Hey everybody Dave Bartosiak with Trending Stocks at Zacks.com. Shhh. You hear that? No. You can’t. Because I can’t hear anything other than people talking bitcoin. Market at all-time highs? Have you seen bitcoin? Tax cuts pass? Yeah but my brother has an Ethereum farm in Indiana. Canadian weed stocks like Aurora Cannibis ACBFF on the run? Sure, but don’t you think bitcoin cash will surpass bitcoin due to smaller block sizes and lower fees.
Look man, I know bitcoin is fun to talk about. And you disenfranchised millennials have a thing for taking down the existing social hierarchy that has locked you out of your dream job as an astronaut rock star race car driver that moonlights as a fireman. Yes, Reddit obviously makes you smarter than everyone else. Cryptocurrencies are the millennial 401k so take your fiat currency and shove it.
Don’t you old guys start giggling yet because I’ve got a fistful of salt for you too so pucker up. Staring up at the clouds, shaking your fists and yelling at bitcoin. Bitterly calling it a Ponzi scheme and the biggest bubble since Tulip Mania. Ain’t that the pot calling the kettle black. You had the dot com bubble, the real estate boom, and now a QE fueled rally off the bottom, yet, you have the nerve to talk garbage about crypto. It’s not backed by anything? No, it’s just backed by the millions of nodes in the blockchain. Talking about, “You can have blockchain without crypto.” Sure, if you ignore the definition of blockchain and replace it with the word database. Ignore the independent confirmation of transactions by third parties compensated for accuracy.
There is a certain mania developing here, but perhaps it’s not in the underlying cryptocurrencies. It’s in this new phenomenon where you just add “blockchain” to your name and your stock rockets up 1,000%. (NASDAQ:RIOT) , used to be a company called Bioptix, now Riot Blockchain. Long Island Tea (NASDAQ:LTEA) company decided Strong Island Iced Tea wasn’t a good idea, decided instead to be called Long Island Blockchain. Longfin (NASDAQ:LFIN) announced they bought Ziddu.com, a company that uses the blockchain for micro-lending. These companies have added more than 1,ooo% in some cases. Heck, I’m gonna get in on this action. Did you know that Bartosiak doesn’t mean incredibly handsome in Polish? Nope. Bartosiak is actually Polish for Blockchain. My name is really Dave Blockchain. Hello, payroll department? That’s right, What about Dave? You are now clear to quadruple my salary because my last name is Blockchain.
I know this is all fun and games until someone gets hurt so here’s real advice. If you believe in crypto, buy some crypto, add crypto stock exposure, and become a HODLER. Not a holder, a HODLER. If you think it’s a scam, take a few bucks and short it if you dare. But sitting on the sidelines and yelling back and forth at each other is like not voting then taking politics all day. Also, remember at this stage it’s speculative. So don’t go pouring in your avocado toast money or putting it on credit cards. The bulls think bitcoin goes to a million, the bears think it’s worthless. I suspect the truth is somewhere in-between.
Every time you share this video, one of the four billion people on Earth with a cellphone and no bank account gets connected to the world economy. Subscribe to the YouTube channel, twitter @bartosiastics and come back for all the Trending Stocks with Zacks.com, I’m Dave Bartosiak.
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