Recently I have seen some Youtube videos of someone claiming that Bitcoin doesn't have a coin cap of 21 million Bitcoins because you can break those BTC down into decimals therefore Bitcoin is a scam and the amount of Bitcoin is infinite. Now, I thought at first this video was just a troll by this entertaining Youtuber (whom I do enjoy watching for entertainment purposes) , but then I saw a couple more videos posted on this topic in where it seems like he really does believe this. At first I laughed it off and went about my day. Then today I saw a video posted by ANOTHER Youtuber I enjoy watching (again for entertainment purposes) with the title " I may sell all my BTC" or something along those lines... So I was curious as to why this Youtuber would be selling all his BTC and watched the video not thinking the 2 videos would have anything to do with each other because that would just be ludicrous... but to my surprise... they were directly related (insert facepalm here).
So just to recap so far we have Youtuber A saying that Bitcoin is a scam because there isn't really a coin cap of 21 million Bitcoin and that there is really infinite Bitcoins... because magic... and Youtuber B believing Youtuber A, making him consider selling all his Bitcoin. There are also a ton of people in the comment sections that are subscribing to this idea. Which leads me to my point.
What the fuck? Really? Now I could understand that if this Youtuber had a MASSIVE audience and he was trying to somehow influence the market for personal gain... but that's not the case. People really are adopting this idea and considering making financial decisions based on this premise that Bitcoin is infinite because MAGIC! This whole situation has made me realize to a certain extent that a lot of people in the crytpo currency space are somewhat gullible. Maybe that's why crypto trading is such a lucrative market? Anyways if you're reading this and watch crypto Youtubers please just be cautious when making financial decision based on someone else's ideas. Always do research yourself before making financial decisions, because if you just take peoples word for it... you might lose your investments... POOF, like magic.
-Tim/Zombiestv-