Analysis

Why Not Listen to Somebody Who Knows What They are Talking About?

There are lots of people on the Internet who love to talk about bitcoin. To be blunt, I don’t find many worth my time.

Commentators who dump on bitcoin for five minutes and then admit they have never owned it: They remind me of my kids when they used to announce that dinner sucked without even taking the first bite.

So when this Youtube video was recommended to me, I thought I would watch it for two or three minutes and then click away.

I don’t really have a long attention span for videos nowadays. I guess it’s old age.

But I did watch the whole video, all 53 minutes of it:

Bobby Lee really, really knows his stuff. He founded the FIRST bitcoin exchange in China, way back in 2010 (BTCC)!

His exchange was also the first to be shut down by the Chinese authorities back in 2017, so he is one of the most knowledgeable guys to ask about what is really happening in China.

Things Discussed

How China authorities regulates crypto (it’s complicated).

Double-tops during bitcoin bull markets (he thinks the current 50% correction is completely normal and reminds him of 2013).

How when you buy bitcoin, you are almost always underwater at some point.

Why most Bitcoin hardware wallets are terrible.

If you have some time this weekend…

https://www.youtube.com/watch?v=Qd6dOpRNHVo

DJ

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