For years I have been talking publicly about the capital markets, debt markets, gold, silver, crude oil, etc., I have also addressed cryptocurrency on my YouTube blog several times, and in doing so I have built a loyal following of many tens of thousands from all over the world.
I would like to use this blog as a platform to elaborate on how I actually feel about cryptocurrency, as there are many who have some distorted perspectives on my actual views.
I believe that most of the confusion that people have with regard to my personal feelings about cryptocurrency is this. When Bitcoin first hit $1200, I had publicly told people to dump it. Soon after I made that comment, Bitcoin took a plunge but did soon recover. When I told people to "dump Bitcoin," I was looking at Bitcoin as a trade, and my call as a trade (not an investment) was correct. Many people believe that when I was publicly telling people to dump Bitcoin, that that meant that I did not like it, but this is simply not the case.
As we know, Bitcoin was the first decentralized cryptocurrency coming out in 2009, and since that time we have seen many other cryptocurrencies also become a popular alternative to fiat currency, Steem being one of them. I firmly believe this trend to cryptocurrency is not only going to continue, but get much, much bigger.
So to clear up any confusion with regard to my feelings on cryptocurrency as a whole, I fully believe and support them. I frankly do not support or believe in the sustained value of any current fiat currency, and this includes the US dollar.
All fiat currencies are unbacked liabilities being disbursed by bankrupt governments.
What we must all understand is every fiat currency is nothing more than a debt instrument, and as most of you know who follow my work, I hate debt instruments. We also understand that we are now existing in the largest bubble the world has ever seen, this is the current debt bubble. I firmly believe that people need to diversify out of all fiat currencies as world central banks have no alternative but to continue to inflate and inflate and inflate the current global debt bubble even larger than it currently is. What the general public does not understand is simply this: the current debt bubble is not sustainable, and at one point, "the point of total debt saturation," we are going to face a moment when this debt bubble bursts. When the debt bubble does burst, at that point of total saturation, will have a global, devastating debt crisis, a fiat currency crisis in fact, which will leave those who are holding it desperate and destitute.
So in summary, I do believe in cryptocurrency. I also believe in any asset that is not debt based, which for most of you that follow my work already know includes physical gold, and physical silver.
I still affirm that in my opinion physical silver is the most undervalued asset on Earth at this time.
Gregory Mannarino
Gregory, I've been following you for a few months now and my trading as well as awareness has increased greatly. So when I heard you mention Steemit and cryptocurrencies I realized I owned a steemit Acct but was non-active due to the focus on traditional trading. Thanks to you I have a coin base Acct, Bitstamp Acct and a Gatehub Acct, I feel bitcoin is a little over priced so I'm jumping on XRP (Ripple) I believe the banks will make this cryptocurrency King. Last week is was .05 today it's .13 I'm definitely long on this one.
Also thank you for telling all your followers to pay attention to the bond yield curve, I compared the 1 month to 2yr bond yield curves from 2007, 1999, and earlier and noticed a distinct pattern before let's just say Sh$t hit the fan lol!
Last but not least in my opinion I believe our financial crisis or bubble will come from the derivatives market. Once again Gregory, thanks for being awesome! I'm actually in the Entertainment industry Music mgmt, touring and marketing but the financial sector intrigues me! I will start posting more content on music specifically streaming and stocks, thank you for being an inspiration.
Spoonz Music Group Inc
Raheen G
Thank you for this reply. It is people like you that inspire me to do more. I appreciate you.
i've been following greg for years, straight forward dude who seems like a pretty good trader.
Cryptocurrency is amazing... better than stocks/bonds/401k there's nothing like it. I have put in about $200 in the last few months and I'm up to about $1800 now effortlessly. Bitcoin steadily going up... lots of altcoin following suit. Love it.
I like that its 24/7
And no middle man deciding if the payment should go through
I hope you feel the same way if it crashes back to $200.
If it crashes down to 200 I'm buying a ton of it....
And what of it? Then he'd be where he started... how much would a 401k return in "a few months"? $4? You must be the type of person who plays roulette and places a chip on every number... or not a gambler at all. Crypto exchange is a gamble, since there's no client base or real world application yet, based purely on speculation. I'm sure splatterhaus knew exactly the risk he was taking.
The question is...are you buying STEEM ans betting on its future?
Personally, I earn STEEM. I believe in its future, do you?
I had never heard of steem until watching Gregory Mannarino's video on youtube. Still learning about it.
Hi Gregory, I have followed your work for years and am a member of your trading room. Thanks for all you do and Will you be promoting steemit in your video's? Steve
Yes I will, already have in fact, more to come my friend.
Agree re Silver. Its incredibly undervalued.
Can also see tremendous upside for both Uranium(due to move away from fossil fuels) and Cobalt(huge demand from Tesla's gigafactory, to name but a few).
Gold & Silver upside-The challenge is removing/reducing the amount of trading volume done through the comex, the Shanghai exchange is more free market orientated.
I have invested $15K in various alt coins including Steem power, bitcoin, ether, antshares, factom and storage coin. My holdings are now worth between $50-60 K. This has occurred since Dec. 2016. The revolution in alt coins is occurring. Blockchain applications will change the world. How exciting!
I totally agree!
Thats great to hear. awesome
Gregory,
You should do a video on your channel with Crypt0 talking specifics about crypto-currency. I think that would be awesome to see that on your channel
I just might! Thanks.
Cryptocurrency is great. It is the future like internet once was. Only problem that I see is high volatility. Also because of the the global debt which will bring a new crisis. 2nd largest bank in Cyprus went bankrupt in the last financial meltdown. Many people lose their life savings. Bitcoin soar when this was happening.
Agreed. People need to get away from debt based assets like fiat currency.
Hi Greg. We have been following you for quite some time, now. I'm glad you made it over to steemit. I've been out of circulation for a little bit, but am fixing to start posting again. I write things, and am working on a space western novel. ~ @james83501 (same handle on twitter and steemit)
Thank you. Yes start posting!
Hi Greg. You can follow me @james83501 (same handle on Twitter) I'm an acquaintance of Clif High and Tampa Joe (jsnip4). I'll be cranking out some posts that may interest you...I am also looking for a blockchain version of YouTube. So far I have found LBRY https://lbry.io/learn
I love Cryptocurrency because it's a way that we can get out of the system and to where the government can't see everything that you are investing in. Currently every transaction with bitcoin is transparent but other altcoins eg: Dash, have ways of hiding transactions so that they can't be followed. Thanks Greg. Love the videos & looking forward to more of the Blogs on STEEMIT!
Thank you!!
Hey Greg, you are a powerhouse. Thanks for all your work! Cryptocurrencies, Gold and Silver have a great future. We need these assets in our posession if we are to survive what's coming.
You know it!!
I like cryptocurrency but I'm worry the government will make it illegal .
There's a reason the software is decentralized and distributed. They can regulate and make laws all they want. Minus cutting the power, cutting the internet, or pricing people out of power or the internet, not much they can do to stop it really. There is a small possibility that quantum computing can crack the current algorithms that cryptocurrencies use, but governments probably wouldn't use those top secret computers for that, hence risking the tech becoming more widely known to the general public. If quantum computing was used to crack current algorithms, developers would just take the last known snapshots of the the cracked cryptos, and restart them from where they left off on new, stronger algos, even ones created with your now leaked quantum computing. See where I'm going here? Cat and mouse game, and there is nothing the government can do better than the private free market, including battling software/hardware devs and hackers.
I believe this would be very hard honestly.
I love your work, and i have been following you for sometime now. I am happy to follow you here,
Thank you! I am glad to be here.
I've been following you for awhile now, will follow you here as well!
Welcome to Steem it!!
Thank you!
Congratulations @marketreport!
Your post was mentioned in my hit parade in the following category:
Thank you so much! Keep in touch.
You forgot 'period!' :-)
I totally agree with your statement. Dump your fiat money into valuable assets is the way to go!
You are right. I did forget that!!! Awesome my friend.
Great stuff Greg!
Why thank you very much!
It is odd for me seeing you talking about Crypto. I have been in the Gold and Silver world for years and it is cool seeing more more and more people that I respect talking about it. This is a good sign!
As you know, I despise debt instruments and I believe that people need to get away from fiat currency, I think Cryptocurrency is another way to do this.
Always love your post.
Thank you!!
The Cryptocurrency market capitalization is rising as new money and institutions join the scene. It only makes sense that the value of individual coins will follow to the upside, as long as the fundamentals of the coin are sound.
I totally agree.
I just joined Steemit and I'm so glad I listened to you. I just invited my son to sign up & follow you as well. He will be graduating from college in a few months. It saddens me to think about the bleak economic future our kids are facing. Thanks for the information you so generously share your followers.
You are welcome! I am glad you are here.
Silver, you mean Litecoin? :p
i just have to say i really appreciate everything you do and i have follow you for some years now :) thanks for inspiration
I agree with you post 100%
Thank you.
"I still affirm that in my opinion physical silver is the most undervalued asset on Earth at this time."
right on , but its likely to stay that way for years while BTC keeps rising.
Physical silver is not a trade, it is a long term investment.
Hi Greg, not being an expert, I tend to go with the advice that analysts such as yourself have to say. You often warn when you feel something might happen on the stock market. Can you do the same for the cryptocurrencies please. I'm looking to buy in more but worry about timing / bubbles etc
Greg, thank you for your post....
Been a long time collector of the AG47 but its hard to see it getting smashed month after month by the cartel...Which is why im about to take the plunge and sell some of my silver and buy into some Crypto...its a risk but then everything is a risk and cryptos are looking good right now.