Comments by "Austin Kole Carlisle" (@AustinKoleCarlisle) on "🔴Bitcoin pumpers forced to admit it's not digital gold - Ep 537" video.

  1. Bitcoin isn't the only crypto to exist, there will always be competing cryptos that will drive down value. You bitcoin bots seem to ignore this major oversight, it doesn't matter if there's "built-in deflation" when there are 1000s of competing currencies driving down the value, ultimately to ZERO.
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  2. if bitcoin were only worth 50 cents, would you still be claiming Peter is wrong? just because bitcoin has a lot of speculation behind it, doesn't mean it's a stable currency. it's pure speculation and nothing more. have fun.
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  3.  @thanasispanification  beanie babies were also the "perfect investment"--until they weren't.
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  4.  @thanasispanification  newsflash--bitcoin is only as valuable as it's popularity, there is nothing inherently unique about it, anything it does can be accomplished by another crypto. since this subverts the supposed "built-in" deflation, there is a net downward pressure on prices, but bitcoin is still valuable due to being the first major crypto along with huge speculation behind it. once the hysteria dies down the price will eventually return to which it started--ZERO, it came from nothing, it will return to nothing. contrast this with precious metals, that came from a supernova and only have a limited amount in the earth's crust, that is true scarcity, and each metal has unique properties unto itself. don't get me wrong, i'm all about disrupting the fiat-based central banking system, but crypto isn't the solution--it's the solution for people who want a solution, but who don't have an idea of what constitutes "value" creation.
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  5. people said the same thing about beanie babies. why is it different this time?
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  6.  @pgaquigz1125  so bitcoin is only as good as it's speculative value? would you be just as fanatic about it if it were worth 10 cents?
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  7. ​ @thanasispanification  just because Bitcoin is the most popular "name-brand" crypto doesn't mean it's going to be that way in the future. remember when myspace was bigger than facebook?
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  8. over time, gold maintains value.
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  9. with infinite competition thereby diluting prices.
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  10.  @thanasispanification  people also choose to participate in a ponzi scheme, that doesn't make the ponzi scheme legitimate.
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  11.  @thanasispanification  just because blockchain is valuable doesn't mean any particular cryptocurrency is valuable. a crypto is only as valuable as it's speculative ability, nothing more.
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