Why sell crypto for dollars? Because you need dollars to pay for a house, groceries, and movie tickets. The speaker argues that widespread crypto adoption won't happen, the dollar still dominates globally, and capital gains taxes make spending crypto directly painful.
I made a video saying I'm going to sell my crypto on the next bull run, and a lot of great comments were like, dude, are you dumb? Like, why would you sell? Why would you sell? You're not gonna sell? You're not gonna take profit? That's the dumbest move ever, is to not take profit in crypto. Your crypto profits will literally evaporate in front of your eyes if you do not take them. And I got some comments like, sell into dollars? You're gonna sell your crypto for the shitcoin that is dollars? And yes, I am, because this house with this movie theater, I have to pay for it in dollars. It is in dollars. So dollars still run the world. Yes, it's a shitcoin. Yes, they print it into oblivion, but it still is the number one spell that they have everyone under is dollars. Here's the thing as well. We are never going to convince the entire world to switch to cryptocurrency. It's not going to happen. There are people who have been working in the same job system for 30 years. They do not want to switch to your dumbass currency. It's not going to happen, okay? We're not going to get that to happen. And so every single day we all wake up and we value cryptocurrency against regular currency. You look at your Bitcoin price, your XRP price, against the dollar. There's a reason for that. It's because you care about how much dollars you can sell that for. Why do you care if you're so against taking profit? Why do you wake up and value your portfolio against dollars? Value it against Bitcoin or something, right? If Bitcoin is your money, value it against Bitcoin. But then guess what? The Bitcoin guys are so obsessed the price in dollars. Dollars is still king. So number one, we're never going to get any— everyone to use crypto, so it's never going to wipe the dollar away. And therefore, there will always be a certain group of people caring about the exchange rate from crypto to dollars. So it's just— we're back in the same system, except now you can make private transactions with cryptocurrency. I understand the options for spending crypto are going up, but why would I want to spend crypto on groceries? I have to pay a capital gains tax on my groceries? No. Some countries are making rules that certain purchases under a certain amount don't need capital gains tax. Dude, no one wants to Would you spend your XRP on some damn food? No, because you think it's gonna go up and make you more money. Yes, I'm gonna take profits. I want to make some money for my years in crypto. I finally want to cash some out.
