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