Tai Zen: What’s up guys. This is Tai Zen. I’m driving through the Atlanta Georgia right now.
In this video, I want to talk about why Bitcoin prices and whole altcoin prices, in general, are skyrocketing.
There are several reasons. The first reason I would say is people feel comfortable now about Bitcoin and cryptocurrencies.
For the last 4.5 years, LeonFu.com, my fellow broadcaster and investor, and I have been preaching and screaming at the top of our lungs about Bitcoins, cryptocurrencies and why people should invest in it. However, they just ignored us.
There was a group of people that said that we were crazy and retarded. They said that we were just too far out there.
Besides, there were people that believed us, but they just didn’t see the value or the importance, so they didn’t get into it.
There was just a very very small number of people who actually did get into it for the last 4.5 years. Those people are extremely happy right now because they have created a tremendous amount of life-changing money because they listened to me and LeonFu.com.There are several people we know that never have to work again for the rest of their life.
Remember there is saying in the Bible that say that the profit is never recognized in his own hometown. If I’m quoting that wrong don’t beat my ass up for it, but you know what I’m talking about.
What it means is if people like Jim Cramer or Warren Buffett who is completely out of our reach say about it, they may believe it. However, when I and Leon tell our friends or family, they think we’re just another bunch of guys talking about investing. Therefore, the group of people thought we were crazy and retarded are not going to be convinced.
The other groups of people believing us but didn’t have the time or didn’t see the importance of it, are now getting into it. They feel much more comfortable when Leon and I show them how much money we get. Now, they believe it and they know we’re not going to bullshit them.
We have co-workers, former co-workers, former colleagues, trading buddies, investing buddies, neighbors friends and all kinds of people investing in it now.
My friends and colleagues have put several hundred thousands of dollars into cryptocurrencies just in the last 6 months. Those people are just the people that Leon and I personally know because we’re the ones helping them.
Those people have profited from it in the last 6 months. They’re very happy with it and they’re telling their friends to do the same thing. That creates a chain reaction.
Now they fell comfortable because we tell all our friends once they make some money, take out their initial investment. They’ve taken it out and converted it to USD. Therefore, they can see that it’s real. Now the message spreads like wildfire.
That’s our goal. The mission of our channel has always been to accelerate the adoption of Bitcoin and cryptocurrencies in society.
Therefore, we’re very happy about it when we see that our friends can retire because they make some life-changing money. We have friends that have been able to buy a car for the first time or buy a house and things like that. That’s life-changing.
This the first opportunity in human history where everyone can participate. I don’t care if you have $1 or $1,000,000. Everyone is eligible to participate in there. There are no barriers to entry.
To sum up, comfort is the first reason why causing the price of Bitcoin and cryptocurrencies to go up.
The second reason that people are getting into cryptocurrencies now and Bitcoin is that it’s no longer scam.
When I say no longer a scam, it doesn’t mean that they’re bullshit cryptocurrency projects out there. What I’m saying is when Leon and I first got into cryptocurrencies back in 2013, as a professional software engineer, he read the Bitcoin white paper right away and he could tell that this was not a scam. He knew the math and the code was correct.
He wasn’t sure how it was going to be on a large scale, but as far as working on a small scale, he did not think that was a scam.
For me, at that time, I poured all my life savings into Bitcoin and I’ll make a separate video about the reason why I did that.
Just know that I put almost every penny that I have into it. Plus, that was a time when I didn’t have a lot of money, but I still poured everything I could into Bitcoin.
When I did that, I was so scared because I thought that it was a bullshit scam. I was hoping that somebody didn’t pull the plug on Bitcoin because I would lose all the life savings that I had bought into it.
Fortunately, it turned out that it was legit. After about 6 months or 1 year, I realized I had no worries about it being a scam anymore. I knew that it was legit. I started making transactions, especially when I bought my first kilo of silver from providencemetals.com.
I realized that this is not a scam when somebody took that currency and gave me a whole kilo of silver.
That’s the second reason.
The next reason why Bitcoin and cryptocurrencies are going up is when people get into Bitcoin and see the value of it in $1800 or whatever, they don’t feel comfortable to put that big amount of money into a bitcoin.
I think I might be being a little biased there because those are all the altcoins I am holding. It’s just on the top of my head. I can’t list them all.
However, those are some of the major ones that people are getting into because it’s human nature to want a whole piece of something instead of a fraction of something. Plus, people don’t understand that Bitcoins is divisible into a hundred million pieces.
If they’ve been in cryptocurrencies for a few months or for a few years, they understand that. That’s when they try to get a Bitcoin on Coinbase and see the price of it, they’d rather get 10 Litecoins or 5 Ethers or something like that, because those are readily available for sale on Coinbase.com.
We have gone through 3 reasons. One is a comfort. Two is more people coming in. Three is it’s not a scam anymore. Now, it’s just the desire of people who want whole numbers.
When they’re buying bitcoins, it increases the value of it. Then, they’re using those Bitcoins to buy the altcoins, which jacks up the price of the altcoins. That’s the reason why the prices are going up.
Back to what I was saying, another reason why Bitcoin and altcoins prices are going up is people are comfortable holding onto the alt points now.
For example, when Leon and I first got into altcoins investing in 2014, we were very hesitated. Back then, we were both diehard Bitcoin maximalist. We just couldn’t see why these other altcoins made a difference.
We didn’t see the value in these other altcoins because, in our mind, we were diehard Bitcoin maximalist, who don’t see the value in any other altcoins. It was amazing that we even invested in NXT at the beginning of 2014.
Nowadays, when people invest in cryptocurrencies, they are very comfortable with the idea of altcoins.
When my friends and colleagues ask me what I think about Ethereum, Litecoins, NXT or anything like that, it is not a big deal.
Recently, we invested in the Shadow Cash rebranding project, where they rebranded themselves into the new project called Particl so that they can take it mainstream and be legal.
We have no fear of telling our friends and colleagues to invest in it because we don’t see it as a risk like when we invest it into altcoin back in 2014.
For all these reasons, the price of bitcoin shoots up.
There are a lot of us that don’t need to move money from the altcoins back into Bitcoins anymore. Whereas, people would do that in 2014 and 2015.
I mean Coinbase is now accepted trading in Litecoin and Ethereum, that lets us know that eventually, they’re going to be the same thing as Poloniex or any of those.
Those are all the reasons why Bitcoin and Altcoins are going up. One is a comfort. Two is it’s not a scam anymore and more people are getting into it. The other one is the comfort in the altcoins.
Altcoins are acceptable. It’s not a big deal anymore. The days where the market is full of bitcoin maximalist are slowly diminishing.
The bitcoin maximalist are a dying breed now because there’s so much money to be made that even people who are used to be diehard Bitcoin maximalists like me and Leon have a switch of view and adapt to the new market conditions to become a cryptocurrency maximalist now. We’re fans of cryptos. We’re not just fans of Bitcoins anymore.
The last reason I would say that’s causing the price of bitcoin and Altcoins to shoot up. Is there is nothing that convinces people more than the fact that you actually make money?
In the winter of 2016 and summer of 2017, people are making money in the minute they get into cryptocurrency. We are in the biggest bull market in human history with the cryptocurrencies. Everybody that’s participating is making money. Even the people that are jumping in late still make up to 50% profit.
Because of that, there’s nothing you can convince these people who just make some money that this is not real. It’s as real as it could be.
All my friends are getting into it. They’re getting in late and they’re still making more money from cryptos. The profits are still higher in cryptos than they are in the traditional stocks, forex futures, and options markets.
I just want to share this video with you to explain some of the reasons I personally see why Bitcoins and altcoins are shooting up.
If you like these types of videos, make sure that you go to www.cryptocryptocurrency.market/newsletter and sign up for our newsletter.
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Thanks for watching this channel and I’ll see you guys in the future video.