Richard Heart criticizes Bitcoin's low adoption, noting only 16% of Americans would use crypto and merchant acceptance is dwindling. He argues Bitcoin's price should be around $800 for stability in remittances and hyperinflation economies, and suggests Bitcoin Hex offers a better alternative.
Hey you, welcome back to the channel. And guys, today I want to talk about the Bitcoin Hex recent interview with Richard Heart, uh, being interviewed by Juan Escalt. And so, uh, very excited about Bitcoin Hex. Uh, if you don't know what Bitcoin Hex is, it's this latest Bitcoin fork, uh, that uses Ethereum smart contracts. But it does something very interesting. It allows you to claim Satoshi's unused coins as well as penalties against certain Bitcoin holders who will transfer their value or gain these tokens through a fork through the Bitcoin they hold. And just some very interesting new ideas, I think, that is going to help to improve the cryptocurrency space. But I want to talk about the latest interview Mr. Richard Heart did, and I just want to tune in on some of it. I'm going to leave a link in the description. You really need to watch this entire interview. I just want to get a clip of this, and I hope they don't mind, just to be able to comment on it. I hope they don't mind me using a small portion of their interview to comment on, but we're going to show you some of the great points that Richard Heart makes. I'm in agreement with a lot of his points. I love the Bitcoin Heads project. And as I've said, it had a lot to do with me creating BitcoinMYK, which is going in a significantly different direction than Bitcoin Hex, but I do believe this is going to end up being the future of the cryptocurrency space, and I think these— many of the ideas Richard Heart is proposing, uh, is going to be, uh, a good route to take in the future. But anyway, I, I want you to hear some of what happened in this interview, and I then I want to comment on it.
It looks like cryptocurrencies are not used as currencies today. No one accepts them. Nobody. 4 out of the top 100 retailers accept crypto. A lot of ATMs that used to exist, they don't exist anymore. A lot of Bitcoin companies that hired big teams have fired their big teams. Search volume, dead. Price, dead. Most altcoins down 95%. Bitcoin down 85%. Now, if you got in at 30 or when I did, or slightly earlier depending on what part of my stack you want to look at, um, I don't give a fuck. $3,000 is pretty nice. This isn't that bad. But if you got in at $15K, the $3,000 seems pretty shitty to you, right? And a lot of, like, people like me that have been retired since 2003, I can hold. I can just keep holding, right? Oh, I can wait for the next bull run. I can wait 5 years, whatever. I don't think it'll take that long. I think it will take maximum 1 year, and if Bitcoin Hex works, it might go a lot quicker. Um, people have a reason to buy the Bitcoin, which right now, if you think about it, what do you really need to buy Bitcoin for? What do you need to buy Bitcoin for? Uh, nothing. Maybe if you want to transact on the darknet markets, if you can find one.
And guys, I'm just gonna stop right there. But, and maybe I need to get off this video as well because I don't wanna, I don't want, I'm looking for one of my videos here. But, you know, this was very interesting and it made a lot of sense to me, but it, Richard Heart talks about the demand for Bitcoin. And, you know, he's basically touching on what is the demand for Bitcoin? Does it have a demand? to be used? What are we using it for? Do we need to use it? Now, interesting enough, um, I did some videos, um, uh, um, not long ago that talked about a poll taken on Americans that suggested that less than 16% of the American population even felt they would ever use cryptocurrency, whereas 84% thought that, uh, they didn't need to use it and never planned to use it. And so demand is, uh, what is missing from Bitcoin. Now, interesting enough, some statistics actually suggested that Bitcoin, the best price it could function at was about $800 per Bitcoin. And the reason being was because that was the price that allowed for a steady volume of trade for people in nations that needed to get their money out. Uh, there are some countries of the world where if you wish to leave, you're free to leave, but without your money. And, uh, of course, hyperinflation accounts for a lot. People will have to use cryptocurrency to deal with hyperinflation of their currency. The next day it might be worth nothing, and so keeping their value there wouldn't make a lot of sense. And so these are great demands for cryptocurrency, but in all of that, Bitcoin's value traded the best around about $800, uh, under these factors being considered, as, as quite a bit of research was done on that. But now to try to project out a $50,000 Bitcoin or $100,000 Bitcoin in hopes that this will be adopted, you know, um, you know, it's gonna really— we're gonna really have to think hard and long about this and try to figure out, you know, is this the direction we want to keep going in, telling us, telling ourselves that same story? Now, Richard Hart, uh, you need to watch this entire video. He goes into great detail about, uh, you know, what he thinks needs to happen with that and why some Bitcoin, some other Bitcoin projects may be the answer for that. And he talks about Bitcoin Hex, his latest project that I'm, I'm very excited about and I want to participate in, definitely. Uh, but I invite you all to watch this. This is his latest update on Bitcoin Hex where he tells you a little bit about what's going to be going on with that. But, uh, great points, great video, guys. Um, you know, uh, tell me, uh, tell me, do you feel you need to use cryptocurrency in the comments section? And then give me an example, give me your best example of when you use cryptocurrency, uh, you know, a time you need to use it or a time that you thought it was necessary for you to use it. And, uh, and let's talk about that a little bit, and let's see what the future of, uh, of, you know, cryptocurrency is going to look like. I'm definitely pro-cryptocurrency, uh, and I, I do think there are some uses for cryptocurrency that are going to work very, very well. I think where I'm in disagreement with in the cryptocurrency space is that some of the ideas of where it's going to work at I may not agree with that. But anyway, guys, that's all I want to talk, talk to you about. Uh, be sure to watch this interview. It's a great interview. Uh, guys, if you like content like this, don't forget to like, subscribe, and until next time, take care.
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