Why Crypto Will Fail (Response Video) To (Response Video)

Hey you, welcome back to the channel. And guys, I hope you're having a great weekend. I just came in from chopping some wood. I like to get the axe, cut down some trees, get some nice firewood. Came in tired, but a good kind of tired, ready to relax and start looking at some YouTube videos. Um, you know, some, some of us people who make YouTube videos, we actually watch other YouTube videos too. And this happened to be in my, my suggestion box. Now this, um, gentleman that, um, is on my screen, he goes by the, uh, YouTube personality name of The Kung Fu Nerd. And, uh, I've, I've seen him in my, um, my suggested thread a few times and I just hadn't really got around to watching him. But I can tell that, you know, from the title he had something special going on there. And, uh, I have— I did get a chance to watch one of his videos tonight, and I was very pleasantly surprised by, um, what I, what I heard in his video. Now the title doesn't sound that great, it's called Why Crypto Will Fail, and, uh, right, and to make things worse, it's, uh, on my end, it's a response video to his response video. That's something, remember back in the day with YouTube that many of us hated, all these response videos, the response videos. So I promise guys, I'll never do that again. But I was pleasantly surprised with some of the things he said in this video about the state of cryptocurrency. And I really think you all should watch it. I'm gonna leave a link in the description. And I think many of his points of, excuse me, many of his points of view are very close to mine in the state of cryptocurrency. But I just wanna play a little bit of what he had to say about, uh, some things that are going on in cryptocurrency right now and just respond to that a little bit.

So, uh, Erwashi says bet on Bitcoin only or live to regret it. I think this is something that I've talked about before in the past about how I was reluctant to support Bitcoin, uh, exclusively for a minute because I recognized there was a problem with the transaction costs and a problem with how they basically are scaling. And I saw someone else talk about Lightning Network on here for a minute, and I, I must say Lightning Network is a, uh, off— it's a second— it's an off-chain scaling solution that doesn't seem to be very effective. I don't think it's going to be used, um, or work. But I do think the ILP paired with coins like XRP are going to become basically a lifeboat to Bitcoin. So Bitcoin will become usable again when it's paired to these global open protocol networks, because you can spend other currencies that are more efficient than Bitcoin is as far as transaction costs or efficiency of microtransactions. Now again, that's something that could save Bitcoin, and it's also something that can bring validity to the entire network. It's also a reason why I really do like those coins that have the economic sustainability moving forward to provide cost efficiency and energy efficiency. Inside microtransactions for machine-to-machine payments. So cheers. I will say yes, Bitcoin will probably be saved and likely is a good, a good move, um, as long as they work together with open protocol networks that provide liquidity and scalability to them. Sarasota.

So, um, I'm gonna stop it right there, guys, but yes, I agree 100% with that. Now Kung Fu Nerd, he seems very pro-Ripple, and I think many of the solutions he's proposing can work with Bitcoin. You know, uh, the problem with Bitcoin of course is it has the scalability problems, the transaction costs, and the speed of the network like he mentioned. And, uh, so Bitcoin Lightning Network was supposed to be the solution, but it has many problems with it. Problems from the payment channels to how you have to put your Bitcoin over the networks first, and just some problems with it overall. People aren't using it as much as they would like. And so I agree with him 100% on that, but I just want to add that Bitcoin, my personal opinion, is the best bet in the cryptocurrency space right now. And, uh, it doesn't matter what altcoin you're in. If Bitcoin goes down, that altcoin's going down with it. If it goes up, it's going to go up, and it's going to live or die with Bitcoin pretty much. That's just the facts of what we've seen with this technology over the last 10 years. And so the only thing that doesn't get mentioned in this is of course our project, Bitcoin Wave Network, that we believe is a solution to Bitcoin. And I'd like to make that known. I think I did leave a comment on his video that he should really look into the Bitcoin Wave Network. It allows you to keep your Bitcoin stored in your wallet and, uh, you're able to transact and move the value of your Bitcoin, the represented value across the network, right? And it's almost like Bitcoin is gold sitting in your wallet in a vault someplace and the ledgers are compared and we're able to know your, your ledger balance. We use something called the LDR equation, which stands for ledger accounting balance, and we can compare these ledgers on these two blockchains. Um, and so it's a very interesting project, but I just wanted to put that in there, that there are options to, um, the, uh, problem with Bitcoin. But I do think Bitcoin is going to be the answer over all the coins going forward. And just a great channel. I'm definitely subscribing to it. He also, you know, talks about how doing a video titled like this, which I can kind of identify with because I do kind of videos that aren't always so positive about cryptocurrency, and for me it's just coming from a position of responsibility. Uh, you know, the reality is a lot of people just want to hear, uh, no negative news at all. They just want to hear all positive, all good things, just, you know, uh, just everything is going to moon. And as, um, um, Kung Fu Nerd here mentioned, uh, that they kind of view through these, uh, rose-colored glasses, right? And some people just don't like anything negative. They distance themselves from it as soon as they hear it. But it's not just about it being negative. It's about there being a, uh, a responsibility to understand that if there is a, uh, uh, a, uh, disaster ready to happen right around the corner, that you should be aware of it and prepare for it, right? So that's part of responsibility, and it's part of protecting yourself, right? It's not about being negative and things like that. But I enjoyed the video. I definitely encourage you guys watch it. He makes some interesting points about, you know, people in the cryptocurrency space in some cases that only deliver good news, right? And they don't give us that responsible news of what can happen, you know, to us as well as giving us the good news, right? And so I just thought, I just thought it was an important video to make, guys. I want to speak with you all anyway this weekend, and I hope Kung Fu Nerd doesn't mind me using some of his footage. And I hope he checks out the Bitcoin Wave Network to see how he likes that and how he feels about that. I know he's pro-Ripple, as many of us are, and maybe a system can implement Ripple in some way, XRP tokens, and And that can be a solution as well. But anyway, guys, that's all I want to say in this video. If you all like content like this, don't forget to like, subscribe, and until next time, take care.