hi this is trip well the Bitcoin bubble burst or busted I love that alliteration today's Friday Friday February the 2nd of 2018 it's in the afternoon and Bitcoin Felder's war as low as eighty-five hundred dollars or so eight thousand or something this week the last couple of days bitcoin is a virtual currency that's used for peer-to-peer payments you don't need to know a lot about this most people don't need to and the ones that have been learning about it in the last month or so probably may be regret they had never even heard of Bitcoin because it has been a crash over the last few weeks from the end of December there have been about a trillion dollars that had been lost you know trillion dollars they've been lost in and all that and all the cyber currencies added up the price was as low as about a thousand dollars or so around two thousand thirteen or fourteen even lower than that it got up to a didn't December around twenty thousand dollars and has come down now in the last day or two to like about eight thousand eighty five hundred dollars is a Bitcoin price so they've been other bubbles before like in Japan in the late 80s there are the us

bubbles more recently in 2008 with the housing and the market crash the tulip mania in Holland believe it or not people used to buy tulips and trade them in the price of them got up really high the tulip was worth an entire house it's hard to believe read about that you read about that it's just a plant but it was investing mania and of course you had all crashes that are more frequent with our commodities like oil and silver like silver around 1980 the big firms did really didn't get hurt so much by this Bitcoin collapse because they they stayed out of it which is strange because they can always smell a way to make some money but they always make it up by things like underwriting and providing dubious financially as well as trading fees but the big firm stayed out of it like the banks and the pension funds so there shouldn't be a big effect in the overall economy what's sad is that it's more of the individuals that really got hurt by it and probably more proportionately more millenials Millennials are more into the technology thing then of course older people like us they're more into crypto trading and they were going online in social media and they were and they were talking up to the Bitcoin and you know the kind of cyber currencies so they're all engaging this kind of risky investing behavior there have been also some it's like a perfect storm of bad news recently for the bitcoins there was a Japan exchange a company where there was a token theft of the bitcoins and they had to pay back their customers are they going to pay them back a few hundred million dollars in their losses India's credit down on cyber currency trading more recently they've been other hacks of bitcoins the trading fees have gone up and the transactions of our gotten slower because the more this trading the evidence or suggestions of the price of Bitcoin has been manipulated the record-keeping are the questions about that because it's all on it's all in computers the cyber trading is a Facebook recently banned ads that are ads for cyber currencies because they're trying to get rid of misleading types of information and ads you know fake news a lot of recent famous investors have come out in the last year or two it's calling the the Bitcoin of a and investing mania above all some of these have been like Robert Shapiro Robert Shiller who wrote irrational exuberance the famous economist Warren Buffett one of the world's greatest and wealthiest investors George Soros & nervo Roubini who correctly guessed are called the foresaw the 2007 to a financial crisis ribboning a ribboning sounds like an Italian dish what having for dinner no video of the bean sorry for that investing humor how do you value a Bitcoin well nobody knows you can value you can value stocks according to different gauges like price earnings and prices sales you can value bonds based on us through the present value of a stream of interest payments over time you can pair compare it to expected inflation and other bonds and the credit worthiness of the issuer you can value commodities because we actually use those things or physical like things like gold and corn cotton soybeans and so on but Bitcoin is seems more like a gamble I would say if you want to gamble then you should maybe go to Las Vegas take some money have some fun there and then maybe meet a nice showgirl you know see the town or learn to play poker develop a poker face like me where nobody really knows what you're thinking go bowling bet on that on golf bet on the horses go to the racetrack throw some money away there get some fresh air the thrill of the horses running around that's kind of fun or take five percent of your portfolio of what you want to five percent of the money that you think that you really can lose or do without and bet on Bitcoin or stocks or or futures or pork bellies anything but when you lose it then you don't bid anymore and then you just concentrate on going to work every day buy a home pay a decent price for it and put your money in an index fund a cheap index fund matching the overall market so that's what I think about the about the Bitcoin for what little I know or care about it it's just been a Manion the last couple of last few months I wanted to talk about what happened this week with the crash of it it may go up again next week who knows so anyway this is trip my channel talking use with me hope you'll subscribe and I hope that you're like the subject if you don't like the video comment below about the subject and hope you'll share with other people and bitch a good day