Is the Future of Money Gold, Crypto or Fiat? - Jim Rickards

[@TheJayMartinShow]

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[@TheFickow]

@@arnaudx2754 why he dosent see bitcoin viable in the Future long term. Efficiency energy stand point. Proof or work Just isnt working from energy consumption point. If 4k is production cost of btc and the price is at 6.5k thats a 1.5k profit when miner sells. After the halving the cost of mining will double as I understand it if it halves the rewars so 8k mining cost. Would reqoiure a price above 9k + to make it viable...

[@TheFickow]

@@arnaudx2754 when stablecoins get banned the reign of bitcoin is over. Since if I were a whale, I could sell 10.000 btc push the price down or lets say 5 guys do that sell into stable coins market tanks 5% stable coins dont tank 5% and when it hits 5% down I Buy out of stablecoins into btc pump the price. Rinse and repeat. Btc maxis whales could do that Just coordinated manipulation of price and whole crypto market follow btc...

[@FormueFokusTV]

The awful truth is that fiat was backed by gold untill the 1970's when Nixon got rid of the gold standard. Now gold is worth 4X more than the dollar if it has to be backed by real gold again. We just lost 3/4 of our purchasing power in relation to gold and yet nobody complains. The system is rig.

[@rainbowmusic274]

Very Interesting...Being that no currency on the planet is currently backed by gold...If one country re-establishes the standard...who will follow...and even more important...who will not be able to follow!

[@rof8200]

Gold will allow countries to still use Fiat. Cryptos will effectively kill Fiat.

[@jeremygood3246]

Bitcoin is the future, investing now is the best way to financial freedom

[@peterfaulkner8391]

There will be no cash in the future only digital currency be wise and invest your coins

[@bryandigi4289]

Bitcoin is nice. XRP is better.

[@calliegal235]

Mr. Rickards, thank you so much for the interview with Lynette Zang, whom I watch almost everyday. I have purchased the quartet series, and The Mandibles. I'm looking forward to reading all of these. My dad passed away in 2015, and we found later his little note in pencil, "The Death of Money." My mom passed away in 2018. There was a considerable amount of gold and silver coins in the house when she passed away, which my father had acquired. He told me once, the way to see what the inflation really is, is to check the price of gold per ounce. He understood inflation very well. I always enjoy seeing your interviews. Thanks so much for your work!

[@mikeporro3311]

I used to watch Lynette. I e-mailed them about setting up a portfolio for me. Was called by a very friendly salesman who spent at least an hour BSing about the economy. But when we got down to business he wanted to sell me numismatic coins. I declined. He kept calling and e-mailing me. Numismatics require knowing wtf u are doing or u will get hosed. They tell u they are the experts and will choose the coins for ur portfolio. No one spends that much time on the phone with u unless. The mark up on bullion is like $50 but on numismatics many time $$ higher.

[@SchaefStudiosLLC]

If gold rises to $10,000 an ounce, it's fair to say that the gold/silver ratio will do what it always does when precious metals spike. That is to say the gap will narrow. The last time it spiked in 2011 we saw a gold/silver ratio of about 33 to 1. Right now the G/S ratio is about 80 to 1. If gold goes to $10k and the ratio just returns to the 2011 number we'll see $300 silver. It's possible we could see an even lower ratio. Historically the G/S ratio was about 16 until the past 40 years. If we get to a 16 to 1 ratio you're looking at $625 silver if gold reaches $10k. I'm not advocating silver INSTEAD of gold. I'm saying you should definitely own both.

[@murrayflewelling1258]

It takes 50 hours with a bucket and pan to pan an once on the Klondike. I wont be paying $10,000 for anything I can produce in a week with the least sophisticated method of production !

[@jonrock5578]

​@@murrayflewelling1258 50+ hours/week of panning is a tall order for the average person, and prospecting is scarcely so predictable. What's more, at $10,000 USD per ounce, the average prospector with a pan would face a tremendous amount of competition for that gold, which would render that odyssey infeasible. Should your mode of production prove sufficient to generate 1 ounce per week in that environment, however, you will do well so long as you invest in the preservation of your health.

[@whit4youkissthis184]

Well I'm buying 70/30 (more silver than gold) for a number of reasons - if you live in the USA it's a much better plan to protect your finances from being totally screwed when the US economy tanks (likely in the next 2-3 years) - some are even predicting it's possible the US dollar could become worthless in this decade. That's why at least 13 other countries are stockpiling gold, selling off their US treasury bonds and working on being able to trade w/ each other if the US dollar is no longer viable as the worlds reserve currency (google de-dollarazation if you are curious) and just a tip, don't care if I sound 'paranoid' or not, do not keep your silver coins/ingots/bars or gold in a bank vault - it's not absolutely a guarantee it'll be safe there if things were to get really bad. Also from what I've learned you'd be wise to spend what you plan to spend on silver, by September 2019, for a number of reasons there's a possibility that gold could take a big/brief dip sometime in the future, so you might want to save some of the $$ you plan to put into gold in case that happens. (Some estimates are is it might drop briefly at some point in the next couple years as low as $800-900 an once, that's not a fact, just a possibility and something to consider) Anyhow, I am not a economy expert, tho I did spend hundreds of hours in my 20s learning all about it, and several hundred in 2017 researching it. The economy is the worst it's ever been, by far, and most American's are totally oblivious to that. Believing the democrats in congress, who wanted you to think things were improving during the Obama years, and now the republicans who want you to believe things are improving even more under Trump. And of course the main stream media can't tell what's really going on with the economy they'd lose all their advertisers - who all have stocks on the stock market (of course their employers are corporations as well) But if you look at all the government charts/stats, as well as those of the Federal reserve, and corporations - 99% of the charts/graphs (even those that can be manipulated to look better than what's really going on) all look very very bad. Basically what happened is like taking someone who'd gotten addicted to prescription pills (the 2008 crash) and giving the addict an unlimited supply of heroin/needles (the 0% interest rates, 3 rounds of quantum easing, almost doubling the national debt, near 1 trillion deficit, and etc etc) - obviously the addict would appear to be doing good but clearly he's getting sicker and sicker and might just die. When I realized just how precarious the stock market bubble is right now, they can't even raise interest rates by 1/4th of 1% when they desperately need too for a number of reasons... that is the writing on the wall. And of course if the stock market bubble crashes - it might set off a domino effect of all the other bubbles, so it might not be safe to wait 2 or 3 years to stock up on silver (and some gold) Depends on where you live tho, China won't be hurt that bad - or for very long if the US economy tanks hard, or even if the us dollar becomes worthless, since by then they will likely have very few US treasury bonds left, and have so many tons of gold, it'll just be a pause for them while they wait for those countries who are hit hard by the US economy crashing hard - to make their comeback. China has been around for many centuries, a 5-10 year pause is nothing to them. I'd suggest Canada might be ok no matter what happens here in US as well since they are one of the countries preparing... but unless they are building a Trump style wall on their border not so sure lol. Anyhow for anyone still reading this - good luck - if you do have any $$ in the US stock market, unless you've spent a few 100 hours researching what's really going on - you might want to do so, and decide what is really safe... hopefully you do so beforSeptember of 2019... things will start getting much riskier after that. Personally I hope things can continue to go on for another 2 or 3 years at least but if the Federal Reserve can't even raise rates up to 4% (which they have too - to be able to lower them enough to bring the economy back up, as well as sell Treasury bonds overseas at that time) then who knows... Just one final thing, anyone reading this in the future, who simply has no way to invest in silver (and some gold) and don't have family who can help you should things get really bad in the future, consider a 'hobby' of learning a skill or two that's something that is absolutely needed even in the worst possible times ever... (I am making a list for my 18-22 year old gaming friends for them to choose a thing or two to learn... long as they US dollar remains viable another 2-3 years, at least I know they will all be ok)

[@mikamikalson7393]

@@murrayflewelling1258 50 hours? Not a chance unless you're on super rich ground or on bedrock. Factor in all the thousands of hours and time it takes to find the hot spots or use heavy machinery to get to bedrock and you dilute that "50 hours" exponentially. If your 50 hours number was even remotely accurate, there would be tens of thousands of people happy to make ~$5,200/month (4 ounces @~$1300/oz) or $62,400/yr. Those profits would be largely "tax free" so that's like earning ~$90,000/yr. Further, within that 50 hours I'm presuming you have a sluice and you're not factoring in the time and effort it takes to separate the gold in your concentrate. You can probably add another 5-10 hours of cleanup easy. I'd guess one man with a pick, shovel, pan, bucket and sucker bottle on rich ground alone would take 150-250 hours to yield a clean ounce of gold. Add to all of that, if you don't own or have permission to work a producing claim, your odds of finding that "rich ground" are even further diminished.

[@patrickmcfly3264]

this guys in 1 paragraph gave advice that is 50x more valuable and more accurate than 39+ mins nonsense and baloney by jimmy the joker

[@walterkiel552]

Monetary Economists don't acknowledge inflation because they exclude gasoline and food from their calculations... Jim Rickards makes a great case for the Gold Standard. Gold and Silver could be used to back currency...

[@tobychenderson]

That's the point. Governments can do anything with the gold and its price. They hold it in their own vaults. They can't do anything about your crypto! Except for the on and off ramps.

[@walterkiel552]

You make a good point, Toby Henderson. But are Cryptos really a storage of wealth ? And it looks like governments are taking an interest in Cryptos these days... we'll see what happens...

[@joemarelli6760]

inflation less Food Gas and Housing. 3 things we can't live without and yet don't get included in inflation calculation. What bunch of Bullshit!

[@amineaiffa]

@@tobychenderson They can make it illegal :S

[@tobychenderson]

@@amineaiffa But how do you stop a protocol? Governments can't even stop the drug trade. However, going cashless might kill off the drug and crypto trade. But I think then again trade will move to gold as the MoE. By then the government will probably make owning gold and possibly gold certificates illegal. God, we are heading towards a dystopian society. Hell, that was bleak!

[@Iwo26]

2020 and we are much closer to Crypto Currencies being implemented. This old school way of thinking needs to change.

[@chriss4365]

Yeah enjoy your crypto when the FBI comes and shuts it down and you loose everything their is a saying that goes the government does not like competition.

[@crisscreations]

@@chriss4365 How would they shut down what they have no control of?

[@chriss4365]

@@crisscreations They can stop what ever they want to they are the feds. Or they just shut off the power bye bye bit coin.

[@Perfumedradio01]

@@crisscreations China tried that in 2018...and failed bigtime...now they have legalized bitcoin/blockchain... bitcoin is a bank in your pocket...it's banks that are going to go down...

[@gordongoodman8342]

@@crisscreations Lol. Dude they just shut down the entire global economy.

[@christso1]

Why would a deflationary asset prevent borrowing from taking place? It just means the risk free interest rate is equal to the deflation rate.

[@kevinkennedy4394]

The cryptocurrency/stock market is like a roller coaster, what goes up comes down only to go back up again. Many investments are the same way but i love to give the responsibility to an expert sec licensed broker, rather than make the losses the expert made while he/she was still a beginner or make mistakes myself as a beginner. A broker with the potential of generating constant positive returns of both rising and falling markets. I have made over $63k this past week amidst the BEAR and ready to dabble for more.

[@johningram5479]

Its April 2020, he was wrong about going to war with Korea by the end of 2018, wrong about the SDR

[@amandachoses8383]

and wrong about BTC...

[@birinhos]

"Why not use visa instead of btc ?" Basic - Do not give more power to Fiat and their friends. Btc may have some problems of speed but it can co exist with another type of cripto. And about the energy he must read about Nash equilibrium ...

[@amandachoses8383]

@@birinhos but i read that who knows who created BTC? what if it was the bankls or the fiat people?? soon they wil have their onw digital coin

[@birinhos]

@@amandachoses8383 bitcoin is by definitiion agaist Banks. It is free money. Any coin created by any bank like xrp, corporation like libra, or governamental like in China test, Will have no future since is the same as Fiat.

[@amandachoses8383]

@@birinhos but yet,, we dont know who realy created BTC.... if they were able to stage this pandemia at a global scale, they are capable of everything to control us.. do some research on ID2020, Bill gate and the WHO , Eugenics... EVENT 201, Agenda 2030... we are being played.. so at this point i have my doubts... the agenda is mass control... so who is really behind BTC?? and yes, XRP is the one they are trying to impose.. but rememebr they had to experiment with it first....

[@workwithnature]

One point on inflation is that it went into the assets. The real economy has deflation. This then means the few got rich whilst the many got poor.

[@joshuadeandoesstuff1224]

Also... cryptos are basically in a testing stage. its all a big experiment. I came for the money stayed for the tech. I am very interested to see how the world of crypt changes over the next few years. A system that everyone can participate in is very cool. If anyone decided to take over a whole coin the mass of people would most likely participate in another system. Based on how we are all looking for ways out of the dollar. because we feel like a small group is holding all the power.

[@joshuadeandoesstuff1224]

Thats fine, everything in life is speculation to me. even gold and silver has no value until someone offers you something for it. When you refer to something as having value, your speculation that, that persons word is worth anything. dollars only have value in the belief that our governments word is worth anything to back the value they say its worth. we can all start trading dried out dog shit if enough people claim they'll stand by it having value in exchange for another thing of value. And I respect your response but it is a little naive to think that anything could never derive a value. A whole new world of people is being born each day into an ever changing world. Ultimately they will be the ones making the changes of the future, the power of the people is still a powerful thing and the people growing up in a technological world may just see a value in a virtual currency that people like us are blind to. I never put all my eggs in one basket, but this basket defiantly has potential. Your only going to hurt yourself if you completely write anything off that you misunderstand in anyway . I wake up everyday and tell myself i don't know anything so I can listen to all ideas and questions because thinking theres such thing as absolutes is childish. I absolutely need air food and water, thats all i know right now. everything else is speculation. stay skeptical my friends!

[@delacroix97]

@Teringventje the thing is, nowadays we heavily rely on the internet, alot of payments and transactions we make are online, if the dollar fails, crypto is something people will use to make online transactions. The convenience of online transactions aint going away.

[@louielouie7806]

@@delacroix97 I dont buy this. Warfare has long moved into the cyber dimension (4th). This means nations will wage war online, and best believe hacking and stealing and decimating servers WILL be a norm even during limited warfare. Be prepared to lose it all! Joshua, GOLD has been valuable to people for 5000 years, so your argument about dog shit is lazy and unreasonable. if dog shit cured cancer I might buy into that shitty argument, but gold IS valuable because it can be used as a catalyst and in electronics. It ACTUALLY HAS INTRINSIC VALUE! Furthermore GOVERNMENTS find gold valuable therefore GOLD will ALWAYS be a valuable investment.

[@delacroix97]

@@louielouie7806 dollars dont got intrinsic value either?

[@louielouie7806]

@@delacroix97 of course not, unless u use them to wipe your ass or start a fire.

[@outbackeddie]

There is a use for bitcoin other than "crime." What if I want to rent a room in another country and the owner of that property doesn't have the ability to take Visa but he will take my bitcoin? I can pay him almost instantly and the banks don't take a cut of the payment. There's nothing criminal about that transaction.

[@OnlyMyPOV]

outbackeddie It has zero value because the utility company realized all the profits. Of course the poor foreign fool room renter does not know this and you will not tell him.

[@GertrudePerkins]

Jim Rickards seemingly failed to mention one potentially major flaw in his argument for a return to a gold standard... Gold is used extensively in electronic products. Being as it is a non-tarnishing, non-corroding excellent conductor of electricity, gold is used in an untold number of electronic products (including the smartphone I am typing on). If the gold price was inflated to $8,000 per troy ounce, it may affect the cost of electronic products to such an extent that they become prohibitly expensive.

[@Alex-og9ue]

It’s very sad to see the attitude some in the gold community have decided to take on cryptos. I also used to be a precious metals maximalist but have since admitted how wrong I was. Yes, gold has been and always will be the best store of value available to us, but it can’t hold a candle to crypto currency as a means of exchange. The solution is to use both (gold as a long term store of your wealth, crypto as your everyday means of exchange) not to demonize crypto was only useful for “pedophiles, drug dealers and terrorists”. Sad and misinformed speech from someone who has a weak understanding of the technology behind bitcoin.

[@calliegal235]

I don't have a very good understanding of cryptos, but is it possible that there is some advantage to the crypto community to have more of us interested in owning cryptos?

[@stevesheldrack3739]

Crypto currency is the future, investing in it will be the wisest thing to do especially with the current rise.

[@supportbillionairetrademar3907]

Stocks are good but crypto is better

[@supportbillionairetrademar3907]

Stock's are crashing, Bitcoin Investment right now will be at every wise individual list in a month you we be ecstatic with the decision you make today

[@scottosborn8345]

Nice words 👌

[@scottosborn8345]

Fore real it's true this could be the wisest word I've heard, you got my point

[@nicolebee8382]

Nice words especially with the current rise

[@dasherman5150]

Saying that hard forks are inflationary is like saying the USD is inflating when Zimbabwe prints money. Also, the proof of work in Bitcoin has nothing to do with prime factoring.

[@armchairrockstar186]

Don't waste your breath mate. This boomer doesn't even know the difference between sound money and a method of payment. He asked "Why is bitcoin better than Visa?". What a clown. On top of it all, he thinks bitcoiners are criminals.

[@actualideas8078]

Armchair Rockstar! He made some good points bro. Bitcoin was supposed to be “the coin”, but once it forked and new alt coins came out, it lost that property. I’ll admit, if BTC dropped fat enough however, I’d buy some

[@birinhos]

Basicly the guy did not think correctly about Bitcoin and/or is friend of the printer.

[@birinhos]

@@actualideas8078 see the market cap and that argument goes away.

[@actualideas8078]

birinhos do you think it’s possible that market share streams into a new/“better” coin? Bitcoin could become old news. I’ve been thinking about it a lot though, if we could create a public coin for the government to use, we could all watch as taxes go in and spending comes out. Article 1, section 9.7 “...and a regular Statement and Account of Receipts and Expenditures of all public Money shall be published from time to time.”

[@barrythacker7281]

10,000 ounce for gold? I can pan for gold on the west coast and buy a devalued house on east coast in one month at these rates. We just solved the homeless problem BRAVO

[@server1ok]

If you want to solve the homeless problem ? then nr. 1, stay the hell away from the coasts

[@randylaundrysilverseeker]

silver and gold at the end of the day is your number one investment

[@muntee33]

Randy Laundry Depends what you strategy is. Personal gain? Insurance? Primary producers... Waste processing/recycling facilities...

[@zbigniewsiarkiewicz438]

Under current federal law ,gold bullion can be confiscated by the federal government in times of national crisis...April 5 1933 ,by President F.D.Roosevelt......

[@mickeydrago9401]

Especially silver, if you want a more wild volatile ride!

[@Watchingtheparadegoby]

At the end of a string of days (not years) gold and silver has been among the worst ROI's in history. But when the sky is falling and Henny Penny is running for the roost she can take comfort knowing the fact that Farmer Pete buried his cache of pre depression bullion under the roost.

[@kevinkennedy4394]

These are my Rules To Invest. Been investing since 4 years now and haven't been dissapointed. 1 - You must understand the business 2 - The business should have a competitive advantage 3 - The business's equity, eps, sales, cashflow should have average of 10% growth over the last 10 years 4 - ROIC should be above 10% on average for the last 10 years 5- Long term debt should be covered by last year's operating income 6- CEO should not be a PRICK ! 7- You Must buy at a margin of safety of 40-50% based on your estimated current price of the business.

[@victorsuccess6650]

this is true, i was just about to say this it can only be trading and investments that can increase ones wealth on side. As for me i believe so much in being my own bank that is why i chose to take calculated risks and investment online. Please can i know who you trade with?

[@josboersema1352]

When the Government forces someone to pay their taxes in a given currency, that creates a demand in that currency.

[@chadjones4255]

TyrannyBucks

[@ky-effect2717]

Firstly I appreciate what James has to say but unfortunately i think there are some false statements I noticed about Bitcoin. 1. Satoshi's didn't say it was impossible to attack at 51%...so yes you are correct it's not a 100% perfect solution and I doubt nothing will be 100% attack proof, but it's definitely not as easy as he makes it sound. I'm Sure Russia would have done it by now if they could have during it's 12 years of existence now. 2. What other currencies would be more resilient to attack than Bitcoin? None that I know of. 3. Other use cases besides criminals? As someone who uses bitcoin daily to buy food, internet purchases and overseas purchases. So Um, I wouldn't consider myself a criminal. I don't use the black web or buy drugs. I have no reason to hide my purchases. But i find the CHEAP, FAST, and hastle free transactions of bitcoin a blessing. I have no idea why he saying it costs $60 for a $50 bitcoin transaction. Every transaction ive made have been less then $1 unless out of an exchange for $4 flat rate. 4. Transaction speed limits? And elasticity? Aren't you underestimating the progress of this technological growth during the course of it's development? 5. The fundamental technology of distributed legers along with Blockchain has way more potential than only a form of currency. Even if Bitcoin doesn't last forever..but it's definitely better than anything else we have today in my opinion. 6. Oh and mining using electricity may not be the most efficient but it's not a waist. It's converting energy to a store of value. Value is created and stored into a bitcoin like a battery. 7. I doubt bitcoin would have lasted 12 years if it was simply a ponzy, let alone become the fastest and most outperforming asset there is since it's existence and having no signs of slowing down in the long run. So overall, I think It's healthy to have a bit if pessimism of of new emerging technologies and assets but at the same time I wouldn't undermine it yet. There is yet si much room for growth in the space abd Bitcoin's track record is proof of it's resilience. By the way, China is well aware of the western tenancy for slow adoption of new ideas and controversial technologies that's why they are leading us in Ai, big data and forming their own Fedcoin.

[@AbdellahBerhil]

i agree

[@joshuadeandoesstuff1224]

I really like Jim Rickards, I have read every single book he's ever published try to find every video he posts and ever interview he does. however I somewhat disagree with his take on cryptos(I recognize he said he does like some of them). I am a heavy holder of precious metals and believe every person should hold at least a small sum of them. But, I see a clear use for cryptos. I also realize nothing is perfect, every system will and does have a flaw. Because humans are involved in the building blocks of said systems, and humans are inherently imperfect. 1. a gold system would be great but would 100% need to be tied to a digital system to allow for the fast movement of todays society. 2. the mining of cryptos as a whole use a lot of energy if only the strong survive less energy will be used to mine if theres only 3-5 mineable coins left, not all coins are mined. Also tally up how much fuel/oils are used in precious/base metal mining, and the negative effects these processes have on the earth. 3. I would love to get a loan of money that grows over time for me to pay back the loan. the problem with loans is that your money is worth less over time so i need to use more of my devalued money for purchases while still maintaining a loan payment. Theres a case for everything and anyone can play with words to make there point seem to be better than the other. I always say, theres absolutely no blanket statement for anything, except that we all need air and water. So I guess we should just monetize that. (quietly laughs) but i'm just another nobody in the sea of nobodies sooooo have a great day and spread out your investments :) \m/. O and thank you jim for another great interview I love to see how other great minds are thinking.

[@reggiet4956]

joshuadeandoes stuff I am new to investing. Looking at purchasing some gold/silver. I am unsure of the best way to store it, any advice please?

[@joshuadeandoesstuff1224]

I have a small amount buried. and the rest hidden through my home. its harder to store if you rent if you own you can literally store it behind your walls. I rent and found great ways to hide it, however i do keep a good amount in my safes. I order from certified bullion dealer such as JM bullion. and i hold more silver than gold just easier to accumulate. i like oz of gold hold for larger purchases.

[@consciouscrypto3090]

You're correct except on the loan part. You're explaining it as if you borrowed in dollar value using crypto and owe it back in dollar value. That's still treating dollars as the currency and crypto as an asset. Which maybe is how it's going to actually play out for crypto like BTC. But the way he's presenting it is as a currency. So you would borrow 1 BTC and owe back 1 BTC a year later. That BTC might be worth $6,000 in purchasing power when you bought it, but worth $20,000 in purchasing power when you have to pay it back. You would choose to just trash your credit and default instead of paying that back. Or realizing that's the deal, you just wouldn't take the deal in the first place. All your other points are valid though. I think we just have to stop thinking about crypto as a way of duplicating the same money system we already have. Those who want the gold standard still see all the features of this monetary system, such as fractional reserves, persisting. But we are trying to move to a better monetary system that will necessarily work differently in some ways.

[@ashebeenstream]

I would love to see Jim Rickards v Andreas Antonopoulos in a crypto debate - would be epic!

[@vambo13257]

acan00056 and Jim would melt like the wicked witch

[@ashebeenstream]

most definitely

[@RyuAxe]

I would gladly pay for that.

[@murrayflewelling1258]

@Crypto Age Media It would be a total joke - look at my above real life example of how long it takes a guy to pan an once and then ask yourself, would I pay $10,000 an once for gold? Not even with severe brain damage. Ask yourself , with these guys own theories , would an asset anyone could create in 50 hours with a bucket and pan an investment at $10,000 or a ponzi ????????

[@NixonRexzile-xz4sq]

Jim Rickards is a bank lover regardlesss of his attack on banks

[@edbliek9895]

The weakness of Crypto, are the Big Players, they create to much volatility for the small Cryptoers an they are left empty handed. As with FIAT, unless the regulations are vastly improved.(XRP)

[@actualideas8078]

Ed Bliek is XRP what Rickards would recommend?

[@ryanrobinson188]

Rickards will not mention XRP bc the little guys are not allowed to have !!!!! Buy it while you can !!! XRP will be the World Reserve currency

[@actualideas8078]

Ryan Robinson cuz they can closely monitor and tax it?

[@douglasprostock7086]

@@ryanrobinson188 rickards is scared to death of XRP

[@stevenmcennery7396]

He said something like:- "You gotta like factor - these, you know 87 digit, uh, uh, uh, prime numbers, uh, into prime factors". Well, first, the definition of a prime number is that it has no factors apart from one and itself. Second, these "87 digit numbers" are not prime numbers". If anything, prime numbers are connected to cryptography, which is the bit related to your keys ( wallet stuff ) and so your rights/ability to perform transactions on ( your ) bitcoins ( i.e. send your bitcoins to someone else ). So one has to consider two distinct aspects of blockchain:- 1. The proof of work ( the number crunching bit ), and 2. The validation ( cryptography ) bit which does not require number crunching to prove that that certain keys have the authority/rights to perform transactions (which are held within the blockchain blocks).

[@GoldRepentance]

GOLD - everything else is fiat

[@adgasdggfg]

25:00 Will governments allow huge electric energy expenditures? Yes, since they receive taxes as a compensation, additionally, there is nothing wrong with using electricity for any purpose. As long as you have a right to said electricity there is nothing anyone can do to tell anybody what to spend their electric energy on. There are a lot of things that consume energy, for no real purpose either. How about idling cars in traffic jams? How about traffic light stops and acceleration inefficiencies? Or even the production of fidget spinners. It does not matter in the end, because it is a market. Legalize fidget spinners!

[@Chartoise]

He really doesnt understand Bitcoin... Doesn't matter if he's a coder. That's like saying I understand Ferrari F1 cars, cause I was a steel worker.

[@nitinvasdev3069]

One thing I totally agree with him “acceptance make it Money 💰 “ I have seen guns , drugs , water , metal utensils were treated as money in this world 🌎. Believe me Gold is much much better and hopefully it should remains like that . There are still many millions people in this world who have not even heard ‘online money ‘ rest alone ‘digital money ‘ But I had not yet met a single adult person who didn’t knew about Gold . My vote is for Gold & silver . 🙏

[@patrickmcfly3264]

you're not wrong, gold is money unfortunately, the upcoming generation (millennium, y, and z) does not prefer to hold precious metal including gold don't take my word for it goto 50 coin shop and dealer....ask them the main demographic for > 90% of their volume of their sales and buy back purchases they will all tell you the same thing..... bought by folks age 40+ years to 65+ years old to not invest in a tiny amount say 0.0023 bitcoin would be a tremendous mistake in 10 years time

[@Rob_Cash71]

"There's no such thing as a blockchain" ~ Jim Rickards "There are thousands of different blockchains" ~ Jim Rickards This is why I respect people for their knowledge in their fields of expertise but, I still do my own research because of contradicting statements like the quotes above. I "NEVER" subscribe to people's beliefs or predictions in finance, just self researched FACTS.

[@bigburci]

Dinosaurs never understand the future. They just die out.

[@Rob_Cash71]

@@bigburci indeed!!!

[@williamiannucci2740]

This man has failed for he left out Silver. Our CONSTITUTION states : YOU SHALL HAVE NOTHING AS MONEY EXCEPT SILVER AND GOLD PERIOD !!!

[@outofworkbum2324]

William Iannucci well said I'll stick with the shiney objects I can hold in my hands

[@zbigniewsiarkiewicz438]

@@outofworkbum2324 Under current federal law ,gold bullion can be confiscated by the federal government in times of national crisis...April 5 1933 ,by President F.D.Roosevelt......

[@cosmosaic8117]

We were initially a Silver Standard also. An actual Dollar is 0.7734375 troy ounces of pure silver.

[@janni3dutoit]

This guy had me up to the Korean war comment. 3rd of January and no war in sight...only a market crash and last time round gold price tanked at the same time the stock market did. The dollar was a go-to to try and contain wealth...this time there is bitcoin and I recon allot of money will flow that way with the current price being so low. My guess is another bubble, Bitcoin running up to $100K then dropping back to $25K. Buy from now for the next two years and sell at around $80K to be safe. When you sell, start to buy S&P500 stock as it would be at an all time discount. Repeat the cycle every 10 years...if you have time on your side.

[@DarwinianUniversal]

Interesting video in light of the recent financial collapse. Probably be even more interested within light of its aftermath, when Bitcoin has saved some people their wealth while others have been washed away by fiat corruption

[@actualideas8078]

Questing hmm, bitcoin is doing ok I guess. Really gold is numero uno

[@DarwinianUniversal]

@@actualideas8078 Btc is unproven next to gold, but its a new upstart thats keen to impress. Times change and gold might find itself matched by btc. Lets see what time brings

[@brietoe]

XRP is scalable. Fast transaction times, high bandwidth, low fees. Vista charges ~3% per transaction. Your argument about cryptos deflationary property can also be applied to gold.

[@douglascarlson9006]

A truly brilliant speech! I absolutely loved hearing this guy completely destroy Bitcoin.

[@mbansia]

I'm sure Jim isn't going to see this but 2 big criticisms : 1. If you have gold as a reserve currency at a price point different from market dynamics, aren't you destroying the real industries that use it. Are people going to buy jewelry at 3 times the price ? 2. I'm an DCM analyst bonds can very well survive in any environment. You just peg them to another benchmark. If the money's worth grows (deflationary), we can just plug that in into the calculations as we might with inflation Lastly, stemming from 1. Isn't Bitcoin the ideal, non-invasive, non yielding global reserve currency?

[@consciouscrypto3090]

I think you've hit it, except that I don't think BTC will be a currency. It is a reserve asset. It is real money, real enduring perception of value. No one wants to give you their BTC for a pizza anymore. Now they know that if they give you .0001 BTC for that pizza today, a year later they will have foregone the buying power or 10 pizzas. Everyone wants to horde their BTC like people horde gold.

[@jonrock5578]

No. The value of money would simply adjust to the new equilibrium level between supply and demand. Since gold would operate as money and all prices would be quoted in gold, any increase in the demand for gold - or money - would generally drive down the quoted price of goods, including the general price of jewelry. There is absolutely nothing to preclude optimal gold usage in industry within an environment of gold money.

[@x3boodxx]

gold is fature and the past it cant be printed and it has value in itself and no one can crash it by selling it in bulk because people will keep buying it because it has value unlike the paper money and crypto

[@blablubb4129]

I think they will back a centralized cryptocurrency with gold... So in a few decades they will be able to bury this gold standard again.

[@joesmith-ju7hh]

Still required trust. It will start fine but over time it can easily become corrupt

[@joesmith-ju7hh]

It would be more stable than current fliat for a few decades at least

[@permabull8301]

"Bitcoin is bad because it forks, and so is infinitely inflationary"...."Bitcoin is bad because it's deflationary". Nonsense arguments from Rickards.

[@jacksavage3393]

James Rickards is right on both counts.

[@permabull8301]

Bitcoin can't be both infinitely inflationary and deflationary at the same time.

[@gofok2000]

btc is inflamatory

[@conscious_being]

Perma Bull Of course not at the same time. It is either deflationary or infinitely inflationary, but both are possible scenarios and neither is acceptable for something to serve as money. What Rickards hasn't mentioned is infinite inflation through other Bitcoin blockchains appearing without forks. Frankly, if I had a few billion and wanted to kill off all permissionless decentralized cryptos, I would start buying Bitcoin on a blockchain different from the currently popular one and push up its price until it surpasses its price.

[@flashbangkill123]

i take the Sovereign man approach. Which is that the forks would for example be like linux, which has many different versions for various different things. So it's just people who believe can make a better product than bitcoin who do it. Not really inflationary because it is not bitcoin just another coin.

[@HenrikRClausen]

Actually, I disagree with the point of 'elasticity' as a requirement for good money. Prices can fluctuate pretty well against a fixed money supply.

[@davida4601]

Keen thinker, good at disseminating information, sneaking suspicion he uses his brainpower mostly to sell his stuff. I can't blame him; that's his rice bowl. Excellent presentation for understanding topic of currency, gold and block chain (s): I loved that part 'there no singular block chain' (not exact quote) 'there are dozens of block chains' and 'the only intrinsic value of crypto lies in it's value to criminals'.

[@toddmullis8051]

I liked that as well. The issue is that Bitcoin can be traced. It’s a terrible tool for the criminals

[@damianprivett5834]

So difficult to navigate this speech...one thing he got right 100% is "Confidence" will win the day!

[@demri123]

there are 2nd and 3rd gen cryptos that ARE scalable and energy efficient. its the early days now. its like comparing dial up internet to giga hi speed. the giga broadband is coming for crypto.

[@johnnjenga1025]

Jim Richards is a great guy.Here he describes what a good Crypto should look like and his description perfectly fits Hedera Hashgraphs HBAR

[@mickeydrago9401]

Do you think it will replace the blockchain

[@PURPLE_SHADE_SMOOTHIE]

Jim Rickards keeps talking, while bitcoin keeps gaining world wide acceptance.

[@billdipperly6079]

? it cannot even catch a bid while gold is approaching ATH?

[@sherri5303]

Bitcoin is a ciaOperat1ion greasing the skids for a cashless population.

[@Jaden48108]

Rickards makes an argument having some valid points, especially concerning the cost of bitcoin transactions. Ain't going to buy a cup of coffee with Bitcoin that's for sure, which totally defeats the original concept of Satoshi's white paper. Yeah, yeah, I know, Bitcoin cash supposedly makes that concept come to life. But there's one point he makes perfectly clear and that's who gets to decide what is money? It's perfectly clear what Rickards wants- a gold backed system. But he doesn't get to decide. This time around we get to decide. Not the central banks, Wall Street, or even the government. An interesting process is taking place in which fiat currency, backed by some measure of confidence, is pouring into the cryptos thus validating its legitimacy. Then crypto software takes care of the rest as far as confidence is concerned. Giving up cash for something better, safer, and more useful is something Richards didn't really cover in this lecture. Gee, I wonder why?

[@graemedocherty1673]

Yes Bitcoin transactions got big for a couple of months, because it could only do 7 tx/s. Segwit and lightning are already launched and as adoption increases throughout the the year it can do millions of tx/s for FREE! Transactions are already sub $1

Are you people insane? I have already seen over 65 million in stolen crypto across 40 different coins. 5 exchanges have been hacked. 16 mining pools have lost all their coins. SHA-1 has been patented since 1990 by the CIA. SHA-256 is owned by NSA and bankers. You are setting up the future system for them. They really dont care which you pick because they will tax you on the nothing they give you. They want to tax your digital hat coins. Remember how dumb it was when people paid fiat 1.0 for digital hats and skins in games. Now you want to exchange your ability to work for digital nothings. A market that has not even got started has already lost 50% of its value in less than one year and you see this as the future? I guess you see the future as a very homeless, starvation ridden world then.

[@GuillermoTempo]

I like JR a lot, but he's missed the whole point of decentralized ledger technology: Decentralization. That makes it better than Visa.

[@whit4youkissthis184]

For now there's so much corruption involved in the crypto scene it's unreal. Besides that, for now it's just strictly gambling, perhaps in 10 or 15 years there might be a good sound secure system around cyrpto, but for now it's just a way for a few multi millionaires (and every fly by night two bit criminal who knows how to code and write a 'white paper') to suck the wealth out of this generations dreams of a get-rich-quick scheme that gets them rich and not those getting scammed. There are ways of course to make money on crypto at this point without being really rich, or creating another pump-dump cyrpto, but it's risky and you have to be smart and know when to buy and when to sell etc. Might be worth risking some of your expendable cash doing so, certainly going to have a better chance, if you are smart, than if you were to go to a casino. But anyone who's 'holding' bitcoin that is money they can't afford to lose, is likely fool. And you know what they say about a fool and his money...

[@anthonyhopkin]

+Guillermo Tempo ::: it will only be better than Visa when it matches performance and cost with - transaction time in volume. When you can pay for your coffee/train ticket for a % in seconds - then it will be worth a second look. Hashgraph ... when opened up? regards A H

[@olegpetelevitch4443]

Been saving in gold for 30 yrs ! The ultimate saving account i hold ! LOVE MY GOLD ! TRUE VALUE THAT LITTLE KNOW THESE DAYS EXCEPT THE SMART !

[@majorpayne8373]

This guy asserts that there are still 8,000+ tons of gold in Ft. Know. He's a tool of the Fed. He tries to give the impression of being an outsider but the totality of his outlook does not ring true.

[@nunoalexandre6408]

In Gold We Trust ForEver and Ever !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[@spacecatboy2962]

wow, thats great Jim Rickards got his picture on the $100 bill

[@Rellhill1]

Lmao

[@SteveLockhartSLM]

Space Catboy complete with combover

[@phx4closureman]

lol

[@royscown7113]

Jim's presentation focuses on the static concept of "money". When in reality, whatever we use to make economic exchanges of value are based on the labor efforts and skills required to possess that which we want to exchange. So, any kind of written promise on a piece of paper to make an exchange is money. The point is, that any form of money represents a claim on labor.

[@glenharvey4773]

Stellar Lumen’s endorsed by Jim Richard. Bravo Jed, Checks every box!

[@patrickmcfly3264]

truly a genius (bwahaha).... Jim's a master at picking shitcoin shorts ...what was it $0.80 don to $0.07?

[@patrickmcfly3264]

ahem...oh wait he went long didn't he ... hehe

[@CryptoJoeInvest]

I agree with most of what he says, but he is totally wrong about XRP. Non-scalable - Wrong, XRP is scalable up to Visa level transactions (50,000 tps), probably going to be even more in the future. Non-sustainable - Wrong, every XRP was pre-mined, unlike a lot of Pow and other digital assets. Non-regulated - Wrong, Ripple (mostly Ripple) & R3 made sure XRP was the most regulated digital asset from the get go. No use case - Wrong, Banks all over the World are already using XRP for cross border payments that are MUCH cheaper than the SWIFT system. R3 made a SWIFT api for them to use XRP for just this use case. Non-elastic - Wrong, all digital assets are elastic in some way to accommodate normal economic growth. Especially the regulated ones. Otherwise, I agree with 95% of what you said.

[@PvUtrix]

He doesn't understand what Proof of Stake is! It's not staking processing power, it's the actual tokens or coins you stake. 19:53

[@dubTuube]

Pavel Shershnev not only that. He called ETH pos

[@jeed888]

Look LINDA coin up, one of the best POS coins out there imao.

[@adgasdggfg]

POS ? How about Proof Of Work. Gold is like bitcoin, to obtain it, you have to go deep and get it. Once you have it, nobody can deny that you are holding it. No promises, no assumptions. 100% Fact.

[@CryptoRealNews]

Of course he doesn't explain it very well. And he is wrong too when he says ether is POStake (it is POWork - but later they want to go to POStake) - regardless, he is biased to gold maximist of sorts. Anyone who is a maximist (inc BTC) - are blind and bias at same time.

[@DissThat]

This bald dude is the definition of stupidity. By the way we learn something new, Ethereum is POS 🤣🤣🤣.

[@lowelovibes8035]

Can you use Bitcoin to buy things of daily need-? Or is it true that a transaction of $ 50 costs $ 60, and if it is true this cost would increase or decrease in the future?

[@mikekolacz1525]

I’ve never been more confident about crypto

[@Bluudclaat]

Are you rich now?

[@TBirdHEX]

I recently just stumbled across a fact that the Australian Tax Office has included Crypto-Currencies as being taxable. That is a MAJOR RED FLAG for me. If the Australian government is taxing Cryptos, It's axiomatic that the same would apply virtually everywhere else. Cryptos is about more and more technological control over how the people engage in commerce. Gold and Silver will always rule. I would argue that intrinsic value might be irrelevant in the context of what Rickards is talking about in his presentation. But intrinsic value DOES matter much more than people realise. Gold's intrinsic value is in some electronics and medicinal applications. Silver has 10,000 different intrinsic industrial applications. Gold and Silver will be the only real monetary tool left (as it always has), but Silver will be much more valuable than Gold in the modern age as the fiat/debt ponzi scheme economy collapses because there's far less Silver above and below ground compared to Gold, and there's much more industrial demand for Silver. If you don't own any Gold or Silver, no matter how much you think you have in digital and paper "assets", you'll end up on the street. Plain and simple.

[@bjk777]

Crypto will never be true money, by definition. But the world survives on illusion.

[@Wamsuo58u]

Neither will fiat

[@sudocrypto]

Matrix

[@larposan]

Oh well, yet another person who doesn't understand how lightning network works. No, you don't create "a group" for coffee shop, and no, you don't need to trust any of the other parties in LN network. LN is built on the same trustless and decentralised principles as the main btc blockchain, but adds better privacy and true scaling.

[@kellis773]

He's either a phenomenal salesman or he makes a lot sense. I'll have to continue to listen to this guy I do find him interesting...

[@patrickmcfly3264]

yes...also give him loads of your money instead of investing and securing your spot in the bitcoin revolution

[@birinhos]

Only salesman for sure. Gold lol goverment forcing the price of gold again ... Governent is forcing many things already too much.

[@restfulsole7]

Xrp from ripple Get some. Really cheap. 18 cents. Xrp is a bridge to all currencies world wide. Will be used in new financial system. Do research on KZbin Xrp from a former silver stacker. Get it at coinbase.

[@ryanrobinson188]

XRP World Reserve Currency........to the moon brotha !!!!!

[@licklake1]

I am not trying to hype bitcoin. But what he's saying about lightning network is "falsy" and the part about the 51% attack is completly false...

[@patrickmcfly3264]

lol..yeah we all know, but it's fun to watch 70-90% of the idiots....ahem i mean noobs here we gobble up his nonsense and miss out on the opportunity that happens only every 5-10 generation

[@PURPLE_SHADE_SMOOTHIE]

My response to Jim Rickards point about energy usage to create bitcoin at time 24:12 is: "What about the inefficient energy usage of all the financial banks' brick and mortar buildings built, and electrically lit and heated 24/7/365, and on top of that we have to spend time to drive to them, wasting war causing oil (gasoline). That medieval scheme is far more wasteful of energy."

[@marcus3624]

should have been called the bash Bitcoin speech

[@DarwinianUniversal]

dont worry. this bashing will come back to haunt him when btc has done its good

[@SCzxjk]

This dude makes money off gold bugs,he's like a robot and he's followers are like sheep. Gold is for people who are already very wealthy and BTC /Crypto is for people that are trying to achieve decent standard of living.

[@ADobbin1]

Crypto just feels like it is the ultimate expression of fiat currency. Completely disconnected from anything in the real physical world.

[@GabeHiggins]

It's not completely disconnected from the physical world. The mining process is what grounds Bitcoin to the physical world. Bitcoin requires consumption of real world resources to produce something that is scarce. That is not fiat, much more like akin to gold. You can prove me wrong by producing a Bitcoin yourself with no capital expenditure... I'll wait. Spoiler alert... it's impossible.

[@kennethreid2794]

You can't beat silver and gold

[@AngelofHogwarts]

The safest bet right now is a mixture of Crypto and physical precious metals (gold and silver). If they do decide to pull the plug on the net when fiat crashes, crypto will be in trouble. It'll be much harder to go after every single person who possesses (and stocks and hides) gold. Even 1 ounce holds so much value right now...imagine the value and purchasing power it'll hold when fiat goes boom (as every single fiat currency has in the history of the world).

[@dirtypunk1986]

and now in 2020...he is puking all the shit that he was eating 2 years ago

[@billdipperly6079]

gold is approaching ATH. what are you talking about

[@brandenwright327]

Something that has uses other than trading it for other goods is true value. Like food for example. You can trade food for other goods but u can also eat food. All u can do with cash is trade it for goods. It has no other use besides trading it can't be consumed in any form.

[@riskmanagement9106]

Warren buffet has his own agenda. I'm sure it involves the Silk Road . He bypassed the dot com era.

[@qones3574]

The problem with buying gold by the central bank, instead of buying bonds, is you are diluting your currency at the same time that you are rewarding savers. So, trickle's wealth upwards. Intrinsically, someone holding gold is choosing to not invest that asset in the form of production, but is preferring to sit on dead wealth hoping to cash in on the economic growth caused by others. Meanwhile, when the government sells treasury bills and bonds, a reasonable portion of the resulting spending that they then fund would be either supply side or demand-side production stimulus.

[@sampotter4455]

Well, thank God we are not at war with N. Korea! Maybe Trump's meeting did some good.

[@bobleonard99]

Jim Rickards is not taking into account the inevitable collapse of fiat currency and human dependency on cell phones. Whatever replaces fiat must be cell phone friendly and gold/silver do not fit that description. Digital currency does. He is right to say 99% of the current crypto currencies have fatal flaws but does not know what the next generation of crypto currencies will look like. Sooner or later, digital currency is inevitable. Just because the perfect token does not exist today does not rule out future adoption.

[@avramouilucian2809]

XRP is faster then visa and cheaper than paypal

[@notyourechochamber3137]

Agreed. The stars are aligning for at least one major currency to have a fixed supply/rate. Why did we go off the Bretton Woods standard anyways..

[@MrJbswann]

Very poor and uninformed Crypto arguments by Rickards, but we all have our biases.

[@999deanb]

Either he's oblivious, because he's a gold-bug or he's a straight liar! Probably went to lunch with Jamie Dimon yesterday!

[@roberthamby3112]

Jason Swann You must have some Cryptos Jason.

[@joejohnson1236]

Some of his arguments are valid, and the manipulation exists, but he does not understand the validation (confirmation) at all. This itself shows that he is very uninformed as this is the whole basis of the utility of Bitcoin. The blockchain is a fully validated process that is not controlled by any central bank nor government. I do not own BTC, and I am not biased, just saying the truth. He is right that Bitcoin is not sustainable, but another crypto that is more efficient can work. I don't think it will become popular, but it could work.

[@patrickmcfly3264]

​@@joejohnson1236 ALL his arguments are invalid... even the manipulation example was ridiculous infantile at least most of the crypto aware folks know it's probably worst, tether, etc.....but we also know as the market grows, retail owners grow from our measly 1-2% today, it will exponentially get harder and harder from them to used sophisticated manipulation over a larger range of movements bitcoin is proving to be more and more sustainable as time passes, the hashing power can easily be done and is currently being done by excess electricity cycles (yes it's getting more competitive ....miners are parking their and drawing power next to hydro, next to wind and solar, and most importantly next to power during low peaks when power would be wasted so it's not....so much automation is now use to make sure miners switches off during peak and come on to maximize reducing cost, and more important reducing wasted power), 1000x more retail users using bitcoin or a factor of 3 doesn't equal 1000x more electricity used.... it doesn't scale that way, totally bogus information, it's like saying your smartphone should use 10 highrise buildings of power since it's equal computer processing to a few hundred thousand cray super computer from >50 years ago....advances in technology doesn't scale this way. BTW. price manipulation (albeit smaller over time) will always exist in bitcoin even 10 years from now, just like it exist in ALL markets.....in the S&P and DOW..they call it price discover....bwahahah!

[@calliegal235]

Love listening to Jim Rickards!

[@pyrotech122]

Gold, Crypto, or Fiat? The answer is D...toilet paper.

[@DarwinianUniversal]

haha lol

[@markhouck5258]

Really Enjoy Listening To You and How Straight Forward You Are (No Punches Held) Thank You For Your Time and Knowledge!

[@Loyalspartan3]

Jim Rickards is a mindblowing character always love hearing his word on this stuff

[@michaelbarrett8803]

This is one EMP pulse away from going away. Crypto is not a replacement for Gold.

[@bigburci]

Probably it will, if we will keep up this trajectory of technical advancement. Perfect money for a level 2 intergalactic civilizations. You won't carry gold or anything which weight more than a single debit card to the Moon or Mars.

[@jeffsingleton88]

@@bigburci or a chip in your skin. fuck that.

[@joshuajames2425]

Lol if a emp comes you won't be worried about ur money trust me..everything in modern life is run on the internet and I do mean everything!!! So this emp argument against crypto is completely useless and very uninformed

[@douglasprostock7086]

while i agree with your bitcoin analysis you are totally uneducated on Ripple XRP and its exchange capabilities between other currencies

[@imperioromanooccidentalper5546]

that's right

[@digitalplanet6842]

You tell'em He's way off the mark about XRP

[@imperioromanooccidentalper5546]

@@digitalplanet6842 REAL USES CASES, ENERGY, TRANSFER'S SPEED, RICKARDS IS WRONG

[@birinhos]

Xrp is too similar to Fiat. No future. Btc is the One.

[@imperioromanooccidentalper5546]

@@birinhos xrp has limit supply?

[@rogerthomas3802]

There is PAX Gold Crypto that runs on Ethereum platform where you can buy fractions of gold.

[@cosmosaic8117]

If you don’t hold it you don’t own it

[@SSS-sw1po]

I like how he says everything negative about gold is untrue and debunks it, then makes a bunch of untrue statements about cryptocurrency. Maybe follow through and debunk your own garbage?

[@centurion8446]

It's worth mentioning the issue with VISA etc is they can shut you out for wrongthink, so while there is an issue with concentration of ownership Bitcoin (and some other cryptos) don't have the issue of a credit score system.

[@kevalan1042]

Bitcoin is not based on "factoring prime numbers", it's based on hashing. Ether is not proof-of-stake yet. Really badly researched.

[@UsamaOmar23]

Ethereum is not proof of stake!

[@kevalan1042]

@@UsamaOmar23 -- yes, that's what I said.

[@UsamaOmar23]

@@kevalan1042 Yeah saw that after I commented. It was poor research of your comment 😂 But I def agree

[@patrickmcfly3264]

LOL....shuss don't tell joker jimmy :P

[@johnjones4502]

The future of money is paper because it is the most reliable and easy to exchange without being trapped in an unjust system when it becomes extreme.Does not mean the people who have digital fiat won't do battle with underground savers dodging the system.In fact most of them well have cash also.Gold and silver are real money but scarce.If people want it the price will rise.So you save it tell it becomes more valued in cash.Depends on how thrifty you are.

[@ralphraymond2017]

He should speak with Tim Draper to gain some much needed knowledge about the digital revolution we are going through.

[@williamwanklyn9365]

Two years later, Bitcoin at $6,700. You are looking at a basic value store here. Volatile still, but the whole thing is volatile now. Gold, yes, Bitcoin, also. If you need to move significant sums in 10 minutes anywhere in the world, Bitcoin is the network for you.

[@shanghainoonsmomlovesblack3761]

It was an interesting watch...until he pulled up the slides showing the books hes desperate to sell. Catchy headlines; world government, war, world currency, doom and gloom, I get you, no thanks!

[@forcemajeure1731]

Hi. Has Jim Rickards ever mentioned which crytos he recommends? Many thanks

[@84wildstyle]

Don't expect him to name a specific crypto. He said enough here: kzbin.info/www/bejne/f2XboY2jbK-fp7c - the COINN method could help you recognize the good ones. I chose for myself Stellar (XLM) some time ago and seeing now his COINN function I see he is right.

[@delbertcox6310]

Would like to see you and Aundreaous on the same stage the king of crypto.

[@mihranhakobyan467]

Miners cannot steal Coins. "An attacker that controls more than 50% of the network's computing power can, for the time that he is in control, exclude and modify the ordering of transactions. This allows him to: Reverse transactions that he sends while he's in control Prevent some or all transactions from gaining any confirmations Prevent some or all other generators from getting any generations The attacker can't: Reverse other people's transactions Prevent transactions from being sent at all (they'll show as 0/unconfirmed) Change the number of coins generated per block Create coins out of thin air SEND COINS THAT NEVER BELONGED TO HIM"

[@knightgern]

We can't buy bread with gold.

[@craigmanning2439]

You can from me! I'll sell you all the bread you want for say 1/10 oz a loaf.

[@ryancikovsky6641]

You can, goldmoney.com

[@jsamuel5266]

Currently price of crypto assets are valued in terms of fiat currencies. If crypto currency replaces fiat currency, how do we price crypto currencies?

[@poeselitoblack6174]

Best option: Gold backed crypto #Karatgold coin #Karatcoinbank

[@Dracona713]

scam alert

[@kar3n35]

Buy land get out of city. Forget gold forget crypto.