In this video, I discuss Ray Dalio's comment that Bitcoin will be banned.
There are many problems with Dalio's statement including:
1) It assumes that Bitcoin will go up 5-10x from here to even put it on the radar of governments to be banned. So you have to be really bullish on Bitcoin at $16,000 to even be worrying about this as a future possibility
2) The prices of things that are banned usually go up (alcohol, marijuana, LSD, guns and accessories, gold in 1933)
3) Bitcoin is non-physical and decentralized, which makes it almost impossible to stop. There are full nodes and miners all over the world. You would need every single country to cooperate, and many of them might not choose to be hostile to a currency like BTC that is a potential threat to the USD.
4) Capital is mobile. So are Bitcoiners. You can ban them, but then they will just move to a more friendly jurisdiction. Brain drain and capital drain.
5) As more Bitcoiners get elected to public office and appointed to regulatory positions of power, they will pass laws and regulations that are Bitcoin-friendly.
6) The game theory of Bitcoin-- it is safer just to own a little bit of Bitcoin as an insurance policy. Why ban it when you can own it?
7) Millennials and Gen Z are much more crypto-friendly that preceding generations. This bodes well for Bitcoin and poorly for gold.
Not investment advice! Consult a financial advisor.
Ray Dalio on Bitcoin:
https://www.coindesk.com/bridgewaters-dalio-sees-governments-banning-bitcoin-should-it-become-materialhttps://www.youtube.com/watch?v=eCZc7DEIyEI&ab_channel=DailyStoryRather than being banned, Bitcoin institutional adoption is actually increasing:
https://www.occ.gov/news-issuances/news-releases/2020/nr-occ-2020-98.htmlhttps://newsroom.paypal-corp.com/2020-10-21-PayPal-Launches-New-Service-Enabling-Users-to-Buy-Hold-and-Sell-Cryptocurrencyhttps://u.today/jpmorgan-says-institutions-ditching-gold-etfs-for-bitcoinMy favorite Bitcoin dashboard:
https://bitcoin.clarkmoody.com/dashboard/Market caps of S&P 500 companies:
https://fknol.com/list/market-cap-sp-500-index-companies.phpMap of Bitcoin nodes:
https://bitnodes.io/Bitcoiner elected to U.S. Senate:
https://news.bitcoin.com/senate-election-cynthia-lummis-bitcoin/More billionaires buying Bitcoin:
https://www.youtube.com/watch?v=AvbVSlC9zgE&ab_channel=TraderUniversityCheck out my online trading courses:
https://www.trader.university/joinUse this secret coupon code to get a discount: YT99
Check out my Amazon best-seller, "A Beginner's Guide to the Stock Market":
https://www.amazon.com/Beginners-Guide-Stock-Market-Everything-ebook/dp/B07S31TBF5I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.
My opinion is no
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