The Future of Blockchain and Cryptocurrencies | Keynote at ChainXChange | Las Vegas, 2018

I'll be back thank you so much thanks for having me so I've been spending the last couple of hours meeting a bunch of people here and it really allowed me to kind of frame up where I wanted to go with my talk and and I think the word that's most populated to my mind at this conference so far is patience I think that when I think about blockchain or crypto when I think about AR and more importantly when I think about my career I think the word patience is something that needs to be talked about here this this afternoon has been a lot of fun for me because it's kicking me vibes of the social media conferences I went to in 2005 six seven it's kicking me vibes to the feelings I felt when I launched the e-commerce wine business in 1996 a lot of the conversations today have been around when does this go mainstream when is it accepted you know when how all these kind of themes that I've seen two or three other times there was a time where I went to search conferences where people were like onesearch gonna be accepted and then all the way back to the beginning when would the Internet itself be accepted for all the youngsters in here who are spending a disproportionate amount of time to justify blockchain or crypto I want to remind you that there was a time when the Internet itself was a fad the first conference I ever went to that looked like this i sat in a chamber of confort commerce event on a panel where literally old people made fun of me for 45 minutes because they laughed at the idea that people would buy wine on the internet and multiple people on the panel that I was on said that by the year 2000 the internet would not exist I really I really want to give a piece of advice from a old-timer and who's been through a couple of cycles of innovation if you spent as much energy that you spend on debating whether crypto or blockchain are going to succeed if you took that same energy and actually became a practitioner in the execution within your craft you would be much further along 100% to me debating who's gonna win a basketball game in the first quarter when the game is actually gonna end there's gonna be a score up there it's kind of silly in its nature so if I could leave you with anything from my perspective and there's a lot of interesting people speaking during this conference I I would highly recommend deploying a lot more patience you know whether you're right or they're right it's completely irrelevant it's gonna play out and then we'll all Monday Morning Quarterback a lot of times when people debate me and I can see that this is just a religious debate there is no conversation it's not a debate it's just an argument I often end with cool I'll see you in 2028 right there is no other conversation and so that's just one tidbit there's another tidbit 99% of the browsers and search engines that people made lots of money on in valuation in the mid-90s went out of business I think it's very important for people in this space to understand that it is likely that 90 to 98 percent of the currencies will not make it and so there's always moments in time where there's and what's so incredible over the spaces there's liquidation along the way unlike when I was investing in early-stage startups you invested and it was either feast or famine there was no liquidation along the way which is what has attracted a lot of the behavior in this space but I please I need people understand to me blockchain as the technology is a foregone conclusion but the currencies that are built on top of that have enormous volatility for all the people here that like to tell each other how they made a million bucks in 12 months from zero I want everybody know this is just my real life I have over 10,000 direct messages and emails in my inbox right now of people who maxed all their credit cards and bought Bitcoin a fifteen thousand right who are in deep fucking shit who are in massive depression and sadness so please understand that we're when we're in these spaces there's an enormous volatility and it's very fucking early like real early like real fucking early and I think that the lack of patience of proving you were right or needing to make 10 million bucks or whatever fuck is going through your mind is the vulnerability the lack of patience in this collective all of us here together all the fancy people in the back and all the people here our collective vulnerability is lack of patience and so I genuinely believe that if you're one of the two or three people here who can fundamentally change your path from the quick score because of the gold rush nature of the oxygen in the room to do you actually believe in blockchain do you believe a decentralization and start being meaningful I believed in social media in 2006 there was a lot of people who came and went in 2006 seven eight nine ten who had a lot of Twitter followers there's a substantial reason that I was able to see it all the way through and be in the space with the longevity because my behavior wasn't helter-skelter it wasn't my pants weren't on fire because I thought this social media thing would be gone tomorrow I am completely convinced and this is not a disrespectful comment I am completely convinced that more than half this room thinks that it's a quick score game and have no sense or even or educated enough to understand how this all plays out and I think within that is your opportunity because I will say this for the group that's here you have such a substantial advantage over 99% of people because you understand this is actually even happening the 99 percent of the people in the world understanding a blockchain or crypto is the word Bitcoin and that's where it starts and ends 99 in the of seven point seven billion people please do not underestimate the ability of you being somewhere early like you are however I just want people to take score of what's actually happening this weekend here and what's the opportunity at hand I think the other thing that I'm very passionate about is understanding the media landscape that we live in during this revolution several people I know here intimately there's others that I know from afar I think the one great opportunity for everybody here is to understand what this is actually all about right just understanding the foundation of us living in a mobile environment one thing that I think a lot of people need to understand is how to leverage the current mobile social environment in your crypto AR future technology world so if you really look at the history of people that have won or have had success with in new innovations they were able to leverage the current main innovation in a way to progress so many people here have been able to be successful in monetizing crypto currencies on the back of building personal brand and being given tokens in exchange for PR services or vlogging or things of that nature please understand we are absolutely in the eye of the storm of the golden era of social media right now we sit here while Instagram story ads are $2.00 CPMs and if have swipe up call to actions and it's so uncomfortably underpriced I don't even know what to do with myself I'm like pouring $100,000 a week and to act like I don't know I don't even know how to squeeze it any fucking harder so for a lot of people here so many of your ambitions are predicated on you communicating to the world please don't do what most people do which is they jump to the next thing before they squeezed the current thing one of the great mistakes in my career happened in 2007 I was literally one of the first people ever to produce a YouTube video that was longer than 5 minutes long literally I had the longest consistent long-form show on YouTube in 2006 and 7 but because of my impatience or because I chased economics a platform came along called viddler which was a YouTube competitor and offered me 7% of the company to move my show Wine Library TV to bid ler I did that because it seemed ridiculous 7% it seemed like a great deal but what I left on the table was my deep understanding that YouTube was right and all the attention and equity that I could have built over that time I believe that a lot of people here are getting so high on the supply of being right about crypto or blockchain that they're glossing over and thinking things like social and mobile are yesterday and we're gonna see another 7 to 10 year foundational run for those platforms so please be thoughtful in the way that you're mixing your energies and your executions I believe that the things that are current right now are absolutely foundational in your ability to extract value from them for what you're looking for to do a couple other things that I think are important you need to understand the human spirit in new technologies in 1996 I thought by the year 2000 every single person would come into my dad's liquor store with a cell phone and scan the barcodes and know the price of every wine in the country and so I literally lowered the price of every wine in my dad store to cost or the best price on the internet because what I didn't understand was how long it would take to be accepted online dating was in play for over a decade before it was culturally accepted I think a lot of people here are making bets on singularity an AR on VR on crypto on blockchain you understand it you're beginning to understand it and you're making decisions based on your belief that it will be accepted or at scale in 24 36 and 48 months no question that the thing that makes me different at 42 than I was at 24 is my understanding and how much slower new technologies are and how easy it is for us to get into the bubble of this conference and feel like everybody knows what the fuck you're talking about but just for fun tonight when you go to the casino or the strip club or whatever the fuck you do when you go talk to normal people about crypto pay attention that 99.9% of the people on the strip today have no idea what the fuck you just said knowing I don't have a lot of time I'm gonna say a couple other things that are a little more macro and then I'm sure we'll do a bunch of stuff in QA the most macro thing I can tell you is that self-awareness is fundamentally the most important shit I've ever seen in my life I am so addicted to this thought process if I could wish you anything besides health it would be self-awareness once you have self-awareness once you actually understand who you are so much crazy shit happens and so I'm unbelievably aware that you have ambitions I think all of us have versions of what we wish we were versus understanding what we actually are you know I would be thrilled to be the starting quarterback of the New York Jets that's not gonna happen but very early on in my life I was aware that I was more likely to buy the New York Jets than to play for them and what that allowed me to do is to triple down on my entrepreneurial spirit as a 10 11 13 year old you know if I could leave any legacy from this talk today it would be to get somebody to understand that maybe they're not a number one and they should do a start-up but there are number three and should support the fuck out of a great number one I always tell my entrepreneurial friends number 12 at Facebook made more than number one of 99.99999% of companies in the last 15 years if you can actually understand what you're about a lot of you shouldn't be blogging a lot of you shouldn't be investing and that is not a negative that's a positive and so I unbelievable want to start instilling things like self-awareness and patience because I can tell you one thing how many people here under 30 raise your hands I really wish you knew what it felt like to be 42 and I'm sure a lot of people here how many people over 40 what all of you know what I know is it's fucking crazy that 24 feels like 42 feels like 67 it's always there it's always there and if you actually knew how long you know one of the most fascinating things I'm paying attention to is our inability to understand how long our fucking life is the amount of people that go into crisis at 18 22 and 30 in our society is laughable and so please understand that for me the biggest thing that I could have delivered this evening in this talk is putting the timeframe of blockchain and crypto into perspective I will also say one other very macro thing that I think is super important for me as you navigate how you're gonna bet your life in this world if you actually understand blockchain if you actually understand the framework of what we're talking about here not what lit coins gonna be in fucking seven months no the actual framework of what blockchain means the thing that I have not been able to really get my head around that I'd be fascinating and feel free to DM me and talk to me about it is I hope we all can accept the following statement as truth if you actually understand blockchain it's really hard to wrap your head around how Russia China and America are gonna accept and allow this to happen I think it's very important for everyone to actually understand this if you actually understand what blockchain does it takes away all the leverage that the countries in our world have outside of their atomic bombs and their armies it is a substantially a platform it is a revolutionary 2.0 of all the things that enter the Internet my friends has fundamentally started to drastically impact our culture because it's taken the middle and giving it back to us all the political not just the voting the things we talk about whether it's me – or black lives matter or anything else that's even secondary to those true issues I hope everybody understands that all our shortcomings as human beings have been protected by the media infrastructures of the last hundred years and are losing their leverage which is why we're having different conversations and making progress blockchain takes that shit to a whole fucking another place which is why it's actually far more vulnerable than I think this room understands in parallel while we think about decentralization I hope you understand what's happening across the world at a country level because we're living through the growth of nationalism right if you think America is putting up walls with tariffs and actual debating walls go look at what's happening at in India right now go look at what's happening across the world we are now more than ever over the last seventy years seeing countries build internal mental walls which are in complete conflict with something that looks like blockchain this is a very very big deal one that is often not respected by people that are enthusiasts of macro new trends let me give you the comp that will make sense to you when Instagram copied the feature of snapchat stories and pretty much pulled off a pretty substantial punch in the fucking face to snapchat it created everybody in the social media world to understand that you better not build a feature because the ability of an incumbent like Facebook Apple or something of its ilk to copy that and stop you from growing is a very big deal if you look at what's happening with the SCOOTER movement a lot of the cities and states are not going to get tricked this time the way they did with uber the Internet has really fucked up the status quo the people that have leverage are not just gonna sit with their fucking hands on their ass and let blockchain do a 2.0 version of that please understand that if you believe in nirvana of complete and utter blockchain at scale that you're talking about substantial world war three fucking dynamics and so while everybody's walking around and thinking about short-term economics and the quick scores they're making on the currency that's built on top of these frameworks and the flip they made to change their short-term lives which is phenomenal and inspiring and super fucking cool I hope that there's certain people in here that are starting to deploy five ten and 20 year windows because if you are and you're thoughtful about it the economics but more importantly the legacy that you can leave becomes remarkable and I promise you for anybody in here who's made a dollar or two in their lives very quickly money stops mattering and other shit starts taking over so it's really fuckin cool you made a million bucks on some bullshit cryptocurrency I don't give a fuck what I care about is you're actually here which means you are fundamentally Oh point zero zero zero zero one percent ahead of society in your opportunity I hope that you give the meaningful thought process and strategy against this advantage you have because when I saw people have it with social and when I saw people have it with email and with search and with the Internet itself 99.9% of them fucking blew it because they were going for the short-term score because they didn't respect in the macro opportunity you have one life do something with it thank you thank you thank you

50 thoughts on “The Future of Blockchain and Cryptocurrencies | Keynote at ChainXChange | Las Vegas, 2018”

  1. If your not buying Crypto right now your going to regret it! IBM using stellar (xlm) blockchain, JP Morgan creating a stable coin!!!! its coming around

  2. 15:15 Russia, China, and the US are going to do exactly what they need to stay relevant. The progress that has been made in the ecosystem in the past ten years pales in comparison to the past 12 months.

  3. This video really hit me. I've been spending most of my days trading and researching about cryptocurrencies and I realise that it doesnt matter at all. He made me realise that cryptocurrencies, although incredible technology, has a looooong way to go, and by the time it 'comes' the centralized government running the show wouldn't allow it to integrate that easily as it will take away their power. He also made me realised that rather than wasting my days thinking about the new crypto rush, I could use my time more effectively towards things that matter in my life, whether it be my career, family, health and so forth. SO I thank you Gary vee for your wisdom.

  4. He's an interesting Guy however I'm turned off by the groupies in the audience who instead of sitting still and absorbing ,are there clicking their cameras as if they were in st peters square. And then there's the moving shimmering back drop. Why is all that needed. I just wonder why he's attracting those types or endorsing the stage back ground.

  5. Patience is the key to lose everything and remain calm watching all your money goes by . . . At least in a crazy and unregolated market like cryptocurrencies.
    Excellent advice GaryVee ! The quote is: Stay Hungry, Stay Foolish . . . But 1 out of 100000 fool person make history, the others die young and poor, welcome to the curious branch of mathematics called "STATISTICS" Mr Vee

  6. Point 1: He is not looking for short term gains because he is a currently already a millionaire. Its like telling someone who is starving to slow down and chew their food and savor it, when you have a full belly. Point 2. He uses the word Fuck way too fuckin' much. lol

  7. Gary what do you think about ONE COIN ? There’s a lot of people talking about it here in Colombia, I personally think it’s a huge scam! Thanks ??

  8. Loved the video like always Gary! If anyone is interested in learning more about Blockchain subscribe to my channel ?! Posting weekly videos and always open to posting anything you want to hear.

  9. My first experience with cryptocurrency was about a year ago when i bought 1btc after being advised by a friend who hodls coins. I was so excited about it especially with the growth in value which prompted me to buy 4 more btc and then i got the shocker of my life when value floored and i sold at a great loss. I was forced to see bitcoin as a well crafted fraud and wanted nothing to do with it ever again until same person introduced me to crypto genius. He gave me a fundamental breakdown of bitcoin, how to choose a great broker, and what a profitable trade entails. He also introduced me to his trading strategy and gave me trade signals. Within my first month trading with him, i was able to grow 5.1 btc to 11 and i can't keep this to myself as i now know how easy it is to amass wealth trading with the right person and advice. You can reach Trade Lagend by mail { suredailyearnings @ gmail } or SKYPE { suredailyearnings @ gmail }

  10. Sorry, stupid question here ? help me here please… so is he saying Bitcoin, Crypto, etc. is a Good thing or a Bad thing???

  11. I am soooooo tired of hearing Gary V’s story over and over again… respect but how about you put the Viddle sob story to rest, dude!

  12. That's a good perspective he shares here. Wisdom spreading here. Crypto is a gamechanger. It will change the old financial systems into something new and refreshing. Be patient people. It will come but just be patient. Invest like your a 90 year old person. Shorterm thinking won't win, longterm thinking wins.

  13. Why would you tell people to miss out on such a rare liquidation? That's enormously selfish on your part let alone sinister for a lack of better word. You said yourself you needed to make 100k before you put that financial side to bed. If anything that shows a lack of compassion on your part. So you see the hypocrisy there on your end (as if though anyone is going to listen to what it is you're saying, people are going to do what they are going to do. You said yourself you are not familiar much in depth in this space especially when you talked as if people who are educated in this space are investing in btc now when in reality it's heavily researched at coins. But honestly, this is just another example proving you don't know what you are ultimately talking about here and worse being obviously hypocritical and spewing inaccurate information. Just like how you missed out on uber, made poor investment decisions that hindered what your net worth would of been, subtle self sabotage, admitting you coddle your kids too much because you don't want them to be anywhere near as successful as you (this is what you admitted in your vlog, shall I email you the video?) and too many other blatantly obvious disturbing fear intended behaviors about needing to be on top to the point where you limit your own family. If you could do that to your own kids and admit it on top of that, then it's no question your fear and false spewing on these matters that have been proven accurate regardless of how convinced you are when you say them.. are nothing be a deep rooted self sabotage and delay for yourself your family and others and a delusment all throughout the fasad and the backwards legacy narrative that is your life but only fueled by your admitted inherent manipulation that is coming to light day by day

  14. Remember you were wrong about uber and pokemon go? 18 month major gains are real given the time in history. Trend will always reveal

  15. Are searchinging for the best Blockchain develpment company? Here i have experienced one of the best Blockchain development company Bitdeal ( who provides the highly secured Blockchain Applications…!

  16. Buy Litecoin

    Invest wisely, don’t gamble with your future

    Not everyone can afford the prices of all Cryptos now but Litecoin is a wise choice for those with a lower capital

  17. I believe in the blockchain! I can't wait for 2028! I'm long term in this and I receive trade signals to tell me when to buy and sell. It's easy to profit off the current volatility.

  18. I am this space for a couple of years now, sold 90% of my crypto's and helped out homeless people and refugees here in Belgium. Greed is the motherfucker that kills everything. In 2014 – 15 – 16 no one gave a shit about Bitcoin. Price went Up and Greed kicked in ?
    Most people who own Bitcoin for the get-quick-rich-scheme did not even took a glimps at Satoshi's White paper, if they did then they would realize that it ain't about driving a lambo but it's about disrupting the fuckers who have total controle about our money, stripping the elite away from a power they should not have!
    Goldman Sachs – Abacus – 2008 – No One went to jail! Banksters!

    I am in this space to honor Satoshi's nobel cause, building a better future for the future generations!

    The Industrial revolution created new models for us to organize, new models for us to collaborate …and the primary model of the industrialized revolution is the bureaucratic hierarchy.

    The organisation – The Institution – The Corporation…

    A Pyramid scheme, where actions are made at the bottom and decisions are made at the top.

    Information must flow up and be concentraded, but there is a problem with this scheme and the problem is that Power also flows up and is concentrated… and in some point once you make the organisation big enough the person making the decision or the people making the decisions have TO MUCH POWER and not enough information.

    They are far away from the places decions are acted on and they can not see the consequenses of those decisions.

    Power Corrupt, the more you have the more it corrupts.

    And now the orginastions brought us to the globalization, to the internet and all the amazing things we build as a civilization,

    the fundemental units that help us decide, that help us collaborate, that help us organize are failing to scale.

    We can not make decisions on a Global Scale about simple things or about important things.

    We can not solve the problems like poverty or climate change.

    But we do have enough money, the reason whe cant is because our fundemental orginisational unit is failing to scale to the demands of a Global Planet!

    How do we fix this?

    On January third 2009 Satoshi Nakamoto invented Bitcoin.

    And most people think this invention was about money.

    But it wasn’t…it was fundamentally about TRUST, you see the Internet has giving us this fantastic opportunity to be able to scale communication to a global level.

    We can now communicate effectively at numbers of Billions of people around the world, without barriers, without borders…blind to nationality – Wealth – Rase – religion – age and etc…

    And yet, many important things on the internet are centralised, they still have the fundemental construct of a bureaucratic – hierarchy… coprorations that require decision making at the top of unelected leaders who decide on the social structure and rules of our most important applications and functions and yet they are far distant from the users they serve.

    Organizations like Facebook and Google, but some many others to.

    The Internet has scaled communication but it can not scale decision-making and the reason for that is TRUST…

    We do not have a platform to scale trust…

    We do not have a platform that allows us to create trusted decision making without hierarchy…

    Untill January third 2009

    Cause Once you understand what Blockchain Technology does, you understand that this is not about currency, currency is just the most obvious application.

    Once you can build a completely flat a non-hierarchical Peer to Peer Network that allows you for the very first time to take trust and move it from being a system of institutions – bureaucracies and hierarchies into becoming a protocol a flat network that allows you to engage in trusted interactions with others without a intermediary, without a corporation, without a hierarchy and we can make this technology scale so we can now have trusted decisions, governance, social decision making on a MASSIVE SCALE without giving power to the few, without creating these hierachical organizations that has managed to get us this far but can not get us any further.

    This model of trust is gradually seeping into the conciousness of the World, people are beginning to realise that we can do a lot more then just currency with this technology.

    We can build voting systems, we can re-imagine the corporation itself, create add hawk associations that come together that create new projects and applications without leaders… in this system of trust there are rules and these rules are very easy to determine and very predictable in their outcomes, but their are no rulers…and we never before in history had a system of rules without rulers.

    And what happends when this technology is unleashed on the world?

    The World government’s rise up and Say… Thank you this is the solution we’ve been looking for, we no longer need to make hierarchical decisions, finally we can scale.
    "No…they say, this will only be used by criminals, pornographers, ransom wear, it subverts the state…we can not allow it, we must regulate against it, who gave you permission to do this?
    You didn’t ask…the regulator, you didn’t ask the parlement, to organize on a massive global scale…"

    Nope, we did not ask for permission and yet here it is… it’s happening on a massive scale and it’s growing exponentially.
    And it will shake the World to it’s foundations because it is a system of social organization that delivers equality as a feature AND WORKS at massive scale.

    Almost every important innovation in history started out being illegal or unregulated…all of the interesting things that happends in technology where started by people who FORGOT to ask for permission, because the regulations them selves, the laws them selves are written by hierarchical institutions to serve the incompent corporations that need those laws to protect them selves from competition.

    The Model that we are disrupting is NOT FINANCE …it is hierarchy and the rules were written by hierarchy and of course these systems brake those rules.

    Well Guess what?

    Skype was illegal, and they did it anyway, Uber was illegal, and they did it anyway, Air-B&B was illegal and they did it anyway.

    Dear Start Up founders, when we wanna build a better future for the future generations, we need to be bold…we need to be brave, brake a few rules …

    Don’t do criminal things, think of morality first and rules second.

    Brake the mold, don’t ask for permission, innovate faster then they can write the rules, create the next world…the One you want your Children to Live in… one that is Free from hierarchy, one that allows you to collaborate across the world Peer to Peer, which means Person to Person.



    Thnx Gary! Great Talk! Totaly with you!



  19. You inspire us! Shout my channel out and help us change the world and make an impact and give back to as many ppl as possible. We be there for you all! Channel is Ryan&Kins

  20. APOLLO just launched and is going to rise in the next couple years! I invested early. Plus Apollo is endorsed by McAfee

  21. Great speech, Gary. Smart marketers indeed make the most of all media channels to promote the next new thing. It's always been like that. Smart pioneering radio marketers ran ads in newspapers. Smart early TV ad men ran ads on radio. Smart first gen internet marketers ran ads on TV. Smart early Social Media Marketers ran ads on old school Internet websites and email lists. And now smart early crypto marketers are running ads and marketing campaigns on social media and other internet channels. And speaking of marketing, here's my version of how to make market multipliers for any marketplace, be it in crypto or whatever you're marketing.

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