Skip to main content

What You NEED To Know Before Buying Bitcoin In 2020 - Cryptocurrency

stocks gold real estate and ETFs
everyone's talking about that but what
about the Forgotten child cryptocurrency
[Music]
what's up everybody I am just buddies
sing and welcome to the minority mindset
one of the biggest things that this 2020
economic crash taught us was the
importance of having a savings cushion
wait didn't we also learn that in the
2008 crash in 2020 businesses that were
making billions and billions of dollars
a year were forced to close for just two
weeks two weeks and they couldn't find
the cash to pay their employees likewise
it became painfully apparent that six
out of ten Americans don't have $1,000
saved up to protect them from an
emergency like what we're seeing right
now that's when the savings crisis
pushed the government and the Fed to
print trillions and trillions and
trillions of dollars to help keep
businesses afloat and to give people
money to eat but there's a cost to
printing all this money I've already
talked about that cost so I'm not gonna
go over it again in this post but our
paper dollars aren't backed by gold or
silver or anything tangible our dollars
have value because the government says
they have value and people have faith in
the dollar I mean it costs 12 cents to
print a $100 bill but basic economics
will tell you that if you pump up the
supply of something like you print
trillions and trillions and trillions of
dollars the value of that thing in this
case our dollars will come down
that's what inflation is as the value of
each dollar comes down the price of
everything around you you ran to
groceries your medical bills go up and
that's why savers become losers and your
paycheck loses buying power and that's
also a big reason why the rich continue
to get richer and the poor will continue
to get poorer because the rich
understand this and they grow their
money with or faster than inflation
while the poor don't have the financial
education they need and so they continue
to get screwed over by the system
traditionally investors would protect
their cash against this type of
inflation by turning their cash into
gold but
now there's a new digital gold on the
block cryptocurrency and that's why in
this post  I'm gonna be talking about
cryptocurrency Bitcoin and what you need
to know before you buy any Bitcoin so
make sure you watch this post until the
end because I'm gonna be talking about
how cryptocurrency and Bitcoin applied
during this economic crisis but before
we get into that hit that thumbs up
below because if you don't then YouTube
doesn't share a post with anybody else
subscribe to the minority mindset
YouTube channel that way you don't miss
a new financial education posts every
single week and hit that little
notification bell too because if you
don't then YouTube doesn't let you know
when a new posts are released the
original goal of cryptocurrency was to
create a decentralized worldwide digital
currency I know that's a mouthful but
let's break it down decentralized means
it's not controlled or run by any
individual government it's supposed to
be run and managed and controlled by
people the owners and users of the
cryptocurrency it's worldwide
meaning it's supposed to be used and
accessible anywhere over the world it's
digital meaning you don't have to carry
around huge chunks of gold you could
just carry around your phone because you
can access your cryptocurrency online
and it's a currency meaning it's
supposed to be used to buy goods and
services let me give an example of how
it's supposed to work if I flew today
from America to India the very first
thing I would do is first probably buy
some gloves and a mask but then I would
have to go and exchange my United States
dollars for Indian rupees because in
India they exchange rupees and in
America we exchange dollars with
cryptocurrency you wouldn't have to do
that because one Bitcoin in America is
the same as one Bitcoin in India which
is the same as one Bitcoin anywhere in
the world in theory that sounds like an
obvious solution but there are still
some pretty big roadblocks ahead I mean
for one if people started to widely use
cryptocurrency that would mean that
governments would lose their power and
governments don't want that I mean
remember cryptocurrency is meant to be
decentralized meaning not controlled by
governments and two people aren't widely
accepting cryptocurrency as a means of
exchange yet if any government lost
control over their monetary system that
means they would lose their
power and influence over the world and I
don't need to tell you that no
government would want that secondly if
you go to a Walmart in Alabama today and
you picked up a roll of toilet paper
that cashier is not gonna accept gold in
exchange for the toilet paper that
cashier is not gonna accept Bitcoin for
the toilet paper that cashier is going
to accept dollars or digital dollars
through your credit card for that toilet
paper so while the concept of
cryptocurrency makes sense intuitively
it's not there yet practically speaking
however that doesn't mean that
cryptocurrency won't be used in the
future somebody say back to the future I
mean you can just see how cryptocurrency
has evolved and changed in people's
minds just over the last few years like
back in 2016 and 2017 cryptocurrency was
almost taboo like even JPMorgan Chase
Bank CEO Jamie Dimon came out and he
said that cryptocurrency doesn't make
any sense and everybody who owns Bitcoin
is stupid and then a couple years later
that very same CEO Jamie Dimon secretly
changed his mind on cryptocurrency and
he spent tons and tons and tons of money
creating his own cryptocurrency the JP
Morgan coin yep
Plus Facebook is creating their own
cryptocurrency Libre and Amazon isn't
talks of creating their own
cryptocurrency and now pretty much every
banker and politician takes
cryptocurrency and Bitcoin a lot more
serious now
this drastic shift in thinking makes
cryptocurrency investors really excited
because this opens up the possibility to
using cryptocurrency as a real currency
in the future plus unlike our paper
dollars which can just be printed at the
click of a button
many crypto currencies like Bitcoin
can't like there's a limit to how much
Bitcoin can be created or mind and right
now that limit is 21 million bitcoins so
after 21 million Bitcoin are mined there
is no more Bitcoin that can be created
that's it that's the maximum number of
coins that can be mined that means
there's a limited supply of Bitcoin and
certain cryptocurrencies out there so
you can't just print a whole bunch of it
like you can a dollar making
cryptocurrency sort of like gold in that
sense so what people are they
is if the demand for cryptocurrency and
Bitcoin goes up well there's a limited
supply of Bitcoin out there that would
make the value of each Bitcoin go up -
by the way if you were wondering you
don't have to own a whole coin you can
own just a small fraction of one coin
now on the flip side remember
crypto currency like Bitcoin is supposed
to be a currency something that you use
to buy goods and services with but many
people treat it like a get-rich-quick
scheme so make sure you're aware of what
you're trying to do can you make a lot
of money with crypto sure I mean lots of
people have made a lot of money with
crypto and people have made a lot of
money trading currencies but like any
other investment it comes with risk and
you can lose money too cryptocurrency is
still a very new concept which is one of
the reasons why it's so volatile that's
why you can see crypto currencies like
Bitcoin skyrocket and then come down
just as fast before I get into buying
cryptocurrency during this environment
you're probably wondering how do you
actually get your hands on Bitcoin or
cryptocurrency well you have to use a
crypto currency broker which is similar
to a stock broker
but cryptocurrency brokers aren't as
regulated as stock brokerages so you
want to make sure that the
cryptocurrency broker that you're using
is one not a scam B not gonna screw you
over and C will protect your investments
your assets or your cash that's why if
you are interested in purchasing Bitcoin
or cryptocurrency I recommend our
sponsor coin base because they are
actually insured their accounts are safe
and they're one of the largest
cryptocurrency platforms on the planet
all you have to do is create a free
account fund it and then you have a
whole list of cryptocurrencies as you
can buy like Bitcoin and the best part
is that right now coin base has a
promotion going on where they are giving
minority mindset fans ten dollars worth
of Bitcoin for free when you invest a
hundred dollars into Bitcoin so if you
all learn more get started and get your
free ten dollars I got the link tor you
can do that in the description below
minority mindset is a partner with coin
base so if you use them we will get
compensated but there's no additional
cost to you it's free to open an account
so if you want to get your ten dollars I
got the link to where you can do that in
the description below now let's talk
about how cryptocurrency matters in
today's economy the United States and
countries all over the world are
printing tons and tons of cash to keep
their businesses and people afloat right
now but like I said in the beginning of
this post this printing of cash has
consequences for one the United States
is racking up trillions and trillions of
dollars worth of debt that they'll
probably never pay off and two people
are worried about the devaluation of
their currency
remember our paper dollars aren't backed
by gold or silver they're backed by a
promise and faith behind our US dollar
right now there is a ton of faith behind
a United States dollar which is great
news for people who have the United
States dollar but there's no guarantee
that this faith will always be there in
the future especially if the United
States government and the Fed keep
printing an unlimited amount of cash the
last thing you want to happen is you
spend your whole life working for
dollars saving dollars and investing
dollars thinking that's the right thing
to do and then you find out that dollars
have become worthless I know it's an
extreme example but it has happened in
other countries and it pays to be
informed
like I've said and other YouTube videos
a smart financial planner will always
hope for the best but be prepared for
the worst and as much as people ask for
the United States to go back to the gold
standard it will never happen I mean if
that happened the Fed would lose their
power to print an unlimited amount of
currency and it would be nearly
impossible to get the government to
agree to that
that's where cryptocurrency comes in to
kind of fill that void if it ever got to
the point where people just got so fed
up with the system that they started to
use cryptocurrency amongst themselves as
a means of exchange so not through the
government then that would kind of be
like the people creating their own
digital gold standard from the bottom up
from the people up instead of from the
top government down again that's just a
hypothetical remember the point of
crypto currency like Bitcoin was to
create a decentralized currency that
can't be printed with the click of a
button that's what makes crypto currency
like Bitcoin more like gold than paper
dollars and environments where the Fed
is printing trillions and trillions and
trillions of dollars makes
cryptocurrency
more attractive to the general public
it's kind of like what happens when oil
prices go up when oil prices go up the
price of gas goes up and people get
upset when they have to pay $100 to pump
the gas and that makes the demand for
alternative energies go up too when the
government prints huge sums of cash that
makes people really worried about the
value of their savings because they
don't want to see their savings go to
nothing with huge inflation and that
makes cryptocurrency more attractive you
should also understand that all
cryptocurrencies aren't created the same
like bitcoin is the poster child of
cryptocurrency but bitcoin isn't a very
practical currency because it's slow and
expensive to exchange however because it
is the poster child of capital currency
if the demand for cryptocurrency goes up
there's a good chance that the value of
Bitcoin would go up too but even if
cryptocurrency becomes more attractive
you still have to deal with the
roadblocks like you have to deal with
the government you have to deal with
people and businesses not accepting
cryptocurrency yet and you have the
learning curve just like how people were
very skeptical and hesitant to buy
things and spend money on the internet
back when the internet was becoming
popular people still don't trust the
Internet as a place to store their money
like you can see and touch gold you can
even see and touch your cash even though
it's not backed by anything but you
can't see or touch your crypto currency
or Bitcoin so there's still a learning
curve involved does that mean it's
impossible no I mean people thought that
the idea of an automobile was silly if
you could just ride around in your horse
so there's a lot of potential upside
with cryptocurrency if it becomes widely
used and the demand for cryptocurrency
goes up but like with any other
investment it comes with this fair share
of risk too that means don't get
emotionally attached do your research
and make financial decisions and the
best way to make financial decisions is
by staying up-to-date on what's
happening in the finance and business
world and if you're looking for an easy
way to do that well we have the free
minority mindset newsletter where our
team first breaks down the top finance
and business news and then we show you
how this news affects your wallet this
newsletter is completely free and you
can join our free finance and business
newsletter by clicking the link up here
or by clicking the link in the
description but
thank you for watching if you enjoyed
this post share with one friend that
would help spread the word if you want
to learn more about what happens when
you print too much money and the cost of
printing money I have a new post on it
and you can watch this post on YouTube
by clicking this button right over here
thank you for watching and as always
keep hustling

Comments

Popular posts from this blog

Earn $50.00 PayPal Money FAST! (Make Money Online)

earn up to $50 in paper money in this Post  we'll take a look at how you can earn up to $50 directly into your PayPal account now take a look at this $50 directly into your PayPal account that sounds interesting right well this is easy to do and I'll show you all the details in this post let's get started hi there my name is URI from the make money online website and I'm really excited to show this method to you now let's get right into it okay so this method is actually available in lots of countries I'm not sure if it's worldwide but I do for a fact note that this is actually available in lots and lots of countries now this is also super easy to do and by that I really mean that it's easy to do literally anyone can do this and this is also beginner friendly now you don't need any skills or experience and you don't need to invest any money into this method and that's the reason why this is actually beginner friendly and why almost anyone can do this now in this pos…

How to Make Money on Instagram

so what's going on guys in this Post  we'll be going over a way you can make an extra hundred dollars a day at any age anywhere in the world through Instagram so as I just stated in this Post  we'll be going over a little finesse scheme a little business model that you can use to make some decent money I know what you're thinking you'll be a hesitate like button but I have a question I'm not a little pump I'm not Bobby shmurda I got no bars how am I gonna I'm not famous on Instagram how am I gonna make money that's the beauty of the strategy that I'm gonna be talking about today it doesn't matter who you are it doesn't matter what age you are you can use this to make money and this is done through something called Instagram themed pages if you don't know what that is it's basically where a certain individual will start a page Instagram page and a specific niche say it's cars Fitness fashion means anything and they'll start reposting people's …

How to Make $100 a Day Amazon Associates Affiliate Marketing

in this post  I'm gonna share how I've been able to make over $100 per day with Amazon Associates affiliate marketing I've actually been able to make over $3,000 in a single month back in December of 2016 so quite a few years ago so I'm going to share some few helpful tips that can help you guys out with Amazon Field marketing today so continue reading  hey what's up ODI productions here back with another affiliate marketing Post  if you're brand new to the website my name is Odie and I am obsessed with passive income through the business model known as affiliate marketing I love entrepreneurship and I also love cars so if you're interested in any of that make sure to check out my other Posts and subscribe for more content because I'm making new posts every single week now the topic of today's Post this is a fun one we're talking about Amazon Associates and have been able to make over a hundred dollars per day that's over three thousand dollars a month and you know t…