Topic: Max Keiser Says Bitcoin Will Become the World’s Reserve Currency - page 2. (Read 430 times)
January 05, 2019, 07:15:51 AM
I definitely agree with him, but it will take long.
January 05, 2019, 02:25:09 AM
Quote
So we’ve seen a few of these crashes, but what I do know from experience … In the past, during these previous crashes, a lot of building took place during that time, robust companies were built. They were no longer distracted, engineers are not distracted by price increases of 10, 20 or 30% a week
i definitely agree with him on this point. bubbles are extremely distracting---people start focusing more and more on price and less on technological use cases and the ecosystem. it's during the bear markets that companies and infrastructure quietly get built and bitcoin's utility improves
January 05, 2019, 01:52:09 AM
Quote
So we’ve seen a few of these crashes, but what I do know from experience … In the past, during these previous crashes, a lot of building took place during that time, robust companies were built. They were no longer distracted, engineers are not distracted by price increases of 10, 20 or 30% a week
i definitely agree with him on this point. bubbles are extremely distracting---people start focusing more and more on price and less on technological use cases and the ecosystem. it's during the bear markets that companies and infrastructure quietly get built and bitcoin's utility improves.
This may be true, but if it is still a building block to price increase, then it still leads to the same goal. As long as bitcoin has a speculative value, it would take precedence over the utility and product development. All investors are financially motivated, only a few are also concerned with the product.
it doesn't have to be always like this and it won't last long either. as price becomes more stable or even during the volatility years when the drops happen they make the pure speculators leave the market and only those who care about the "product" remain back.
besides it doesn't have to ONLY be one or the other. it can be both. for example you may want the financial sovereignty that bitcoin and its decentralization offer you but at the same time you want the profit that it gives you too because you are still living in a world that fiat is dominant.
January 05, 2019, 01:46:20 AM
Max is wrong. The countries that are using SWIFT at the moment, would never shift to a payment network that are not controlled by a centralized authority. When something goes wrong, countries want to hold a centralized authority, accountable for their loss and they want full control over that payment network.
They will simply "upgrade" the old outdated SWIFT system, to be more effective and Banking groups like R3 with the help of Mike Hearn are already targeting that application with the payment network that they are developing.
They will simply "upgrade" the old outdated SWIFT system, to be more effective and Banking groups like R3 with the help of Mike Hearn are already targeting that application with the payment network that they are developing.
January 05, 2019, 01:21:06 AM
I no longer trust any opinion from anyone about cryptocurrencies price. I'd rather do my own research than trust them. But news like this can be used to know how market sentiment in general. Don't trust the opinion, use it wisely.
January 05, 2019, 12:49:22 AM
I personally always take Max Keiser's opinions very lightly. While I agree on some of his statements, and I think that bitcoin being the world's reserve currency is technically possible(unlikely, but still possible, but definitely not anytime soon, or not even in our lifetime), he tends to be overly optimistic and sort of "shilly?" with everything he talks about, that it actually makes me increasingly skeptical of him.
January 05, 2019, 12:36:29 AM
Quote
So we’ve seen a few of these crashes, but what I do know from experience … In the past, during these previous crashes, a lot of building took place during that time, robust companies were built. They were no longer distracted, engineers are not distracted by price increases of 10, 20 or 30% a week
i definitely agree with him on this point. bubbles are extremely distracting---people start focusing more and more on price and less on technological use cases and the ecosystem. it's during the bear markets that companies and infrastructure quietly get built and bitcoin's utility improves.
This may be true, but if it is still a building block to price increase, then it still leads to the same goal. As long as bitcoin has a speculative value, it would take precedence over the utility and product development. All investors are financially motivated, only a few are also concerned with the product.
January 04, 2019, 11:57:48 PM
While I do not see prospects, that Bitcoin could become a global reserve currency. For citizens it is still possible, but for states, government agencies and even business structures, this is unlikely. Bitcoin has already technically lagged behind other cryptocurrencies, and in addition, it has a high price volatility, which negates all its other advantages. In any case, Bitcoin needs to be improved; without this, I do not see its considerable success.
January 04, 2019, 11:23:41 PM
however, i'm skeptical of the "world reserve currency" narrative. i'm not saying it's impossible, but we'd really need to see a complete breakdown of fiat currency systems at a time when bitcoin was ready and tested as a robust alternative to the current system.
what most people (even bitcoiners) don't know is that bitcoin is an "alternative currency" and it has never been a "replacement currency". you never hear Satoshi say bitcoin is set out to replace the old payment systems. the problems are pointed out and bitcoin is proposed as the alternative way that solves many of those problems.
January 04, 2019, 07:32:27 PM
i definitely agree with him on this point. bubbles are extremely distracting---people start focusing more and more on price and less on technological use cases and the ecosystem. it's during the bear markets that companies and infrastructure quietly get built and bitcoin's utility improves.
however, i'm skeptical of the "world reserve currency" narrative. i'm not saying it's impossible, but we'd really need to see a complete breakdown of fiat currency systems at a time when bitcoin was ready and tested as a robust alternative to the current system.
however, i'm skeptical of the "world reserve currency" narrative. i'm not saying it's impossible, but we'd really need to see a complete breakdown of fiat currency systems at a time when bitcoin was ready and tested as a robust alternative to the current system.
Trouble is many of those carefully built companies die during the withering of the next bubble. If I were a VC I'd plan accordingly. Not many seem to.
It's possible BTC might end up considered a reserve currency by real people rather than governments. There doesn't have to be one and one only.
January 04, 2019, 06:54:51 PM
Quote
So we’ve seen a few of these crashes, but what I do know from experience … In the past, during these previous crashes, a lot of building took place during that time, robust companies were built. They were no longer distracted, engineers are not distracted by price increases of 10, 20 or 30% a week
i definitely agree with him on this point. bubbles are extremely distracting---people start focusing more and more on price and less on technological use cases and the ecosystem. it's during the bear markets that companies and infrastructure quietly get built and bitcoin's utility improves.
however, i'm skeptical of the "world reserve currency" narrative. i'm not saying it's impossible, but we'd really need to see a complete breakdown of fiat currency systems at a time when bitcoin was ready and tested as a robust alternative to the current system.
January 04, 2019, 05:34:21 PM
Max is a stock market doom preacher. If his preaching comes true and there is a total meltdown there's a high chance Bitcoin will become the safe haven for hedge funds and burned stock traders. But what if it doesn't happen and stocks don't dive? Bitcoin is still very cheap but if it became a reserve currency we wouldn't be talking about going over 20 but 200 thousand or more.
January 04, 2019, 05:26:58 PM
A permabull's observation shouldn't be taken as the truth or something that's gonna happen, though the talks about bitcoin being a hybrid reserve currency has been around since 2015 yet no country has ever dared touched it yet. Keiser may have been right a couple of times, but this one is too far fetched for the current times as there are only a handful of countries with a definite legal framework for bitcoin. Also, we are still in the phase wherein bitcoin exhibits spikes of volatility every now and then, so it might take a loooong while before we migrate into a new system in the future.
January 04, 2019, 04:52:43 PM
Max Keiser, host of his financial program Keiser Report stated that Bitcoin has the potential to have a major role in the modern global financial world due to its fundamental value.
On New Year’s Day with Keiser Report, it was pointed out that Germany is currently working on an alternative to the current system Swift, which is the global financial payment network based out of Belgium, but was said that United States is the leader in the network.
“A replacement to that [SWIFT] begins the end of the US Dollar hegemony. Bitcoin also emerged in 2009, and that is starting to take over and get bigger despite de price crash… The prices are down … But in terms of where Bitcoin is going, you and I have been involved with this space since 2011, we’ve seen it crash 94% in 2011, and it crashed something like 88 to 91% in 2013, 2014, 2015… So we’ve seen a few of these crashes, but what I do know from experience … In the past, during these previous crashes, a lot of building took place during that time, robust companies were built. They were no longer distracted, engineers are not distracted by price increases of 10, 20 or 30% a week”
Read full article here
BTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTC
On New Year’s Day with Keiser Report, it was pointed out that Germany is currently working on an alternative to the current system Swift, which is the global financial payment network based out of Belgium, but was said that United States is the leader in the network.
“A replacement to that [SWIFT] begins the end of the US Dollar hegemony. Bitcoin also emerged in 2009, and that is starting to take over and get bigger despite de price crash… The prices are down … But in terms of where Bitcoin is going, you and I have been involved with this space since 2011, we’ve seen it crash 94% in 2011, and it crashed something like 88 to 91% in 2013, 2014, 2015… So we’ve seen a few of these crashes, but what I do know from experience … In the past, during these previous crashes, a lot of building took place during that time, robust companies were built. They were no longer distracted, engineers are not distracted by price increases of 10, 20 or 30% a week”
Read full article here
BTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTCBTC
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