🔴 Bitcoin , Gold, and The Future of Macro Investing (w/ Dan Tapiero)

Dan Tapiero, co-founder of Gold Bullion International, has grown increasingly focused on the potential for crypto to reorganize the entire world. In this conversation with Raoul Pal, he defines what bitcoin really is, and explains why he sees bitcoin as the future of investment even in the face of a possible recession. In Tapiero’s view, future generations may remember the creation of the internet as a critical step towards building this new system of currency - rather than seeing it as fostering greater centralization for a small group of companies. Filmed on July 9, 2019 in New York.
#Crypto #Bitcoin
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The Future of Macro Investing (w/ Dan Tapiero)
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Transcript:
For the full transcript visit: rvtv.io/2xdIDmo
DAN TAPIERO: Right. And I understood that, and I was with you on that. But that started a process, I
probably spent 400 to 500 hours reading, listening to podcasts. There's some really excellent work out
there now available. That wasn't five years ago. In terms of explaining what is Bitcoin? What is this
phenomena? What is it? And what I've come to see is that almost every person has a slightly different
definition for what Bitcoin is. And I think that that's contributed to making it very difficult to adopt easily.
And so, what do I mean by that? So, I thought, okay, let's get down to the very essence of this Yes, I
understand digital payments, store of value, reading all this stuff. But what Bitcoin really is, is that white
paper, and you go back, and you read this thing, and I don't understand even half of it. But what you
realize is that this is a great invention. It's not a coin. It's a system.
The Bitcoin Revelation
It's not a blockchain and maybe it's an invention akin to the motor engine, or invention of electricity. It's
something potentially a new organizing principle for humanity. And part of the problem was that people,
when they start really digging into Bitcoin, they end up saying these kinds of things, which really puts
everyone off, because you're thinking, well, this is a madman changing the world, all of this stuff.
So, as a macro guy, I come at it, macro investor, I'm thinking, well, what's the value of it? What's it worth?
The difficulty I always had was trying to put a value on it. I need to know what I think it's worth today, and
what I think it'll be worth in three, four or five years and have a proper fit framework. And I found that very
difficult in '14, even listening to some of our contemporaries talk about it. I didn't quite get it.
It's because Bitcoin is a lot of things. So, what it is, is it's an invention. And I think it should be referred to
as an invention, rather than all the other things. What it really is, is it's a truth machine. It's a way, in a
way, to eradicate all fraud, or lined by human beings. The whole bigger concept of certainty, of
confirmation, of validity, of security. That's what you're buying- a system that now is 10 years old, has a
tremendous track record.

[@antextra300]

My fav video of the last 6 months. It's cool to see REALLY smart people when the "light turns on" makes me not feel crazy, Bitcoin is as big as i think it is. Great interview!

[@GreatSolarBear]

As a blue collar, this is the BEST Interview I've seen in years about Bitcoin

[@torydutton9148]

Great interview. It's about taking the time to understand. Many describe it as going down the rabbit hole. At some point, you realize there is no doubt the world is going to change. It's just a matter of how long it's going to take.

[@mmpofficial8967]

bitcoin is the future watch it grow in value, i keep making my earnings with team George despite the fluctuations.

[@mmpofficial8967]

@Jefferson Wayne this guys are expert traders in btc mining and crypto ,due to my experience in tradings i so much believe in them and ever since i started trading with them have been making cool profits.

[@mmpofficial8967]

@Douglas Barnes am not bragging i can attest to it, they are the real deal feel free to reach them at< [e-mail]> then see how happy you will be with your self and recommend them to people as well.

[@jack-ls3rs]

@@mmpofficial8967 wow you trade with team George also? this guys are really making tradings easy for their investors, i think they are dominating the trading zones, keep the good works guys kudos.

[@ivorychapel5735]

@@jack-ls3rs i think they are genius because i just received 1 btc from them last week, God bless you guys real good.

[@cryptoengineer9930]

Educate yourself on Bitcoin you will soon realize its massive potential for the future. Gold will be a valued asset but Bitcoin will change lives. What's that worth?

[@leevancleef358]

He is right about Gold investors being similar in thought process to BTC investors. Argument is not BTC vs Gold...I think if you are smart you buy both...as a hedge to govt and central bank and banking system decision making, greed and corruption.

[@ligneusbc.955]

Good to see Bitcoin getting the next level recognition it deserves. As Trace Mayer recently said "its a once in a species opportunity".

[@user-hc5hy3lm7k]

Blockchain of nothing (Bitcoin) is as close as you can get to being an empty bag holder. The Ponzi creators are laughing it up selling their pieces of nothing.

[@ligneusbc.955]

You are obviously don't know what a ponzi is or how it works.

[@ligneusbc.955]

When you give in and buy at the top of the next cycle ( because everybody else is getting hilariously rich) come to me and I'll sell my btc (hardest and soundest money there has ever been) to you. Then when we have an 85% correction I'll buy it back from you. Then you can really hate it!

[@user-hc5hy3lm7k]

You obviously don't know you are suckered into a Ponzi. You are bragging about your blockchain of nothing empty bag. Nobody needs to give in to buy an empty bag LOL

[@user-hc5hy3lm7k]

A blockchain of gold would have value. A blockchain of tin would have more value than a blockchain of nothing. Even a blockchain of toothpicks would have more value than a blockchain of nothing. You can pick your teeth with it. Only blubbering idiots and those fooled by scam artists would be dumb enough to buy a blockchain of nothing. Pay $20,000 for an empty bag? Must be a blubbering idiot.

[@marekja180]

Highly suggest to read the book - The bitcoin Standard

[@norrismasters2629]

My favorite video from a Macro guy. Wow! I got to listen from a non-tech person but a finance guy like me! Excellent!!!

[@AltcoinDaily]

Great conversation 👍

[@cmw3737]

Bitcoin's innovation is primarily a brand new near incorruptible anti-cheat mechanism. It doesn't matter how much bitcoin you own, you still can't capture and take control of it which means people can put their trust in it over time knowing that nobody can decide to shut it down or change its structure in the near future and invest accordingly. That can act as an anchor for a whole economy to built on top, once it has stabilised.

[@DJ-Illuminate]

Listened to your video three times trying to figure out what traditional macro investors are thinking and what drives them and you two being early adapters in a more traditional business environment. Very interesting. This validates my early thoughts on altcoins. My thoughts? Bitcoin is software. Ethereum could merge into the Bitcoin Lightning Network as part of a new form of operating system. In this vain IPFS could be the new HTML protocol that is also added as a layer for secure communication. In other words, Bitcoin could become a part, like a Lego block, to a world wide system. But I agree about the future valuation of this. When Bitcoin was $200 I became interested in it, studied the white paper (and was also baffled by the sheer complexity of it) . Being 62, I worked on the Internet as a web designer before it came out. I invented my job while in college. I ran into the same thing with people not getting or understanding email and the internet. Those that did understand it were few but occasionally I would see the lights turn on and it was exciting to watch. I had engineers tell me that video would never fit through a pipe that small, we could never go faster than 28.8 modem speed, yadda, yadda. I wrote them off as morons (I was young). When I explained to my boss that people would be watching small videos on portable devices (1994) he thought I was crazy. He emailed me in 2009 to apologize. My credentials I guess. Bitcoin and Ethereum are the two main innovations and maybe Monero due to the privacy aspect of it. I tried to get our company to accept Bitcoin payments in 2016 but they laughed at me and I suppose felt validated when the drop happened after the run up. But, altcoins are my retirement program. Yes I have a traditional 401K but I expect that to be wiped out by the coming crash and devaluation of the dollar as will social security. I considered buying physical Gold but the manipulation by the government makes it suspect. So, as the traditional in-system products crash to zero altcoins will rise in value exponentially as capitol tries to find safe haven. Right now they are going to bonds but when reverse interest rates bite into these large companies they will pass the loss to the consumer and the consumer will be forced to bail out and be faced with a decision to either buy physical gold and silver or get outside of the system with altcoins. This won't be pretty. I hope this crash can be put off until after the 2020 elections but I assume many want Trump to lose and will possibly even use the economy as a political tool in order to do this.

[@AislingMonahan]

Steve Luiting thanks, I’ve been trying to decide what to do with my savings and so Much advice pointing to buying physical gold and silver. So your preference us BTC, LTC and Monero.

[@antoniobastos780]

Long live the Bitcoin protocol and may those who stack Sats today, harvest the fruits of tomorrow.

[@joefunk76]

Yes, absolutely, the Internet formed the foundation for bitcoin to become implementable. In turn, bitcoin will become the foundation for nearly every other commercial system. Like the Internet, but even vastly more so, the implications of bitcoin on the future of society are beyond what we can comprehend at present.

[@johnrfeeney]

this is unreal - exactly how i have been explaining it - on par with electricity’s invention

[@mattbradley1716]

"it may end up that Bitcoin isn't what gets spent". Well, with pension funds no longer buying annuities that afford a quality of life in retirement, retirees are going to be leaving their pensions invested in volatile funds such as north american equities and using draw down during bullish times. So why wait until retirement? HODL Bitcoin now, and use a coinbase card or equivalent to spend your gains during bullish times.

[@Brian-vk1hm]

Bitcoin was not an invention but rather a discovery.

[@tvardalos]

People ask where all the money needed for $1trn bitcoin market value would come from? His answer: silver, gold, countries with negative interest rate (Europe, Japan, US soon), countries with predatory governments (Venezuela, China, Iran, Turkey etc), billionaires and millionaires hedging against quantitative easing (QE), and institutional investors discovering the best performing asset of last 10 yrs.

[@smb2265]

WILLY WOO to me said it best---"Investing in crypto is like buying into Google or Facebook even before they hit the public markets It’s a really bad analogy as we ain’t buying Internet companies. We are buying protocols of finance upon which the future will be built upon What would TCP/IP stock be worth if it was investable? It would be like owning the AT&T network, except the entirety of modern civilisation, every business and person, would be 100% reliant upon and paying rent Similarly investing in crypto is like buying the railway lines. We collect gains as more cargo is carried on the rails we own Except app coins are NOT rails, they are cargo. Only protocols can be the rails. Only protocols have the strong properties we are looking for as investors Protocols will not trade like an ordinary market, they will trade like an adoption S curve. Beware of those who call the exponential climb of the first half of the adoption S curve as a bubble. If you invest in a protocol that fails to win, then sure, it will crash and commentators crying bubble will be vindicated But if you invest in the winners, they will exhibit the S-curve in its 10 year price history. So a good strategy is a diversified portfolio of protocols that have the potential to win This is likely will need an active investment strategy for now, as we are still very early... new protocols and challengers come out all the time. It reminds me of the 8-bit microcomputer era of the 1980s "

[@traerhodes8323]

Dude-Got REKT Dude quotes Willy Woo; dude is in the know people, listen up!

[@jimihendrixx11]

How about Security Tokens? Asset-Backed or Tokenized Assets?

[@rambam3116]

Bitcoin miners are time stamping, not securing. Its everyone running a full node that is verifying the integrity of Bitcoin. Securing the whole system, is the built into incentives! Timestamping, veryfying, using/hodling, it’s all these things together securing the value of BTC.

[@mooredann69]

Miners also secure the network from 51% attacks. The more the miners the more expensive attacking costs.

[@bslangable]

This is just an absolute GEM of a channel, great work!

[@mikedemasi5137]

Great video and ty for bringing this content without trying to sell a prescription to a news letter to us.

[@howimade3309]

ppl gota get with the times...crypto is taking over. andreas will explain bitcoin the best.

[@oliverli9630]

i first spent time on learning bitcoin through youtube recommendation. let's get videos like this hot to the algorithm!!!!!!! and then if we watch other types of videos too, people of other realms will be notified.

[@vincentvega8321]

Absolutely amazing, thanks so much for sharing this on youtube !!!

[@mrleebaines8611]

Something brilliant when there's two geniuses in the same room.

[@drummerdorcas]

It is fun to believe that Satoshi Nakamoto was just one Super Genius. Pretty sure it's a large group that came up with this though. Possibly even a government

[@Simirial]

That's BSV, not BTC. ForkWars

[@goodluckwithallthat]

@@Simirial LOL BSV is the original BitCoin. Forkwars are real, but the slimiest people are involved in the BTC chain. DYOR

[@navajorezathlete1202]

Probably some time traveler or an ancient diety

[@edland8778]

This video is amazing. Thank you. Please, could you put all name drops into the video description text or here in comments? I must look them up for research.

[@Daniel-qt1br]

Gentleman, thank you for this video. I agree with your views and completely understand the path that learning about BTC takes you on. It is quite the educator and it is philosophical. How ever, when normal people talk that way it comes across as “nuts” because as well as BTC providing an amazing education BTC is also an education that ignites passion, thus we like to talk about things we are passionate about. My point is, I can now direct other humans to this sort of content, presented by obviously successful educated humans saying the same things and this assists BTC to be taken a little more seriously amount the other humans as it now sounds (from you) a little less nuts! Thank you very much for creating this.

[@Daniel-qt1br]

In regards to educating, a round table with dan, yourself and people like - trace Mayer (fundamentals) bob Loukas (cycle trader) saifedean Ammous (Austrian economist) all discussing the different layers of BTC in an education platform not yet seen. How exciting!!

[@lianlight8447]

gosh I loved this, thank you

[@gaving1755]

This is the best Interview I have ever seen about Bitcoin, Dan breaks it down in a way that is crystal clear! Real Vision is priceless!!! This video would probably cause mass adoption if it somehow got out to the masses!

[@Nonconceptuality]

Would LOVE to see Charles Hoskinson interviewed by Raoul.

[@nigelp567]

Dan is totally right....Btc changes EVERYTHING....

[@dexterfandango]

Great video. Dan worded things in a way I can pass this video on to people that don't understand my explanation of Bitcoin.

[@crashmonkeyz]

This interview is gooooooooooooood.

[@MikeVeracity]

Absolutely inspirational! Thanks for sharing.

[@unrewritable]

He sees it. His eyes have opened and he has seen the truth. Welcome to the real truth NEO. 😁

[@BenBerryboss]

Great video guys. Thanks for sharing :-)

[@rolandmanning8151]

Thanks, great value!

[@YoungGrizzly]

Bitcoin is the US dollar in digital form. Two points that show this are. 1. It is used to trade for goods and services. 2. It has smart contract capabilities much like the SEC.

[@revbrighteous9889]

Bitcoin = a system for people to control their own money, and be their own bank, in a manner that's censorship free and irrefutable. That's what gives it value.

[@p.m.8316]

not only money, anything of value.

[@messifpv]

Real Vision is top quality content! We need some of that on YT! 👍

[@chseeling]

loved the interview, but one comment, the stock-flow model is not complex maths , it is a two parameter correlation

[@shellya224]

There are few men who are expert in trading i count Denis law as one because of his unique trading strategy

[@Valenpresh]

I agree with you , Denis is an expert in trading

[@valenpresh6130]

His intriguing strategy works every time, cutting losses and ensuring winning, I love the ease of communication he offers with his swift response to emails. Not even a single glitch when time comes to withdraw. What else could I hope to have in a contract trader.

[@thomasmorris1259]

wow you guys also trade with Denis Law too?, that guy is a genius he keeps making huge profit

[@rodrigob4043]

I've come across Denis Law name so many times can anybody link me on how to contact him please guess i'm ready to trade now.

[@climbaron3798]

I really lost all before he came to me,and today I'm 1BTC Richer. Something you wanna know, inbox him at < denislawtrading@gmail. com >

[@shawn4692]

If you have really dug into Bitcoin why no discussion on the fact that it doesn't scale well, energy usage, quantum computers and encryption, hacks, tiny set of use cases. This ultra bullishness surprised me and made me realize realvision is myopic

[@SAL-fs1mr]

Bitcoin has the best scaling in terms of validation since pretty much any computer or laptop can run a bitcoin full node. For scaling throughput, we are already seeing actual results with the lightning network. Energy usage is how decentralized consensus is achieved, other methods of consensus are less secure. Quantum computing isn't a big deal, it just means bitcoin would need to upgrade to have a quantum resistant algorithm. Bitcoin just needs to focus on being money, pretty much all other use cases can be built on top of that.

[@rambam3116]

Discovering Bitcoin puts many people on the path to shitcoins. Grokking shitcoins puts you on a path to deeper understanding of Bitcoin.

[@fredflinstone8750]

Ram Bam Yes once you realize they are all shit and the real use case and network effect is already in bitcoin

[@seriouslyyoujest1771]

Still my favorite interview.

[@joefunk76]

He spent 400-500 hours reading about bitcoin? Wow, must be nice to be able to do that instead of needing to work!

[@Bignition]

lol @ you

[@bslangable]

That IS work

[@navajorezathlete1202]

Thats what it takes to become a person that has that kind of luxury with time. In essence bitcoin and just plain investments in general buys you time. Thats the root of why we do it.

[@malthus101]

But what are we buying? Why is it priced in US dollars? Why couldn't central banks create their own crypto-currency, or rather, what would even be their incentive to do so? What would we do with our ownership if it became this new, "global trust system" - would they even allow it to be traded at that point? What benefit to owning it if not for commerce at that point? Many unanswered questions.

[@beastmode615]

Did he almost say Chainlink at 36:48?

[@bslangable]

or Vechain;)

[@emilio027]

RVF - stellar, concise and extremely informative. many thanks.

[@zatoitchi1302]

Excellent interview

[@ivarivano]

Great interview! Thanks.

[@superkevinking]

36:53 was he going to say Chainlink??

[@jaja6489]

I think so, I think him perhaps auto censoring is so bullish

[@666gene]

Bitcoin is Its a platform of trust.

[@sciflyer67]

Not trust, VERIFY

[@InlineHD]

It is TRUST. Information can be flown Naturally, without needing a middle man to verify it.

[@sciflyer67]

@@InlineHD Nodes VERIFY transactions which eliminate the need, and weak link, of trust. TRUST involves middlemen. You trust that the bank (middleman) has your money instead of holding it yourself. You trust the stockbroker has your shares because you don't hold them yourself. You trust the Gold is in the vault because you don't hold it yourself. When the trust is broken, you are left with nothing.

[@666gene]

@@InlineHD 3rd entry accounting

[@joefunk76]

David The industry term for that property is “trustless”. It’s not “a platform of trust” as you do not actually trust the strangers on it anymore than you do ones not on it. It’s a trustless platform because it does not rely on trust to work in the first place.

[@michaelkroy790]

@9:24 "I feel attacked"

[@michaelp3951]

Fantastic interview, but the elephant in the room is how can miners be paid, after block subsidies decline, when BTC does around 5 transactions per second?

[@michaelp3951]

@@SaNbLuXoN I don't think that makes sense. Why would entities mine and lose money? Mining is expensive. Mining at a loss doesn't seem very much in line with "self interest" either.

[@svenvdw4894]

@@michaelp3951 the gametheorie is that when the last Bitcoin will be mined (in 2141) the value of the Bitcoin network should be so high that the reward of the fee you earn to confirm transaction will give enough incentives to keep the network going.

[@michaelp3951]

@@svenvdw4894 In 9 years time it will be less than 2 bitcoin every block. BTC faces certain death

[@davidgross2684]

so well put

[@sanzc3566]

Greatest investment for future.

[@julienbooth90]

Get Roy Sebag and Tapiero on per the recent RV you all had...fantastic

[@davonthompson7113]

🤦‍♂️ the value of bitcoin is priceless if they only have 21 million bitcoin and it the first of its kind and we have 7.7 Billion people in the world 🌎 you can’t put a piece on that if nobody transact in bitcoin ever and all the bitcoin been ⛏ it’s not worth money 💰 any more it’s worth freedom

[@rainmaker704]

I think max kellerman explains bitcoin great.

[@derekjameson4226]

Someone with a brain in the “normal” world

[@yatapote]

41:32

[@dancasey9660]

Educational system for Bitcoin, something like the Options Industry Council.

[@Samklemens]

I hope you get Plan B in here

[@kings288318]

Bitcoin is programable money just like Ethereum. Any attirbute that any other blackchains claims to have, bitcoin can also adopt it with time. What makes bitcoin unquie is that no one person controls it and it is truelly decentralized.

[@bootysweat6310]

True

[@pascalxus]

Great interview!

[@randyliz3325]

Love it

[@BuenavistaNZ]

You should do a podcast 👍

[@SeecretWeapon]

16:30 Byzantine general problem apparently was solved by Lamport et al in 1982

[@Kid_Ikaris]

it's fun to go back and watch Raoul before he was a bitcoin super bull 🐂

[@post85]

why reach out to the transitional investment world? They had a an advantage on the last system. Reach out to the people instead. That would make it revolutionary and perhaps change the game.

[@martinsteinmann3747]

Once in a species opportunity? So Dan missed the first wave of speculation and now bets on the second? With the outlook for real returns zero or negative all around, it is easy to understand that fund managers are desperate. Fool me once shame on you, fool me twice shame on me. What if the theory of Bitcoin taking over the existing financial system in a gargantuan crisis is just a story, a story to create a second peak for all those who missed the first? To assume that something like Bitcoin would replace the existing financial system, something that can be created and live in the long run outside of existing institutions and power structures seems highly unlikely. The right to issue currency was taken from private banks first by the Bank Charter Act of 1844 in England, which exclusively gave that right to the government. Assuming that the small amount of $200b in speculative assets put into Bitcoin would reverse that seems ridiculous. Much more likely is a regulatory crack down. The trend is the other way where the banks could loose the right to create credit, which de-facto creates new money every time credit is granted. The 2018 Swiss Sovereign Money initiative (referendum) is a good example of this. While it did not pass this time the initiative seems to make a fair argument, saying that the public should be paid interest for the privilege of creating new money. This small change would finance all the social programs we now say we cannot afford. Why are banks allowed to create money from nothing in the first place? Debt forgiveness will be real and it has to happen at an international level and in unison. To go from there to the assumption that the power structure to be would allow the abandonment of FIAT currencies is a huge stretch. The path of least resistance seems to be for the different central banks to buy up this debt. Inflation is not a necessary bi-product if its done in unison, but the need to re-distribute wealth will be. The necessary ingredient for this is an upgraded political system as a prerequisite for revising the financial system.

[@JR-jj2dh]

In Bitcoin we Trust Buy BTC

[@weslataw8515]

If it is that secured, why there is a crypto/bitcoin hack, scam or stealing all over the places? One more question to add, lets say you have invested a significant amount of money in crypto/bitcon and what would happen if goverments wanted to ban crypto/bitcoin in their countries (forget about future innovations or advancements in technology that excels bitcoin)?

[@nano.joe.4851]

Weslataw Exchanges that sell crypto have been hacked. Bitcoin itself has never been hacked or 51% attacked ever.

[@ThePorschefan]

Imagine Ray Dalio in Real Vision finance

[@wolfofdubai]

That would be amazing! I am vlogging daily about finance & stocks, pass by when you are interested in value content!

[@fromdusktodawn509]

Bitcoin is great for many things, including salesmen.

[@fromdusktodawn509]

@whitey bulger jr. Government issues debt, and exchanges the newly created currency for goods/services. This pushes forward demand and provides a supply of debt denominated currency to stimulate economic activity. The currency is not meant to hoard, unlike bitcoin.

[@bisiriyutajudeen5728]

@@fromdusktodawn509 Currency is also not meant to be debased either. We're in this mess because of government issued-debt and excessive money printing. According to you, economic growth based on debt is the path forward, like the concept of not spending and borrowing what you don't have had never worked before nor stimulated economy growth.

[@666gene]

@@fromdusktodawn509 Bitcoin isnt Currency its hard money

[@kimdotnet2110]

meanwhile, april 2020.... well.... you guys know.

[@xd_____z8253]

What is the best platform to invest in bitcoin in the USA?

[@navajorezathlete1202]

Try coinbase

[@karamyogsingh8275]

i got interested when it was peaking. mind blown along with bank account. but a happy hodler.

[@Lex41127]

The long term chart looks very bullish..

[@SpaceTimeTurtle]

F A N T A S T I C video :):)

[@DavidKaarby]

As I understand, it costs about 5% per year to keep BC running, that is very expensive, I hear that there is some fraudulent activities with BC, also if you loose your key you can't recover your BC, as long as you get ppl to buy it, BC will go up, I don't understand it and has a hard time to believing in it, good luck to you all BC holders, I am holding Gold and Silver in case the internet goes down.

[@fredflinstone8750]

The internet won’t ever go down. It is too robust at this point just like the bitcoin network. Satellite connections for bitcoin are here and mesh networks are being developed, you can even send a bitcoin transaction over ham radio. If there was a nuclear war that wiped out half of the world and internet bitcoin would still work

[@D34TH.D34L3R]

If the internet goes down, which it won’t, you’re going to have a lot more problems than whether you are you holding bitcoin or gold. Plus the internet is just the first layer of infrastructure. Satellite, HAM radio, plus many more layers will be carrying bitcoin as they develop.

[@jimihendrixx11]

Ticker is BTC or XBT

[@Tommy-dr5qs]

Eric Smith you don’t need to understand it. You prob don’t understand how the internet works but you use it. In its simplistic form: it’s the most secure platform ever created, its a platform of trust where trust is not needed because the algorithm can not be manipulated, it has a currency (BTC) that can’t be inflated, it is going to revolutionise payments because it will facilitate payments without the need of 3rd parties, the payment network is only one app, and many more valuable things will be programmed on top of it, once it can scale. Don’t be put off by the price. If it had been programmed to be 21 billion instead of 21million, the price would be $7.50 today. Doesn’t sound so expensive that way, does it? It’s scarcity gives it value and nothing (not even gold) has a definite scarcity, Bitcoin does.

[@navajorezathlete1202]

Its people like this that didn't watch the video

[@YoungGrizzly]

I swear this guy could be cast as Superman's older self.

Cool 😎 cheers from Portugal 🇵🇹

[@pastexpiry2013B]

Most bticoin mining takes place in China. What's to say that one day China just decides to take over the miners?

[@Felipe-db3fr]

Nothing happened. :)

[@trudymcmurrough6243]

Freedom party! Terms of the plan: For any given year of Quantitive Easing all USA citizens are FULLY EXEMPT from any and all federal income tax for that year. Run with that. As Warren says, it puts the incentives in the right place.

[@Lytsout193]

This is a real good channel, subscribe and hit the like!

[@dweller6065]

Any "currency" that depreciates 85% in a single year cannot be considered a store of value. Yes, Bitcoin is a wonderful SPECULATIVE opportunity.

[@kacangkacang7741]

It depreciates from the new ATH yet is still way way higher than the previous cycle ATH, and no stocks in the world market can outperform bitcoin since its inception .

[@NiallC]

37:30 Lightning Network allows millions of transactions occur within consensual Channels, and when the channel closes, the final balance of the million transactions is settled as a Single Transaction onto the Bitcoin Blockchain. Reduces transaction count and network congestion at BTC Layer1 and keeps 'blockchain bloat' ar bay.... amongst other benefits. Buy BTC 👍😊😉

[@muurish1]

Crypto currency? sure.. the future is amongst us... Bitcoin vs future Crypto - SELL... idk when..

[@goodluckwithallthat]

Bitcoin is quite the rabbit hole! I personally am heavily involved in BSV investing and within BSV’s wonderful community. I trust Bitcoin SV to be the original Bitcoin, and I will partially explain why I feel that way. This is not something I weighed lightly however, and only after many hours of research in late 2017 helping me arrive to this conclusion. The SegWit version of Bitcoin (BTC core) is not Bitcoin. Bitcoin Core might have the ticker symbol, but Satoshi Nakamoto was ingenious on many levels, and he quite literally designed the protocol to be a regenerative disease to those scuttling in the dark. When you look beneath the surface you begin to see why so many have sought to change Bitcoins properties to represent a much darker realm. It’s refreshing to see smart people start to come to understand this as well. Do not overlook BitCoin SV. Amazing things are happening on the protocol right now! It’s very exciting to be involved in, and many are anticipating Satoshi moving his SegWit coins and BCHABC in 2020.

[@chrissolutions]

Correct

[@goodluckwithallthat]

Chris Waldron 🙌

[@thomase5943]

he says similar things as BSV proponents aka. BitCoin users say btw...

[@hed7996]

Amazon doesn't just sell stuff on the Internet, major part of its revenue is from AWS(Amazon web service that they provide to so many companies) the cloud stuff

[@davonthompson7113]

Lightning network is good but Centralize you can Transact on the regular blockchain that takes longer or lightning network which the transaction be confirmed by the sender and the reserve put to the side until the miners put it in the blockchain

[@fredflinstone8750]

Davon Thompson How the F is lightning network centralized? I run an lnd node and trust me it is not centralized at all and in fact increases decentralization by incentivizing people to run their own bitcoin/lnd full node stacks.

[@D34TH.D34L3R]

Lightning is not centralized at all. In fact, lightning plus many more second layer solutions will only make bitcoin more decentralized.

[@user-ym4ny4sk6b]

He Gets It!!! lol

[@NiallC]

Has Dan any jobs going? I want to spend my days talking as passionately as that about Bitcoin 😅😅