Bitcoin 2012 London: Max Keiser

Max Keiser speaks "On Corporations and the American School of Economics", at London Bitcoin Conference 2012.

[@nutsbutdum]

The video I should've been watching 9 years ago!

[@ggabbay0]

This is still fresh 8 years later.

[@iamgoingfuckingmad]

These Bitcoin haters remind me of the CEO of Kodak when he said in the 90's "Digital Photography will never catch on" - strange thing to say because it was Kodak who invented the first Megapixel CCD , with Bitcoin I suppose you either 'get it' or you don't..... Anybody old enough to remember when the Internet was not around people had exactly the same attitude , "Why would people want to link their computers together ? What could they do , how stupid is that ! " Bitcoin is the Real Deal ....

[@shitcoininc9340]

you were right as hell

[@XducationAI]

@@shitcoininc9340 omg he was right

[@bekindeventothosewhoarenot1779]

Looking again in 2020 And crying out loud

[@aleksandrmerkulov9552]

"YOU SHOULD HAVE LISTENED!!!"

[@AllDayToyota]

Who's watching this in 2020 saying man I'm glad i got into btc in 2012

[@ronaldmilo7930]

Bitcoin has really stood its ground and would keep breaking grounds, investors sure knows how profitable it is now. My advice to everyone is don’t just buy and hold bitcoin, Trade it!

[@jeffreywalter8082]

Great idea👍

[@jeffreywalter8082]

Bitcoin has really been in the news concerning as one of the most profitable investment but I really don’t know much about it

[@griffinspencer5567]

Indeed bitcoin is really profitable and the most popular crypto asset. Its has over $1 trillion market cap and consistently growing in value, making it highly sought after by investors

[@judahrojas8212]

Bitcoin has proved beyond all doubt that it is worth generating wealth over a short period of time when done right.

[@tiaratate9225]

Yeah bitcoin trading requires expertise and experience to be able to make it big

[@dannydora1096]

At time of this presentation on 25 Sep 2012 BTC price was $12.30 US

[@adiintel1]

journalism and econmic experts on keyens side believe it will go down to zero but it keeps adding on zeros.

[@chocola95]

you guys all bashing bitcoins, I suggest you at least get one before you regret buying them below $100 1BTC

[@chocola95]

@@superspam8158 hahaha so good watching this 7 years later

[@---Snaporaz---]

@@chocola95 man , it was to early for me , I'm 22 today and now I get it, I also look with interest Polkadot and Chainlink , what are your idea of cripto world today ? What are you interest in even outside cripto world ? Bring me light

[@Niko-Suave]

You are a wise man. I wish i found this out in 2012. well better late than never right?

[@zootsoot2006]

Hope you're enjoying your millions! Legend.

[@LuficariusRatspeed]

Wow.. this is the first time I've heard Max speak where I haven't felt like tearing my ears out from annoying hyperbole. I wish he'd do this more often.

[@sivardbremaud888]

Looking at that in 2019

[@DirtyDeedsLLC]

How about 2021 when bitcoin hit 60k recently

[@Estado_Alterado]

@@DirtyDeedsLLC now mid 30’s after Elon’s FUD

[@inachu]

Dumping all your cash into bitcoin right before a total crash of the economy would be very good to do.

[@inachu]

@plsgoogle donttrackme i MADE 400% PROFIT

[@muhamadfazliehafizie7231]

Legend

[@TR-vl2nb]

Did you buy some your comment 9 years old?

[@inachu]

@@TR-vl2nb My other comment! I made 400% profit!

[@cobra60six]

Thanks for the info, I'm learning, peace

[@x111tian]

@Shepsu Tera Netchebmaa well u know bitcoin can be change for euro or dollar or any currency right??

[@Twinedog78]

Interesting talk by Max Keiser. I watch his show all the time on KZbin. Interesting what he says regarding parallels to gold and silver and bitcoins. I am still undecided about whether the rest of the population would accept bitcoin as a currency.

[@JonathanWaller0]

Great, great video.

[@leopgs3728]

In 2012 I thought I was killing it when I was contributing 30% of my income to my 401k. Fast forward 10 years… what a moron I was!

[@iamgoingfuckingmad]

In a hyperinflationary or hyperdeflationary scenario - one of which is now an absolute mathematical certainty - any tangeable will hold value..

[@filosofoeduardo]

Great argumentation.

[@Patiste96]

I luv this guy Max Keiser !

[@iamgoingfuckingmad]

Yes in fact you can - you can store your bitcoins on a thumb drive ... Try doing that with your bank balance .

[@sirwhale28]

Currency is only something that the two traders deem to have value and are willing to accept for something else.

[@smaragd_]

They would sort that out or even give you the answer if real chances for it to kick in get bigger.

[@RichardBoase]

Alright. I guess it's all a matter of perspective. The difference is that Bitcoin might only exist for a fraction of the time gold has existed as a currency, but that fraction of a time is still infinitely divisible.

[@alexcipriani6003]

That is a complete mischaracterization of what was happening with the chewing gum

[@SDS4BO]

Bitcoin has as much value (actually more) than any government fiat currency. The central bank currency is ALSO backed by nothing, but the advantage of bitcoin is that it is not subject to inflation, it is decentralized, easily transmitted without high fees anywhere in the globe. WIN WIN.

[@sjalq]

Money has value because it allows for transactions, is highly divisible, is very rare and for storing value. Gold does not have "intrinsic" value. It just happens to address the need listed above relatively well. That's why it emerges as money so frequently. Bitcoin addresses these needs even better. As for "scam" the source code is open you can trace every aspect of Bitcoin's workings. It is as transparent as anything can get. It is even more transparent than a gold backed currency would be.

[@mavericktamkin5782]

Good info tamkin riaz London

[@Rhino1188]

Please explain to me how you would carry on with normal life trying to buy the things you need in daily life with bitcoins....why shouldn't it be tradable in fiat money? money is money and it can be exchanged for any currency, why does it matter.....

[@SDS4BO]

Helicopter Ben Bernanke, what an interesting historical figure he is going to be. To imagine that we actually permitted guys like him to manage our affairs for us. UN Frickin' believable.

[@bfddr0x]

so does the Federal Reserve System

[@otacon451]

You should have heard Peter Schliff right after the 2008 Fall market crash! He was telling everyone to buy whiskey, guns, and precious metals lol.

[@TheAGCteam]

The Dollar isn't bound to gold anymore either. Its value isn't tangible either.

[@steboulrase]

How many Bitcoin Max got if he bought it at start?

[@muhamadfazliehafizie7231]

Freaking Legend

[@MWCstream]

than bank accounts and debit cards do not exist either, because they too are digital money. USD is digital, don't you know anything? They don't have to print is out of thin air, they can type the numbers into a computer and then send it to a bank. You cant do that with bitcoin, its secure.

[@colinmaharaj]

Max Keiser is to finance what Robert Lustig is to metabolic health

[@ttkddry]

the only thing holding up the $USD is the petro dollar system. The CHF - $USD exchange fluctuates wildly in value and there is no obligation that any of the two currencies can be redeemed by either government. You have faith in the US government to pay you back in gold since 1971? I don't see much difference with bitcoin....

[@SDS4BO]

Money, is defined as the most widely traded commodity in an economy, thus, bitcoin is not money, strictly speaking. But currency is a money substitute, and fluctuates in value depending on how well it continues to substitute. The thing holding up the Federal Reserve Note is only the faith and trust that it will work. That faith and trust seems to be diminished, primarily because of the actions of the central bankers and the reactions of those forced to use it.

[@KSASTAMPS]

I am totally in favor of alternative currencies, but the system needs to emulate the WIR system in Switzerland, which is the only alternative system that has widespread participation (15% of all businesses in Switzerland) and the only system that does serious volume ($1.5 Billion+ per year, or $20,000+ per participating business). This is an intangible credit system too (like bitcoin) but it is supported by mutual business promise to put actual value in & out of the system. Bitcoin lacks this.

[@JeremyCrow]

Silver is so undervalued, it's worth more than $40 an ounce. If you bought silver at $40, buy some more now that it's currently inexpensive. Dollar cost averaging. Lower your investment price per oz. You'll be glad you did a few years from now or sooner.

[@prismadew]

you could say the same about debit cards. it's the same thing. you wanna go back to only coins/bills?

[@anti-urbanizationdotorg5534]

IM MAX KAISER, and this is kaiser report, hahaha tahun 2021 baru nyambugn lagi

[@zelekuther7938]

Nice one Max.

[@wegivecoins2033]

kzbin.info/www/bejne/jHXaeGuKjs-Bq9k

[@RobertWilliam-yu8gi]

I don't understand, if we are running out of oil, then why is it so cheap?

[@RobertWilliam-yu8gi]

***** Mr. Putin is doing a great job in Syria and is still doing a great job.

[@warlordzephyr]

Because it is a better currency than the FIAT money we have now, so people are using it more and more.

[@kakkofan]

Bitahorse with a row of what is meant; for all the free advice: when you lift up in the air, and do not know why, do not fly too high. :) Bitkonia z rzędem temu, co rozumie; dla wszystkich rada gratis: gdy unosisz się w powietrzu, a nie wiesz dlaczego, nie lataj zbyt wysoko.

[@MWCstream]

You don't understand how quotation marks work, do ya?

[@iamgoingfuckingmad]

Anybody in Cyprus using Bitcoin during an extended bank holiday will not be affected. The Bitcoin network has no links whatsover to the traditional banking networks. Regarding power outage , if you are using a laptop or smart-phone then that would also be irrelevent. If the Internet goes down , then you cannot make any bitcoin transfers but that would also be true for online banking and ATM machines , no bitcoins could ever be lost during a power or Internet failure.

[@ikustudies]

yeeeeah boy

[@FireEyedMaidOfWar]

“… Your possession of these proscribed metals and or your maintenance of a safe deposit box to store them is known by the government from bank and insurance records. Therefore, be advised that your vault box must remain sealed, and may only be opened in the presence of an agent of the Internal Revenue Service. By lawful order given this day, the President of the United States. Franklin Roosevelt-March 9, 1933”

[@BenCooke419]

That 1000% came solely from news speculation and geeks at data centers mining bitcoins. That doesn't bother you? True that if you got into bit coins you're doing better than anyone in dollars, but that isn't saying much. You're trading the printing press for electricity consumption. When you get right down to it the only thing that backs bitcoin is the nearest power plant. Do we really need to encourage more power consumption on top of our already consumer based society? It doesn't make sense.

[@prismadew]

and hopefully more and more people will be able to get get micro-generated solar and become energy self-sufficient/self-reliant.

[@unimail1195]

What do you buy batteries with... who maintains the system... spare parts and replacement????

[@Sorlaize2]

It's a hybrid between the two, with full transparency / no need to trust anyone in particular. The drawback is that bitcoin is dependent on the rest of the global financial structure operating, and while dodgy methods are used, it's still unstable meaning the value of all bitcoins is unstable. If everyone said okay let's start over and redistribute BITCOINS in place of gold or silver or cash, using all the precious metals, then bitcoin would be all we needed, assuming sensible bitcoin creation.

[@yairbar-chaim2404]

He’s Satatoshi

[@Axeplay707]

bitcoin will be seen as impactful to the human race as the printing press.

[@yinzjagoffs]

Yeah, what's your point?

[@RichardBoase]

Everything exists in cyberspace.

[@MWCstream]

Good job schooling him, but i don't think you can teach many gas station attendants economics.

[@sirwhale28]

Well, gold is overvalued too. In the Inka empire, it had no value, it was only used to as a sign of worship of their sun god. It has value in our society because we deem it to have value...

[@FireEyedMaidOfWar]

“… All safe deposit boxes in banks or financial institutions have been sealed, pending action in the due course of the law. All sales or purchases or movements of such gold and silver within the borders of the United States and its territories and all foreign exchange transactions or movements of such metals across the border are hereby prohibited. …”

[@FireEyedMaidOfWar]

“By Executive Order Of The President of The United States, March 9, 1933. By virtue of the authority vested in me by Section 5 (b) of the Act of October 6, 1917, as amended by Section 2 of the Act of March 9, 1933, in which Congress declared that a serious emergency exists, I as President, do declare that the national emergency still exists; that the continued private hoarding of gold and silver by subjects of the United States poses a grave threat to the peace, equal justice, …”

[@nims60]

And what proportion of the world do you think needs to do this? OK for a niche market.

[@funkkyzenzei]

BC or gold > Fiat money

[@cobra60six]

1/- Bitcoin is created by "rewarding" private PCs that run the code, for "protecting and strengthening the algorithm" what happens in 2025 when the maximum number of coins are produced? Where then is the incentive for anyone to continue to run a PC to protect something for zero gain???

[@9thebear]

I'm liking Bitcoin more and more, and after Cyprus my bank balance is obviously not safe so whether I spend it on beer, silver or Bitcoin it doesn't seem to matter to me as it looks like the government will take the vast majority soon anyway. Might as well spend it now or withdraw it and stuff it in your mattress bank!

[@iamgoingfuckingmad]

Instead you could buy Bitcoins , wait until they go up 10 times in price , then use that money to buy 10 times more silver......

[@ramzystripling1245]

I hope you didn’t do that and just saved your btc

[@amagnonx5093]

I love gold and silver because they are money, and so is BTC. Durability - BTC can be copied many times, but spent once. Divisibility - BTC is easier to divide than gold. Portability - BTC can be stored on an RFID chip the size of a rice grain. Fungibility - BTC is always 100% pure, or its rejected. Store of value (flow/stock) - BTC will stop at 21mil BTC. BTC's properties derive from its digital nature, gold from its physical nature - the reason for the properties is not relevant.

[@NetiNeti25920]

Wise man :)

[@bottomboil63]

but why do clever and forward thinking people have to seek out bitcoin, same C sand FT people have had to find an alternative to paper money, gold, silver, other metals (unless they actually HOLD the metals in their hands). If it was all so open and unconspiritary (my word) then no-one would be looking for alternatives, it's not conspiracy theories and theorists, its survival.

[@MWCstream]

that depends on how you look at it. You can hold paper that allows you access to your bitcoin, but technically you can't hold bitcoin. Yes you can print out your wallet, everybody knows that, but i don;t consider it holding your bitcoin, because bitcoin is not physical its digital. Just like a debit card, you are holding the ability to transfer your money, but you're not technically holding on you your cash.

[@JeremyCrow]

Yep, that works too but if you want to diversify your savings, Silver is at an amazing price right now and is an excellent compliment to Bitcoin.

[@creamycurdy]

you cant filter a P2P system

[@FireEyedMaidOfWar]

“… and well-being of the United States; and that appropriate measures must be taken immediately to protect the interests of our people. Therefore, pursuant to the above authority, I hereby proclaim that such gold and silver holdings are prohibited, and that all such coin, bullion or other possessions of gold and silver be tendered within fourteen days to agents of the Government of the United States for compensation at the official price, in the legal tender of the Government. …”

[@MystiqWisdom]

This is pre-"fuck you money" Keiser

[@yutuboslaven]

I am all for bitcoin but what happens when the server of Mt Gox is shut down? --> bitcoin goes 0. Is it possible to shut down the Mt Gox? --> if they succed to dupe the Americans into the war on terror, they are also able to make look bitcoin-traders as a threat to the economy.

[@Sorlaize2]

meaning: back the value of each bitcoin to the appropriate fair share of gold/silver/etc so that each coin represents an equal share of the total. And only create new coins if there is more wealth to distribute (more gold and silver mined..) That keeps the value of the currency 100% stable at least. That's honest, at least, and it also gives you options about whether you want to trust a bank or whether you want to get out of the reckless investment game. Bitcoins would then represent wealth.

[@Sorlaize2]

I guess it just seems like too much to have to change the whole system.

[@DirtyDeedsLLC]

How about now? Lol

[@florin604]

Last price:$44.15926

[@dmb85x]

2019 price, $11200

[@peacemeal3196]

2020: $15,000 USD

[@BenCooke419]

You can bury gold and guns.

[@alexgorchkov3844]

9 years after, Bitcoin mined by using Volcano 🌋 geothermal energy 9 years from now, we trade aliens Bitcoin for their technology

[@MWCstream]

You cant hold bitcoins in your hand like gold, but unlike gold you can hold bitcoins in your brain/mind. If you remember your brain wallet password your money cant be stolen, unlike gold. Not talking bad about gold or silver just pointing out some pros to bitcoin.

[@TiredOldFart]

It will be as useful as bumping all your cash into the trash.

[@unimail1195]

Still think that?

[@KSASTAMPS]

Bitcoin is great except for two fatal flaws: 1. it is irredeemable, ie., no obligation by the issuer to actually take it back in exchange for valuable goods or services and 2. it fluctuates wildly in value. How can a currency possibly function if it emulates all the terrible features of fiat currency? The only thing that is holding up the failing U.S. dollar is it's legal tender status and faith in the government. Bitcoin doesn't have that.

[@unimail1195]

Not currency but store of value now.

[@BenCooke419]

Right. So knowing that, why the hell would you embrace bitcoin?

[@GiveMeLiberty221]

Gold has an intrinsic tangible value, and who give a shit what it did not do in the Inka empire. I understand why and how things have value. Something in cyberspace does not. If the electricity goes out your done, it's just as simple as that. There are many other issues I've posted I think on this page that make my point. Just keep you info on a thumb drive. Good Luck!

[@UltraPic]

It is the real deal, it's just not the same deal max sold to the frightened sheep for a massive profit.

[@chocola95]

right, just like when the govt confiscated your gold during the great depression... during a "catastrophe" who knows what happens. get bitcoins, gold and guns!

[@richystran1]

I reckon if you listen to Max you will have the last laugh. Time will tell.

[@maesitos]

If you only understood BSV is Bitcoin, you would feel almost like in 2012 all over again.

[@creamycurdy]

Im not I rather stack the fine silver, but imo Bitcoin has some interesting attributes, yes they are in control but as i said before only way to shut Bitcoin P2P service down is to shut the whole internet down, which would ruin them just as much as it would to bitcoin just pointing that out.

[@MWCstream]

"Bitcoin is a ponzi scheme, you can't fool me." no one needs to fool you, you fool yourself just fine, without anyone else help.

[@lifehope4603]

Don't understand how btc can work?

[@jamesbond-pw6ky]

We should remove all the images and sculptures of saints from churches and cathedrals. Replace them all by one sculpture or painting....and let’s worship Saint Max Keiser....and let’s make Stacy Herbert, virgin Stacy.....hallowed be thy name

[@GiveMeLiberty221]

First, you as well as I work everyday for someone, but even if we don't we are paid in a fiat currency. Do you think your or others employers would change to bitcoin over the fiat? Why would bitcoin trade for a useless currency (fiat) What will Bitcoin do with that currency since it is worthless? Who is really behind bitcoin when all control of currency right this moment belongs to the FED/IMF/BIS or Roth/Rock and other banks. Taxes are in Fiat? You have to take Fiat at the Root!

[@brishtiteveja]

Read wikipedia on ponzi scheme and comment then..

[@MWCstream]

"Economists like inflation" not real economist, Economist that know what they are talking about are free market economist, Austrian economist. Printing money out of thin are is the biggest scam ever. Cryptography is the way to go.

[@FireEyedMaidOfWar]

@creamycurdy: Nope, as they control the internet technically and so will simply filter out any bit coins they want.

[@GuidelineSalt]

If you worry about unlikely catastrophic events that will collapse the world as we know it, and use that to base your financial ventures, you'll never get anywhere. Bitcoin is a much safer investment than stocks/bonds/gold/fiat, what have you. I have already gotten at 1000% ROI through bitcoin.

[@CaribSurfKing1]

Max told people to buy Silver above $40 oz over 2 years ago! Those people are now down 30+% on their investment! He was selling his own coins over $40 oz! Just be careful!

[@BlazingBigJointz]

Well fiat and bitcoins... neither are for me. You seem to spend a lot of time defending this form of fiat currency. Good luck with that.

[@cobra60six]

Or we end up with yet another group of superelites that have all the bitcoins, holding the other 99.999% ransome just like we have today Unless the quantity of bitcoins can continue to grow in some form, with the population, or be subdivided into smaller portions .5 bitcoin .05 bitcoin etc the way forward is clouded in mystery and most likely catastrophy so far as I can see.