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Here's what the 'Warren Buffet of Crypto' told us yesterday

• https://www.sovereignman.com

If you've been on the Internet in the past six months, you've no doubt seen loads of ads touting "crypto geniuses" that have found the next token that's going to explode…

One guy in particular seems to be following me around to every website I visit, claiming to have some special insight into the "truth" about crypto.

But the truth is, nobody has a crystal ball.

Ultimately, what's going to drive crypto prices is what drives all asset prices in the long-run – supply and demand.

Most cryptocurrencies have a fixed supply. For example, there will only be 21 million bitcoins mined. Ever. (Today there are about 17 million in circulation).

And because there's a fixed supply, prices should be determined by long-term demand.

Every crypto expert you talk to will have his/her own opinion on which coin is going to the moon… and why. But it's important to form your own opinion.

With crypto, the fundamental question you should ask yourself is will there be more demand or less demand in the future?

And if you believe there will be MORE demand in the future, the next question is– which coins have superior technology?

This is an important question. Every coin has different software code with different features and limitations.

For example, Bitcoin has a big limitation in that its network can only process a few transactions per second.

Compare that to Visa or Mastercard, which can process 24,000 transactions per second – nearly 10,000 times more.

One of our team members attended a crypto conference in New York City yesterday… and of course the room was filled with self-proclaimed geniuses.

But there were a few legitimate standouts who had a much more rational view.

One of them was Barry Silbert.

1 Comments in Response to

Comment by Ed Price
Entered on:

One interesting point to note is that, as of this writing, the number of unconfirmed Bitcoin transactions is around 9,500. Yet, the price remains around $8,350. When the price of Bitcoin was near $20,000, there were at times well over 200,000 unconfirmed transactions. The point is that the number of unconfirmeds has dropped far further than the price, percentage-wise. Why has the price remained so high? Is this the method that some shrewd operators used to keep the price high even though the number of transactions has dropped?


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