Why you shouldn't buy Bitcoin in 2022 if you have Crypto FOMO

[@PreetBanerjee]

Apologies for the audio glitch. At 8:35, I realized I had recorded slightly wrong numbers and re-dubbed them, but forgot to remove original voice track. For clarity, here is that section with the proper numbers: "If 26% of the world’s population is under 15, and 10% are above 65, that leaves us with 64% of the world’s population we could roughly consider as the market for cryptocurrency uses. From a total population of 7.8 billion, that equals 5 billion people. One estimate suggests there are over 300 million crypto users worldwide. This represents 6% of people on earth between 15 and 65. That suggests we are still in the early innings of the Early Adopter phase. Some might argue that the overall market is smaller than 5 billion people as some people don’t have access to technology in general around the world. Even if you cut this potential market in half to 2.5 billion people, that puts adoption at 12%. Still in the early adopter phase."

[@wealthiness]

I thought another video opened 😂

[@PreetBanerjee]

@@wealthiness Haha - yeah, sorry :(

[@TheMrFive]

Preet I was listening to this at 4am and it *creeped me the heck out!* So badly. Just goes to show how much our mind can exaggerate the significance of the unexpected... Why was I listening to this at 4 in the morning? Because that is how good this video is. Thank you.

[@rokairan]

This is the most reasonable crypto recommendation I've ever heard. Well researched and presented. Thank you!

[@MK-hp8zr]

Exactly! Most objective representation of the stuff, free of sensationalism and jargon only aficionados understand

[@NAL123]

Good video Preet. I diversified my investment portfolio with Crypto and normal shares but lost a lot of Crypto investing in DEFI DAO and Node Projects as most of these projects were rugpulled. You are right, it is still early days in Crypto, it is unstable, there's a lot of charlatans out there who are not doxxed, running these DAO projects and who are ready to take your hard earned money. Most important when investing in Crypto, do your own research and only invest what you are willing to lose.

[@LeedawG766]

I enjoyed the unbiased viewpoint, a lot of people are fomo'img out and depositing life savings or funds they can't afford to lose. I was deeply invested/all in in 2017/2018/2019/2020 when people called me crazy during the deep bear market. Unfortunately I took my gains and bought my 3rd property and missed the 2020/2021 jump. I often ask my friends and people investing how many people do they know who became wealthy from crypto, and they can't come up with any personal examples. As you mentioned, most people would have cashed out after 100% gains

[@Steven-wq8tx]

Globally diversified portfolio will always win out. There is no point in picking the next tech stock, figuring out which EV Car manufacturer, or like you said, crypto mining companies to pick. Because the market is dynamic and will always adapt. You’re better off using the dozens of hours of research into improving your career skills and growing your personal salary.

[@anonymous1432341]

Thank you Preet. Yes man the FOMO is real. And I almost got into bitcoin end of 2021. Funny thing : the transaction were I transferred my funds to a crypto trading platform was rejected by the bank Anti-Money Laundering unit. I think that was a sign to move on and keep investing in good old index funds 👍🏼

[@anonymous1432341]

Oh and I loved that Matt Damon’s joke 😂😂

[@PreetBanerjee]

Interesting - I’m curious which platform that was!

[@anonymous1432341]

@@PreetBanerjee its called RAIN and it operates in Bahrain.

[@PreetBanerjee]

Thanks for the info!

[@anonymous1432341]

@@PreetBanerjee No worries and thanks again for the great content!

[@albfor]

I think I’m gonna follow you for a while. Your clarity makes comfortable.

[@ajaniphoto]

This is great. Thank you, Preet.

[@PreetBanerjee]

Thanks, Ajani!

[@CryptoBellwether]

What you're missing is Mainstream Adoption when the average person invest, it's over. The large Institutions and WALL STREETS biggest Trend is Packaging Bitcoin Miners and going Public. (That's the Smart Money) follow them.It's stupid to let someone trade your money when you can just dollar cost average into it... Noting more risky that being in the highly over inflated stock market and or REAL ESTATE

[@odarb3433]

Preet! Trust all is well long time subscriber. Question! What are the best INDEX FUNDS in Canada? Please and thank you.

[@PreetBanerjee]

I would recommend checking out this page for model index fund portfolios for Canadians: canadiancouchpotato.com/model-portfolios/

[@Maloha486]

The Rogers' diffusion of innovations curve was very interesting, thanks for sharing Preet!

[@PreetBanerjee]

Thanks for watching and commenting!

[@sl523]

One important thesis you didn't cover was escaping government debasement of currencies. Look at Iran, Turkey, Zimbabwe, and even the US, where 40% of new currency was "printed" since March 2020. Had I not stumbled into Bitcoin, studied it, and then purchasing some, I would have witnessed my purchasing power deteriorate as housing market exploded due to influx of new money "printed" since 2009 and even more so in 2020-2021. I agreed with most of the videos, but to dismiss Bitcoin without looking at LONG-TERM preservation of purchasing power is simply erroneous.

[@PreetBanerjee]

I appreciate your comment, but my point was mainly to address the people who want to buy because they haven’t done ANY of their own research and simply look at past performance. That being said, I don’t know if Bitcoin will or won’t preserve purchasing power in the long term. There are many variables to consider. One being whether decentralized, trustless consensus protocols will be allowed to develop without any regulatory oversight. A number of central banks have indicated they will launch CBDCs under certain conditions. It seems instead of a few hundred fiat currencies and no crypto currencies, we might see hundreds of fiat currencies, a few dozen crypto currencies, and a handful of CBDCs as being the medium term.

[@watsss]

Preet do you own Bitcoin or any other crypto?

[@PreetBanerjee]

Yes, I own a number of different crypto currencies. Some acquired as part of doing research on the area in general. And some of it is play/experimental money.

[@scottshafer9813]

Well done Preet 👏

[@blueviserion]

Thanks for revealing we're in The Matrix with these sound glitches.

[@PreetBanerjee]

Your life is the sum of a remainder of an unbalanced equation inherent to the programming of the matrix. You are the eventuality of an anomaly, which despite my sincerest efforts I have been unable to eliminate from what is otherwise a harmony of mathematical precision. While it remains a burden to sedulously avoid it, it is not unexpected, and thus not beyond a measure of control. Which has led you, inexorably, here.

[@blueviserion]

@@PreetBanerjee Masterful.

[@cherylhurst]

Great video Preet. I don’t feel FOMO with crypto thankfully, but I know a lot of my friends do and it’s nice to have a resource to share with them now

[@PreetBanerjee]

Thank you, Cheryl

[@masadshah]

Preet, yet again, great video. I have a question for you (not related to this video). I'd really like your insight into psychedelic medicine and companies that develops psychedelic-inspired medicines and therapies to address addiction and mental illness thus investing in psychedelic companies. Thoughts? Future video?

[@PreetBanerjee]

That might make for a good video. I already know my views on it (I can’t pick winners in advance and so my main portfolio is broadly diversified and passively managed - and if a company/sector becomes successful, I’ll likely get some of those gains as a result as they become part of the indexes). But as for picking individual bets, I would reserve that for a side account with more of a lottery/emotional mentality that I could afford to lose the money. Once you’ve got your financial goals planned for with a disciplined approach, then you can start to more freely experiment (but you don’t need to). That’s my philosophy though. Others may have different opinions/approaches.

[@francescocommisso5352]

Quality content my guy

[@violetalight-ourrealm3518]

Preet hahahaah ur narration...Im dying laughing...ur a genius 😆😆😆😆🤣🤣🤣🤣

[@SniperLogic]

Until we have the Dyson Sphere built, I’m not gonna be too bullish on Bitcoin.

[@PreetBanerjee]

Perhaps we are more likely to find one in deep space before we could build our own! At least, it would seem the logical conclusion 😊

[@stevenswinton6090]

Robert Kiyosaki isn't credible? That's the craziest thing I've heard

[@ANANDKUMAR-nt7po]

About to Explode AmpleSwap Token

[@skrmacs4815]

I tune in for your informative topics. But then I get distracted by your manliness Preet.

[@PreetBanerjee]

I wish creators could reward commenters because this is the comment of the year :)

[@skrmacs4815]

blushing here Preet. No reward required.

[@Trevormy]

Am afraid Crypto is a tech pyramid scheme just like the stocks certificates of Ponzi in the early 1900s, but am also 'sour-graping' on my friend's worth for the shillings and no sense invested 5 years ago.

[@PreetBanerjee]

I think there are some good projects in the space, but the sheer amount of fraud and lack of proper oversight and regulation make this a very risky space to be in. Some will get rich, some will lose their shirts.

[@spector3881]

It never makes sense, not only in 2022. (Cue the crypto fanboy hate comments)

[@francescocommisso5352]

Can I ask why you feel this way

[@55inchSamsungTV]

Lol I mean at the end of the day it’s an investment just like anything else. Don’t invest in something you know nothing about but you’re definitely missing out before mass adoption happens. The tech is only getting better and there’s a lot of exciting projects. The problem with crypto is only the shitcoins ever get noticed by the public so people don’t EVER hear about other projects.

[@petef15]

I expect bitcoin to go dead for a while around may this year. Probably this time next year is a good time to buy.

[@Logeraso20284]

DON'T FOMO IF YOU IDIOD MONEY

[@gothops2632]

I wonder then why no one has thrown Robert Breedlove off a bridge given that he predicts one bitcoin will be worth 12 million by 2030 😂