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
Topic
Crypto-currencies, Financial System, Technology
Duration
57 minutes
Asset class
Cash, Crypto-currencies, Commodities
Rating
36

Comments

  • 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’.
    Source: https://en.oxforddictionaries.com/definition/tangible
    ...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.

    • bs

      bob s.

      18 1 2018 17:34

      0       0

      yes-but to illustrate how stunningly disruptive this tech will continue to be, both good and for bad.

  • 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 Bitcoin.kn 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

    • DC

      D C.

      17 8 2017 21:42

      0       0

      I along with maybe 2.5 others who understand the reference

  • 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

    • DR

      Daniel R.

      24 6 2017 07:35

      0       0

      I've had a good experience buy, holding and moving BTC on Bitstamp.

    • AJ

      Aditya J.

      28 8 2017 19:31

      0       0

      coinbase

  • NF

    Nelson 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       10

    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.

    • DS

      David S.

      11 5 2017 17:43

      0       0

      After Hawaii Bitcoin restrictions were passed, I was allowed 30 days to zero out my Bitcoin account.

    • TM

      The-First-James M.

      12 5 2017 12:56

      2       0

      Here's one way to get around this:
      https://trezor.io/

    • JM

      James M.

      13 5 2017 17:36

      0       0

      (Different James M) Getting your BTC off an exchange is no problem and BTC can be stored on a bit of paper at one extreme. If its govt you are worried about then its only FIAT to BTC and visa versa where they can control. So in theory you could find a situation when you dont want to use an exchange to exchange BTC to FIAT due to taxation.control. You can sell your coins via "localbitcoins" or exchange them. The govt can only do so much, but their actions certainly could cause a price crash.

    • bs

      bob s.

      18 1 2018 17:38

      0       0

      peer to peer exchanges and decentralized exchanges

  • 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.

    • MS

      Michael S.

      11 5 2017 04:09

      4       0

      Problem with Gold is that it is heavy and cumbersome to store/trade. The supply isn't 100% finite either, maybe technology in the future will allow us to mine more cheaply, or maybe asteroid mining will become a reality. 'intrinsic value' is also subjective. The value of gold isn't due to its usefulness, it's due to speculation of value and/or the fact that humans like things that are shiny and scarce.

    • TM

      The-First-James M.

      12 5 2017 12:57

      5       0

      Why not own both Gold and Bitcoin (a much smaller proportion relative to your Gold). They complement each other well.

    • EF

      Eric F.

      13 5 2017 01:07

      0       0

      It's far from indisputable.

    • AS

      Aki S.

      3 6 2017 15:02

      3       0

      I think the future could be transacting with gold by trasferring owning rights digitally, not so much physical gold from hand to hand. Hard to see bitcoin survive even 10 years of unpredictable algorithm cracking qualities of quantum computer specifically constructed for mining, even those quantum computers that are not. Gold on the other hand is something everyone can grasp and get their head around. And thinking 100 years ahead it feels only gold can survive in some form of the different kinds of money/currency that are available today.

    • AS

      Aki S.

      3 6 2017 15:07

      1       0

      Meant to say also that bitcoin is just too cryptic a consept for many people. I cannot imagine many people over 50 years trusting any digital currency that is solely based on code in some servers and especially the idea that it is "mined" by supercomputers by someone. Blockchain technology is brilliant but I believe it's too high tech for common person to trust their capital in.

  • 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.

    • TM

      The-First-James M.

      10 5 2017 15:08

      0       0

      Hi James M. It looks like there are currently two of us with the same username! I'll change mine going forward, unless you want to...? :)

    • JM

      James M.

      10 5 2017 17:34

      0       0

      Hi James yeah common name I guess, Thank you. Cheers..

    • PG

      Petter G.

      10 5 2017 20:21

      3       0

      I'm no expert but I've been trying to get up to speed with bitcoin for a while now so feel free to correct me if I'm wrong, but the simple answer is that you basically would have to take down the internet in order to take down bitcoin. You can prevent people from running a bitcoin node just as much as you can prevent them from running a bit torrent client. Some states and corporations can and will try to stall this thing but in the meantime their competitors will embrace it and get a head start.

      Hacking the bitcoin network itself is basically not possible (it's been under constant attack since it went live and have not yet been so). Hacking exchanges, wallets etc is another thing but that would not give you control over the network.

    • JS

      John S.

      11 5 2017 03:59

      2       0

      James, you verbalize concerns about sovereign states intolerance for currency competition better than I have so far. That said I had no idea how much more than money BC is and intend to stay tuned. Fascinating stuff.

    • PN

      Paul N.

      12 5 2017 02:14

      5       0

      I think people vastly overestimate the power and will of governments to shut down decentralized peer-to-peer systems. They will be about as successful shutting down bitcoin as they were with shutting down the drug markets and shutting down bit-torrent. Marginilize it? Sure. Destroy it? Not a chance.

    • JM

      James M.

      4 6 2017 08:57

      1       0

      Thank you for the replies. We have seen over the last few years the frequency with which Central Banks have used the creation of, it seems limitless fiat with no concern to future global economies, to buy securities and effectively take part or maybe one day complete ownership of publicly traded companies. I think the SNB and the BOJ have shown this example the greatest thus far. If they can create unlimited fiat to buy assets in the form of Apple and 50% of the Japanese ETFs whats to stop them doing the same with BTC, LTC, ETH or any other ICO? The realization to me that future possible forks in BTC or already in ETH/ETC and alt coins seems another major possibility for limitation or infiltration of the future of mass use of cyrptos and blockchain technology. The big money players have inevitably moved into the blockchain space now and with that excessive speculation has taken hold as is normally the case with any possible game changing entity. I hope blockchain technology manages to come through and reach its incredible potential but as every day passes it seems to me that the parasitic nature of corporate criminalism seeps ever more its claws into this exciting technology.

    • bs

      bob s.

      18 1 2018 17:54

      0       0

      The question truly is how long does the fiat money system have as the debt goes vertical. 2 years? 5 years? Certainly in 10 years it seems as if it will become evident to most everybody, if it possibly can go that long. The question is what will the people rush to own. Will they allow themselves to become duped again? The twenty somethings will be thirty somethings and so on, meanwhile the apps keep coming and market place keeps evolving and usage gets easier and more tectonic. Credit will tighten and when this occurs debt no longer gets serviced, so where is that difference going to be made up? Get ready for a crypto gold rush and a silver and gold gold rush... Fireworks are baked in and the governments don't understand that this is the cycle and it will take them all down. Human kind is about to be unleashed in a productive unhindered 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 to. The stampede has slowly left the station and once this gains speed, we probably don't have a clue how fast this will move. Buckle up...

  • KJ

    Kulbir J.

    10 5 2017 12:14

    3       5

    Who's a buyer of bitcoin at todays prices?

    • TM

      The-First-James M.

      10 5 2017 15:07

      1       0

      Not me right now (as I already own it), but I've already sold as much as I intend to at prices some 35 - 40% below where we currently are. The remainder of what I hold is a free ride. I will be a shorter term buyer if I need to use Bitcoin for an AltCoin trade or to make a purchase of tangible goods. Depending on the circumstances surrounding it, I'll be a larger buyer of Bitcoin again on the next major correction/crash.

    • MS

      Michael S.

      11 5 2017 04:20

      1       0

      I am a buyer of Bitcoin at all prices, and have done incredibly well thus far..

  • 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       5

    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.

    • TM

      The-First-James M.

      10 5 2017 15:04

      4       0

      Bitcoin is Blockchain technology in action...

    • PG

      Petter G.

      10 5 2017 20:27

      5       0

      When the internet was new all the big corps said: "internet is interesting, but we think that intranets will be the big winner". The same thing is happening now.. Banks are saying "we're more interested in blockchain than bitcoin". Well, who wanna use the GoldmanSachsCoin? Anyone?

  • 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.

    • TM

      The-First-James M.

      10 5 2017 15:03

      2       0

      Will probably happen. However, declaring something to be illegal is one thing. Enforcing it is something else. Question to ask yourself is, would you be prepared to break the law if that's what it takes to preserve the purchasing power of your life's savings, or would you just meekly submit to it happening? I know which of the two I'll choose - even if it would mean spending the rest of my life in jail. I cannot help but wonder if, in such a scenario, Bitcoin would become even more valuable. Look at how the Black Market thrives in countries experiencing currency distress, e.g. Venezuela.

    • PG

      Petter G.

      10 5 2017 20:31

      1       0

      I doubt that anyone would want to use the FedCoin after the collapse of the dollar. Why would you trust them this time? Because government IT employs the best coders in the world? ;)

    • MS

      Matt S.

      13 6 2017 09:10

      0       0

      Why would ANY government want all their transactions recorded in a ledger and why would they want to LOSE the ability to print money out of thin air? They came OFF the gold standard for a reason! It held them back from military expansion and profits!

  • 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
    Etc

  • 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.

      10 5 2017 00:18

      12       0

      The bitcoin token is a necessary part of the economic game theory that makes the blockchain secure. The bitcoin blockchain is the only truly well tested blockchain operating at scale today. The mainstream narrative that the blockchain doesnt require a token is conpletely false and most of the DLT startups born from it will fail. The real applications will be built on a public cryptocurrency blockchain, either bitcoins or something similar.

    • DC

      Dave C.

      10 5 2017 06:00

      3       0

      Thanks for taking time to respond - this is clear.

  • 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.

    • PG

      Petter G.

      10 5 2017 20:35

      1       0

      So you think fiat is here to stay for the long run?

    • PN

      Paul N.

      10 5 2017 21:50

      2       0

      Yes. There have been monetary resets all throughout history. If It happens, governments will likely concoct some brand new fiat system. It could be some pretend cryptocurrency like Fedcoin where at the very least you can track the total $ supply. During the transition though I expect all currency alternatives like btc and gold to rise.

  • 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: http://www.bitcoin.kn/. 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.

    • DB

      Douglas B.

      2 6 2017 18:21

      0       0

      Not a relevant comparison. A centralized system (Aadhar) vs. a decentralized system (Bitcoin). One system was created by central power. The other was created to circumvent and even possibly subvert central power.

  • 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

    • DS

      David S.

      9 5 2017 18:41

      1       0

      Bitcoin block-chain technology used to verify transactions is certainly a quantum improvement. This may be its most important long-term application.

    • EF

      E F.

      9 5 2017 19:24

      4       0

      For a cyrptocurrency to achieve national or reserve status it would require the state to accept it as tribute, the same way property registration on a ledger would have to be accepted by judicial systems that are centralized in nature.

      Up to date the majority of bitcoin's many uses involve moving money outside or out of official channels, where it excels and thanks to its transferrability outperforms cash.

      In my opinion it is a likely scenario of the coming decades that national and world bodies are forced to record their financial rules and commitments onto unalterable technology. However I find it hard to envision how any such technology would resemble the current form of bitcoin with its purely fixed money supply.

    • PN

      Paul N.

      9 5 2017 23:36

      2       0

      They can shut down exchanges but they cant genuinely stop residents using it due to its pseudonomous/anonymous nature. Other than a price crash I'm not sure how it unfolds. People may use it anyway because they have to as fiat slowly collapses.

  • 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).

    • DS

      David S.

      9 5 2017 18:36

      1       0

      Good interview, many poor choices on metaphors. We use metaphors to help others understand. When a poor metaphor is used the meaning is undermined. DLS

  • 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.

    • TM

      The-First-James M.

      9 5 2017 13:07

      8       0

      By that point, transaction fees ought to sustain the Network.

  • 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.

    • TM

      The-First-James M.

      9 5 2017 13:07

      7       0

      Don't stick in your life savings.

    • TM

      The-First-James M.

      9 5 2017 13:09

      5       0

      Hard Fork would mean your current Bitcoins double up - one set for the unforked chain and the other for the forked Blockchain. As to what would happen in terms of price, it would be highly volatile until the Market decided which Bitcoin Blockchain would become THE Bitcoin Blockchain. The other would become yet another Altcoin...

    • PN

      Paul N.

      9 5 2017 23:38

      4       0

      There will be a price crash and a few weeks of the market determining what is the real bitcoin. You will own coins on both chains, one will become worthless. It may trigger a multi year bear market depending on user confidence.

  • 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.

    • EM

      Ewan M.

      9 5 2017 12:25

      5       0

      Did you watch the video?

  • KJ

    Kulbir J.

    9 5 2017 11:15

    5       0

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

    • EM

      Ewan M.

      9 5 2017 12:17

      5       0

      I bought at $14. Tech Bubble 3.0. Loving it

    • PN

      Paul N.

      9 5 2017 23:40

      6       0

      In altcoins, liquidity matters more than marketcap. Ethereum is riding higher because a banking consortium says they want to use the tech and all of the promises of what it can do. I think Ethereum is the Tesla of cryptocurrencies. Trade it, dont become a believer.

  • KJ

    Kulbir J.

    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?

    • TL

      T L.

      9 5 2017 11:34

      10       0

      depends on your trading time horizon. if you are in for the long-term and you believe it goes to 5-6 digits then don't try time to time the entrance now. FOMO might start soon and 2-3k could be here very quickly this year.

    • LH

      Lloyd H.

      9 5 2017 14:39

      8       7

      One interesting thought, what If you switch off the power? Gold is still gold but bitcoin needs power to run the network, right? I also wonder about some kind of solar wind type of attack that could fry the computer circuits, Think snake plissken in escape from New York/LA films :-)

    • PN

      Paul N.

      10 5 2017 02:26

      4       0

      If you switch off global power millions (billions?) of people will freeze and starve to death. We would have problems bigger than what gold or bitcoin can fix. Everything from food to fresh water to commerce relies on power these days.

      If its merely your own local area having a blackout then the people in that area temporarily can't access their bitcoins and do payments - not the end of the world. In that case cash should be your best option really.

    • CZ

      Cyprian Z.

      10 5 2017 18:53

      7       1

      So he criticizes other crypto currencies for having already been hacked before but what about bitcoin? It is a revolutionary thing and a great investment but saying that it comes with no security issues is a lie. Most of issues might not relate to the protocol itself (think service providers) but are still security issues associated with investing in BTC. Great video though.

    • MS

      Matt S.

      13 6 2017 08:56

      0       0

      Bouced down off $3000, I'm waiting for a pullback to $1000.