Wow! Profound insights concerning scarcity as an aspect of the modern human psyche. Don't recall Freud ever having done any exploration in this area. Well done Preston for bringing Croesus down through the rabbit hole and into our auditorium to discuss the infinite facets of the bitcoin diamond.
This is by far one of the BEST podcast I've ever listen too!!! I've been listening to this podcast for a few years. I like the crypto content Preston provides... Especially this episode! Totally AWESOME!!! 🍻👊🏽😎
The discovery of digital scarcity that is a perfected medium to store value is so compelling that it will overshadow every other narrative. Even in the crypto space, people are vastly underestimating Bitcoin and overestimating the prospects of other projects.
33:00 How many times can bitcoin be cut in half again and again?? I get it that once it is cut in half the value stays the same but now you got have an increasing SCARCITY once again, but if they can do this as many times as they want, how is that different from fiat money printing??
The rate of production of BTC is being halved once every four years. Currently, 900 a day are being mined. At the next halving, it will drop to 450 and that continues into about the year 2140. The value INCREASES as the years go on because the demand is doubling every year and scarcity continues to go up. This is very different than fiat printing because the halving schedule is written into the protocol of the software. It can't be changed because there needs to be a consensus to change the protocol and the odds of getting a consensus of Bitcoiners to agree on something that will guarantee the devaluation of their coins is about as close to impossible as it is for politicians to stop devaluing fiat currency, it's never happened and never will. BTW, don't trust the other answer offered to you here, it's obviously a scammer, not Preston Pysh.
@@jerrymac1795 ""it will drop to 450 and that continues into about the year 2140. The value INCREASES as the years go on because the demand is doubling every year and scarcity continues to go up."" Thanks man, that clears it up some.... just to be sure I got it, Are you saying the scarcity continues even MORE with every halving BECAUSE of the 21M bitcoins that cannot be changed or increased?? From another one of these experts I heard that "everything about bitcoin that gives it value derives directly from the fact that there is and there will ever be only 21M bitcoins". --- so is this the reason of the more people get into and the more bitcoins being mined and halved the more scarcity there is.??
All of this thesis assumes continual increase in demand and consistent new buyers on the demand side. Will be interesting to see if that holds true - obviously the incentive is financial but I can't help but see that same greed /reflexicve force works in the opposite direction too (to the downside). Amazing time in financial history.
Amazing! Thanks for the great content!!!!! Only 10 million investors over $5000. WOW!!! Keep staking some SATs people!!! Low time preference BTC Life forever
Ten trillion dollars of value went into gold and Bitcoin is arguably much better than gold in this digital age. So maybe 100 trillion dollars will find its' way into Bitcoin.
@@skipondowntheroad5833 yeah 10 trillion has gone into gold after thousands of years of it being considered real money/ store wealth. Bitcoin is still a speculation trying to find price discovery. 20 trillion market cap for bitcoin seems possible, but 100+ is just far fetched imo.
I think he said half the value of current stores of value, not all of it. Also that excludes the value of M3 currency, which bitcoin could capture some of, thus raising the value an additional amount. Sounds incredible, maybe it is, we will see.
Great content- Thank you - I ask you to do a Interview with Prof Richard Werner . He is an expert on Central Banks . You are the best man asking him questions on Btc . Please try out. Best regards..
But if it is a made up scarcity, how can it be good, when Michel Saylor, this guy, and others say that technologies of today and the future are deflationary in nature??
@@conorkeyes3930 Even I know that's wrong... Deflationary assets cannot INCREASE in value!! And yes fiat is an INFLATIONARY commodity, if they print two percent a year, well, that is depreciating the asset. Things become deflationary precisely because they cease to be scarce, because machines or new techniques make it so much more of it is produced. Thus if it is easier or faster tp produced it creates a deflationary event.
Wow! Profound insights concerning scarcity as an aspect of the modern human psyche.
Don't recall Freud ever having done any exploration in this area.
Well done Preston for bringing Croesus down through the rabbit hole and into our auditorium to discuss the infinite facets of the bitcoin diamond.
right up there with the saylor economic masterclass. beautiful.
Wow, the above is my all-time favourite!
This is by far one of the BEST podcast I've ever listen too!!! I've been listening to this podcast for a few years. I like the crypto content Preston provides... Especially this episode! Totally AWESOME!!! 🍻👊🏽😎
Incredible interview. I did not want it to end
Amazing interview, Croesus is Saylor-level brilliant!
Mind-blowing. Croesus is awesome 😎
This was a great interview! Excellent guest :)
Awesome interview
The discovery of digital scarcity that is a perfected medium to store value is so compelling that it will overshadow every other narrative. Even in the crypto space, people are vastly underestimating Bitcoin and overestimating the prospects of other projects.
Incredible, thank you both! ✌️
Really enjoyed the interview
Croesus for President!
This discussion was so exciting; I hope I can sleep tonight. I need more Bitcoin.
Great episode. Thank you both, gentlemen.
Where is this so called link to the article in the show notes
Awesome interview - learnt a lot
link to the article?
33:00
How many times can bitcoin be cut in half again and again?? I get it that once it is cut in half the value stays the same but now you got have an increasing SCARCITY once again, but if they can do this as many times as they want, how is that different from fiat money printing??
The rate of production of BTC is being halved once every four years. Currently, 900 a day are being mined. At the next halving, it will drop to 450 and that continues into about the year 2140. The value INCREASES as the years go on because the demand is doubling every year and scarcity continues to go up.
This is very different than fiat printing because the halving schedule is written into the protocol of the software. It can't be changed because there needs to be a consensus to change the protocol and the odds of getting a consensus of Bitcoiners to agree on something that will guarantee the devaluation of their coins is about as close to impossible as it is for politicians to stop devaluing fiat currency, it's never happened and never will.
BTW, don't trust the other answer offered to you here, it's obviously a scammer, not Preston Pysh.
@@jerrymac1795
""it will drop to 450 and that continues into about the year 2140. The value INCREASES as the years go on because the demand is doubling every year and scarcity continues to go up.""
Thanks man, that clears it up some.... just to be sure I got it, Are you saying the scarcity continues even MORE with every halving BECAUSE of the 21M bitcoins that cannot be changed or increased?? From another one of these experts I heard that "everything about bitcoin that gives it value derives directly from the fact that there is and there will ever be only 21M bitcoins". --- so is this the reason of the more people get into and the more bitcoins being mined and halved the more scarcity there is.??
@@ggrthemostgodless8713 100%
Bitcoin is the only true investment in the crypto space.
Great one
The bell curve is not representative of adoption...but directionally, you are correct. Maybe I am nitpicking.
Had to Google Dalio's CFO move to NYDIG. Can confirm 🙃
Fascinating
Croesus indeed THANKS MAN !!1
Very good...
Fire 🔥
All of this thesis assumes continual increase in demand and consistent new buyers on the demand side. Will be interesting to see if that holds true - obviously the incentive is financial but I can't help but see that same greed /reflexicve force works in the opposite direction too (to the downside). Amazing time in financial history.
Interesting. If love to hear what your progression theory is of it going to the downside?
You can't price in the next halving because miners can wash the price by selling their supply and we can't do an A/B scenario with them.
Amazing! Thanks for the great content!!!!! Only 10 million investors over $5000. WOW!!! Keep staking some SATs people!!! Low time preference BTC Life forever
Awesome
Was making the same math, before the big pump.
Croesus is smart. I don't get why he props up people like Will Clemente
MAXI PAD
👍
its a fucking real number 10 mm each LFG!!!!! it makes it right ... SAYLOR KING FUCKING PIN
Telcoin $$$$^^^^
Makes no sense for the value of everything to go into bitcoin and make it 10m... but okay
Ten trillion dollars of value went into gold and Bitcoin is arguably much better than gold in this digital age. So maybe 100 trillion dollars will find its' way into Bitcoin.
@@skipondowntheroad5833 yeah 10 trillion has gone into gold after thousands of years of it being considered real money/ store wealth. Bitcoin is still a speculation trying to find price discovery. 20 trillion market cap for bitcoin seems possible, but 100+ is just far fetched imo.
I think he said half the value of current stores of value, not all of it. Also that excludes the value of M3 currency, which bitcoin could capture some of, thus raising the value an additional amount. Sounds incredible, maybe it is, we will see.
450 bitcoin a day ........haha now this will shock n awe..... and it will be priced in sooner
Great content- Thank you - I ask you to do a Interview with Prof Richard Werner . He is an expert on Central Banks . You are the best man asking him questions on Btc . Please try out.
Best regards..
But if it is a made up scarcity, how can it be good, when Michel Saylor, this guy, and others say that technologies of today and the future are deflationary in nature??
Deflationary assets are scarce and so increase in value over time. Fiat currency is the opposite.
@@conorkeyes3930
Even I know that's wrong... Deflationary assets cannot INCREASE in value!!
And yes fiat is an INFLATIONARY commodity, if they print two percent a year, well, that is depreciating the asset.
Things become deflationary precisely because they cease to be scarce, because machines or new techniques make it so much more of it is produced. Thus if it is easier or faster tp produced it creates a deflationary event.
Basing value on scarcity is infantile. Your excrement is unique, one of a kind... not valuable.