Reasons why our money is worthless!

Hidden Secrets About Money, The Powers Be Don’t Want You to Know…

If you have lived in Zimbabwe between 2006 – 2010 you can attest to how it feels to have billions of dollars that are worth nothing. I was living in Bulawayo at the time and I was one of the top earning civil servants in the organization and funny enough every pay day i would join the queue at Barclays Bank to withdraw all my salary. After taking my hundreds of thousands I worked for the entire month, I would go to Tredgold (if you lived in Bulawayo you know the place). The only thing I could buy was a 2litre of cooking oil and all my money would be finished.

I would get really frustrated, to say… all my sweat and blood for the entire month only for a 2ltr of cooking oil. I couldn’t understand why all this was happening until I came across the video above… “The Hidden Secrets of Money” this really opened my eyes to the entire scam behind money.

I hope this will enlighten you too and equip you for when the government starts playing with your mind and your money…

Another article you may find worth reading is: Why is Government so Scared of Bitcoin!

ATOMIC HABITS by James Clear | Summary & Core Message

I recently read the Book Atomic Habits by author James. Clear New Year is approaching and that means it’s time to pick a new year’s resolution. If you’ve ever picked a resolution that required building a healthy or productive habit but you failed, it was because you failed to make your new behavior obvious, easy, attractive and satisfying. These are what author James Clear calls the four laws of behavior change. Failing to abide by any one of these laws means you’ll fail to adopt a new behavior. If you tried to develop a new exercise habit but you didn’t create an obvious cue to start your exercise routine each day like seeing a reminder on your phone, then you probably forgot about working out and you just stuck with your normal daily routine and if your exercise routine felt like a difficult multistep process, like find gym clothes, find shoes, drive to the gym, change reserve an exercise machine, adjust the settings, shower, fight traffic, then it wasn’t easy enough for you to do consistently.

If going to the gym seemed like punishment and you didn’t enjoy the actual experience of working out, then it wasn’t attractive enough for you to stick with it and if on a day to day basis you got more satisfaction from sitting on the couch after a long day of work and watching your favorite TV show, then working out then the act of working out wasn’t satisfying enough to pull you away from the TV. After reading atomic habits, I found two powerful strategies that can make every new habit obvious, easy, attractive, and satisfying so that you can become a healthier, happier, and more productive person in the new year. The first strategy for developing a new habit is stack and start. You’ve probably use habit stacking to build new hygiene habits without realizing it as a child, you stack the habit of flushing the toilet with the habit of washing your hands.

Flushing the toilet became the cue for your hand washing habit. Habit stacking is using an old and reliable daily habit like using the toilet as the trigger for a new habit. Years ago. I used the reliable daily habit of brushing my teeth as a cue to start flossing. Every time I put down my toothbrush, I reached into my bag of floss sticks, picked a stick and floss one tooth. Soon my brain learned that putting down the toothbrush meant I should reach into my bag of floss sticks. Now, brushing and flossing are one unit in my mind, one whole habit stack. When you stack a new habit to an existing habit, you use the momentum of the old habit to make the new habit easier to initiate. I think of it as riding a bike down one hill in order to build up enough speed to get up the second hill without pedaling.

If the hill of your new habit is too daunting, however, the momentum you got from your old habit won’t be enough. That’s why you need to reduce your new habit. An easy starting ritual. Twyla Tharp, the world renowned dancer and choreographer used to wake up every morning at 5:30 AM put on her workout gear, step outside her Manhattan apartment and hail a cab. After getting in the cab, she would tell the driver to go to the pumping iron gym on 91st street and first AV Thorpe says the ritual was not the stretching and weight training I put my body through each morning at the gym. The ritual was the cab. The moment I told the driver where to go, I had completed the ritual. Now why? I was telling the driver where to go. A successful workout ritual with AARP. Well, after the got in the cab, she found it emotionally and physically easier to continue to the gym and complete our workout than tell the cab driver to turn around and go back to her apartment and getting a cab driver to turn around is hard because it feels embarrassing. [inaudible]

instead of focusing on an entire routine of a new behavior, just focus on this starting ritual of that behavior. The starting ritual is the minimum number of steps you need to make. That makes it easier to proceed with the rest of your ritual than to turn back. Almost all starting rituals can be completed in two minutes or less. If you spend two minutes to get up and put one dish away, you’ll find you have enough momentum to put all the dishes in the dishwasher. If you spend two minutes picking a book off the shelf and reading one page before bed, you’ll find that you’ll suddenly have the energy to read a few more pages and maybe finish a chapter. Here’s how you can use habit stacking and a starting ritual to build an exercise habit in the new year. First, leverage your habit of getting in the car after work and driving home as the cue for your new exercise happen.

When you get in the car after work, execute the following starting ritual. When you see the gym on your way home, exit the freeway, Park at the gym, then walk inside with your gym bag and scan your pass. If you complete this easy starting ritual, the rest of the workout ritual will take care of itself because after you scan your pass at the gym, the thought of turning around will look rather silly. At this moment, you’ll be more motivated to continue what you were doing and proceed with the rest of your workout. Then quit stacking and starting makes the cue for a new behavior obvious and it makes the requirements of new behavior easy, but to make a new behavior attractive and satisfying behavior. Laws three and four you need to synchronize and score. Ronan burn in electrical engineering student in Dublin, Ireland knew that he should exercise more so he used his engineering skills to sink his stationary bike with his laptop.

He wrote a program on his laptop to play his favorite Netflix show on the TV in front of the stationary bike. If he cycled at a certain speed. If he slowed down the Netflix show he was watching would pause and he need to cycle harder to finish the episode he was watching for Byrne binge watching. Netflix meant burning calories. If you only allow yourself to enjoy your favorite experiences while you execute a healthy and productive new habit, you’ll find the new habit is something you actually look forward to doing. Entrepreneur Kevin Rose only allows himself to play his favorite video game. On the treadmill. Now he looks forward to going on the treadmill. I only allow myself to enjoy my favorite protein cookie while I’m at the gym. My Gym is pretty sly. It sells protein cookies at the front desk and I only allow myself to listen to my favorite DJ dead mouse when I write the scripts from my videos.

When you synchronize an experience that you crave with a new habit, you naturally dread doing, the craving will counteract the resistance that you feel towards the new habit and get you to execute the new habit more consistently. That’s why sinking is a great hack for habit building, but to make a habit stick, you must make the habit inherently satisfying and to make it habit inherently satisfying, you must keep score. Imagine on January 30th you look up at your wall and see 27 red check marks on 27 of the last 30 days. Each checkmark represents a successful workout. The calendar is visual proof that you are someone that cares about their health and you should take pride in that. The calendar on your wall. Acts like a scorecard and each check mark is a point for the type of person you are. Author James Clear says, each time you write a page, you are a writer.

Each time you practice the violin you are a musician and each time you start a workout you are an athlete. If you take the time to score the completion of a habit in a habit tracker, like a calendar on your wall or an app on your phone or a physical habit tracking notebook, you will start to see a pattern of behavior that proves to yourself that you are becoming the type of person you’ve dreamed of becoming. The pride and satisfaction that you feel after scoring a point will be enough motivation along with sinking your favorite experience with a habit to make you do the habit enough so it sticks. So when you start the new year, start by stalking and starting. Then sinking in. Scoring a new habit like daily exercise. When you stack and start then sink in, score the habit you’re building will become obvious, easy, attractive and satisfying in a few months.

The once weird habit will seem weird not to do because it’s part of your identity. It’s who you are and what you do. That was a core message that I gathered from atomic habits by James Clear. James is an excellent writer who knows his stuff on habit development. I highly recommend this book. If you would like a one page pdf summary of insights that I gathered from this book, just click the link below and I’d be happy to email it to you. If you already subscribed to the free productivity game email newsletter. This pdf is sitting in your inbox. If you liked this video, please share it and as always, thanks for watching and have yourself a productive week.

Peter Schiff ADMITS Bitcoin Has Value & Wants To Own 1 Whole Bitcoin [New Podcast Audio]

Speaker 1: (00:00)
All right. Welcome back everybody to all to coin daily. My name is Aaron Chorus. The reason you subscribe to our channel is for our daily videos, keeping you informed on everything going on with Bitcoin Crypto, the home market. Let’s jump right into it. So to start things off, I’m sure you remember this video, we put it out about a month ago. It was titled Proof. They are lying to you about bitcoin. Peter Schiff owns bitcoin, very popular video. It got well over a hundred thousand views and even prompted Peter Schiff himself to comment on it, which was something, but in this video we were the first to point out. And you know this has spawned a lot of news and a lot of videos since, but I think we were the first to point out. We brought this to light, although publicly Goldbug Peter Schiff will trash bitcoin if you, if you peel back the curtain, we see that Peter Schiff will, he not only accepts bitcoin through his business, but he himself actually holds Bitcoin, which is pretty interesting.

Speaker 1: (00:58)
So this is kind of old news by now, right? I mean, you’ve probably heard this before, but what you have to remember is this is not something that Peter Schiff used to admit. You know, this is not something that he used to talk publicly about. And at this point, you know, he has to admit it. He has to talk publicly about it. He has no choice. And this is not to condemn Peter by any means. You know, it’s the opposite. In fact, I commend him for it. I, I celebrate him. You know, we all go through this personal journey or it takes time, takes a little bit of an education, a little bit of understanding as to what makes bitcoin valuable. And to be clear, you know, Peter Schiff, he is, he is far from a bitcoin evangelist by any means. You know, he qualifies his truth about him in Bitcoin.

Speaker 1: (01:40)
He says, yes, my company accepts Bitcoin, but it’s through a third party service. So we never actually hold it. And he says, yes, I do hold some bitcoin. It was gifted to me. I haven’t sold it, but I don’t really care about it. That’s what he says. Now since I’ve made this video, another month has passed, which is another month where bitcoin isn’t dead and it’s another month where bitcoin has in fact thrived and it seems that Peter’s kind of gotten in the habit of talking about bitcoin more and more. Hey, he’s on the journey, right, and he’s on the journey where I hope eventually he’ll, he’ll have to admit that bitcoin is here to stay real. We’ll have to admit Potpourri that bitcoin is a great investment or the very least he can see why bitcoin has value. Well, anyways, I’m going to play you a clip.

Speaker 1: (02:26)
This is from a very recent episode of his podcast. It was just released a few days ago, so check this out. In this clip, Peter is going to clarify his exact thoughts on bitcoin and again, he has no evangelist. He is far from it, but what’s interesting is number one, he admits that bitcoin has value. Number two, he admits that he likes it when people send him bitcoin. Number three, he admits he’s probably going to Hodel his bitcoin just to see what happens. And then number four, he says he would like to own one whole bitcoin, which I thought was pretty cool. So I’m going to play you just parts of this. The link to the whole entire episode is in the description. Check it out. So he’s going to start off by addressing all the press that he has gotten within the last month. But remember, his relationship with Bitcoin is not something that he used to admit before we brought it to light.

Speaker 2: (03:19)
So check it out and want to finish up today’s podcast talking about Bitcoin, which I usually, you know, seem to end my podcast these days, uh, talking about bitcoin. But this time I don’t really want to talk about the price of bitcoin. I mean, it’s just a little over 11,000, uh, as I am recording. But I really want to talk about these articles that have been coming out about me and the fact that, you know, I own Bitcoin, like I secretly owned bitcoin. Oh, Peter ship is a hypocrite, right? He reveals that he owned some bitcoin. Therefore, even though he’s been publicly trashing Bitcoin, he’s been privately buying it up.

Speaker 1: (04:01)

Speaker 2: (04:01)
Therefore, you shouldn’t pay attention to what I say, which is not to buy bitcoin. You should pay attention to what I’m doing, which is buying Bitcoin, right? Well, I’m not buying bitcoin.

Speaker 2: (04:13)
Uh, some of the articles talked about the fact that, um, you know, I admitted that I own some bitcoin, which I do. And I guess Jeffrey Tucker, uh, who I know, I admitted to him that, yeah, I own some bitcoin and I owned a little, uh, uh, bitcoin cash and ether, that total amount of my holdings was like 100 bucks and I didn’t buy any of it. Right? I got it for free. I didn’t buy it. People gave me some. So I, I bay, I pointed out again, I said, I thought I have like a hundred bucks worth. That’s it. That’s all I got. That means nothing. And so then somebody tweeted back and said, oh, what’s your wallet? What’s your wallet address? I’ll send you a hundred bucks worth of bitcoin. Right? That’s what somebody said. And Oh, someone wants to send me $100 with a bitcoin. Alright. So I eventually found the wallet number and I pasted it into a tweet and I tweeted it back and now I’ve got over $2,000 worth of bitcoin in my wallet.

Speaker 2: (05:12)
But now there’s all these articles out there about how, you know, I’m accepting all this bitcoin and now this is some other proof, you know, that I’m a hypocrite because you know, I’ve, I’ve accepted all these bitcoin gifts. First of all, I don’t even know how to reject it, right? I mean, even if I wanted to be, the money just comes in or the bitcoin rather just comes in. I don’t even know how to stop it, but why would I want to stop it? I mean, if somebody wants to send me some free Bitcoin, I’ll take it. I mean, I can turn right around and sell it. I mean, I know that there’s a market for now, so the fact that people want to give me some free bitcoin and the fact that I haven’t turned it down doesn’t mean that I’m secretly like a pro bitcoin. I mean, no, it just means I’m not an idiot. I mean, I think it is kind of cool, right, that you can send it very quickly. And I, I’ve always admitted that that is one of the good features of Bitcoin, that if I’ve got it and I want to give it to somebody, I can very easily send it. The problem is what I’m sending has no value. It has market value now because people are willing to buy it, but it may have no market value in the future if nobody is willing to buy it.

Speaker 2: (06:14)
Look, I think this is a bunch of nonsense, but you know what, if people in the bitcoin community want to press this story, keep on sending me bitcoin. You guys have my wallet, you know, you know, keep on setting it. Let’s see. Let’s see if I can get up to the whole Bitcoin, right? I need about what, 10 eleven thousand eleven thousand dollars now to get one old bitcoin. I’m not there yet, right? I’m, I’m, I’m like not, I’m not quite at a fifth of a coin. Uh, so keep sending them to me. I got to decide what I’m going to do with them. Right. That’s the thing I got to figure out. Do I huddle them, you know, just for the hell of it. Because, you know, easy come, easy go. I didn’t pay anything for it. I mean, I guess that would be the right thing to do is just huddle them, uh, because you know, but of course people think of, I huddle them.

Speaker 2: (06:52)
I mean, eventually they’re going to go to a million and I could just buy a lambo. Right? I mean, that’s the idea, right? Just keep them till they’re a million and then by my lambo. But of course, I can actually cash them out right now and, and you know, and buy something real. I can buy something right now, uh, with all that, uh, all those free bitcoins, but I’m not really sure for now. I mean, at a respect to the people who sent them to me, uh, I may end up just holding onto them and then people can follow that wallet and they can see what it’s worth. Um, you know, clearly a fight. If I sell them, then, you know, people will know that too. Um, but anyway, that’s it.

Speaker 1: (07:27)
I think that this is not nothing. You know, I thought that was pretty interesting and this is the process. You know, he’s talking about bitcoin more and more these days. As he said he’s, he’s interacting with bitcoin now. It just going to take some time. You know, I think Peter is going to come around eventually. But guess what, even if Peter never comes around, bitcoin doesn’t give a shit. Bitcoin will prevail with or without Peter. Overall though I think this is a net positive for bitcoin. I think this is a really good thing. Let’s move on. Have some recent news for you. Lot of great news. We’re going to fly through this. Tony Hawk pro skater has revealed that he’s been into bitcoin for six years. This came after somebody tweeted him, Tony, how much fun would it be to ride this beauty? And they showed a price chart of bitcoin’s recent action and Tony tweeted back, been riding it for six years, haven’t bailed yet.

Speaker 1: (08:19)
So that’s quite a revelation. And I actually think as Bitcoin’s price continues to rise, more and more people are going to come out and admit they hold bitcoin as soon as they get into a little bit of profit. Next piece of news square’s cash app. You know, square’s cash app is turning into one of the most popular places for everyday average people to buy and hold bitcoin. Well, the cash app now supports batch 32 withdrawals. Now this is something that we just saw with the ledger live, so let me remind you, batch 32 withdrawals means 40% cheaper fees compared to legacy addresses. Starting with one 10% cheaper than wrapped segwit addresses starting with three confirms faster on average uses less space in the blockchain so it helps scale bitcoin without putting extra pressure on the nodes, preserving decentralization, improved error correction and easier to spell or write down because it’s all lowercase.

Speaker 1: (09:15)
So Square’s cash app is, it’s really going for it when it comes to being maybe the new place rather than Coinbase for for everyday people to buy bitcoin. This is really good news for bitcoin and hope to see a lot of people follow hope to see a lot of people using the cash app. By the way, guys, have you ever been on the site when Peter Schiff was talking about, he said he owned about, let’s type this in here. He said he owned about $2,000 worth of Bitcoin, which what would that be? Point bitcoin’s price right now is, let’s just say it’s for the sake of argument. Let’s just pretend Peter Schiff owned a quarter of a bitcoin click. When Lambo. Well, according to this nifty site at this nifty novelty site, he could buy a lambo worth just under half a million dollars a. He could buy one by 2030 given bitcoin’s growth in the past 10 years.

Speaker 1: (10:13)
Now, if you own one whole bitcoin, check this out. How long would it take you to buy a lambo while we could get a lambo by 2027 this is pretty cool. I’m going to leave all the links in the description. Let’s move on. This was pretty interesting. Tweet. Bitcoin liquidity is continuously growing. Since months, which is assigned that less liquid assets are increasingly collapsing into it and other sound assets like gold. Interesting. So you can see this as bitcoin’s price action. And then at the bottom here is bitcoin’s liquidity. There’s a lot of unanswered questions, um, but it’s an interesting metric nonetheless and bitcoin because bitcoin is the most liquid cryptocurrency and it will remain that way and continues to become more liquid. This is pretty interesting. Could the Yang gang take the crypto debate mainstream? So you probably know that the u s presidential candidate who’s famous for his flagship policy of giving every American over the age of 18 $1,000 a month, you made an appearance at consensus 2019 last week and talked about his support for a better u s regulatory framework for the digital assets and cryptocurrency industry.

Speaker 1: (11:30)
Speaking at the event, Yang said that he believes that blockchain needs to be a big part of our future, stating that if, if he makes it to the White House, oh boy, we are going to have some fun in terms of the cryptocurrency community. Um, he also, so Yang describes himself as the opposite of Donald Trump or as he says it, an Asian guy who likes math. His love for numbers is very much in line with the ideals of Crypto, cryptography and provable scarcity, which sits at the core of digital asset revolution according to Yang uncertainty about the regulatory framework has been implemented by agencies like the SEC and CFTC is causing us investment in the area to lag behind the investment of other countries. Yes, Yang has said it’s now time for the federal government to create clear guide guidelines as to how cryptocurrency and digital assets asset markets will be treated and regulated.

Speaker 1: (12:27)
Yes, I like that. If elected as the new US president, he has promised to promote legislation that provides clarity in the cryptocurrency digital asset market by implementing a number of specific initiatives like defining what a token is and what what is a security and providing clarity on which federal agencies have regulatory power over the crypto digital assets space. Other policies, other policy promises include better consumer protection in the space and to clarification of the tax implications of owning, selling and trading. Trading digital assets. So Andrew Yang is an ally when it comes to cryptocurrency and he’s definitely one to watch. Anything else we want to cover? I think that is it. My friends, hope you found value in this video. If you did, give it a like for new here, subscribe to the channel and I will see you tomorrow. It’s going to be a great year.

Facebook’s Libra Cryptocurrency vs Bitcoin – What You Need To Know

Hi Guys. Thanks for tuning into another episode of Navix News. Today I’m going to explain everything you need to know about Facebook’s new Libra crypto currency project. Now, obviously I’ve been a passionate advocate for bitcoin

And that’s not to be confused with the Libra investment token, a security token that they’re throwing around as well, which I’ll talk about later on in the piece. We obviously have bitcoins, uh, that we store in our bitcoin wallet. And colibra is the name of the Wallet Services, um, that branch of this Facebook venture at the moment. Now it’s important to note that this looks like it’s coming out of Geneva as well. So Facebook had kind of trying to segregate themselves and if you read through the white paper, it talks about how they plan this to be more open source in the future. But I’m going to get into why I don’t really think that is possible. You can’t sort of have it both ways as well. So let’s get into the properties that make bitcoin so great. The fact that it’s open source to anyone. You can download a wallet, you can build your own wallet, you can run your own node.

Anyone can send money to anyone that he’s very open in nature. And that’s not going to be the case. Uh, we’ve faced for, particularly for the properties that we’re going to get into as well. Now when we talk about governance, who decides what happens on Bitcoin or it’s the developers, the community. If you don’t like something that happens, you know you can hard fork away. And we’ve seen that happen. If you think you’ve got a better use case, hard fork, the code away and create your own coin as well. So in Facebook claim is not going to have that sort of governance model. It looks like the people that buy the nodes for $10 million each, they’re the ones that are going to sort of get to decide how this all operates. So if you think about decentralization, we often talk about that scale. It’s not just a yes or no answer.

Facebook are looking for a hundred businesses or corporations to put forward $10 million to buy a node rather than bitcoin where we have, you know, 10,000 or more people that can download the open source code for free and run a node. So I’d say it’s definitely not on the decentralized scowl, although might have more nodes in future. There’s always those central points where if governments get angry enough they can just issue each of those nodes a letter saying, Hey, shut that down now. That gets you to the next thing we want to talk about which is whether or not it’s permission-less. So with Bitcoin, if users have control of their own private keys and their own wallet, you can send money to anyone without their permission and I don’t think that’s going to be the case with faced with coin now they talking about this being more open and permission-less on the blockchain level if you read the white paper, but the fact that he is with all the AML and KYC, different laws in different jurisdictions and whatnot, governments are already starting to push back.

We saw today from you know, France and even the US Congress, I don’t think this is going to be a simple case of anyone can send money to anyone and that’s where we get into that censorship resistance as well. So thinking about with Bitcoin, there’s no dispute process and I think Facebook is going to have that if someone sends money to some that they don’t like or charge backs and all that sort of thing. Dispute resolution is an absolutely huge part of the banking sector and I think Facebook are going to face that issue as well. So is it borderless now bitcoin doesn’t care what country you’re in. Facebook ears, it’s going to have to ban, you know, Iran and North Korea, those countries on the sanction list as well as individuals and all that sort of thing. So definitely does have some borders. Is it private?

Well, we know that bitcoin is not anonymous and there’s a bit of a difference between the level of privacy and if it’s completely anonymous. So bitcoin is what we call pseudonymous, where you don’t really have your name and all your personal data attached to an address. If you’re using any exchange, maybe that’s a bit different. But if you’re using your own open source wallet and different addresses each time, bitcoin can be relatively private. I don’t think that he’s going to be the case with Facebook. Again, you’re going to have to get an onramp and id or profile and all that data is going to be attached to your Collibra wallet and so on. So I just don’t think there’s any way that government and regulators are going to allow for private transactions as we’ve seen them push back on privacy coins as well. So it isn’t secure or bitcoin has $100 billion plus bounty.

If anyone can hack the network and it is the most secure computer network in the world running for 10 years today. Now these other small centralized change recently we have seen them running into issues. So even a project is established in his greatest stellar recently had some downtime. So you have to ask yourself, hey, there’s always that risk when you have the centralized knows that they can be targeted with ddos attacks, personal ideas, how often do we hear about Facebook profiles being hacked and whatnot. So I’m just not sure about the security and obviously bitcoin’s not perfect either. If you don’t control your private keys. Well on a hardware wallet, Yeah, you can get hacked as well. But I think this is going to face a lot more security issues, um, from hackers and one are going forward. Now, what’s the value proposition here? Well, we know that bitcoin has scarcity is one of its properties and that having drops, that inflation when we compare to central banks that are ramping up and printing more money each and every year.

And that is really interesting when we talk about the value. So Facebook coin is going to be some sort of stable climate. It’s not gonna be paid til one US dollar. They’re talking about it being paid to a basket of currencies. Some of you might’ve heard of the IMF special drawing, right? And you can think of that as a floating basket, those currencies rather than just being pegged to one of the most used international currencies as well. So I’m not really sure that a, that’s where you get any value from, but they’re talking about it in terms of an investment that you might be able to paddle up their money in bonds or interest accounts. Not that there’s high interest rates these days, but get a little bit of yield. So Facebook have already talked about getting into the banking so people can have their coins on their Facebook APP and they might in a little bit of interest this year.

So it’s not a home run investment, which bitcoin really has been and I think he’s going to continue to be going forward. Um, the other part of that is that Labor investment token security token that I spoke about where maybe they’re going to give the backers and the initial investors, um, returns on top of that yield in the way of phase that they collect and all that sort of thing as well. So I don’t think that necessarily that’s going to be a great investment particularly, um, compared to bitcoin. So is this competition? Absolutely. Guys, the answer to that is yes. If we look at how profitable banks have become these days, why is everyone breaking into this sector? Amazon’s responsible for 20% of all payments made in the u s apple releasing apple pay. Everyone wants to get into this space and launch their own coin token because banks have had it so good.

This rent seeking nature of just fleecing phase. If I pay someone at a coffee shop, a lot of the time people don’t realize behind the scenes these are own mastercard, western union, whoever it is, is scraping a big fail, a lot of it on the back end. And these middle men that take value away from the end users when we go peer to peer for a fraction of that cost. So yes, that is why Facebook a huge competition, but to the incumbent payment and banking system, they’ve spoken about wanting to get into the credit card and lending space as well. So they’re going to need all these licenses and that’s when they’re going to run into a lot of problems. I think with the, how they’re going to govern this and governments themselves pushing back, um, individual countries, a lot of the powers that be, think about the deep pockets and how frustrated some of the players in this space get it.

Bitcoin, whites try and disrupt, well now you’ve got Facebook that have already, you know, abused our data and privacy and a lot of ways now trying to get into the most profitable industry and one of the oldest industries. And you can put your tinfoil hat on here, but I think there’s going to be a lot of upset people that they’re trying to get into that territory as well. So yes, Facebook is competition, but ultimately bitcoin is trying to replace this entire incumbent system that Facebook itself is competing with so tiny. So altogether, is Facebook client going to be useful? And I think the answer is that yes, we have to remember that 99% of people don’t really care about a lot of these properties. It’s convenience for them. So when they go to a soccer match and they check in on Facebook with their friends and then it says, Hey, do you want to catch an Uber home and Facebook have already partnered with Uber and then it’s going to come out and be paid with your Labor coin on the way home.

Dad, convenience for a lot of people is going to be great. They’re going to use it a lot, but it’s probably going to be like having that cash in your wallet. You might have a little bit of labor coin on Facebook, just like we have in, we chat in China for people to pay for day to day items. It’s not that investment that we want when people are worried about money printing and in Qa, all these other properties in these more remote countries that we’re currently seeing undergo really tough times. So bitcoin has a lot of those properties. And if we think about trust, equality and freedom, all those things that bitcoin has, I don’t think anyone can really agree that Facebook is going from that angle as well. So it’s bit coin for me guys, but I do think Facebook is going to get a lot of traction and lead a lot of people on their own blockchain journey, amount of money, debt and banks the same as you need. So I hope you’ve enjoyed this video play. Smash that like button and subscribe if you haven’t already, share those videos around. And thanks for tuning in. You guys. Cheers.