? Its nice to have a microphone.

Its nice to see all you guys Theres a lot of girls here for some reason. I love this clicker. Youre only going to see one thing that. I dont need a script to speak to you.

Everything that I say is from the heart. You get the pun. I hear a lot of people talking about how blockchain is going to change the world.

Blockchain has been around for 10 years. It hasnt changed much. People could use it on the Darknet. People could use it to try and send some people money. What they find is that it doesnt work that well.

So lets talk about the Darknet. People go on the Darknet. Why are people on the Darknet instead of the Clearnet because they want to do things that other people dont want them to do They want to buy porn that people might not like, they want to buy drugs that people might not like They dont want to have those things tied back to them.

So why are they using Bitcoin? Because its censorship resistant So if you need censorship resistance, the blockchain is a fantastic way to get it. It might be the only way to get it How many people really need censorship resistance? Statistically?

Well, how many illegal drugs do people buy a year? Its a small percentage of their expenditures per year So if you look at the market cap of Bitcoin Which theres 18 million coins.Theyre about 8300 dollars a coin currently Youve got a market cap just over, you know, 110 billion something like that What percentage of those billions is from people that need censorship resistance? 4 percent?

5 percent? Well, whats all the rest of the money from? Why do we have such high valuations? For the same reason Ponzi schemes have high valuations. Because lots of people buy, and they dont sell Well, its pretty good.

If you want to create a new currency new currency is only useful if it has a large market cap Wars of liquidity are what make currencies better than other currencies. Why is the US dollar the top currency in the world? Because it has the largest liquidity If you want to buy it, you want to sell it the market doesnt move against you. You dont have much slippage Its accepted everywhere. Its not the best currency because they keep printing it all the time But its better than all the other crappy currencies that they print more of every year and so a lot of people have Shorted the dollar and been destroyed because they forget that the other Things the dollar trades against are crappier for the most part Gold was crappier for the most part for a long time.

It had its peak at about 1900 dollars in US Dollar to Gold pair per ounce in 2011. Now, its 2019. Its been eight years Just this year it went up 30 percent. It still needs to go up another 30 percent to get back to the alltime high that it had, right?

And this is known as the most stable currency that you can get Its so stable that the central banks of countries buy it to secure themselves against existential risk, right? so in Europe you guys tend to have a couple wars every once in a while here last hundred years or so and Whoever held the gold got to recover the best when it was all said and done, right? So what I tell this to you guys You know Bobby Lee come up here and told you, you know dont sell until its 700, 000 a coin or something like that Its a strong statement, right? It turns out that in the real world, everything is an Scurve. There is always something that caps your adoption Nothing goes up forever.

Could Bitcoin become 700, 000 dollars a coin? Sure Its very easy to do if the Dollar becomes worthless, right? Then 700, 000 US dollars a coin isnt that much because the Dollars not worth that much You dont want to live in that world, right? You dont want the entire world to burn But you have a larger slice of a smaller pie.

The worlds better off if we have larger pies So in my belief system, the best thing a cryptocurrency can do is go up in value. Crypto has been around for ten years. Just for fun.

How many of you guys used Bitcoin today? This guy almost raised his hand, that guy raised his hand. Id say theres maybe a 100 people here So thats one and a half a percent.

Maybe used Bitcoin, right? Why? Because its not that useful, right? If you want to buy something with Bitcoin They cant rebill you, right? You can only pay them once you want push the payment so that breaks any subscription model.

Cant do it. Then that guy if he wants to rebuy his Bitcoin he has to pay, if hes on Coinbase, half a percent fee to get in Or he goes to an ATM and he pays a 10 fee to get in to replace his coins Now when he sends his coins to that company that he paid a percent to ten percent to get He cant charge them back if they screw him. And he doesnt get any reward points and he cant do rebilling Which is the reason we dont have adoption for this stuff. Now I tell you the truth about Bitcoin.

Which most people do not want to hear, because all of you guys either own crypto or want to, thats why Youre here, right? You have to understand that even though it cant cure cancer Its still the highest fastest appreciating asset thats ever existed and that should be enough for you. It doesnt need to cure cancer.

It doesnt need to actually do payments well. Were lucky that it does store of value well enough. Now, how much is store of value worth? Golds worth nine trillion dollars. Nine trillion.

A couple months ago earlier this year, it was worth seven trillion Its up 30 this year. Thats a lot of money. Do you think if you bought gold? Youre going to get a 10x return on investment?

Do you think its going to go up to 90 trillion anytime soon? Nope. Its unlikely, why? Because the larger economic mass that exists the harder it is to move it the harder it is to get really insane returns. Now I got into Bitcoin and mined full blocks myself without pool, right Because back then there were so few people involved that you could just turn your GPU on and mine as many coins as you wanted That phase died very shortly after I got into it got very hard to make coins It got so hard to make coins.

You cant make them with GPUs anymore, which is a problem, right? If the only thing that Bitcoin does well is censorship resistance and appreciate because most of its for speculation Well, that means that Having centralized miners control who can join the network is terrible theres only four companies in the world that you could probably buy a miner from and attempt to be cash positive over buying Bitcoin. Bobby Lee says China is not where theyre at. China is where all theyre at.

China is where all the mining is at. China is where all the manufacture is at Chinas where all the skilled labor is at. Chinas where affordable electricity is.

Which is why all the mining is in China on top of the fact that they have currency controls there. Which makes it so that you cant send money out of the country You have a cap on how much you can send, unless you can get into crypto and get around it And so its the perfect storm of all of crypto being successful in China more so than anywhere else. Because of capital controls.

Because of skilled labor. Because of electronics manufacturing in Shenzhen and because they love gambling over there and because speculation is such a large component of cryptocurrency valuation, the Chinese run it. There was a token called PlusToken in China that owns 1 of all Bitcoin now Straight Ponzi scheme Ponzi scheme is where they promise you that theyre going to return you a lot of money But they dont actually do it. They run out of money They pay you, they get new money from these guys They give it to the old guys, but eventually they cant do that anymore And then they just exit scam with whatever money they had.

These guys exit scammed with a billion dollars They have 200, 000 Bitcoin. Theyve got I think 600, 000 Ethereum They also got a lot of EOS and other stuff. Now those founders got arrested and extradited to China I think the main guy is still free And it sucks for me because I want to know where their coins are so that I can stop them from claiming HEX.

Because I dont want to give them free money, right? Ill give you an example. So what does this mean?

I think that you can build a better Bitcoin. I think that Bitcoin has a lot of problems Ive been in Bitcoin since the beginning. Im an expert on it and Theres things that I wish it could do better, right? The mining ecosystem is terrible. What are we doing in mining?

Were protecting ourselves from what? The miners themselves. Its a protection racket. Its a scheme The only people that can attack you are the same people that youre paying and saying Please dont attack me. And what do they do with that money?

They take that money in Bitcoin that they mined, they sell it on the market, pushing the Bitcoin price down. To give it to electric companies to pollute the environment. Now we have to do that in Bitcoin because thats the security model.

We use proofofwork. But theyre overpaid and theres a lot of cryptocurrencies that move a lot of value that produce less waste and less pollution, right? So lets do a thought experiment.

If we wanted to generate a new cryptocurrency With the goal of appreciating faster and higher than any other crypto had ever done before, how would we do it? Well, wed need a lot of people to buy it, right? Well, whos the easiest people to get to buy crypto?

People that already have crypto. Because they cant spend it anywhere else and They want to make more ROI And if youre a Bitcoin holder The only way for you to get more coins is to lend them out on exchange and take the chance You never see them again. Exchanges get hacked all the time, right?

You can lend your coins out Hope you get more, now youre making a return on your Bitcoin. What else could you do? You could sell your Bitcoin and hope that by buying mining hardware you get more Bitcoin later? It never works it absolutely never works you can go back through history and Pretend that you bought coins or hash rate at any point and the coins always win, because the coins start appreciating The minute you buy them and with the hash rate you get your coins later When the price is far higher and you get far fewer coins? so What if we could get rid of the miners? Not pay them block rewards, piggyback on top of Ethereum where theyre doing trustlessness for free If you pay a couple pennies for an Ethereum transaction, youre not getting the transactions rolled back.

Youre not getting 51 attacked Its totally secure. Four of the top ten crypto currencies in the top ten market caps were launched as ERC20 tokens EOS, TRX, BNB Ethereum itself, more or less So if security and trustlessness is already free why should we over pay it with block rewards Why dont they just make their transaction and thats enough, right? What else could we do? Well, how do we onboard all those crypto users that have crypto?

We give them free crypto, just like Bitcoin cash did over a billion dollar project Just like Lumens did over a billion dollar project. Just like XRP did a over billion dollar project When you go through the top ten coins giving free coins to people is a wonderful way to onboard them Like freemium, like coupons and then they buy more because they like it, right? We can also attack a larger market.

Can Bitcoin do all of Finance? No Why? Because they only can give rewards to miners, and they dont care about things like holding. In the real world We care about holding. If you go to the bank, what are the top three most successful products at the bank?

Savings account, checking account, time deposit, CD certificate deposit. You lock up your money They give you a better interest rate. Do we have that in Bitcoin?

Nope. Why? Because you can lock up your money, but you wont get any rewards you wont get any benefits from it You just wont be able to spend your money. That sucks So what if we control the supply?

And create a smart contract that says when you lock up your money You get all the inflation. You get all the new coins. Not the miners Now youre paying people to hold the price up Because they cant sell the locked coins, and Bitcoin youre paying miners to dump the price. To buy electricity to pollute the environment.

Its the exact opposite. So we reduce the price pressure from miners selling. We give free coins to Bitcoin users. If you guys have Bitcoin you be able to claim these for free trustlessly. Its not an airdrop.

Nobody hands you the coins. Its not a fork. Theres no Bitcoin code in it. You can read the code. Its on the website Giving people free money is a very easy sales pitch, right?

Now how do we get rid of the whales? So, for instance, Bitcoin Cash gave the MtGox trustee 190, 000 Bitcoin Cash. Legally. all he could do was dump them on the Bitcoin Cash holders heads, and thats what he did He sold 40, 000 Bitcoin. He sold 40, 000 Bitcoin Cash He dumped the price of both things and how was the world better for it?

The world was worse for it. So we removed that guy We dont let him claim we know his addresses because theyre in the court documents, but if I find the PlusToken people Ill remove them too, but they keep moving their coins around so Im probably going to fail at it. Regretfully.

Those guys dont need any more money. They already have 1 of the total Bitcoin supply from scamming. Its just tragic. Its funny when you start counting what percents of Bitcoin are owned by other people. 1 is owned by PlusToken, 1 is owned by the Winklevoss twins, 6 is sitting on exchanges I know the addresses of.

Maybe 40 is lost and Satoshis holding about 5. Hes got a million coins and theres 18 million total I hope Satoshis kids are nice people if he gives his coins to them Im up here defending Bitcoin rather regularly from attackers inside and out. I dont see Satoshi doing the same thing I dont see him writing improvement proposals I dont see him letting people know that the real Bitcoin has the BTC ticker and no other ticker. It bothers me too, a bit.

In my opinion, hes either deceased or cowardly. There are other founders that have started cryptocurrencies with multiple billions of dollars of valuation, that dont hide away like cowards Theyre out there speaking publicly, like Vitalik, right? Vitalik founded a currency, speaks publicly, improves it, markets it. He does a great job with it.

Satoshi, hes doing none of those things, not writing code, not publishing. If hes alive, he owes us more than what hes doing. So what else could you do to make a currency go up? Well make it so people dont want to sell it, right?

So if you give people a bunch of free coins, and the price goes up really high Well, weve had that, thats a bubble. Well, how do you get it so it never goes down? Time locking, right? So this is the first currency that well have a chart of future market supply which has never existed before.

In Bitcoin you know what the future total supply is, but you dont know when Satoshis gonna dump on you You dont know when Gox is gonna dump on you You dont know when the Ponzi schemers are gonna dump on you. And if they told you, you wouldnt believe them. In this system when people lock their coins, you know when everyones coins are coming out of stake So, you know whether the price is likely to go down when those coins become available or not And since everyone knows what the future looks like, you should get less volatility Up volatility, everyone loves. Down volatility, people dont love I bought Bitcoin at 30.

It went down to one. Went down to a penny on MtGox was the only exchange at the time That sucked to hold from 30 down to a penny. And then I held it all the way from 1, 200 down to 266. Then at 20, 000 got a little bit smarter told people to short at 19K, told them was a very good deal to short at 19K Called the 20k Christmas several months earlier about 3K or 4K Which you guys know if you are on my YouTube channel, http:YouTube.comRichardHeart Or my Twitter account http:twitter.comRichardHeartWin So I think Bitcoin can do a lot of things better than it does. Are any of you guys Bitcoin miners in here?

Youll never meet them. They wont speak to you. They dont care about you.

They wont talk to you on Twitter. Theyre not your friend. They do not help the price.

They sell the coins. Miners are not your friend. I think mining GPU, which is what you can do on Ethereum, is way better. All of you guys have a game computer or a laptop with a article card in it, you can mine Ethereum and actually be part of the network.

If you want to mine Bitcoin, you cant. You have to beg some foreign national company to maybe send you the machines when they can still make profit and not waste all of the The first week that you receive a machine is half of the profit the machine will ever make because mining difficulty is at alltime highs, but the price isnt at alltime highs. The Price was 20k. Now its 8k. Thats not all time highs.

Thats one third of all time highs, right? What else can you do to make a coin go up more? I guess you could do fake partnerships with, you know, companies. Like theres a lot of companies that say Oh were teamed up with McDonalds. No, youre not.

You shop at McDonalds Youre not teaming up with McDonalds. Right? Were working with IBM. Oh, yeah, what good thing did they do?

Hows Watson working out? No, no Watson anywhere? Scam.

Hype.Yep. Lots of hype, lots of scam, right? What else can you do to make a currency go up? Fix unit bias Nobody wants to pay .032 for something.

People hate decimals. You should have more units. Referral program, right?

Amazon has a referral program Tesla has a referral program Ponzi schemes have referral programs. Does Bitcoin have a referral program? Nope.

Which is why I dont see any ads, because no one can make any money bringing you on to Bitcoin. It Sucks. So when you go on your Facebook you go on to Google and all you see is people that run Ponzi schemes that have high margin Every dollar they get is a 100 margin.

They can invest nine out of ten dollars they get into marketing and still be cash positive. You cant do that in Bitcoin. Youve got very very low margins. The only ads you might see are from exchanges that screw you with fees Well, thats all the opposite of what Bitcoin is built for.

Bitcoin is built to be trustless It was meant to get rid of counterparties. The only people who have gotten extremely wealthy on Bitcoin are holders and Exchanges that beat you up with fees and token founders. Right, thats it.

Those are the only people that really really kill it in crypto. Everyone else has a hard time the guys at Paxful it looks like they do a good job, right? Are you trying to do questions? You guys want to do questions?

You guys seem tired out there? Ill try it but if your questions suck, Ill just finish out my two minutes talking. Any questions from the audience? Can you to think of any way to make a currency better than Bitcoin?

Heres your chance to say how. Nobody? You guys just all love Bitcoin? Its perfect?

No better currencies? I met a BSV Maximalist last night. I know theres people that like things other than Bitcoin in here. Nothing?

All right. Well go to Were launching in November. Claim your free coins. Enjoy your free money.

When you claim, 90 of them are Autostaked so you cant dump. You have got to wait till the end of the year. Your referrals, if you refer people, you can dump those whenever you want.

10 of your claim you can dump whenever you want.i Its designed to appreciate, right? Its trustless. The codes been audited twice I dont know of any other project thats been audited twice.

Bitcoin hasnt. Ethereum hasnt.p

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