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How to Buy Bitcoin in India? | What is Bitcoin? | Revealing My Crypto Portfolio! - YouTube
Channel: Ishan Sharma
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if you invested 1 000 rupees one year
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ago
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in nifty or sensex you would right now
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be having roughly about two thousand
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rupees
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similarly if you would have invested one
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thousand rupees into bitcoin about one
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year ago
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you would now be sitting at about 12 000
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rupees
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isn't that crazy i will be talking about
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how i invest into bitcoin and why
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do i invest into bitcoin i will also be
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trying to clear your misconceptions
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about bitcoin in general what if it gets
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banned and all that so i will try to
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clear those now
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two things to understand here number one
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bitcoin is quite volatile so you
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must do your own research don't do it
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because i am doing it
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and number two i am not a financial
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advisor so uh
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keeping that aside now let's talk about
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why do i believe in bitcoin and why
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am i investing in it so understand one
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thing
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i don't think there is a hundred percent
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transparency in the banking
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system that we have right now okay there
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have been
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so many instances in which we have found
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inconsistencies there have been some
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huge scams
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you know you have the nina of modi scam
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you have vijay malia scam and there are
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tons and tons of these
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you will hear every once in a while they
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happen because the banking system that
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we have right now is prone
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to human greed okay so
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uh officials can be bribed and then some
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shady stuff can happen
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without you even knowing it and now the
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second reason why i
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invest in bitcoin is because of the fact
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that the money that you have stored in
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your bank account or the money that you
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have
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in your pocket is not backed by anything
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really
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okay so what happens then is that
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governments can print
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unlimited amounts of money as they want
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i want you to look at this
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interview of jared powell and he was
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asked can the federal reserve print
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unlimited amounts of money this is what
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he had to say
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simply flooded the system with money
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yes we did that's another way to think
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about it
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we did where does it come from do you
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just print it
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we print it digitally so we you know we
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as a central bank we have the ability to
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create money
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uh digitally and we do that by buying
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treasury bills or
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or bonds or other government guaranteed
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securities and that that actually
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increases the money supply we also print
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actual currency and we distribute that
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to the federal reserve banks so as you
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can see he just said that they can print
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as much money as they want
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in 2020 they printed over 8 trillion
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dollars
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and they basically did this so that they
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can stimulate the economy and they can
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bring it back to
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normal now as a result of this crazy
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amounts of money printing there is
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something called as
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inflation that happens uh if you are
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curious to learn more about this i will
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be leaving in a lot of
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links in the description that you can
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use to educate yourself about all of
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these things
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now let's talk about bitcoin okay so
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bitcoin is limited
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in quantity there is only 21 million
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bitcoins in total
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out of this about 18.6 million bitcoins
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are
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mined so far and uh basically
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the thing that is limited has value
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right why does gold have value because
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it is limited
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and every single year we can predict
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that okay about one percent
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more gold will be mined or two percent
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gold will be mined
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something similar we can do with bitcoin
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and so
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there is no central authority that can
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just print x amount of bitcoin out of
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thin air right
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so that's what you need to understand
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about bitcoin it is limited in quantity
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and it is decentralized and basically if
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you want to make some changes into
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bitcoin
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there has to be a general consensus okay
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so more than 50 percent
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population agrees on to changing
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something in bitcoin only then it will
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be changed okay
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so it's actually the currency that is
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for the people by the people
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okay that's the interesting part about
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bitcoin that's why i am interested into
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it now understand one thing i have
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researched a lot about bitcoin and that
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is why i have invested into it you
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should also research before you do
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anything like that
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it is a highly volatile asset because
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it's quite early right now
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and a lot of people are skeptical about
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it now let's talk about the bitcoin ban
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in india
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so is the ban going to happen i think
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we don't know right so basically what
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happens is that
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this was a bill that was passed in the
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parliament and we still don't
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know what the end result is going to be
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there are discussions going on
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but the news articles have done a really
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bad job
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of saying that bitcoin is banned take
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your money out of the
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cryptocurrencies and all that is not the
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truth
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yes there is a bill but it has not been
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finalized yet
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okay so that's what you should
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understand don't get fooled by
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these news articles and all that don't
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sell just because you've heard some
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rumors now one more question people had
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is that
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bitcoin is so expensive how can i buy it
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you can invest for as
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little as 300 rupees you don't have to
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invest like 40 lakh rupees in just one
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go
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now understand this one thing even
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though i have researched about it i only
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invest about two to five percent of what
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i normally invest
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so that's what i do i am a believer into
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it that is why i invest but i don't go
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all
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in saying that okay i'll invest 100 into
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this no that's not what i do
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now bitcoin is highly volatile so if you
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don't like
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uh let's say you put in a thousand
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rupees today
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and tomorrow it goes down to let's say
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500 rupees and uh
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if you go crazy by just seeing that you
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should not invest into bitcoin it is
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highly
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volatile anything can happen uh yes we
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do have a lot of
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uh companies that are buying into
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bitcoin like tesla and other ones
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but it is still quite volatile so that's
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just one thing to keep in mind
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do not you know keep checking the market
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price of bitcoin and be
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afraid of what is going to happen next
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and all if you believe in it you should
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hold it for as long as you can
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now one thing to understand is that why
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do people say that bitcoin is going to
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go
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to 500 000 currently the price is at
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about i think 60 000
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us dollars and that is about 45
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lakh 44 lakh rupees people believe that
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it is going to go to 500 000
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now to understand this think about it
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like this so
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you have gold right so gold has a total
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market cap at about 10
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trillion dollars or about 12 trillion
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dollars now bitcoin on the other hand
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has about
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a market cap of i think 1.2 trillion
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dollars the last time i checked
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and we believe that bitcoin is superior
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than
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gold okay bitcoin is the digital gold
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and it is superior to gold
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so we can say that in the future it can
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touch
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12 trillion dollar market cap okay we
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don't know when that happens we don't
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know if that happens but we have an
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estimation that it might happen so now
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what happens is that
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for bitcoin to become 10x more valuable
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it has to uh go from 60 000 rupees
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or sixty thousand dollars per bitcoin
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all the way up to six hundred thousand
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usd per bitcoin or five hundred thousand
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usd per bitcoin okay
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you can just divide ten trillion dollar
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twelve trillion dollar by twenty one
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million and you will get this number
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so that's what people believe uh it can
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be going down to zero as well you don't
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really know about it
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now i will be linking a lot of
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documentaries a lot of articles a lot of
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tweets that you can refer to if you want
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to learn more about bitcoin and ethereum
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particularly
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now let's talk about how do i invest
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into bitcoin so
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this is really interesting i personally
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use fuzzy x this is not a sponsored
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video
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um this is what i have used i just
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logged into azure x and i think it
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works i don't know if other platforms
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work or not but i know that this works
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really
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well for me okay so this is what fuzzy
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rex looks like as you can see on your
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screen
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if you want to make your own account on
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the wazerex exchange you can check the
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link in description if you want to
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get started with that but yeah basically
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what you can do
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is that here you can see the prices of
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every single cryptocurrency out there
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now i personally only invest in bitcoin
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ethereum and cardano
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um and mainly i just believe in bitcoin
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and ethereum so far
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i don't have knowledge about other
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cryptocurrencies i am learning about it
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and uh that's what i would say okay so
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this is bitcoin right here you can see
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its price is fluctuating anywhere
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between 43 to 44 lakhs right now
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now let me show you what happens
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basically you can just buy bitcoin
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whenever you want to you can just go
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over here
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uh in the buy section and you can put in
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how much do you want at least i'll have
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to put in about 439 rupees right there
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as you can see
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okay and then yes there is going to be
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some fees as well right here okay
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so that's what you should understand
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about this one i don't want to buy right
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now i'll be buying at the dip
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okay now let me show you how much have i
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invested so far right so i'll go into
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the fund section right here
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and as you can see this is the amount
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that i have invested okay
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so if you look at ethereum i have invest
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about 0.154
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ethereum that's basically this much
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amount of money then you can look at
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bitcoin as well this is how much i've
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invested into that
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and if you look at cardano this is how
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much i've invested into that as well
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now one thing to keep in mind is that i
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invest in these things to invest for the
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long term
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not for the short term i don't want to
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do trading or something like that
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i invest and i just forget about it and
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also i do an sip into cryptocurrency so
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basically every single month
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i just put in about 10 000 rupees into
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all of them
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and i have like a 50 50 share that okay
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i'll invest 50 percent into bitcoin 50
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into ethereum so that's what i do right
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here now one thing to understand is that
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i also use something called as block
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file so block file i think is a great
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platform in which you can
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open your account and once you have
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opened your account you can actually
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put your bitcoin or ethereum or whatever
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cryptocurrency you have
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and it will give you an interest rate
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just like the one that you get in your
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savings account in your bank
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all right so as you can see this is what
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i have invested into
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uh block five basically as you can see
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it's about 81 dollars right here
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and i have invested about 0.04 ethereum
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into it okay so every single
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year they have an interest rate of about
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six percent seven percent
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of uh whatever cryptocurrency you have
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invested
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okay so i think this is really
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interesting um as you can see this is
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how much i have earned so far this is
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the interest and this is the
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accurate interest really interesting
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stuff if you want to make your own
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blog fi account i will have the link in
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the description for you to get started
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this is my complete bitcoin or
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cryptocurrency portfolio
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and i have learned a lot in the process
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and you should also do your own research
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before
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investing as always all right guys
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that's pretty much it this was the video
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make sure that you hit the like button
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and subscribe to the channel
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and let me know in the comment section
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what do you think about bitcoin
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do you think it's going to stay here or
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do you think it's going to go best i
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would like to hear
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your uh you know viewpoint on this make
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sure that you also follow me on
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instagram at ishan sharmas90
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and i hope to see you in the next video
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bye
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