Your analyses are awesome, but you're based in a tax haven. I just found out, and am gutted! Everyone should listen to Macro Voices instead, or check out Lyn Alden and others , people who actually have skin in the game
Either the Fed prints $100 trillion to back all of the assets, causing currency devaluation of >90%, or the assets are devalued by >90% in currency terms.
I enjoyed it too - and love Raoul's [etc] analyses. But they're based in a tax haven. AVOID!!! Listen to Macro Voices instead, or check out Lyn Alden and others
@@malthus101 just that they haven't got any skin in the game, unlike all the other macro voices. I'd rather listen to somebody who's invested in the world they're also living in!! Way more authentic and genuine takes from people living authentically
@@DMBtomp RVTV has guests from all walks of life and all locations. As far as I know, only Raoul actually lives in the Cayman Islands. But I wouldn't be surprised if most of the guests have offshore companies and accounts. That's what all rich people with brains do.... 🤷
I enjoyed it too - and love Raoul's [etc] analyses. But they're based in a tax haven. AVOID!!! Listen to Macro Voices instead, or check out Lyn Alden and others
Empty promises enforced by the military. Millennial are going to take over soon as boomers retire. Millennial understand digital better, Gold is ok, but not easily moved, traded, exchanged, etc.
Pretty superficial analysis of crypto. Agree on what he says on gold, even tough he is (purposely) missing some fundamental drawbacks that gold has in this world economy, such as: is it gold easilly transferrable across large distances and/or countries?
Bitcoin is superior in that aspect, also divisibility. Bitcoin doesn’t have golds public confidence and trust, or track record as a stable store of value. I would argue it is not as scarce as gold in terms of 1,500 competing DLTs out there and more created in the future that will compete for market share, diluting crypto buying power.
if theres a meltdown capital controls will probably ramp up, so youll only be able to buy in your own country or nearby countries, cryptos have their uses, but im skeptical they would stand up to serious scrutiny in a meltdown. however i think one thing about gold which is its actual usefulness, .silver is much more important as an industrial metal and an argument can be made its a safer bet. also adjusted for inflation silver is near its average price, (16.50) and close to production price (15.50) unless commodities like gas tank, it will hover there, gold on the other hand is a bit high for its 100 year inflation adjusted average of roughly 850, but..its alot easier to store. many things to consider.
Some of the questions he asks about cryptocurrency are very dated. Questions concerning scalability, tech updates, and security to be specific. These have been solved. His point about transactions and reporting to the IRS are spot on though, but that is a regulatory issue, not an inherent problem with crypto.
Gold and bitcoin are both property according to IRS. Both subject o cap gains. I'm sure some day exceptions will be made for small amounts (sub $600 value, like foreign currencies) til then, the govt is incentivizing HODLing.
As soon as I heard his questions on bitcoin and crypto currency - I had to look at the comments for the die hard crypto guys - as I knew they would defend their ideas without looking at it from his point of view - nutty - all of them. As open minded as they think they are - they are just as closed minded as an older person such as this guy. It's pretty funny and predictable.
Agreed 100%. Yet I still game the Crypto game...and it's done me well. Let the Retail Motleys do their part...money flows...leaves some go towards another...thus I love their die hard XRP bs, their 1970s BTC tech posing as new age tech...magic to ignorant. All that said, PNC Bank currently uses form of Crypto currency form inter-members transfers...that takes less 3 seconds... Dont mistake Retails ignorance for the facts that precedes the disruption of paper currency by cryptocurrency...it is here. It's just not transpiring the way the Retail Crypto Doehard would like to imagine.
Let me ask you a question: do you want to have an asset which possession the government from one day to another can declare illegal? Confiscate? All this has happened to gold.
@@alefer0130 they can outlaw it, but on the internet no one knows you have crypto. So I would say it's easier to hide than gold, if we compare a similar situation. Both situations are bad obviously, when gold is forbidden, it does not really rise in value as there is limited demand. Same for crypto.
If gold owership becomes illegal, then gold will have returned to reserve status. It would be far more valuable than it is today, that's a winner for me. Pay cash then stash!
I’ve thought a little about everything said and I see some inaccuracies: 1)when you use a lightning your txs are not recorded on the public ledger. 2)you can improve privacy by using mixers. 3)bitcoin network is not static, it's code improves and so no need to invent a better bitcoin. For example, ethereum is not a better bitcoin, ethereum is something you can't implement on bitcoin and because of this it is a different niche, not a competitor. You can't compete with bitcoin actually, same way you can't compete with timestamp, you can improve the standard, but you can't become a better bitcoin while current bitcoin is not failed. Anyway, gold is not digital, so I think you can't really compare gold with bitcoin, you can compare some functions and you can ask similar questions about gold. How much do you want to invest in something that is so seizable as gold? But, nobody can take from you knowledge and experience, so invest as much as you can in yourself and your community is the best way to survive a crisis.
This is like listening to Peter Schiff trying to sell you gold and having a slightly better understanding of bitcoin. He misses the fact that gold from Venezuela was just denied by the Bank of Englad at the request of the US. So flawed and pathetic to think bitcoin might be outdated in comparison to a 1982 computer!
Had those countries been on the Bitcoin Standard, the USA wouldn’t be holding other countries gold, Brinks could do a better job, cheaper, and insured. Those using Brinks have never suffered a loss. A private storage, and transport of values, based solely on that premise. Secondly, countries could actually know if anyone, or their government has touched the countries treasure. It’s reported that not only is the USA 23 trillion in debt, but missing another 20 trillion. Individuals cannot use FOIA is to check. The USA government has called this information, a matter of National security. When you look at the big picture, the reserve dollar is the interest of your security, right?
His understanding of bitcoin is irrelevant. The common sense is what matters. ANYONE can create a crypto and there is an infinite supply of electronic bits that can be turned crypto. You can’t argue that. As a result, the value of bitcoin is obsolete just by that metric. And yes, it’s crypto 1.0. You still driving the model T around as the first motor vehicle? Because that’s bitcoin for crypto. Idiots can’t use common logic to extrapolate thought
@@jsallerson - Easier said than done. Anybody can create their own cryptocurrency. But, could they establish the size of the network as Bitcoin? That's not something done over night. Bitcoin is the first genesis blockchain. It will always be around as long as cryptos are around. It is pretty much the gold of cryptos.
Simon did a superb job explaining gold and bitcoin. Details and putting together a cogent historical narrative was enlightening and entertaining. Great work Simon !
Amazing how Simon manages to elucidate the hidden secrets of money without Mike Maloneys video series.. this video makes a great summary introduction to the issues around fiat vs gold.
Excellent interview. The problem of owning crypto or GLD, they both can be confiscated and tracked . Physical gold coins is the only safe bet, the problem is how and where do you store it safely
I honestly don’t see a problem owning it all. Why not diversify and own all of it? Hedge correctly not thinking you’re a “know-all-markets-guru” Gold silver evens etfs. Own it because the money is going to flow through it all... the only problem I can anticipate with either platform is going to be knowing when to sell.
Have you done your research on Crypto? It sounds like you haven't. CRYPTO is decentralised, it can not be confiscated. It can only be taken if someone knows your private keys
Bookz Tony I have done the research and I own a ton. I’m talking about being taxed. We are a long way off from people using it for everyday purchases, so when the money is deposited into your account you better believe the IRS is smacking their lips. Can’t buy groceries or pay bills with it just yet. So again... why not own it all? Gold fans and crypto fans are as polarized as trump and Obama fans.
Let me ask you a question: Are 20 to 40 year olds (the up and coming economic producers) going to have a tendency to digital money or gold, which is expensive to secure, transact in, doesn't scale well, and the government owns most of it? How do you buy bread or any small value object with gold? How do you trust the any central authority that says their digital gold is actually backed by real digital gold? Haven't we learned by history that 1) your gold will cannot be easily carried across a border. 2) any central authority backing a paper money/digital money by gold will always eventually lie to you about the backing of your digital/paper receipt. 3) do you think your gold purchases haven't been surveiled by the NSA? How much of economic activity is being done in person, physically, and how much is international/digital?
You just need a gold account and a debit card! Then boom, you bought your groceries with gold. You can already do that because it's a debit card like any other. Try doing it with any crypto, nope, at least not yet.
Also, tell me, can you give an example of anyone who lost their Bitcoin or other crypto via hacking or theft from an exchange ever got a single penny back? Noone I bet because their is NO due process in law. It's outside any process of law. That's why it remains a pure software hype gamble.
@@davebellamy4867 bitcoin on an exchange is like gold in a bullion bank or someone else's vault. If you dont hold it, it ain't yours. I hold my own keys.
@@davebellamy4867 meanwhile that gold is rehypothecated a hundred times, it's just a paper promise of gold, and it may be mostly tungsten. If you're not exchanging the asset itself, you're only trading promises and trusting others. Bitcoin is trustless. I can validate I have bitcoin with my own node. I can control the keys to the actual bitcoin. You can settle the bitcoin easily. You can verify bitcoins veracity easily. You can subdivide it into tiny fractions. You can easily transport it without others knowing. Can u do any of that with gold?
The sad part about people over 60 and there dislike for Bitcoin is that keep trying to compare it to some physical computing device. Bitcoin is software that has been updated over time. Just like if you look at Adobe Illustrator which came out in 1987 or all the various versions of Windows, Mac OS, etc. Bitcoin and other cryptos have the ability to update their software and protocols. So comparing Crypto to a Commodore computer from the 1980s is just isn't accurate.
and gold has actually already failed to serve for average joe, considering it is neither used for payment, nor transferable across nation boundaries........
This is not true. You can transfer it across boundaries and you can use it as a payment. Gold purpose is as a hedge against centralbank writing and fiat money losing value. Its a storage of wealth. And if you need to transact with someone, then you can, there are a lot of ways to do it
Andrew - I live in China, the law here is you can NOT take gold out of the country. The USA outlawed private ownership of gold for 50 years. I think crossing most borders or airlines would cause major issues with $100,000 of gold
Without disrespecting this gentlemen, Bitcoin and other crypto assets will be future generations store of value or as they call it Gold 2.0. A generation who will not think "this is hard to understand" because they will grow up with it. In the last two years anyone in this space can attest the speed at which development has already made it not only easier to dip your feet into this asset class but more importantly the infrastructure that will integrate it more closely with everyday life.
@@rev.jimjonesandthekool-aid4488 The institutions are getting involved. BTC will never survive. Also, you guys are missing out the point that he stated BTC was 1.0, and like other things tech related, the first iteration is almost always overtaken by something else. In this case, Federal Reserve crypto.
Suggesting that bitcoin can't be hacked/etc is foolish. You're basically suggesting that cryptography has reached its peak and will never improve beyond what it is now. Short of that belief, it's not a matter of "if" but "when" bitcoin will be undone by hackers.
The Trader Guy there are three things you can be sure of in life: death, taxes and governments self destroying themselves. If you think a federal coin will succeed in the long term against BTC well your just taking a short term view. BTC is already at version 1.04.
22:42 - "or imagine you're an intelligence agent who needs to transmit an urgent message to his government from a hostile territory and you have choices, you can mail a letter through regular post. Now, you do know that this is a time of trouble and that the government opens every envelope that goes for the mail… Essentially, what I'm asking is, is reliance on a network that is controlled by governments and is not controlled by you in any way or shape or form, is that a point of failure, or is that a point of strength? That's up for you to decide. Now, given what's going on, for example right now in China and Hong Kong, we know the power of the governments to control the internet, to block certain sites, to block certain traffic, to unpack certain data packets that go through the internet. Is that a source of independence, or is that a source of vulnerability?" -What a story so scrawled to fool the fool ... Why not set your example in the USA, with Snowden's complaint about the NSA or the sale of personal data by Google and Facebook? The USA always finds a scapegoat to hide its own evil.
This video was fantastic. His analysis is spot on, and the questions posed were extremely accurate. THANK YOU for making content like this, it is much appreciated.
CD, LoL gold is needed to produce graphene. Also despite the “potential” uses of graphene, it is no where near the capability of mass production for application. Cost to benefit ratio is horrid which is why people will be sticking with tried and true silver and gold which are purely intrinsic ready to go elements that have current meaningful use applications at the very moment. It’s like saying I have an engine that can run on some new fuel but its expensive and still in experimental stages and needs petroleum to produce it lol.
Scott Bradbury this is an interesting point. I also read some time ago about it. Do you have more info about it? Video or article? Was is not in general metals or specify gold? Would love to hear what gold experts says to this argument.
Dan Pridgen Graphene is not made with gold. Or are your trying to say the equipment that makes graphine has gold?? They are Looking at ways to stop using gold in semiconductors. For those reasons of scarcity and limited supply, but they have already developed superior materials it's just not yet at a stage of volume/commercial production -hence when I said a matter of time. Infact Copper bonding wire is graduallyreplacing gold wire in the manufacture of semiconductors. Gold has long been the favorite for the all-important bonding wire insemiconductor chips, but copper is fast replacing the precious metal asgold prices soar and semiconductormaking equipment improves
I have considered all of the questions posed and have decided that my diversified positions in both BTC and gold are right on target. One of the reasons for this conclusion is that there are just way too many flaws in the logic of the questions Simon poses. I don't have time to go through them all but here are a a handful: 1) If the government or a solar shower or anything else shuts down the internet, you (and the government) are going to have more serious concerns than how to trade BTC (or keep BTC from trading), 2) BTC has never been confiscated by the government; gold has, 3) If the government can shake you down for your keys, you can have more than one set of keys to offer; if they shake you down for your gold and its stored in another country, they can shake down the fiduciaries holding your gold too and to think they wont is being naive. 4) What happens to the price of gold if a giant meteor made of gold crashes to the Earth during that solar shower that knocks out the internet? 5) Comparing software (BTC) to hardware (Commodore 64) is comparing apples to oranges. The software written on the Commodore will still execute its commands even though new programming languages have been developed. In conclusion, there are going to be all sorts of people pushing back on crypto for various reasons- the most common being ignorance. The more sophisticated investors and regulators that push back against crypto nearly always have an agenda and can be broken down into two camps: a) those that have an interest in the current fiat system continuing or b) those that have some gold or gold-related services they want to sell you. Solution- I would like to present 3 questions to ask yourself when encountering someone that argues against crypto: 1) Does this person understand crypto? 2) Does this person have an interest in keeping the fiat system going (a banker, regulator, or other high net worth individual that wants to see the status quo continue)? 3) Does this person sell gold or gold-related products or services? If the answer to any of these questions is yes, you might want to consider their motivation before drawing any conclusions.
Саймон, прекрасный рассказ. Я за свою короткую жизнь видел падение валют уже 3 раза. Советский рубль, русский рубль, украинские карбованцы. А как все красиво начиналось и закончилось обманом и обнищанием людей. Саймон, необходимо нашим людям открыть глаза на понятном им языке. Наши люди все еще верят в доллары больше чем в золото. Процветания и всех благ!
That guy spent lot of time to look reasonable, while being extremely anti-bitcoin biased. The Founder of The Bullion Reserve..Why am I not surprised that every single question he highlighted were to highligh the supremacy of gold over bitcoin and zero questions were to highlight any strong side of BTC? Lol. He is literally a bagholder, trying to increase the usage of gold beyond current 3 billion people and he fails.
The irony is that he's telling us to avoid using a currency based on the internet while being broadcast by the internet. Also, did he say that he used to deal in credit default swaps..?!!
Yes, it helps his business and the banking cartels to keep people invested in gold, stock market, and dependent on the fraud investment scams. If people have e-money, like e-mails, people like him are in BIG trouble. And they will use force to preserve their way of life. Beware!
How is physical gold a scam, the man was not stearing anyone toward ETFs or derivatives at all. Nor was he trying to sell anything. All I heard was history and facts.
1. Gold if it comes back would be a huge change. Likely a big shock. 2. If crypto becomes currency it’ll be controlled by governments. Bitcoin and other digital currencies will not be worth a lot. 3. The current currencies will likely not survive if world wide debt does not get solved
Rahul Chahal It’s funny how uneducated you are. (polite way of calling you dumb) No government can control Bitcoin. It is the first assist in human history that is unconfiscateable.
733Rafael even if your IQ is much higher that doesn’t make bitcoin worth more than it is. I can’t use it to buy bread at any grocery store. So it’s worthless like your IQ
Very true. It was like my Grandmother trying to understand the internet in the early 90's. Much less trying to use it. When cryptocurrency become user-friendly, people will begin to understand better.
When the financial system resets there has to be a standard. If that standard is gold then what would be the value of bitcoin? Simon appears to be clairvoyant in his belief that the reset will happen in terms of Gold. Right now you could make the case that gold and bitcoin are priced in an inflationary manner compared to fiat. So in a reset how much is gold worth if it's only gold and bitcoin still standing? How much is bitcoin worth priced in gold?
Go deeper and the discussion is not clear. Gold is fractal. But crypto is more fractal than gold because its distribution properties that gold dose not have.
Very sound advice on gold as real money and a questionable crypto world which can never become a Store of Value. It is subject to change and can easily be hacked. Cryptos, Computer grids system can never replace GOLD.
Ask depositors of Cypress or Lebanon if they had a gun held to their head when they lost a good portion of their savings overnight or unable to access ATM's
^^^ this. Enjoyed the interview but this is like asking a farrier what he thinks of the latest Pirellis. Bit of a conflict of interest, and bit of a knowledge gap.
I would buy the $99 year Sub if it included a consensus investment section in say a Monthly, 1/4 ly, yearly, 5 year , Out look options, with the proviso that it had the right to change at any time.
Would you rather the government simply take your money from your bank account or actually try to break you (make you give up private keys) for your bitcoin?
Which is easier for government to take your gold or bitcoin from a bank where it's all centralized or from your home? This question can be answered by the gold confiscation. They took from the banks and didnt go door to door looking for civil war.
A friend of a friend :) was wondering what anyones' thoughts are on Gold ETF positions in a traditional IRA for asset diversification/preservation. Has possession of physical, of course, but has concerns about retirement funds that have built up over time. Most of the typical funds available, even conservative, are looking vulnerable at this point....
Thank you very much, I could listen to this man all day 👍🏼☺it is very simple to understand everything he says😉😁 should talk to him a few more times.👏👏👏👏👏👏🤝🤝
The guy can't get over how every transaction gets recorded on a ledger when buying a coffee. Bruh how do you buy coffee with gold? Take out a chisel? I wish he would go into how there's 4x owner for the same unit of physical gold per paper gold.
If something replaces bitcoin, we would see it coming a mile away and we can just transfer over smh. And the transfer would occur faster than any gold transaction in history. Gold hasn’t made any of your friends rich, bitcoin has. Choose accordingly.
matteo d not in the last 5 years and will make no more going forward. Gold has fake gold supply, slow settlement, new gold discovery, gov’t control, and gold supply is only limited by the time we spend to mine it. Bitcoin beats gold all around. Plus value is subjective and millennials don’t value gold. It will keep slipping. Bitcoin has way more upside. I’ve made more this weekend than gold holders have in months.
See, now you are missing a point, gold it not there to make you rich that is for speculative investments like crypto currency. It is as a store of value that gold works. The fact that you're getting rich off it proves the point. I invest in gold miners and stocks that is speculation too.
Gold and Bitcoin have different pros and cons. Which is easier to move, $1 million in gold or $1 million in Bitcoin from one country to another if both countries use Bitcoin? Bitcoin is nothing more than digital gold and should be treated that way. Buy your everyday items with fiat, store your wealth in Bitcoin like gold. Convert the Bitcoin into fiat when needed.
Bitcoin is a lot more than digital gold. Unless gold became programmable, capable of being transferred in minutes with no counterparties across the globe with single-digit USD fees, is literally unconfiscatable (using a brain wallet), etc. Saying BTC is like gold is like saying Teslas are like horseless carriages.
Excellent. I had my doubts on cryptocurrencies. No doubts now. Clear and to the point. Real money vs currencies, he has excellent examples, thought provoking.
@@postmodgent1499 That's right! The mining of gold just destroys whole landscapes, creates huge amounts of toxic waste (about 20 tons for every 0.333 ounce gold ring) that is mostly dumped into natural water bodies, rivers or oceans (check out lihir gold mine in papua new guinea), contaminates water with cadmium, arsenic or lead that are all highly toxic and carcinogenic, causes mercury pollution that affects global health and environment (approx. 2 grams of mercury per 1 gram of gold), destroys the amazon and snatches homes and land from poor people. During all that, approx.75% of all bitcoins are created via energy from renewable resources. Also consider this: "Independent researchers Max Krause and Thabet Tolaymat calculated that it takes about 17 megajoules of computer power to generate US$1 in Bitcoin, even when the energy used for peripheral activities, such as cooling computers, is not factored in. By comparison, it takes 5 megajoules to mine US$1 in gold and 7 megajoules to mine an equivalent value of platinum. Aluminium-mining energy requirements, at 122 megajoules, topped the researchers’ list." Its from Nov. 2018, Nature Article.
@@Albundy423 Sure, but once you've refined the gold, it stays refined forever. Bitcoin requires continuous inputs of energy just to remain in existence. Who pays for this, if not the user of the crypto?
The carbon footprint of the total amount of vehicles on the road for 3 days in America is equal to the output of bitcoin since its inception. Bitcoin is on track to mine using only renewable and carbon free sources of energy by 2030. Solar, Geo-thermal, Wind, Wave / Tide and Nuclear are just a few.
Wrong, Bitcoin is a distributed ledger technology. There are close to 1,500 clones just like it all vying to be THE cryptocurrency. Like most all technologies, newer and better versions will be created and Bitcoin will have to contend with that fact.
Progressive Investing just like there are hundreds of different metals. They don’t take the market share from Gold. It’s called the network affect. If I created 10 Facebook apps exactly the same and named then different, are they valued the same as Facebook ? Of course not.
You can still buy gold and silver sovereigns. Gold sovereigns have a nominal value of £100 stamp on them, yet their bullion value is over £1200 right now. This makes them very tax efficient as an investment (up 20% in the last 6 months), yet they're taxed on the nominal value of £100. Plus there is no VAT on the gold (unlike silver). Makes you wonder why people keep their savings in a bank (as cash), but it does show how little most people understand about investing (like an ISA that doesn't even keep up with inflation).
Simon is right that holding fiat is a leap of faith into the abyss but has cognitive bias regarding gold versus Bitcoin. While it's true that the Bitcoin network is dependent on internet which can be denied access to, the real question is what holds the value of your work to be spent at a later time. He himself answered this question. It's not fiat money but it's not gold either, in my opinion. I did have gold for a little bit and would probably add a lot more if my wealth would be significantly higher, but the problem with gold is that it's *only* a store of value - it is not possible to buy goods and services for it even if you wanted because governments have reigns over what is legal tender. So you could actually go to jail for buying tomatoes because you exchanging your gold coins for tomatoes would incur a taxable capital gains event for the seller. Just think about it.. If the Romans could dilute gold two thousand years ago, this would be a piece of cake in day to day transactions if everyone used gold with all the engineering power we have. Although Bitcoin has it's pitfalls for now, it still is the most dependable hedge against the lunacy of QE, MMT, etc. And if we lose internet in the western world, we have much bigger problems than losing our wealth. Yeah, think WW2.
I would argue at this point the entire world is dependant on the internet so I see no issues with Bitcoin being dependant on it. There is other ways to transact bitcoin that does not require the internet such as work on being able to do transactions via radio waves or from satellites! Point being if the internet goes away we are likely looking at a world-ending event anyway! The money will be the least of our worries! lol
@@Mohglee And they can confiscate all the gold and make it illegal to hold as they have in the past. What's your point? Outlawing bitcoin and stopping it are two different things! They would be about as successful as they have been at stopping file sharing which is not at all! Plus the people who actually hold all the power can hold the governments accountable just as Iceland did!!
Also being able to give someone physically comes with its own problems. A)you have to give it physically (hence you have to be at the same place) B)hard to deny you have it/hard to protect while Bitcoin is invisible (if done right).
Simon should talk about mass and not weight as there is roughly a 0.2% difference in the weight of any object when moved from the equator to the poles. Of course the mass remains constant. Mass and energy by the way are both manifestations of the same entity, so if money is mass its also energy which is quite neat!
starting with the myth of barter is like starting a high school speech with 'the dictionary definition of ___ is...." REALVISION WHY DO YOU DEBASE YOURSELF LIKE THIS
Unfortunately not. No cryptocurrency has established a 2.0 influence, including hash graphs, monero, proof of storage, etc. All remain subject to fiat regulation and strong dependency on secrets without providing sufficient resistance to quantum computing.
@@conduit242 Quantum computing uh? Almost everything we have now isn't quantum resistant so i doubt crypto would be the only thing we'll worry about if that happens buddy.
@@conduit242 Argueing that quantum computing now or in near future is a threat to any cryptography-based technology is like stating mike tyson could win the world swimming contest because he has more muscles than those swimmers do. You can stay completely anonymous as to what wallet address belongs to what person. It's like if I would buy gold from a stranger that doesnt know me and bury it in my backyard where noone sees me. How would you know I own gold then? Same with bitcoin. Regarding your points and also the argument in the video that bitcoin is like the commodore 64 I think there is one significant difference which is that if you see the personal computers of today just as an upgrade to the commodore 64 - which it sort of is, hardware and software-whise - than the original idea of a personal computer is still there, it is just a better version of the first PC. If you think about the duality of the bitcoin network as both, a technology that can be updated as well as a currency system that requires mainstream-adoption, I think it is absolutely rational to believe the following: it is more likely that the network with the most participants will see major updates than another, more advance network with less participants to take over. The problem is you cannot see it purely as a technology, otherwise I would agree. It is highly unlikely that another cryptocurrency that does fulfil the same core functions for society would take over. It is more likely that the already established network is updated which is way easier than upgrading a commodore 64 because as a network-participant you dont have to do anything. Its just the people that mine or run full nodes that need to upgrade so no, I absolutely do not think the bitcoin technology can outdate, at least not within the next couple of years. I dont see it. So lets see what the next couple of years bring. I mean, the lightning network seems to be a real thing, ethereum goes 2.0 PoS, who would have thought those thing would actually happen 5 years ago?
@@conduit242 *and others* actually BTC and ETH are the ONLY 2 decentralized blockchains that have already solved the 'what if' quantum computing hack question. It's as follows: due to the HARDCODED hash rate difficulty adjustment rates, at *best* a quantum computer that's 100% accurate (so this doesn't actually exist yet) could do 1 double spend on the network but would COST more in hash (calculation electricity) than it could steal back for that one time spend. 🤫 Gold can be stolen, BTC can only be TRICKED into giving away if you don't intend to. Can't store your gold keys in your head and walk through an airport security checkpoint with millions and no one knows but you 🤷♂️ Education is essential, just like when the internet started and people kept buying news papers and sending faxes.
Interesting insight towards the end in saying low or negative interest rates indicate saved capital is less valuable due to money creation making capital chasing projects.
Excellent Excellent Excellent VIDEO!!! best i have seen in a long long time !!!!! thank you this guy is a treasure trove of information and he really sends it home!!!!
Let me ask you another question, would you trust a bank or govt to store a box of yellow metal for you, or would you trust a global, decentralised ledger of who owns what, stored using the best encryption, on the biggest, most secure network in the world, which is itself on the internetwork - a network designed to survive nuclear war?
Great interview. Always something to learn from Simon. I really like the image showing the 6 coins of the realm over the last 2,000 year. Everyone should own a little bit of gold, not advice, just my opinion.
Do you drive a car or horse and buggy>Do cars evolve.If there was an emp,doesnt matter what wealth you have .Every person can make their argument.What about Tungsten???
There is no solution to human problems (financial, environmental, earth's limited resources, confrontational ethics etc). Long ago India and China settled for a simple life, that is where we are all headed, requiring a huge degree of organisation and an improved philosophy.
Here’s another point. What if in the future, asteroids are harvested and gold supply is doubled or quadrupled. Then gold responds to the markets and goes down on value like any other commodity.
Loved your presentation Simon.And for all that say Gold can be confiscated I say no never again.people are more awake,just look at all the uprisings ,demonstration in the world.Would anyone be so brave and steel there gold after they been loosing on " fiat paper "...
Wow, best explanation of sound money I've ever heard. My fear however is that those with the power to "print" money for free will (by hook or crook) keep this modern monetary system going on a lot longer than we ever thought possible. The book of Revelation talks about a time coming when "no man may buy or sell without the mark of the beast". This monetary system (or an even more powerful, all-digital version) is coming to a point where it can control everyone.
Id like to see someone interviewed who can explain how we will get out of our "current situation" relativity unharmed. I.e low rates, no inflation, large deficit and low growth.
The cpi has been a cost of living measure for all of s +. Rather than the cost of goods measure they used in the 70s. By that measure inflation is (estimated) 10%
Just ment as 30 plus years. The different metric is a price of goods analysis the items in the sample can't change where in a cost of living analysis you can switch between goods and factor in "increased value"
Give the gift of Real Vision to yourself or someone you know for only $99 (regularly $180) from now until the end of the year: rvtv.io/YTGIFT
Your analyses are awesome, but you're based in a tax haven. I just found out, and am gutted! Everyone should listen to Macro Voices instead, or check out Lyn Alden and others
, people who actually have skin in the game
Wish there was another hour with Simon expanding on that last section about asset devaluation....
Either the Fed prints $100 trillion to back all of the assets, causing currency devaluation of >90%, or the assets are devalued by >90% in currency terms.
I enjoyed it too - and love Raoul's [etc] analyses. But they're based in a tax haven. AVOID!!! Listen to Macro Voices instead, or check out Lyn Alden and others
@@DMBtomp what does the tax haven that Raoul lives in (they?) have to do with anything??
@@malthus101 just that they haven't got any skin in the game, unlike all the other macro voices. I'd rather listen to somebody who's invested in the world they're also living in!! Way more authentic and genuine takes from people living authentically
@@DMBtomp RVTV has guests from all walks of life and all locations. As far as I know, only Raoul actually lives in the Cayman Islands. But I wouldn't be surprised if most of the guests have offshore companies and accounts. That's what all rich people with brains do.... 🤷
This is one of my favorite conversations I've seen on this channel, a lot of clarity here 👍🏼
CIA funded (most likely), most of the views are just that views. Speculation. Stories...propaganda, for the mass es
I enjoyed it too - and love Raoul's [etc] analyses. But they're based in a tax haven. AVOID!!! Listen to Macro Voices instead, or check out Lyn Alden and others
What is in Central Banks vaults? Gold or Bitcoin? Enough said.
Empty promises enforced by the military. Millennial are going to take over soon as boomers retire. Millennial understand digital better, Gold is ok, but not easily moved, traded, exchanged, etc.
@aengrod well said.
Have you seen the gold inside?
Does the president go in the vault to show its people the gold is safe?
2020 legislation allows EU banks to store BTC.
Enough said.
@733Rafael you have been manipulated to think that nonsense
One of the most important interviews to appear on RV. If you don't 'get it' after this interview you never will.
Pretty superficial analysis of crypto. Agree on what he says on gold, even tough he is (purposely) missing some fundamental drawbacks that gold has in this world economy, such as: is it gold easilly transferrable across large distances and/or countries?
Bitcoin is superior in that aspect, also divisibility. Bitcoin doesn’t have golds public confidence and trust, or track record as a stable store of value. I would argue it is not as scarce as gold in terms of 1,500 competing DLTs out there and more created in the future that will compete for market share, diluting crypto buying power.
if theres a meltdown capital controls will probably ramp up, so youll only be able to buy in your own country or nearby countries, cryptos have their uses, but im skeptical they would stand up to serious scrutiny in a meltdown. however i think one thing about gold which is its actual usefulness, .silver is much more important as an industrial metal and an argument can be made its a safer bet. also adjusted for inflation silver is near its average price, (16.50) and close to production price (15.50) unless commodities like gas tank, it will hover there, gold on the other hand is a bit high for its 100 year inflation adjusted average of roughly 850, but..its alot easier to store. many things to consider.
Yes everyone knows what gold is
No electricity - no bitcoin...
@@Sw1ftenergy no electricity in this modern age means mass death. Money won't mean much
Simon Mikhailovich leaves more questions lingering but still a very insightful and helpful.
This is the most sober examination of $ that I have ever heard!!!
Some of the questions he asks about cryptocurrency are very dated. Questions concerning scalability, tech updates, and security to be specific. These have been solved. His point about transactions and reporting to the IRS are spot on though, but that is a regulatory issue, not an inherent problem with crypto.
Gold and bitcoin are both property according to IRS. Both subject o cap gains. I'm sure some day exceptions will be made for small amounts (sub $600 value, like foreign currencies) til then, the govt is incentivizing HODLing.
Show their ignorance and pretension
This interview is truly epic!
I love he use of analogy. Simply brilliant!
A ship sailing into a storm is the perfect analogy of the coming global financial crisis.
As soon as I heard his questions on bitcoin and crypto currency - I had to look at the comments for the die hard crypto guys - as I knew they would defend their ideas without looking at it from his point of view - nutty - all of them. As open minded as they think they are - they are just as closed minded as an older person such as this guy. It's pretty funny and predictable.
Agreed 100%. Yet I still game the Crypto game...and it's done me well. Let the Retail Motleys do their part...money flows...leaves some go towards another...thus I love their die hard XRP bs, their 1970s BTC tech posing as new age tech...magic to ignorant.
All that said, PNC Bank currently uses form of Crypto currency form inter-members transfers...that takes less 3 seconds...
Dont mistake Retails ignorance for the facts that precedes the disruption of paper currency by cryptocurrency...it is here. It's just not transpiring the way the Retail Crypto Doehard would like to imagine.
Let me ask you a question: do you want to have an asset which possession the government from one day to another can declare illegal? Confiscate? All this has happened to gold.
and they can't do that with cryptos?
@@alefer0130 they can outlaw it, but on the internet no one knows you have crypto. So I would say it's easier to hide than gold, if we compare a similar situation. Both situations are bad obviously, when gold is forbidden, it does not really rise in value as there is limited demand. Same for crypto.
They own everything through taxes 🤷🏻♂️ might as well hedge and diversify
If gold owership becomes illegal, then gold will have returned to reserve status. It would be far more valuable than it is today, that's a winner for me. Pay cash then stash!
Trust the Govt mate. U are doom
I’ve thought a little about everything said and I see some inaccuracies: 1)when you use a lightning your txs are not recorded on the public ledger. 2)you can improve privacy by using mixers. 3)bitcoin network is not static, it's code improves and so no need to invent a better bitcoin. For example, ethereum is not a better bitcoin, ethereum is something you can't implement on bitcoin and because of this it is a different niche, not a competitor. You can't compete with bitcoin actually, same way you can't compete with timestamp, you can improve the standard, but you can't become a better bitcoin while current bitcoin is not failed. Anyway, gold is not digital, so I think you can't really compare gold with bitcoin, you can compare some functions and you can ask similar questions about gold. How much do you want to invest in something that is so seizable as gold? But, nobody can take from you knowledge and experience, so invest as much as you can in yourself and your community is the best way to survive a crisis.
Hashgraph does what bitcoin does only faster and can scale.
This is like listening to Peter Schiff trying to sell you gold and having a slightly better understanding of bitcoin. He misses the fact that gold from Venezuela was just denied by the Bank of Englad at the request of the US. So flawed and pathetic to think bitcoin might be outdated in comparison to a 1982 computer!
That gold was denied because its KEPT in the US.
It wouldn’t be otherwise.
🤦🏽♂️
Had those countries been on the Bitcoin Standard, the USA wouldn’t be holding other countries gold, Brinks could do a better job, cheaper, and insured. Those using Brinks have never suffered a loss. A private storage, and transport of values, based solely on that premise.
Secondly, countries could actually know if anyone, or their government has touched the countries treasure. It’s reported that not only is the USA 23 trillion in debt, but missing another 20 trillion. Individuals cannot use FOIA is
to check. The USA government has called this information, a matter of National security. When you look at the big picture, the reserve dollar is the interest of your security, right?
@@curious5691 - BRINKS is still a single point of failure. Bitcoin is not.
His understanding of bitcoin is irrelevant. The common sense is what matters. ANYONE can create a crypto and there is an infinite supply of electronic bits that can be turned crypto. You can’t argue that. As a result, the value of bitcoin is obsolete just by that metric.
And yes, it’s crypto 1.0.
You still driving the model T around as the first motor vehicle? Because that’s bitcoin for crypto. Idiots can’t use common logic to extrapolate thought
@@jsallerson - Easier said than done. Anybody can create their own cryptocurrency. But, could they establish the size of the network as Bitcoin? That's not something done over night. Bitcoin is the first genesis blockchain. It will always be around as long as cryptos are around. It is pretty much the gold of cryptos.
Simon did a superb job explaining gold and bitcoin. Details and putting together a cogent historical narrative was enlightening and entertaining. Great work Simon !
Amazing how Simon manages to elucidate the hidden secrets of money without Mike Maloneys video series.. this video makes a great summary introduction to the issues around fiat vs gold.
Hopefully we will see more of these types of videos but with a gold vs. bitcoin perspective.
He failed to make a case against Bitcoin with his hypothetical questions and examples.
Matthew Kuraja Thats because there is no viable case against Bitcoin being able to become a world reserve assist.
he wasnt making case against . he owns some.
I love listening to Simon-he is a great guest and always informative
Excellent interview.
The problem of owning crypto or GLD, they both can be confiscated and tracked .
Physical gold coins is the only safe bet, the problem is how and where do you store it safely
Bury it or private vault.
Greg Rickard vault in what country lol?
I honestly don’t see a problem owning it all. Why not diversify and own all of it? Hedge correctly not thinking you’re a “know-all-markets-guru”
Gold silver evens etfs. Own it because the money is going to flow through it all... the only problem I can anticipate with either platform is going to be knowing when to sell.
Have you done your research on Crypto? It sounds like you haven't. CRYPTO is decentralised, it can not be confiscated. It can only be taken if someone knows your private keys
Bookz Tony I have done the research and I own a ton. I’m talking about being taxed. We are a long way off from people using it for everyday purchases, so when the money is deposited into your account you better believe the IRS is smacking their lips. Can’t buy groceries or pay bills with it just yet. So again... why not own it all? Gold fans and crypto fans are as polarized as trump and Obama fans.
To Real Vision Finance. That Was Truly An Orsem Video !!! Thank You.
I owned, used, and programmed a Commodore Vic-20. The C-64 was too expensive.
I've managed to make c128 from some broken one, before it was made by commodore...ZX Spectrum 4ever xd....
Let me ask you a question: Are 20 to 40 year olds (the up and coming economic producers) going to have a tendency to digital money or gold, which is expensive to secure, transact in, doesn't scale well, and the government owns most of it? How do you buy bread or any small value object with gold? How do you trust the any central authority that says their digital gold is actually backed by real digital gold? Haven't we learned by history that 1) your gold will cannot be easily carried across a border. 2) any central authority backing a paper money/digital money by gold will always eventually lie to you about the backing of your digital/paper receipt. 3) do you think your gold purchases haven't been surveiled by the NSA? How much of economic activity is being done in person, physically, and how much is international/digital?
You just need a gold account and a debit card! Then boom, you bought your groceries with gold. You can already do that because it's a debit card like any other. Try doing it with any crypto, nope, at least not yet.
Also, tell me, can you give an example of anyone who lost their Bitcoin or other crypto via hacking or theft from an exchange ever got a single penny back? Noone I bet because their is NO due process in law. It's outside any process of law. That's why it remains a pure software hype gamble.
@@davebellamy4867 bitcoin on an exchange is like gold in a bullion bank or someone else's vault. If you dont hold it, it ain't yours. I hold my own keys.
@@davebellamy4867 meanwhile that gold is rehypothecated a hundred times, it's just a paper promise of gold, and it may be mostly tungsten. If you're not exchanging the asset itself, you're only trading promises and trusting others. Bitcoin is trustless. I can validate I have bitcoin with my own node. I can control the keys to the actual bitcoin. You can settle the bitcoin easily. You can verify bitcoins veracity easily. You can subdivide it into tiny fractions. You can easily transport it without others knowing. Can u do any of that with gold?
Gold is for backing currency not spending. To stop gov spending what they don't have. Ring any bells.
One of The best interviews!!
Simon . . .you are an excellent teacher! Explained in ways Ive never heard before. THANK YOU!
The sad part about people over 60 and there dislike for Bitcoin is that keep trying to compare it to some physical computing device. Bitcoin is software that has been updated over time. Just like if you look at Adobe Illustrator which came out in 1987 or all the various versions of Windows, Mac OS, etc. Bitcoin and other cryptos have the ability to update their software and protocols. So comparing Crypto to a Commodore computer from the 1980s is just isn't accurate.
and gold has actually already failed to serve for average joe, considering it is neither used for payment, nor transferable across nation boundaries........
This is not true. You can transfer it across boundaries and you can use it as a payment. Gold purpose is as a hedge against centralbank writing and fiat money losing value. Its a storage of wealth. And if you need to transact with someone, then you can, there are a lot of ways to do it
Andrew - I live in China, the law here is you can NOT take gold out of the country.
The USA outlawed private ownership of gold for 50 years.
I think crossing most borders or airlines would cause major issues with $100,000 of gold
@@aaronvenema All you need to do is form it into jewelry, then there are no issues. That is just a five pound Mr. T style gold chain around your neck.
9:55 Money is based on nothing and Credit is backed by nothing.
This snippet makes Bitcoin acceptable and Gold even more valuable.
Young Grizzly government debt is backed by tax payers hahah
Awesome. by far the best explanation of devaluation of "money" and why Gold is best store of value.
Without disrespecting this gentlemen, Bitcoin and other crypto assets will be future generations store of value or as they call it Gold 2.0. A generation who will not think "this is hard to understand" because they will grow up with it. In the last two years anyone in this space can attest the speed at which development has already made it not only easier to dip your feet into this asset class but more importantly the infrastructure that will integrate it more closely with everyday life.
Facts
@@rev.jimjonesandthekool-aid4488 The institutions are getting involved. BTC will never survive. Also, you guys are missing out the point that he stated BTC was 1.0, and like other things tech related, the first iteration is almost always overtaken by something else. In this case, Federal Reserve crypto.
Suggesting that bitcoin can't be hacked/etc is foolish. You're basically suggesting that cryptography has reached its peak and will never improve beyond what it is now. Short of that belief, it's not a matter of "if" but "when" bitcoin will be undone by hackers.
And when the Carrington Event happens where will your bitcoins be then. Pfhht. Gone.
The Trader Guy there are three things you can be sure of in life: death, taxes and governments self destroying themselves. If you think a federal coin will succeed in the long term against BTC well your just taking a short term view. BTC is already at version 1.04.
22:42 - "or imagine you're an intelligence agent who needs to transmit an urgent message to his government from a hostile territory and you have choices, you can mail a letter through regular post. Now, you do know that this is a time of trouble and that the government opens every envelope that goes for the mail… Essentially, what I'm asking is, is reliance on a network that is controlled by governments and is not controlled by you in any way or shape or form, is that a point of failure, or is that a point of strength? That's up for you to decide. Now, given what's going on, for example right now in China and Hong Kong, we know the power of the governments to control the internet, to block certain sites, to block certain traffic, to unpack certain data packets that go through the internet. Is that a source of independence, or is that a source of vulnerability?" -What a story so scrawled to fool the fool ... Why not set your example in the USA, with Snowden's complaint about the NSA or the sale of personal data by Google and Facebook? The USA always finds a scapegoat to hide its own evil.
This video was fantastic. His analysis is spot on, and the questions posed were extremely accurate. THANK YOU for making content like this, it is much appreciated.
Gold and silver is needed to make the technology by which cryptocurrency needs to function. So gold and silver wins again!
It wont be long before private companies start mining gold from space (10 - 20 years max). The tech is already being built. What happens to gold then?
Not for long. Already superior materials for semiconductors such as Graphene. It's just a matter of time.
CD, LoL gold is needed to produce graphene. Also despite the “potential” uses of graphene, it is no where near the capability of mass production for application. Cost to benefit ratio is horrid which is why people will be sticking with tried and true silver and gold which are purely intrinsic ready to go elements that have current meaningful use applications at the very moment. It’s like saying I have an engine that can run on some new fuel but its expensive and still in experimental stages and needs petroleum to produce it lol.
Scott Bradbury this is an interesting point. I also read some time ago about it. Do you have more info about it? Video or article? Was is not in general metals or specify gold? Would love to hear what gold experts says to this argument.
Dan Pridgen Graphene is not made with gold. Or are your trying to say the equipment that makes graphine has gold?? They are Looking at ways to stop using gold in semiconductors. For those reasons of scarcity and limited supply, but they have already developed superior materials it's just not yet at a stage of volume/commercial production -hence when I said a matter of time. Infact Copper bonding wire is graduallyreplacing gold wire in the manufacture of semiconductors. Gold has long been the favorite for the all-important bonding wire insemiconductor chips, but copper is fast replacing the precious metal asgold prices soar and semiconductormaking equipment improves
That was valuable. thank you Real Vision and Mr. Mikhailovich.
I have considered all of the questions posed and have decided that my diversified positions in both BTC and gold are right on target. One of the reasons for this conclusion is that there are just way too many flaws in the logic of the questions Simon poses. I don't have time to go through them all but here are a a handful:
1) If the government or a solar shower or anything else shuts down the internet, you (and the government) are going to have more serious concerns than how to trade BTC (or keep BTC from trading), 2) BTC has never been confiscated by the government; gold has, 3) If the government can shake you down for your keys, you can have more than one set of keys to offer; if they shake you down for your gold and its stored in another country, they can shake down the fiduciaries holding your gold too and to think they wont is being naive. 4) What happens to the price of gold if a giant meteor made of gold crashes to the Earth during that solar shower that knocks out the internet? 5) Comparing software (BTC) to hardware (Commodore 64) is comparing apples to oranges. The software written on the Commodore will still execute its commands even though new programming languages have been developed.
In conclusion, there are going to be all sorts of people pushing back on crypto for various reasons- the most common being ignorance. The more sophisticated investors and regulators that push back against crypto nearly always have an agenda and can be broken down into two camps: a) those that have an interest in the current fiat system continuing or b) those that have some gold or gold-related services they want to sell you.
Solution- I would like to present 3 questions to ask yourself when encountering someone that argues against crypto: 1) Does this person understand crypto? 2) Does this person have an interest in keeping the fiat system going (a banker, regulator, or other high net worth individual that wants to see the status quo continue)? 3) Does this person sell gold or gold-related products or services? If the answer to any of these questions is yes, you might want to consider their motivation before drawing any conclusions.
Spot on! Very informative. Thank you sir.
Man, I love Real Vision videos, but the “oi” at the beginning is started to get REALLY annoying!
Саймон, прекрасный рассказ. Я за свою короткую жизнь видел падение валют уже 3 раза. Советский рубль, русский рубль, украинские карбованцы. А как все красиво начиналось и закончилось обманом и обнищанием людей. Саймон, необходимо нашим людям открыть глаза на понятном им языке. Наши люди все еще верят в доллары больше чем в золото. Процветания и всех благ!
gold is real
what about the meme economy?
Pump et
Wait, you didn't get your check from Trump for using meme magic to get him elected?
@@Alorand no he scammed me
MY MAN
That guy spent lot of time to look reasonable, while being extremely anti-bitcoin biased.
The Founder of The Bullion Reserve..Why am I not surprised that every single question he highlighted were to highligh the supremacy of gold over bitcoin and zero questions were to highlight any strong side of BTC? Lol.
He is literally a bagholder, trying to increase the usage of gold beyond current 3 billion people and he fails.
@@loski1955 yeah and you hold you bag of gold and rest easy!
You can Rest In Peace with your bitcoins...I don’t, wouldn’t, can’t.
@733Rafael Wake up bro from silly dream u was put in ok??😋😉
The irony is that he's telling us to avoid using a currency based on the internet while being broadcast by the internet.
Also, did he say that he used to deal in credit default swaps..?!!
Yes, it helps his business and the banking cartels to keep people invested in gold, stock market, and dependent on the fraud investment scams. If people have e-money, like e-mails, people like him are in BIG trouble. And they will use force to preserve their way of life. Beware!
How is physical gold a scam, the man was not stearing anyone toward ETFs or derivatives at all. Nor was he trying to sell anything. All I heard was history and facts.
@@lewisjeffreys9175 I didn't say gold was a scam.
Yes, he did say he used to deal in CDOs and credit default swaps.
Bullets and canned meat the best currency in any crisis 😉
Seeds
You also need proficiency in using the firearms. How much have you been practicing now?
Bullets, the only currency that’s required to protect itself
But bullets will protect your life and your wealth, to a point
For the short term, not the long term. Gold definitely in the long term.
1. Gold if it comes back would be a huge change. Likely a big shock.
2. If crypto becomes currency it’ll be controlled by governments. Bitcoin and other digital currencies will not be worth a lot.
3. The current currencies will likely not survive if world wide debt does not get solved
Rahul Chahal It’s funny how uneducated you are. (polite way of calling you dumb) No government can control Bitcoin. It is the first assist in human history that is unconfiscateable.
Gold is the one that has been controled by Governement and Banking cartel.
Easy Eagle until I can buy milk or bread with bitcoin it’s worthless
733Rafael even if your IQ is much higher that doesn’t make bitcoin worth more than it is. I can’t use it to buy bread at any grocery store. So it’s worthless like your IQ
mimi yun true, but in the end for anything to be a currency it’ll be controlled and tracked by the government
What a gem of a video
People past 60 years old don't really get the power of bitcoin. They make it more complex than it actually is.
Well, I'm over 60 and doing my best to convert my millennial daughter!
Very true. It was like my Grandmother trying to understand the internet in the early 90's. Much less trying to use it. When cryptocurrency become user-friendly, people will begin to understand better.
@@richardgray2893 Are you a Tech-Savvy guy?
@@brianschreech I wouldn't go as far as being Tech-Savvy, but definitely interested and dabbling in the crypto/blockchain world.
@@richardgray2893 respect to you! One of the few.
17:05 "The money is guaranteed by the Indian Government, until the Govt no longer DECIDES to guarantee it." aint that a b!
Congratulations - that was an absolut convicing presentation
wow.....some great comments...thanks
When the financial system resets there has to be a standard. If that standard is gold then what would be the value of bitcoin? Simon appears to be clairvoyant in his belief that the reset will happen in terms of Gold. Right now you could make the case that gold and bitcoin are priced in an inflationary manner compared to fiat. So in a reset how much is gold worth if it's only gold and bitcoin still standing? How much is bitcoin worth priced in gold?
Does anyone know the difference between Fiat Gold vs Physical Gold?
Are you invested in Fiat Gold or Physical Gold?
Fiat gold for me, mining shares. Physical silver.
Brilliant man. Very clear discussion.
Go deeper and the discussion is not clear. Gold is fractal. But crypto is more fractal than gold because its distribution properties that gold dose not have.
Very sound advice on gold as real money and a questionable crypto world which can never become a Store of Value. It is subject to change and can easily be hacked. Cryptos, Computer grids system can never replace GOLD.
This like i understand is to "go and immediately buy more Bitcoin...💸🌋
Ask depositors of Cypress or Lebanon if they had a gun held to their head when they lost a good portion of their savings overnight or unable to access ATM's
^^^ this. Enjoyed the interview but this is like asking a farrier what he thinks of the latest Pirellis. Bit of a conflict of interest, and bit of a knowledge gap.
I would buy the $99 year Sub if it included a consensus investment section in say a Monthly, 1/4 ly, yearly, 5 year , Out look options, with the proviso that it had the right to change at any time.
Would you rather the government simply take your money from your bank account or actually try to break you (make you give up private keys) for your bitcoin?
Oh but they wouldn't do that for your gold? Bahahaha!!! Which is easier to find/detect/confiscate at a border? Gold or bitcoin?
Which is easier for government to take your gold or bitcoin from a bank where it's all centralized or from your home? This question can be answered by the gold confiscation. They took from the banks and didnt go door to door looking for civil war.
A friend of a friend :) was wondering what anyones' thoughts are on Gold ETF positions in a traditional IRA for asset diversification/preservation. Has possession of physical, of course, but has concerns about retirement funds that have built up over time. Most of the typical funds available, even conservative, are looking vulnerable at this point....
Thought about gold mining stocks?
Thank you very much, I could listen to this man all day 👍🏼☺it is very simple to understand everything he says😉😁 should talk to him a few more times.👏👏👏👏👏👏🤝🤝
But its not THE TRUTH. Other economists have a different opinion on gold.
What an exceptionally well articulated guest. 5 stars thank you!
The guy can't get over how every transaction gets recorded on a ledger when buying a coffee. Bruh how do you buy coffee with gold? Take out a chisel?
I wish he would go into how there's 4x owner for the same unit of physical gold per paper gold.
If something replaces bitcoin, we would see it coming a mile away and we can just transfer over smh. And the transfer would occur faster than any gold transaction in history. Gold hasn’t made any of your friends rich, bitcoin has. Choose accordingly.
Your wrong do some more research..gold made millionaires
@@TeoOfficial_1 not even close, sorry
matteo d not in the last 5 years and will make no more going forward. Gold has fake gold supply, slow settlement, new gold discovery, gov’t control, and gold supply is only limited by the time we spend to mine it. Bitcoin beats gold all around. Plus value is subjective and millennials don’t value gold. It will keep slipping. Bitcoin has way more upside. I’ve made more this weekend than gold holders have in months.
See, now you are missing a point, gold it not there to make you rich that is for speculative investments like crypto currency. It is as a store of value that gold works. The fact that you're getting rich off it proves the point. I invest in gold miners and stocks that is speculation too.
Gold and Bitcoin have different pros and cons. Which is easier to move, $1 million in gold or $1 million in Bitcoin from one country to another if both countries use Bitcoin?
Bitcoin is nothing more than digital gold and should be treated that way. Buy your everyday items with fiat, store your wealth in Bitcoin like gold. Convert the Bitcoin into fiat when needed.
Bitcoin is a lot more than digital gold. Unless gold became programmable, capable of being transferred in minutes with no counterparties across the globe with single-digit USD fees, is literally unconfiscatable (using a brain wallet), etc. Saying BTC is like gold is like saying Teslas are like horseless carriages.
The "North Star" metaphor is perfect for the insanity we're creating.
@Hans Hummer That's why they have the guns...
They not only have the guns they're trying to own the food chain too with gm seed that produces seedless crops
Excellent. I had my doubts on cryptocurrencies. No doubts now. Clear and to the point. Real money vs currencies, he has excellent examples, thought provoking.
I like Crypto's and I think they will have their place but a gold coin does not require electricity, access to the internet etc.
@@postmodgent1499 That's right! The mining of gold just destroys whole landscapes, creates huge amounts of toxic waste (about 20 tons for every 0.333 ounce gold ring) that is mostly dumped into natural water bodies, rivers or oceans (check out lihir gold mine in papua new guinea), contaminates water with cadmium, arsenic or lead that are all highly toxic and carcinogenic, causes mercury pollution that affects global health and environment (approx. 2 grams of mercury per 1 gram of gold), destroys the amazon and snatches homes and land from poor people. During all that, approx.75% of all bitcoins are created via energy from renewable resources.
Also consider this: "Independent researchers Max Krause and Thabet Tolaymat calculated that it takes about 17 megajoules of computer power to generate US$1 in Bitcoin, even when the energy used for peripheral activities, such as cooling computers, is not factored in. By comparison, it takes 5 megajoules to mine US$1 in gold and 7 megajoules to mine an equivalent value of platinum. Aluminium-mining energy requirements, at 122 megajoules, topped the researchers’ list." Its from Nov. 2018, Nature Article.
@@Albundy423 Sure, but once you've refined the gold, it stays refined forever. Bitcoin requires continuous inputs of energy just to remain in existence. Who pays for this, if not the user of the crypto?
The carbon footprint of the total amount of vehicles on the road for 3 days in America is equal to the output of bitcoin since its inception. Bitcoin is on track to mine using only renewable and carbon free sources of energy by 2030.
Solar, Geo-thermal, Wind, Wave / Tide and Nuclear are just a few.
That was a great interview.....
Simon. Excellent post Thank You Very Much !
Gold is the one that has been controled by Governement and Banking cartel. Bitcoin scarcity is guaranteed but not scarcity of gold.
Don’t you think one day Banking Cartel can also manipulate Bitcoin price as well just like they did to Gold from 1980 to 2000
Wrong, Bitcoin is a distributed ledger technology. There are close to 1,500 clones just like it all vying to be THE cryptocurrency. Like most all technologies, newer and better versions will be created and Bitcoin will have to contend with that fact.
@@tg8603 well so far all contenders have failed. First mover advantage is a thing.
Progressive Investing just like there are hundreds of different metals. They don’t take the market share from Gold. It’s called the network affect. If I created 10 Facebook apps exactly the same and named then different, are they valued the same as Facebook ? Of course not.
@@johnbaird1694 not all cryptos are "exactly the same" - far from it.
Interesting and informative interview. Great metaphors and historical context.
1999 the Euro is born, value 0,13 gram of gold. 21 years later 2020, value 0,02 gram of gold. Euro devalued by 85% in just 21 years.
SUPER INFORMATIVE !! THANK YOU FOR SHARING YOUR INSIGHT
Wow !!! An interesting and thoughtful presentation. Thank you !!!
You can still buy gold and silver sovereigns. Gold sovereigns have a nominal value of £100 stamp on them, yet their bullion value is over £1200 right now. This makes them very tax efficient as an investment (up 20% in the last 6 months), yet they're taxed on the nominal value of £100. Plus there is no VAT on the gold (unlike silver). Makes you wonder why people keep their savings in a bank (as cash), but it does show how little most people understand about investing (like an ISA that doesn't even keep up with inflation).
Any thoughts on gold rubles pre revolution?
Excellent case against made out against bitcoin. Very sobering discussion.
This guy has never lived in Argentina. Money in the bank is not your money. And it can be taken by the politicians at any moment
didn't he say it?!
Simon is right that holding fiat is a leap of faith into the abyss but has cognitive bias regarding gold versus Bitcoin. While it's true that the Bitcoin network is dependent on internet which can be denied access to, the real question is what holds the value of your work to be spent at a later time. He himself answered this question. It's not fiat money but it's not gold either, in my opinion. I did have gold for a little bit and would probably add a lot more if my wealth would be significantly higher, but the problem with gold is that it's *only* a store of value - it is not possible to buy goods and services for it even if you wanted because governments have reigns over what is legal tender. So you could actually go to jail for buying tomatoes because you exchanging your gold coins for tomatoes would incur a taxable capital gains event for the seller. Just think about it.. If the Romans could dilute gold two thousand years ago, this would be a piece of cake in day to day transactions if everyone used gold with all the engineering power we have. Although Bitcoin has it's pitfalls for now, it still is the most dependable hedge against the lunacy of QE, MMT, etc. And if we lose internet in the western world, we have much bigger problems than losing our wealth. Yeah, think WW2.
I would argue at this point the entire world is dependant on the internet so I see no issues with Bitcoin being dependant on it. There is other ways to transact bitcoin that does not require the internet such as work on being able to do transactions via radio waves or from satellites! Point being if the internet goes away we are likely looking at a world-ending event anyway! The money will be the least of our worries! lol
whatsupbudbud the gov could just outlaw the exchange of bitcoin for goods too
@@Mohglee And they can confiscate all the gold and make it illegal to hold as they have in the past. What's your point? Outlawing bitcoin and stopping it are two different things! They would be about as successful as they have been at stopping file sharing which is not at all! Plus the people who actually hold all the power can hold the governments accountable just as Iceland did!!
Also being able to give someone physically comes with its own problems. A)you have to give it physically (hence you have to be at the same place) B)hard to deny you have it/hard to protect while Bitcoin is invisible (if done right).
@
whatsupbudbud....Yup......finally, someone who has grasped it, thank you !!
Simon should talk about mass and not weight as there is roughly a 0.2% difference in the weight of any object when moved from the equator to the poles. Of course the mass remains constant. Mass and energy by the way are both manifestations of the same entity, so if money is mass its also energy which is quite neat!
starting with the myth of barter is like starting a high school speech with 'the dictionary definition of ___ is...." REALVISION WHY DO YOU DEBASE YOURSELF LIKE THIS
Using all caps is UNDERMINING YOUR DEBASEMENT ARGUMENT!!!!!!!!!!!
Unfortunately Mr Mikhailovich's knowledge of cryptocurrencies is outdated in relation to the technological innovations that are currently evolving.
Yeah, agree.
Unfortunately not. No cryptocurrency has established a 2.0 influence, including hash graphs, monero, proof of storage, etc. All remain subject to fiat regulation and strong dependency on secrets without providing sufficient resistance to quantum computing.
@@conduit242 Quantum computing uh? Almost everything we have now isn't quantum resistant so i doubt crypto would be the only thing we'll worry about if that happens buddy.
@@conduit242 Argueing that quantum computing now or in near future is a threat to any cryptography-based technology is like stating mike tyson could win the world swimming contest because he has more muscles than those swimmers do.
You can stay completely anonymous as to what wallet address belongs to what person. It's like if I would buy gold from a stranger that doesnt know me and bury it in my backyard where noone sees me. How would you know I own gold then? Same with bitcoin.
Regarding your points and also the argument in the video that bitcoin is like the commodore 64 I think there is one significant difference which is that if you see the personal computers of today just as an upgrade to the commodore 64 - which it sort of is, hardware and software-whise - than the original idea of a personal computer is still there, it is just a better version of the first PC. If you think about the duality of the bitcoin network as both, a technology that can be updated as well as a currency system that requires mainstream-adoption, I think it is absolutely rational to believe the following: it is more likely that the network with the most participants will see major updates than another, more advance network with less participants to take over. The problem is you cannot see it purely as a technology, otherwise I would agree. It is highly unlikely that another cryptocurrency that does fulfil the same core functions for society would take over. It is more likely that the already established network is updated which is way easier than upgrading a commodore 64 because as a network-participant you dont have to do anything. Its just the people that mine or run full nodes that need to upgrade so no, I absolutely do not think the bitcoin technology can outdate, at least not within the next couple of years. I dont see it. So lets see what the next couple of years bring. I mean, the lightning network seems to be a real thing, ethereum goes 2.0 PoS, who would have thought those thing would actually happen 5 years ago?
@@conduit242 *and others* actually BTC and ETH are the ONLY 2 decentralized blockchains that have already solved the 'what if' quantum computing hack question.
It's as follows: due to the HARDCODED hash rate difficulty adjustment rates, at *best* a quantum computer that's 100% accurate (so this doesn't actually exist yet) could do 1 double spend on the network but would COST more in hash (calculation electricity) than it could steal back for that one time spend.
🤫
Gold can be stolen, BTC can only be TRICKED into giving away if you don't intend to. Can't store your gold keys in your head and walk through an airport security checkpoint with millions and no one knows but you 🤷♂️
Education is essential, just like when the internet started and people kept buying news papers and sending faxes.
Interesting insight towards the end in saying low or negative interest rates indicate saved capital is less valuable due to money creation making capital chasing projects.
Excellent Excellent Excellent VIDEO!!! best i have seen in a long long time !!!!! thank you this guy is a treasure trove of information and he really sends it home!!!!
This guy is my kind of guy! Precious metals are the ticket!! When trust is lost in fiat!!
"when" is the key - and the answer is no time soon
@@Erikpdx personally I'd rather be 10 years early than a day late
@@19phift4 you'd rather miss out on a decade of multiple returns on your money?
@@Erikpdx your talking about currency, precious metals is the only real money
@@19phift4 yawn. Money is any established item that can be traded for goods and services
This is a brilliant way of explaining gold and bitcoin.
Let me ask you another question, would you trust a bank or govt to store a box of yellow metal for you, or would you trust a global, decentralised ledger of who owns what, stored using the best encryption, on the biggest, most secure network in the world, which is itself on the internetwork - a network designed to survive nuclear war?
Great interview. Always something to learn from Simon. I really like the image showing the 6 coins of the realm over the last 2,000 year. Everyone should own a little bit of gold, not advice, just my opinion.
Do you drive a car or horse and buggy>Do cars evolve.If there was an emp,doesnt matter what wealth you have .Every person can make their argument.What about Tungsten???
I like this guy.
Refreshing questions regarding crypto currency.
Excellent interview with much information given.
money is crystallized human life force.
There is no solution to human problems (financial, environmental, earth's limited resources, confrontational ethics etc). Long ago India and China settled for a simple life, that is where we are all headed, requiring a huge degree of organisation and an improved philosophy.
Here’s another point. What if in the future, asteroids are harvested and gold supply is doubled or quadrupled. Then gold responds to the markets and goes down on value like any other commodity.
Loved your presentation Simon.And for all that say Gold can be confiscated I say no never again.people are more awake,just look at all the uprisings ,demonstration in the world.Would anyone be so brave and steel there gold after they been loosing on " fiat paper "...
Wow, best explanation of sound money I've ever heard. My fear however is that those with the power to "print" money for free will (by hook or crook) keep this modern monetary system going on a lot longer than we ever thought possible. The book of Revelation talks about a time coming when "no man may buy or sell without the mark of the beast". This monetary system (or an even more powerful, all-digital version) is coming to a point where it can control everyone.
I remember commodore 64 (summer, winter games) and apple 2e, at the time was jealous i didn't have one..
Great interview, very informative!
Id like to see someone interviewed who can explain how we will get out of our "current situation" relativity unharmed. I.e low rates, no inflation, large deficit and low growth.
*stealth inflation
@@admiraltroll5255 care to expand on that?
The cpi has been a cost of living measure for all of s +. Rather than the cost of goods measure they used in the 70s. By that measure inflation is (estimated) 10%
@@admiraltroll5255 Thanks for the answer. What is "s+" ? I think you missed some number there. Also what are these alternative metrics called?
Just ment as 30 plus years. The different metric is a price of goods analysis the items in the sample can't change where in a cost of living analysis you can switch between goods and factor in "increased value"
NOTHING IS SAFE !
He is a gold maximalists