Comments
Transcript
-
jsPlan B's real identity is Javier Bardem
-
DRAsh, I appreciate that you brought up counter points to the bitcoin bull case, but isn’t an obvious risk to bitcoin the existence of other cryptocurrencies, some of which address the problems (scale, speed, efficiency, forced stakeholders) in bitcoins inherent design? People should know that bitcoin is cryptocurrency, but cryptocurrency is not bitcoin.
-
TPI've been in the crypto space since 2011. The decline was proof that Bitcoin is a store of value, Bitcoin, Gold and other easily liquidated assets declined due to massive margin calls spilling over from equities. This problem was made worse by BitMex, whose liquidation engine went rampant trying to reduce risk for the exchange. The main problem, of course, is that BitMex doesn't use a standard secured collateral arrangement--they treat your position as part of their risk controls. They'll liquidate you at a given point, and if market slippage is large, they'll use other users accounts to fund the difference. Its a slap-dash way to manage risk, and in this instance it created a negative loop that was interrupted only by direct intervention. With the Federal Reserve opening swap lines to foreign banks, commercial credit bailouts, and essentially printing non-stop to plug the rush for liquidity, Bitcoin will show its strengths--namely not diluting or devaluing its purchasing power like the USD. The USD index has reverted from its spike, and with foreign demand eventually ebbing there's a good chance in my view that the US Dollar reverts and inflation comes roaring back in force---after an initially deflationary event in asset prices which we're seeing now, especially in oil. The future is bright for Bitcoin, especially after the reward halving event. Annual inflation will be extremely low, even compared to other currencies. Great video, just wanted to add a few points.
-
TPI feel like much of this stimulus is a bail out of landlords. Very often landlords, both commercial and residential, are leveraged. Their business model relies on their tenants not all defaulting at once. They are short correlation, to use the derivatives vernacular. The current situation will result in tenants on a mass scale failing to pay their rent on time. Thereby forcing landlords to default on their loans. The stimulus should include provisions to prevent tenants from being evicted. The landlords should be allowed to deleverage or (shock!) lose money and run a business model that is less dependent on leverage and an implicit backstop by central banks / governments. This won't happen.
-
IPThis must have been taped around 8 or 10 days ago, I believe that most of us are not interested in having a stable flow of videos (i.e. one video a day), but we are interested in having fresh videos, I would have preferred to see the Dan Tapiero part immediately and the rest as it was taped, I have very little time as it is, seeing something Dan said 10 days ago is not so great, too bad because the guy is great.
-
IPtaped on???
-
PDA quick shout out to RV/Ash Bennington. This guy has produced a couple of good pieces now, asks good questions has good grasp of the issues, etc... That's probably not a coincidence. In an interview format, the questioner makes a difference.
-
SSAsh Bennington has really stepped up sine the WFH situation at RV. Bravo Ash. Hope to see more and more of you in the future.
-
APDan's bemusing epidemiological tourism aside this was a great interview and I'll be watching this one again. I don't recall anyone drawing attention to the widening spread between physical spot and paper gold. If GLD can't keep up and you can't get a hold of physical because 1) you're locked in (even DTap evidently) and 2) there isn't any to be had anyway...then BTC REALLY start to become relevant. Great stuff Ash - btw you've got some serious 'nihonteki' going on there....natsukashii.
-
ASWould be super helpful to stamp the date the interviews are recorded as so much happens in a week. Then we know these are the views of the expert at that point in time. Great interviews, thank you.
-
CHTo all of you who still wonder "why Bitcoin?": Bitcoin is *not* a piece of open-source software. If it was, then there would be thousands of Bitcoin networks out there. But there aren't. There's just one. So here's the thing: Bitcoin is a movement. It's an ethos that promotes reliability, predictability and self-sovereignty. It's the antithesis to the Silicon Valley mindset of "move fast and break things". Bitcoin is a world class brand backed up by a devoted community and by some of the smartest developers in the world. It's just about the only project that's ever been created where the inventor(s) did not do it to become rich. Anyone could participate from day 1 on equal terms. No pre-mined coins, no majority shareholder. And that's still the way it works today. These things are not replicable. No other crypto project will ever be able to "be Bitcoin" better than Bitcoin. The soft parts about Bitcoin is where the market value comes from. However, if some new technical feature comes a long in another project that is truly useful in the context of sound money, then the Bitcoin project will implement that feature. The hard parts of a project are much easier to copy than the soft parts. That's "why Bitcoin".
-
WWThis is a very nice video. Can one of the Crypto experts explain the risks with "51% Attack" ?
-
PSKey properties of Bitcoin: 1. Unconfiscable. If you remember 12 to 24 words of your seed phrase, you can reinstate your bitcoin wallet anywhere anytime. You can cross the borders without any properties, only the seed phrase in your head. Whilst your house, gold and money in the bank can be seized at the "moment of need", your bitcoin is unconfiscable. 2. Reliable store of value. The monetary policy of maximum 21m bitcoins is encoded in the protocol. Imagine they could not print more US dollars because the technology encoded its fixed money supply in the base layer of the protocol. 3. Decentralised. Trustless. Open. Permissionless. Always online. Bitcoin network will always be there in the internet and you can voluntarily transact with it. Nobody can shut it down. Nobody can restrict the service. You can voluntarily opt into the new system. Yes, the technology still has a few more milestones to tick like 1. adoption with every online merchant, 2. immediate transaction (scalability and speed) and 3. user friendliness for mainstream user BUT there is a plan and a massive intelectual and social capital deployed to improve the cryptocurrencies and financial infrastructure. Some of the smartest people in the world are working on it. I have chosen plan B with 30% of my net worth. Rest is cash and trading (yes I am shorting Google) and enterpreneurship. Trust yourself and inform yourself.
-
jsWhy cant I see find this on the App?
-
ZMBitcoin will not be the value protocol of the internet. For anyone actually interested in the protocol for digital value please check out The Interledger Protocol, (including all of you over at RealVision). ILP. https://interledger.org/ Feel free to ask me for more info. Crypto will change the world in the same way the internet did, but it will be on the back of ILP, which will be the router for value.
-
JICan you do a video about ethereum and defi? Love the content thanks for making it!
-
DS"the real interest rate, and look at the 5yr as an example has gone up even as the FED has been easing. So we went from -80 basis points to +50 basis points because of the drop in inflation expectations" -40:10 Can someone please explain more what this means, and what is "the real interest rate"?
-
TCOk but not much new. Holding 50% drops is not a strong investor rather a wishfful investor. Bail in not relevant as this is not a banking crisis. Finally the concenses is buy gold and Bitcoin. Always wrong - so the med term money is elsewhere 😁
-
JOAn ongoing side issue is the difficulty of getting fiat into crypto. Plenty of new investors in plenty of countries would give it a shot if their banks and central banks were not so hostile to crypto exchanges having a receiving bank account. Even in jurisdictions like Japan and Singapore that have made positive noises about crypto and the services and software industry that it supports.
-
MGBrilliant! Just love this. Thanks for making this happen at just the right time.
-
CLFor the sake of historical precision, assignats were in existence during the French revolution, not before (though it was indeed in the 1790s; the revolution started in 1789). They were not among the causes of the French revolution (not sure if that's what he's implying, it's not clear), they were a feature of it. They lost all value eventually though, which I guess is the main point. https://en.wikipedia.org/wiki/Assignat
-
JWLike the format, RV ! Even though I heard not much new - apart from the somewhat chocking statement by PlanB about banking bail-ins , especially knowing his day job is PlanA ! :-) - this video emphasized the role Bitcoin plays as digital money. We are seeng currency debasement in action. Surely this must undermine confidence in fiat currency. I read a twitter post the other day where someone was saying ‘why do we pay tax if the government can just print money’. Why do we indeed!. Equities are becoming more and more risky. The Bond markets are being undermined by helicopter money and ensuing inflation. Oil is going to 10 or less plus has a limited shelf life due to alternative energy. Traditional Finance is being deconstructed under our noses, plus whatever was left of ‘trust’ is being actively undermined even further. So, what investable assets are left? In fact, quite a few; BTC, Gold, other precious metals, not sure about soybeans and orange juice but I guess coffee is not a bad bet :-), a 1960 Ferrari Dino, antique furniture, whisky and wines (and rum for Raoul :-). Hell, I just bought another bitcoin.
-
cmIf the gold supply halved in a day, the market wouldn't notice. Daily trading is circa $145 bn and new supply is around $500m. If you create large quantities of a new asset, such as an EM currency, you have high inflation and it devalues. If you have low inflation (Swissie, Yen etc), you get stability, not capital appreciation. Nor would you expect it. S2F will not work on bitcoin because growth is linked to demand, not supply. Low supply is why we all showed interest in the first place, because if it were high, few would reasonably expect capital gains. Low supply is great. Next, and to create riches, bitcoin needs to now get out there and boost demand. Innovation, network, utility and adoption are the key factors for growth. Bitcoin is a tech stock, not digital gold. @AtlasPulse
-
NAThat file cabinet is bumming me out
-
BPPrison coin will end up being the most repressive thing in the history of mankind. It's the beginning of the BEAST system. WAKE UP!!!!!!
-
CJTake out i) Dutch guy a) halving coming up b) Bail=ins - don't keep cash! Great warning ii) Dan - OK this was a week ago but he has no idea about the human cost of this. Health consequences trump economic ++ . The health situation is absolutely disastrous - it is really really scary. We will run out of ventilators and people like you are going to be left to die because someone 5 years younger than you will get priority. This is why we need the lockdown. As a medic about to be drafted having received the basic training, I am shit scared. Most people have no idea how bad this is.
-
BSCrypto continues to lead risk assets and follow excess liquidity leading indicators... Watch for that to break and the true bull case develops, imo.
-
CTBitcoin (BTC) is going go be the biggest winner of all this. Give it a couple of years to capitalize on the chaos.
-
AHI don't understand why people say bitcoin has no return. On the right exchange, you can get a TON of interest on it
-
RPI loved this. I found it super valuable and exactly the analysis I needed at this juncture as I add to my own bitcoin investments..,
-
MSWhen was this recorded?
-
SLHi all. I'm linking a twitter thread that I did a while back in response to Nic Carter's great article on EMH & bitcoin which was written as a part of the debate around whether or not the halving was 'priced in' and therefore the viability of stock to flow. Indeed, demand is central to the S2F model but static demand moving forward isn't a reasonable expectation. In fact, recent events have caused a clear spike in demand from 'new bitcoiners' which makes perfect sense - it was built for an environment like the one we're seeing now with literal reference by the global reserve currency to 'infinity'. Currencies are all being devalued relative to scarce assets. Demand will continue to grow and that 'new demand' will interact with a decreased 'new supply'. My thread deals mostly with why demand will continue to grow and why the halving - as apiece of information - isn't priced in: https://twitter.com/SeanPLavery/status/1213634490985267200
-
MOLOL at Dan's Hair. Really embracing that quarantine style...love it. Great analysis guys. For those who are interested in bitcoins technical market structure and recent price action, I found this article very enlightening: https://multicoin.capital/2020/03/17/march-12-the-day-crypto-market-structure-broke/
-
MSWhen was this filmed please?
-
KSBitcoin is Anti-Fragile ---- it will come out of this stronger than it was before.
-
AKI love this format. You have very smart guests and you get to the point extremely quickly! Super digestible with nice overlap on the points that matter. More focus on the risks would be great because we all know there is a super strong positive case for the asset already. Otherwise, an amazing piece!