I’m bullish, obviously, it’s way down right now. I mean I took a hit everybody took a hit on you know so crypto divides into two different categories if you will their store value which is bitcoin right bitcoin. I don’t care what the maxis say bitcoin’s worth what somebody will pay for it. The maximum number of bitcoins out there are going to be right 21 million. That’s it right and that’s a good thing. But, you’ve got to have people who want to own it and hold it in order for the price to go up. What happened when everybody was buying it? Price went up. It’s a store value it’s driven by supply and demand. I think it’ll replace a lot of gold holders you know who in the past have owned gold and because no one owns physical gold it’s really just a digital transaction anyways.
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Bitcoin’s a better version of that than gold. So, I think bitcoin is going to be. But, where the price is going to go, and when it’s just supplying to what about Ethereum. Ethereum – I like the best right. But, here’s why Ethereum is driven by the right reason to use it, bitcoin maxis will tell you that there’s the lightning network. You can do wire, you can do transfers, money transfers around and that’s true right. But, there’s a site called crypto dot info right and that tells you how much in transaction fees. The network is actually generated.
So, how busy it is and how people are paying gas fees for transactions. You can see on bitcoin it’s been going down not out and on Ethereum, it’s the same way. But, there are millions of dollars’ worth of transactions that take place there. The issue is what drove the price of Ethereum up is people were needed to buy for gas fees for NFTs right. When everybody was just game over NFTs and everybody was going nuts over people were minting them that used gas fees. People were buying them that used gas fees, people were trading them that used gas fees and so that utility is what helped push Ethereum up right. Once the number of NFT transactions started to fall. Then there weren’t any natural buyers. Then it was the same play to earn you know is not going to work the way it’s structured right now.
You need something that’s going to be an application. It’s like if you think about the early days of the iPhone and mobile computing. We really didn’t know anything about apps right. It was just like what apps am I possibly going to use than all of a sudden Instagram’s their social media bam right now. All of a sudden, everybody’s going to download Instagram, every kid’s going to download Snapchat, every kid is going to download TikTok right now. Every kid is going to download even the YouTube app right. So, that is a utility that forces people to use your iPhone, use the app store or whatever. It’s a great way of looking at it with Ethereum. It’s the same type of thing. There’s no app where you say we all got to use it that’s what it needs and it’s not going to be like here’s Instagram for Ethereum. How do you think that happens then somebody just has a smart idea they created it like more people got to know.
He’s driving right the whole time. An investor then open scene. It’s been great right. Then played an investor in AXE the Infiniti Mavis. I think they messed it up right and they kind of got hurt because they got hacked and so it’s not fully fair. But, you’ve got to have a reason for people to buy the token whether it’s Ethereum or another one other than just speculation sure because when the speculators leave it’s like dogecoin Dogecoin’s fun right. Dogecoin is kind of the starter drug for crypto you know it’s cheap, easy maybe it is right it just can’t do anything with Dogecoin though you can buy stuff go to mavs.com, you can buy tickets, you can buy whatever coin for sure. When people were buying and trading Dogecoin a lot. We were making thousands of dollars a week 10 000 a week here and there right. So, it was real money for us, but at the same time once people start stop speculating on it.
People lost kind of the vibe for it right and novelty in it. Well, then it’s novelty but like I got back when it was under a penny my 12 year. But back, then, when he was like nine he was like “We gotta buy Dogecoin on Robin Hood”. But, it was his way to start as your kid. But now, he’s not supposed to because he wasn’t 18 or whatever. But, I hooked him up or whatever he’s into that young and now he set up he took the PC that he has for school and he mines Ethereum on it. Well, I don’t think Ethereum 2.0 is going to happen. So, I’m going to keep fighting now he’s 12. wow he’s got to feel it he’s not equipped to throw wizard but he knows where the money is like.
It’s crazy these kids are growing up around crypto now. It’s totally different for us. It’s so new but for them, it’s like that’s just something that’s influenced by you though. Unless you get that and his friends too. But, me and his friends like me like you know he sees me trying to make money and just being entrepreneurial. So, he likes being entrepreneurial but you know in crypto. In general, you need a reason to buy the token right. If it’s just for speculation, it’s going to go up and down. It’s probably going to disappear at some point because ninety-five percent of the blockchains are going to go, there’s just no reason for them to expect. Overall, you think Ethereum bitcoin. I think Ethereum bitcoin will survive. I just don’t know what the price is going to be and when right. I do think Ethereum with smart contracts like the reason I got excited about Ethereum.
Then there’s zero. That’s why you think the whole NFT thing kind of slowed down. Why do you think because once there wasn’t enough money coming in right. I mean it was all speculation. There are like 90 speculations 10. I just like what I like to own, like having a board APE. There’s still some cachet for whether or not you have it as your profile or not. But, at least, I get to say I have a board APE and so someone will pay some amount for it. I go on open C or Mintable or wherever wearable and like I’ll look every now and then if there’s something that just catches my eye it’s just cool. I’ll buy it. I’m not going to spend thousands of dollars. But, I’ll spend 10-20-50 on an NFT.
This article is a transcription of a video made by Jamie Tree
Original video: https://youtu.be/xb8FKxe_QxQ
