China Warns Bitcoin ‘Heading to Zero’ 😳

China has warned that Bitcoin will be heading to zero. Now, the Chinese state media, they run a state media newspaper, The Economic Daily, um, is justifying, trying to justify, has justified China's ban on Bitcoin by using recent examples of supposed stablecoins that went to zero. Um, TerraUSD, Luna, uh, are two examples of supposed stablecoins that weren't that stable that went to zero. So my question to you is, do you think that Bitcoin will go to zero? Warren Buffett thinks Bitcoin will go to zero. Peter Schiff thinks Bitcoin will go to zero. Then there are, of course, many people, crypto evangelists um, I guess freedom fighters, people who are fans of decentralization, people who aren't fans of soft weak money and fiat currency. These people tend to think that Bitcoin's going to go back up beyond its peak of $68,000 to $250,000 to $500,000 in just a few years. So I would love your thoughts on what you think is going to happen to Bitcoin, uh, and whether you think it will go to zero or you think it's going to the moon. Now, um, this is quite interesting, I think. Let me know what you think about this. So the Chinese state-run newspaper Economic Daily, um, has said that the price of Bitcoin is heading to zero. I, uh, it wasn't that long ago that Bitcoin peaked at $68,000. I think it was November last year, uh, and now it's down at less than one-third of that, $21,000. The whole crypto market cap has gone from $3 trillion to under $1 trillion. Now check this out, um, China says that Bitcoin is nothing more than a string of digital codes and its returns mainly come from buying low and selling high. Bill Gates recently said that many NFTs and cryptos are the greater fool theory. The greater fool theory is, um, where a fool will pay more than you for the current crypto asset you have, and then as soon as there is the greatest fool and there is no greater fool, then the price falls off a cliff. So it relies on a greater fool to pay more. That's what Bill Gates said about many cryptos and NFTs, and this is exactly essentially what, um, China has said about Bitcoin. Bitcoin is nothing more than a string of digital codes, and its returns mainly come from buying low and selling high. So what are your thoughts on this, by the way? Here's something else that's been said which I find interesting. Of course, China banned Bitcoin, so China have an ulterior motive to take this stance. In the future— so quote, um, from, uh, Chinese state-run newspaper Economic Daily— in the future, once investors' confidence collapses or when sovereign countries declare Bitcoin illegal, it will return to its original value, which is utterly worthless. So what do you think? Do you think Bitcoin is worthless? Um, Johnny here said no to Bitcoin from day one. Why was that, Johnny? Now here's the thing, and I think we have to discuss this point. What utility does Bitcoin have? Like, what is it as a useful, um, piece of production or value or service? And this is why a lot of the old schoolers like Warren Buffett and Bill Gates and China are saying that it's going to go to zero is because it's worth nothing, because it does nothing, because it is nothing. This is their issue. A lot of other people will say, well, it's a better store of value than gold or fiat currency, so it's essentially at the moment a savings account. So it does have value because we all need a savings account. Um, let me know what you think. Kevin said here it's a pointless operation. So I'd love your thoughts. So, um, China's pretty sure that Bitcoin is heading to zero, but China banned Bitcoin. Um, I, I think we'd probably all agree that China is the opposite of wanting freedom and decentralization. So, um, yeah, Sorrento said there that Bitcoin is energy hungry. Indeed. So I would love your thoughts. Now here's the thing, I think there's going to be great opportunity in digital assets. Bitcoin is a digital asset. Many cryptos are a digital asset. But there's many more digital assets. Do you know there's your personal brand is a digital asset? This, um, video here is a digital asset. Your YouTube and your podcast that gets sponsors and advertisers are a digital asset. Your blogs that have sponsors and advertisers are digital assets. I've written 16 books. They're all sold on Amazon and everywhere else you can buy books. They're digital assets. They were converted onto Audible in audio. They're digital assets. So digital assets don't just have to be these really volatile crypto coins. Um, they could— your, you, your own brand could be a digital asset. You could even have your own creator coin. So this is something to think about, the, um, phenomenon of the digital asset and how much opportunity I believe the digital asset brings. So if you'd like to build your own digital assets, that could be information into income, content into cash flow, it could be building a personal brand, it could be building your presence online, I recommend you go and join right now rob.team. So rob.team is for creators, entrepreneurs, people who want to start a side hustle, create multiple streams of income, and they want to start their own business They want to be in control and gain financial freedom and not be controlled and reliant on the system. They want to get their taxes down and their income up. So if that's you, if you can say yes to any of that, go open a new window right now and type in rob.team. Just quickly do it. Open a new page, type in rob team. Go and join for the cost of a large coffee. You can cancel anytime. You can get hundreds of hours of content, digitally downloadable, instantly accessible, and the cost of a large coffee, and no, um, contract. So would you like to start and scale a business, get better financial education and knowledge, create multiple streams of income and digital assets which are quicker, easier, and cheaper to set up? Because Bitcoin essentially is a digital asset, but it's not the only digital asset. And I think you need to build digital assets, but be careful not to just, you know, get lured by all these shiny cryptocurrencies. So a lot of you making some comments, I'm going to address some of them now. Sorento has said it will be the future, but it's not going to happen at this moment in time. I mean, Bitcoin's done well so far, it's still a very young whatever you'd call it. Would you call it an asset class? Um, it was supposed to be, I suppose, a currency to rival the dollar. It's really being used more as a store of value. Um, I think it's a really good store of energy and value. I do, in many ways. There's instant transactions, fairly very fixed price, um, you know, no storage or insurance or travel or security costs that you have with gold and silver and other things like that. Um, yeah, Michelle has said here China keeps banning it for the last few years. It's funny because, you know, sometimes when some regimes or states or people try and ban or cancel others, it actually makes them bigger. Do you remember when Joe Rogan— they tried to cancel Joe Rogan and he just got bigger? And I wonder if Bitcoin will just get bigger the more states like China try to ban it because it is wholly independent, wholly decentralized. It's one of the few that are. A lot of people say, oh yeah, cryptocurrencies are decentralized. No, most of them aren't. If the platform or the owner or the company goes under, so do all your coins, your coins you thought you had. So you've got to be careful when a lot of these cryptocurrencies, you think they're decentralized but they're not. Um, it is really early days though for crypto because it's really early days for the internet. Fast forward 10, 20, 50 years, where could this all be? Really very interesting. Dana said, what's my views on silver? Well, I like gold because it's easier to store, because you can buy less of it for the same value. Um, I like— if I buy precious metals, I like them to be physical. I think that's the point. I don't see any point in buying them and having them, uh, stored online. I think, you know, I'm not into e-gold and anything like that. Gold is a hedge against a debasing currency. And let's be honest, um, currency is debasing hard with inflation and quantitative easing. And that's why, you know, gold's a good hedge against that. It's a good hedge against, um, you know, a revolution or, or anarchy. And it is a good store of value. It's not the best, but it's really good. Um, it's universally tradable and recognizable. I prefer gold to silver, of course. The prices of gold and silver are going to move at different times. And so some are going to argue that silver's better, but I like storing it. So, you know, Krugerrands and bullions are far easier to store. Um, let's have a look what we've got here. Drummer Chris has said store of value is false. Anything can be a store of value. The best crypto will have utility. So, um, anything could be a store of value, Chris, but it doesn't make it a good store of value. You could have some meat that you, you bought a load of meat, in 2 weeks that has degraded and your money's gone to zero. So meat is a terrible store of value. Um, gold is a good store of value, but it can be stolen and it needs insurance, and there's transaction costs and security and movement costs, etc. But, um, Bitcoin actually is a very frictionless, um, store of value and a very high store of energy. The best crypto will have utility. Yeah, I think so. As well, Chris. I do agree that, um, crypto's still trying to find its feet on utility because, you know, property has utility, uh, and coins now have utility. And in this digital world, still very new to figure out where's the utility here. This is why, by the way, I love the thought of, um, you learning more about digital assets and really understanding where you can create utility. And one of the things I think has great utility is information, because you're watching this live and it's useful to you because you learn something, you engage in a community, or we discuss and reach each other in different parts of the world. So information has great utility and it's a digital asset. You know, your content into cash flow, your information into income, your personal brand, your social media, your YouTube, your LinkedIn, if that's— if you're more commercial or corporate, your podcast, your online course, your membership site. So if you don't have any of these, this is why you need to join Rob.team, because Rob.team can teach you to build your membership site, teach you to start your podcast, your YouTube channel, build a personal brand. And actually, this is a digital asset because it's all just stored online on the internet. You know, it's just a What was it China said? China said Bitcoin is a string of digital code. This line is a string of ones and— sorry, this live is a string of ones and noughts. It's just, it's the same, it's just digital code. But information into income, content into cash flow, one of the best digital assets. So if you go and open a new page right now on the internet, a new window, and type in rob.team, come and join the revolution. Come and join Rob.team. It's one-third of the price of Netflix, but you'll learn, earn to invest, to earn, to earn to create multiple streams of recurring income. 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It's for this new mover of person who wants to be financially free and in control and wants to pay less tax and wants to be less controlled by the system. So I'll see you in Rob.team. Now, uh, just a quick summary. China has said that Bitcoin is heading to zero. What do you think in the comments? Is Bitcoin heading to zero? Is China right, or does China have ulterior motives to say that because they banned, um, Bitcoin? Um, they're— China and the, um, state media-owned newspaper The Economic Daily, um, is referencing TerraUSD and Luna, whose values went to zero. Plenty of so-called stablecoins have gone to zero. So let me just quote you what they said, and then you can tell me your thoughts. Bitcoin is nothing more than a string of digital codes, and its returns mainly come from buying low and selling high. Warren Buffett thinks it's going to zero, wouldn't buy all of Bitcoin for $25. Bill Gates thinks most of cryptos rely on greater fool theory, where you need a greater fool to pay more, and in the end there's no greater fool, and then it falls off a cliff. Cliff. China has gone on to say, in the future, once investors' confidence collapses or when sovereign countries declare Bitcoin illegal, it will return to its original value, which is utterly useless. Let me know what you think in the comments. This is really interesting discussion point. Bitcoin and other cryptos are going through a very interesting time, very volatile. Markets have crashed, or is that an opportunity? Do you think it's near the floor and the price is going to bounce back, or do you think it's a lot more to go? I'd love your thoughts. What do you think on the future of Bitcoin and cryptocurrencies? And will there be more mainstream mass adoption of Bitcoin, or will many other states go like China and ban it? I would love your thoughts. And remember, if you want to create multiple streams of recurring income, build digital assets quicker, easier, and cheaper than ever before, for. If you want to control your life, have financial freedom, then go and join rob.team. It is one-third the cost of Netflix. You can cancel anytime. It costs just a large coffee. And there's masterclasses virtually every week. How to automate your sales and marketing masterclass, 21 ways to monetize social media masterclass, how to start and scale your business masterclass, content creation masterclass, I'm doing a Start Your Business Challenge. I'm doing a podcast, an audio creator challenge. I'm doing a Make Cash Challenge. All of this in Rob.team for just the cost of a large coffee, and you can cancel anytime. Super quick and easy to join. Just open up a new page, a new window right now, and type in R-O-B .com. I'll see you in the members area with 5,000 other creators and entrepreneurs and disruptors and movers and shakers and changemakers just like you. Thanks for tuning in. Let me know all your thoughts. China says Bitcoin is going to zero. Warren Buffett says Bitcoin is going to zero. The crypto evangelists reckon it's going to $250,000 a coin, $500,000 a coin, and to the moon. What are your thoughts? And remember, if you don't risk anything, you risk everything.