The Role of Crypto Post-Coronavirus

Published on
June 10th, 2020
Duration
55 minutes


The Role of Crypto Post-Coronavirus

The Interview ·
Featuring Arthur Hayes

Published on: June 10th, 2020 • Duration: 55 minutes

What will be the impact of COVID-19 on the way people think about money? Arthur Hayes, CEO and co-founder of BitMEX, joins Real Vision CEO, Raoul Pal, to discuss the future of money and his experience in the crypto space. He talks about building the crypto exchange BitMEX, the potential for increased adoption of digital currencies in the wake of the coronavirus pandemic, and his view on Bitcoin's future trajectory. Hayes and Pal break down their macro views on precious metals, currencies, and the new dynamic between China, Singapore, and Hong Kong. They also touch on decentralization, stable coins, and crypto's privacy issues. Filmed on June 4, 2020.

Comments

Transcript

  • TM
    Todd M.
    13 June 2020 @ 14:44
    I am curious why people think it is so difficult to buy crypto? Plenty of apps exist like Coinbase, etc.
    • YK
      Yada K.
      7 July 2020 @ 20:15
      Coinbase outside of USA isn't that great. Really low limits and KYC is slow.
  • TZ
    Tibor Z.
    15 June 2020 @ 02:38
    Back in 2016 I wanted to buy Bitcoin. That time it was nearly $400. I don't really remember now but I couldn't open an account somewhere, I wanted to buy. Ripple was my other speculative bet which turned out the biggest performer in the whole sector. I could have now everything I ever wanted. I think I missed that boat forever. I never chase prices. Behaving and patiently waiting is the key. Don't feel the FOMO.
    • ZR
      Zach R.
      21 June 2020 @ 20:31
      If you don't own any, then any price is good.
  • AW
    Aaron W.
    14 June 2020 @ 03:05
    "We believe this firm has been providing financial services or products in the UK without our authorisation." Financial Conduct Authority https://www.fca.org.uk/news/warnings/bitmex
    • MH
      Michael H.
      14 June 2020 @ 23:59
      "without [UK] authorisation"... yeah, that's kind of the point, is it not?
    • AW
      Aaron W.
      15 June 2020 @ 21:33
      He sold billions of dollars of unregistered securities (futures contracts) to U.K. residents.
  • MD
    Matt D.
    15 June 2020 @ 05:54
    I'm glad Raoul made the comment he did at the time with 26min 30 sec to go - Central Banks controlling money and controlling behaviour - in response to the comment that "I don't think people really care...." (if Central Banks control the supply of money). Justification using (Mr Hayes) Facebook experience is naive. As is the expectations on China and Hong Kong. An odd trust in Govts?? I am still trying to get the point about his exchange and margin. Again Raoul pointed out the problem, but the answer didn't address it. The solution of not having seat holders ? The initial margin is all you can lose and the max payout is the total margin in the ecosystem? That works if you take the other side of the trade (the exchange taking the other side) doesn't it? And not pay out in full (I think that example was given - instead of $100 profit you get $50) - early assigned? I thought you might have been structuring binary options for your derivatives but no - though your overall risk is slightly similar. 200 basis points or 200% ? Make the spread or make the "discount" or "premium" between the spot and "futures". I am not trying to be pedantic or critique Mr Hayes, just trying to understand. Good on him if he found some dudes in the Caribbean who were clueless enough to offer a futures-spot/cash position with 200 points? discount/premium with no holding costs if that's what it was. I will investigate the comments again and the transcript to try and understand. Thanks for the interview Raoul.
  • CP
    Constantin P.
    10 June 2020 @ 22:18
    Can we get Andreas Antonopoulos on RV please?
    • Md
      Matthew d.
      10 June 2020 @ 23:48
      Second this - he would be a great guest!
    • SW
      Sarah W.
      11 June 2020 @ 08:31
      Thirded.
    • RD
      Reginald D.
      12 June 2020 @ 00:13
      Fourthed. Please get Andreas Antonpoulos on RV!
    • BB
      Breg B.
      14 June 2020 @ 12:57
      Fifthed
  • AW
    Aaron W.
    11 June 2020 @ 04:29
    Raoul interviews someone whose company operates an unregistered futures securities exchange that is being investigated by FCA, CFTC and SEC. He also said bitcoin would hit $50,000 by December 31, 2018. Why is this published on Real Vision?
    • DB
      Douglas B.
      11 June 2020 @ 12:57
      They are a Singapore company. They do not allow US customers due to regs. All those US reg bodies are going to do what?
    • AW
      Aaron W.
      14 June 2020 @ 03:07
      Read https://www.fca.org.uk/news/warnings/bitmex
  • ta
    tomas a.
    11 June 2020 @ 16:24
    Comment section provide equal, if not greater education than the interviews themselves. Love it.
    • LS
      Lemony S.
      13 June 2020 @ 19:53
      The same reason why protest so when Raoul says "we don't want XYZ comments on here, we don't care" ... that means it was a good interview to be exposed. By the way, Raoul did a great job in this interview. I wasn't impressed by Hayes though, he seems ok, but nothing he said seemed to be meaningful or insightful in any way. He seemed to say a lot without saying anything.
    • AW
      Aaron W.
      14 June 2020 @ 03:03
      He has sold billions of dollars of futures contracts (which are securities) to U.S. and U.K. residents. https://www.fca.org.uk/news/warnings/bitmex
  • NT
    Nic T.
    11 June 2020 @ 20:45
    IMO Bitmex is as corrupt as comanies come within in the crypto ecosystem, when factoring in its size. They may very well have adopted the socialized losses system of the Chinese exchanges but only in name. Somehow they are able to almost never pay out from that 'insurance fund', whereas the Chinese and other derivative exchanges have frequently seen their insurance funds wiped out, leading to payouts to customers, and socialisation of any losses over and above this. Insurance funds get re-grown over time, rinse repeat. As it should be. So, how does Bitmex avoid this? They will claim it is by having a superior matching and liquidation engine. Garbage ... Bitmex insurance Fund is basically a treasured comany asset, likely being built up for when they eventually cash out. Whenever there is a possibility of it actually being needed, the exchange suffers from a 'system overload' (lol), everything freezes, and only those with priority access are able to trade (ie Bitmex's own market makers). Bitmex have admitted trade against their clients and can see where their stops are at. Not a conspiracy ... Google it. Look how the fund seems to only go up ... except for those fateful few days in March when they actually had to start using for its stated purpose, then, oh what a coincidence, market halted ... https://www.bitmex.com/app/insuranceFund Hayes is a crook, not an entrepeneur, and it is a stain on the crypto community that he is lauded as much as he is. RealVision really need to get there act togetrher with regards to crytpo, or they are going to be leading a bunch of lambs to the slaughter by having guests such as Hayes on without doing adequate background checks on their activities. Raoul seems blinded by the light, dreaming of riches, when it comes to BTC, and I think this clouds his judgement, and as he admits, he does not really understand the technical aspects of Crypto - not many do and I don't claim to be one of them, but i do see the rampant criminality and ethical desert that exists within large parts of it. Which is a great shame as the ideals behind the product are sound IMO, but the bad actors need to be named, shamed and cast out before it ever really goes anywhere. Caveat Emptor re Bitmex. Hayes is the ultimate wolf in sheep's clothing in the space. Smart, sure, but his company is a scab that should be picked off for the benefit of crypto as a whole. Notably After the March debacle, where the systemic overleverage of the Bitmex platform nearly caused the whole market to collapse until Bitmex the brakes and turned on the circuit breakers, they have lost significant share, and rightly so. Some say they saved the market, but without them, it would not have needed saving ... sound familiar? Not such a 'new' financial system afterall ... Apologies for dopplepost - orignally posted as a reply to another comment, but posting alone for visibility. Expecting a hail of bullets pretty soon lol And in case anyone is wondering, no, not salty about losing money there, traded profitably there back in the day before I understood how they operated, but i would not recommend anyone to go there now as the liquidity in the spot markets is so low (which drive liquidation prices on Bitmex), and manipulation by insiders in now so extreme that the size of the scamwicks on Bitmex is beyond ridiculous, and is the worst of any 'leading' exchange. FWIW CZ of Binance is no better ... another charlatan, lauded as a hero for stealing money from the uninitiated. DYOR on these guys and their 'exchanges' ...
    • DP
      Dan P.
      11 June 2020 @ 22:45
      CSW up next
    • NN
      Nathan N.
      12 June 2020 @ 10:49
      100% agree. CZ might even be worse. Unfortunately, he has a cult following that praise his every self interested move.
    • SH
      Sahil H.
      12 June 2020 @ 11:46
      I agree Arthur is a crook the Liquidation engine coupled with the shitty transaction rate seems like its built to literally take peoples money but I still use Bitmex because its good for what it does and if you understand how to use the platform properly you can do so without losing all your money. Also I also thought CZ was the fucking worst person ever (as bad as Justin Sun the Tron Co-founder) but I watched a 2 hour interview with him and Anthony Pompliano and I was pleasantly surprised by his intellect. While he may do some questionable things from time to time. He's actually a pretty genuine dude and seems to have the best interest of the crypto community. Also Binance is a pretty solid exchange. I highly rate it
    • AW
      Aaron W.
      14 June 2020 @ 02:58
      Both Binance and Bitmex have sold billions of dollars of unregistered securities to U.S. residents.
  • JS
    James S.
    12 June 2020 @ 03:36
    Raoul, you need to do more due diligence into these people before interviews.
    • AW
      Aaron W.
      14 June 2020 @ 02:57
      The Financial Conduct Authority has an active warning against Bitmex on its website. Crazy that this video is still live on Real Vision.
  • bb
    brian b.
    12 June 2020 @ 07:58
    https://cointelegraph.com/news/bitmex-taunts-plaintiff-incorporated-in-seychelles-come-at-me-bro
    • AW
      Aaron W.
      14 June 2020 @ 02:55
      Why is someone under investigation for operating an illegal securities exchange on Real Vision?
  • TS
    Thomas S.
    14 June 2020 @ 01:00
    One additional point regarding Bitmex and other futures exchanges: The halvening in May 2020 was not the same as 2016. In 2016 mining sell pressure was cut in half. In 2020 with the addition of futures exchanges, the halvening was only 1/3, in other words with the additional sell pressure that futures put on the market to pay for fixed costs did not exist in 2016. The sell pressure from minors in May 2020 went from 1800 to 900 per day. Derivatives exchanges are dumping 1200 BTC on the market every day to pay for salaries and infrastructure. So sell pressure only dropped from 3000 to 2100. Futures exchanges are not the friend of Bitcoin. Just like to Fed, they are providing liquidity
  • TS
    Thomas S.
    13 June 2020 @ 23:47
    Two additional comments on Bitmex. 1) They have major issues on the order matching engine. With the billions they are making right now, this could easily be fixed with engineering. 2) with this 100x leverage, someone with $50million could definitely effect the spot price by controlling the order book and they can squeeze out the small players. Bitmex liquidity is the 800 pound gorilla
  • CC
    Connor C.
    13 June 2020 @ 15:51
    A lot of comments here and I'm not sure whether the following has been stated already, but: Bitmex represents one of the biggest selling pressures BY FAR in the Bitcoin market. Why? When exchanges collect fees from transactions, they need to sell at least a portion to pay for the costs of operations. A lot of the exchanges out there truly believe in the value proposition of Bitcoin, and this is represented by the fact that the exchanges retain a portion of those fees as their own Bitcoin holdings. A lot of these exchanges believe these holdings will appreciate over the long term. Thus, they only sell a certain portion of the fees collected back into the market to pay for operating costs and other long term initiatives. Bitmex, however, sells virtually all of the Bitcoin fees collected back into the market for fiat. Why? Because Arthur Hayes and Bitmex are in this market solely for profiteering. As such, Bitmex represents one of the biggest selling pressures currently in the Bitcoin market. Other exchanges like Binance, Kraken, etc. do not practice this policy, as they are truly invested in the long term vision of Bitcoin. They proportionately hold on to their Bitcoin. Bitmex does not. For this reason, and the litany of other reasons mentioned in the comments section already, Bitmex is NOT a friend to Bitcoin or the crypto market.
    • TS
      Thomas S.
      13 June 2020 @ 23:14
      This is an accurate observation by Connor
  • LS
    Lemony S.
    13 June 2020 @ 20:05
    Did anyone watch this and think, this guy says a lot but doesn't really say anything? I know people who graduated Wharton with him, he provides to me another example of the system of education is all about credentialing and luck (as in, he failed as a trader and then found BTC as the marketing scheme). With the resources we have now, it seems that "education" is worthless, too. It'll just box you in. If you are intelligent, you learn on the job, Taleb talks about this - real world practice vs. theory and expensive traditions.
  • TB
    Tobin B.
    10 June 2020 @ 23:39
    Raoul the reason we support Apple over Google is privacy; Apple and Google are not equal, even my younger sister switched back after learning where the privacy concern was headed. This is something we all should keep our radar as the young replace the old and invest accordingly. Thanks for a good talk gents.
    • RP
      Raoul P. | Founder
      11 June 2020 @ 00:27
      Me too. I don't even use Chrome. I use Safari for same reasons.
    • pS
      paul S.
      11 June 2020 @ 00:45
      Try brave browser
    • TM
      The-First-James M.
      11 June 2020 @ 00:54
      I second Paul S. Try Brave Browser or Firefox insteadnof Google Chrome. This will resolve 99% of your privacy issues. There are also browser add-ons like uMatrix that you can use to disable Google Analytics and Facecrap tracking javascript.
    • mB
      marc B.
      11 June 2020 @ 04:53
      Brave browser is the best and they pay you. I was Apple and switched to chrome and had so many bugs switches back and will never look back. Problem with Apple products are bloody expensive!
    • DP
      Dan P.
      11 June 2020 @ 22:50
      I have earned approx 40 BAT tokens since January 2020 from browsing which is $9 as of right now
    • SH
      Sahil H.
      12 June 2020 @ 04:28
      Another +1 for Brave. Would highly recommend
    • mi
      mitchell i.
      12 June 2020 @ 19:58
      Brave is by far the best choice, ad blocking is amazing, software is gold
    • JO
      Johnny O.
      13 June 2020 @ 11:29
      Browsers: PaleMoon (a safer Firefox) and Brave, with script restrictions and ad blockers. Importing and managing bookmarks on Brave is a defect. DuckDuckGo search. No Gmail, no Chrome in a million years. Tried an Android phone but the Google infestation was overwhelming and the apps demand access to everything about you to get off first base.
  • CJ
    Caldwell J.
    12 June 2020 @ 22:42
    There appears to be a lot of people in the comments section who went 100x leverage on Bitmex and got wrecked/liquidated.
  • SH
    Sahil H.
    12 June 2020 @ 04:47
    I'm glad this interview exists. I use Bitmex primarily because it has the most liquidity out of all leverage trading platforms in the crypto world (I'm pretty sure that's still the case) and it has been around for a while + I'm very familiar with its interface and how to use it so I don't get wrecked. Though I do agree with the sentiment in the comments below that Arthur Hayes is a crook. The combination of the Bitmex liquidation engine and the absurdly low transaction rates of the platform seems like it was literally built to take away peoples money. You'd think by now they have enough money to improve this? You're pretty much guaranteed that during any big move you won't be able to place orders or move SL's / TP's on the platform because its on overload. But yeah I'll still probably keep using Bitmex until Aurthur decides to close the platform, empty the insurance fund and retire with all that bitcoin. For anyone looking to leverage trade Crypto on Bitmex, I will warn you to be very careful with position sizing. Don't ever use cross leverage unless you're only funding your account with small portions of your total holdings that you're willing to lose. I pretty much never trade more than 10x leverage (you actually don't need to because the volatility in crypto is amazing). This means I have enough leeway if my stops don't execute on a move I won't get liquidated.
    • mi
      mitchell i.
      12 June 2020 @ 20:07
      "Though I do agree with the sentiment in the comments below that Arthur Hayes is a crook. The combination of the Bitmex liquidation engine and the absurdly low transaction rates of the platform seems like it was literally built to take away peoples money." I second that. all the leveraged exchanges seem to operate that way
  • mi
    mitchell i.
    11 June 2020 @ 04:43
    36% BTC, 59% ETH, 1% DOGE, 4% rotating altcoins (LINK,ALGO, XTZ, KNC, REN, WAVES, ZIL, XRP, BAT...)
    • jt
      john t.
      11 June 2020 @ 12:22
      They all move in the same direction the idea of a ‘diversified portfolio’ of crypto is ridiculous
    • mi
      mitchell i.
      12 June 2020 @ 20:03
      nobody seems to like my portfolio
  • sp
    spencer p.
    11 June 2020 @ 13:07
    get max keiser on or Simon Doxon
    • GC
      Guillermo C.
      12 June 2020 @ 19:03
      100% Max Keiser
  • TP
    Timothy P.
    10 June 2020 @ 16:27
    Love how Arthur just casually shrugs off the whole Hong Kong situation. "Hey, they'll build another financial center if needed." Easy for him to say, jet-setting between Hong Kong and Singapore. If China really got the urge to detain him (Say someone they didn't like was trading on his exchange), they could. And with the extradition law, he could be shipped to a mainland court where his rights are severely curtailed. I like Arthur, but its really annoying how all of these financial participants allow their greed to outweigh the situation in Hong Kong. To them, if they keep making money, they don't care what happens to the throngs protesting for democratic rule. As for "Stable" coins, they are an expedient economic lubricant because the current banking system is pathetically slow and archaic. Problem is, they're massively centralized and they only have a limited shelf-life in terms of how adoption will obviate their use. Also, the claim that Bitcoin is easily tracked is becoming less possible. Tumbling your transactions through CoinJoin, and the upcoming Schnorr Signatures code being merged into the main Bitcoin codebase will make chain analysis nearly impossible. Good interview, but I agree with others I would have asked about his matching engine's problems and how they dealt with it. It would be interesting to hear the post-mortem live, instead of in a sterile blog post.
    • SS
      S S.
      10 June 2020 @ 16:59
      Enter Zcash and Monero - Very difficult to track.
    • TP
      Timothy P.
      10 June 2020 @ 18:50
      @Steve S - sorry, but ZCash and its variants are not hard to track -- https://www.coindesk.com/crypto-forensics-firm-chainalysis-adds-tracing-support-for-zcash-dash
    • SS
      S S.
      10 June 2020 @ 19:00
      ''Shielded Zcash transactions are completely private. Like Bitcoin, Zcash transaction data is posted to a public blockchain; but unlike Bitcoin, Zcash ensures your personal and transaction data remain completely confidential. Zero-knowledge proofs allow transactions to be verified without revealing the sender, receiver or transaction amount. Selective disclosure features within Zcash allow a user to share some transaction details, for purposes of compliance or audit. Zcash also allows for transparent transactions, to accommodate for wallets and exchanges that don’t support private transactions.''
    • SV
      Santiago V. | Contributor
      10 June 2020 @ 21:04
      Damn it hurts how spot on this commentary is. Ouch.
    • TM
      The-First-James M.
      10 June 2020 @ 21:10
      Yeah, I got annoyed by Athur's comparison of China to Singapore. Singapore aren't committing genocide against an ethnic minority population by live human organ harvesting them!
    • SW
      Sarah W.
      11 June 2020 @ 08:37
      Add Taproot to that too.
    • HC
      Helen C.
      12 June 2020 @ 13:13
      Monero is a well developed privacy coin with a loyal following of developers & community. As for ZCash, the zk-SNARKs privacy tech looks close to being truly anonymous - the story goes that to be compliant with major exchanges KYC and anti-money laundering requirements: ZEC chose to run two transaction types t-address 'transparent' and z-address 'shielded/hidden'. Despite ZCash being almost 4 years old, the lion's share of transactions remain transparent 't' & therefore my gripe is it seems falsely associated with a privacy it doesn't afford users yet.
  • AT
    Andrea T.
    12 June 2020 @ 09:53
    With bitcoin, you can opt out the financial system, but you cannot opt-out the police, because the police can see everything you do with your coins. With monero, you can opt out the financial system AND the police.
  • DS
    David S.
    10 June 2020 @ 20:10
    The CBs may be able to confiscate much of the international banks’ leverage markets – maybe a good idea to restrict high-risk leverage. It is middle and smaller size banks that are necessary to make investment capitalism thrive. These banks invest with people and small businesses. They understand the clients and do not allow excess leverage. To the extent that big money-centered banks can build local bank networks that lend locally, they will survive. We need a yield curve that makes sense as a hurdle rate. Common sense. DLS
    • mB
      marc B.
      11 June 2020 @ 04:58
      Having one conglomerate bank run by the government will be give wayyy to much power. I think Werner said how important small & medium banks are to an economy. Changed my view. If there is just one we will have either too much lending or too little. Plus they approve who gets it. Whatever box you fit in. Sounds horrible.
    • DS
      David S.
      12 June 2020 @ 06:48
      marc B. - We both agree with Professor Werner. It is easy to see what would happen with the Fed being “The bank.” They cannot possibly do the due diligence for small to medium firms. If you wish to see what would happen, look at China. Small and medium size banks are the life blood of capitalism. DLS
  • WB
    Will B.
    11 June 2020 @ 01:07
    @Raoul and @Ash Please get people (@_Checkmatey_ or @behindtext on Twitter) from Decred to talk about it. It was launched by former Bitcoin devs in early 2016. After Bitcoin, Decred is the next best store of value bet as it - retains all the sound money properties of Bitcoin along with 21M supply cap - is more adaptive due to its explicit governance process(compared to Bitcoin's vague governance) - is 20x more expensive to attack on a per market cap basis due to it unique hybrid PoW/PoS consensus (https://medium.com/@_Checkmatey_/decred-hypersecure-unforgeably-scarce-e076b91a2be) - have a Treasury of their own and functions like a DAO where stakeholders can decide where to allocate treasury funds (https://proposals.decred.org/?tab=approved) - only network after Bitcoin to have Lightning Network; also have Privacy features and a feeless Decentralized Exchange to be released in the next quarter
    • MB
      MORGAN B.
      12 June 2020 @ 01:37
      Get Checkmate on!
  • sc
    sung c.
    12 June 2020 @ 01:35
    Bimex is the worst crypto trading company out there IMO. They should be outlawed! Does nothing but harm BTC IMO.
  • JF
    Jim F.
    12 June 2020 @ 00:57
    SoFi.com letes you trade crypto with a great UI! You should interview someone from there next
  • HS
    Hui S.
    10 June 2020 @ 11:54
    I agree with Arthur, in fact I was thinking the same thing the other day. Bitcoin absolutely needs Robinhood crowd for it to pump to 100k. And to trigger that we need a nice 1-2k green candle to get the millennials' attention.
    • tc
      thomas c.
      10 June 2020 @ 15:25
      I'm a boomer and it sure would interest me more in trading if I could just do it on Fidelity or TD Ameritrade platforms.
    • TM
      The-First-James M.
      10 June 2020 @ 17:04
      I thought Fidelity now offered Bitcoin trading in the US to a degree? Agree with the Hugh S that a sharp rise in price at this time through $10k would start ro bring in the Robin Hoodies.
    • DP
      Dan P.
      11 June 2020 @ 22:58
      BTC would need to drop sub $4k to get robinhoodies attention
  • AK
    Ado K.
    10 June 2020 @ 19:55
    Now Raoul was very polite as one should be to a guest. Let me present another picture of Mr Hayes and Bitmex. Bitmex earns money when you get liquidated, you get liquidated by Bitcoins price going up or down, depending on if you are long or short. You give up your Bitcoin to Bitmex when entering a position, Bitmex probably controls 100 of thousands of Bitcoin. Now here we have a unregulated derivatives platform from the bloody Seychelles, it is very unclear who is the legal entity that owns this platform and they earn money by price volatility on the very asset that you bet and that they hold. You do not have to be Einstein to figure out how big of a red flag this is. Their ability to trade against their own customer and just use the trade book as a jenga tower and push the buttons that are necessary for liquidation is a obvious risk to say the least. I genuinely believe that Mr Hayes is the one single individual who has done the most to keep Bitcoins price down, and that he alone is a big explanation to why we are at 10 K instead of at record levels of 20 K. If you enter this space, please do not be a f ing idiot and use these derivatives platforms, they are a one way ticket to Rekkt City.
    • DS
      David S.
      10 June 2020 @ 20:42
      You may be correct, but any knowledgeable investor should know this before sizing his/her bet. If you are not a knowledgeable investor, you certainly should not be in this game. This is the Wild West. Maybe the deepest end of the pool. This is capitalism in the raw. DLS
    • TM
      The-First-James M.
      10 June 2020 @ 21:07
      On this very note, a fantastic discussion can be heard here: https://www.stitcher.com/s?eid=69576115&refid=asa
    • SV
      Santiago V. | Contributor
      10 June 2020 @ 21:07
      It begs for regulation, which is the last thing the space needs in my personal opinion. It could put the movement back a generation. People consider appreciation in terms of fiat rather than supporting the disintermediation of fiat as a hegemonic instrument.
    • Md
      Matthew d.
      10 June 2020 @ 23:46
      Sounds like you’ve been watching a lot of Ivan on Tech (I’m a huge fan too btw)
    • SW
      Sarah W.
      11 June 2020 @ 08:34
      Use low leverage (no more than 3x), limit orders to catch the wicks, and stop losses once you're in position, and you can navigate your way through without getting "rekt".
    • ZY
      ZHENG Y.
      11 June 2020 @ 15:32
      Trading 101: always have a stoploss without being liquidated. If you want own real bitcoin, derivatives is not the way to do it. If there is no demand for their service, they wont exist anyway (despite legal or not)
    • NT
      Nic T.
      11 June 2020 @ 19:22
      Agree. IMO Bitmex is as corrupt as comanies come within in the crypto ecosystem, when factoring in its size. They may very well have adopted the socialized losses system of the Chinese exchanges but only in name. Somehow they are able to almost never pay out from that 'insurance fund', whereas the Chinese and other derivative exchanges have frequently seen their insurance funds wiped out, leading to payouts to customers, and socialisation of any losses over and above this. Insurance funds get grown over time, rinse repeat. As it should be. So, how does Bitmex avoid this? They will claim it is by having a superior matching and liquidation engine. Garbage ... Bitmex insurance Fund is basically a treasured comany asset, likely being built up for when they eventually cash out. Whenever there is a possibility of it actually being needed, the exchange suffers from a 'system overload' (lol), everything freezes, and only those with priority access are able to trade (ie Bitmex's own market makers), Bitmex have admitted trade against their clietns and can see where their stops are at. Hayes is a crook, not an entrepeneur, and it is a stain on the crypto community that he is lauded as much as he is. RealVision really need to get there act togetrher with regards to crytpo, or they are going to be leading a bunch of lambs to the slaughter by having guests such as Hayes on without doing adequate background checks on their activities. Raoul seems blinded by the light, dreaming of riches, when it comes to BTC, and I think this clouds his judgement, and as he admits, he dos not really understand the technical aspects of Crypto - not many do and I don't claim to be one of them, but i do see the rampant criminality and ethical desert that exists within large parts of it. Which is a great shame as the ideals behind the product are sound IMO, but the bad actors need to be named, shamed and cast out before it ever really goes anywhere. Caveat Emptor re Bitmex. Hayes is the ultimate wolf in sheep's clothing in the space. Smart, sure, but his company is a scab that should be picked off for the benefit of crypto as a whole.
  • MT
    Mark T.
    10 June 2020 @ 19:24
    While I'm annoyed by how long it takes to move money, I understand that for the most part it's anti-money laundering regulations that cause this. How does bitcoin get around this? Or is it a good place to launder dirty money?
    • TM
      The-First-James M.
      10 June 2020 @ 21:08
      Given how easy it is to track, it's a shit place to launder dirty money.
    • ta
      tomas a.
      11 June 2020 @ 15:13
      are you asking for a friend? lol
  • JP
    J P.
    11 June 2020 @ 00:30
    Robinhood is that slick app for millennials to buy bitcoin
    • JP
      J P.
      11 June 2020 @ 00:30
      I downloaded yesterday to see what all the hype about just bought some btc and eth
    • JP
      J P.
      11 June 2020 @ 00:31
      No kyc so far and very slick
    • pS
      paul S.
      11 June 2020 @ 00:44
      I would say Cash App for those in the States
    • JP
      J P.
      11 June 2020 @ 01:09
      Cash app is really good but only btc
    • ME
      Mina E.
      11 June 2020 @ 01:14
      Careful - Robinhood doesn't sell bitcoin. It sells bitcoin IOUs that you can't self custody. Use CashApp or another service instead
    • MS
      Matthew S.
      11 June 2020 @ 08:27
      Bought any HTZ yet?!?
    • AD
      Alexander D.
      11 June 2020 @ 15:11
      Not your Keys, Not your Coins. You do not own those Bitcoins.
  • JO
    JOHANNES O.
    11 June 2020 @ 13:12
    Great interview.
  • mB
    marc B.
    11 June 2020 @ 04:41
    Great conversation! The crypto ecosystem players are some of the most intelligent technologits. Also fascinating how many of them are very successful investors. Great hearing feet on the ground on Hong Kong. Sounds way worse on us media news. Fascinating how he likes gold as much as I do. Crypto is the future. 10 years from now we hopefully are all millionaires!
    • jt
      john t.
      11 June 2020 @ 12:23
      He’s rich and he can leave when he wants. There is a reason why people are fighting and risking it all to resist Chinese rule
  • Hv
    Hannah v.
    11 June 2020 @ 04:19
    So at my workplace, all my 25-40 year old colleagues think Bitcoin is akin to China organ harvesting, Mt. Gox and nerdy monopoly tokens. Even the 25 yo gamer guys! On top of that, they’ve all had a sip of the koolaid on what is basically unveiled hatred of “old” white men and that whole legacy. So my idea is based on when-you-can’t-fight-em-join-em.. Please take a moment to point out to the younger woke people in your circles that government fiat HAS OLD WHITE MEN PRINTED ON IT and that’s a racist sexist portrayal of our commerce. If the statues are gonna go in the drink, then the currency should as well. Like Raoul said, it’s a matter of branding. Might as well go with today’s currents.
    • mB
      marc B.
      11 June 2020 @ 04:43
      Did we watch the same interview?
    • og
      owen g.
      11 June 2020 @ 10:37
      and that is why u will likely remain behind the curve...
  • TB
    Tobin B.
    10 June 2020 @ 22:13
    What is KYC?
    • ra
      rehan a.
      10 June 2020 @ 22:18
      Know your crypto
    • AD
      Antonio D.
      10 June 2020 @ 22:51
      Know Your Customer - standard verification in many industries including private investment funds (PE, HF) and trading platforms
    • AS
      Ash S.
      11 June 2020 @ 05:08
      No, it's Know Your Customer. Which is the ID check you have to do with any financial institution including banks when you open an account.
  • SL
    Sum L.
    10 June 2020 @ 18:17
    Real Vision has a lot of quality guests and interviews, but this isn't one of them. Whenever we get Raoul and a guest talking about bitcoin, it feels like TV informercial. What would be helpful is to ask tougher questions instead of just talking about how wonderful bitcoin is.
    • OA
      Oscar A.
      10 June 2020 @ 18:20
      At this time, anything about Bitcoin (BTC) is good. Best investment of the past decade, will be the best investment of the current decade. Look ahead, not to the present or past. BTC talk is one of the reasons why I watch RV and follow Raoul. If we want just dogma from the current finance Status Quo we can just watch CNBC and read reports from Goldman Sachs.
    • SL
      Sum L.
      10 June 2020 @ 20:00
      Before one makes a comment or give a thumb-down it would surely be prudent to properly read what was expressed here. I'm sure the Real Vision Team will appreciate that I'm only making a constructive comment here, to give an example, Post-coronavirus, President Xi of the CCP has made numerous mentions to roll out digital-back RMB, it seems China is moving full speed ahead in blanketing the Belt and Road with its own digital currency and it's unlikely to stop - a collision with Bitcoin is imminent, how will this impact the roll of bitcoin adoption as medium of exchange and store of values? And what are the knock-on affects?Other countries model after China in illegitimizing Bitcoin? That's just an example of the kind of no-stone-unturned questions I'd like to see asked since the top is "the role of crypto post-coronavirus".
    • SS
      Stephen S.
      10 June 2020 @ 22:52
      Yeah I agree people are too quick to thumbs down. Not everything has to be positive. If somebody wants to say something negative just do it.
    • mB
      marc B.
      11 June 2020 @ 05:08
      Bitcoin is its own currency. Store of value. Backed by code & participants? Usd is backed by the us government etc...it’s that simple. 🤷‍♂️
  • DS
    David S.
    10 June 2020 @ 18:43
    Great interview. I learned a lot. The digital options/derivatives market is certainly the Wild West. This is how the West was won. At his age it must be like the California Gold Rush - stake a claim, work hard and hope for the best. Since the stock market is risky for me, I will wait until my next life. I wish Mr. Hayes all the best. DLS
    • mB
      marc B.
      11 June 2020 @ 05:04
      I was thinking the same. Options on crypto? Crypto to me is already an option. Bitcoins volility has come down. But for how long.
  • CB
    Clifford B.
    11 June 2020 @ 00:10
    As per my post below. This guy has his head on as a businessman. Dont bank on the token price. Bank on millions of millennials to trade them and pay fees on the Hope's of making millions while i buy gold and gold mines asa hedge. .... good times..
    • AD
      Antonio D.
      11 June 2020 @ 00:56
      When there's a gold rush, it's the person who sells the picks and shovels who gets rich
    • mB
      marc B.
      11 June 2020 @ 04:49
      It’s all about asset allocation. As Raul says it’s a call option on the whole financial system. All young nerds are learning blockchain. I have 2.5% in bitcoin of overall portfolio. It’s more of a new era that in 10 20 years is going to be a massive market cap. I’m 35 so this is something I need to learn. My father 72. Likes what he has invested in his whole life. Time horizon key here imo.
  • MP
    M P.
    11 June 2020 @ 01:43
    Interesting conversation. However Option Trading on Robinhood is free.
    • mB
      marc B.
      11 June 2020 @ 04:44
      If we have another market crash does robin hood get crushed. Do users put up collateral?
  • JH
    Joel H.
    11 June 2020 @ 04:35
    really interesting, thanks guys.
  • SS
    S S.
    10 June 2020 @ 12:09
    Great interview. RV - Can we please have people from the crypto space who talk about cryptos and alt-coins besides Bitcoin and Ethereum? There are 17 cryptos at the moment that have over $1 Billion market cap. Let's talk about them i.e. Cardano, Stellar, Chainlink, Monero etc. and many others over $500million like Zcash We all know the Bitcoin/Ethereum bullish case but we need to know whats next/has the most potential. Please help better educate us on what else is out there. Talking about Bitcoin and Ethereum is kind of like just discussing FANG stocks and forgetting everything else.
    • RP
      Raoul P. | Founder
      10 June 2020 @ 14:32
      Ash Bennington is working on a big special on this... with all the key players
    • EF
      Eric F.
      10 June 2020 @ 15:13
      I initially thought this was a stupid request, but actually it makes a lot of sense.
    • tc
      thomas c.
      10 June 2020 @ 15:24
      Yes and add some of the use cases. From the little I have heard Chainlink, Dash and others have specific qualities for specific uses.
    • TP
      Timothy P.
      10 June 2020 @ 16:35
      @Raoul - Just as long as you don't have any ex-cons or assorted con-men on Real Vision, I'd be interested. There are plenty of opportunists out there that would LOVE to use your platform as their next selling point to pump worthless tokens.
    • AB
      Alastair B.
      10 June 2020 @ 18:04
      BAT has my favourite use case. Not overly bullish on it, but I love the idea of advertising paying the viewer. It is the kind of norm-flip that redefines an industry, if it catches on
    • OA
      Oscar A.
      10 June 2020 @ 18:24
      Bitcoin (BTC) is so far ahead of anything else in network security and protocol stability that it makes no sense discussing "the alt-coins". Look at an hashrate chart... even #2 PoW coin (Ethereum) doesn't come close... plus it is centralized, had rollbacks (not immutable) and has a leader that pretty much premined himself into riches. Bitcoin is it. the TCP/IP of this internet. If it fails, everything fails.
    • SS
      S S.
      10 June 2020 @ 19:02
      Guys, I know Bitcoin and Ethereum are the Kings. Everyone knows that. Just like Amazon etc, are the best stocks on the market that doesn't mean I don't look at other stocks. I want knowledge and education on what else is out there so I can make an educated and informed decision on if I want to participate or not. But to totally ignore the other cryptos out there is ridiculous.
    • CH
      Crag H.
      10 June 2020 @ 19:31
      The top 10 or top 20 cryptos by market cap is an utterly useless measurement. The turnover of the names below Bitcoin and Ethereum is huge. My BIG recommendation is to NOT bring on any founders of these different types of crypto projects but instead invite some of the thought leaders in the space like Nic Carter, Tom Szabo and Tuur Demeester (who is already an old RV regular).
    • SS
      S S.
      10 June 2020 @ 19:45
      Hi Petter, Let's hear from both. If we can listen to an interview from people who run Crypto exchanges who offer 100x leverage, surely we can invite founders along with thought leaders?
    • WB
      Will B.
      11 June 2020 @ 01:06
      @Raoul and @Ash Please get people (@_Checkmatey_ or @behindtext on Twitter) from Decred to talk about it. It was launched by former Bitcoin devs in early 2016. After Bitcoin, it's next best store of value bet as it - retains all the sound money properties of Bitcoin along with 21M supply cap - is more adaptive due to its explicit governance process(compared to Bitcoin's vague governance) - is 20x more expensive to attack on a per market cap basis due to it unique hybrid PoW/PoS consensus (https://medium.com/@_Checkmatey_/decred-hypersecure-unforgeably-scarce-e076b91a2be) - have a Treasury of their own and functions like a DAO where stakeholders can decide where to allocate treasury funds (https://proposals.decred.org/?tab=approved) - only network after Bitcoin to have Lightning Network; also have Privacy features and a feeless Decentralized Exchange to be released in the next quarter
    • CV
      Collin V.
      11 June 2020 @ 03:53
      Charles Hoskinson is the man!
  • CH
    Crag H.
    10 June 2020 @ 19:44
    If RV is about to cover altcoins, here's what RV need to do: Hire a person who understands both tech and finance and have this person make real assessments of the viability of these different crypto projects (ask questions like: how does the security work? Why would the token appreciate in value? Who are the participants in the network? etc etc). Do not cover a project without assessing the tech. Period. This space is VASTLY different from other financial markets. Ignoring the tech is like ignoring the balance sheet of a company.
    • DS
      Devin S.
      10 June 2020 @ 21:03
      Agree, and it's tough to find someone who understands the tech but can be unbiased and explain it clearly and concisely. For example, the people who understand coin x the best are more likely to shill it. And they may be techies who struggle to explain things in plain English. Try explaining the block size debate in an unbiased way, it's quite difficult. Alex Saunders from Nuggets News is pretty good imo, there are others as well.
    • CH
      Clive H.
      11 June 2020 @ 03:29
      Reach out to Camilla Russo at The Defiant and also Anthony Sassano. Camilla particularly has a background in traditional finance before switching to crypto and writes and interviews daily about Ethereum and alt-coins.
  • SG
    Satvinder G.
    10 June 2020 @ 23:18
    Great interview. Looking forward to hearing more about the crypto space. Would be good to listen to someone who has some alternative crypto plays such as Alts and Bitcoin Miners such as Riot, Hive, Argo, etc.
    • MK
      Michael K.
      11 June 2020 @ 02:24
      Personally I don’t think it would. Bitcoin is enough. Alts are wolves in sheep’s clothing. Classic theme is “I like bitcoin buy my alt coin”
  • PM
    Paul M.
    11 June 2020 @ 00:37
    As a Boomer, the technicalities of owning Bitcoin are very daunting for me. I have come across a company that offers exposure to Bitcoin and other Cryptos in an index form and the company provides the security of the "coins.". The company is Bitwise Investments - minimum investment $25K............Does anyone have knowledge or comments on this company and this method of having exposure to Bitcoin? Appreciate your input.
    • MM
      Matthew M.
      11 June 2020 @ 01:54
      It's really not that difficult to buy a bit of bitcoin or learn how to. One or two quick youtube tutorials and a purchase of a ledger or trezor wallet from amazon. Don't go through a third party. Not worth it imo.
    • MK
      Michael K.
      11 June 2020 @ 02:22
      Swanbitcoin.com
  • HD
    Hedwige D.
    11 June 2020 @ 01:46
    Raoul and Arthur...brilliant, absolutely brilliant!
  • DN
    D N.
    11 June 2020 @ 00:58
    Really surprised to see this interview. Wonder if any RV has alot of bitmex traders..
  • CB
    Clifford B.
    11 June 2020 @ 00:03
    So the supposedly broke millennials are to get into this unregulated space to "make it big" because "someone" is going to push the price up In a space that is controlled by "whales". Hmmmmmm pot, kettle much? Sounds like the same old in a new realm.. good luck waiting for "someone" to buy your tokens with no yield to jack the price up.
  • RD
    Reginald D.
    10 June 2020 @ 23:19
    Brilliant guest...thanks for this interview, Raoul.
  • DW
    David W.
    10 June 2020 @ 22:56
    Great interview!
  • JV
    Jan V.
    10 June 2020 @ 16:04
    Slightly off topic. Has anyone experience with a crypto savings account? Companies like BlockFi offer a decent intrest rate (5,2%). It doesn't seem like a ponzi. Apparently their clients are mostly institutions which have to collateralize the loan (typically at 120%). The crypto assets are stored with a licensed custodian. I'm still not comfortable with the idea of handing over my private keys to a third party. But making BTC a yielding asset seems an important event in world of 0% intrest rates. Any thoughts or experiences?
    • JA
      Jonathan A.
      10 June 2020 @ 16:15
      Blockfi just suffered a major data breach. They also rehypothecate. And as you said, you no longer control your keys. Personally I stay away from them. Bitcoin's upside is so high I don't see the need to take extra risk and lose control of privacy and my keys just for some extra interest.
    • SB
      Salvatore B.
      10 June 2020 @ 16:34
      I can understand using a portion of your BTC that you feel comfortable putting at extra risk by handing it over to BlockFi, but I would be careful not to go too far.
    • TM
      The-First-James M.
      10 June 2020 @ 16:59
      If Pomp and Mark Yusko are backing them, I'd feel inclined to trust them with a small sliver of mine.
    • AK
      Ado K.
      10 June 2020 @ 20:19
      Not a ponzi, but how do they generate 5.2 %? and what are the risks? They do not tell you what they do with the money, and if their investments go bust so do you. I have been in this space for 4 years now, avoid blockfi, their lack of transparency is scary.
    • JR
      Jason R.
      10 June 2020 @ 22:35
      I am not interested in handing over crypto keys. Really hoping for a proof-of-stake solution for ETH. I think the best crypto income solutions involve ability to stake a currency and earn returns that way.
  • NO
    Neil O.
    10 June 2020 @ 13:31
    I've watched a lot on RV about crypto, and read "The Bitcoin Standard" as recommended by Raoul, but I can't get past the fact that if/when crypto becomes a serious threat to the status quo powers, one of these actors will turn their full hacking and computer skills to crash the crypto markets. It would only take an exchange to be hacked or people's bitcoin to be stolen for confidence to evaporate and crash the price, as has happened previously. Will the volatility of price undermine the whole space as usable?
    • TP
      Timothy P.
      10 June 2020 @ 13:48
      Let me point out the absurdity of your statement by rephrasing it. "It would only take an equity exchange to be hacked or people's cash to be stolen from a bank for confidence to evaporate and crash the price." And even if you do apply it to crypto, Mt Gox imploded, and we're still here. Bad wallet implementations have been hacked, and we're still here. The flaws you mention hasn't stopped anyone from using it, at all. As for volatility, its been declining on a year-over-year basis. I tire of the same arguments being dredged up again and again, even after they've been fully debunked.
    • NO
      Neil O.
      10 June 2020 @ 14:11
      And if the US government decided the stock market was operating against the national interest and instructed its full national security apparatus to crash it, then I think that would undermine its credibility pretty effectively. That's my point. If crypto becomes contrary to the national interest, why wouldn't a state actor undermine it? Especially if the governments are issuing their own cryptocurrencies.
    • PS
      Patrick S.
      10 June 2020 @ 14:18
      You pose two separate questions: 1) Will the crypto market crash if an exchange was hacked? and 2) Does price volatility make the space unusable? 1) You can store your crypto in a hardware wallet, i.e. not vulnerable to hacks in an exchange. In terms of hacking the blockchain itself: BTC has a market cap of USD 180 billion. Hack attempts are constantly occurring, with little to no success. This is why blockchain is revolutionary. 2) Price volatility means that the asset class is still in the process of price discovery. BTC has a programmed monetary policy (i.e. not dependent on the whims of humans/politicians) to end with a total of 21 million BTC over a period of 120 years. Price will stabilize at that point as supply remains constant and ups and downs will be based on demand, i.e. demand compared to other assets like stocks, bonds, property and precious metals. I agree with you that politicians can outlaw crypto and that would stymie its progress. But as we've seen, governments are looking at crypto as an opportunity rather than rejecting it. They probably see crypto as the next 'internet' that will present many opportunities. I tend to agree with that sentiment.
    • RW
      Robert W.
      10 June 2020 @ 14:33
      US Government has outlawed private possession of gold in the past. Your concerns are legit.
    • EF
      Eric F.
      10 June 2020 @ 15:11
      And how exactly did that work out for gold?
    • JA
      Jonathan A.
      10 June 2020 @ 15:33
      At nation state level, actors exist in adversarial relationships. An attack may carry significant risk as an opponent can defend Bitcoin and potentially benefit asymmetrically. If the attack fails over the longterm, the attacker will be left in a weakened state. The time for an individual nation state to easily attack Bitcoin was many years ago.
    • JV
      Jan V.
      10 June 2020 @ 16:28
      A more realistic approach to undermine confidence in BTC would be states taking control of existing mining infrastructure in order to continuously launch double spend attacks. Since mining is widely distributed geographically this would require collaborations between different governments in order to perform a 51% attack. If nationalization of miners becomes a threat they will move to a safer jurisdictions imo. Now they are only focused on cheap electricity. But this will change if security becomes an issue.
    • DS
      David S.
      10 June 2020 @ 20:53
      We were on the gold standard then.DLS
    • JC
      Juan C.
      10 June 2020 @ 22:21
      Pro Crypto but, thought I'd mention the idea of attacks and big dramatic plans to take down BTC are too James Bond like,.....I dont know if it would be successful but government could do what often gets done to hamper trends that are frown upon......you dont really outlaw it....you just regulate and TAX the sh%t out of it. An example would be GILTI tax.
  • DT
    David T.
    10 June 2020 @ 13:19
    No one is looking for bitcoins price stability. Everyone is looking it to reach 20K and 100Ks. So, how bitcoin is gonna become a currency with fluctuations like that? Would EUR even be a currency if it had volatility of Bitcoin?
    • RP
      Raoul P. | Founder
      10 June 2020 @ 14:31
      It is not a currency.
    • ML
      Mehdi L.
      10 June 2020 @ 15:34
      Bitcoin is a commodity that acts like an option
    • DS
      David S.
      10 June 2020 @ 20:51
      Mehdi L. - I like your definition. An option with a possible unlimited time horizon. I may finally get into Bitcoin again like Mr. Hayes is in gold. Buy some and put it away. See what happens. DLS
    • TP
      Timothy P.
      10 June 2020 @ 21:40
      A more nuanced answer besides "it is not a currency" is that Bitcoin is transitioning between three phases. Store of Value, Medium of Exchange and ultimately a Unit of Account where "a Bitcoin" has its own meaning just like other currencies do. Some get confused because it seems to overlap the first two without getting to the third (yet).
  • KV
    Keld V.
    10 June 2020 @ 15:28
    Hm we have had instant transfer of fiat money between people with MobilePay in Denmark, the last 7 years. Haven't the US solved the same problem with apps like Venom and SquarePay? I don't really see crypto solving that problem, which was already solved many years ago.
    • AW
      Andrew W.
      10 June 2020 @ 17:36
      There is no good solution for cross-border payments other than BTC/Lightning Network.
    • SV
      Santiago V. | Contributor
      10 June 2020 @ 21:15
      The key is to differentiate payments vs. settlement. Instant payments means an intermediary is taking on credit risk and most likely makes gain on the float. Instant settlement means that the value is settled between counterparties instantly. Applications like Venmo / Squarepay are payment rails that float peoples money and charge a fee. The goal is to cut out the middle man and reduce friction. Furthermore, cross-border settlement is an extremely costly proposition with companies like Western Union/Moneygram having a century of treasury management to hedge FX volatility risk. This is particularly bad with remittances, the facilitation fee is a large fraction (bps) of the total amount. As a global economy we can do a lot better by facilitating micropayments with low bps using digital assets. Some of the layer 1 solutions still involved exchanges for fiat off-ramps. Layer 2 solutions, like Interledger Protocol, are value pool agnostic (don't involve Bitcoin or Venmo as a requirement) but rather facilitate value transfer across networks.
  • WM
    W M.
    10 June 2020 @ 20:57
    Best Bitcoin interview yet. Arthur's origin story is great.
  • DS
    David S.
    10 June 2020 @ 20:35
    Great discussion on Hong Kong and China. Through all the machinations of the death of China and Hong Kong on RVTV, I said it is only a matter of time before Hong Kong is just another city in China. It is only common sense. It is great to have this expectation agreed to by an American living in Hong Kong and Singapore. My thoughts were purely common sense from far, far away. It is gut wrenching for people who live in Hong Kong and wanted to have a western lifestyle and democratic values. I feel for them. The land, however, is Chinese soil. The new US orientation toward China just makes it much easier to get it over. Just like South Africa it was a matter of the politics of the time not fairness to all. DLS
  • AW
    Aaron W.
    10 June 2020 @ 18:53
    "UNREGISTERED FUTURES CONTRACTS have traded on BitMEX, a non-U.S. exchange, with a consistent volume of greater than $2 billion per day." https://www.sec.gov/divisions/investment/van-eck-associates-innovation-cryptocurrency.pdf "The U.S. Commodity Futures Trading Commission is investigating crypto exchange Bitmex." https://www.bloomberg.com/news/articles/2019-07-19/u-s-regulator-probing-crypto-exchange-bitmex-over-client-trades "We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers." https://www.fca.org.uk/news/warnings/bitmex "May be openly involved in systematic illegality." https://www.bloomberg.com/news/articles/2019-07-17/nouriel-roubini-ramps-up-campaign-against-crypto-exchange-bitmex
  • AM
    Alastair M.
    10 June 2020 @ 09:28
    Refreshing perspective on China/HK, a much needed antidote to the Bass propaganda
    • TP
      Timothy P.
      10 June 2020 @ 13:51
      I wonder which part of putting down protests for democratic control of Hong Kong appeals to you. Is it the blood, or the young people's dreams being crushed? Seriously, I'd love to know how someone can empathize with a dictatorial regime, it would be a illuminating study in psychopathy.
    • AB
      Alastair B.
      10 June 2020 @ 18:25
      Let’s ask the US state department about Saudi Arabia then.
  • OA
    Oscar A.
    10 June 2020 @ 18:18
    Too bad BitMEX is a total shitcoin casino. Arthur should focus on Bitcoin (BTC) only like others like Obi Nwosu did at Coinfloor. Peddling useless tokens seems as unethical as the current fiat/stock/Fed Ponzi.
  • OC
    Otto C.
    10 June 2020 @ 17:26
    I am a long-term Bitcoin bull but a bear in the short term. There is no question to me that BC is the future. Nevertheless, counting on millenials to bring Bitcoin $ up, in my opinion, is counterintuitive given that most of them are already in. My theory is that there will be a crash in the sector, during the reset, and after there will be an exodus from the other coins into Bitcoin because it's the one that is actually stable.
    • AW
      Andrew W.
      10 June 2020 @ 17:34
      USA Millenial here with sizeable BTC stake. I have few colleagues that own any. They also generally don't own gold, or understand the value of hard money. For whatever reason, BTC and gold go through parabolic awareness phases, and when those blow off, they never come back to where they were. The moves happen all at once. So timing BTC (or gold), especially after halving, is a fool's game.
  • SW
    Sarah W.
    10 June 2020 @ 12:19
    Should have asked him what happened with the Bitmex liquidation engine back in late March...
    • TP
      Timothy P.
      10 June 2020 @ 13:49
      Correct, word is they had to manually intervene so it wouldn't auto-sell its entire book. I'd LOVE to hear from Hayes on that particular clusterf**k. It really blew out a lot of traders.
    • JA
      Jonathan A.
      10 June 2020 @ 15:42
      The elephant in the room. I doubt he would answer that question honestly though.
  • Nv
    Nick v.
    10 June 2020 @ 07:06
    bitMEX 100x leveraged trading.... quickly help the ordinary investor get rekt.
    • ML
      Mehdi L.
      10 June 2020 @ 15:38
      I played with fire as a child. Then convinced myself I shouldn't.
  • ML
    Mehdi L.
    10 June 2020 @ 15:31
    Arthur is awesome!
  • AS
    Atul S.
    10 June 2020 @ 13:52
    How about Chenpang Zhao of Binance next?
    • RP
      Raoul P. | Founder
      10 June 2020 @ 14:31
      We need an intro ....
  • AS
    Atul S.
    10 June 2020 @ 13:51
    I'm surprised how humble Arthur is given what he's achieved.
  • JI
    Janne I.
    10 June 2020 @ 12:43
    Raoul get the bankless boys on RV. They are super insightful and understand this entire space better than anyone I have seen and thats coming from cryptoholic. @TrustlessState and @RyanSAdams
  • DR
    David R.
    10 June 2020 @ 12:00
    Meant thank you , typo error.
  • DR
    David R.
    10 June 2020 @ 11:59
    Brilliant , than you . That fella is one cool dude , very open minded when heavily involved in crypto space.
  • GL
    G L.
    10 June 2020 @ 11:13
    Great interview, thanks Arthur and Raoul!
  • DJ
    Dalibor J.
    10 June 2020 @ 07:00
    Great interview. Would love to see Jeffrey Gundlach on RV!
    • RP
      Raoul P. | Founder
      10 June 2020 @ 10:48
      He has been on a few times...
  • EL
    Erik L.
    10 June 2020 @ 08:44
    Great interview! A bit funny that “the bitcoin guy”’s biggest positions are gold and gold miners;)
    • LJ
      Liam J.
      10 June 2020 @ 10:07
      He probably has more than enough exposure to bitcoin already just by owning Bitmex. With the amount of money he makes from that wouldn't be surprised if he's a billionaire.
  • SS
    Simeon S.
    10 June 2020 @ 09:55
    Is Raoul being sarcastic or promotional?
  • DD
    Dmitry D.
    10 June 2020 @ 09:31
    One of the best crypto-related interviews on RV, great insight and clear, rational thinking. Hope to see more of Arthur!
  • SP
    Simon P.
    10 June 2020 @ 09:15
    he really does have shark teeth
  • WL
    Wayne L.
    10 June 2020 @ 08:52
    Loved it. Another in the litany of great thinkers. Raoul is a great interviewer also, just the right questions
  • DP
    Daniel P.
    10 June 2020 @ 07:59
    Have to love the twinkle in Raoul's eye when he says "a hundred times levered?!" - perfectly encapsulates the terror/excitement of any trader learning they have access to that.
  • LJ
    Liam J.
    10 June 2020 @ 06:37
    Aaah bitmex the platform where in 2019 I turned 3k into 90k to then lose it all. The memories! My own fault though, Arthur Hayes is smart guy. Great interview!
    • MC
      Marc C.
      10 June 2020 @ 07:46
      Later in life you might consider that paying 3K for such a potent lesson money well spent. Appreciate your honesty.
  • CD
    Chris D.
    10 June 2020 @ 06:15
    Excellent interview, Arthur was very well behaved :)