Bitcoin vs Gold – Time To Debate

you know lucky over him as well so we don't have a heap of people join it what do they can they not see your URL they can't see the URL they can probably guess that if they really even though but I've never had it happen I've got my full screen shared if you want to lock it all right oh I've got no uh-oh right you're right so they can see on your side I got it I got it I got it um hold on one second let me cancel that lock the room cool so I'm gonna turn to turn the livestream off in the background so that's not I might keep running hey crazy sanic a mad cow always first in hey Glenn I hope you guys are all looking forward to our little chat about Bitcoin first gold will give you everyone a couple of minutes tune in so working your end as well like just get it up and go in here now be what a minute Daniel says he's pumped for this I think there's a lot of people that are very passionate about gold and silver and crypto as well and say well they're certainly not a not exclusionary right sound money is sound money and I think that's the Michigan we're where are you going we rely upon my side just so everyone out there on my side welcome everyone welcome to the Chazz so we're gonna be talking about Bitcoin and gold today and trying to be a bit more open-minded than Peter Schiff may be well you know it's I I have a lot of respect in a weird way for Peter because he's been able to basically totally trash non-stop Bitcoin and he gets paid for trashing Bitcoin he'll get invited to conferences for trashing Bitcoin he gets invited on TV where he can then you know promote his gold company all for trashing Bitcoin it's a good marketer it's a little bit like Rubini he's just made a fortune now from being in bash y'all crazy why do they keep inviting him to conferences and I think you could learn a lot from Peter Schiff about the banks and interest rates and all that stuff that he spoke about off record the GFC but literally doing the opposite of what he's been saying of that buy gold and sell Bitcoin if you have done the opposite of that for the last few years it was probably the best trade ever but maybe ultimately he'll be right absolutely I mean look the the long-term perspective for a lot of these things is very interesting obviously bitcoins so new great it's only ten years and we're still in the very early in the price discovery phase let's be honest about that but the also the flip side is is that it's still new technology right the the path has not yet written for Bitcoin we have where we want it to go but will it go there is the question or will something else come along that'll you know blow that out of the water hard to say getting to that I guess tonight so we've got nearly a hundred watching on on my end I'm sure you've got more over there okay I got 66 tuned in on my side which is good hit the like button everyone smash that thumbs up so on both sides so that you know the YouTube algorithms they see this they bump it up a bit further and the more people can come in and see so welcome welcome welcome everyone I see all the comments coming in here so we will be answering a few comments as well so make sure to bring some fun questions we're gonna be talking about gold are we talking about Bitcoin and kind of breaking down the idea of sound money for everyone and which one why they're both good but why they're all so different and you know bit of that so absolutely you're honoring people's questions about what they think about gold is suppressed do you like silver better now more of a fan of Bitcoin and you've sold your metals or how does the audience think about it also keep one eye on the chat but do you wanna maybe tell your story like because I was interested when you said that you were interested in gold at the while back yeah well you know I started getting really interested in investing in stuff back my late teens actually and I was reading books on economics and Warren Buffett books and all this kind of stuff and I was really getting into gold and I didn't have much money so it didn't actually end up investing in any gold but I was really interested in it and was figuring out different ways okay how can I you know it's right into the gold market and stuff and you know I was I was young and I was lacking I think a lot in self-confidence back then and you know I've met some hotshot trader guy out on what he key and he's like ah you know gold that's that's all done you know it's about whatever else now is he focused on that and it's like okay I got discouraged and started getting you know early twenties getting drunk all the time and stuff and just kind of you know lost it for a while but uh I did a lot of research on gold and I like it gold you know it was very interesting this is obviously well before Bitcoin was around this was we're talking 2001 2002 2003 like that far back right this was still six seven eight years of for Bitcoin it even been invented so you know it's very interesting for me the history of gold the the sound money concept of gold yeah completely grey and that's how I got into it watching all those documentaries about the GFC after it happened and you know a lot of this was conspiracy theory at the time and then God really had its run after the central bank's did that QE for the first time printing money and then I guess gold so lost its way the last few years as central bank's have been promising that everything will go back to normal and interest rates will go back up and the economy will be great and just in the last few months Gold's had another great run when people are realizing that we'll maybe we're gonna have more of these in the future well it's really amazing when gold went up like was it it went up fifty dollars but in order for that to happen I mean that was hundreds of billions I think even coming into the gold market which was a very substantial amount of money we look at what some of the central bank's have been doing we know rush has been by me know China's been buying right we know a couple other countries have been stacking gold like it's going out of style because the global economic system the global political system right now it's pushing these countries to sound money and it's the money that they've always known right it's the money of their grandpa's and their grandpa's grandpas and grandmas and grandpas gold has got an amazing history in terms of its store value yes so I think the round figures are you know let's call it a seven trillion dollar market and if Gold's $1400 for it to go up a hundred dollars that has to be half a trillion going into it which is absolutely crazy imagine if that tried to go like Bitcoin in one day but I guess I wanted to maybe ask you what your thoughts are now about it or what do you think the the biggest critiques are of gold or where it maybe doesn't have its place anymore yeah I mean there's a few interesting things obviously I think we could talk about some of the really far-flung theoretical stuff we'll get to that in a little bit maybe but for me one of the things I look at gold and I still think Gold's good but I look at gold nice I think well I could invest the money in gold or I could invest my money in Bitcoin and I look at the two and I think well gold is largely priced in it's not gonna have a 10x 20x you know we're not gonna see a $14,000 gold anytime soon but Bitcoin were still an early price discovery phase with it relatively early anyway so even if I was very enthusiastic about gold and wanted to get gold I would probably better off to wait five or ten years sell some Bitcoin for gold when Bitcoin starts reaching a more mature price level yeah I tend to agree the potential upside when you compare the two market caps I think Bitcoin as more upside the only thing that I guess I look at gold has been really favorable for is the amount of money that's out there these days and all the stock markets around the globe and if it seek some safe haven it's not going to go into Bitcoin particularly while there's no ETF yet or anything like that it's going to go into gold and I think the average number is you know less than 1% of portfolios around the world have some gold in them so if that number goes to you know 2% maybe 5% in a financial crisis maybe God could do a 5x and there's gonna be a lot of beet money parked there that can't park in Bitcoin yeah well it's really interesting to see you know like Ray Dalio coming out and saying guys you gotta go out and gets yourselves some gold because the political situations getting such that fine gold or something similar you know and I asked as having a bit of fun with rady of the day of my video but he's right we're looking at some pretty tough economic times potentially coming forward and I know everyone's always screaming the sky is falling and stuff like that but you look at the big picture of you know that nearly half of the world sovereign bonds are doing negative yields as an example we have unbelievable unbelievable amount of debt unbelievable amount of quantitative easing I love what these words they come quantitative easing it's just inflation you're stealing my money from my bank account but all this stuff means that sound money is incredibly valuable in a time like this yeah and I guess one of the things I want to share tonight was the mistakes I've made or what I learned when I first got into gold and I bought some silver and there was youtubers out there and people trying to sell you a news letter saying that everything was going to crash and this can't go on for more than a year or two years and some of them are still saying the same thing 10 years later so yeah I guess that does get you a lot of views if you sell that fear porn as they call it but I actually genuinely think now that we are heading into a time with a lot of uncertainty so maybe they'll ultimately be be proved right but yeah I guess the advice would be to listen to both sides of the argument because when some one person says who was going to $600 and another person says well industrial use is declining and you kind of got to make a balanced opinion in your head well this is the one thing I've always really loved about metals is that they have got this inherent value now obviously we look at them as a speculative asset or to the extent that some people speculate on them or we look at them as a store of value because they're rare metals right or yes people want them for jewelry and stuff like this but the reality is they can be used for jewelry they can be used for microchips and different industrial purposes and things like that and that has a real value you know when it comes down to it but but when I look at you know the modern internet age there is definitely a place for rare metals right I've got it in my phone my computer and all that stuff right but if I'm thinking about the transfer value or the easy portability of value and all these different things that look I'm not like a multi-millionaire or something and I've got you know 500 kilos of gold I gonna drag around with me or something like that but a similar amount of Bitcoin is completely incomparable when you think about it because that that same amount of Bitcoin can be transferred anywhere in the world for a dollar without plane and security and customs duties and all these different things confiscated ability yes I guess the message is the electronic nature of it makes it far more portable and I guess the counter-argument would be well what if there's some unknown bug that we find in all communities what if there's you know a blackout with power you know an EMP knocks out all the devices and all the ledges around the world so the chances that that all happening is very slim but I guess that's something that the gold bugs put forth you know it's a real physical thing yeah absolutely and look the the real realness of it the fact that you can take a piece of gold hold it in your hand I mean that means a lot to a lot of people and I totally get that I totally respect that it makes a lot of sense to me I mean Bitcoin it's just it's out there somewhere Bitcoin right can't see you can't hold it you have keys that allow you to access a tiny percentage of the ledger but that's it yeah right and we it's really funny when you think about it that's just this code that we assign value to there's a rare computer code that we assign value to that probably leads you into the next thing that I wanted to talk about weave gold and there's a question about how the gold ETF came out and it led to a ten-year bull market so I'm not sure if it was necessarily the ETF that caused the market or is the timing of everything happening but these days is the conspiracy theories about price suppression now some of these banks have been fined for you know meddling with the price so that is some truth to it but in the world of these futures the same as we now have Bitcoin futures that aren't backed by real Bitcoin they're cash settled and what we see in the gold and silver market that these big traders are just dumping huge amounts of contracts at times like 3 a.m. in the morning to push the price down it just doesn't really make sense so there's definitely sort of some elements of truth to it I'm not sure how much of a conspiracy theory it is but that's what we don't want to happen with Bitcoin we don't want to get all these you know cash settled products and all that money try and chase exposure to Bitcoin but it doesn't end up buying any actual Bitcoin and pushing up the price you know this is the great part about some of these new I mean great quote unquote part about these new futures contracts from back and ledger ex and stuff like this that they're physically settled in Bitcoin so that's good that makes them you know much less speculative but it's still you know you're gonna have this is the testing ground they get the physically settled ones through and then they start just thrown out more cash settled ones and obviously CME's cash settle but it's problematic if they can if they can manipulate it they will and they've got teams of people dedicated with trying to manipulate stuff and we looked at what JP Morgan did no they got caught with silver great ratings and stuff like this so I've gotten interested in question here I'd like to throw your way Alex it's from guy Ryan Renfrew do you think that gold could ever be confiscated again this obviously in reference back to was that Wilson that Kara members was one a long time ago back in the 30s in the US I've actually just recorded an interview with Paul from Ainsley bullion and I asked him this question so his response was basically that it is actually still written in the law that they can confiscate it but it was that there was at a time when gold was money when everything's and and the central bank's literally needed gold to get more money for the war and other things whereas these days if they need more money though that will do QE so there's no room need for them it would cost them more to round up people and their gold and store it yeah it would be worse so he thinks that it's written in this old law that it's still possible but I'm just don't know how that would ever happen you know it's these old laws they're they're tricky because they haven't taken it away right it's it's there as a safety kind of an insurance policy for them because if the economy were to collapse and dollars weren't worth very much well I mean we could see precedents been set recently the Julian Assange where they pulled out the Espionage Act which is something they hadn't charged anyone with for like 50 or 60 years look but it's on the books so we're gonna do it because we can I guess the counter-argument would be at a time when they're that desperate that they're not allowing people to invest in alternative things that probably say Bitcoin in exchanges are illegal that's so similar it's what they did in China if that was to happen so they kind of the counter-argument I go about with Mikey I guess you know it's um you mentioned a few the I guess the theoretical things right about like the MP and the MP could knock out a Bitcoin and all that stuff and I've always thought man if we have like an EMP kind of situation we're gonna have way bigger problems then you know our Bitcoin being gone the fact but like everything is gone so technologically people at home that don't know an EMP is an electromagnetic pulse that can take out all electronic devices and it's something that happens the Sun can actually give off those powerful waves as well and it actually did happen I think the last time was like in the 20s or 30s the Sun had a big EMP and it knocked out a lot of the power lines in that and we haven't really had one you know since we live in these modern technology could I you know I don't know if that's up it's certainly true if it's likely to happen again or if devices these days are more protected from that but it's all pretty interesting gotta get yourself a I was a Faraday box to put your app at your ledger in doesn't matter if you're the only one copy uh you know the whole thing but but it is interesting obviously look there's all these theoretical x' from you know any MP hitting and knocking out all the world's electricity and erasing all data and all the stuff is the most extreme thing right but then on the flip side he just is easily bring in the yeah but asteroid mining it's going to happen at some point it's an inevitability that there will be asteroid mining it's just a question of when it becomes you know profitable to start mining asteroids when that happens I think that really changes the game that's not gonna happen in our lifetimes I don't think right maybe they'll get the first one in our lifetime or something like that but how slow we've seen space exploration progressing it seems very unlikely we're gonna go out and catch a meteor and you know yeah mine it but as we could so I guess yeah the the conversation is around new supply and I think they someone did a great piece about the stock to flow ratio and how Bitcoin having is gonna make it more scarce than gold and so I think Bitcoin does have all that in its favor I guess what I would say is it's a to be so expensive to mine gold from an asteroid just like the the cost to do fracking oil is way higher than farm and oil well and I think seawater has one part per million of gold in it so at some cost eventually you can just extract that from seawater but all these things are going to come at a super huge price compared to dealing the ore out of the ground you know one thing that I found really interesting is almost never mentioned in conversations around gold is actually the really heavy environmental impact that gold mining has on the world and you know this is brought up constantly about Bitcoin it's a constant attack point for bitcoins that all bitcoins you see so much electricity right bitcoins bad for the environment but you know obviously a lot of Bitcoin miners they're trying we're about seventy five percent or so renewables at the moment but not much conversation I mean you see the occasional news report from aljazeera or something like that but gold mining is pretty rough man because a lot of it's done using diesel right a lot of the big trucks they're using diesel you have these smelters where we've got mercury and other heavy metals I did the math I can't remember the numbers off the top of my head but um the amount of diesel burned every year on average to mine gold is using more power right then uh Bitcoin mining is using currently and then of course we could have deforestation we see there in the Amazon they're cutting down trees and blasting away the the topsoil or to extract the gold and all this stuff so what do you think about this do you think that there's a real argument there I mean obviously look gold mining is gold mining we need it for microchips and stuff like that but yeah I mean I guess I've never thought about it too much from that perspective because in Australia where we mined in the middle of the desert it's not really cutting down trees or anything but I definitely agree at some point maybe we'll look back in the future a thousand years and say well I used to do the ground and that was super valuable you know who knows where we go in the future but other things like silver that are byproducts or rare earth metals that are in the headlines with the us-china trade battle require a lot of chemicals to separate them from my understanding of that so it all comes at some sort of cost I guess and to nature of it yeah that's right I mean there's the old thing there's no act of creation with an out without an act of destruction yeah that's what was something to bring up to know about how God is created and I think it can only come from the elements that form out of a supernova or when two neutron stars collide so it's actually super interesting about how gold is rare all through the universe as far as we know from the way it's created which is fastened you think about these these metals about how they're flying around in space and the gold is so amazing because it never tarnishes it never gets bad right and this is obviously why it's been chosen as a store value for thousands and thousands of years by society after society after society because you can take a piece of gold from the Roman Empire and melt it down and make yourself a watch today and it's the same damn gold that it was all the way back then other metals like you know iron for example rusts away yeah so it's really powers a really amazing metal gold I want to ask you about the security so a lot of people say if everything collapses and some people think it's going to be as bad as some sort of Mad Max scenario but how do you compare going to the shops to have to buy something with gold or silver versus if someone sees you paying with Bitcoin are you just as likely to get robbed on the way home sort of thing mmm it's interesting it's really really interesting because obviously paying with gold is very tricky right unless I guess it's a gold dust or something like that and you have to trust the guy in front of you has a legitimate scale and all this stuff but it's cutting gold right it's not not the easiest thing to do and it's tricky for that so I think you'd be much more likely to I don't know be attacked or whatever but let's say you're carrying a Bitcoin in a ledger right and if that's the case well then it's pretty safe because even if someone does you know knock you over the head on your way out back from the shop and take your legible they only have three chances to get the passphrase right and then it resets so that's pretty secure someone's just asking about the best way to get exposure to go out and silver so I guess these days if you've gotten shares account set up – there's the ATF's one of the best and cheapest ways is just buying that boring our bullion I guess for people and they can even store it for you it's pretty low fees these days but it just depends it's a little bit like crypto where you can go down the rabbit hole and chase stocks and the small miners or like you know those old coins that you're hoping they're all hundred X but they're super risky so yeah that's the way I kind of think about it all I think one thing too is that um I mean look I guess we're we're the kind of people you'd be able to prove the authenticity of your gold or also prove the authenticity your Bitcoin cuz you can look at it and know cuz you're you're in the know right I think is tricky to an extent with gold because now people don't really have the wherewithal of you know how to identify what gold is right yeah I think you'd probably I'm sure they have gold were to be more popular as a for money now you'd have a lot more scanning with people trying to pass off you know gold imitations and stuff like this tungsten tungsten bricks covered in tiny bits of gold for example yeah I see the marriage of the two technology so go back tokens is super interesting and now we see some silver back tokens and that's another way for people to get exposure but maybe spend their gold in smaller fractions do you think that there's something there I mean I know personally that down the line somewhere I'll be comfortable to take profits in to die or take some profits into gold as you mentioned earlier yeah absolutely no it's I've even thought about something like you know just holding digits out tokens but I thought you know you know it's I like digits I like digits I think I think it's a really cool project but I actually thought well if I'm gonna take gold it's kind of you know the not your keys not you're a Bitcoin thing well not your gold not your gold basically right and so the third-party trust is I think tough for those situations but definitely at some point you know diversification into different assets like whether whether it be die or something like that or actually getting a holding some physical gold absolutely yeah I think D Jake's have done their audits today so far I'm pretty good about that and I know there's other projects where you can come in and redeem and take physical delivery but I certainly agree with your point where you don't want to be risking it but there's nothing on the other end laughs yeah I mean this is this is always the problem with these any of these proxy tokens whether it be tether or digits Dow or anything else you are trusting a third party to have it together to not get raided by the cops to not get robbed and all this stuff and like yeah digits I totally believe that they are doing audits I totally believe that the gold until they don't write until the Mafia finds out where their gold vaults are and raided and steal all the gold right I mean that can happen we've got a question about the gold to silver ratio so is that something you've looked at before luck because it's sort of it's got two extremes lately I haven't looked at it very much you tell me a bit about it so so basically I think the ratio that comes out of the ground is 12 times as much silver as gold and a lot of people say that should be the price ratio but it's a lot more and recently got out to nearly a hundred to one and so the ebbs and flows a little bit like the lightweight cream like weekly ratio exactly so that was a screaming look by for a lot of people and silver has played catch-up a little bit and it normally does play catch-up like the whole coin between relationship if we are heading into this time where more people are seeking precious metals as a safe-haven yeah you know it's I like silver jewelry personally but I've never actually thought of silver in the same way that I looked at gold or perhaps other maybe rarer metals right I mean do you look at much into things like platinum or any of that so platinum and palladium of far more industrial for the using cars for lowering emissions and a lot of other uses that I I'm not an expert in these things but there's actually a big silver community out there silver stack is and you can buy the the coins and yeah there's a lot of people who like this silver I guess because you get one little coin of gold for $1400 silver you kind of feel like you're stacking more and getting your treasure you can spend it easier if you're actually having to use it in a situation but yeah I'm sure there's plenty of silver fans watching this show it's amazing psychologically to think about how that works and it's just we see it play out again right in the same way that people look at all gold it's too expensive gonna buy silver instead I get it same reason people don't buy a Bitcoin and they buy litecoin instead exactly a unit boss a unit boss yes that's right that's that's why people find the the the micro altcoins like this is only 1/100 of a penny I'm gonna buy a billion of them yeah and that's why I guess speculation is still the main driver of crypto markets so have you got any more interesting questions coming in there yeah well uh I met max near okay questions guys feel free bring your questions into the chat here I've got one question from Ricardo and it's good the question is how much gold silver and bitcoins should one owe them but maybe this is more of a question not quite that question but maybe for you like how much portfolio percentage-wise like I mean are you like 50% into gold and 50% in the Bitcoin or like you know what's your kind of crypto to metal ratio you know so I can't give financial advice or anything but I think the general rule of thumb as an investor is the older you get the more you want to protect your wealth if you're planning on retiring so you know I would be encouraging my dad to go all-in on gold or be Bitcoin something like that so if you're younger and you're happy to take those risks and think it's gonna play out over the long term maybe you do have a heavier waiting but yeah I still think that you can own stocks and even if the stock market goes down there's still plenty of companies that do really well I think having money on the sidelines is always great if we have a stock market crash or I'll actually think that in a bad crash Bitcoin might go down the same as gold went down in the GFC everything you might go down and then you get to buy up more on the cheap so one thing I do see and you probably see it as well is a lot of people put it all their worth in to halt coins and super risky stuff and maybe they're wishing they had have been a bit more sensible into Bitcoin now yeah so a good mix you know property's expensive at the moment in Australia there's you know having a mortgage in a place to leave for a lot of people still a good investment so you've got to sort of balance it out with your lifestyle and all those sort of things yeah absolutely and I think to be honest that's one of those things that's always just it's a very much you kind of question right you're the one who needs Dancer well how much gold should I have how much Bitcoin should I have how much should I invest in a property how many stocks should I have like that's you man that's that depends on what your appetite for risk is that depends on how much money you actually have to invest what your situation is can you safely store your gold where you live I mean not everyone lives in that situation if you're living in I don't know a multi flat apartment with three or four other people you kinda know but not really like maybe that's not the best place to be having you know 20 grand worth of gold sitting under your bed you know I think the Phenom would say he's encouraged people to get engaged into their own net worth because a lot of people don't know what Superfund they're in and I know a lot of people lost money in the GFC they didn't know that they were exposed to all these shares and there was a lot of prom minionese portfolios and in your super you can choose to have it as a defensive thing or have it as more aggressive and you know just be aware of what you're invested into I guess I think one of the real things and this is money investing right across the board understand it know what's going on because we're not taught about it in school which is it feels like a criminal conspiracy like how can we not be taught about money in school how can we not be taught about investing and you know Maxim's of how to like manage your money and stuff like this you're not that I've never got any of that stuff in school and I don't think almost anyone anywhere does and that's that's like criminal in its in its the way it's rolled out but you need to actually have these conversations and say okay well you know what can I do how can I manage my finances and try to have that long term picture of you know growth and stability and security yeah I wasn't interested or didn't study any of that ask away there wasn't until it affected me in that JFC happened that I wanted to learn about it all and you can learn so much out there these days but the other thing that I found very interesting was is it safe Deen almost is he then one of the Bitcoin guys who's written that great book he was a guest on Anthony pomp liard knows podcast recently in he is an economist and he was talking about how economics these days people are really questioning their degrees they're getting because it's all these central bank theories that actually might they might not be right these days and we might be going back to this whole Austrian ISM verse canes and ISM debate so that was interesting for me to hear an economist say that we still don't know a lot about economics it's a bit like saying we don't know how the human brain works here medicine fully yet mm-hmm it's it's really crazy when you think about it that things are taught as definitive truths but the jury's kind of still out on is this actually the best thing like it might be the predominant thought at the moment but look at history things have changed and just you know we get to this point and think well we're we're we're the most onto it generation yet we have the best ideas and that's not always the case maybe well what do you think do you think bitcoin is going to be around so and be the winner long term what do you see Bitcoin being you know this tech stock that gets disrupted I think that Bitcoin will be around for a very long time assuming that it can actually manage to continue to adapt and grow right if Bitcoin at a development level is suppressed and cannot continue to adapt to the changing world well then it's gonna have a tough time as actually I made the video today I haven't released yet but it's I was kind of talking about Palestine and how they're looking at a Crip you know doing probably some central bank you should cryptocurrencies I was thinking okay let's think this does an example I could Bitcoin actually save Palestine right and basically looked at and I thought okay if there's five million people in Palestine if every person did one transaction a day that's ten times the current capacity of the entire Bitcoin network doesn't work right and that's and snow yeah that's called a terrific conversation stands today I think Iran announced that they're doing a go back through throwing in Libra so it's I think this is all bringing Bitcoin to the forefront though because every citizen is being challenged with what is currency and what is money mm-hmm and if Bitcoin you know can maintain its its sound money principles right assuming at no point anyone screws with the emissions or something like that in the future I think the Bitcoin could definitely stay as the premier of cryptocurrency I don't want to say that's always gonna be the cryptocurrency that's worse that that's number one though that's that's an interesting thing and that might be very controversial for somebody here but there is a situation where Bitcoin could be worth insane amounts of money multi trillion dollar market cap but there might be something that creates more value than that which we haven't even seen yet and just if you think about like Assyria right I'm not saying it's gonna be if you think about a theory on how aetherium is and what would be basically you know the amazing value to come out of everything built on that that entire network what kind of value would that network have and would that network that is everything all media stocks bonds all this stuff have a greater value than something that is just a store value or a per capacity limited transactional currency yeah that is the ultimate question isn't it what is the bigger industry you know the internet and all our devices or no money and finance and all these derivatives these days and both are huge things that are being disrupted by Bitcoin aetherium and all the other platforms that are trying new versions of decentralization that's it it's it's it's so interesting to see how this all plays out and this is this is what it all comes back to I think that the crux of our conversation well we'll wrap it up here in a minute but really this idea that cryptocurrencies the whole thing is so damn new just like the internet is really still so damn new I know we're used to it you know you and I have grown up with it I mean when did you first get an internet connection yeah in primary school terribly the worst possible internet you could have down here in Tasmania with the dial-up and MSN Messenger would just run and downloading songs on kazar and all that so oh yeah all that good stuff and you think about that I mean we were kids right but that's grand scheme of things incredibly incredibly reason obviously the interests of revolutionaries Daliah is in the same way that cryptocurrencies have the potential to tow the revolute Lucian eyes finance and a whole range of other things from property stock markets medical records I'm right on down the list it can be very very interesting to see how it all goes but that's all new it's all of you gold has been here for thousands and thousands of years it's it's got a lot of history man it's got a lot of years of proving itself that cryptocurrency just don't have yet yeah and I guess in wrapping up wrapping it up I would probably say that that is the biggest thing working in God's favor that if we have some sort of crisis in the next 12 months you have to remember that there's big fire managers out there that still don't fully understand Bitcoin and they're not gonna go there yet they will probably go to go but I'm definitely very excited about Bitcoin but tonight I'm defending gold a little bit okay let's you know this is this is what I always say is I like to have a bit of fun gold sometimes you know like that that's Thor the other day from India where the guys were you know smuggling smuggling gold in their butts like just that's fun that's fun I love that kind of stuff but the reality is I got a lot of respect for gold investors because those people appreciate sound money those people appreciate money that they can hold in their hands that has not beholden to central banks and all that stuff Gold's powerful money I think bitcoin has more potential though it's so interesting to watch those that have jumped sides or now interested in both and those that holding firm like the Peter Chiefs so there's a lot of overlap it's a I've enjoyed that conversation tonight luck I hope you guys have it at home we've dive into a lot of different points so any final thoughts I just to thank everyone for coming out we got 250 people watching right now so you guys are totally awesome seriously thank you so much for coming out I know for a lot of you guys is like first thing in the morning but for everyone in Australia New Zealand and you know up in Asia who have come in to join the chat you guys are awesome so thank you so much for listening to our chat about Gold and Bitcoin Alex as always a really really great time so thanks for you know reaching out and wanting to have the chat yeah thanks thanks for joining me and if people have got more questions or they want to do a seduce again with another topic then always open to it so thanks for tuning in guys thank you Cheers bye guys

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