Comments by "Austin Kole Carlisle" (@AustinKoleCarlisle) on "🔴 Multiple bubbles pricked by same pin - Ep 541" video.

if bitcoin was a monopoly, yes, your logic would be sound. but competition exists with cryptos, and competition lowers prices. basic econ. so much for built-in deflation. add to this that bitcoin has name recognition and ridiculous speculation and that's why the price is so high. this is unlike precious metals, precious metals have a limited supply.
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If you knew anything about value creation, you'd understand why Bitcoin is completely speculation and nothing more.
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bitcoin is riding a huge wave of speculation and name recognition. everyone wants to sell to a greater fool in the future. don't get left holding the bag.
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@jpmtaraujo people value the hope of selling bitcoin at a greater price in the future, they don't inherently value bitcoin. that makes it purely speculative and nothing more. if you want to play the crypto lottery go ahead, but don't say I didn't warn ya when you're left holding the bag.
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@jpmtaraujo gold isn't an investment, it's insurance against dollar devaluation. and since when is a tech that can be replicated to infinity considered "disruptive"?
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something that was created from nothing is the future? only a dystopian one. here's a hint, if it was created from nothing, it's inherent value is ZERO and any price value is complete speculation. contrast this with precious metals that are limited in their supply.
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@jpmtaraujo don't compare it to precious metals, there is a limited supply of precious metals in the earth's crust. cryptos can be replicated forever--created out of nothing.
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@AltumNovo the labor theory of value was debunked hundreds of years ago. just because work is being done does not make something valuable. gold (elements) can only be created in a supernova.
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@jpmtaraujo listen, bitcoin isn't a monopoly. bitcoin isn't comparable to the internet, it's more comparable to a website. bitcoin is only as valuable as it's speculation....what happens as people slowly stop speculating on it? the value goes down to zero. speculation can't be the only reason something has value. if bitcoin was the only crypto to exist, I would agree with you, but the fact remains that competition exists and competition will drive the value to zero.
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