Bitcoin (BTC) Has Six Advantages Over Gold, the $7 Trillion Asset, says crypto giant #Coinbase


[Music] hello folks you have reached the cryptocurrency portal and today we’re going to go over a little information about Bitcoin and especially in light of what coinbase says about Bitcoin in general that they have six advantages over this six trillion dollar asset and what could that asset be it’s obviously gold so let’s go through it together it says as the total market cap of gold currently stands above 7 trillion dollars which is approximately you know based on the latest prices about 38 times that of Bitcoin crypto trading giant coin basis says BTC can become a viable store of value in the digital age an alternative to gold according to a recent blog post coinbase argues that the cryptocurrency offers six advantages over the traditional asset gold so let’s go through these together the first bull is the ability to trace transactions on the ledger next book low fees for cross-border transfers next bullet peer-to-peer pseudonymous transactions protecting privacy next bullet portability next bullet divisibility and last bullet of the six is scarcity so let’s talk about some of these Gold’s historic ability to store values due to its scarcity which Bitcoin can replicate through its hard cap of only 21 million units and so far as we all know 18 million already exists and the reality is and you’ve probably seen these types of headlines before is there’s probably far less than 18 million in circulation mostly because unfortunately people over the years when Bitcoin wasn’t getting the headlines yet people had Bitcoin but they passed away and didn’t leave their keys with their heirs and some were probably lost forever inside computers so there is out there a lot that have just been lost so there’s even more scarcity probably than we think ok with the third having event happening in May for Bitcoin and I’ve actually done a video about the halving so if you want to check that out I’m gonna put in the comment section below a link to that video but when that having event happens bitcoins production will drop from twelve point five to six point two five BTC every ten minutes a mapping it’s predictable path towards a finite amount so obviously the the miners are gonna be rewarded less in addition to place in Bitcoin scarcity on par with gold coin base says that having will ensure that miners who power the network remain incentivized to stay online so here’s their quote one might assume that fewer miners would secure the network as the mining rewards successively drop drops after each having however the economy economics a Bitcoin tend to be resilient in self-balancing after two having’s in the past that limited rewards to miners mining power also known as hash rate has recently reached all-time highs or in other words as Bitcoin suppliers edged towards its 21 million limit network security has increased in parallel and Bitcoin is also available to anyone anywhere with an internet connection users can old fractions of a single Bitcoin or multiple units of the crypto at any time unlike gold which requires absorbent fees insurance guarded vehicles to transport and crypto currencies can be sent swiftly and digitally with without any third parties so again coinbase comes up with this analysis I agree with them these are the six bullets again the ability to trace transaction on the ledger low fees for cross-border payments peer-to-peer synonymous transactions protecting privacy portability divisibility and scarcity so continuing on the theme of Bitcoin check this out Bitcoin Depot Network hits 500 kiosk as johnny-light coin shows off coin flip adoption alright so the Bitcoin Depot has rolled out over 500 ATMs in the United States making it one of the biggest crypto ATM networks worldwide the kiosks allow users to create an account and get verified in less than a minute in order to buy a Bitcoin if they’re a man like coin will focus on Bitcoin locally with cash the CEO Brandon min says here’s this quote the expansion of Bitcoin ATMs increases acceptance in use of Bitcoin for financial transactions and make everyday transactions easier for everyone what’s interesting is there are other ATM networks that have added Bitcoin to their kiosks or and what’s interesting is a lot of my friends know that I’m into cryptocurrency and they go hey I saw one of those a Bitcoin kiosk so they see them out there and it’s interesting how it hits there they’re actually just letting me know but the reality is it’s interesting that the average Joe out there is starting to see them out about and they comment on them and speaking of average Joe actually did another video about in order for Bitcoin expansion to be accepted to the average Joe there’s certain factors that need to happen in order for the average Joe to kind of get it so I’ll put that link in the comment section below to that video as well so you can have it we can have discussions about that as well the Atlanta based company powers kiosks from New Jersey to California he says within he says with more than 500 ATMs across 30 states in more than 100 of those right here in our own backyard we are significantly outpacing others in the industry so it’s just helping for more and more adoption Bitcoin ATMs or BT M’s Bitcoin to him instead of automated teller machines as Bitcoin teller machines are among the world’s fastest growing industry because of the rising demand for in-person digital currency transactions with cryptocurrency still in its infancy ATMs serve as billboards that broadcast how easily Bitcoin litecoin and other digital assets can be purchased that’s so true one that people see it they may not be buying any right now but they are billboards for Bitcoin and other digital assets so people walk by they remember that they just think of the next bull market when there’s massive FOMO people are gonna remember these kiosks and they’ll like oh I can go get one there they won’t understand going online going exchanges and putting money in and you know all the all that process you have to go through they’ll probably remember this John more vice-president nationwide merchant solutions shows off a coin flip ATM located a busy bar at Lisbon New Jersey next to Newark Airport he says the foot traffic doesn’t get any better they’re accepting bitcoin and litecoin for payment they’ve got the coin flip ATM it’s here it’s live look at where the ATM is placed at right when you walk by so here is John Moore you can follow him on twitter twitter at johnny that’s in NY so jo in NY litecoin and so he talks about it here so says AI analyst Brian Rome le one of the reasons that Bitcoin having will be more monumental this time is the astonishing growth at Bitcoin ATMs locations history will show that this was a useful meter of how bitcoins acceptance was so rapid so here are the crypto ATM number net changes you can see 2014 that’s obviously sub 100 in probably near ten or so and it slowly grew 2015 dropped here 2016 now 2017 that’s just ramping up ramping up ramping up ramping up obviously there’s a lot of FOMO going on here if you’re missing out because the bull run at the end of 2017 when Bitcoin hit what almost if right 20,000 dollars a coin here it looks like some dropped off and now they’re ramping back up so amazing so that was the latest there what I also want to go over real quick there’s just the Weiss upgrades bitcoins rating I actually have done a video about the Weiss rating process so I’ll link that third video in the comment section below about the Weiss ratings overall so Weiss ratings an independent crypto and financial rating agency has given Bitcoin an a-minus rating again Weiss finally acknowledged bitcoin is a leading crypto project Weiss Rayne has given Bitcoin a – ranking considering it excellent this is not the first time it’s happening though the agency had downgraded BTC but had a change of heart this time why sights improving fundamentals and in positive run up in prices due to the next Bitcoin having due to occur in May of this year as reasons for the improved ranking okay Weiss has been in financial analysis business for only a short time in the crypto sphere but brings almost 50 years of experience in other financial sectors it offers a paid subscription grade the agency offers several crypto index ratings for risk reward tech and adoption they also offer regular reports on market conditions and sentiment so I just wanted to give you that a little update about Weiss their rating Bitcoin again at a – and if you want a deeper analysis on how Weiss comes up with their ratings I again I’ll put that in the comment section below and you can check that out let me know what you think and as always on any crypto project more topic put your comment in the comment section below I’d love to have a discussion in this space and just get the conversation going so thank you so much for tuning the cryptocurrency portal I deeply appreciate it if you like this video please smash that thumbs up 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