 All right first things first. We got to correct a little misunderstanding that some normies have about Bitcoin out there Because a lot of people have this idea because they see they see in the news You know people are talking about oh man someone Bitcoin could be used for illegal stuff and oh Maybe someone bought drugs with this stuff and blah blah blah It's on the dark web and all this kind of stuff a lot of people have misunderstandings about Bitcoin They have this idea that Bitcoin and other cryptocurrencies are some kind of privacy tool Okay, they have this idea that if you do stuff in Bitcoin no one knows about it I just want to make something like abundantly clear because I know there are a lot of people even who own Bitcoin who do not know This or maybe they know it, but they don't think it through if you ever do anything Illegal or just not not even illegal, but something you don't want people to know about in Bitcoin You are an absolute Irredeemable moron, okay, and that is because Bitcoin of course as a cryptocurrency the crypto and cryptocurrency Has nothing to do with it being you like cryptic or hidden or anything like that has to do with the cryptographic nature of Bitcoin Okay, Bitcoin is based on a blockchain a blockchain is a public ledger of every single Transaction in that currency which by definition means that every person knows exactly how much every wallet holds Everyone that wallet is transacted with where money is moved where you got your money everything, okay? All of that is public information. So unless you are doing extreme privacy mitigation methods to keep that information away from people or to obfuscate the blockchain You are an idiot if you ever think that you are doing something private with Bitcoin Bitcoin is honestly like the government's what dream of currencies because it's like a perfect like so much money is in it now and a lot of people have these false impressions that it's like some kind of privacy currency when in reality it is Literally the worst thing like when you use a credit card or a debit card at least only your credit card company knows about that knows What you're spending it on but in the case of block in Bitcoin Anyone in the world can look up exactly what you're spending how much you have and where okay? That is the easiest thing to do. Okay, so why do I bring this up now? I a lot of people have this idea. I care a lot about privacy dude. I love privacy I'm not like privacy to me. There's a personal side to privacy and there's a systemic side to privacy Like it went in Bitcoin like I I'm never gonna buy anything illegal. Okay with like cryptocurrencies. I have no desire There's nothing illegal. I can even think of that I want but There are reasons you still want to use a coin and there are crypto currencies out there that are actually Private the biggest one nowadays is Monero. Okay, and I think there's a reason long term that Bitcoin cannot be I mean, it might be an investment or something But I do not think that Bitcoin will become a like generally used private or like generally use currency out there Because it has this huge flaw. It's not the personal privacy issue. It's the systemic privacy What do I mean by that as it is right now? Since the government can monitor all of your transactions, even if we're all doing things that are a hundred percent legal Here's what happens you buy Bitcoin you get taxed you trade Bitcoin to Ethereum you get taxed You trade to another cryptocurrency you get taxed you buy something from someone else Hey, you can get sales taxed on that And you get taxed again every time you transact you get taxed and then when you transfer that into like American dollars Well, you got to pay capital gains tax, right? Everything is taxation and regulation governments are now starting to talk about Making it illegal to have private like cold wallets, which is like absurd like that's the basic functionality of you know Having your private key. That's like the basic functionality of the blockchain. It's unregulatable like you can't enforce that But they're trying to do it. They want what they want is they want everyone using centralized exchanges where like every Transaction is directly tied to an identity because that makes the the monitoring as easy as possible They can regulate everything to hell and they will because these people who are regulating Bitcoin They are boomers who do not understand the technology at all and they just I don't know Maybe they get scared by their own propaganda. Oh people are using it for like drugs or something like that So, you know, they they scare themselves into doing all this crazy kind of stuff. So here's what I recommend people There are privacy coins out there like Monero, okay? Being the biggest one and what Monero does it has a publicly auditable blockchain But the difference is it has some very clever technology. Actually, you can look up They have little cutesy videos on it if you're interested But they have ways of mitigating or really preventing people from actually tracing Transactions that is people don't actually send money to your address They actually create a stealth address that only you know that you have access to so instead of having one wallet You actually have a distributed set of wallets from where you got transactions All of which only you know that you have so no one looking at the blockchain knows how much money you have Whereas that is the case in Bitcoin. They know exactly how much money you have And transactions on Monero, they're signed with ring signatures You and other people will sign your transactions. So it's unclear who those transactions come from, okay? So Monero, what's the advantage of this? Now again, you might be that one of those kind of people I don't care about privacy dude, but everyone actually does care about privacy It's just like a cope that people say this kind of stupid stuff. Oh, I don't care about privacy But in the case of Monero If you're swinging, I mean if you're buying stuff on Monero No government could possibly charge you sales tax for that because they don't know that that's you transacting They they see some kind of transaction They have no idea which are the people in the ring signature that was actually doing that and for how much and stuff like this So everything is just like unclear, right? So Monero, although it has these privacy benefits and you might not feel like you benefit from the personal privacy benefits You might not care about your personal privacy, but you have systemic privacy in that regulating a currency like that, taxing it and Watching transactions. That is something that's basically impossible to do or if it is, you know There are some people who try to statistically model where transactions are or who this might be, but you know It's a big affair, right? And it's a big game. It's something that can't be cracked, right? So this is why long term. I think when we look into the future Different, you know of the hundreds of different come countries out there So many of them are going to be regulating Bitcoin and other cryptocurrencies in just arbitrary arbitrary and stupid ways and the way of surviving that is not fighting it legally But it's having a cryptocurrency that is immune to that kind of regulation and Monero and other privacy coins They are sort of they're like that Okay. Now right now Monero actually if you look at all the cryptocurrencies out there as I'm speaking right now February 2021 You know, there's a big bull run going on in cryptocurrencies. Everything's going up But Monero has actually been very stable. It hasn't actually been going up. So you might all what does it seem like a good investment? Well, to me, it's not about it's not necessarily about the dollar value of it But it long term I view this kind of technology Well, frankly a lot of normies out there. Here's the reality again. They have that misunderstanding I brought up at the beginning. They think that Bitcoin is private. It isn't okay Monero is what people think Bitcoin is Okay, and if they knew that I think a lot of normies would immediately jump over to Monero It's just like disinformation. They don't really know that kind of stuff But you know, I view it, you know as Governments regulate cryptocurrency more and more the winners are going to be cryptocurrencies that are built in such a way to not be Regulated that they can't they can't be watched. They can't be monitored and even if you're someone like me Like I don't really care that much about privacy. I mean if I had some if I had a lot of you know Cryptocurrency and something that could be easily monitored. I wouldn't feel weird about spending it or people knowing how much I spend or use But you know long term the systemic Privacy is more important the fact that governments cannot regulate Monero in the way that they can regulate other Cryptocurrencies I think that's a lot more important and I think as time goes on and they try and regulate more and more I think you're just gonna have those more private currencies are gonna be proven superior and they're gonna last Because they are built in a way to survive all that kind of stuff and frankly when it comes down to it like It's just absurd that people are using. I mean people are basically using Bitcoin as an investment I don't think I mean of course nowadays you can buy a lot of stuff with Bitcoin Nearly everything nearly anything online you can buy with Bitcoin one way or another but um, you know I do feel that like I don't know if normies would be really comfortable Using a currency where anyone could just like see their balance at any point in time or see everything They've you know spent on I feel like normies would feel weird about that kind of stuff But so that's another reason I'm sort of bullish if you please on now privacy coins. Anyway, so that's it See you guys next time