Josh Sigurdson talks with Max Keiser of The Keiser Report on RT about the future of Bitcoin and blockchain technology as we see several attempts to create an ETF on Bitcoin. Max gives us his thoughts on it and surprisingly he's not overly concerned by the notion though points out the potential for us to see what happened in the gold markets with ETFs.
Max also goes into where he thinks Bitcoin is going in the near future as so many analysts make absurd claims with no evidence to back them up other than speculation of course. Max also talks about the difference between decentralized cryptocurrency and a centrally planned cashless society like we see popping up in China and India.
Finally, Max tells us what his favorite cryptocurrency outside of Bitcoin and Maxcoin is. It may or may not involve a market innovation allowing Venezuelans to feed themselves. Who wouldn't be in support of that?
We're always happy to talk with Max. Stay tuned for more from WAM!
Video edited by Josh Sigurdson
Graphics by Bryan Foerster and Josh Sigurdson
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Max, I love you and Stacy no matter what! But please, please review or at least mention a new coin called APL/Apollo. It is one of a couple of thousand unknown projects, but this one is worth your time, I swear! Whatever Monero has going on in terms of privacy, Apollo has it beat by a country mile. Please check it out and let us know what you think, please broadcast the word regarding APL.
It's interesting how they both discourage the competition of other digital coins coming onto the scene. I think it scares them. If the other digital coins didn't matter, then why discourage their presence?
Crypto maniacs seem more concerned about when cryptos will skyrocket than their original, genuine purpose: free decentralized transactions.
Crypto maniacs are actually ponzi maniacs and they don't realize, they delude themselves.
Phoenix has arrived. Liquid just been initiated watch out swift bitcoin is coming for you. Bitcoin side chain can eradicate world poverty. Universal credit can be introduced helping all the people of the world come together. All nations can amalgamare their nations currencies on the bitcoin side chain. Countries.now.have a way to become debt free and stabilize inflation. Wow a free world taking care of each other. Liquid btc side chain can help humanity. Watch this space
Hey I like the idea of a de-centralized currency just as much as the next guy...but so long as crypto's are BACKED BY NOTHING then they are no better than or different than fiat currency which is BACKED BY NOTHING. Back a crypto with REAL gold or silver and i will listen. Until then talk to the hand while I buy REAL gold and silver. Why swap paper NOTHING OF VALUE for a digital... NOTHING OF VALUE ??
Crypto...No I'm not getting tripped up in semantics I am getting tripped up in logic and reason. It's ok son..I too was once financially ignorant. Seashells were once a CURRENCY of exchange...a medium of exchange..not money. . Bitcoin is a cryptoCURRENCY not a cryptoMONEY. Perhaps someday you too will understand the difference between currency and money as I now do..perhaps not.
+longrider money can be anything... Seashells were once considered a sound form of money. You're getting too caught up in definitions. Fab and others above are correct... Bitcoin is backed by maths which is absolutely unalterable and something that no form of money in the history of man has ever been able to achieve.
Fab...I lack understanding ?? Bitcoin is NOT MONEY...It's CURRENCY...It's called a crypto CURRENCY not a crypto MONEY. It is currency created out of thin air and backed by nothing...just like fiat national CURRENCIES are. Gold and silver are MONEY. Learn the difference. (hint)...you can't just PRINT more gold or type it in on keyboard using FREE blockchain technology. Please invest HEAVILY in Bitcoin and Etherium...for my sake.
More silver and gold for me.
i think you might have a misunderstanding of how money works. That's like saying gold is backed by nothing. The reason gold is valuable is because historically it's been the hardest money known to man. All other forms of money were eventually debased to the point of destroying their value. The reason eventually gold became the most valuable and stable money is because of how hard it is to acquire compared to all those other forms of money, making it scarcer, and winning in the supply/demand side vs those other forms of money. Bitcoin is officially the hardest money ever conceived. Harder than gold. the reason nations backed their money with gold historically was because it assured it's users that they couldn't just print it to zero value. With Bitcoin, it doesn't matter how much the demand increases, you can't make more of it, so for that reason, it does not have to be backed (or you could say that it's already backed by the protocol on the network).
Keiser has sold out! Josh you are right standing against ETFs! Cryptos already ARE electronically traded! If the mainstream involvement was legit then they wouldn't have made their trading the only "commodity' that physical delivery COULDN'T happen! That is ironic since it is the EASIEST commodity to deliver errr electronically!
bitcoin COULD BE a safe haven. COULD BE.
Price prediction $100,000.00 per bitcoin. PREDICTION.
That Max Kaiser guy want to buy some tulips for $100,000.00?
Everything that is coming is coming?
DASH in Venezuela? Isn't there an electric problemo in Van jesue La?
Mostly your videos make sense till you guys talk about crypto currency and/or bitcoin. Then I just shut it down but today I listened to the whole video. I must say thumbs down.
Seems your brain got hijacked by bitcoin.
So I must ask, whose bitcoin mouse trap caused your brain to fail, do you remember how and when?
you cant spend bitcoin and last year the fees were ridiculous and the transaction times terrible, and buying bitcoin is a rip off, still is........and this was without any adoption.......ETN is way ahead of bitcoin in adoption terms
More options to go to a deflationary asset during troubled times. Liquidity probably always is an evolving paradigm. Consider the scenario - If person A wants bread from B and B finds that currency X is circulated a lot and is trusted, then B will be quite willing to exchange the bread for X. And this only improves with time. BTC makes way for more efficient altcoins down the line.
What are any of this coins good for when you can't do shit with them! I think vomiting the word Venezuela as a case scenario for the success of cryptocurrencies is quite superficial, they might be good to escape from the Bolivar into another currency if you are planning to leave the country permanently but if you are staying in, any currency is useless. The situation over there is so critical that only food and fresh water are the most essential goods!
Okay ..you lost me at trump supporters...free market and what trump is trying to do does not take away or hurt free market ...the problem is ..the world is not a even playing field ..US companies are moving out of America to countries with less taxes and cheaper labor ..essentially taking potential jobs from American citizens now it’s gotten out of control to where America is getting screwed while countries like China are benefiting from American innovation but not America ..we have millions with no job and factory workers are high paying jobs ...it’s like me saying ..your for Americans prospering but don’t care that American factories are moving to other countries by the 100,000s ...trump is doing what I knew what would happen when I was 13 and saw everything in Walmart is being produced in China ..every time we buy something from China it only benefits Walmart and China ..while America is left out ..if we don’t do something now the Chinese communistic country will be the new super power of the world so unless you want to be in a communist world of freedom ..you should be cheering for trump to win this trade war cause if he does it will greatly benifit America and if he doesn’t we will get hurt but if we do nothing we will get hurt anyway ..it’s war dummy let your nutts hang and shoot for the moon
When the thieves walk with their piles of other peoples' money, there are ZERO legal ramifications to get it back. Hello!? If you are VOLUNTARILY GIVING AWAY your $$$$ to a digital-coin like this, it's YOUR CHOICE! It's gone!
Josh, i don't get it. You call out on the government-issued fiat curruncies but then you endorse corporate issued software program as something of a real value. This doesn't add up. When a bright person like you make such inconsistent claims at the same time, that either means you are not smart or you are lying.
Cypto shall not replace paper currency or any physical 'money" especially for the protection of individual's privacy and property right. If you can only store your wealth through a system established by another person, that means that you will actually never get the real ownership. As you always say, money in the bank doesn't belong to you. It's just electronic number. But at least you can withdraw these moneies and put it under your mattress. Crypto currency on the other hand, you can't do that. The system will always know how much you own, where your wealth is stored, when you made a transaction on what.
You know this. You know this.
I really like you josh. Please drop being a puppet for the establishment's new wild wild west slaughter of indigenous ppl.
@shawn barnes, I totally agree, not many have researched XRP, the they been pre-programmed to come out with "centralized banker shit coin", If they had researched it, they would see that XRP will be the worlds global bridge currency, plus swift integration will blow BTC from the number one slot, XRP is way less centralized than BTC, China currently has 76% of the hash, no western goverment will adopt this. Ripple currency has 13% of the nodes and 45% of the validators on the network, so in fact "IS" decentralized. So many BTC maximalists are going to butt hurt when XRP goes full bull in Dec/Nov.
You're so full of it Max. Who in their right mind would want to use btc..with its clunky/slow network and inability to scale. Top it off with the fact any decent sized change requires a hard fork...There is an option that currently exists which ticks all the boxes......ripple XRP....the fastest, most secure and truly scale-able DA and only one that's solving real world problems in the present!
+shawn barnes You seem to be very sour. Step back, relax and enjoy the fall weather. Only time will tell and the shit coins will go down in history as the biggest scams ever. Cardano will prevail and will overtake Ethereum so mark my words.
Bitcoin is nothing more than a bunch nerds manipulating and scamming people out of their money. It's just as stupid as fiat currency which most of it is digital anyway. Except now you're susceptible to all kinds hacks, manipulating, and theft. How is this different from the fiat Ponzi scheme?
+Mark Ford I never have and never will. When that bag of hot air called crypto currency that you're holding evaporates into nothing then we'll see who gets the last laugh. No government on Earth is going to give up control of their money to a bunch hackers and thieves. I can't believe how stupid people are, btw where are all those dummies that bought bitscam at $19000?
+Guilty Hobbit I get it, it's latest get rich quick scheme and won't be the last. Nobody is using Bitcoin for it's intended purpose. It's being used by speculators and hackers to drain money from suckers like you. Tell me I'm wrong.
The NEW crypto is a Gold backed coin so this will be a winner for GOLD.... remember only a few Americans are buying crypto but the entire world is buying Precious Gold. Including all Governments ! Go Gold !
nice video, investing in Bitcoin has always been a frustration to me, I lost half my portfolio to the crash, trading couldn’t help me because I had little experience , all I needed was somebody to put me through.On several occasions, Bitcoin Ben and some majority of the videos uploaded on Altcoin Buzz channel made references about the great Mr. CEDRIC DAHL, so i contacted him and he promised to help me not only to recover my lost money but to earn for the rest of my life, I have earned 9BTC in less than a month from his tradings. He is competent , honest, consistent and very experienced, contact him at cryptocedricdahl @gmail .com or via telegram *@cryptocedric1, or WhatsApp +1 904 419-3234.?
I'll be as honest as I can with you but also after my opinion give you links to see for yourself.
Technically yes you can buy stuff with bitcoin but at this point in time I wouldn't advise it, there are debit cards you can load up with bitcoin to make it seem like transacting with fiat money however bitcoin right now is volatile so today you might have 100 dollars on that debit card next week you could have 80 or 120. Right it's best use is as a long term store of value. What's so great about it compared to precious metals is that like precious metals it's finite in nature there will only ever be 21M bitcoins. currently the rate at which bitcoins are released (note not created) is actually higher than the rate gold is newly added to the market through gold mining, this changes in may 2020 at the next halvening where as opposed to right now every 10 minutes 12.5 bitcoins are released to the miner, then only 6.25 bitcoins will be released every 10 minutes making it a harder money than gold. The other great thing about bitcoin is unlike gold you don't have to centralize it. You have to store your gold in a bank because A) it is physically heavy cumbersome and takes up space and is hard to denominate for smaller purchases, and you want it protected from would be thieves. B) while bitcoin is slow in transactions 60 minutes for total verification it is much quicker than physically moving your gold from say yourself to wherever amazon's accounting department is. As I previously mentioned this is why gold has to be centralized, and because of that is HOW the US Dollar at least was able to be removed from the gold standard, in 1970 one ounce of gold was worth $35 meaning you could cash in $35 dollars and receive your one ounce of gold, in 1971 nixon removed us from the gold standard which allowed the federal reserve to increase the money supply at its whim. gold is currently valued at $1219 per ounce, that is how much value you've lost in the past 47 years holding your wealth in fiat money means you've lost 97% of your wealth compared to holding it in gold. Governments can not do this to bitcoin because it is trivial for people to secure their bitcoin for themselves they do not need central banks to store their bitcoin. Some will, but large holders will not because it costs the same to store protect and transact .00001 btc as it does to store 100btc.
what makes this very interesting and lucrative for you and I is we do not have a bitcoin standard yet, it's still in the early adopter phase, meaning we have the potential to turn whatever you buy now in bitcoin into 1000+x with a bitcoin standard. buy $1000 worth of bitcoin right now and in a decade or so it might be worth the purchasing power of today $1 million. The best economic presentation on this is very likely Saifedean Ammous': The Bitcoin Standard on the Bitcoin Austria youtube channel (skip 4 minutes to get to english) but that might be a little more advanced for you in terms of terminology. I would suggest first a more introductory presentation to get familiar with it. Youtube "Bitcoin vs. Political Power: The Cryptocurrency Revolution - Stefan Molyneux at TNW Conference"
+Bitcoin Memes Today bitcoin doesnt have intrinsic value it would have no value to aliens. Even if they had too much gold, they eould buy it if they needed it for their ship or whatevrer. They would never need bitcoin for anything.
That’s correct... the only difference is suppose to be decentralised, but when they allow ETF or similar it becomes centralised once again.
The real value in bitcoin is not bitcoin but the block chain, and the things your able to do with block chain to keep records ... and bare that in mind when a Government is running one .. they can see every thing you do - no tax avoidance, no black market .
So really it’s the best way to get fucked in the arse by government !
Bitcoin is not? lol what has the price done ever since they created a BTC ETF?? LOL. The banks are all making crypto exchanges. It's just ponzi scheme 2.0. Gold&silver are the only truly decentralized anonymous money.
+Fab A I think we will just have to agree to disagree. There's no point in saying educate yourself when you don't know me. My brother mined Etherium for years, so I do know a lot about crypto. I used to be a fan of it. But hey, I wish you good luck with it.
Bitcoin is one more fraudulent and manipulated trade. EVERYTHING offered to the public is laced in fraud. Jump in and enjoy the deception, the smoke & mirrors and ponzi potential. I lost enough $$ prior to steer clear of anything financially offered to me. From financial planners who are salesmen to CEO's and insiders reaping the benefits, We the public are always left being scammed.
@ 6:12 .... "HYPOCRISY"? How so?.... Trump didn't START this trade war.... Canada and China had tariffs in place for us LONG before Trump came a long.... Now that we're fighting BACK, it seems to be a problem.
Fighting back isn't wrong; being stupid is. I think caging animals is wrong, especially the kinds that are in serious trouble like endangered species. However, going to the local zoo and opening up their cages to let them out is not what I'd call a good idea. The problem is that our chief idiot never thought it through, refuses to listen to his advisors, and never takes responsibility for his mistakes, which this is.
~Josh - Tax is part and parcel of life under a debt based monetary system and telling people what to buy doesn't mean they have to buy it. What Trump is doing is spot on for now. Also, when have we ever had a true free market? It's a pipe dream.
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