According to this Chinese banker, bitcoin can be an asset, not a currency... because reasons. He said, in an interview, "Bitcoin does not have the fundamental attributes needed to be a currency as it is a string of code generated by complex algorithms...But I do not deny that virtual currencies have technical value and are a type of asset," Microphone: http://amzn.to/2sS24Ol Silver American Eagle coin: http://amzn.to/2r9iwZb Buy stocks with no fees: http://share.robinhood.com/philipm72 Hello all! I'm the naughty investor. I discuss investing in stocks , bitcoin , ethereum , litecoin , real estate and so MUCH MORE. I'm often critical of the Federal Reserve and central banking (.. End the Fed...) and I hate socialism. That's a little about me and this channel. Anyways, be sure to subscribe! *some links may be affiliate ... https://www.youtube.com/watch?v=MhsHNGLIbxs

Microphone: http://amzn.to/2sS24Ol Silver American Eagle coin: http://amzn.to/2r9iwZb Buy stocks with no fees: http://share.robinhood.com/philipm72 ARTICLE EXCERPT: The cryptocurrency industry, market and community are anticipating the “flipenning” or the possibility of Ethereum surpassing the market of Bitcoin. It is approximately $10 bln away from reaching the market of Bitcoin. Before speculating on the possibility of Ethereum becoming the most dominant Blockchain network, it is important to consider whether its recent price rally can be justified. Has Ethereum demonstrated commercial success? Are actual users utilizing Ethereum to access decentralized applications? Or is it a completely speculative investment and not-so-smart money flowing into the market? Objectively, Ethereum’s recent price rally has been mostly speculative. The vast majority of investors in South Korea, the largest Ethereum exchange market, do not have sufficient knowledge of the purpose, structure, technical intricacies and philosophy of the Ethereum network. Most investors can’t seem to differentiate Ethereum from Bitcoin when the two Blockchain networks fundamentally oppose each other in many ways. Charlie Shrem, the COO of Jaxx, wrote: “ETH is rising because new users want to "get rich quick with ICO's". They don't care about the ETH price, and they arent holding. All the supply gets locked by the ICO's in the contract. They won't sell because the price is rising. Demand grows, supply is reduced.” Ethereum’s native token Ether was designed to be used as gas. It isn’t a cryptocurrency or a store of value, unlike other altcoins such as Ethereum Classic that have a fixed supply. Ethereum is based on an inflationary supply to ensure that the network is fueled by Ether, also referred to as gas, within the network. Hence, investors purchasing Ether to utilize it as a currency because it settles much faster than Bitcoin transactions have failed to understand the purpose of Ether. Most investors have purchased Ether due to their overall enthusiasm and optimism toward the network. Very few investors have purchased Ether to participate in ICOs, to use it as a currency or to use it as gas to fuel decentralized applications. What’s up with South Korea? It is difficult to justify that the money flowing into the Ethereum market is not speculative because of major markets such as South Korea. In a recent interview, Vitalik Buterin emphasized that he had no idea why South Korea is the largest Ethereum exchange market. He noted that he is aware of the active Ethereum development community within China led by various consortia, educational institutions and conglomerates. South Korea, in contrast, is simply the largest Ethereum exchange market because people are s ... https://www.youtube.com/watch?v=DDC7UmF08LY