Sound money, bitcoin, and gold on Wall Street with Ray Kamrath

In this episode, Ray Kamrath, Chief Commercial Officer of Bakkt, shares his journey from Wall Street to embracing bitcoin. Starting with a light-hearted recount of riding scooters and breaking his arm in Austin, Ray narrates his first encounter with bitcoin and the concept of sound money. He contrasts gold and bitcoin, explains his decision to join Bakkt, and he explores the potential for an institutional driven bull market. Ray offers insights into political interactions with bitcoin, valuation methods, and a potential monetary reset. The discussion also covers collaborative custody, differentiating bitcoin from other cryptocurrencies, and Bakkt's future trajectory.
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TIMESTAMPS:
00:00:00 Introduction
00:01:20 Who is Ray Kamrath?
00:02:38 Riding scooters and breaking arms in Austin
00:03:36 Ray first hearing about bitcoin
00:07:50 Talking about sound money on Wall Street
00:10:37 Gold vs bitcoin
00:11:36 Why join Bakkt?
00:16:15 An institutional-driven bull market
00:22:20 Government and bitcoin
00:24:39 How do you value bitcoin?
00:27:20 Monetary reset-what does it look like?
00:31:30 Which countries will influence the market most?
00:38:30 Collaborative custody and a network of keys
00:42:18 Bitcoin vs crypto
00:45:47 Where is Bakkt in 5 years?
00:47:10 Where is bitcoin in 5 years?
00:48:54 Passive flows, MSTR, and bitcoin
00:50:41 What’s something you believe that most bitcoiners would disagree with?
00:51:47 What’s the biggest risk to bitcoin?
00:53:59 Closing thoughts
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→ Bakkt’s Twitter: x.com/Bakkt

[@unchainedbtc]

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[@Income-Easy-Work]

You're a true luminary! 🌟 * "Success isn't dependent on the dictionary, but on the diligence applied."

[@Money-Easy-Plan]

This video is genuinely inspiring! - "Embrace your dreams with unwavering determination and boundless enthusiasm."

[@Securethemsats]

This guys voice sounds like Eric Weiss

[@Ducotevision]

Coming from 2016…. Bakkt has a terrible reputation inside the Bitcoin and crypto community.

[@ADL1998-]

How come?

[@Ducotevision]

@@ADL1998- I would say you’d had to be apart of the unveiling and expectations that Bakkt promised and placed on themselves then quickly launched and it was a nothing burger… they had an app and now it’s gone… but overall they just failed to deliver and was our first taste of the “institutional wave” that completely missed and miss understood the space.

[@TheBitcoinBlock]

Gold is a worthless shiny rock. Idolatry.

[@Ducotevision]

It’s not and you’re naïve to think that it’s worthless… in apocalyptic or global disaster our “internet money” will be worthless. Gold will be gold like it has since the beginning of time… meaning it will always have value… relative

[@TheBitcoinBlock]

@@Ducotevision Gold not scarce. Not desirable. An ancient religion proven defective. After apocalypse, gold will get you killed, Bitcoin will get you respect. Can’t steal Bitcoin. Can’t seize it from a corpse.

[@TheBitcoinBlock]

@@Ducotevision Gold is not scarce or desirable. Infinite amounts of gold in the universe. Gold is hard to store, hard to transport, an incentive for violence. Gold will get you killed. After a cataclysm, Bitcoin will get you respect, allies, and anything else you need. It’s a network protocol for peaceful warriors. Gold will show you to be a selfish, loser, who is unworthy of community. A descendent of Caine. Bitcoin can’t be seized by force. It’s mobile. It can’t be counterfeited. It doesn’t make you a target. Bitcoin crosses all borders with ease, and Bitcoin can be moved without the internet. Bitcoin. Ammunition. Toilet paper. Seeds. This is value after apocalypse. Gold would be dead weight.