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Bitcoin Is The Kenny Of Crypto (Twitter Gets Crypto) - YouTube
Channel: BitBoy Crypto
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they say those who don't learn from
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history are doomed to repeat it and it
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seems bitcoin is no exception
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yep september's typically been a month
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to forget for the crypto markets and so
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far it seems the trend is continued
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intact
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it's all looking like a pretty typical
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end to quarter three flash crashes panic
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and fear china banning bitcoin for the
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millionth time but the market is holding
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its nerve why
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because if history is set to rhyme as
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many believe it will then these could be
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the last moments of quiet for a pretty
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insane storm
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the launch pad for a q4 of truly epic
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proportions so buckle up and let's get
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it
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welcome to bitboy crypto home of the bit
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squad the largest and greatest crypto
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community in all the interwebs my name
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is ben everyday on this channel i show
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you how to make money in crypto if you
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like money in crypto be sure to hit that
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subscribe button in this video we look
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at why bitcoin is still going strong
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bitcoin is the kenny of crypto poor
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kinney he's been chopped in half crushed
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by a falling satellite eaten a lie by
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ozzy osbourne
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but like bitcoin this kid's made of
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steely stuff he bounces back every time
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guess what
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it's not even my analogy this is coming
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from none other than the head of asset
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management firm counterpoint subsidiary
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of morgan stanley who clearly spends too
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much time watching cartoons and not
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looking after his clients but anyway
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bitcoin's taken a beating this month
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crashing down from about 50k
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find some solid support in the low 40s
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support that suggests both retail
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investors and institutions been buying
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the dip with every chance they get
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but don't just take my word for it the
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unchained metrics say it all smart money
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is moving bitcoin off the exchanges and
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into cold storage
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something they tend not to do unless
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they're confident of a kenny-like
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revival it's what they call smart money
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they're smart like this guy the lead on
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chain analyst at glass node points out
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that long-term huddlers now are at an
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all-time high while exchange reserves
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are bottoming out huddlers have
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withstood a ton of fun for months and
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this is what they're saying we're not
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selling
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[Applause]
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i hate maxis so let me rephrase that
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they're not selling yet they're buying
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just check out this data from coin
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shares which shows bitcoin is leading
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the charge with investors piling in
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despite the china doom and gloom
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why
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because they don't see it as a threat
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they see it as a great opportunity
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that's now one two three four five six
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straight weeks of positive inflows of
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cash into digital aums
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assets under management
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liquid supply is at an all-time high
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they're not selling because they're
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huddling out for something bigger
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the kind of parabolic run we've not yet
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seen this cycle and there's also more
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talk of china cracking down on crypto if
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you're new here just understand that
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china banning crypto happens every six
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months some of his old timers are kind
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of fed up of hearing about it but let me
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break down what's happening and why you
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shouldn't be worried
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crackdown began back in 2009 when they
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implemented a ban on digital currencies
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now this wasn't about bitcoin at all it
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was super early days for crypto this was
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actually more due to virtual currencies
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circulating in video games but even then
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they saw it as a potential threat to the
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yuan
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fast forward to december 2013 czp
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explicitly called out bitcoin by calling
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it a currency without real value and
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banning their banks from handling
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transactions
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we saw some fake news go around in 2014
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about a full on band that briefly rocked
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the market
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and a few years later they forced their
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exchanges to shut down which is when
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bineets made the move over to malta 2019
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saw the mining ban which ultimately took
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full effect earlier this year beginning
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the so-called great mining migration
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something anthony pompliano described as
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a major geopolitical error
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well now they've doubled down with an
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all-out ban the real deal
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and for those who don't speak fluent
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mandarin allow me to translate
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crypto is finito illegal done
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we're seeing exchanges like huobs
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scrambling to cut ties with customers on
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the mainland
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most of whom are getting those coins
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into cold storage as fast as humanly
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possible but of course not before
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smashing that like and hitting that
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subscribe button in the name of freedom
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is this likely to have a negative impact
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on price action
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well so far it's barely registered sure
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we had a small dump a dump for ants
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meanwhile we actually saw a rally in
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divide coins largely attributed to
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chinese retail seeking out the
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decentralized alternatives not even the
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ccp can ban
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this is what crypto is all about folks
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economic freedom financial sovereignty
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self-custody of our assets
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china can ban the centralized exchanges
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they can ban transactions but the
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difference between banning and actually
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stopping something is huge the war on
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crypto is just another war you don't win
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it is by definition unstoppable by
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overbearing governments so long as
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there's internet and it's the very
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reason satoshi invented it in the first
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place
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bitcoin has moved up and right ever
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since 2009 in spite of many so-called
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bans from china it certainly isn't about
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to stop now
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meanwhile we've also had some hugely
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bullish news for bitcoin this week while
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one of the most powerful countries on
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earth is trying to stomp it out
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one of the most powerful companies in
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the world is going all in
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yes i'm talking about the integration of
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the bitcoin tipping service on twitter
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and in its own low-key way it's a big
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deal you gotta hand it to jack dorsey
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the dude's not playing around
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just look at him he used to look like
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this
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now he looks like this
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and say he doesn't think there's
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anything more important in his lifetime
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to work on
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true to his word twitter will now allow
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users to tip content creators in bitcoin
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thanks to the strike network brainchild
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of the other jack jack mullers a man so
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bullish on bitcoiny literally sold
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everything in his house to buy the dip
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so in terms of adoption and onboarding
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content creators to crypto the
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significance of this move can't be
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understated
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plans or other features like wallet
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integration and ft authentication are
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set to be coming soon best yet in line
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with its hippie credentials jack and
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twitter won't be taking a dime in
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commission we've already seen major
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names like diplo leading the way but you
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want to know something really cool
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because i've got some huge news about an
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actual major celebrity preparing to
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accept bitcoin tips and this one could
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be a real game changer anyway jack's
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influences is solely limited to twitter
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fact is this payment company square
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we're likely to have the biggest impact
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on crypto we already know they're
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building a divide platform along with
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big hitters dedicated to bitcoin with a
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current working name of tbd he's
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invested with jay-z to build an
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endowment fund promoting bitcoin in
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africa in india and he's made moves into
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mining and look
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like him or loathe them we need people
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like jack in the space people whose
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commitment go beyond making a quick buck
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he's an idealist he's a billionaire he's
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not in it for the gains and it's not
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just about tech he genuinely believes in
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bitcoin and unfortunately for now
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exclusively bitcoin as a transformative
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technology capable of bringing about
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world peace
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people like max kaiser say the same
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thing
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but he just shouts at people and posts
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me tweets and wears shorts michael
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saylor says it while accumulating even
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more bitcoin and posing inspirational
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quotes
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meanwhile jack's building affordable
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hardware wallets investing millions into
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renewable mining sometimes we need
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powerful people like him to focus on why
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because the esg narrative is fundamental
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to bitcoin's success and as much as the
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mainstream media likes to misrepresent
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the facts on it there's no denying it's
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all our interests
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from miners to retail investors for
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cheap and available renewables to secure
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the network miners flock to the cheapest
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energy which tends to be sustainable
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there just isn't enough of it to go
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around plus there's intermittency issues
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the storage problem a whole set of cost
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benefit trade-offs and incentives
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the esg market is a two billion dollar
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industry and mining wants to be on the
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cheaper side of the curve
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besides the number one criticism from
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morons like the banking broad elizabeth
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warren
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just makes sense to go green from every
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angle and the good news is some of the
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critics don't tell you we already are
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mining fluctuates between being 40 to 70
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percent sustainable by comparison the
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u.s grid is about 12 to 18 green so it's
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already ahead of the game it's just an
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easy target there's already some super
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cool innovation happening using landfill
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waste and harnessing natural methane gas
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rather than flaring it and now the
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coolest yet
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atomic bitcoin yep we've had volcanoes
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now crypto's going nuclear this recent
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article suggests that in light of the
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esg fudd mining companies are now
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partnering up with nuclear power plants
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in a symbiotically beneficial move
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like the joint venture between talon
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energy corp and mining company terra
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wolf who started development on a
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facility the size of your football
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fields next to a pennsylvania nuclear
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plant and of course the world's most
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handsome mayor mayor suarez is now
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trying to woo miners to nuclear
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facilities in texas it's clear win for
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everyone
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clean stable energy for the miners and a
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viable business model for ailing nuclear
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facilities
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can deliver serious hash power plus it's
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awesome i've said it before and i'll say
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it again don't get swept up in the fud
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look at what's actually happening zoom
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out think we're on the way down
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kenny doesn't look ready to capitulate
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yet he'll bounce back he always does
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but he also does die again probably in
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time for christmas so don't forget to
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start planning an exit strategy or
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you'll be crying into your empty
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stockings
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q4 is all yours kenny it's gonna be a
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heck of a ride that's all i got be
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blessed
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[Music]
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you
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