Bitcoin Future as World Reserve Currency

Featuring Trace Mayer

Trace Mayer, host of the Bitcoin Knowledge Podcast, is a leading authority on cryptocurrencies and he brings us up to speed with the recent technological strides in Bitcoin, as the charts point to exponential gains. In this presentation, Trace sets out his vision for the future of Bitcoin as money, to surpass gold and ultimately status as the world’s reserve currency. Filmed on April 11, 2017, in New York.

Published on
9 May, 2017
Technology, Financial System, Crypto-currencies
57 minutes
Asset class
Crypto-currencies, Commodities, Cash


  • bs

    bob s.

    18 1 2018 18:03

    1       0

    Spectacular information! Bitcoin biased but spectacular and well defended thesis.

    The question truly is how long does the fiat money system have as the debt goes vertical and what alternatives do the people have? This is exponential NOT linear Do we have 2 years? 5 years? Certainly most might agree that in 10 years time, if we make it, it seems as if it will become evident to most everybody that there is a big money problem.

    The question is what will the people rush to own. Will they allow themselves to become duped again by gov't's? Will they let information get censored? The twenty somethings will be tech savy thirty somethings and so on, inheriting the old guards funds meanwhile the apps keep coming and the market place keeps evolving and usage gets easier and tokens grow and more tectonic shifts happen more rapidly. Credit will tighten and when this occurs debt no longer gets serviced, so where is that difference going to be made up? Do they have the political capital to print again??
    If they try get ready for a crypto gold rush and a silver and gold gold rush and eventual bubble like we've never seen...
    Fireworks are baked in the cake and the governments don't understand that this is the current cycle we are in, pendulum analogy is a good one, and it will take them all down. New gov't will emerge. We saw the beginnings of this populism with trump. Human kind is about to be unleashed in a productive unhindered uninflated way that the world has never seen. Maybe in 5 years the speed at which this could take place, the world may look very different. They will want to own crypto. The train has slowly left the station and will gain speed to a roaring stampede, once this gains speed, we probably don't have a clue how fast this will move. Probably best to spend some quiet time taking inventory of yourself and family.

  • TM

    Todd M.

    2 10 2017 03:30

    0       0

    A challenge in Bitcoin space is the many financially successful early adopters who had a great insight into BTC future. Unfortunately many of these are not especially thoughtful or the best to analyze the next five years. Some have narrow personal agendas.

    None of that is the case with Trace. Trace is flat out bright and has great insight from the granular to big picture- glad he was introduced to the RV crowd. Bravo!

  • AG

    Alexander G.

    29 9 2017 13:06

    0       0

    tangible Origin - Late 16th century: from French, or from late Latin tangibilis, from tangere ‘to touch’.
    ...I am just saying...

  • TD

    Tim D.

    13 8 2017 21:14

    0       0

    Did he really just laugh his ass off when the picture of hospitals having to pay off ransomware crossed his mind? Evil.

  • SR

    Skip R.

    3 7 2017 06:11

    0       0

    One of my favorite RV video. I've watched a couple of times. Great history and conceptualization of what the Blockchain/Bitcoin is and how it will revolutionize the future.

  • DL

    Douglas L.

    18 6 2017 18:28

    0       0

    Typo...BIP 148.

  • DL

    Douglas L.

    18 6 2017 17:16

    1       0

    Take a listen to Trace on the latest podcast where he talks about BIP 184. Trace says that this will cause some turbulence around 8/1. Holders should understand what's going on to mitigate risk.

  • MS

    Matt S.

    13 6 2017 07:46

    0       0

    "The technology is going to be regulating human behaviour."

    And he says it like it's a good thing....

  • EL

    Eddie L.

    9 6 2017 04:04

    1       0

    When did J-roc /Jonathan torrens get his PhD in bitcoin? Know wha'm sayyyyyyyyyyyyyyyn

  • DF

    Dominic F.

    7 6 2017 06:24

    0       0

    In a word......
    Compelling :-)

  • AG

    Abhimanyu G.

    6 6 2017 00:36

    0       0

    Thank you RVTV and Trace for the video - it was a fascinating watch.

    Question: For a 28 year old investor, what would be the target % allocation you recommend to Bitcoin, and what % to Gold?

  • PS

    PD S.

    27 5 2017 12:49

    0       0

    excellent and very timely piece, thank you! :)

  • DF

    Dominic F.

    26 5 2017 19:07

    1       0

    Great interview! We are probably in a bubble right now but I am convinced that Bitcoin will survive. Amazon survived the Dotcom bubble, so will Bitcoin. We are in the Blockchain infancy.

  • AK

    Ai K.

    25 5 2017 07:27

    0       0
  • AK

    Ai K.

    25 5 2017 07:27

    0       0
  • DE

    Daniel E.

    24 5 2017 12:21

    0       0

    Where is the best place to buy BTC? thx

  • NF

    N. F.

    24 5 2017 02:10

    1       0

    It was going great until he started trashing altcoins. Gold and Fiat have a big head start too but he doesn't have a problem imagining Bitcoin eclipsing them. The evolution of cryptos cannot be stopped, and Bitcoin's reign is far from guaranteed over the long term. Stick a fork in it!

  • DY

    Damian Y.

    18 5 2017 04:09

    5       11

    Block chain technology is truly amazing, but if you think Bitcoin is going to become the new world reserve currency then you are a fool. This is another classic bubble waiting to burst. Sure there are some great points about Bitcoin but do your research and think about it, there are many problems, like the wild price fluctuations. Buy $1000 dollars of Bitcoin now and who knows what that will be worth in six months time. Yes you can't trace it, tracing money allows you to stop fraud, that's why ramsomware loves it. Do you really think there is going to be a one world currency controlled by Bitcoin. Government is all about control and tax. This guy is smoking way too much green stuff. Talk about a bubble waiting to burst.
    Please thumbs down if you're a gullible fool.

  • AD

    Andy D.

    15 5 2017 17:51

    2       0

    Great interview - can't wait! Much more Bitcoin / Altcoin content please. Why don't you accept bitcoin as subscription payment guys?

  • RR

    Raj R.

    15 5 2017 01:36

    0       0

    He mentions ramsonware and the attack happens days later wow!

  • EJ

    Erik J.

    13 5 2017 23:30

    2       0

    Great interview...Trace and Tuur some of best sources of info in the space!

  • SS

    Sam S.

    13 5 2017 17:07

    0       0

    Thanks to David S and James M for your suggestions. All the best.

  • Nv

    Nicholas v.

    12 5 2017 06:05

    2       0

    Great interview! This is the sort of perspective that's needed if one is to make an informed decision about Bitcoin. If Bitcoin or another cryptocurrency is going to be this revolutionary we're going to need a lot more interviews like this!

  • SS

    Sam S.

    11 5 2017 14:22

    2       0

    Gov't has already demanded exchanges fork over disclosure of who has bitcoin accounts. Gov't is all about taxation, control of where and how money is transferred and exchanged, perception and the like. I don't think that changes anytime soon. Hiding money from taxation, terrorism uses, drug traffic, etc. Question is: If I have a private KEY and the exchanges are controlled or shutdown, how am I going to convert or use my Bitcoins? Any suggestions are appreciated. Lots to think about.

  • RM

    Ross M.

    10 5 2017 23:21

    5       4

    I can see the Bitcoin concept of independent money but we already have independent money Gold. I'll stick with Gold thanks it's got an indisputable advantage over Bitcoin, intrinsic value and is not totally dependent on a digital backbone. And can be front ended for everyday saving trading and commerce by something like Goldmoney.

  • SW

    Scott W.

    10 5 2017 17:28

    5       0

    I don't think mean reversion applies to bitcoin as it would to an equity pricing trace. Bitcoin either goes non-linear (over the new couple of years) OR it goes to zero. If you believe the thesis (network effect, etc) then get in.

  • JM

    James M.

    10 5 2017 13:11

    10       0

    Revolutionary video and an excellent introduction to crypto currency/applications. One of the best videos I have seen on RVTV and there has been some major competition. However I have some fundamental questions which may appear naive, but there are no dumb questions in my opinion. Firstly the USA Empire the largest and most powerful to date in human history and the powerful organisations who control that empire may have something to say about a liberty invoking democratising entity that is bitcoin and blockchain technology. It seems unlikely to me that the USA will allow the loss of its most incredible advantage that is the reserve currency status it holds since the Bretton Woods agreement. I heard in the interview the very exciting possibility that blockchain technology could reduce or eradicate the pursuit of violence to gain economic, strategic , or monetary advantage. Being that violence and economic pressure are two of the most advantageous and beneficial factors of continuation and accumulation of power by any empire including the current king why would the USA allow the expansion of blockchain technology if it cannot control it? As was suggested I think in the interview the USA or any other Empire could not stop it. I think this is naive to suggest this as they the state still have the power to put in place obstruction laws, tax, threat of imprisonment, etc. They also control media and the propaganda machine which could impede blockchain technology expansion and every day use. Also as I,m aware that if code keys for wallets are lost or hacked ( if that is possible today or in the future) then state powers could disrupt the system that way also. I could go on but these are some questions for now. I don't state these questions to knock bitcoin or crypto, blockchain technology I think the idea is fantastic and very hopeful I guess I just don't think the powerful forces who control the system will just allow this to happen, but I hope to proven wrong. Thanks for an excellent interview.

  • SS

    Steve S.

    10 5 2017 12:14

    3       5

    Who's a buyer of bitcoin at todays prices?

  • TJ

    Terry J.

    10 5 2017 12:08

    3       0

    Another invaluable video. Like several other viewers, I would welcome regular updates on Bitcoin and maybe having champions of some of the other crypto-currenceis like Ether and Monero give their arguments as to why their crypto will succeed instead of, or in addition to Bitcoin.

  • Nv

    Nick v.

    10 5 2017 09:19

    2       0

    Excellent job Trace. I learnt a lot

  • JD

    John D.

    10 5 2017 09:01

    2       0

    Great Research...Lots of compelling reasons why it will be a Big Part of The FUTURE...

  • RR

    Raj R.

    10 5 2017 06:26

    3       6

    Bitcoin will have competition. If interest rates go up I would assume bitcoin will go down. When something is too good to true stay away from it. I would rather focus on blockchain technology.

  • FM

    Faris M.

    10 5 2017 04:25

    5       0

    Thanks for more discussion on bitcoin. Please keep them coming RV. Your work is immeasurable and unparalleled in this space.

  • CM

    Carl M.

    10 5 2017 02:51

    2       0

    This was an amazing presentation. Thank you for more distillation on the subject.
    By chance I saw a article by a Dr. Gideon Greenspan at Coindesk regarding the immutability of Blockchain.
    I found it helpful to see another opinion or side of the "coin."

  • JS

    Jerry S.

    10 5 2017 02:45

    6       0

    I'm wondering if at some point, a reserve currency controlling government decides to move all transactions to a cryptocurrency but makes it illegal to use any version other than the new gov't controlled version. Basically, is BTC working out the kinks in this technology which will be taken over by gov't at some point, rendering BTC worthless or convertible into Guvcoin at a fixed (bad) rate like gold in the 1930's?
    I may be way off on these concerns.... mostly thinking out loud.

  • HJ

    Harry J.

    10 5 2017 00:42

    0       8

    What in all this ramble is of current value?
    Where does he buy computers for $200

  • JS

    John S.

    10 5 2017 00:08

    5       0

    It would be good to interview Dan Morehead again for an update of the investments going into this space

  • DC

    Dave C.

    10 5 2017 00:02

    5       0

    I do not not pretend to be an expert on crypto currencies but I have an IT background.

    This expert says "Bitcoin, likewise, has thousands of applications. And guess what, currency is only one of them. It's going to be able to be used in a large multitude of other applications besides just currency. We've already talked about smart contracts, anywhere where we're performing trusts. These go into transaction fees, you've got to pay the transaction fees in Bitcoin."

    I say he is confusing block chain technology with the bitcoin application and is thus undermining his credibility. Block chain technology is not dependent on Bitcoin from my understanding. Have I missed something here?

  • PN

    Paul N.

    9 5 2017 23:21

    10       2

    Unlike most people in cryptoland my vision of bitcoins future is much darker. It will go mainstream not because of how great it is but because of how bad things get. Westerners will use to preserve their savings from the pension collapse. Chinese will continue to use it to escape capital controls and civil unrest. Multinationals will hold it to pay off ransomware hackers. Venezualens will (and do) use it to order food online because theyre starving. And everyone else will use it to avoid taxes and buy naughty things. Bitcoin will go mainstream but it will be 'underground mainstream', the pornography of money.

  • PN

    Paul N.

    9 5 2017 23:12

    2       0

    A decent video although Trace's mind was moving very fast and the analogies needed more context. For example, the whole all-star team vs high school amateurs analogy was about the scaling debate and all of these people pushing for poorly tested, badly coded alternative clients like Bitcoin Unlimited as well as pumping altcoins..

  • RM

    Ronnie M.

    9 5 2017 23:02

    2       1

    Some interesting points. Rambling though!

  • dw

    darcy w.

    9 5 2017 20:52

    5       0

    I learned about Trace Mayer after first watching Tuur Demeester on RVTV and wanting to learn much more about bitcoin. I highly recommend his podcast: I learned a lot about bitcoin and money in general. Incidentally, I've found curiosity about bitcoin necessarily makes you question 'what is money'. Anyways, his podcast is full of a lot of excellent knowledge on these subjects, and one of the few places you can still learn about the history of this technology and movement behind it. I hope Trace is a return guest in the future as we see the exciting landscape of bitcoin and blockchain continue to develop.

  • MN

    Mark N.

    9 5 2017 20:27

    5       1

    Interesting interview, definitely got me eager to learn more on this topic. Signed up to his podcast too.
    I'm not convinced cryptography and block chains are an end to tyranny and corruption. Look at Aadhar, which promises to reduce corruption but actually enables certain types of corruption.

  • IV

    Ian V.

    9 5 2017 17:44

    1       0

    Thank you RVTV for great bitcoin discussion--a lot of food for thought. My knee-jerk reaction is to lament not being a software engineer/CS Major because I'd love to know how it all really works. But then I think I use fiat currency and despite my nascent weariness, still use it everyday. I guess we all need to hold many types of "Cash" from now on-Gold, bitcoin, maybe others... brings up a lot questions about value. If put in a room with a bunch of bitCoin price tags, I'd still be multiplying by the exchange rate in USD so what's the point? In the case of gold I have some clue of what a little or a lot of gold is, but also would be converting in my head. Maybe down the road that would change...

  • DS

    David S.

    9 5 2017 17:35

    2       1

    Governments can shut down their resident's use of Bitcoin. Hawaii did this to CoinBase accounts registered in Hawaii with compensating balance legislation. China is working on Bityuan. When China is ready to go, will they stop its residents from using Bitcoin? There will always be a need for Bitcoin, but what will the econimics be if major Governments make it illegal to hold Bitcoin accounts? Will most Bitcoin users have to have offshore accounts. DLS

  • RA

    Robert A.

    9 5 2017 17:32

    3       0

    Another excellent one here Milton. Perhaps Bitcoin WILL surpass Gold someday for some or all of the reasons he noted. But....I think he gave us the key as to some unknown length of time; the argument for both being a store of value is their proven stability over time----Gold= 2000 years-----BC=8years!

  • GS

    Gordon S.

    9 5 2017 16:42

    12       9

    Good content in this interview, but I found Trace's lack of humility to be annoying on more than one occasion.

  • JV

    JACK V.

    9 5 2017 14:29

    3       2

    The speaker should consider dropping any reference to an endorsement by rapper 50 cent (who, among other things, is alleged by Aziz Ansari to have NOT known what a grapefruit is).

  • HP

    Henry P.

    9 5 2017 12:53

    5       0

    Thanks RV for another great talk on Bitcoin. I question what happens once the last bitcoin, the 21 millionth coin is minted. Doesn’t the support network essentially die at that point? Or before as coins become harder to mine.

  • HM

    Ho M.

    9 5 2017 12:41

    1       0

    I would be interested to know how an investor should take into account the risk of a hardfork event.

  • MA

    Michael A.

    9 5 2017 12:15

    5       1

    A very good friend of mine messaged me today and said he invested in Bitcoin last week (he's made a decent amount off his initial investment).I asked him, "are you aware of the associated risks?". His response was "yes and no". I said "ok, why have you bought it?". His response was "There's a lot of buyers right now, and news is getting a lot more people involved". This guy is what i'd call an average / "everyday" investor

    Genuine story that. If that story tells you one thing, it's that this market is genuinely heading into the mania phase and is due a major correction imho. A lot of people out there now jumping on the bandwagon.

  • SS

    Steve S.

    9 5 2017 11:15

    5       0

    ETHEREUM is up 9x since February! What is going on?

  • SS

    Steve S.

    9 5 2017 11:13

    5       0

    Bitcoin is up 70% YTD. I can't help but think that Bitcoin is overdue a huge market correction. But there is enormous momentum behind it right now, and everytime I think it is about to correct, it just goes higher and higher. What price do RVTV viewers think is a good entry point?