Long-term thinkers ramp up Bitcoin hoarding, slow Coinbase, always try to increase your BTC stash

October 18, 2019

Hello everyone this is Adam Meister the
bitcoinmeister the disrupt meister
welcome to today in bitcoin today is
July the 29th 2017 buy-and-hold get rich
by desiring little strong hand
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gotta fix the hair right a little bit go
shave so answer yeah tomorrow I well
it’s Sunday here in Brisbane Australia
tomorrow I’m going down before I leave
for back for the United States I’m going
to the Gold Coast tomorrow so if anybody
is familiar with the Gold Coast then hey
man maybe you’ll see me down you’re see
me down there tomorrow don’t worry we’re
gonna get into this show in one second I
just I’m really clicking around here I
can’t see you guys in the chat so if
anyone’s saying hello over there anyway
so what’s on the agenda here today what
do we got what are we talking about here
besides crypto hwl and all that awesome
stuff so the Bitcoin dominance has
increased lately as I believe people are
selling their alt coins inward again
we’re Bitcoin because some of these
people out there
they want non stripped Bitcoin and what
I mean by that is after August the first
if you get Bitcoin you have no I most
you don’t know if the person has already
stripped the fun coin from it because
remember on August the first they’re
coming out with at least one coin that
they’re trying to pretend is a Bitcoin
they’re forking it away from Bitcoin so
thus if you own Bitcoin before that date
you’re entitled to this free FUD coin
also and I cover this fudk when I don’t
mention it by name I mentioned I I
talked about in past videos you can look
up look up the past videos and you’ll
see what I’m talking about here but
there are people who want this who think
whatever I want this free coin you know
your life is free so they’re there some
people are buying Bitcoin out just for
that reason and selling their alt coins
to get Bitcoin so that’s something
that’s going on out there I just wanted
to point that out
now the projected up locking date for
segregated witness is Tuesday August the
8th and in the morning and after that
date and and that’s also obviously after
all this flood coin nonsense they’ll
probably die down a little bit long-term
thinkers if you’re if you can even think
long term for like two weeks basically
half a month if you can hold off and
doing anything crazy with your Bitcoin
you’re gonna be really happy by that
point because segment will be activate
that the what I’m the price of Bitcoin
could be quite a bit more than it what
is it right now $2,700 $2,600 right now
we’re gonna be through a lot of fun by
that point um a lot of things are gonna
be a bit more clear in Bitcoin so there
people is saying all sorts of big
numbers for later in August so try to be
a long term thinker try to think about
think about what’s gonna be going on in
two weeks can you guys wait for two
weeks I mean you could save yourself so
much agony if
just don’t do anything with your Bitcoin
next two weeks and so right now as the
title implies Bitcoin hoarders are just
ramping up right now they’re buying the
last of their Bitcoin they’re moving the
last of their Bitcoin to safe places and
they’re just getting ready to do nothing
but their Bitcoin and in the long term
and it’s gonna help so that’d be a
long-term thinker that’s why I preached
this type of thing and the other thing
to remember through all of this once
this FUD coin comes out and i’m gonna
talk about this photo coin a little bit
in a positive manner I guess um the
positive aspect of it is that usually
container in your mind is you should
always be trying to acquire more Bitcoin
you should always be trying to increase
your Bitcoin stash so if you happen to
have some new fake Bitcoin okay and all
of a sudden there is an easy way to
dispose of it where you’re not going to
have to risk any of your real Bitcoin
then go ahead and dispose of it now I’m
gonna go into some Michael Krieger who
has been on this show before
has a very interesting blog post that I
link to below
where he discusses some scenarios and
some strategies about how you might want
to get rid of your flood coin this is
this fake Bitcoin that’s being created
out there but we’ll get into that uh
we’ll get into that in a second alright
so what would I also wonder is that and
I encourage Bitcoin hoarding I really do
but I wonder if we’re getting some new
orders here because some of them just
want to get this Frick coin after August
alright to each his own but we going
back to this free coin and what people
expect of it and what people don’t
expect of it we when people start
valuing it and start mentioning
three-digit numbers like $200 $300 we’re
talking about creating a coin out of the
blue on new altcoin because that’s all
it is and saying that it’s it’s market
cap is 3.5 billion dollars or something
like that that it
the number for cryptocurrency on earth
and if this really happens if this
valuation happens we’re just going to
learn how many crazy newbies there are
in this market that just by I CEOs
blindly and just see how much our
community has been taken over by new
people and if that’s the case then
that’s the case then we’re gonna have to
admit it Wow there is some insane
irrational exuberance and if there is
something and I don’t want people to be
could that confused I mean I have
encountered so many people who have
jumped into this space and I’m so glad
well you’re getting new people into the
space but they have just skipped
important steps don’t they don’t
understand that you can check the public
address on Bitcoin you know that their
block explores people don’t even know
like these things they don’t know what
the Bitcoin having is just just weird
and these are the people that are most
likely gonna get hurt by the icy OS but
they could get hurt by this too because
some of these new people are gonna want
to buy this off point and whatever you
do do not buy this Alcorn
if you happen you know you have it for
free because your own Bitcoin that’s out
there selling is fine I guess if you’re
not gonna risk your Bitcoin in some way
alright but buying this off oh but uh
what I bet you’re gonna get involved
with such a pump and dump it is I mean
if you want to be on the other end of
that trade where everybody’s trying to
sell then you know be my guest or
whatever but don’t don’t don’t do that
don’t do that if you’re a new person
don’t be my guest because I don’t want
people getting hurt here um people
buying this thing for $200 and then it
being worth five dollars in a week think
long term here people now again if you
can sell it for $200 now then Wow I mean
what a world we’re gonna be living in
its that irrational but I mean when
you’re talking about valuations of $200
$100 I mean we’re talking about market
that are greater than Manero greater
than litecoin of a coin that has not
even been created yet as of today July
29th on the East Coast and July 30th
you’re in office
oh yeah this coin doesn’t even exist yet
and people are fixing it’s worth more
than Manero
I mean Manero they’re going to be almost
the same amount of Manero is out there
as there are this new Fudd coin and so
people like some people other expect the
mark to say that this new Fudd coin is
worth is better than Manero in every way
possible which is an anonymous quench
there’s something completely different
than Bitcoin this coin that is being
created this thought coin out of China
that’s being created it does nothing
what does it do that’s different in the
real Bitcoin I mean we’re talking crazy
I mean they’re using the name Bitcoin
and this is a psychological thing and I
guess some people who are gonna try to
buy it they’re not thinking like well
I’m wasting $200 on this there’s a
different psychology involved they’re
like well pretty etherium for this I’m
trading a Bitcoin for this but you’re
that’s real value they’re dudes that
feel value try to like try to think of
it in a different way anyway if this
thing stayed is legitimate for more than
24 hours and there’s a part of me that’s
gonna be really shocked by all of that I
mean I just can’t I’m just the kind of
thinker who just can grasp for such a
rational behavior and I mean no baby can
last longer than 72 hours but I mean I’m
improving I didn’t wrong before and
anyway I just don’t see how a random all
coin that does not exist at this point
becomes a number for cryptocurrency on
on earth in a few days I mean it’s just
think of it that way but um and I want
to point out that’s something that might
lead you to believe that this thing
because it’s using the Bitcoin name
could surge could do something is that
if you look at this Bitcoin dark that
already exists in Bitcoin Plus that
already exists I believe that’s their
names that you’ve done well in the last
few days they’ve like double in price or
something and I don’t know
it amuses speculators buying it up to
trick newbies you think that this is the
new Fudd coin that’s about to come out I
don’t know or are newbies that prevalent
if newbies are that prevalent a lot of
all these are about to make I do quite
well on selling our FUD coin because I
mean I’m not doing anything with that
fun coin you know that in the first 24
hours of it but again if it stays around
the value of 10% of one Bitcoin oh my
god so then you sell your stash of FUD
coin and you increase your bitcoins – by
10% oh for these fools these greater
fools I mean you have to do at that
point you’re gonna have to do it um so I
mean I’m warning people though I’m
warning people like I really don’t want
to see that happy I mean what a
situation we’re about to enter here it’s
it’s I mean there’s a certain level of
excitement you can tell it by voices
stuff and if you watch this week in
Bitcoin we covered this kind of thing so
let’s go let’s let’s move on a little
bit and again notice how I did not pound
that like button people because I
haven’t said it yet um what was I gonna
say so let’s move on again notice how I
don’t say that Fudd coin by name you can
look it up you can look up all the
players in that I don’t mention them by
name either because there’s no there’s
no need to you know make it seem
legitimate because it’s not legitimate
at all right I mean interesting August
1st was gonna be interesting I’m gonna
be on a plane that’s how much I care and
I’ll be in New York for a few hours on
August 1st you never know who I’ll run
into uh I want to know now I want to
talk about that aspect of August 1st so
there’s a tweet out there by trust nodes
chromebase seemingly facing an exodus
Bitcoin withdrawals delayed up to 12
hours due to a large volume of outgoing
Bitcoin transactions
okay so Bitcoin as economies has really
slowed down now and if you that’s
unfortunate and it and people want to
ops you’re doing the right thing they
don’t want to keep their Bitcoin on a on
a third party which is you should always
not want to do that I mean come on but
some people are doing that because they
want to get there
flip point and I don’t think coinbase is
gonna give you your free foot point so
there’s a little bit of the market
psychology that there’s you know there’s
some psychology going on there if
coinbase would have said they’ve given
out the free fun coin maybe it’d be
unfortunately it shouldn’t be different
but one should never keep their Bitcoin
exchange look what just happened to be
TC – E and speaking of that there is a
tweet out there that says that from the
BTC – e situation whatever you want to
call it closure that 92 million dollars
worth of aetherium has been seized by
the US government by who I don’t know so
maybe we’re gonna have an aetherium
auction one day a government auction one
day that that’s that’s your the
interesting um but again that’s a lot
that’s a lot of lost cryptocurrency
there a lot of people are gonna be
really angry that they’re not getting
their etherium back or their Bitcoin
back or their litecoin back so again I
want to point out that you need to have
a strong hand people wait two weeks
until after we’ve got seg with uh locked
in and after this fun coin nonsense is
going on and I think you’re gonna be
happy with the Bitcoin price and whoo
yeah I mean we’re gonna if things get is
the people are silly and start buying
this FUD coin or whatever who knows what
might happen to the price of Bitcoin and
we’re gonna get into that when we talk
about the Michael Krieger scenario here
yes and someone asked me in the in the
comment section about anyone just fork
off and create their own altcoin just
like yes at any time anyone can create
their own altcoin from bitcoin like this
flood coin is doing this fun coin is is
picking this date to create the most fun
possible and there you’re doing it for
leverage for strategy for who knows what
reasons but you can fork off a bitcoin
anytime you want now what people and it
doesn’t matter and just create an
altcoin that’s all this is that’s all
this is
and usually doesn’t get any attention
it’s getting attention because people
about it making seem legitimate it’s
using the big boy name it’s it’s there
people are talking about it who have
been given legitimacy who have should
never have been given legitimacy we’re
already way down a road where why this
is being given attention but it’s no
different than me I could just get some
dudes together and we can create Adam
Meister coin at a Meister Bitcoin and it
would be the same thing but what people
are worried about is when aetherium
classic type of situation now a lot of
you don’t remember that but aetherium
had a hard for where the people behind
aetherium said okay we’re we’re hard
we’re making a new version of aetherium
but this is area so it so and we’re just
leaving this but the rest the old
atheria behind and we’re gonna forget
about it and some people decide we’re
not going to forget about it so that’s
where the contention comes into play
okay that’s where the bat one person
saying this is the real etherium the
other person saying this is the real
theorem and the majority are saying the
new aetherium is the real aetherium but
original aetherium is still alive so
they have a legitimate claim that that’s
the real aetherium so we don’t want that
to happen to be qin that’s what we’ve
been trying to avoid with Bitcoin where
people decide you know what there’s no
nothing technically wrong with Bitcoin
but we’re stuck we’re gonna fork off we
the majority say this is a new Bitcoin
and we’re letting this old Bitcoin
behind everyone’s gonna forget about it
and then not everyone forgets about it
someone continues that old chain and
that is the situation to be avoided at
all costs but that’s not what we’re in
right now um so I I hope people
understood that I tried to technical way
we are not there it is not a contentious
heart for what is going on so there’s
nothing to worry about in
terms alright so this this this all coin
that’s being created though it I decided
it is the official coin of the food
court so if you are in um if you if
you’re eating in the fun court with
Peter chef and all big guys who create
the fought against a Bitcoin you gotta
use this as your uh this that’s how the
you pay your your Peter ships how you
pay for your fun food with the flight
event maybe that’s it’s good use once
it’s worth five cents you know you buy
up use a hundred of them and get
yourself a hamburger at the food court I
don’t know Peter Schiff burger some
pound that like button
oh my live viewers out there we got
about a what a hundred of you here at
8:30 p.m. on the east coast or 8:20 p.m.
on the east coast back home back in
Baltimore and New York and all you guys
out there how you doing
so uh chumpies actually brought up
something that was really interesting
that I was thinking about lately that
you know for some of these exchanges you
can only withdrawal $2,000 worth of
cryptocurrency in one day which is
another reason why you don’t keep your
coins on these exchanges so some people
are now worried that any wait a second
if BTC knees got shut down then maybe
we’re gonna get shut down over here so I
gotta start getting my cryptocurrency
off this well some people have like a
lot more than $2,000 worth of
cryptocurrency apparently on these
exchanges huge mistake but what I was
thinking about is if this BCC know if
this fuck coin that’s being created this
blood altcoin if someone has like 30 of
them or in exchange for this thing I’m
sending my 30 over there right now to
sell holy everybody take a few days to
sell it you know get all of your Bitcoin
off of it but obviously you’re gonna
sell it for Bitcoin how glorious if
you’ve got thirty of these things
and you sell them you get three Bitcoin
worth of them
Oh oh my god well it’s gonna take you
three over three days to get your
Bitcoin off of there so that’s an
interesting scenario and then how to fit
the unfortunately then during that
three-day period the exchange goes
bankrupt and closes down that would be
sad but that’s just a fact of life with
these limits on the exchanges a coin
journal dotnet is reporting the genesis
mining which is something none of you
should get into it’s basically a scam a
cloud mining is a scam cloud mining is a
scam but Genesis mining is saying they
have been hacked whoo have they really
been hacked or is the gig up is the jig
up is it oh I mean are they being you
know a lot of people say they’ve been
hacked and they just disappear I don’t
want to start any fun but you should
never been messing with clown mining in
the first place so keep an eye on the
Genesis mining hack that has been
all right toward the Meester’s got a uh
a awesome tweet out there crypto
if cryptocurrencies are life forms you
better get it you better get it largely
right at launch or you risk creating
Frankenstein’s monster that that
pertains to the situation of today in
many different ways with all coins that
are coming out with a lot of coins that
are coming out with the ICO that are
coming out all right I’d link to uh
Michael Krieger Liberty blitzkrieg he’s
been on the show before he is not a
Bitcoin guy he clearly says he’s not but
he’s I mean he’s a lot of fun raised on
the show and he he does Bitcoin related
up coasts and he’s got this one out
there about the flood coin and he gives
some strategies and he talks about how
there are people out there threatening
to buy up this FUD coin and dump their
Bitcoin for it in order to dump the bit
make the Bitcoin price go down he goes
over all sorts of scenarios and why you
might have want to hold on to your FUD
coin for a week and then can sell your
as a way to fight back against these bad
actors who are dumping their Bitcoin if
these people have they are insane enough
to dump their Bitcoin to sell Bitcoin
for this coin as of today doesn’t even
exist okay if they’re that insane if
they’ve gone that wild if they’re that
psychopathic sociopathic whatever you
want to call them they hate the current
situation in Bitcoin that much if they
want power that much then whoa
we’re in for a crazy crazy ride and
there’s some bad actors and then I’m
ready to profit off of their insanity
and just you know fight back by dumping
their FUD coin back in their faces and
getting paid three hundred dollars a
five coin my god if they were to buy my
I mean who I just I cannot imagine I
don’t keep repeating myself I’m a
long-term thinker this thing is in the
long-term in it’s not a long-term thing
it’s a short-term attack on Bitcoin our
short-term way to prepare for the
November attack on Bitcoin I don’t know
a lot of newbies are gonna get hurt by
this man and a lot of buy-in holders and
people who hoard are just gonna be
laughing laughing what everything that
they did nothing and eventually dump
this Oh coin um finally I mentioned
again reminder
trays ORS are gonna be available next
Friday Joseph says that Croatia are you
all calm use my affiliate link below I
mentioned how people have been
complaining to me about litecoin and
traceur and the new EMA dress I have
linked it below to the a place where you
can convert your litecoin and address
into a light point three address or your
like point three address into a like M
addressed if you don’t know what I’m
talking about then that’s cool but if
you’re a holder of like point you might
want to look into this type of thing I’d
be comfortable or the situation just
people have been having problems sending
litecoin back and forth to their trays
or and there’s just some transition
that’s going on right now and you won’t
have to worry about it if you do this
conversion thing time that like button
i’m adam meister the bitcoinmeister the
disrupt meister remember to subscribe to
this channel like this video share this
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Brisbane is it has been great it’s
lovely here in Australia count out like
button I’ll see some of you in the chat

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