Perspective on Money, Currency, Banks & Bitcoin Part 2/2

My Thoughts on Bitcoin (0:00 – 12:50)

  • Bitcoin is reminiscent of the Dutch Tulip Mania of 1634-1637.
  • There are at least 10+ crypto coins out there.
  • Perspective and analogy to the history of Social Media and Search Engines.
  • Blockchain’s sinister origins:
  • Chinese Bitcoin Theories (not in the podcast – added later)
  • Bitcoin is a sponge to divert people from gold, which is truly out of the government’s control.

Gold and Silver (12:51 – 22:10)

  • Precious Metals Overview
  • An ounce no matter what is printed on it is still an ounce of gold and its’ value is defined by the weight. With paper money, the value is defined by what is printed on it.
  • However, not all Gold and Silver are created equal.
  • Differences between legal tender and bullion gold.

Related image

Legal Tender is gold issued by a government with face value, offering many benefits over bullion gold.

Wrap Up (22:11 – 23:00)

  • Economics is the collision between mathematics and psychology.
  • Gold and silver need to become easy to transact before it returns to the mainstream.
  • Gold and Silver are money and everything else is currency whether it be USD, NOK, EUR or electrons!

References:

Bitcoin Robberies

http://www.coindesk.com/hackers-steal-bitcoins-inputs-io-wallet-service/

http://www.thedailybeast.com/behind-the-biggest-bitcoin-heist-in-history-inside-the-implosion-of-mt-gox

Banks Pay Hacker Ransom in Bitcoins

https://futurism.com/banks-are-hoarding-bitcoin-to-pay-off-hackers/

http://www.zerohedge.com/news/2017-06-08/jim-cramer-goes-batty-bitcoin-may-hit-1000000-act-now-its-too-late

Different Types of Bitcoins

http://www.hongkiat.com/blog/hottest-cryptocurrencies-to-know/

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