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It's Neil Patel here, and we're here for another Q&A Thursday. I'm here with Adam from https://viewership.com/.
This is from Ont Ology. Neil Patel, What are your thoughts on cryptocurrency?
0:30 You guys are all hearing things like Bitcoin, Ethereum, or Ether, or BTC, Ripple and you're looking at all these cryptocurrencies. Now there's a site called Coin Market Cap that list all of these currencies, the value of them, are they going up, down, what exchanges are selling them. You should check out that website. But here's the thing about cryptocurrencies, and there's so many out there to pick, there's probably well above 1,000. A lot of them are hocus-pocus; they're going to fail, you're going to lose all your money. Yes, people are like, I put in 1,000 dollars, and now I'm worth 1,000,000. Those days are gone, yes, a lot of that happened in 2017. You'll see and notice that 2018 is much slower.
2:00 It's like with anything, if you look at the stock market when it first came about, it was volatile, people would make a ton of money, lose a ton of money. The same thing happens, cryptocurrency, same way. But once the markets get saturated there's way more investors, buyers, I think, and it's not what I think, it's more so the stats. The data shows that things start leveling off, and you don't see as much volatility, which means you won't lose as much, but you won't make as much.
4:00 There are so many use cases for the cryptocurrency, but if you look at basic ways that a lot of people are using it, you can use it as money and transfer it back and forth without dealing with all this bureaucracy in these banks. And it's like, hey you no longer have to wait 20-30 days for your money to go off to people in the boonies in Russia or random places. Why can't it be done quickly? Why do you have to go through banks when it's your own money? And you know what the best part about it, a lot of these cryptocurrencies have a hard cap. So it's like, alright, you know what the maximum number's going to be out there, versus with the US dollar, the government keeps printing and printing and printing more dollars.
I do believe Bitcoin is the gold of the internet. I didn't come up with that. There's a lot of other successful people, and they could be wrong, but I believe Bitcoin is the gold of the internet, and it's here to stay because it has that brand value.
You should start your cryptocurrency. The 'Neil crypto.' What do you guys think? Give us a like if you agree with that.
If you think I should start my own Neil coin, you can leave a comment below.
5:10 Thank you for watching this week's Q&A Thursday video. If you have a question, we're here to answer. Leave a comment below. Either way, I'll respond to your comment, maybe your question will come up in next week's video. In addition to that, if you enjoyed this video, comment, like, share, subscribe to the channel. I appreciate anything you can do to help get the word out.