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What is Bitcoin or CryptoCurrency? Bitcoin Explained


What is Bitcoin or CryptoCurrency?

In this video lets discuss about Bitcoin.

This short video explains Bitcoin

Please leave a comment below and let me know what you think.

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9 thoughts on “What is Bitcoin or CryptoCurrency? Bitcoin Explained”

  1. Great advice Neil,
    Korean and Japanese house wife’s are driving this crazy demand – why? Coz their culture limits them to be financially free.
    Use only your beer money, either way it probably gonna go down the toilet.
    Blockchain is an amazing technology but its not a valid currency. eg: Great for tracking individual tuna-fish from sea to store.
    Its also very environment “unfriendly” as it uses more power than Ireland! So its also killing the planet.
    And “crypo-mining” is now happening as viruses hijack your phone, computer and website to steal CPU time and your data allowance to process the currency – so it also supports ‘theft’…..
    Just a bad idea unless you are a drug dealer and cant launder the money legally.
    To use n buy this is stuff is folly.

    Thanks for voicing some “common sense” Neil.

  2. Neil, you seem like a nice guy but seriously mate stick to Ebay. In response to some of the points you make about crypto currencies. Yes these markets are volatile, but how does volatility not make something an investment? Have you checked the price chart of BHP for example over any time period? And its not a long term investment? WTF, $1,000 invested in bitcoin in 2013 would now be worth over $1.5m dollars! And who’s to say that it wont be worth a lot more in 10 years time?
    Also, its not just crypto trading where you only make your profit or loss when you sell, that’s the case for any financial instrument, including property. And 50% of the people think that something will go up and 50% think that something will go down? What a load of tripe! This may be the case for futures trading which is a zero some game, but for most other markets sentiment is never always a 50/50 ratio.
    Cryptos could turn out to be nothing but a another tulip mania or be part of the next great tech revolution. I’m still not sure, but i think it’s worth a small punt.
    What annoys me is negative comments from people who either fear or don’t understand cryptos, or have a vested interest in seeing them fail.

  3. I would agree with some of what you’ve discussed however after trading crypto currency’s for only 5 months I’ve bin more successful and found it less stressful then importing and selling on ebay ect. You are one of the honest and helpful ppl to look upto and learn from in your industry, many others are only in it for themselves. Everyone is taking thier piece even when you buy from china but the time the consumers recieve your item you’ve payed china paypal ebay australia post and then you sell it cheap but others seem to have it for sale cheaper. Guess you need buying power. Crypto trading i got to start with a few hundred dollars it’s increased %2000. Yes trading alt coins you will lose money at first, you need to so you can learn how not to. Once you learn to read candle charts using even basic ta and listen out for news n patnerships it becomes easier. You can day trade which is more how you’ve discribed trading or swing trade and even hold if you respect the project and have done the research ie white papers ect. Most of all don’t blindly listen to anyone lol youtubers included when the tell you which coin to invest in. Do your own research. And as far as bitcoin it’s just gone through a correction as it does every year it should start it’s rise up again in the next few weeks.

  4. hi Neil, glad you made this vid regardless that it has nothing to do with ebay sales etc.. you may have saved many peeps from falling into this bitcoin scam and losing the lot. Theyd be better off putting it all on red (or at least equally at risk anyway) .. i’m sharing because ive heard a few of my friends of late discussing the bitcoin thing and to be quite honest its just plain scary. thanks again, Tracie

  5. Not really so – there’s a lot of FUD propogated everywhere atm. Bitcoin and other cryptocurrencies should be looked at as essentially stocks, in which you have to evaluate whether the technology behind the coin in question is a long-term winner, a Buffett-like strategy. This is essentially, evaluate, buy and hold.

    Crypto currencies so far haven’t really been for day traders. As you say, they’re too volatile, especially if you trade crypto CFDs.

  6. As far as I am concerned, you provided your E Bay members with your explanation of what Bitcoin is all about in a straightforward and clearly understandable manner. I am suspicious of members who are saying you should stick to E Bay only or that you are wrong and they are making money. So go to a Bitcoin Meetup they have one in Sydney no need to post negative remarks on this site because we want Neil’s opinions on E Bay, Amazon, VAs, TradeUp, Magneto, Snagit etc etc 4,000 of us think he is great.

  7. A lot of monkeys lived near a village.
    One day a merchant came to the village to buy these monkeys!
    He announced that he will buy the monkeys @ $100 each.
    The villagers thought that this man is mad.
    They thought how can somebody buy stray monkeys at $100 each?
    Still, some people caught some monkeys and gave it to this merchant and he gave $100 for each monkey.
    This news spread like wildfire and people caught monkeys and sold it to the merchant.
    After a few days, the merchant announced that he will buy monkeys @ 200 each.
    The lazy villagers also ran around to catch the remaining monkeys!
    They sold the remaining monkeys @ 200 each.
    Then the merchant announced that he will buy monkeys @ 500 each!
    The villagers start to lose sleep! … They caught six or seven monkeys, which was all that was left and got 500 each.
    The villagers were waiting anxiously for the next announcement.
    Then the merchant announced that he is going home for a week. And when he returns, he will buy monkeys @ 1000 each!

    He asked his employee to take care of the monkeys he bought. He was alone taking care of all the monkeys in a cage.
    The merchant went home.
    The villagers were very sad as there were no more monkeys left for them to sell it at $1000 each.☹️
    Then the employee told them that he will sell some monkeys @ 700 each secretly.
    This news spread like fire. Since the merchant buys monkey @ 1000 each, there is a 300 profit for each monkey.
    The next day, villagers made a queue near the monkey cage.
    The employee sold all the monkeys at 700 each. The rich bought monkeys in big lots. The poor borrowed money from money lenders and also bought monkeys!

    The villagers took care of their monkeys & waited for the merchant to return.
    But nobody came! … Then they ran to the employee…
    But he has already left too !
    The villagers then realised that they have bought the useless stray monkeys @ 700 each and unable to sell them!

    The Bitcoin will be the next monkey business
    It will make a lot of people bankrupt and a few people filthy rich in this monkey business.
    That’s how it will work.

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Neil Waterhouse

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