Bitcoin - Sell Off Cause/Richard Heart Hex Coin/BtcMyk Arbitrage

Hey you, welcome back to the channel. And today we want to talk a little bit about Bitcoin, this massive sell-off we got over the last 24 hours, um, what might be some of the causes of that, um, and, um, uh, quite a big scare that, um, some traders got over the course of the last 24 hours. So let's talk about that a little bit today, uh, as well we're going to discuss, um, Richard Heart's, uh, Hex coin project a little bit, um, and we're going to talk about, um, some arbitrage, um, opportunity that seemingly has taken place with Bitcoin and YK on the Freedom Exchange. So, um, and looking at what some of the causes and some of the factors could be in the price of the decline of Bitcoin, you know, I think it's very important. In several past videos, we've talked quite a great deal about fundamental analysis versus technical analysis. And with fundamental analysis, of course, you're able to gather the information and understand some of the driving forces behind the market, whereas technical analysis seemingly, or the philosophy is it factors in the already these outcomes, which, which is kind of very difficult for me to to gauge that, seeing that future events can pop up and change things. Some of my earlier predictions with Bitcoin, I made the $800 Bitcoin prediction, and a lot of people just thought that was utterly ridiculous. But, and understand the driving force behind Bitcoin and some of the analysis and a lot of data provided over the course of several videos. There are many factors that went into that. You know, for instance, the efficiency of miners, the amount, what it costs to mine a Bitcoin, which is around $1,600 at this point in time. Now, of course, where the actual value of Bitcoin's at and what the market dynamics and when it's trading, when it hits the market and starts to trade at a premium, that is quite natural for an asset to have a higher, a more inflated value when it hits the market than what's its true value, right? So in other words, if it costs about $1,600 to mine a Bitcoin and a variety of things, and that, you know, not taking that into consideration, but taking into consideration some actual demand factors where we got a very stable Bitcoin around $800 to $1,000. But moving on to if it costs about $1,600 to mine a Bitcoin, then that means miners can profit, um, over that threshold. So if a Bitcoin's at around $3,200, it's quite plausible for miners to get a lot of value, um, over a $3,200 Bitcoin. Now, other factors that go into Bitcoin after that price is what we got in some of our fundamental analysis. The trade wars that are going on with the United States that drove the Dow down, you know, obviously we're able to factor that when the stock market is crashing, cryptocurrencies can generally be sought after as a safe haven, much like gold. So the problem with the trade wars though, if we want to add that as part of some of the driving factors with the price of Bitcoin, which I think is safe to say they were. The problem with that is there's a great deal of pressure on the United States and the Trump administration with these trade wars and the suffering of the American economy to the point that I do think that the Trump administration will have to fold at some point in time. Now the problem with that If the Trump administration folds, then that means, and come to some resolution, then that means that those factors will no longer impact the price of Bitcoin like I believe they've done over the course of the last several days. Moving on from that to some of the other information that came out, which some people believe the institutions getting involved in Bitcoin to be quite, or how I see it is a lot of that data and information has already been included into the market and it was several months ago, you know, what happened with Bitcoin. So as far as these institutions like Fidelity, Starbucks, Microsoft, eBay, which corrected and said it's not that they're accepting Bitcoin, but it's more or less a gift card type thing. Factors we had already been using, you know, things, methods we had already been aware of and using with cryptocurrency up to now. I don't really think that was what drove the price that high. I do think Facebook Coin is impacting some of the market with that as well. And I think their product might be released as early as next month. And so I think those are all some key factors as to what might be affecting this Bitcoin price, right? But in understanding why the price of Bitcoin goes up, you also need to understand the factors of why it goes down. And that's why this type of analysis is so important. And as far as ideas like FUD and a variety of things, yes, FUD does exist and it does impact markets. That is true. People panic sell. Those are true things. But the reality is as well, FUD can, doesn't, in the long term will affect the liquidity of the cryptocurrency markets of Bitcoin and the value there. So, uh, whereas when some people blame FUD, I, you know, I think that, uh, it's very limited to what FUD can do with Bitcoin these days. Uh, so I would say that FUD is a very— I would say FUD at this point in time is a very minimal problem to Bitcoin. You know, in fact, with all the negative news that came out with Bitcoin over the— or cryptocurrency in general— over the last several days or a few weeks, it actually moved in the opposite direction, which means that if it was just a matter of people putting out bad news to cause the price of Bitcoin to go down and cryptocurrencies, then That would be happening all the time and we definitely wouldn't see the market moving in the opposite direction. Um, but with all those things considered and understand those things, then we have a better chance of understanding what's driving the price of Bitcoin up and if we should be buying and why we should be buying and where we should be buying. Um, cooking a little food, so periodically have to stop the video, but you probably won't even notice I was gone. But anyway, you You see that little pause thing in the corner, just that's what's happening with that after clicking while I'm doing videos. But anyway, getting back to that, but those factors are very important to, you know, what's driving the price of Bitcoin up and what's driving the price of Bitcoin down. Now the issue or what I see as a severe problem in the Bitcoin markets Uh, is some believe, uh, one of the factors as well, uh, for the decline in price of Bitcoin was that there may have been a syndicate or some type of conglomerate or maybe even an individual whale who caused the price of Bitcoin to fall from, um, all the way down to $6,200 on some exchanges, about 20% loss. Now that's a huge problem. If one— if one well anytime they want can cause the price of Bitcoin to fall 20%, we see that we're in a serious problem here. Now I don't know if that was true, but some people believe it was because they believe it— it seems so coordinated, I guess, uh, that it probably was from one group or something to that effect. In any event, uh, there was— that's really bad. It shows the lack of liquidity in the, in the markets, right? And, uh, what— and the only way to solve that issue, right, the liquidity issue, is find out where the support levels of Bitcoin are at their best. A lot of people again think $3,200 is very ridiculous. They don't believe we're going back to $3,200, and they may actually be correct. The only thing I'm trying to impart in this video is that when you can move a market that quick, that fast, about 20%, and if it's true, it's one person, then that ought to be a signal to investors that those markets can't hold. These are paper tigers, right? Paper tigers. These are paper-thin walls, you know, meaning it can't hold. So that means if those support levels can't hold there, then, you know, there is not going to be much security in market price Bitcoin on the incline. Rising up in value that way, especially abruptly the way it is, probably would be a great deal better if it gradually would increase in value instead of these huge movements and huge fallbacks like what we're getting. Of course, the, the support came back up to support that. Dropped about close to $2,000 and the price of Bitcoin went up about another $1,000 as we can see here. So it was down close to 20%. Now it's down about 9% at the time of this video. But even so, again, the fact that it can move like that is very, very problematic. So I want to move on from that and, um, and kind of relate it to the next topic, which is, uh, the HEX coin by Richard Heart. So a lot of people who watch the channel know I've been anticipating this cryptocurrency, and I found that it does create the demand that I think is going to be necessary in the cryptocurrency markets. And it makes a great deal of sense in many ways when addressing that. And so this is Richard Heart's project. And as you can see here, it says it's the first high-interest blockchain certificate of deposit. So thinking about the concept of something like Bitcoin, and of course here it says free for Bitcoin holders, you know, so thinking about the idea of Bitcoin in the concept of, um, the— this programmable money, uh, it— you know, you move on from that to Hexcoin, right? Because if you have programmable money, what's the next, uh, progression to that? Programmable interest. And that's what Hexcoin is on the decentral— in a decentralized manner. Uh, you're able to gain interest, right? Programmable money and programmable interest. Interesting enough, I did a video, uh, the other day about Kevin O'Leary. Kevin O'Leary stars on a, a big, uh, national television show called Shark Tank where people come in, inventors, uh, um, people who create new products and businesses seeking venture capital. And Kevin O'Leary has just slammed Bitcoin and cryptocurrency markets very harshly. And, you know, kind of came as a surprise to me. I thought maybe he would see some value in Bitcoin. Many times venture capitalist firms are going to be interested in cryptocurrency to a great degree, not all, because, you know, of course there's legal parameters about, you know, having, you know, managing other people's money in his private equity firms. And so of course cryptocurrencies, you know, give over many legal issues in that. Excuse me. But yet still, excuse me, venture capitalists still at the end of the day are all about returns on investments and making money. It's not an emotional business for them. To the point where they're just going to go, well, you know, it'd be best for me not to make money and not invest in cryptocurrency because I just don't like it. So because I don't like it, I'm going to make an emotional decision not to buy it, right? No, that's not what— that's not how it works. I know that's been kind of narrative that's been going around quite a bit, but that's not really how it works. My best guess is somebody like Kevin O'Leary is equating what's happening with cryptocurrency to something like the tulip markets in the Netherlands around the 1600s where it was this, you know, this fiasco with collecting tulips and it was this huge market crash. And that's a very interesting, if you haven't studied about the tulip markets, right? And crashes, it's very interesting. I know we generally hear about it, you know, in passing. But when you really get into the details of how they went about driving this market and what they had to go through with these tulips and how it works, very quite interesting. But anyway, interesting enough, Kevin O'Leary was speaking about how cryptocurrency has no interest in a variety of things like that. Well, he didn't know about Hexcoin, and I think Hexcoin would make a great deal more sense to him than a lot of other cryptocurrencies. Because that's what HEDSCoin is. Now, uh, HEDSCoin found a bug in it, and I'm glad they reported it, and I'm glad that they're transparent about that and working on that. Um, and but when it does come out, I think that, um, you know, it's gonna— it's at least for me, as far as I can ascertain, I think it deals with the demand in cryptocurrency. I think Bitcoin at its price right now leaves something to be desired. About, uh, being able to support the levels it's at. But that's just me, that's just my opinion, you know. You have to, um, do your own research. And, and that's the thing about it, uh, in understanding cryptocurrency and understand the value of, of cryptocurrencies going up, try to understand as well what would make it go down, you know. So, you know, so if you can tell a good story about why you should it should go up. And is— you can even look at yourself and see if you're using it, and, and would you use it in place of some of the, the monetary systems you're using now, you know, or would you forego using it for convenience of some of the monetary markets you're involved in right now? So if you can, if you can honestly answer some of those questions, then I think you can kind of pretty much get a better idea of, you know, what the value of Bitcoin is going to be, how it's going to go up, and in a variety of things. And, uh, you know, also keeping very much in mind that, uh, you know, like I say in many videos, we're very much in agreement with blockchain technology being the future, right? Where we part ways, I think, is when we say, and thus it represents this particular coin. Uh, and, uh, I, I think there's a vast difference between saying blockchain technology And some people say, well, you gotta be talking about Bitcoin because Bitcoin is the dominant one. Yes, it may be the dominant one, but there are other uses for blockchain technology such as decentralization of artificial intelligence, which Singularity.NET does and is not part of Bitcoin. So those are some key ideas you need to ask yourself about this. Keeping all that in consideration, moving on to my project BitcoinMYK.com. And again, guys, I don't just talk about it because I just think it's a great idea to make myself rich. I've done some research and analysis on BitcoinMYK and it just makes sense from, um, from a fundamental, uh, area, right? Just like Bitcoin, or rather Hexcoin, does because of the idea of the first high-interest blockchain certificate of deposit, right? Which creates demand because if you got programmable money, people want, you know, interest. Obviously that makes a lot of sense. So why do I talk about BitcoinNYK.com? Well, interesting enough, Bitcoin NYK, where it fits in all of this and why I think it's some things to consider, uh, from a very serious perspective. Where it says here with the Hex coin Free for Bitcoin holders. There are some very much similarities to Bitcoin MYK and what Hescoin is doing with that. And the reason it's free for Bitcoin holders, if you really think about it, right, a lot of cryptocurrency value has went into Bitcoin, right? And Bitcoin dominates the cryptocurrency market with the remainder going into altcoins, right? Excuse me, and that value makes up the cryptocurrency market. Now the problem is, as you move money out of Bitcoin, um, the altcoins will at points in time usurp the value from Bitcoin and vice versa. The problem with me myself coming in, having you purchase Bitcoin MYK or maybe something like Hexcoin— I can't speak for Hexcoin, but I'm, I'm just kind of making an assumption here based on maybe what I think would be a good idea about it. But instead of usurping that value, right, in a sense, what's happening is it makes more sense then that I don't have to liquidate my Bitcoin to buy some other altcoin, right? And I think that gives advantages obviously to the Bitcoin holders as well. And Bitcoin 401(k) does a similar thing. Now the next part I would say, um, about Bitcoin MYK. I would say that then if— excuse me— if you take a project like Heshcoin, if it's the programmable interest to the programmable money, then something like Bitcoin MYK would be the social interaction and network to the cryptocurrency market. So the thing is, there are great projects like the Steem blockchain, Steemit.com, that has become the greatest social network there is, right? But, and it, it, it has some similarities. In fact, um, in studying some of the history of Steem blockchain and Steemit.com in particular, uh, a lot of the, as understand that the development of it came over from Bitcoin to the point where some people even say it's kind of Bitcoin, right? It is Bitcoin. It's like the social media Bitcoin. Because if you think about it, the reason you need social media is because social media is part of the network itself. It's part of us being able to interact within the network. And this is why I believe Bitcoin over the last decade only has 50 million confirmed wallets, uh, and some people estimate it's only about really 4 million Bitcoin users in period, uh, because of course many of the wallets are duplicates. I probably have several Bitcoin wallets myself. So this is all very important because what it's saying then is that if we have these great concepts in cryptocurrency, whereas you have something like Bitcoin, which is a programmable money And then you have something like Hescoin, which is the programmable interest. Then you have something like, uh, um, BitcoinNYK, which is the network for crypto because the social interaction, right, for Bitcoin. Um, and, um, sites like Steam, the Steam blockchain, uh, uh, are, are part of that. But this, the Steam ecosystem, whereas I think it's a great ecosystem, it works great, we're actually a Steam-based token as well, uh, similar to what you get with ERC-20 tokens. So, uh, Steam, Steam makes sense. The Steemit blockchain with the Steemit application makes a great deal of sense right now. The, the Steam blockchain can host many varieties of this social network interaction, but that blockchain has done it the best thus far. And that's, and that's why this is so important to the, to the conversation. Now the only difference is I would make with BitcoinNYK in this complete integration is whereas where you get something like with, uh, um, Hex coin where they, um, um, they, they actually give the Hex coins free to Bitcoin users, holders rather. BitcoinNYK does the same thing. It, it gives the BitcoinNYK tokens free to Bitcoin holders. So as far as Bitcoin is concerned, right? BitcoinNYK, we feel is a version of Bitcoin that actually facilitates the social interaction part of it. And how important is that? It's very important. It's very important because if you don't have a social network engagement specifically for something like Bitcoin on the Bitcoin blockchain, then it makes it very difficult for people to really identify with it, right? It makes it hard to identify with it, uh, and because of that, it's going to cause Bitcoin to suffer and it's going to cause the demand to suffer, right? And so that's why this is also key and this is also very important, guys. Um, so, uh, going into the arbitrage situation with BitcoinMYK .com right now. We're trading as well on Freedom Exchange, we're trading on the Steam Engine Market, and we trade on Waves. Now what we've noticed is that there's a slight arbitrage situation forming on the Freedom Exchange. Um, we believe that the token's, um, about 3.5 cents, I think, right now over on the Freedom Exchange. It's about 2.5 cents on, uh, the Steam Engine Marketplace at this point in time. So there is some opportunity. Generally, these things start to correct, they start to come closer to together. But, uh, that's what we have happening right now with BitcoinNYK.com. Uh, so if you're a Bitcoin holder, uh, another thing I say real quick about BitcoinNYK.com, whereas it gets difficult with Bitcoin to gauge the value— excuse me— of Bitcoin because of the whales coming in, they can cause the market to go down 20%, go up 20%, and a variety of things like that. So again, we're dealing with these paper tigers, these paper walls. With BitcoinNYK.com, because it's a network, what is the value based on? It's based on the users of the network, right? It has an interface that's similar to Facebook's interface. So where do you— where are you going to get something like Facebook Coin with this large network to move that value back and forth? BitcoinNYK has that structure in place and it's free to Bitcoin holders. So you don't have to liquidate your Bitcoin and get an altcoin. right? And, and get rid of that Bitcoin value, you get BitcoinNYK tokens free, and you can move them across several blockchains because it's a universal bridge cryptocurrency, right? And so we'll leave some links in the description, um, for you guys interested in that, especially you Bitcoin holders, because this is very important, very radical, very revolutionary what we're talking about. Bitcoinnyk.com, you have to take a moment and let it sink in and understand what it really is. Um, but that's what's going on, and So that's our thoughts on what's been happening with the Bitcoin price and a variety of things. I'm going to go eat now, guys, because I've been cooking and doing this video at the same time. But feel free to contact us to get more information about BitcoinNYK.com. We'll also leave a link in the description for Hexcoin. That's going to be coming out. You can join our affiliate, affiliate link there and earn some BitcoinNYK for doing it. And it's just some great projects coming out that are going to change crypto, are going to revolutionize crypto. Think tanks like Richard Heart, great think tanks in the BitcoinNYK.com project that really know how to address cryptocurrency issues. So you don't have to deal with the paper tigers, the paper walls, because the value is, is based on the network and the people using it and the people in the network. It is not based on the price of the markets in the cryptocurrency market. It is based on your activity under the proof of participation model. But that's all I want to say in this video, guys. If you like content like this, Don't forget to like, subscribe, and until next time, take care.