Every day all I hear is people saying they’re gonna all be millionaires, any investment that you have to eat, sleep, and watch 24 hours a day is not worth having, I have 50 years of investing in my life and I did a deal old-fashioned way working hard whole life and now I have 4 revenue streams and I’m 68 years old
It’s crazy how hard it is to find content like this. I get bombarded by pro crypto content and even economists and investors I respected are big crypto guys now. Feel like I’m living in idiocracy.
One of the best interviews out there. Thank you gents! David is well equipped to talk about Cryptos. He understands very well about technology and fiat money creation and their histories. 👋👋👋
There are three simple reasons why Bitcoin can never be a realistic currency. First it is non fungible and so has no value. Second the transaction rate is too low to be used in any payment system other than a baby sitting groups where pop beads are better.. Three its securiry depends on the mining which is so energy intensive that even at the current level of use it is using 2% of global electrical power and mining does not work when there only a limited number of miners who need paying and can if they collude steal the bitcoins. The EU has regulated crypto and Blockchain activities effectively via the MiiCA law that relies on preventing fraud not prosecuting it.
WOW !! ...absolutely fascinating.! ....thank you for this Insight, it really gave weight to all I was feeling. The crypto is full of cons and thieves...regulation is needed...
@@realLoganMoody Why not interview Dr. Saifedean Ammous or Michael Saylor or have a debate between one of them & David Gerard...wrt the video, have heard all this before so I won't watch it, but anyone that thinks Blockchain Tech (aka distributed database) is useless does not understand reality...Also, the idea that BTC is better or worse than Fiat does not understand Fiat...or crypto.
It's a failure. Banks will never adopt in large scale. As said here, Blockchain helps nothing. Banks already have their own internal digital tech for fund transfer. To xfer internationally, you can use an electronic transfer method that is not using a volatile crypto. There's no reason to use xrp for transfer, only the underlying tech should be used
I will say that the longer Bitcoin is around, the more credible it becomes and the higher the possibility it might stick around for the long term. Many other crypto tokens have been literal pump and dumps and Bitcoin, with its established cycles, shouldn't be in that category.
They do it by broadening the definition of Ponzi scheme to something that could apply to many things. If Bitcoin is a Ponzi scheme (because people buy something hoping they could sell it at a higher price later) then the stock market is a Ponzi scheme.
A few things I dont like about fiat. Governments can just print more thus devaluing your purchasing power. You cant just save fiat or you will lose most of your wealth by the time you retire. Its very stressful. Why do we always need 2% inflation? I think people like Bitcoin becuase governments cant print it. Its a store of value. Like most of gold is used as a store of value. Its hard to create.
Who because a bunch of crypto guys bought a bunch of politicians and the next president to push their scheme to keep this shit going a little longer lol. It’s a zero sum game, it creates absolutely nothing of value, the only “store of value” is convincing more suckers to keep buying at the top. You’ve got the us president in your pocket now, surely this will be the last bubble before this blows up forever, how many more suckers can you possibly convince after this one.
@@Ned-bw5tt Gold has multiple uses. Even if gold became dramatically more available due to some extraordinary discovery, it would still hold intrinsic value. Bitcoin's main use is to get dollars out of it.
Every day all I hear is people saying they’re gonna all be millionaires, any investment that you have to eat, sleep, and watch 24 hours a day is not worth having, I have 50 years of investing in my life and I did a deal old-fashioned way working hard whole life and now I have 4 revenue streams and I’m 68 years old
It’s crazy how hard it is to find content like this. I get bombarded by pro crypto content and even economists and investors I respected are big crypto guys now. Feel like I’m living in idiocracy.
Absolutely! The pro krypto channels are absolute cancer. All of their thumbnails and scam clickbait titles. Aggravating
We live in a post truth society where no One believes anything. So crypto can be as valuable as the most successful company.
One of the best interviews out there. Thank you gents!
David is well equipped to talk about Cryptos. He understands very well about technology and fiat money creation and their histories. 👋👋👋
He makes some good points
The guy is spot on.
There are three simple reasons why Bitcoin can never be a realistic currency. First it is non fungible and so has no value. Second the transaction rate is too low to be used in any payment system other than a baby sitting groups where pop beads are better.. Three its securiry depends on the mining which is so energy intensive that even at the current level of use it is using 2% of global electrical power and mining does not work when there only a limited number of miners who need paying and can if they collude steal the bitcoins. The EU has regulated crypto and Blockchain activities effectively via the MiiCA law that relies on preventing fraud not prosecuting it.
Perhaps this is why Janet Yellen is asking for 81 trillion a year to “combat climate change”..smells funny, yes?
WOW !! ...absolutely fascinating.! ....thank you for this Insight, it really gave weight to all I was feeling. The crypto is full of cons and thieves...regulation is needed...
Glad you enjoyed it!
@@realLoganMoody Why not interview Dr. Saifedean Ammous or Michael Saylor or have a debate between one of them & David Gerard...wrt the video, have heard all this before so I won't watch it, but anyone that thinks Blockchain Tech (aka distributed database) is useless does not understand reality...Also, the idea that BTC is better or worse than Fiat does not understand Fiat...or crypto.
What’s his thoughts on ripppe?
BTC is the prototype and social conditioner. XRP is the completed project for case use and global integration. I mean their not even hiding it LOL.
It's a failure. Banks will never adopt in large scale. As said here, Blockchain helps nothing. Banks already have their own internal digital tech for fund transfer.
To xfer internationally, you can use an electronic transfer method that is not using a volatile crypto. There's no reason to use xrp for transfer, only the underlying tech should be used
This is not gonna age well
Calling Bitcoin a ponzi is such an old argument.
Theory of Gravity is old as well
Old makes it wrong? What is your level of education son?
I will say that the longer Bitcoin is around, the more credible it becomes and the higher the possibility it might stick around for the long term. Many other crypto tokens have been literal pump and dumps and Bitcoin, with its established cycles, shouldn't be in that category.
then calling fiat ponzi
They do it by broadening the definition of Ponzi scheme to something that could apply to many things. If Bitcoin is a Ponzi scheme (because people buy something hoping they could sell it at a higher price later) then the stock market is a Ponzi scheme.
A few things I dont like about fiat. Governments can just print more thus devaluing your purchasing power. You cant just save fiat or you will lose most of your wealth by the time you retire. Its very stressful. Why do we always need 2% inflation? I think people like Bitcoin becuase governments cant print it. Its a store of value. Like most of gold is used as a store of value. Its hard to create.
This is idiotic - and it hasn't aged well at all.
Who because a bunch of crypto guys bought a bunch of politicians and the next president to push their scheme to keep this shit going a little longer lol. It’s a zero sum game, it creates absolutely nothing of value, the only “store of value” is convincing more suckers to keep buying at the top. You’ve got the us president in your pocket now, surely this will be the last bubble before this blows up forever, how many more suckers can you possibly convince after this one.
BTC is not a “dollar derivative”. That’s just a stupid thing to say.
Might as well call gold a dollar derivative, no one is buying anything with gold 🤣.
@@Ned-bw5tt Gold has multiple uses. Even if gold became dramatically more available due to some extraordinary discovery, it would still hold intrinsic value. Bitcoin's main use is to get dollars out of it.
David Gerard should learn how much he doesn’t understand about BTC. It’s embarrassing
What does he not understand?
@@dans2971That is exactly what the WEF want you to think....
You will own nothing..
Blockchain technology is the spirit of the internet, this guy is clueless.
Sure, but since spirits are not real, blockchain in reality is just a very inefficient database.