I can't believe that such original, thoughtful, and insightful interviews are just out there for free. The only cost to acquiring quality knowledge today is time.
Whats so cool about Dave is that he is such a talented investor that he already built up so much wealth that he never ask (or need to ask) for patreon support. To me he seems to be operating this channel to help network/breakdown his consciousness (line of thought) more clearly with other high level thinkers; as well as pure altruistic motivation to enlighten / educate as many people as possible. For this. I have so much respect for you. A true older brother / teacher in a sense. I dont know how much longer you will operate this channel as it probably has no financial incentive for you, but i feel very lucky to have found you.
@@khuo0219 is a great place to work for and 666 a great deal of experience with the company and the company 77A the company is a great place to work and to work with you and your business and your business and your business and your business and your business and your business 66 your 6 business 66 is a 666 6 666 that 6 you 6666666666666 and you can make 6666 666 and
What a great conversation, you asked a lot of questions that were on my mind as doubts towards BTC. Yassine has so much knowledge on the topic and a joy to listen to him explain. A very worthwhile 2 hours of viewing. Thank you both so much!
THIS is what I would imagine is the job of MSM. Deep dive analysis and interviews with the experts. Kudos Dave! You deserve so much for bringing this quality to the masses.
One tiny piece of criticism is that I've noticed you tend to interrupt or speak over your guests. Also the questions tend to be long winded with a lot to unpack, whereas Joe Rogan and Lex Fridman tend to condense their questions into shorter but more direct questions. And they let their guests speak until they have nothing left to say. other than that I have enjoyed these chats so far.
@@susanlee6426 More like monologue followed up w/ a short amount of time given to the speaker to respond to the 20-odd points that were brought up in his soliloquy
Dave I wanted to thank you. You are the financial educator that I never had at school or university. All of your videos that I've watched are worth to watch again. Especially this one... Some much value, concentrated in 2 hours. Thanks man!
The fact that more and more of the bitcoin out there is held long-term by institutional investors is an amazing sign for bitcoin as a long-term asset. I always keep ~4% of my portfolio in bitcoin
Always keep in mind that those fund guys will quickly dump Bitcoin en masse if their governing authorities put any restrictions on them. After all it's not their money and they won't get punished heavily if all funds underachieve by the same 1% from their Btc allocation crashing in value. In the UK the FCA has already banned any derivatives based on Btc.
Great choice Dave - I’ve read Yassines papers. You should also bring Raoul Pal on. Bitcoin at the end of the day is a belief system just like anything else. Young people's belief in it is much higher than older people and therefore it has more future value ( amongst other reasons why it has future value ). I have to add that, for a layman investor, you are a visionary Dave. I’m learning a lot listening to your discussions. Thank you!
Dave your point Of view is so unique. It challenges me, challenges your guests and from that produces new questions and knowledge for me. Much appreciated
Nice, highly nice. Yassine, is a steward and oracle for bitcoin and both of you helped me to better understand the complex benefits of block chain and bit coin. Bravo.
I've only listened halfway and what a breathe of fresh air Yassine is. Great questions posed by Dave so far, and I like how tactful and masterful Yassine went about his business with smiling guided missiles exploding with self-revealing rhetorics.
Incredible interview! Thanks Dave and Yassine for sharing your insights. Thought provoking questions and clear well articulated answers. And refreshingly no mention of the moon! 💖
Yassine is such a great analyst and explained the concept so well that proves another case that RUclips knowledge is hugely better than reading research paper
Everything's value is determined by demand (and supply). EVERYTHING. The question is always, what drives demand, and what influences supply. At a core level, that's all there is to it
Great interview Dave and what a great guest! 👏🏽👏🏽👏🏽... Now you just have to interview Michael Saylor from Microstrategy to be fully convinced about #Bitcoin.
If you think Yassine is the best you've listened to about BTC, wait till you listen to the likes of Robert Breedlove, John Vallis, Parker Lewis, Stephan Livera, Saifedean Ammous etc. I think Dave loves to debate for debating sake and not really ingest what's been taught.
Dave - seems like you're thinking of scarcity in terms of a supply-demand tension. The attribute of scarcity refers to the supply side being fixed, or not. TSLA does not have a fixed supply; BTC does. Whether or not that is sufficient demand to drive up the price is a separate issue and depends on how much value the asset brings to the market. But where demand is kept the same for each, the fact that one has a limited supply and the other does not, makes the former more inherently valuable as a store of value than the other.
What people like you don't understand is that 21 million is the number of units of a whole bitcoin. But each bitcoin can be sliced into so many units and even a Satoshi could theoretically be worth millions of dollars in the future. That is what Dave is saying 21 million is the whole pie. If you want more supply, each bitcoin is broken up further into fractions. It is subtle, it took me a while to understand this too. So, it is not really that scarce.
@@vgeorge101 NO. Breaking a unit up into smaller pieces does not increase supply! It doesn’t matter how many pieces you cut a pizza into, they all add up to a single pizza. Seriously, think this through. You’re saying there are more dollars than everyone thinks there are, because of cents...
@@vgeorge101 That's like saying I have ten dollars, but because ten dollars can be subdivided a thousand cents, I get a thousand dollars. A cent is not a dollar. A satoshi is not a full BTC. That BTC is just as scarce as ever, no matter how much you have subdivided it. What you've described is a misunderstanding of the concept of scarcity and how it relates to value, and it's easy to make that mistake if all one looks at is the quantity (headline figure of X amount) without realising what you're looking at what you are quantifying (amount of what?).
I appreciate the interview, but listening to Dave’s misunderstanding of BTC scarcity was even more frustrating than his interview with the Now You Know guys. Yikes - just brutal.
Awesome discussion. So cool to be able to listen to two such well informed individuals offer clear arguments and counter arguments on a topic like this, condensing months and years of learning into a distilled 2 hour convo. Thanks Dave
Totally agree! Hearing his weak arguments and timelines for outcomes so far out is insanely bullish. He keeps trying to put stuff out of the equation which you cannot put out of the equation: Just stuff like let’s put Bitcoin‘s decentralised nature out of the equation Let’s take Bitcoin’s Un-Hackable computer network out of the equation Let’s take Bitcoin’s mathematical limited supply out of the equation Let’s take governments likelihood of further diluting all Fiat currencies is out of the equation He says things like let’s assume all governments in the world will agree to ban bitcoin? When have all governments in the world ever agreed on anything? He says let’s take bitcoin limited supply and scarcity out of the equation! He says things like the dollar has trust All things get value because people give them value! People trust bitcoin that’s why it becomes scarce! Talks about a pie being divided into slices and not being divided any more as if that were an argument for the opposite of scarcity! A pie is a pie boy and you cannot slice it and keep slicing it and tell people it’s still valuable and there’s always more unless it’s dollar fiat currency Etc etc etc ... Bullish !
@@chrisj8764 I'd disagree - it's not a Biden vs Trump sure (and they did have some common ground), but under the politeness it's still a debate and Yassine makes a better case. Not to mention that Dave asks a few questions that make me think he doesn't understand btc at all (like the tsla comparison or "what if the miners get together and decide to do a 10:1 split" - hopefully he was just relaying a question on behalf of his viewers or something).
I think half the time Dave is inserting his own true questions and the other half of the time he’s going through the checklist of basic questions that A LOT of people have so that his videos are as helpful as possible in allowing the broadest audience possible to understand bitcoin.
Can't believe I watched the whole video, valuable info! Thank you so much Dave and Yassine and for the internet making it possible to connect and share, very much appreciated!
After adjusting for Inflatioin, Bitcoin is lower now than it was at it s12/17/2018 peak. More volatility than anything I have ever owned and two years to get back to where you started? Please clarify how it has been best performing? At what?
Yassine has obviously prepared beforehand and presents his case very well. Doesn't feel like a 2 hour video at all (although I watched it at a much faster speed).
An answer to Dave's scarce pieces of a pie problem: The issuance of more stock or money supply adds more pieces to the same pie by reducing the size of the pieces currently held. A stock split doesn't change your wealth or purchasing power, but new issuance of shares or dollars does.
@@aridematos3555 In nominal terms, yes, but in terms of purchasing power, no. The pie only grows when more products and services are being generated. The total production of a society is divided by the money in circulation, times its velocity. All else equal, adding a dollar to the money supply gains its value by reducing the value of all other dollars in circulation
In regards to scarcity, you can add infinite decimal places to the right but when you do that, you make the person that owns the whole coin more valuable. There will only be 21 million coins and people will lose their coins. So in effect, the asset is scarce and going to be worth more.
Dave question: now that we’ve covered the bitcoin use case and main argument can we please look at metrics (how to see the changing demand landscape) and competition from other crypto? I don’t understand why bitcoin is the standout when it seems clear others are better... Yes my guys!! This was the best bitcoin anything I’ve ever seen. This guy did a much better job than pomp even though I think he’s the man. More bullish in bitcoin now.
Its called network effect. Lets take instagram for example, which right now has millions of users maybe a billion. If the producers of instagram say “hey we just created instagram 2.0, come came an account here and use this” no one is going to go to instagram 2.0 because the entire population is using the original insta. Essentially, in the network effect, people create the value, and not necessarily the service whether its instagram 2.0 which is twice as better.
Bitcoin has many demand angles. There is demand for bitcoin purchases on exchanges, there is demand for bitcoin by miners (hashpower allocated to the network for block rewards) and mining pools, there is demand for transaction space in each block (mempool and transaction fees). Each one has a role to play in defining value -- and comparing the value of bitcoin to other crypto projects.
I agree with Yassine: some countries will attempt to band bitcoin. And, as is universally true with capital controls, capital and capital creators will flee their borders. Ban bitcoin, destroy your economy.
Hooked right from the beginning and before I knew it 15 min had passed. Watched the whole 2hrs and found the discussion enlightening. Great interview Dave.
Dave, have you ever read or listened to “Bitcoin Standard”? Your questions and concerns about Bitcoin are very basic, but I am glad you are having these discussions
you killing it dave this whole haveing guests and conversations is good. i been dipping a toe and monitoring for myself, so far good but still no solid go.
I watched BTC go from 7000 to 19000 everyday but never bought any.(A couple years ago) I still check in and have watched a multitude of videos on bitcoin on this platform. Dave's hesitance is exactly what I'm looking for. His questions resonate with mine. But I've seen all I need to see. Buying 20k in very near future with 4-5 installments. I've truly went from enthralled to convicted.
@@recovery116 I share much of concerns but I ended up investing small amount of money just so that I can keep learning about this elephant in the room called a monetary structure.
Started bearish now a bull. This is what I needed also. Have 5% of portfolio in currently and am on a steep learning curve while ‘dating’ his new addition before seeing I want to go in heavy. Would love to know how to read desmans etc as mentioned + comparison to other crypto
The best thing about Bitcoin is that it’s built on immutable laws, like the laws of physics. Nobody has an advantage over someone else, no matter their power, wealth or intentions.
I would agree about the strength of immutable laws; but unlike physics which is very hard to fake out, this is a man-made system and therefore harder to validate or prove. For example, what if a group of liars decided to promote a story that there really are 63 million bitcoins not 21 million, and they aren't telling you about the other 42 million. Then despite the truth and the immutable laws that protect the truth, a large number of Americans are going to believe whatever conspiracy theories that are cooked up around the secret 42 million bitcoin. The threat isn't from bitcoin as designed, the threat is from outside the system from liars that would cause mistrust. Witness how American democracy has been been exposed as easily unwound by bad actors despite prior confidence and trust in democratic institutions and the rule of law. This is what gives me pause about owning bitcoin.
@vctjkhme But the question is, will that be worse than the sum of every bank heist, liquor store hold-up, purse snatching and financial fraud happening every day all over the world?
Thank you for your hard work! It took me almost a whole day to watch the interview, follow up on things the both of you mentioned, make notes... This has given me a lot more information than anything I've read/watched before. You're regularly creating and sharing free Masterclasses.
Really enjoying the interviews! Great to hear discussions like this. It’s probably a lot of extra work but having standalone clips could really help grow the channel as well!
I second this motion! So many of these time-stamped segments would be videos I would click on when I want to consume knowledge 10-15min at a time. I know it's just the psychology of it; 6 x 10min seems easier to consume than 1 x 60min
Thank you Dave for bringing top minds to interview. These slow pace interview makes us to understand better than short video. I keep these long ones for weekend
I love your videos Dave but I have to say you do want to prove your point at all costs. “When you remove the currency aspect of bitcoin...” You can’t. It’s whole point of existence is to be a predictable digital currency. I don’t get the comparisons to TSLA stock.
Actually if you watch the whole video you’ll see Yassine and I actually come to an agreement that Bitcoin’s value is largely determined by demand and that’s the most important factor. Also in the interview we also taught about the weakness of the Bitcoin as currency argument. Store of value (ie, digital asset) vs currency are two very different things. Bitcoin is a challenging issue for most to discuss, but I thought the discussion went great and also learned a lot. The 2nd hour of the interview flowed better than the first.
@@Dave_Lee Store of value and currency are not entirely separate things, they just have been separated (for largely good reasons at the time) since we’ve moved away from the gold standard. Bitcoin will be a fantastic store of value (after it’s widely held and fully valued) AND the best currency ever due to its enormously better characteristics of non-confiscatableness, precise divisibility, non-physicality, and mostly importantly, fixed unit of account.
Dave , Thank you. Your interviews with these great ppl helping me to understand BTC more. You put in so many time and efforts in analyzing BTC because you know something big is happening.
Dave: "People underestimate the profound nature of bitcoin as HOPE" Love it! And, Yassine Elmandjira... What a smart guy. Loved this interview. Keep'em coming Dave.
Scarcity doesn't depend on demand. And assets can be scarce without any demand, but it won't have value. However, any significantly valuable asset does necessarily have to be scarce. Tesla would be a lot less valuable if they issued 1% every day. However, this is not the reason why tesla is valuable, but it is one requirement
This is by far the best discussion I've yet encountered exploring doubts about bitcoin. Your open-minded skepticism is commendable. You make some great points and actively listen with an enquiring mind. Much respect.
Great episode!! You do have great knowlege in BTC (and even more after this chat) I expect you do have a piece by now! Don’t let ur ‘hypotheticals’ get in the way of a 1 to 5 % allocation. (Hypotheticals, like what happens to Tesla if Elon leaves, or autopilot gets hacked leading to accidents, can always be stated, but should’t be over weighted). Such risks has to be there or price would already be 10 X
Like many have shared, amazing content and great guest. I appreciate you being critical of BTC but I also hope more time was spent letting the guest speak about the future of BTC and where he and Ark sees it going in 5,10, 20 years.
I can't believe that such original, thoughtful, and insightful interviews are just out there for free. The only cost to acquiring quality knowledge today is time.
Playback speed 1.25 ftw!
eye roll
Views = $$$
So true. Free education
love watching Dave Lee getting schooled
Whats so cool about Dave is that he is such a talented investor that he already built up so much wealth that he never ask (or need to ask) for patreon support.
To me he seems to be operating this channel to help network/breakdown his consciousness (line of thought) more clearly with other high level thinkers; as well as pure altruistic motivation to enlighten / educate as many people as possible.
For this. I have so much respect for you.
A true older brother / teacher in a sense.
I dont know how much longer you will operate this channel as it probably has no financial incentive for you, but i feel very lucky to have found you.
This guy is a lot better than the previous Bitcoin guy a few weeks ago. Thanks to both of you.
It is a evolution of conversation. Pomp is not wrong, he just cannot discuss it in depth.
@@khuo0219 is a great place to work for and 666 a great deal of experience with the company and the company 77A the company is a great place to work and to work with you and your business and your business and your business and your business and your business and your business 66 your 6 business 66 is a 666 6 666 that 6 you 6666666666666 and you can make 6666 666 and
What a great conversation, you asked a lot of questions that were on my mind as doubts towards BTC. Yassine has so much knowledge on the topic and a joy to listen to him explain. A very worthwhile 2 hours of viewing. Thank you both so much!
Dave, the fact that you don’t constantly plug free shares and affiliate links makes me devoutly loyal to your channel. Thank you for your time. ❤️
Dave, thanks for the timely video and timestamps! Great stuff
Yes, the timestamps are wonderful.
Dave!! This is real financial journalism. So good!
This is insanely value adding! Thanks Dave and Yassine!
The value is diluted by his constant interruptions and mumbling
@@WRNPR Didn't think that was the case at all.
THIS is what I would imagine is the job of MSM. Deep dive analysis and interviews with the experts. Kudos Dave! You deserve so much for bringing this quality to the masses.
This guy so clearly explains bitcoin, he should take the helm of Andreas in future in explaining bitcoin.
One tiny piece of criticism is that I've noticed you tend to interrupt or speak over your guests. Also the questions tend to be long winded with a lot to unpack, whereas Joe Rogan and Lex Fridman tend to condense their questions into shorter but more direct questions. And they let their guests speak until they have nothing left to say.
other than that I have enjoyed these chats so far.
Dave’s format is more of a 2-way discussion rather than a typical interview.
@@susanlee6426 More like monologue followed up w/ a short amount of time given to the speaker to respond to the 20-odd points that were brought up in his soliloquy
Eric Gumba great comment. I completely agree on all counts including enjoying these chats
Dave I wanted to thank you. You are the financial educator that I never had at school or university. All of your videos that I've watched are worth to watch again. Especially this one... Some much value, concentrated in 2 hours. Thanks man!
Great to hear!
It's hard to find a youtuber who provides high quality content DAILY! Thanks so much Dave!
Yes
Tesla Daily, Solving the Money Problem
Yassine is a beast. Insane intellect and I got such great value from this video. Thank you both
Thanks to you both for the fantastic discussion. And what a great ambassador for ARK Yassine is! Great stuff - thanks again Dave! 🇬🇧
I’m two-thirds of the way through listening to this and just want to say this is a GREAT interview/discussion! Thanks!
Great interview/discussion. So insightful. Two extremely intelligent people discussing a fascinating subject matter. Great job David and Yassine!
The first few mins of this already made me a fan of Yassine. Great explanations, clear examples and awesome arguments.
The fact that more and more of the bitcoin out there is held long-term by institutional investors is an amazing sign for bitcoin as a long-term asset. I always keep ~4% of my portfolio in bitcoin
Long term ? Not sure , they just want to make money
What if they will just shorten you?
4??
Seriously. The biggest trade of the decade .
Always keep in mind that those fund guys will quickly dump Bitcoin en masse if their governing authorities put any restrictions on them. After all it's not their money and they won't get punished heavily if all funds underachieve by the same 1% from their Btc allocation crashing in value. In the UK the FCA has already banned any derivatives based on Btc.
until they buy every bitcoin out there and refuse to sell any. Its after all only 21 million bitcoins.. which is nothing for wall street
I watched the entire thing. Very interesting discussion. Time flew by.
40:00 excellent point Yassine, thank you for taking your time talking to Dave, and thanks Dave to doing this interview!
Great choice Dave - I’ve read Yassines papers. You should also bring Raoul Pal on. Bitcoin at the end of the day is a belief system just like anything else. Young people's belief in it is much higher than older people and therefore it has more future value ( amongst other reasons why it has future value ). I have to add that, for a layman investor, you are a visionary Dave. I’m learning a lot listening to your discussions. Thank you!
This discussion was great! Learned a lot. Thanks Dave & Yassine!
Dave your point Of view is so unique. It challenges me, challenges your guests and from that produces new questions and knowledge for me.
Much appreciated
I bought some more Bitcoin after watching this interview
Same here. ETH all the way!
Keep buying to zero ...
@@podangadubukus bruh ..
Yep, keep buying Bitcoin until fiat goes to zero. Fiat is the riskiest asset one can hold, few understand this.
Same here! Lol thanks Dave
Nice, highly nice. Yassine, is a steward and oracle for bitcoin and both of you helped me to better understand the complex benefits of block chain and bit coin. Bravo.
Great to hear!
Enjoyed this. Yassine is a beast and a great voice for the crypto space.
I've only listened halfway and what a breathe of fresh air Yassine is. Great questions posed by Dave so far, and I like how tactful and masterful Yassine went about his business with smiling guided missiles exploding with self-revealing rhetorics.
Incredible interview! Thanks Dave and Yassine for sharing your insights. Thought provoking questions and clear well articulated answers. And refreshingly no mention of the moon! 💖
Yassine is such a great analyst and explained the concept so well that proves another case that RUclips knowledge is hugely better than reading research paper
Cathie Wood certainly has done an incredible job hiring well spoken, intelligent, interesting people.
True 👍🏻
Can’t agree more! The rigor of argument is sparkling!
Thanks Dave. If these are the best BEAR arguments you can muster, I'm convinced now more than ever that Bitcoin will succeed
these conversations are how we slog our way to the truth
The interviewer doesn't understand the macro economic issues at hand. Shares of a public listed company versus bitcoin.... Really?
Your work rate is epic. Keep it going love it ❤️
Hes the man
Yes amazing work ethic and with a family too.
Wow. What a world class interview. Now I have a lot to do in sorting that out in my mind.
Everything's value is determined by demand (and supply). EVERYTHING.
The question is always, what drives demand, and what influences supply. At a core level, that's all there is to it
True
One of the best discussions ive seen on bitcoin
Great interview Dave and what a great guest! 👏🏽👏🏽👏🏽... Now you just have to interview Michael Saylor from Microstrategy to be fully convinced about #Bitcoin.
you may as well try to convince him that god exists or doesn't exist
Dave... I have learnt so much in these latest series of interviews. These are some real raw original ideas and unfiltered discussions.
By far the best person I've heard talking about BTC, very good points by Yassine
If you think Yassine is the best you've listened to about BTC, wait till you listen to the likes of Robert Breedlove, John Vallis, Parker Lewis, Stephan Livera, Saifedean Ammous etc. I think Dave loves to debate for debating sake and not really ingest what's been taught.
Dave - seems like you're thinking of scarcity in terms of a supply-demand tension. The attribute of scarcity refers to the supply side being fixed, or not. TSLA does not have a fixed supply; BTC does. Whether or not that is sufficient demand to drive up the price is a separate issue and depends on how much value the asset brings to the market. But where demand is kept the same for each, the fact that one has a limited supply and the other does not, makes the former more inherently valuable as a store of value than the other.
💯
What people like you don't understand is that 21 million is the number of units of a whole bitcoin. But each bitcoin can be sliced into so many units and even a Satoshi could theoretically be worth millions of dollars in the future. That is what Dave is saying 21 million is the whole pie. If you want more supply, each bitcoin is broken up further into fractions. It is subtle, it took me a while to understand this too. So, it is not really that scarce.
@@vgeorge101 NO. Breaking a unit up into smaller pieces does not increase supply!
It doesn’t matter how many pieces you cut a pizza into, they all add up to a single pizza.
Seriously, think this through.
You’re saying there are more dollars than everyone thinks there are, because of cents...
@@vgeorge101 That's like saying I have ten dollars, but because ten dollars can be subdivided a thousand cents, I get a thousand dollars. A cent is not a dollar. A satoshi is not a full BTC. That BTC is just as scarce as ever, no matter how much you have subdivided it. What you've described is a misunderstanding of the concept of scarcity and how it relates to value, and it's easy to make that mistake if all one looks at is the quantity (headline figure of X amount) without realising what you're looking at what you are quantifying (amount of what?).
I appreciate the interview, but listening to Dave’s misunderstanding of BTC scarcity was even more frustrating than his interview with the Now You Know guys. Yikes - just brutal.
Awesome discussion. So cool to be able to listen to two such well informed individuals offer clear arguments and counter arguments on a topic like this, condensing months and years of learning into a distilled 2 hour convo. Thanks Dave
the more i listen to Dave's debates about bitcoain and the more i hear his arguments against it, the more i wonna buy it )))
Yea but i cant even afford a full coin....lol
And the more money that you can't put in Tesla
@@alexguy96 you don't need to buy a full coin.
@@mikeymce9931 yeah i know but im no pleb cmon i dont want a fraction of one go big or go home
Totally agree! Hearing his weak arguments and timelines for outcomes so far out is insanely bullish.
He keeps trying to put stuff out of the equation which you cannot put out of the equation:
Just stuff like let’s put Bitcoin‘s decentralised nature out of the equation
Let’s take Bitcoin’s Un-Hackable computer network out of the equation
Let’s take Bitcoin’s mathematical limited supply out of the equation
Let’s take governments likelihood of further diluting all Fiat currencies is out of the equation
He says things like let’s assume all governments in the world will agree to ban bitcoin?
When have all governments in the world ever agreed on anything?
He says let’s take bitcoin limited supply and scarcity out of the equation!
He says things like the dollar has trust
All things get value because people give them value! People trust bitcoin that’s why it becomes scarce!
Talks about a pie being divided into slices and not being divided any more as if that were an argument for the opposite of scarcity!
A pie is a pie boy and you cannot slice it and keep slicing it and tell people it’s still valuable and there’s always more unless it’s dollar fiat currency
Etc etc etc ...
Bullish !
Thanks for offering a rigorous and solid discussion on the different perspectives about Bitcoin.
Yassine wins this round.
Dave’s not fighting to win. You’re missing the point.
It was a discussion not a debate
@@chrisj8764 I'd disagree - it's not a Biden vs Trump sure (and they did have some common ground), but under the politeness it's still a debate and Yassine makes a better case. Not to mention that Dave asks a few questions that make me think he doesn't understand btc at all (like the tsla comparison or "what if the miners get together and decide to do a 10:1 split" - hopefully he was just relaying a question on behalf of his viewers or something).
@@mattschwab5143 You are being too serious I think.
I think half the time Dave is inserting his own true questions and the other half of the time he’s going through the checklist of basic questions that A LOT of people have so that his videos are as helpful as possible in allowing the broadest audience possible to understand bitcoin.
Can't believe I watched the whole video, valuable info! Thank you so much Dave and Yassine and for the internet making it possible to connect and share, very much appreciated!
Congrats on finishing the whole video! Had a fun time and thought it was a valuable conversation.
Thank you teh internet!
People need to understand that
1. Bitcoin has been the best performing asset of the past decade
2. The risks
The risks to not holding it?
@@Phoenixklinge exactly, that’s the risk Dave is not talking about
past performance does not = future.
Magic beans
After adjusting for Inflatioin, Bitcoin is lower now than it was at it s12/17/2018 peak. More volatility than anything I have ever owned and two years to get back to where you started? Please clarify how it has been best performing? At what?
I got this guy. Very clear. Bitcoin is a common recognized exchangeable commodity. Bitcoin almost like a digital gold
“Bitcoin is like a sci-fi movie...out of this world” 🤩
Yassine has obviously prepared beforehand and presents his case very well. Doesn't feel like a 2 hour video at all (although I watched it at a much faster speed).
I heard David say “I get it” a lot, but I don’t think he really does yet. But he will in due time.
Wow Yassine really explains bitcoin perfectly and clearly.
An answer to Dave's scarce pieces of a pie problem:
The issuance of more stock or money supply adds more pieces to the same pie by reducing the size of the pieces currently held. A stock split doesn't change your wealth or purchasing power, but new issuance of shares or dollars does.
So the issuance of dollar would make the pie bigger instead of cutting the pieces smaller right?
@@aridematos3555 In nominal terms, yes, but in terms of purchasing power, no. The pie only grows when more products and services are being generated. The total production of a society is divided by the money in circulation, times its velocity. All else equal, adding a dollar to the money supply gains its value by reducing the value of all other dollars in circulation
Dave, this is some of the best content I have seen on RUclips. Your channel is uniquely educational and powerful
In regards to scarcity, you can add infinite decimal places to the right but when you do that, you make the person that owns the whole coin more valuable. There will only be 21 million coins and people will lose their coins. So in effect, the asset is scarce and going to be worth more.
Highly intelligent conversation. This guy knows his stuff so well.
Dave question: now that we’ve covered the bitcoin use case and main argument can we please look at metrics (how to see the changing demand landscape) and competition from other crypto? I don’t understand why bitcoin is the standout when it seems clear others are better...
Yes my guys!! This was the best bitcoin anything I’ve ever seen. This guy did a much better job than pomp even though I think he’s the man. More bullish in bitcoin now.
Its called network effect. Lets take instagram for example, which right now has millions of users maybe a billion. If the producers of instagram say “hey we just created instagram 2.0, come came an account here and use this” no one is going to go to instagram 2.0 because the entire population is using the original insta. Essentially, in the network effect, people create the value, and not necessarily the service whether its instagram 2.0 which is twice as better.
ARK Yassine, is amazing and with great thanks for this interview to Dave for proposing these questions.
Wow, Yassine's competence is off the charts!
One of the best videos I’ve seen in a long time
Bitcoin has many demand angles. There is demand for bitcoin purchases on exchanges, there is demand for bitcoin by miners (hashpower allocated to the network for block rewards) and mining pools, there is demand for transaction space in each block (mempool and transaction fees). Each one has a role to play in defining value -- and comparing the value of bitcoin to other crypto projects.
Dave and Yassin I just have to say how grateful I am for a truly intellectual and through provoking experience. Thank you.
I agree with Yassine: some countries will attempt to band bitcoin.
And, as is universally true with capital controls, capital and capital creators will flee their borders.
Ban bitcoin, destroy your economy.
Hooked right from the beginning and before I knew it 15 min had passed. Watched the whole 2hrs and found the discussion enlightening. Great interview Dave.
Dave, have you ever read or listened to “Bitcoin Standard”? Your questions and concerns about Bitcoin are very basic, but I am glad you are having these discussions
Fascinating conversation between two intelligent and knowledgeable people.
you killing it dave this whole haveing guests and conversations is good. i been dipping a toe and monitoring for myself, so far good but still no solid go.
I watched BTC go from 7000 to 19000 everyday but never bought any.(A couple years ago)
I still check in and have watched a multitude of videos on bitcoin on this platform. Dave's hesitance is exactly what I'm looking for. His questions resonate with mine. But I've seen all I need to see. Buying 20k in very near future with 4-5 installments. I've truly went from enthralled to convicted.
@@recovery116 I share much of concerns but I ended up investing small amount of money just so that I can keep learning about this elephant in the room called a monetary structure.
Started bearish now a bull. This is what I needed also. Have 5% of portfolio in currently and am on a steep learning curve while ‘dating’ his new addition before seeing I want to go in heavy. Would love to know how to read desmans etc as mentioned + comparison to other crypto
@@jadepenn7407 Hi, could you tell how to buy a bitcoin(s), please?
@@nd8086 Depends what country you are from and how much you are wanting?
This video is insanely valuable - I can't believe videos like this are being shared for free 🤯, thank you so much Dave
Glad you enjoyed it!
The best thing about Bitcoin is that it’s built on immutable laws, like the laws of physics. Nobody has an advantage over someone else, no matter their power, wealth or intentions.
I would agree about the strength of immutable laws; but unlike physics which is very hard to fake out, this is a man-made system and therefore harder to validate or prove. For example, what if a group of liars decided to promote a story that there really are 63 million bitcoins not 21 million, and they aren't telling you about the other 42 million. Then despite the truth and the immutable laws that protect the truth, a large number of Americans are going to believe whatever conspiracy theories that are cooked up around the secret 42 million bitcoin. The threat isn't from bitcoin as designed, the threat is from outside the system from liars that would cause mistrust. Witness how American democracy has been been exposed as easily unwound by bad actors despite prior confidence and trust in democratic institutions and the rule of law.
This is what gives me pause about owning bitcoin.
@vctjkhme But the question is, will that be worse than the sum of every bank heist, liquor store hold-up, purse snatching and financial fraud happening every day all over the world?
I'm not sure I agree, when looking at the roles of whales in trading. Big bitcoin holders have the power to move markets.
Thank you for your hard work! It took me almost a whole day to watch the interview, follow up on things the both of you mentioned, make notes... This has given me a lot more information than anything I've read/watched before. You're regularly creating and sharing free Masterclasses.
I had been desperately waiting for this! Thanks Dave and Yassine
desperately? a bit hyperbolic, given these times
Really enjoying the interviews! Great to hear discussions like this.
It’s probably a lot of extra work but having standalone clips could really help grow the channel as well!
I second this motion! So many of these time-stamped segments would be videos I would click on when I want to consume knowledge 10-15min at a time. I know it's just the psychology of it; 6 x 10min seems easier to consume than 1 x 60min
Fantastic conversation. Great engagement, give and take.
Thank you Dave for bringing top minds to interview. These slow pace interview makes us to understand better than short video. I keep these long ones for weekend
Thanks for listening
I love your videos Dave but I have to say you do want to prove your point at all costs. “When you remove the currency aspect of bitcoin...” You can’t. It’s whole point of existence is to be a predictable digital currency. I don’t get the comparisons to TSLA stock.
Actually if you watch the whole video you’ll see Yassine and I actually come to an agreement that Bitcoin’s value is largely determined by demand and that’s the most important factor. Also in the interview we also taught about the weakness of the Bitcoin as currency argument. Store of value (ie, digital asset) vs currency are two very different things. Bitcoin is a challenging issue for most to discuss, but I thought the discussion went great and also learned a lot. The 2nd hour of the interview flowed better than the first.
@@Dave_Lee i believe it can be both at one point but i guess time will tell. Thank you for your reply and your discussions. I learn a lot.
@@Dave_Lee Store of value and currency are not entirely separate things, they just have been separated (for largely good reasons at the time) since we’ve moved away from the gold standard.
Bitcoin will be a fantastic store of value (after it’s widely held and fully valued) AND the best currency ever due to its enormously better characteristics of non-confiscatableness, precise divisibility, non-physicality, and mostly importantly, fixed unit of account.
Thank you for asking the hard questions Dave and letting people learn more about Bitcoin for its adoption.
Thanks Dave!
Great job Dave; best video I’ve watched on Bitcoin! 👏
Dave, what are your thoughts on getting Elon Musk for a quick interview before we enter 2021?
Or before he leaves this planet to get to Mars
I imagine Dave has been reaching out to Elon almost daily.
@@stoor79 I'd doubt he'd bother - knowing as much about Elon and his work load as he does.....
this is pure gem:
@ - 38:25 : BTC’s weakness as currency
@ - 40:00 : Benefits of BTC choosing security over speed
@ - 42:50 : Lightning network
Yassine is stretching in the beginning of this interview like he is preparing for a boxing match 🤣🤣
And his opponent came in kicking
Lol
Dave , Thank you. Your interviews with these great ppl helping me to understand BTC more. You put in so many time and efforts in analyzing BTC because you know something big is happening.
Great conversation! I’m still a bitcoin bull!
Dave: "People underestimate the profound nature of bitcoin as HOPE"
Love it!
And, Yassine Elmandjira... What a smart guy. Loved this interview.
Keep'em coming Dave.
Scarcity doesn't depend on demand. And assets can be scarce without any demand, but it won't have value. However, any significantly valuable asset does necessarily have to be scarce. Tesla would be a lot less valuable if they issued 1% every day. However, this is not the reason why tesla is valuable, but it is one requirement
This is by far the best discussion I've yet encountered exploring doubts about bitcoin. Your open-minded skepticism is commendable. You make some great points and actively listen with an enquiring mind. Much respect.
The interviewer's questions sometimes lasted for several minutes. I think that was frustrating for Yassine.
Not so sure, I think it was frustrating for you so maybe you're projecting that onto Yassine as a result
It says “chat” in the title
Great episode!! You do have great knowlege in BTC (and even more after this chat) I expect you do have a piece by now! Don’t let ur ‘hypotheticals’ get in the way of a 1 to 5 % allocation. (Hypotheticals, like what happens to Tesla if Elon leaves, or autopilot gets hacked leading to accidents, can always be stated, but should’t be over weighted). Such risks has to be there or price would already be 10 X
Wow! Go ARK and Dave.
Like many have shared, amazing content and great guest. I appreciate you being critical of BTC but I also hope more time was spent letting the guest speak about the future of BTC and where he and Ark sees it going in 5,10, 20 years.
What a great podcast. The amount of info I have learned from this is beyond words, thank you. I am sharing this with my community now!
Dave, I have listened to this video twice. What a great conversation. Thank you !
Two really smart people having a great discussion, like truly great! Thanks for the content and stream of both of your thoughts and insights!
Glad you enjoyed it!
Yassine is plain facinating! Great work!
Glad you think so!
I have watched BTC since 2012 when it was $2, I only seen it as means of exchange. but look at the price now.
Dave and Yassine, you've provided much value in this video by educating us more about Bitcoin, crypto etc. Thank you sirs
i love how the open conversation.
that was the best bitcoin talk I have listened to yet. Thank you both.
Dave, you really should have someone talk about Ethereum 2.0 and the transition to proof of stake
🤯🤩👍
Hands down the best conversation I’ve heard on Bitcoin! So educational and helpful! Thank you so much guys!