Watch part 1 of this interview: kzbin.info/www/bejne/ppCkc3eYq7mNZpY
@evilzzzability3 жыл бұрын
RR is one of the few pro-gold analysts who gives a fair assessment of things and who I can bother to give my time listening to
@doncressco3 жыл бұрын
David you are one of the best at your craft. R. Rule is a living legend.
@AlexandreEdison3 жыл бұрын
Rick Rule is my favorite guest. Relax, knowledgeable, polite, keyword sentencing...
@eSentrik3 жыл бұрын
Rick Rule is an instant click!
@frikandelspeciaal14313 жыл бұрын
+1
@turbofanlover3 жыл бұрын
Rick Rule is a slick-talking car salesman.
@davidkoziar18113 жыл бұрын
I like Rick James more
@owenbenjaminshapiro62853 жыл бұрын
RICK RULE, BITCH!!
@davebellamy48673 жыл бұрын
I thought you wrote "instant dick."😂🤣🤪 Rick is always a good listen.
@adnansingh76303 жыл бұрын
BlTCOlN is also the future now, less than 1% of the world population is holding it, If you’re a btc maximalist and you spend a lot of hours watching podcast, learning, reading, and trying to understand. If you’re here, you’re early and you deserve it.
@kynchan33323 жыл бұрын
So are so many other cryptos. When tenants offered bitcoin 9 years ago in the absence of cash I had to take the bitcoins without knowing what they were or what they did.
@creditplug23423 жыл бұрын
Kyn Chan When I first heard about it, I was like everyone else. Ridiculous and crazy idea. Years later it’s still around, my regret is not getting in then.
@kynchan33323 жыл бұрын
@@creditplug2342 Dumb luck on my part. I thought I was getting cheated again with another none paying tenant. I've been a terrible landlord being especially good at choosing awful tenants but luckily the bitcoins were a saving grace and the properties appreciated far more than any rent I ever go out of them.
@miamonikakoch66193 жыл бұрын
Hi Adnan how can you link me up. Interested in knowing more. I recently started reading about it.
@adnansingh76303 жыл бұрын
Maria Westbrook I’m privileged to be working with a US top financial consultant John Augustus Godfrey Jr. You can look up for John on google.
@xtctrader14673 жыл бұрын
Technically speaking, applying the Fibonacci Retracement to the Spot Price from the March low to the August high. The low hit in late November was a 50% pullback. So, in my opinion the next leg up has begun.
@markbrbot86483 жыл бұрын
That's not pricing in a second market potential crash tho
@xtctrader14673 жыл бұрын
@@markbrbot8648 obviously, since I was speaking from a "technical" basis as I stated.
@astralpx3 жыл бұрын
Gold equities are showing this.
@monte41503 жыл бұрын
Ricks the man! His interviews are your best.
@InspireNewGeneration3 жыл бұрын
Great I was waiting for part 2.
@Prash1c3 жыл бұрын
Golden content! Thank you! :)
@ampiciline3 жыл бұрын
I learned a NEW concept from Rick today : concept of " Recycle Ratio " 9:58
@gfcardi3 жыл бұрын
David: Smiling. Rick: "Deficit spending, which is the theft by my generation of your generation's wealth" David: Not smiling. (edited as per Brandon K's spotting of my erroneously referring to Rick as "Doug"). -gfcardi
@brandonklosterman98803 жыл бұрын
Who's Doug?
@gfcardi3 жыл бұрын
@@brandonklosterman9880 Ah, you got me. I was listening to a Doug Casey podcast right before this so I mucked up the names. I've edited it to indicate "Rick." Thank you!
@brandonklosterman98803 жыл бұрын
I was pretty certain you had Doug casey in your mind lol they are both legends in the sector no doubt.
@gfcardi3 жыл бұрын
@@brandonklosterman9880 Yeah, he's one of my favorites. I first learned of him while watching a Kitco podcast with Doug and Rick Rule, and it was one of the best...I think it was a few months ago. Thanks!
@alexanderellwanger93073 жыл бұрын
I enjoy: if my memory serves me well"
@BatmanBoss3 жыл бұрын
Kitco! 🏆🏆🏆
@kenporonin13 жыл бұрын
Gold facing an existential crisis......? Quite a statement for an element that has been treasured for 5,000 years. Those who doubt gold have never held a gold nugget or coin in their hands. Feels very different than staring at your bitcoin wallet digits on your smartphone. No crypto will ever replace the real, tangible asset that is gold or silver.
@izabari3 жыл бұрын
So would you at least entertain the idea of diversifying between the two?
@rickrule55173 жыл бұрын
@@izabari of course, complimentary asset classes
@Marcelo-Caruccio3 жыл бұрын
Lots of things change in 5000 years. Salt used to be a monetary store of value sometime. Im afraid gold is going down the hill in the next decade replaced by BTC.
@cosmosaic81173 жыл бұрын
@@Marcelo-Caruccio LMAO you're an idiot. Gold has been thru every single economic condition, every single fiat currency, and every single civilization in all of mankind. It's fine to like Bitcoin but this arrogance is absolutely absurd.
@cosmosaic81173 жыл бұрын
@@Marcelo-Caruccio Have fun when there's an internet blackout and you will see why you're stupid af to overlook Gold. Better get yourself a HAM radio for your Bitcoin which only will send your BTC about 12 KM. Might as well just have Gold.
@nomadicfenceman5093 жыл бұрын
He put in perfect perspective the bitcoin/ gold comparison. So simple once you hear it
@Scottiedowawa3 жыл бұрын
Would like to hear his opinion on the Australian miner Bellevue Gold Limited (ASX: BGL). Has been pretty resilient to the spot gold price.
@andrewfallon27193 жыл бұрын
His way with words is awesome
@granvillestout26813 жыл бұрын
So, what he said is that gold will go up if it does and down if it does, or it could stay where it is.
@WhiteCollarWarriorWallStFraudE3 жыл бұрын
Thank you both. Always a “check up from the neck up” for me. Although I stack physicals, I trade other stuff for fun. An ounce of gold in 1820 bought a medium quality custom suit as it does in 2020. Agree with Rick Bitcoin is interesting, but it’s store of value is questionable. It is also dependent on too many man made variables, seen and unseen, i. e. eventual Fed coin outlawing competing crypto’s. Don’t shoot the piano player, I’m just playing a song ;) What man creates, man can destroy.
@xdc863 жыл бұрын
This guy is a legend in his way of thinking
@donready1193 жыл бұрын
Fantastic interview. Thanks
@izabari3 жыл бұрын
I have both physical (no paper) gold and crypto. Who else is setup like this?
@harrymaguire70053 жыл бұрын
Translation of what Rick Rule was trying to tell you: Buy EMX Royalty stock.
@classicalmusicvideos12763 жыл бұрын
Take a drink every time Rick says"with the ease with which you or i exhale!!!"
@tonyh13453 жыл бұрын
I’m hammered
@23bonsai233 жыл бұрын
I'll have had three drinks then in my life....... not much of a drinker eh?
@23bonsai233 жыл бұрын
.... switch that to "Liquidity" and you may be on to something
@coryg1213 жыл бұрын
“Which is to say”
@gfcardi3 жыл бұрын
@@coryg121 Be a contrarian, or be a victim.
@olivergrah46293 жыл бұрын
Great perspectives!
@matthewmorgan71063 жыл бұрын
Definitely easier to listen to than Jim Rogers.
@minecoinseveryday74073 жыл бұрын
thanks for this video
@spotshortmanipulators47213 жыл бұрын
Rick Rules The Rules ...Smart Guy
@seven8n2353 жыл бұрын
Much better today than yesterday!
@adamski46783 жыл бұрын
Are we thinking gold is realistically a medium of exchange in today's world? There's going to have to be some medium of exchange digitally for the digital world with the inherent money properties.
@JiibarO3 жыл бұрын
We really don't use the brains we've been given. We give monetary value to anything we deem fit. Cryptos are another example of this human flaw. GOD BLESS🙏🏼
@rons53193 жыл бұрын
If I had a penny for every hour wasted by people BSing about gold I'd be a trillionaire many time over.
@ikust0073 жыл бұрын
More about Bitcoin :))
@gfcardi3 жыл бұрын
You'd also be dead. One trillion dollars = 100 trillion pennies X 1 hour/penny = 100 trillion hours = 11407711613.039124 years. So, how you feelin', great great great great great great great grandpa?
@rons53193 жыл бұрын
@@gfcardi What a minute. There can be multiple people talking about gold at the same time. And that seem like hundreds at least. They'd be ahead of it--if they just went prospecting for gold.
@gfcardi3 жыл бұрын
@@rons5319 lol, good point. But since he never stated his assumptions, the logical starting point was to assume that he would need to verify all of those hours, and whether they were in parallel or serial he would need to verify them as "wasteful" by listening to all of them--which he can only do in serial mode.
@PeterAcrat3 жыл бұрын
Thank you 👍
@netrapaharai21853 жыл бұрын
GOOD, Analysis
@ikust0073 жыл бұрын
I would dream to believe that in 2-3 years they will go up but ...
@Justin-pu5pb3 жыл бұрын
Man this guy is a gem!
@jameslau23513 жыл бұрын
Bitcoin is replaceable with bitcoin 2.0, 3.0 ,4.0 Gold is Aways Gold, Au element 79 Halving of bitcoin every 4 years makes it scares, but gold according to miner's reserves reports we are in roughly last phase of 50,000/250,000. When gold mines depletes in 15years don't expect reserve banks or some Indian or Chinese grandma selling to you the gold they own.
@violentshoes46853 жыл бұрын
Elon musk will be mining the gold on asteroids by then, driving golds price to irrelevance.
@jameslau23513 жыл бұрын
@@violentshoes4685 True, but it cost now only about a 100mil to sent a person to moon
@clarissemoustache8383 жыл бұрын
Except the S&P500 is a dollar backed asset.
@Minamina-hr2xs3 жыл бұрын
Gold is gold is good the fed is crazy.! Thank you thank you.
@dancampeau19633 жыл бұрын
I wish the housing market would decline, but that would imply raising interest rates. We don't want that.
@davebellamy48673 жыл бұрын
I like Rick's windows. Only very thin people can get into his house and steal his gold.
@ikust0073 жыл бұрын
At 6:05 the commentator lost me because he is referring to a past that was in pure balance for the last 1000 years . The Digital Era is totally something else . I am a stacker by love . The miners have been my Weakness.
@atapene3 жыл бұрын
Yes the invention of the internet would seem to have changed things, and to ignore it would seem a bit naive. Given this video and all our discussion are on the internet, which has changed our lives so much we just forget about it
@billpetersen2983 жыл бұрын
It’s a strategic asset. Remind your PM, not to sell Arctic gold mines to China. (And Arctic sovereignty)
@georgeemil36183 жыл бұрын
Gold to $2500 -$3000 by the end of the year?
@brian6x3 жыл бұрын
end of 2021
@gavin13423 жыл бұрын
Which year?
@JohnThompson-hc8bd3 жыл бұрын
We will see.
@astralpx3 жыл бұрын
Jaguar has been strong.
@bradleyjordan53653 жыл бұрын
Gold bebeey !!!
@hossser82653 жыл бұрын
Rick Rule is one awesome possum. I read that some countries achieved quantum supremacy. I guess that makes all crypto trash. Gold and miners are the time tested inflation hedge.
@maxvivendi81113 жыл бұрын
He talks too smoothly ...
@cris4713 жыл бұрын
Who cares !!
@catxnc3 жыл бұрын
Rick, thank you so much for using that nose hair trimmer your family gave you for Christmas last year, and I say this as a man whose nostril bush can only be affected by the latest week eater.
@rachelgooden99813 жыл бұрын
Thought he was gonna say bitcoin
@MrMolecularscientist3 жыл бұрын
Shit interview. He just lets R Rule ramble on. Specifically Rule's statement/argument that people won't/don't use Bitcoin to buy coffee is: 1) false, and 2) a terrible argument --- people don't use silver or gold to buy bitcoin either. ??? The subject was about 'investment' not use as a currency. But of course, the interviewer doesn't have the balls to call him out on that statement.
@JamesBond-vg6wz3 жыл бұрын
RESET - 6uild 6ack 6etter - 666😈
@GG55-L3 жыл бұрын
Bla-bla-bla
@galaxydiscounters33443 жыл бұрын
What the hell dirth? Lol
@rickrule55173 жыл бұрын
shortage, scarcity ( dearth)
@galaxydiscounters33443 жыл бұрын
@@rickrule5517 there is no dirth in your vocabulary Rick lol that’s so awesome of you to expand mine lol cheers and merry Christmas! You and Erick are absolute go 2s for no BS honest opinion based on reasoning. Ps. I’m all in on Pute gold mining and Discovery metals. Thanks for helping me to hold through the down swings Rick :) your my rock lol
@galaxydiscounters33443 жыл бұрын
@@rickrule5517 and still miss spelled dearth lol
@eventhisidistaken3 жыл бұрын
He's talking about Dirth Vadir.
@galaxydiscounters33443 жыл бұрын
@@eventhisidistaken Lmfao that make more sense hey
@fits19663 жыл бұрын
Ignorance
@susheelamariappan22953 жыл бұрын
😃🙏
@duudleDreamz3 жыл бұрын
The real flippening has begun: From Gold ($10Trillion) to Bitcoin ($0.3 Trillion). Bitcoin is to the computer-age what Gold used to be to the stone age (plus a lot more.)
@bali4043 жыл бұрын
The argument of Gold being 5000 years old just makes me sad seeing how outdated these old ppl are. Just remember that the iPhone is only 13 years old and you will recognize the old/value fallacy
@davidkoziar18113 жыл бұрын
What's wrong with that point of view? I'm not old and I'm able to see the value of having physical precious metals. Look at the gold chart for the past fifty years. Notice the trend?
@rickrule55173 жыл бұрын
the Iphone has utility
@rollcageeight58353 жыл бұрын
Read the book Antifragile by Naseem Taleb. It covers this better then a comment section
@eventhisidistaken3 жыл бұрын
So don't own any then. No one cares. I don't own gold because I think someone will buy it from me for more next year, I own it in case I'm still alive when the dollar goes Venezuela. Could bitcoin serve that same purpose? Maybe. But also, maybe not. I own a small amount of crypto in case I'm wrong - small enough that I won't jump off a building if it goes to zero, but enough to finance an emergency exodus across the border if all hell breaks loose and I have to cram the Ledger up my backside as a back up to the back up of being robbed of everything else.
@Minamina-hr2xs3 жыл бұрын
You need a woman as the host.. Or some kind of food in the show.
@rugrad983 жыл бұрын
This is hard to watch. Rick is too monotone. I’ve had to rewind this a few times because I checked out.
@patted443 жыл бұрын
Pretty smart guy but a little too pleased with himself!
@Peter-kg8dy3 жыл бұрын
Chris, jealousy isn't a good look.
@turbofanlover3 жыл бұрын
Gold is yesterday's news, man. It's the past.
@rons53193 жыл бұрын
Gold's main threat is common sense. Gold is in a bubble like all other assets--only bigger. No other asset has gone 6x since 2002--only gold. Gold is only supposed to follow real inflation. Inflation is not even close to 600% since 2002. If you want to get 25% on the dollar for your hard earned money--buy gold. As for me, I never NEVER buy bubble assets!
@Peter-kg8dy3 жыл бұрын
Based on what an oz of gold can buy throughout history, it's price makes sense, in fact looking at M2 money supply, it should be higher. What are your thoughts on bitcoin? you must think that will be crashing any time soon.
@Chamaaak3 жыл бұрын
The Nasqaq did x6 since 2002. Amazon did x238 since 2002. It took me 2 minutes to find this. If you look longer you're gonna find a lot more crazy assets rise. But none of them was backing the dollar before. Because none of them is money, and money can go very high when currencies are being printed by trillions. That's the way i see it, maybe i'm just blind and gold is a bubble
@Reasonist3 жыл бұрын
Gold is simply reflecting the psychotic nature of the fiat market. It is not gold fluctuating by a factor of 6, it is the debasement of fiat by such and gold is the canary in the coal mine.
@davidkoziar18113 жыл бұрын
@@Reasonist Nicely and eloquently said!
@eventhisidistaken3 жыл бұрын
In 1932, gold was worth ~$35ounce (after the US allowed gold prices to float). So it's gone up by roughly a factor of 51 since then. In 1920 the median hourly wage was 40 cents per hour (I intentionally avoided both the roaring 20s and the depression crash for wages) . Today, it's around 25 dollars per hour. That's a factor of 63. Gold has gone up at a rate, conservatively, quite a bit less than wages in the past 100 years. In 2002, gold was at the bottom of a decades long bear market, so that's not a good measuring stick for whether or not it's overvalued. I intentionally chose a measuring stick that penalizes gold and benefits wages, and by that ultra-conservative measure, gold is somewhat undervalued.
@adriaticbatman3 жыл бұрын
What a dumb comment on buying coffee with Bitcoin....lets see what happens when you go to Starbucks and hand them a 1oz Canadian maple Leaf? Neither are useful as a daily use currency....but both are MONEY....with Bitcoin have advantages in easier holding, transfer, and liquidity.....
@davidkoziar18113 жыл бұрын
He does have a point. But to give you ammo, once BTC hits a saturation point, you'll see much more stable prices. As of now, it still has a ways to go.
@monkeyrater3 жыл бұрын
Its not a dumb comment. Cryptoheads need to decide exactly on what use they think it should be used for. As a store-of-value (a commodity) which is what its used for now which means it has an unstable price in relation to fiat currencies. A medium of exchange, which the glacially slow hash rate prevents it being used for anything at a consumer level. Crypto is being used already as an alternative currency, but its not taking off because it offers nothing that isnt already being done with conventional fiat currencies. Yes if the dollar crashes then crypto and precious metals will become very valuable, until then its all hype.
@adriaticbatman3 жыл бұрын
@@davidkoziar1811 Exactly...you can not have stability when it is still climbing a wall of value. When BTC reaches market cap par with Gold it will have the VIX of Gold...and when it reaches Bonds Market cap, it will be boring...but by then those that hold will keep ahead of FIAT devaluation.
@davidkoziar18113 жыл бұрын
@@adriaticbatman If it gets to that point, Max. Maybe it can but BTC requires a huge influx of capital and I don't see that happening anytime soon unless there's a black swan event (ie. The Martians have landed!) 😉
@kennethadams13983 жыл бұрын
Really like him... pronounces ‘cup of coffee’ better than anyone I’ve ever heard and repeated it for good measure. Great interview 👍🏼
@Prash1c3 жыл бұрын
To analyze an analyst = anlayst meta-analysis. You just created a new field of applied research! Study one: People who are capable of pronouncing "cup of coffee" perfectly are probably very capable, thus, their insight on gold is golden. :D
@TXLionHeart3 жыл бұрын
@@Prash1c I wish I could insightfully comment on your magnificent comment, but I have no such comment. Perhaps that's a commentary on the nature of comments today, but I'm not a commentator who can comment on such things... Nonetheless, perhaps your comment itself may mark the commencement of insightful comments by awakening commentators from their figurative comas, and commence the age of quality comments. Regardless, even if your comment cannot commandeer the minds of dull commentators who continue to be complacent with their commentary, I commend you for your comment; I am completely content with the content of your comment alone.
@Prash1c3 жыл бұрын
@@TXLionHeart thank you for commentatering comments on my comment.
@concernedpatriot93143 жыл бұрын
Congratulations to everyone who is a proud owner of Precious Metals, after all they are precious and will make you Rule like Rick ! Seriously the metals are about to be THE ONLY GAME IN TOWN....🎉💰😎🍿
@turbofanlover3 жыл бұрын
That's not what the mining stocks are saying. Stay tuned.
@roccoforte68893 жыл бұрын
It's an absolutely very well devised and naturally thought financial insurance policy at a certain point the trend will be roaring and that's the key point and equities will catch up to the demand the physical metal which will be peaking then
@stevegaspar3 жыл бұрын
Love PMs but the uranium sector is not to be passed by!
@stevestecenko79803 жыл бұрын
@@stevegaspar Yeah, sell more "rope" to China, you greedy fool. I guess if there is a war, and some of that Uranium comes back to us one day, the millions of people who lose everything will know Exactly who's houses to go to with the pitch forks and torches. I guess you aren't factoring that in , too damn greedy.
@WisdomIsPrecious3 жыл бұрын
Rick Rule part II: Return of the Rule
@pkl88113 жыл бұрын
it will be overbought at USD 18,000
@homeacres94543 жыл бұрын
Per oz?
@davidsanderson59183 жыл бұрын
What a clear, articulate and measured guest this guy is! Prefer him to those ones that come on ranting and rattling on. Looks like he collects Second World War helmets too. Good investment.
@johnwicksfoknpencil3 жыл бұрын
The only realistic “threat” to gold is silver.
@yachinisrael17643 жыл бұрын
Bingo silver is gold on steroids the most UNDERVALUED ASSET on the Planet the crime of 1873 the demonization of silver before the gold standard was put into existence
@12InchesUnBuffed3 жыл бұрын
even John Wick's pencil is worth more than bitcoin
@johnwicksfoknpencil3 жыл бұрын
@@yachinisrael1764 Chris Duane would be proud
@johnwicksfoknpencil3 жыл бұрын
@@12InchesUnBuffed 😂
@monte41503 жыл бұрын
@@johnwicksfoknpencil Copy that! 👊🏻😂😂😂😂
@massmedia54623 жыл бұрын
Thanks for calling it what it is, "Counterfeiting" and "Theft"... the FED's overreach this time has resulted in an exponential amount of individuals finally seeing it for the Criminal Cartel it is.
@xDDufiosy3 жыл бұрын
how do i know gold is a safe haven asset and bitcoin is not? Central banks own gold, the average investor is speculating on bitcoin.
@atapene3 жыл бұрын
Central Banks will also soon own junk bond and any old stocks most probably. Look you don't need to pick a side, it's not like the election. You can stack gold and btc and benefit from both
@xDDufiosy3 жыл бұрын
@@atapene i agree you can benefit from both, but for different reasons. I would encourage people to ride the BC high as a speculative asset and sell at the bubble peaks. CB's are holding gold, but have junk bonds for different reasons. CB's around the world repatriated their gold for a reason. Comparing gold with junk bonds is disingenuous at best.
@nikkion21403 жыл бұрын
@@xDDufiosy Well put.
@SpencerCampbellSG3 жыл бұрын
If you know nothing about the precious metals industry and would like to invest just follow Rick Rule and the Sprott team, they've got you covered!
@bp56623 жыл бұрын
Try your damnedest, but you can't stump Rick Rule with a commodities question. You can't even get him to give a less-than-brilliant answer. Next time he's on, ask him something profoundly deep about precious metals investing. Something like, "What would you say is the number one factor that leads an individual to gold, and what creates a gold bug?" Also, "What are gold bugs to do AFTER this final bull run of an era that you see coming?"
@citycams-fc3 жыл бұрын
Rick Rule always win.
@cris4713 жыл бұрын
David, you are the best, by far !! You ask the right questions, keep it up !!👍🏻👍🏻
@jeremyrobbins90643 жыл бұрын
Only one choice in this world matters: 1) Will you build YOUR kingdom and serve yourself as you prop yourself up. 2) Will you serve God and submit to His Kingdom. Serving others than yourself. Get to know Jesus before it is too late.
@tedpert87863 жыл бұрын
Thanks to Rick rule that’s always available to teach everyone what it takes to be in pms and survive!patience is of essence!
@jaywhoisit48633 жыл бұрын
So where can we get Rules junior list?
@ABFANews3 жыл бұрын
Nice information
@pkl88113 жыл бұрын
BUYING MORE BARRICK FOR 2021
@mrmayhem35273 жыл бұрын
Hi there I'm new too this but I want to buy Barrick Gold .can you help please.
@teknomonk34233 жыл бұрын
Excellent discussion, thanks. I love the the crypto volatility analogy, simple and perfect.
@darrenlewis89183 жыл бұрын
My small cap miners are all 30 to 50% down since September .
@gfcardi3 жыл бұрын
Rick would say you should rejoice in their decrease as it is a buying opportunity. However, he'd also say that you have to do your HW on the quality (and value) of those miners.
@secretsquirrel67183 жыл бұрын
Host: So ah, theres risk and oppurtunity for all. Wow, how insightful. It reminds one that a good host really adds to an interview...
@DVNDVN113 жыл бұрын
he seems like a great guy. i only have 1 share ggp, loving it, i possibly need to start finding a few others
@TheGilbalfas3 жыл бұрын
Rick makes me feel smart for investing in PM's. So well spoken and intelligent. I got his appraisal via email and it helped me pick between 2 stocks. thanks sprott
@TroyWilkinson9783 жыл бұрын
Same here Gil. Very insightful reply from Rick.
@Silverhands3 жыл бұрын
The first rule of bullion fight club is Rick Rule...
@paulrath77643 жыл бұрын
How do we find out the 45 junior names on Rick’s shopping list?
@BE-lz8yf3 жыл бұрын
I don't understand how people have faith in bitcoin long term; are they aware the network can only process 4-7 transactions per second? It would take over 10 days (best case scenario) to process a measly 10 million transactions. I haven't been able to disprove the possibility that a motivated organization could choke the network with valid transactions, pushing settlement times high enough to kill bitcoin. Or that could simply happen from wide-scale public adoption. Is there something I'm missing? If few individuals actually hold bitcoin and the average person invests in it through exchanges or derivatives it could work for a period of time. Like gold. But there's just too many technical vulnerabilities for bitcoin to hold up in my opinion. I find it ironic that people who tout it as the future are omitting that functional quantum computers would turn bitcoin's cryptography into a wet paper bag. If anyone can point out any flaws in these concerns, I would appreciate it. I'm just trying to come to an unbiased, logical conclusion
@atapene3 жыл бұрын
You have to consider the whole crypto industry. The narrative of bitcoin is not to buy coffee with... You don't use gold for that either. It's as collateral, like gold. There are stablecoins and other cryptos which can handle all those transactions, for that utility.
@atapene3 жыл бұрын
Literally, if you have a piece of gold to Starbucks they would have to check the price of gold etc in just the same way... Frankly it's a childish argument to make, Rick is normally fairer than that
@atapene3 жыл бұрын
For quantum.... That is a bit like saying we may as well stop investing in Tesla because hyperdrives could make them obsolete in the future
@BE-lz8yf3 жыл бұрын
@@atapene I never indicated I believe bitcoin can function as a form of daily payment. In fact, my original comment indicated I believe that's impossible, as the transaction speed required to support that type of behavior is impossible. Your comment about hyperdrives is illogical. First, let's not use an equities comparison to make a point about reserve assets. Secondly, hyperdrives don't exist and there are working demonstrations of quantum computers. All you have to ask yourself is: will computers be exponentially more capable in the future? If you believe so, then there will inevitably come a day when bitcoin will be worthless. I don't know when that is. I think what you're trying to argue is that there will always be innovation and disruption. But If the innovative and disruptive technology is already obsolete then it's just speculation. Which is fine, speculating on bitcoin these past few years has been very fun.
@BE-lz8yf3 жыл бұрын
@@atapene Do you have any thoughts on how easy it would be to choke the bitcoin network? Does that concern you? If you had to wait 2 years for your bitcoin transaction from your Ledger to your favorite exchange to settle, would that not shake public and institutional confidence? If you needed to liquidate some of your 'assets' in an emergency, would 2 years cut it? These are the concerns I have. If just a small amount of the population as well as institutions and governments used bitcoin as they do gold, the transaction times would be impractical. Any group with enough resources could delay settlements by years. What would that do to a bitcoin ETF? What would that do to pension funds that have replaced or offset their gold weightings with bitcoin?
@Steve-gn4hk3 жыл бұрын
Top 3 Kitco guests 1) Rick Rule 2) Rick Rule 3) Rick Rule
@Prash1c3 жыл бұрын
Woo! :D
@jayk40103 жыл бұрын
Rick, pls share your shopping list 😊
@rickrule55173 жыл бұрын
available to clients
@Joel_G_NZ3 жыл бұрын
Don't bother doing the rankings thing, he won't get back to you
@spg777773 жыл бұрын
Zecharia Sitchin. an author... has done some interesting research into the prehistoric relationship between man and gold. Check him out. )
@Thiny19913 жыл бұрын
Anyone who would dwell on 1987 crash and assign historical significance to that crash may want to check out Adam Smith’s book the roaring 80s ...
@jossandman3 жыл бұрын
Lack of exploration means tightening supply, higher prices. If this applies to silver also concurrently with a spike in demand that could be nice.
@TT3TT33 жыл бұрын
👍🌠 Buying opportunities 🙂 👍 Interview ended too fast.