[VIDEO] Bitcoin is like a token of Trump's bankrupt casino

[Sanitough]

In the world of a Fiat slave..... "Money" or "Wealth" has to have "Intrinsic" value and it has to be backed by some centralized and regulated entity, so they will NEVER see the benefit of Bitcoin, because they are the sheep of the world and they have to have some authority that needs to guide them.

A Lottery ticket is worthless the moment when the draw are done.... (if you won nothing) but a bitcoin can be used to give you a guaranteed profit, if you manage it correctly. (Buy Low & Sell High) ...... the only resemblance between the two..... it is a gamble, like buying shares or Stocks.  

When you buy bitcoin, you support decentralization, you support fairness, and that is why humanity needs to achieve a centralized monetary policy that could easily be manipulated more than crypto. Yes, we do have a government because we elected the people who would run our country, but as to how our wealth should be managed, it should not be guided by any law that would only kill the liberty of using our own money.

[Umer.147]

Although HODL is very difficult but those who do so earns good profit. So crypto theory is to hold your token and earn profit 

[ILuckyGuyI]

Bitcoin is a losing lottery ticket? There is no way that someone can say this unless Bitcoin really makes all people lose their money. There are so many people who have made a lot of profit in it or even got rich thanks to it. How can Bitcoin be a losing lottery ticket for everyone in this case? So I must say that I disagree with the opinion but respect it.

[BuNga_cute]

Your definition of Bitcoin is peculiar to you alone, Bitcoin to me is not a losing ticket unless jump in and out of Bitcoin at the wrong timing, bitcoin is a store of value, and with the right application of knowledge and good timing, Bitcoin will be a lifesaver and a means to financial independence. I will suggest you work on your perspective, and you will begin to see Bitcoin global economic advantage.

It is also possible for people who think Bitcoin is like a losing lottery ticket because they made the wrong decisions when entering and leaving the market.
Because I consider Bitcoin as the savior of the economy, especially in a pandemic situation like now. Bitcoin can also be a retirement plan if hold
in the long term, because the price of Bitcoin continues to rise and can generate large profits. Sometimes people don't study Bitcoin properly, and only
hear other people's opinions, so a lot of people get the wrong information about Bitcoin.

[ene1980]

~
When you buy bitcoin, you support decentralization, you support fairness, and that is why humanity needs to achieve a centralized monetary policy that could easily be manipulated more than crypto. Yes, we do have a government because we elected the people who would run our country, but as to how our wealth should be managed, it should not be guided by any law that would only kill the liberty of using our own money.

Decentralized money is a new concept and everyone in the government is finding ways to come up with laws so that they can have more control over the cryptocurrency market because they fear that their control over their people will be gone if everyone starts using decentralized money which will enable them to trade easily without any barriers.

Not sure about the analogy the video is making and i do not want to watch that stupidity either. @OP if you could summarize the thing it would be great.

[Silberman]

https://youtu.be/p37Wg6h2PJ4

The linked video explains the difference between traditional financial instruments and bitcoin. Traditional are redeemable, while bitcoin is not. Which makes bitcoin equivalent to a losing lottery ticket. Or, similar to a stock of a bankrupt company, a currency of a former county or a casino token of a bankrupt casino.

I'm not trying to be rude or anything but very few people are going to watch a video when the review that we are getting out from you is very short and you don't really have any kind of compelling argument about why you think that bitcoin is like a losing lottery ticket, maybe if you actually gave a detailed review about the video people will be willing to watch it, but I really doubt that we are going to find any new argument about why bitcoin is bad and fiat currencies are good, we have heard everything already and we are still here.

[Spack17]

I think that Bitcoin is not a losing lottery ticket as long as you are not a panic seller. If you are a panic seller, then most likely you are going to lose a lot of money in the period. Because you don't have a roadmap in bad situations in the market. So you will think that the selling is the best thing you can do to prevent a bigger loss. However, you will be in a greater loss technically in the long run.

[boyptc]

Although HODL is very difficult but those who do so earns good profit. So crypto theory is to hold your token and earn profit 

It is not actually difficult to hold. Well, I guess it is if you're totally relying your money on it.

A holding investment should be kept for long and the money you pour into it is already expected not to be used for a long time.

[adzino]

Looks like another bitcoin hate video, so not going to watch it. Very highly likely made by someone who didn't invest when he had the chance to (or sold it for very cheap) and now regrets a lot that he started to make videos against bitcoin so that it might make him feel better. What do you mean by redeemable? By redeem if you mean exchange it for something else, then yes we can do that. By redeem if you mean it is not backed by something, then fiat currency also isn't redeemable. Anyway, stop spreading those shitty videos.

[Mcphail]

Bitcoin is a sure-fire lottery.The longer it takes, the bigger the jackpot.Bitcoin is not controlled by a government, which can print as much money as it wants.

[Nunoluck]

I can convert btc to fiat so I think bitcoin and other cryptocurrencies are redeemable. I usually use TRX to buy game items and there is no problem with it. Even El Salvador start to adopt bitcoin. I get a lot of profit from holding bitcoin and then I bought a car using that profit. I can convert my BTC to Gold if I want. But of course for me it will not be a profitable investment anymore. I bought bitcoin and I am not pretend it as a gambling, I did observation, calculation and etc before investing.

[Antithesis]

Your comparison is just off, I should say. If bitcoin is like a lottery ticket to which a lot already bet on, the people have already defeated the house and won against the lottery. If bitcoin is a lottery ticket, it is damn hell of a rigged one--in favor of the people at that, and I'd bet my cash there in a heartbeat.

Also, stocks of a bankrupt company? Who would, in their sane mind, even want to acquire stocks of a bankrupt company anyway? If your definition of bankrupt is hundreds of billions of $ in market capitalization, then you have a few screws loose in your head.

Read the OP. It's like a losing lottery ticket because both are numbers on a media, but not redeemable by the issuer. A stock of a bankrupt company is also not redeemable by the issuer.

[Gyfts]

https://youtu.be/52DuIE1-tJY

The linked video explains the difference between traditional financial instruments and bitcoin. Traditional are redeemable, while bitcoin is not. Which makes bitcoin equivalent to a losing lottery ticket. Or, similar to a stock of a bankrupt company, a currency of a former county or a casino token of a bankrupt casino.

Hundreds of thousands of people that won the bitcoin lottery disagree with you. I agree that bitcoin is a lottery ticket but I am not sure if it is the losing lottery ticket, yet. It is simply because it is still going up. If one day btc becomes near worthless, then I would say you were right, but not now.

If you turned your 100 bucks into 200, that's a win no matter how you look at it. It doesn't matter if it was bitcoin, stocks or pet rocks that did it, it was a winning ticket.

Exactly. Even if you view Bitcoin as a ponzi scheme of some sort, or pure gambling - you're taking a damn good gamble because Bitcoin does not have a built in inflationary mechanism put in place. All the centralized banks control inflation rates, and target it at 2 percent.

Does Bitcoin guarantee you'll lose 2 percent of its value year over year? Nope. I'd rather take my chances with BTC over fiat.

[Antithesis]

Your definition of Bitcoin is peculiar to you alone, Bitcoin to me is not a losing ticket unless jump in and out of Bitcoin at the wrong timing, bitcoin is a store of value, and with the right application of knowledge and good timing, Bitcoin will be a lifesaver and a means to financial independence. I will suggest you work on your perspective, and you will begin to see Bitcoin global economic advantage.

I haven't defined bitcoin, just compared it. The same as a losing lottery ticket bitcoins are numbers on a media, that are not redeemable by the issuer. So it's not about how much money someone made by trading it. It's about how silly is to even consider trading it.

[tygeade]

Personally, I think whoever created that video is confused. Fiat is redeemable and Same thing applies to Bitcoin. If Bitcoin is not redeemable then there wouldn’t be a way for you to withdraw it or convert it to cash. There are lots of exchange is such as binance.com or paxful.com that will allow you to redeem any crypto currency online eitherfor gift cards, cash,or another cryptocurrency.

So, saying that Bitcoin is not redeemable is completely wrong, people who don’t like it are ready to say anything just to bring it down. It is up to you to stop listening to them and do your own research and understand the fundamentals of cryptocurrency. Because if you keep listening to people, you will be misled and you continue to miss opportunities.Another thing you have to know is that no one is forcing you to make use of it, it is up to you and it’s a choice you have to make for yourself.

[Antithesis]

Personally, I think whoever created that video is confused. Fiat is redeemable and Same thing applies to Bitcoin. If Bitcoin is not redeemable then there wouldn’t be a way for you to withdraw it or convert it to cash. There are lots of exchange is such as binance.com or paxful.com that will allow you to redeem any crypto currency online eitherfor gift cards, cash,or another cryptocurrency.

So, saying that Bitcoin is not redeemable is completely wrong, people who don’t like it are ready to say anything just to bring it down. It is up to you to stop listening to them and do your own research and understand the fundamentals of cryptocurrency. Because if you keep listening to people, you will be misled and you continue to miss opportunities.Another thing you have to know is that no one is forcing you to make use of it, it is up to you and it’s a choice you have to make for yourself.

You are one of many people here that fail to differentiate between trading and redeeming. Trading is when a market participant converts instrument units to cash. Redeeming is when an instrument issuer converts instrument units to cash and in that way withdraws these units from market circulation. If you exchange cash for a bond you didn't redeem the bond, but buy it. Only the issuer can redeem an instrument.

[odolvlobo]

Redeeming is when an instrument issuer converts instrument units to cash and in that way withdraws these units from market circulation.

You have yet to explain why it is important for an issuer to issue something and then redeem it.

[Antithesis]

Redeeming is when an instrument issuer converts instrument units to cash and in that way withdraws these units from market circulation.

You have yet to explain why it is important for an issuer to issue something and then redeem it.

Because that's the reason financial instruments exist in the first place.

[odolvlobo]

Redeeming is when an instrument issuer converts instrument units to cash and in that way withdraws these units from market circulation.

You have yet to explain why it is important for an issuer to issue something and then redeem it.

Because that's the reason financial instruments exist in the first place.

That means that the ability to issue and redeem is not important because financial instruments can be based on Bitcoin.

[Antithesis]

Redeeming is when an instrument issuer converts instrument units to cash and in that way withdraws these units from market circulation.

You have yet to explain why it is important for an issuer to issue something and then redeem it.

Because that's the reason financial instruments exist in the first place.

That means that the ability to issue and redeem is not important because financial instruments can be based on Bitcoin.

So, if you decide to redeem casino tokens, and the casino that issued them, says: "redeeming is not important because financial instruments can be based on numbers on plastic", you would be ok with that? Because, you see, bitcoin is a number on digital media. Just like all financial instruments are numbers on some media. So, given your thinking, redeeming is not important because financial instruments are numbers on media. Are you aware how nonsensical your thinking is?