hello welcome back to the channel and it's... it's colder than it looks even
though it's right in the middle of June This is the dad delivers vlog where I
try something new every day and I’ve committed to this about seven weeks ago
where the new thing that I tried is to buy Bitcoin uh using the PayPal app and I’ve come to the beach
and should I give you a quick pan? that... this is the amazing view
over here and the... the tide is coming in
really quickly so I’ve got to get through this as quickly as possible or we might end up underwater
hello sorry to interrupt but I’m just editing this video now and I’ve just noticed that I don't even
mention that at the end of the video we looked out to sea and there was clearly a ship in distress
there was a plume of smoke and like these flashing lights
can you see them there I don't know if I captured them but those lights look like distress
signals and you can see on this time-lapse footage that we... we don't know what to do
we're watching this so I phoned the coastguard I’ve never phoned the coastguard before in my life
I think other people probably did as well and I’ll try and zoom in sorry it's a bit wobbly
it's probably about two miles away from us I think but the smoke got worse and worse and it turned
out this boat had exploded and was being pulled to safety by two lifeboats
I’m looking at the news sites now and it looks like everyone involved is completely safe
even if they have lost their ship it's got absolutely nothing to do with
Bitcoin but I thought I should mention it because it happened at the same time and this is a vlog!
anyway back to the crypto up on screen now is... if you can
hear me over the crashing waves up on screen now - this is
what you can see on my PayPal app this is just a regular PayPal account
I’ve been doing this for six weeks now and I’ve spent 100 pounds every week
every weekend that was the plan to just put 100 pounds into cryptocurrency
and see what happens in the year and I didn't think we'd keep
going but here we are on week seven I think that means that I have spent 612
pounds and six pence on cryptocurrency this is what it's worth right now
it's on screen there and it's terrifying it's 378 pounds and 74 pence
I’ll flick up on screen now the headlines that have been in the news this week
cryptocurrency and specifically Bitcoin has done phenomenally badly
it has dropped like a stone just in the last week but I started this experiment about six weeks ago
and it's just gone down and down let me show you the two currencies
I’ve bought and show you how they've performed in the last two weeks
so this is Bitcoin - this looks okay
it's green - but that's just for the last 24 hours if I click on the one month button,
Bitcoin has dropped just in the last month 31% and that was right in the middle of the experiment
and I’ll show you what that that means for me financially in a moment
if I go back I also bought 100 pounds of Ethereum this was a few weeks ago and if I click on the
Ethereum button in one month the Ethereum I bought has dropped 45%
I put in 102 pounds... well, I spent 102 pounds and one pence on Ethereum
and that 102 pounds including fees is now worth an eye watering 57 pounds 66 pence
I’ve managed to nearly halve a hundred pounds in four weeks
what am I doing! but this is the point of the experiment
this is the reason that the rule is to spend 100 pounds a week over a year to see what would happen
with the Bitcoin alone I have spent 510 pounds and five pence
that 510 pounds is currently worth 321 pounds! it's like 180 period has just disappeared
from my life and from my PayPal account sorry the kids are playing with the dog behind me
so let's keep adding to this pot that keeps diminishing week by week
but it's time for our weekly look at the price because I’ll put the rule on the screen now
the rule is: in one week if Bitcoin goes down in the week, then I’ll buy some more Bitcoin
and if Bitcoin goes up in the week then I will put the 100 pounds into a different currency
let's press the one week button I’m terrified of doing this
there we go 30% the price of Bitcoin has dropped
30% since we last met which is good news
it means - this is the rule - Bitcoin's gone down so I will now put
in 100 pounds - another 100 pounds into Bitcoin let's uh hit the button and I’ll just type in 100
pounds and one pence and that's because of the PayPal fees
the PayPal fees go down from 2.3% to 2% if I go one penny over 100 pounds so I’ll hit next
and it brings up the... the... the purchase details
review and buy wow it's actually - I
mean the amount that I’m buying has gone up it says here you're buying 0.006 Bitcoin when I
first started this, the 100 pounds would buy 0.003 so I’m buying twice as much Bitcoin six weeks on
than I did right at the beginning so this should be a good thing right?
even though the value of my Bitcoin has just been going down the toilet
we've got a transaction fee here of two pounds I guess I’ll just have to hit the agree
and buy button there you go
you purchased 0.006 Bitcoin if I go back to the screen this is
the new value of all my cryptocurrency I’ve not done this before so...
so this is new territory for me but after investing spending or throwing away
714 pounds in seven pence that 714 pounds is currently worth 477 pounds
I’m committed I’m going to keep... keep shovelling in while the price plummets
I’m doing this all on just my regular PayPal account on the PayPal app
if you want to know how to buy cryptocurrency just using PayPal there's a video on screen here just
at the bottom there and if you want to know what my cryptocurrency is worth right now this moment
the latest video is up here on the top of the screen
I’ll just pan the camera out to sea...