This guy is completely blinded by his bias for gold. Somehow he thinks gold is not a volatile market?

Oh dear, when I ever I hear misinformed people criticising something the don't know much about it makes me want to buy more of it. This is the akin to the Krugman and his the internet is just a fad like a fax machine type interview.

Can this guy get more biased towards gold?

Bitcoiners seems to be missing the point. When you manage X millions of somebodys money you don't go all in in bitcoin.

A 72 years old guy is trying to tells us his opinion about bitcoin vs gold. By the way he works 50 years in gold industry. If you just knew only these informations without seeing the video, you would made the obvious conclusion that he will be pro gold. Half of his life was lived without a computer and today's kids do not know a world without a personal computer. I totally respect his experience but i believe this person is not fit to even discuss about bitcoin. Please next time bring more software engineers in order to know the true problems that bitcoin could possible have in the future. Bitcoin is the reason that this guy could lose his job, i am sure that he don't like bitcoin and when his 30 years sample of bitcoin data would be complete, he would probably not lived in this world.

PLEASE stop this ignorance - DONT’T DO another interview on a subject of which the person ONLY has an opinion and is not an expert (e.g. ALL wallets have been hacked)! I’m not interested in paying for an (uninformed) opinion - that’s what Fox / CNBC / BBC does for free.... Valuing Bitcoin the same as ALL the other “altcoins” (ethereum, litecoin, cripple, etc.) is saying you should value gold the same as all other commodities...?! What an insult to Dan or Kaplan that would be - or a whole generation that believes in gold? THE IGNORANCE IS THICK WITH THIS SESSION!!! Get an expert on, like Trace Mayer or Caitlin Long who work in the Bitcoin space, not “has an opinion on “cryptocurrencies”.

Wow! This guy is so ignorant regarding 'blockchain v. bitcoin". I think it's obvious that this guy didn't make any money on the gold move since 1971. He will pass on his gold coins to his grand-kids and they can display them on their office shelves (they won't be using hand-trucks to haul his gold around). I would prefer to place a bet on something (or nothing) rather than observe something for 40-50 years and then die before I can make any money on it! He should be more worried about the money he spends on renting suits, shirts and ties for future interviews...is frumpy coming back? What have I missed?

How is gold an investment? Gold is money, not an investment. Saying that gold is an investment is like saying that the dollar or the euro are investments.

Truth, but i don't like gold much either.

Someone who still talks about "cryptocurrency", especially vs. Bitcoin has a superficial understanding of Bitcoin, at best. Bundling and conflating Bitcoin with all other crypto shows an ignorance of the space; his 'apples to banjos' analogy is most fitting on Bticoin vs. all the other 'cryptos'. His reference to volatility of bitcoin is a bit naive. Firstly, bitcoin volatility has been decreasing every year since inception. Also, how could a new form of money undergoing market capitalization in an open, hostile environment be anything other than volatile. The important point is that volatility should decrease and settle over time (as it has been doing). Over time Bitcoin has more predictability vs. gold; how much gold was produced yesterday? Nobody knows. How much bitcoin was produced yesterday; everybody can verify immediately, independently. His reference to blockchain not Bitcoin shows again that he has a superficial understanding of the space. Blockchain is one of several necessarily ingredients in it's value proposition including proof-of-work (mining) and difficulty adjustment and the fact that it is relatively decentralized (and increasingly so). Private 'blockchains' are garbage and at best a waste of time and effort; I hope he 'invests' in some of those.

Seems that Bitcoin investors are financiers of a child pornography ring in Thailand.

I think that the beginning of this video should have come with the disclaimer that Mr Milling-Stanley is an employee of the company that manages and markets GLD. That way everybody would know this was far more a marketing piece and not independent objective analysis.

Only argument George makes against BTC are its young age and the idea that it's trying to become a store of value after failing to become a medium of exchange. The hypocrisy given that gold has in modern times failed as a medium of exchange yet has done very well as a store of value makes me wonder why he uses that point at all. BTC has a future chance of becoming a medium of exchange after it becomes a stable store of value, and the tech to do that is being developed today. He says all the cryptocurrencies' wallets have been hacked -- this is absolutely not the case. He admits the blockchain has never been compromised, which is all he had to say on that front. Nothing close to the counter-arguments we needed against Simon M.

'Blockchain' is not secure by definition. Wrong assumption. Security of any given cryptocurrency or blockchain is a function of how decentralised the network is, how vigilant and robust the developer network is, and especially, how much hash power (for proof of work blockchains) is backing it. Bitcoin and maybe Monero are the only cryptocurrencies I would regard as secure, based on their record so far, and current levels of decentralisation and hash power. Having said that, both have had more than a few critical vulnerabilities that have relied upon the talent, integrity and processes maintained by the OSS developer network to avoid loss of funds.

he didn't understand bitcoin. bitcoin is a sound money, a form of money that is much more 'sound'er than gold. -- this is a simple objective fact. but hold on, most ppl, don't even know that BTC is NOT bitcoin, lol.........

When Fed insiders deign to comment on bitcoin you’ll notice they never question it from a feature perspective except to say 1. It makes it harder to stop bad behaviour (or strictly speaking behaviour that is deemed bad by the state – which at times has included things like rum and helping slaves escape) and 2. It makes it harder to implement monetary policy (i.e. surreptitious taxation in the form of seigniorage). Neither of these are bugs...they are features. These guys and gals work with money and know it when they see it. And they recognize Bitcoin instinctively as money – though they can’t bring themselves to admit it. So, what is money? Read David Graeber, Jared Diamond or lately Ammous – historians and anthropologists are pretty good at this. Money evolves – something starts as a rare curiosity to become a collectible. That scarcity causes it to become coveted - wanted - which increases it's value, so it becomes a store of value. When enough people recognize its value, they being to willingly trade it (i.e. it becomes a medium of exchange). Money is ultimately a technology – one version is supplanted when a superior one comes along. Gold is a current version along with fiat. Bitcoin now has a 10-year record – one that surpasses everything. The question is not settled yet, but it’s off to a good. I won’t broach the other items raised in this interview except to point you to Saifedean Ammous’ book. It’s all there – you’ll find a clear and comprehensive rebuttal. The IPO comment was a non sequitur. I have no ideas how it's relevant at all. That someone as thoughtful, intelligent and experienced as George Milling-Stanley hasn’t cottoned onto what bitcoin is yet tells me one thing - I’ve got some time to quietly accumulate. The rest of you go about your business - ignore bitcoin if you want. No, please do.

What? There has been a free market in precious metals since 1971?! LOL. It's as true as it is true that owing GLD is the same as owing gold.

Bitcoin is up 100% this year alone even after a 30% drop. It has been rising since 2010 and is the hardest money mankind knows and will have a huge market by 2025. Its Sharpe ratio beats everything. By far the best investment of the past decade. Are you betting against it now at 11? It's extremely Luddite to dismiss it. BTC can't be stopped. The genie is out of the bottle. Sorry gold bugs, you can accept it or not, but BTC doesn't care and the network keeps working and growing. Read Trace Mayer, Saifedean Ammous, Andreas Antonopolous. Check the Stephan Livera and TFTC podcasts. BTC is the Internet of money. Freedom.

I want to know when George's health routine IPO is, he's 72?! Looks more like 50

Ok boomer 🤣

i waited for this...it was BAD 1) the price of Gold is not a free market when you can create gold derivatives out of thin air greater than the annual mine supply in a short period of time to hammer the price down. Please interview Graig Hemke of TF Metals report to stop this BS contention. 2) the ETF GLD is not a 1:1 relationship, it is leveraged and manipulated. Again interview Graig Hemke if you want to give your viewers the truth. HIS presentation was just varying degrees of the truth or falsehoods Gold is manipulated by the Banks a) it makes money for them and b) it serves the government because it makes the dollar look strong relative to gold so they have no reason to stop it Quit putting these Ass clowns on who don’t tell the truth!

Voted this up because I feel on the whole, a lot of good points were raised. Where I nearly fell off my chair in shock was when George asserted that all crypto wallets have been hacked. I'm sorry, but this is utter BS, and demonstrates a lack of even basic understanding of the underlying architecture. No Bitcoin wallet has ever been directly hacked! Exchanges have been hacked, passwords stolen and funds siphoned off, but this only serves to illustrate why one should take custody of their own Bitcoin and not leave it in the hands of am exchange. I also found myself switching ofd when the "Blockchain not Bitcoin" meme was quoted as if by rote. The fact is Bitcoin is the longest running and most heavily secured Blockchain by a country mile. It's also never been hacked; despite George's assertion to the contrary. I say the following as Gen-Xer, not a Millennial, but when George stated he would need at least 40 - 50 years to determine whether Bitcoin will become a strategic asset, my response was/is that you have to be in it to win it! I say this as somebody who hold Hold as a strategic asset, but would it not make sense to hold 1-3% of your net worth in Bitcoin in-case your reasonably well-argued position of doubt and scepticism is wrong? If not, you'll miss it. Of you're wrong, you'll still have yoir Gold coins to pass on to your Grandchildren (wouldn't it be hilarious if they traded them in for Bitcoin ;) ). Regarding the volatility, at least Bitcoin has trended up and to tje right over the last decade. Also, you can take advantage if indicators such as the Mayer Multiple to accumulate at low points. Any value in excess of 75% is the buy zone for me. As a final note, I would like to say that the war against Bitcoiners and Gold holders is a pointless one. We all share many of the same perspectives and opinions, re. Sound Money. Why fight over which one is better?! It's completely counter productive. Respect skeptical souls like George for his age-enhanced perspective of history. Attacking people like him is not worthwhile - you will not change his mind if you deploy this tactic. Instead, why not take the view that maybe, just maybe, Gold and Bitcoin may both have a worthwhile and important future role to play, and own both. To counter George's skepticism, here's a recent presentation showing Mark Yusko at his finest: https://youtu.be/gTg6LkUi-DM

Stanley touts GLD etf as legit because it has over $49 billion invested in it over 15 years. Bitcoin has over $136 Billion invested in it over 10 years. If he were to look at the two with an unbiased eye, how should he vote? Clearly BTC should be the winner.

Another legacy commenter who doesn't understand BTC. But that's OK. It is quite complicated. We should not underestimate just how complicated and how multidisciplinary Bitcoin really is. I mean you’re talking about thermodynamics with hardware, you’re talking software computer networking. The latest advances and distributed systems, economics and game theory which is a huge portion of all of this. Bitcoin’s the real deal. The results speak for itself - BTC has TOTALLY crushed Gold since 2009. It is extremely naive to think its second decade of life will be any different. BTC is just starting. Pointless interview.

The point is well made that only 10 years of experience you can’t make a forecast . However it is far worse than you say -Bitcoin has only traded in an economic environment! What would it do in inflation, hyperinflation, recession, depression,wars, and high growth periods.

nonsense

Blockchain without cryptocurrency is just a slow and inefficient database.

A fairly superficial set of views on both gold and Bitcoin, not my cup of tea

This interview felt very rushed and tense, and I don’t think it was George’s fault. The format is unappealing. I understand this format saves on production costs, but would it be possible to have a normal two way conversation format instead? Doesn’t matter if the interviewer isn’t Ed or Mike, anyone will do, but a conversation format is much more pleasant to listen to. Feel like I need a Xanax after listening to this.

"The factors that change the price of gold can be hour to hour, day to day..." Milling-Stanley. This sounds very unstable, yet the volatility of BTC price is the reason he thinks it is not legitimate? As for time, we can't hold that against BTC since it was recently discovered, but don't all legitimate entities have a beginning, weather gold, silver, U.S. dollar, Amazon, Disney, Boing, General Motors, etc.?

"We will go in all direction" is Milling-Stanley's description of BTC. Perhaps he should take a look at the logarithmic chart of BTC since inception. He will see a very predictable and stable looking chart, that if one was not told the name of the stock, anyone would agree it is very stable and predictably upward trending stock. In fact, if you had a chart like that for any IPO on the NYSE or Nasdaq, any analyst would say "BUY" with both hands.

Milling-Stanley states that crypto exchanges have been hacked and that is somehow related to if BTC is a legitimate entity. That is like saying if gold jewelry and gold coins and bars are regularly stolen, that gold is not a legitimate entity. The fact that it is stolen actually legitimizes the value because people don't steal things of no value, for the most part. Art is always stolen, does that mean art is not a legitimate store of value?

Milling-Stanley boasts about purchase of gold at $40 in 1971 and today it is $1500 per ounce. BTC was less than $0.01 in 2009 and today is at over $7,000 per BTC. "Hardly a comparison" is an understatement if we were to use his words.

So if Gold's IPO was 1971, 40 years ago, and BTC hass 11 years of IPO since it is also not correlated to money as per Milling-Stanley's own words, there is only a 30 year separation between the two.

You seemed confident in your statement that there was a fortune in gold in a vault in London. Australia has a fortune in gold in London but auditioning it is problematic for the custodians.

Is it bitcoin week again :( ?

George, Once all doubt you and everyone has about Bitcoin is gone, its price will either be zero or very very high. I'm happy to hold what i have and buy once in a while. Same as i do with gold.

On a positive note George has a definite view on Crypto and a vested interest in Gold. In reality the same reason Gold my increase in value is the same reason Crypto may also increase. He is clear and direct in his points and certainly they make sense in the financial world since the 1970, since Gold was cut as a banking asset to currency. But things may change, change despite huge central bank opposition to a ctypto world where decentralised money is the norm. He may be right in timing - it may happen slower than we wish unless the population insists on it. At this point George has valid points but he needs to be a little more open to change.

Ok boomer! BTC FTW

the bitcoin believers will hate it but he makes valid points, it's not a medium of exchange, it will never get to a transaction volume that will allow it to be used as money, there is no reason to believe that it is digital gold other than that is what the heavily invested would like you to believe. Fiat is in trouble, but bitcoin isn't the answer.

Finally someone who "gets it" logically and tactically.

Not a good interview