Bit-Tube - Best Cryptocurrency Investment?

Hey you, welcome back to the channel. And guys, today I want to talk about is BitTube the best cryptocurrency investment? And first off, let me just start off by saying that, uh, the opinions and views expressed in this video is not financial advice, it's just an opinion. You have to do your own due diligence and research, and thus the question is being asked: is this the best investment in cryptocurrency? So if you're like me, you probably didn't even know what BitTube was for a long time, and maybe some of you, this might be your first time hearing about it, or you're not familiar with it, but Just like the name suggests, it's, um, uh, it's, uh, similar to YouTube, um, and so it's using like a similar YouTube model and, and various things like that. But, uh, let's, let's explore this a little bit and let's, let's see some of the reasoning behind why it even— to me, it even falls under this, this question category, right? So as we look at the total supply of BitTube, the total supply is 82,110,735 tokens. The market cap of, um, uh, BitTube is $2,640,658. Volume over the last 24 hours, 48,000. $798. Almost non-existent volume, right? So you look at this and you go, well, um, um, it doesn't look that impressive. It's ranked number 635 on CoinMarketCap. However, if we look at these numbers again, guys, $2 million Now, if you visit BitTube's platform, you will find out that it has a great user-friendly website. Looks exactly like YouTube. If you can use YouTube, if you like the YouTube layout and feel, BitTube almost has that exact same layout, right? So first, before we really look into even putting it in this question category, you know, or even considering it, looking at the stats so far, which don't look that impressive, let's ask the question: what makes a good cryptocurrency investment? In other words, what would you, what would you all consider to be a good reason to invest in cryptocurrency? So my first, my first thought process in this would be, is it something that has value to people that people are going to use? And if so, why? Like, why would I use cryptocurrency, guys? If you were going to try to sell me on using cryptocurrency, you should consider that I live in the West. I live in the United States of America. I use MasterCard, I use Visa. Um, the banks that I use are stable. And so the point I'm making, guys, is that the money— the monetary system that I'm under now in the United States, uh, You know, no, no matter how much many of us can see many issues in it and many problems in it, at the end of the day, it still runs the world. People still use it without issues, without problems. And there isn't really a sense of urgency in the West at this point to adapt cryptocurrency. That's just the facts, guys. It's, you you know, when your families come home at night, when we go through the course of events throughout the day, uh, I, I'm, I'm not running up against people who are telling me things like, um, you know, um, it's, it's dire that, uh, I find some other way to transact money today. You know, that's just not, that's just not the case where I live now. I do know that other parts of the world, it is very much the case as they suffer from hyperinflation. And these are very important use cases to cryptocurrency because obviously, so obviously, if you go out and you work and you're paid in, uh, money that, uh, 24 hours later, 90% of its value is gone that's going to be reason for concern, immediate concern, urgency. And so one issue and one problem I'm finding in cryptocurrency when it, when it comes to considering what's good investment and what's going to be a good token to invest in, um, is this type of, um, you know, for lack of a better word, what I might kind of considered a code of cryptocurrency. And that's kind of the idealism, the idealist about, you know, cryptocurrency and what it, what it should be doing. And maybe that, that idea and those viewpoints are, will be the case in years to come. And, you know, and I'm sure that's part of that. But the point I'm trying to make, guys, is the the reality of the world we live in now, uh, in many parts of the world, um, is their monetary system is still working, um, and it's working to a point where it's stable enough for people not to want to act. And so what, what would be required in a case like that would be a message of use and urgency that is needed today. And, you know, that's pretty much what it comes to, guys. That's why the cryptocurrency pool is so low right now. That's why people aren't adopting over so quickly, because there's just no urgency to do so right at this point in time. So let's, let's move over to, to some other use cases that might cause people to adapt quicker and We're going to deal with— I'm going to stand in the areas of stable economies, then I'm going to— so because we need to be distinct about these demographics as well, because sometimes people will create use cases for cryptocurrency, but they won't pinpoint good use demographic-wise who's using it, right? And who would have to use it. So we're We also have to consider that. So let's stand in more stable economies for a moment now and try to find some other reasons. So the next reason I think would be something like privacy, right? So who's going to be really, uh, um, who's going to be really interested in the privacy of their money and moving it and various things like that? Many, many of us going to be interested in that to a, to a great degree, but Who's, who's gonna— where's a lot of urgency gonna come in for that? And that's probably gonna be— and these are gonna be kind of, you know, not good examples but probably true examples— it's going to probably be something like gambling, prostitution, and drugs. You know, these are transactions that you people don't have a sense of urgency for people not to know about, right? Uh, you know, if, if, if you're, um, doing some type of, uh, activity you want to hide, um, if it's to do with some type of sexual activity, websites, webcam girls, porn sites that require use of, uh, spending money, um, you know Some people would want those transactions to be private, so there would be a use case in that. But we have to look at, that's a demographic situation. That's a demographic situation that's going to go into, um, a particular set of people, right, that are, that are doing that. And so that's not going to serve the masses of people as far as urgency and need. So what else, what, what else could we look at that's going to serve everybody? Because the examples we've given so far about good investments in cryptocurrencies, one good case we came up with was hyperinflation, you know, where people are forced into using black market type activity just to get food and bread because their currency is no good. And, uh, um, it, it, you know, they need to transact commerce and business, and the only way they're going to be able to do that in a hyperinflated, uh, land is through probably some kind of barter system, or if they had some type of decentralized currency like what you, you get with Bitcoin and many of these other cryptocurrencies. So then we move back to where stable at and where people's banking system and money and is, is pretty stable. People are eating, so there's no need for revolution or revolt or blood in the streets. And you get to activities that require a great deal of privacy, right? And so that's a special demographic, you know, and, uh, again, I'm not saying that people, uh, a lot of people wouldn't find use in this, but what I found that in the best investments comes urgency, right? The question is, where's that urgency in that that's fueling people to, to do this? So what would be the next thing that would probably fuel use of a cryptocurrency in a way that people would, um, a large demographic of people could participate and not be, um, uh, uh, uh, categorized out due to the fact they either don't really need to use it or the reasons it's being used for doesn't apply to them? Well, what comes to mind to me would be things like entertainment and education, right? When you think about entertainment and education, uh, how, like, who uses that? Doesn't everybody use entertainment and education? And, um, and so, uh, let's look at why you would even need cryptocurrency in that. Well, In certain forms of entertainment, let's take YouTube for example, uh, with a similar sound to BitTube. With YouTube, I watch a lot of YouTube. A lot of people I know are entertained on YouTube. It's part social media site, so they're on there, they're using it. Billions of people use YouTube, so that shows a great demand for YouTube right there. And YouTube covers everything from education, entertainment to awareness. And it also is because especially when in the education area, audiovisual is probably without a doubt the best way to learn, right? And so you can pick all that up off of, you know, certain content on over video media and various things like that. So these are areas where it's going to be a sense of urgency and demand where I need to use this. I need to come home and turn YouTube on and watch YouTube every day. Uh, there is a great demand for that with me. So where's— why would I need to use a cryptocurrency in something like YouTube or something like that? Well, the problem with, or what's becoming a big issue with areas like YouTube is censorship. Uh, and because again, it is really a social network too at its essence, uh, the idea that I contribute to your network, uh, but I'm not sharing in the value that I'm putting forth, right? And you know, so In that, in that regard, in that sense, what's going to happen is you're going to have these private entities that control everything that happens in that network through their terms of service and various things like that. And so you would need something like a cryptocurrency in the social media world. That's, that's big business right now, and, and entertainment, a demand that we need. You would need something like that to be decentralized, not only from the content area, but also decentralized in the monetary policy area. So in that, in that regard, because I need entertainment, I need education, audiovisual is the best way to learn. Audiovisual, you know, in that, in that regard, so many people use these type things. There's the demand I think that that would be a very good use case in the cryptocurrency world. I think it would be a good investment in my opinion. So let's look at BitTube. Like, BitTube, $2 million market cap. Let's think about that. Now we know that YouTube's billions— has billions, is worth billions upon billions of dollars, right? And so, um, a company like, or a, um, a situation like BitTube that is in that same area, uh, and solving issues in that area that the, uh, most successful part of that industry is not, uh, it's very easy for me to come to the conclusion that they will be able to grow and get a part of that market share. And right now they only have like $2 million of that. I mean, if we look at the historical data of BitTube, uh, it's been as high as 30 cents a coin which basically means that it's already reached— and it hasn't been out that long— it's already reached a market cap of about $26 million, right? Uh, about 10 times what it is today. And even if it was sitting at $26 million, how many, uh, guys, how many cryptocurrencies The worst of the worst coins, coins what we actually refer to as shitcoins, how many of them have a market cap of $26 million and higher? And, um, you know, some other good things about, um, BitTube, you know, as I've received some comments about BitTube about, well, this token seems valueless in that Uh, where do you trade it? I can't seem to find— well, BitTube has been trading on Bittrex, one of the biggest exchanges, that one of the ones I use the most. And they're sitting there, and I think the reason why people might not know they're sitting there because, uh, of the abbreviation of their token. It's— I think it's abbreviated like TubeCoin or something like that. So they might be looking for another abbreviation, but it is on Bittrex. And you can see as early as within the same month, uh, BitTube's value has been already in, in the month of August alone, it's been twice the value it's at now. But you know, again, what you would have to consider and look at is the market capitalization. How much value do you think a platform like BitTube can offer over into not just the crypto space but the entire globe, because the entire world. Because the thing is this, uh, when you visit the BitTube site, BitTube is laid out just like YouTube. So let's Let's consider that for a moment. If BitTube is laid out just like YouTube, um, that means that everybody who uses YouTube is probably going to have no problem using BitTube. And how many people use YouTube? So let's also consider another portion of the idea of a good investment in cryptocurrency that I think many of us agree will be important, and that's mass adoption. So a lot of people say, well, everybody talks about mass adoption, everybody says that they're fit for mass adoption, but in the reality of mass adoption, how many people, how many cryptocurrencies are— have that you can really look at and say has really had an impact on the rest of the world as far as mass adoption, with the exception of maybe Bitcoin. Bitcoin is the only thing, only cryptocurrency you really ever hear about in the news, period. And it's been around for about 10 years. And even in that, Bitcoin only has about 30 million wallets, even though it's on CNBC, it's on TV all the time. So This— the idea of mass adoption, uh, although being a super very important factor in what makes a coin worth, I think, in my opinion, a good investment and why you should be investing in it, with that considered, besides Bitcoin They're about the only people, only coin that has really even grabbed the attention of the global market now. And a reason I— and I— and one of the major reasons I think that is because a lot of people just don't know what to do with it. It's more like, what am I going to do with this? Like, what, what am I going to do with this? But think about that in relation to BitTube. What can they do with BitTube? Well, they could do everything they do on YouTube, right? So they could participate. They have a use case. And when I say use case, we're talking about an overall demographic. We're not talking about people who have hyperinflated currency. We're not talking about you know, people who, um, want something to move faster, a transaction to go faster, want to do a billion transactions a second, only for people not to even still have a reason to use their token. Um, and so with this, these people can participate, do the things that they have a need to do, have a use to do, have a demand to do, and can easily understand it because also If you're gonna— we're gonna add mass adoption into it being a good case for use and a good reason to invest in a token, you gotta have a very easy interface to get so many people using your token and over. It's got to be very user-friendly. So for something to be very user-friendly, let's look at this scenario. Wouldn't it be much easier just for them to, to use something, uh, as far as layout that they've already been using for like the last, uh, 20 years, you know, you know, which is, you know, YouTube, you know, when it's come on, come on the scene, you know, in the early 2000s or what have you. And, you know, wouldn't that be so much easier for mass adoption? So, so do I think BitTube is a good investment in my opinion, or is it the best investment? I think it possibly could be simply because the layout is— everybody uses YouTube and everybody understands, everybody has a reason to use it. And, you know, to give that to people and give them more features to pay them for watching these videos when they watch a gazillion of them a day? Yeah, I think it makes perfect sense. Um, and you know, another thing I want to say this real quick and I'm going to get out of here, but another issue that happens, I see a lot in technology in the cryptocurrency space is that, you know, in relation to should I invest in this token and Why should I? And what are the dangers of investing in it? And will it always be performing at a certain level? And, uh, and this, that, and the other. Well, with technology, I found in the cryptocurrency, technology moves fast. So somebody creates something, then somebody comes along and goes, well, I see where you've created this and everything works great with that, but if only you would tweak this or do that. It would be so much better. So what generally happens next is the entity that's created this technology and came out the gate first with it is dragging its dragon ass, and the impatient, uh, uh, uh, uh, uh, endeavors to push technology on forward to heighten it, to move it to the next level, to lift the spirit of cryptocurrency, what happens? People start to fork off. They create this entity that does everything that the people wants it to do. Now the prior, uh, cryptocurrency coin has become obsolete because either they were too slow or they didn't have the technology or they didn't have the vision. To see what this other group has seen. So the, so the point I'm making is in, in that too, you're going to have this technology race and you're going to have this who comes out the gate first with this, who does it better, and who manages to brand it well enough to keep the lead, to keep the, uh, participants, to keep the community. And so BitTube could have that problem or it could not have that problem. It all, it all is going to depend on, you know, how they come out the gate, how they do, how they, you know, how they execute their plans. And right now they aren't really set to do any major marketing on this until 2019, which is right around the corner. But I think BitTube is looking great so far. So unless something like that happens, I can see them growing grabbing a pretty good market share of some of the money over at YouTube, which is a lot, especially with everything going on with censorship, the ad revenues. And, you know, and so all that's going to be important. And there are a lot of other video cryptocurrency sites. BitTube's not unique in that, but they are seemingly to me unique in this idea of POV or proof of viewing. And so this is going to be all interesting to watch and see unfold, but BitTube to me has a big jump out of the gate. They're already on Bittrex, a major exchange. They have a great, awesome layout. And so for me, it's a no-brainer. It's a good token, but I do advise you to do your own research to can be mindful and consider what cryptocurrency is trying to achieve and how we see that happening exactly. So, uh, guys, that's what I want to say about BitTube. Um, guys, if you like content like this, don't forget to like and subscribe. And until next time, take care.