Do NOT invest in “alt coins!” Altcoins will make you POOR Invest only in Bitcoin BTC!

00:01 coins. Altcoins are alternative coins, 00:04 which means any coin other than Bitcoin. 00:07 There's another more common term for 00:09 altcoins, which is I'm not going to say 00:11 it out loud, but they're called 00:14 coins. You can spell that one out 00:16 yourself. Um, SHITcoins, which are also 00:19 known as altcoins, are all the junk 00:22 tokens that are full on cryptocurrency 00:24 platforms where they make a ton of money 00:26 by people like you buying and selling 00:29 these tokens, but they don't actually 00:30 have any underlying value. So, what 00:33 happens every time Bitcoin starts going 00:35 up aggressively for long enough, 00:37 everyone starts assuming altcoins, 00:39 because they're smaller, their value is 00:41 lower, will go up faster. And so 00:44 inevitably, people by the millions have 00:46 the same idea, which is, okay, we know 00:49 Bitcoin's really the only one that has 00:51 long-term value. But if these other 00:53 tokens are going up faster in the near 00:55 term, then why don't we buy these junk 00:58 tokens and then ride them up like a 01:01 wave, jump off at just the right time, 01:05 and buy Bitcoin with the proceeds, and 01:07 we will end up with more Bitcoin. It 01:09 never works. People get burned all the 01:11 time. Please don't do it. It's a dumb 01:13 idea. Everyone has the same idea. They 01:16 all think it's an original idea. I've 01:17 heard this idea from hundreds of 01:19 different people. And virtually all of 01:21 them, like a casino, get burned. They're 01:24 all positive. They're going to playbo 01:26 poker or blackjack or slot machines 01:28 until they're up and then they're going 01:30 to stop. None of them do. None of them 01:32 know when to start. None of them know 01:33 when to stop. They always end up losing 01:35 money. And they always come back and 01:37 say, "Well, Joel, you were right." But 01:39 and then they have some excuse of why 01:40 they would have it would have worked out 01:43 except for this extenduating 01:44 circumstance that couldn't have possibly 01:46 been predicted. And so I wasn't really 01:48 right because they did lose money, but 01:50 they didn't lose money exactly the way 01:52 they thought they might lose money. And 01:54 so they almost won. Well, same with same 01:57 with everybody at a casino. Almost 01:59 nobody who loses money at a casino walks 02:00 out and says, "I was an idiot." They all 02:02 say, "I knew I should have stopped when 02:04 I was up $250. I knew it. My gut told me 02:08 to stop, but I just I just decided to 02:10 play one more hand and before you know 02:12 it, I had mortgaged my house." So, it's 02:14 stupid. It's stupid. It's stupid. Don't 02:16 do that. Okay, but let me dig deeper 02:18 because it's one thing to just say, 02:19 "Don't do it. It's stupid." It's another 02:21 thing to understand why. So, in the 02:23 world of crypto and blockchains, there's 02:25 exactly one really provable, and that is 02:28 for decentralized money. Uh uh a non-s 02:31 sovereign neutral reserve currency that 02:34 anyone in the world can use uh as a 02:36 money that the government doesn't 02:38 control, and that is Bitcoin. Nothing's 02:40 even competing with Bitcoin for that 02:42 anymore. In fact, you'll notice no other 02:44 cryptocurrency even comp even pretends 02:48 it's competing with Bitcoin anymore. 02:49 They've all given up on even pretending 02:51 they're competing with Bitcoin. So now 02:53 they all claim that they're competing 02:54 with something else. They're competing 02:55 to be the leading smart contract 02:56 platform. 03:00 Okay. So none of these platforms and 03:02 technologies are even competing with 03:04 Bitcoin anymore. And they don't even 03:06 pretend to be competing with Bitcoin. 03:07 They're all competing to be a smart 03:09 contract or a memecoin or a stable coin. 03:11 But they all have the same problem, 03:13 which is that they're subject to 03:14 competition that doesn't apply to 03:16 Bitcoin. So, I've done a ton of videos 03:18 about why Bitcoin is different, why 03:20 Bitcoin is not is basically immune from 03:23 competition and all of that, but none of 03:25 these are the same way. So, uh, all of 03:28 these platforms compete with each other. 03:30 So, for example, uh I heard a guy on 03:33 CNBC talking about the fact that he had 03:35 invested in Ethereum because a because 03:38 the stable coin bill had just passed in 03:40 Congress and stable coins are a 03:42 cryptographic token that uh one coin 03:45 represents $1, one US dollar. There's no 03:47 reason to invest in a stable coin 03:49 because they they mathematically cannot 03:51 go above $1. And unless they're 03:53 completely broken and going to zero, 03:55 they always trade for $1. So there's no 03:57 reason to own them as an investment 03:58 asset because it's like owning the US 04:00 dollar as an investment asset. Well, it 04:02 only ever goes down and same with stable 04:04 coins. But anyway, he was saying he was 04:06 investing in Ethereum because the stable 04:08 coins were going to be a big deal and 04:10 some of them ran on Ethereum. So I did a 04:12 quick search and to find out what smart 04:15 contract platforms you can run stable 04:17 coins on. So here's the list. Now, this 04:19 is again, I don't know why the bozo on 04:22 CNBC didn't bother to Google this before 04:24 he went on CB CNBC talking about it, but 04:27 the same stable coins that he thinks are 04:29 going to be a big deal on Ethereum 04:31 already trade on Tron, Salana, Algarand, 04:34 Avalanche, Polygon, Arbitum, Optimism, 04:38 BNB, Smart Chain, EOS, Near, Stellar, 04:41 and Bass. Okay, so he's buying Ethereum 04:45 thinking, "Oo, they're going to transact 04:47 on Ethereum." Most of the USDT, which is 04:50 the largest stable coin, most of that 04:52 volume of USDT is on Tron. Why is it on 04:54 Tron? Because Tron is a cheaper smart 04:56 contract platform. So all of these smart 04:59 contract platforms are trending toward 05:02 basically zero because they're all 05:04 trending toward the price of running the 05:05 platform. And there will always be a 05:07 newer, better, cheaper, more centralized 05:10 smart contract platform that you can run 05:12 this stuff on. So, I don't know why 05:14 anybody would buy Ethereum or Salana or 05:17 anything else assuming that this stuff 05:19 is going to be a big deal because there 05:21 will constantly be a a new string of 05:24 smart contract platforms that you can 05:26 use that are cheaper and um you know, 05:29 cheaper and faster and better. And 05:31 there's there's no network effects with 05:33 a smart contract platform. If you want 05:35 to use a smart contract platform for 05:37 decentralized finance, which I'm not 05:38 even going to go into, it's almost 05:40 entirely smoke and mirrors. But if you 05:42 want to do that, you're always going to 05:43 use whatever's good enough. There's no 05:46 reason to use one platform versus 05:48 another as long as the technology is 05:50 good enough and it's cheap. So there's 05:52 just no reason to believe that, you 05:55 know, any of these is a good investment. 05:57 Um, so if you're buying, for example, on 05:60 here, if you're buying uh if you're 06:02 buying Salana because you think, well, 06:05 Salana is the hot new platform, guess 06:07 what? It was Ethereum before that. It'll 06:08 be Sooie after that. It'll be Tron. 06:10 It'll be like it's just a constant 06:12 revolving door of platforms that all get 06:15 made obsolete by the one after them. And 06:18 if you don't know for a fact that that's 06:21 not going to happen to your favorite 06:22 altcoin, I promise you it will happen to 06:24 your favorite altcoin. In addition, all 06:26 of these altcoins are trending towards 06:28 zero because again, there's no reason 06:30 for a smart contract platform to be more 06:33 valuable than the price of running the 06:34 network. Because if it's more valuable 06:37 than the price of running the network, 06:38 it will be outco competed by another 06:40 smart contract platform with lower fees 06:43 because you're not going to pay $20 to 06:45 transact on Ethereum if you can pay 2 06:48 cents to transact on Tron. And so it's 06:50 just a perpetual race to the bottom. So 06:53 somebody mentioned to me, they were 06:54 like, "Yeah, but what what about the 06:55 fact that uh uh Black Rockck is doing 06:57 this tokenized uh platform and it's 07:00 going to be a huge deal and it's 07:02 tokenized at real world assets, blah 07:04 blah blah." and they had just announced 07:05 that they were coming to Salana. And so 07:08 some people were like, "Look, this is 07:09 going to be a huge deal. Salana, they 07:11 picked Salana. It's a huge they picked 07:12 Salana. Black Rockck picks Salana." 07:14 Okay, so I did a quick Google search 07:16 because as my kids know, if you ever 07:19 have an idea, run it by Google. 07:21 Actually, start with chat GPT. Chat GPT 07:24 is way better. Start with chat GPT, then 07:26 Google, then YouTube to find out the 07:28 truth. And in this case, because you're 07:30 not like trying to figure out how to do 07:31 something, it would be primarily chat 07:33 GPT and Google. So a quick chat GPT 07:35 tells me that before before uh BlackRock 07:39 chose Salana to list their uh this 07:42 tokenized security, it was already 07:45 meaning they had already listed it on 07:47 Ethereum, Polygon, Aptos, Arbitum, 07:51 Optimism, Avalanche, and now Salana. 07:54 Okay, so this thing's already trading on 07:57 Ethereum, Polygon, Aptos, Arbitum, 07:60 Optimism, and Avalanche. And then they 08:02 announce it's coming to Salana and 08:03 people are like this is a huge deal. 08:05 It's coming to Salana. Salana is the new 08:07 platform. It's like seriously why is 08:10 Salana the new platform if before Salana 08:13 Black Rockck chose Ethereum, Polygon, 08:16 Aptos, Arbitum, Optimism, and Avalanche? 08:19 Before Salana, it's just going to keep 08:21 happening over and over and over. And 08:22 nobody who's invested in the stuff can 08:25 articulate to me why the token that they 08:27 think is going to go up faster than 08:29 Bitcoin is not going to be made obsolete 08:31 by another token. Now again I have done 08:34 numerous videos on why that dynamic does 08:36 not apply to Bitcoin. In the case of 08:39 Bitcoin, what you're going for is 08:40 security and decentralization. Uh the 08:42 implementation of Bitcoin is such that 08:45 you cannot make a blockchain that is 08:48 more secure and more decentralized than 08:49 Bitcoin. And if you need to scale it, 08:51 you can scale it with things like the um 08:54 the lightning network. So with Bitcoin, 08:57 you get the best of all worlds. You get 08:58 the scaling with the lightning network 08:60 and other layer 2 solutions, and you get 09:02 the security and decentralization, which 09:05 is the only thing that really matters 09:07 for a decentralized money is 09:08 decentralization and security. So 09:11 Bitcoin already nailed that. There's no 09:13 way to upgrade Bitcoin because the 09:15 things that matter for a decentralized 09:17 money are already a 10 out of 10 or a 09:20 100 out of 100 or whatever you want to 09:21 call it. And the only things that could 09:24 be improved about Bitcoin come with 09:27 fundamental flaws that cause them to be 09:31 inferior. So for example, if you 09:32 increase the privacy of Bitcoin, you 09:34 make it less likely that uh platforms 09:36 will list it because criminals are more 09:38 likely to use it. So Bitcoin has good 09:40 privacy. Now if you make it completely 09:43 anonymous then criminals can use it and 09:46 then that that's why uh platforms will 09:48 not list things like uh oh what is it uh 09:53 I forget the I forget what the token is 09:55 that like the privacy token Monero 09:57 that's what it is XMR the XMR token is 10:00 not listed on any major platforms 10:02 certainly not for the United States 10:04 because it's too anonymous and criminals 10:06 use it too much Bitcoin criminals tend 10:10 to not use Bitcoin unless unless they're 10:11 stupid because if you get a warrant, you 10:13 can figure out who owns the account 10:14 behind it uh from law enforcement at 10:17 Coinbase or wherever, which is again is 10:19 a good level of security. It's the 10:21 amount of it's the mass it's the maximum 10:23 amount of security and privacy you can 10:24 get without becoming a haven for money 10:27 laundering and illicit activity. So 10:30 everything that every choice that 10:31 Bitcoin made made it optimum as money. 10:34 And you can't upgrade something that's 10:35 already perfect as money. These smart 10:38 contract platforms can always be 10:39 upgraded by something that's faster, 10:41 better, cheaper, and that will continue 10:43 to happen forever. So, every time 10:46 somebody comes up with a new token and 10:47 they're like, "No, the next big thing is 10:48 Sooie. The next big thing is Salana. The 10:51 next big things I look these things up. 10:52 They've all been around for years. 10:54 They've all gone up and down as people 10:55 have hyped and pumped them in their 10:58 early days before realizing that they 11:00 were just going to be made obsolete by 11:01 something else. And this goes on and on. 11:04 So, in summary, don't buy stupid stuff 11:06 that's going to zero thinking that 11:09 you're going to get out and sell it to a 11:10 greater fool. These altcoins are all 11:13 subject to being made obsolete by a new 11:15 altcoin. Virtually all of them have 11:18 already, if you look at the top 10 or 11:19 the top 20 crypto tokens 5 years, 10 11:22 years, 20 years, and well, not 20 11:24 because it didn't exist, but 5, 10, 12, 11:26 whatever, uh, years ago, it's all 11:28 different coins. They've all been made 11:29 obsolete. big hot coins from the early 11:32 days of crypto are all gone except for 11:34 Bitcoin. So, the same thing's going to 11:36 happen with the current crop of hot new 11:38 coins. It's just not worth it. So, buy 11:41 as much Bitcoin as you can, hold it for 11:43 as long as conceivably possible. 11:45 Everything else other than Bitcoin is 11:46 going to eventually end up getting out 11:48 competed by something else. And all of 11:50 these other things, whether it's a 11:51 memecoin or something, uh, you know, a 11:54 memecoin or a smart contract platform, 11:56 all of them are going to be oneuped by 11:58 something new and lose their luster, 12:00 tarnish, and fade to to irrelevance, 12:03 leaving what's what they always leave, 12:05 which is Bitcoin. So, just invest in 12:07 Bitcoin. It's really that simple. It's 12:09 not that hard. Don't outsmart yourself. 12:11 Don't cheat your yourself out of Bitcoin 12:12 by investing in junk. Have a great day, 12:14 everyone. Thanks.