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Well howdy there guys i just want to do a short in simple video here today i just want to talk about why i’m not buying bitcoin why i’m not buying these crypto currencies i guess so many comments all the time hey jeremy do video on bitcoin do a video on crypto currencies hey jeremy are you buying crypto currencies i guess so many of these comments day in and day
Out and it’s impossible not to see these comments for me because i read the comments every day and then i go on cnbc app i go on this app or the other stock market app and guess what i’m bombarded with you know bitcoin goes up this much say oh bitcoin falls as much and then rebounds in in it’s just a lot of cryptocurrency talk it’s the hot thing right now it’s the
Hot thing you can’t miss it you can’t not know about it if you’re in the markets or investing or doing anything like that right so why am i not buying bitcoin why am i not buying these crypto currencies well first off i’ve put in the work to try to understand them i’ve got put in the work i’ve read articles about them after articles about them try to understand
Them and i understand them pretty decently i would say i understand them better than 90% of americans out there if not 95% of people i still don’t fully understand it to the point of i have a vision whether bitcoin is going to be absolutely the future or this cryptocurrency or this cryptocurrency i don’t have a vision that that is going to be absolutely the way we
Go okay so i don’t have a vision for that and for that reason i can’t invest in a bitcoin in any cryptocurrency at the end of the day because what’s the number one rule i preached on this channel number one rule over everything never invest in anything you do not fully understand you do not fully understand the vision for don’t ever do that ever that’s the number
One rule of investing don’t just throw money at something because your friend thought it was you know the way to go or your family member or the guy on tv or the guy on youtube said you know buy bitcoin you don’t just do that don’t ever just put money in something because someone else said it’s the way to go or because it’s the hot thing that’s how you get burned
Every single time so if i bought into bitcoin if i bought into these crypto currencies i would be literally going against my number one and it’s not that i don’t see bitcoin or cryptocurrencies in general doing phenomenal in the future they could possibly do that i just don’t know and because i don’t know in because i don’t have a lot enough confidence to go out
There and make a decision that’s why i’m not buying into these that’s why i’m not buying into bitcoin is why i’m not buying into any crypto currencies in general it’s why i’m not trying to make investments in those and those kinds of things guys because at the end of the day i cannot fully understand it another thing that bothers me about these crypto currencies
Right now and you know it’s a it’s a good thing that’s a bad thing if one there’s a lot of people making money right now in crypto currencies it’s so easy to make money in crypto currencies right now it’s it’s like disgusting that’s great that’s great i’m happy people are making money that’s freaking phenomenal i love it when anybody’s making money you know as long
As it’s a legal way you’re making money all the power to you this is the most capitalistic channel maybe on youtube so i’m all for you however there’s a downside to that when money’s being made so easily when everybody seems to be jumping in people that have no business making money in this thing or just jumping in and making money so easy that’s usually a very
Bad sign guys do you remember 1999 probably not that was the tech bubble the tech bubble happened in 1999 into 2000 the market had been running from 1995 to 99 the nasdaq rose you know at ridiculous rates any tech stock that was anything was going up massively whether they had a true business model that that was behind that company or not and then 2000 happened
In the whole tech bubble burst but it seemed like everybody who was making money in tech in tech stocks thanked anybody just throwing money at any tech stock you make money you make money and then people got freaking slaughtered guys you remember the real estate bubble in 2007 it seemed like you know 2005-2006 like everybody was trying to buy a second house or
A third house it was so easy to make money and it’s like why not you you’re like giving you’re giving money away you’ve needed buy a second house third house rent it out do whatever it’s just going up the houses were going up you know so fast in value especially out here on the west coast and then what happened we had the the housing crisis and you gotta think
Housing is a hell of a lot more important than bitcoin or any cryptocurrency and we saw the way the housing market crashed right the number one probably investment piece out there then maybe stock right so for that reason i between me not fully understanding it between everybody just making such easy money there it’s really scary guys it’s really freaking scary
So i hope everybody does phenomenal i hope bitcoin does very good long-term and these other crypto currencies i hope they absolutely do phenomenal but at the same time i’m just not convinced that they are or they’re not and for that reason i’m not i’m not buying into them i’m not you know getting on the hype train or anything like that and you know all power
To people and i’ve missed out a lot opportunities over my investing career you know in this stock or that stock you know there was amd i didn’t really understand the vision for amd i never invest in it nvidia i looked super in-depth in in video three four years ago i didn’t i just didn’t really see the vision i wasn’t i didn’t really understand enough about the
Business at that time i didn’t invest in that could have made you know ten times my money or whatever if i would have bought in when i was looking into that company so there’s gonna be company sometimes i just miss because or you know investment reasons that i just missed because i don’t fully understand it but i would much rather you know sit on the sidelines in
Something and then rather than jump into something i don’t fully understand or see the vision for and then get slaughtered like a piggy guy so that’s that’s my that’s my way on this and that’s why i’m not buying bitcoin not buying cryptocurrencies i’m not against them i hope they do phenomenal i’m just just now for me at the end of the day and i know you know my
Investments might not be for everybody as well so that’s fine you know we’re not all gonna you know jump on the same train and that’s what makes a market on market guys i hope you enjoyed this thank you for watching and have a great day you
Transcribed from video
WHY I'M NOT BUYING BITCOIN OR CRYPTOCURRENCIES By Financial Education
