Bitcoin 80% Crash Coming - BTC Replacement

Welcome back to the channel, and I hope you all are having a great day. So today we're going to talk about Bitcoin, why, uh, many believe it's going to be replaced. Uh, we're going to talk about, um, possibly an impending crash that could be as much as 80% drop in the value of Bitcoin. So we got a lot to talk about today. And so let's get started here. So I know a lot of people thinking, well, uh, Education Entertainment TV, here's another, some more information you went and pulled out of your butt. So not exactly coming from me, uh, this time around, 100%, although I do agree with some, some of these things said. Um, but, um, there is a familiar, um personality making their rounds around cryptocurrency by the name of Plan B. And I'm gonna, uh, from his own, um, information aside, explain to you what this idea of Plan B is and, and who is this exactly. So Plan B at $100 trillion is a Dutch former institutional investor, 25 years experience— experiences in financial markets. He has a legal and quantitative finance background and has always been fascinated by modeling Risk and Return. In March 2019, he created the Bitcoin Stock-to-Flow Model, where he uses scarcity to quantify Bitcoin value. A year later, he introduced the Stock-to-Flow Cross-Asset Model, which includes gold, silver, diamond, and real estate. He is now primarily focused on Bitcoin valuation models, on-chain analysis, and investment strategies. Why the name Plan B? Refers to alternative plan for quantitative easing, printing money by central banks. Negative interest rates and currency debasement in general. $100 trillion is a reference to the Zimbabwe $100 trillion note during the 2008 hyperinflation, right? And of course, many of us familiar with what happened to the Zimbabwe dollar. It start to, you know, print $100 trillion notes because the value of the currency had hyperinflated, right? So, uh, the, the importance of this is that Plan B has, uh, through some of his models come up with that we're going to possibly see a Bitcoin crash. Could be, uh, as, as high as, uh, or crash down, um, as low as 80%, right? Um, and that would be catastrophic almost, right? That's put— that'll push Bitcoin like under $20,000, right? Um, which have been in line with some of my earlier predictions. But, uh, I think with this personality here, that, uh, based on his models and the accuracy of them, it becomes a lot more— there's a lot more credence given to it, right? It's a lot more validity than maybe my own predictions. Um, now, um, what I think needs to be understood and what a lot of people miss in cryptocurrency, in these markets, is one key word, one key idea, and that's manipulation, right? We seem to forget that these markets are heavily manipulated and they aren't manipulated by just the average Joe Blow over here, or you or I. They're manipulated at the institutional level, right? And that is what's coming out in a lot of these articles and models is that we don't include that. And that a lot of Bitcoin, remember these prices are relative to over 90% of centralized cryptocurrency exchanges, right? These exchanges have a lot of this Bitcoin and these institutions in cold storage, right? So a lot of this Bitcoin is off the exchanges, right? But when it's put back on exchanges, right? Obviously put back on and is shorted, the price of Bitcoin could tremendously drop. Hopping. Um, the manipulation at these institutional levels isn't what's being introduced into a lot of the more optimistic mindsets, right? So that's the basic idea of why we're probably going to see this dump and see this crash. Now, what's gonna, uh, trigger it? Uh, it could be anything from a news story. It could be put out by anybody, you know, on the institutional side or whatever. But this is also part of big problem of why Bitcoin's lack of decentralization is a problem for the core idea and dream of Bitcoin, right? And the great optimists, many of us, and it's hard to have a good conversation. It's hard to have a conversation in the realm of real, being realistic with a lot of people because They live in this cloud of optimism. Even some of the well-known, you know, institutional level investors, take somebody like Michael Saylor, who I like him, but I think he's overoptimistic about Bitcoin and many of these, you know, these ideas about Bitcoin. He doesn't feel it can be replaced. I feel anything can be replaced. But let's go into that now. Let's talk about, as we've covered this first part about why people like Plan B are saying we could see these huge dumps like 80%, let's talk a little bit about why the future of Bitcoin Bitcoin could lead to a replacement of Bitcoin. Okay, here on the BitcoinMYK site, and we're going to talk now about, uh, how the Bitcoin replacement could come and why it's likely going to come. So, you know, again, we— I understand that many are optimistic about Bitcoin, and I understand why. And I think originally some of the narratives were about Bitcoin were, um, were good narratives and Bitcoin was heading that direction. But I think we need to speak a little bit about some of the reasons why I think Bitcoin will be replaced in the future and why it's likely and why I believe products like Bitcoin MYK are going to be likely to replace it. So first, the first part we need to understand is The idea that Bitcoin is decentralized, right? That, I believe, is a false narrative, right? For example, Bitcoin, 87% of the entire Bitcoin network is owned by about 1% of the network. So Bitcoin is not decentralized, right? It is certainly not. Now, The thing is, um, um, the, the, the distribution rate of, uh, cryptocurrency, who controls the network value-wise, wealth-wise, right? Who the miners are, the developments, the exchanges, the geographical location of the mining, you know, all that is what makes Bitcoin decentralized versus centralized, right? Bitcoin has a very low score in most of these areas, um, and, uh, you know, Bitcoin is manipulated by institutional investors. And although many people are hoping it'll get better, um, and that there'll be more people in Bitcoin, and by default it will I kind of feel like Bitcoin has already crossed the Rubicon, and it's probably easier just to, uh, have a different structure that operates more for the betterment of the people. Now, the other part we, we need to understand about Bitcoin, uh, and this is very important, We need to understand that Bitcoin is functioning and operating more like an asset or, right, store value, right? And what does that mean when you have an asset, right? You have an asset that people are using for the price to go up, right? You're gonna get a lot of speculation. You're gonna get people who aren't willing to sell this thing, right? So you're going to get— oh, it's going to change hands a lot less. The velocity of money in Bitcoin is not going to work out well, right? And that's another reason why I think Bitcoin is going to be replaced, because it doesn't function as a currency, right? Currencies are the things that bring economic prosperity, good distribution. I'll give you an example, right? If you look at something like what would have happened if Facebook Libra coin— if Facebook Libra coin would have launched, uh, without interference from governments, it would have been a bigger cryptocurrency than Bitcoin and would have created more economic prosperity. Why? Because the network of Facebook would have contained about 2.5 billion users, but in addition to that, it more likely would have distributed this cryptocurrency like a stablecoin, which was the looming idea. Now, currencies in economics create more prosperity than assets, right? And that can be proven. Look how many people control dollars, right? And how many people through cash and credit are able to rise up to another economic class. Couple that with people who store and hold gold, and, uh, the less amount of change in hands of gold, the less amount of transactions done in gold over the dollar, right? And that's the point that I'm making about why Bitcoin will be replaced. Bitcoin will be replaced because it is not a currency, right? It doesn't function as one that's going to be able to do that. What will function better and operate better than Bitcoin will be a currency with a network, right? And that could be a social network, or it could be, uh, and let me be clear here, projects like Bitcoin MYK that have these social networks that you can like posts and you can do various things, and when you do it, the people get the cryptocurrency, the users, the members. The reason that's all important, because it's a very easy educationally, uh, way to, uh, for people to adopt to cryptocurrency. And Bitcoin, uh, is about a 6-month, uh, uh, uh, process, right, for education-wise. Whereas they're always already well educated on social media-like interfaces, right? So you're looking at with something like this about 2 or 3 days. So, um, the last point why I think Bitcoin is going to be replaced is that it's going to depend— Bitcoin is going to depend a lot on the millennial generation. And what are the millennial generations saying across the aisle, whether they be, uh, right-wing or whether they be liberal or, or a Republican or Democrat or whatever the case may be? On all sides, many of them are concerned about the environment, right? Narrative on the— on Bitcoin is not good for them. So, uh, it's likely that they're going to be looking for alternatives or having difficulty understanding a lot of the, uh, the theories and ideas about Bitcoin in its place in our environment in the future. All right, so, so much to unpack there. BitcoinMYK already uses proof-of-stake, uh, algorithm model. BitcoinMYK already has a social media interface Uh, that makes it a lot easier for even your grandparents to adopt it, right? Because they're already using systems that look like Facebook, right? And, um, it's also a free cryptocurrency, much like how, how, um, currencies were introduced to you in a very free way, right? You never went out and bought money. Your money was actually— you first probably got money because somebody gave it to you, or there was some transfer of service, right? And, uh, right, that's how Bitcoin MYK works. It is an accumulation. It is an aggregate accumulation and a metric that rewards you and measures your value to society, right? And your value that you bring to the network. And you are given this cryptocurrency based on that. It is not based on your wealth position how much money you came in cryptocurrency with, how much institutions manipulate it. It is the direct opposite of all that. And whereas Bitcoin has become more of an institutional tool, other cryptocurrencies, I believe, in our near futures will be on the other side of that equation. And so they will be more appealing to the true spirit of what Bitcoin was meant to be. Be. But that's all I want to say in this video. If you have more questions about these ideas and why this is likely to happen, feel free to leave comments in the comment section. We'll be more than happy to entertain it, give you some feedback, our thoughts on it, and see for yourself if they, uh, resonate with you or if they are true or not. But anyway, uh, if you like content like this Don't forget to like, subscribe, and until next time, as always, take care of yourselves and each other. Don't forget to join BitcoinMYK. It's absolutely free. It was meant to you. So go ahead and take advantage of the free value that you can get. And, uh, uh, BitcoinMYK, we believe, will be a big part of cryptocurrency space in the future. Make sure you have, uh, your part to play in that as well, and that you have enough BitcoinMYK from your contributions by joining our network. Um, and being, uh, valued by us, uh, like you should be. That's all I want to say in this video. Until next time, take care.