This week in Bitcoin- 8-9-2019- Tone Vays talks markets, gold, IRS, Litecoin, halvings, dollar, ETH


Hello everyone this is Adam Meister the
bitcoinmeister the disrupt meister welcome to this week in bitcoin today is
August the 9th 2019 strong hand be a unique beast Valliere wealth in bitcoin
i’m confiscated but one bitcoin he was one big one offended by selling don’t
throw mohan all coins holder of last resort robbers are cryptocurrency always
been a bitcoin was it always bet on black bitcoin is the index pressure i
had to say all those crazy sayings because this is a time to celebrate tone
veins has entered the building oh yeah he is back on the show it’s been
a little while but the time has come so tone welcome back man I don’t know
thanks for having me not gonna show you it show hasn’t changed that’s pretty
cool it’s been a same for years dude I I’m very focused long-term thinking I’ve
got conviction and you know you haven’t changed either really in what you stand
for you never changed I know but I’m talking about the inside I know you got
the Mohawk and people bug you about the hair it’s so ridiculous people know more
about your hair then about how to hold a Bitcoin properly I mean that’s and we’re
going to talk about the social media aspects of the space but from the time I
started listening to you and I met you in 2015
you’ve stayed it’s just been you it’s about Bitcoin keep it simple yet we’ve
had so much temptation over time no it hasn’t been tempting to me or you but
the icy off man is I remember you say Adam you got to start going out to these
events man off all these people are talking about a theory of now because
you and I can remember the time when there was no aetherium there would just
be big credit and it all said he switched remit was everyone was talking
about the flippity how aetherium was gonna like overtake bitcoin and now
they’re using bitcoin cash to scale I mean it’s insane
yeah I mean we’ve seen every story we’ve seen ever
gimmick and there’s so many new people that have no idea about these things I
mean you were classic when remember when etherium classic was born back in the
day I mean you were very outspoken then captain half these people most these
people had no idea about the theorem classic birth story and what that really
means for a cryptocurrency and you know rolling back time and having bailouts
most people who buy all coins don’t care about bailouts so but let’s speak on
it’s always good to talk about history I’m sure long-term viewers love that
soak on that like button everybody but let’s talk about a current event China
trade war everybody panicked at the beginning of the week Oh
let’s roll into Bitcoin this is going to help Bitcoin then we had India and New
Zealand and it was the other country Thailand lowering rates bigger bigger
question here all these gold bugs all these do MERS have dreamed of the end of
fiat the end of the system this is the end of the system time is the system is
the dollar dominated system is it going away anytime soon
I really don’t think so I mean the dollar is still doing okay the dollar is
still very strong relative to other currencies and yeah the stock market had
a bad couple of days but this week has actually held up fairly well and
everyone always screams you know Oh gloom and doom for the stock market but
I think the Fiat system is still gonna be around for a little while and son got
all the starting to rise that’s kind of interesting probably has something to do
with a lot of these global currencies you know printing more money people
slightly losing faith in a lot of these fiat currencies but it’s still gonna be
around for a while remember people don’t really FOMO in
until new all-time highs like this is not it I mean gold would need to
literally break the all-time high of 2000 and then at least double a price
right so we’re not gonna see you know big FOMO out of the Fiat system
and into gold and crashing the stock market until you know it really starts
to move and then there is another issue a lot of people are not just like a car
oh that’s on my side of your side Oh Donna so this topic is an animal if a
stock market starts to crash then people lose jobs come from water business and
they only have one life to a custom crazy things now I got a question here
though so does this Bitcoin care about all this just is this going to help
Bitcoin do you see these moves by the the major economies and the fear that
maybe this is the beginning of the end will it help Bitcoin but doesn’t even
does really Bitcoin even need this can make we be a success on its own as a
security truth machine it could be but I do this is helping a Bitcoin as
unfortunate as it is like beatnik on right now Hong Kong has been a really
good like money heaven right like they almost parallax like money launcher Hong
Kong is like capitalistic economic freedom area and I mean here are these
freaking islands but not actually lives there right like I wanna go in there to
actually put off there there it’s not and so it’s like that or relevant so I
think it’s helping Bitcoin the fact that if there is a huge economic crash if
there was a major like another 2008 that’s gonna hurt Bitcoin and this is
what’s hard for people to kind of comprehend you want these like
you don’t actually want an economic panic you want people to be scared of an
economic panic but not to actually panic because when Greece goes down when
Cyprus goes down people have no access to their money and when you have no
access to their money you have no ability to buy and speculate on Bitcoin
but if you have Bitcoin alright now this needs there for a second but when you
have Bitcoin and there is major economic panic you have to spend that Bitcoin to
kind of feed your family so you don’t want a giant economic panic you don’t
want the stock market to crash like in 2008 you want people to be scared that
it might crash and that helps Bitcoin a lot hmm so hey that makes sense there
who would really want a major economic collapse what do you think about the
people who’d your dream of this I mean they’re all blowing doors that have to
sell their newsletters that the market is going to crash right here you’ve been
talking about that for a long time you’ve heard what was that word you like
to use ah was it like doom porn or something yes yes yes dude corners the
shemitah the people who talk about the shemitah yes exactly exactly they have
to come up with these you know gloom and doom scenarios to sell their newsletters
and this is one of the reasons why I’m not a big fan of you know anyone that
like sells these kinds of newsletters and that’s why I always try to focus on
if I’m gonna charge for anything I’m gonna charge for education I’m gonna
charge to teach you I’m how to trade yourself so you don’t have to pay for
any more subscriptions now with the current state of Bitcoin price has gone
up obviously so people are buying it who is buying it though who’s really buying
and holding it I don’t think from what I can tell it’s actually a lot of
individuals go into coin base and buying a bunch of it and then hoarding it do
you think there are large corporate entities that are getting into it now
quietly who are that the new holders or who are the current I and holders out
there I’m very skeptical on this concept that Wall Street is
getting in I’m a little skeptical on that there’s still lots of regulatory
concerns there’s still lots of custody concerns
there’s still fear of all the stuff getting tagged I don’t see mass entries
of noobs coming in and I think you see that right I mean we’re not really
getting all that many new followers on our youtubes on our Twitter I mean you
have someone like pump that’s getting like a lot of new followers but that’s
because he literally just comes Bitcoin just just thought you know it just sucks
positively about it but it’s not like it was it’s a thousand even early 2017 and
late 2016 when if you were a youtuber in the crypto space you’re getting you know
a thousand five thousand new subscribers a day basically at one point so I don’t
see this mass entries of people now if Bitcoin goes to new all-time highs and
it’s all over the news wires again maybe that can happen so the question is
where’s all this buying coming from and it looks like it’s the same old money
it’s just the people what happens in market whenever one markets crash people
always want to blame some big short seller right I mean that’s what happens
in traditional markets that’s what kind of in Bitcoin it’s a little more likely
because you can smash the order book and then when when prices go up people are
like oh somebody is buying that’s not always how it works in the stock market
most of the time what markets have this ridiculous crash it has zero to do with
short selling it just has to do with the fact that other traders and other
investors see the stock market going down and they’re just they remove their
bids they removed their buys off the market and they just say I’ll wait and
when there isn’t nobody buying it doesn’t take much selling to have the
price crash it has nothing to do with short selling again gloom and doom errs
blaming whatever they can in order to be popular it’s the opposite on the way up
sometimes the reason for the rise in prices is not necessary
because all these buyers are coming in it’s because people that currently hold
the asset whether it’s Bitcoin or something else are saying well prices
are rising I’m not really in a I don’t really have a huge need to sell and
here’s one more reason for it like the tax authorities and are really starting
to crack down at least that’s the kind of fear I mean there was that big IRS
horrible presentation that was leave I’m sure you saw that right yes and um when
something like that happens some people are like you know what maybe I should
wait for some more clarity maybe I should you know look into other
passports because this is gonna be interesting right because many people
well myself included we’re looking into you know other passports and hey you
know what let’s see what happens there so some people are probably saying to
themselves you know what I’ll wait like yourself like I’m gonna
have a strong hand people are getting out of these old coins they’re getting
into Bitcoin they wanna you know sit on Bitcoin they they’ve already you know
held their old coin bags for like two years they most a bunch of money and now
that I qualify wait two more years in Bitcoin maybe I’ll make up for those
losses so one of the reasons for the prices going up may have nothing to do
with new people coming in it may also have to do with the current people
willing to wait and not selling yet so there isn’t as much selling going on
same thing with miners a lot of miners are probably holding onto their coins a
little bit longer while they’re mining twelve and a half bitcoins a block
because they know that in the near future they’re mining rewards that you
couldn’t have so in order to being tane clean operations they’re selling less
coins now and will probably sell more coins after the halving because they’ll
have to maintain they are a business levels so there are all these reasons as
to why the current holders aren’t currently in a rush to sell and and the
other potential reason is like single rich individuals and by individuals I
mean like like not um mass kid but let’s say maybe rich families in
the Middle East are starting to get a little bit interested you know like like
these private individual rich people are potentially becoming a little more
interested now now that it’s a little more secure and now that they’ve been
looking at it for the last five years now you mentioned your famous miners
having scenario you’ve actually been talking about that scenario since before
the 2016 having in all your video you can look it up you would you would tell
people this is what is going on the miners of course if I you said I’m a
business owner you you’re saved before a change like
this and they’ve saved up there they stopped selling as much Bitcoin before
they having they started hoarding before the halving and then so they would have
enough afterwards when they had less supply so you just discussed that again
again you have a generator we stick with our conviction here but on all the topic
of the having um there’s the argument online is it priced in isn’t is it not
priced in I say it is not priced in because this market the entire
cryptocurrency market is filled with irrational people with people who
attribute value to bsv I mean how can you say in such a market that the
knowledge is out there that there is even something called the Bitcoin having
and that it’s priced in so what’s your take on is it priced in the Bitcoin yet
I mean it’s it’s always priced in a little bit but it could always get re
priced right we’re still like nine months out and again we can pump before
they’re having because of the having but if it pumps way too early we can also
have a dip going into the having and then it depends on how big does dip is
uh that’s the last having I actually predicted it almost perfectly I
anticipated the pump to start about six months before the halving and it did and
then it popped out like three weeks prior and it already started to fall and
after the having it continued to fall we kind of just saw litecoin go through the
same thing it pumped you know several months be
for the having and then going into the having it was already going down the
having came it pumped a little bit that day but it was already down and took
away all those games within the next day so and now the big thing is having how
Bitcoin and having to destroy old coins because like no one is gonna mine your
old coin when there’s no reward and no one is actually using it for
transactions so what are you gonna do you don’t have these strong hands
holding the old coins they are going to fold and this is a big problem for old
coins because old coins are already designed as inflation on top of Bitcoin
in an insecure way and anyone that’s an old coin holder I mean all they gotta do
is change their profile picture because they’re anonymous trolls anyway and no
one knows right there there’s very very few people that put their name and face
to be in an old coin er because they know that they will need to disappear
soon and they have to be able to switch that identity and as if it’s an
anonymous identity it doesn’t matter so there’s nobody in the oval coin space
that is that committed to their old coin and the miners are the same way like
there’s no liner that’s committed I like like who is doing new research and
development on an old coin mine right so like nobody like who’s gonna come out
with a new light coin mining ASIC you know who’s gonna do that who’s gonna put
it back kind of body into the work but let’s talk about specifically like coin
because over the years both of us we’ve encountered people with lots of good
intention that contact us and say why don’t you talk about like coin it’s the
silver to bitcoins gold bits they say and Charlie Lee is so nice and again
these are good there are actually you know the ripple people I don’t even know
if they exist I’ve never met a real ripple person in the boiler you got my
huh you know how I okay so I mean that but you like when people definitely had
met Dan definitely they seem to have this mindset of I’m I’m from the
traditional markets I need to diversify for the sake of diversification
basically that’s their basic premise even not and again they’re nice people
I don’t sometimes I feel like I’m about to explode when I get questions about
like Queenie how do you handle this what is the future of litecoin in a nice way
I mean what can you tell these people what with it what should they do with
their life point out what is the future what do you see like point becoming and
what if what it was what about diversification for the sake of
diversification though I explained that I’m that light coin is the silver to
bitcoins gold and I send them to read the Bitcoin standard where sayfudine
explains how silver no longer has any monetary value and that’s what happens
like that the ultimate price of silver would be like copper it’s gonna be it’s
industrial properties and that’s where it ends because with technology once
gold was able to scale to micro payments it was over for silver as a monetary
asset gold is now going up you know like silver is also going up a little bit
faster but the ratio of you know the value of silver to gold has hit a
hundred acts like gold was at a hundred X the value of silver probably like an
all-time high and that ratio is gonna continue to rise
I’m just try to explain to people that you are just inflation on top of Bitcoin
you’re making a bet that lightning will not scale Bitcoin that is the bet that
the litecoin people are making and it’s a very dangerous bet you’re basically
betting against the smartest programmers in the world that they’re not going to
achieve what is currently growing exponentially in size already like it’s
a dangerous bet you know there’s always an outlier right there is always an
Einstein you know there’s always a Steve Jobs and Anna Zuckerberg and Bill Gates
you know these people that dropped out of high school and college and went
against you know the the consensus of other smart people and they achieved
something but like these people are like one out of a billion right there they’re
not like like just because you dropped Highschool doesn’t mean you’re going to
be Bill Gates right but there is a bill gays who dropped out of high school like
it doesn’t necessarily work in Reverse and you’re basically making a bet
against the smartest people in the world and I want to know why you think that’s
gonna happen right like if your cousin drops out of high school it doesn’t mean
that he’s going to be the next Steve Jobs I’m sorry that’s not how it works
and this is the bet that the litecoin people made and they’re going to realize
that this is a very dangerous bet and if they’re holding their life savings and
litecoin it’ll be a very expensive lesson for them and they’re learning it
I think a lot of these old coins are I mean they’re a little oversold for the
short term so they can certainly bounce a little bit but at the next you know
drop that’s it they’re gonna go to like four or five year lows as Bitcoin
potentially hitting all-time highs and that’s when they organ amass exit
because no eventually give up what one quick thing but first of all you said
it’s a losers bet to bet on litecoin and as one of my slogan says always bet on
Bitcoin but there are some fine at large financial organizations that are going
to get into the cryptocurrency space in theory and create all sorts of
complicated funds with Bitcoin from I mean when I talked to Caitlyn long
she said she’s expected for some of the top tier aqua wings to be bought up also
could this save some of them could could uh funds be created diversified funds
that include aetherium and litecoin also and this could kind of negate your
scenario no this is where people get confused you know like this is like
smart money isn’t necessarily smart money they make a lot of dumb decisions
and don’t I don’t assume everyone on Wall Street you know
yes perpetually rich it’s actually very very difficult and a lot of these funds
lose money like your average hedge fund is going to fail right and people that
are gonna make those bets they’re they’re gonna be in a little bit of
trouble and I don’t think so I think that they’re
gonna be seeing through it I mean they do look at you know how its performing
and again where is the research and development where are the coders like I
can name what a dozen probably 20-plus Bitcoin core developers and uh who do
you name like look into your old coin go name some of these developers you really
care you know you’ll come up with like what one or two
names maybe and uh like who’s doing it and you know if they’re still working on it
right like I know I see ways just just you know looking at the entire
cryptocurrency space I see ways of altcoins to come up with
all sorts of gimmicks to stretch things out as long as possible those people
don’t know the basics behind Bitcoin so they’re always going to want to own the
next Bitcoin they don’t realize that bitcoin is next Bitcoin
I’m not saying hey you know me I am NOT saying for people to diversify and all
please do not buy all points do not take this as we say but I think some of them
will be able to stretch it out for a while I mean let’s let’s let’s go into
the future here we’re we just had the 2024 having will all coins still be a
thing after the 2024 Bitcoin tab I mean there might be some new ones but I think
the correct I think the cur wasn’t gonna be done there might be some new ones
right it was uh again I have to give credit to Giacomo Zuko on this one and
he gave me a different perspective on a lot of these old coins like new computer
science cryptography and new computer science ideas come out all the time like
every six months like another innovation and computer science occurs but before
Bitcoin these more just interesting elements of computer science right so
someone invented PGP you know like PGP encryption stands for pretty good price
right ah well I got all of these computer science techniques come out all
the time but oh she found a way to create Bitcoin and
as money and from that day what happened was every new computer science thing
whether its member Wimble Orman arrows ring signatures or ZK snarks you know ZK
snarks or ring signatures wow that’s an interesting way of using encryption and
computer science and prior to Bitcoin this would have been just an interesting
way of doing computer science but now because of Satoshi you’re like I will
make money out of this I’m gonna monetize this line of code and somehow
by magic this will be the new world money that’s not how it works
so Satoshi created Bitcoin not because it was you know it’s secure enough it’s
fast enough it’s a decent was decentralized enough it grew organically
to be money and he actually saw that coming but that doesn’t mean that every
new line of code of innovation and computer science now gets to be its own
money but this is how these people get to monetize their lives like Zeki snarks
was just going to be an interesting form of encryption that somebody may be using
in their projects and then you have someone like Zuko come along and says I
want to be a millionaire on Zeki start and I will make money out of it and you
gonna and I’m gonna collect 20% of the mining reward and now he’s trying to
come up with another fun and it’s just totally ridiculous right it’s all of
these old coins it’s just a way for one guy to monetize a line of code and and
and it’s a race to whoever does it first right when someone releases nimble
Wimble a new way of doing secure computer science it’s like alright who’s
gonna write the white paper first who’s gonna try to monetize it who’s gonna try
to get paid for the off of this line of code
and it’s never gonna money it’s never gonna get wide adoption
it’s totally irrelevant no one cares except you know the bag
holders that buy into it that also want to get rich and eventually all this will
fall apart because it just doesn’t make any logical sense it is it is amazing
there that Bitcoin created this new paradigm that allow such things to
happen people who are computer scientists with cool ideas able to
monetize their their interesting experiments thanks to Bitcoin I mean
that’s that’s what I get I believe personal responsibility personal
responsibilities new counterculture the reason all the info is out there if
people want to yell and scream on Twitter and get into like into emotional
arguments and learn nothing from Twitter then hey they’re gonna make mistakes
they’re going to buy into ridiculous off points if they use Twitter as an
educational tool they’re gonna learn about Bitcoin and then they’ll get the
Bitcoin so it’s it’s the free market here people want to make all coins I say
go make all coins the information is out there if you if you want just to see
fancy sets and graphics and not learn anything then you’re not gonna learn
anything and you’ll fall into these traps you you’ve always you’ve tried to
warn people for it for a very long time town you’ve called you’ve caught a
theory I’m I can remember watching the show like when I was in Australia in
January of night of 2016 you’re just ripping on a theory I’m that’ll never be
more add I mean you said a lot of things in that but you you cut it from us a
scam from the very beginning I think that word is very harsh but I say just
let people let people learn on their own I mean you can only say it so many times
you know say it once and but uh I mean you’ve gone on Crusades against these
things I think it’s I think at times it’s not a great use of of everyone’s
time and and with the word scam I think it’s I think the word scam is just lost
all meaning at this point what do you think about that are you still fan of uh
I know it kind of has a little bit which is good because now I call everything a
scam and some of these old coins are sending me like cease and desist letters
and I’m like nope I call everything a scam that doesn’t work for you so I was
able to use it a reverse yes well going going back to the theorem thing you’re
still predicting a doom for them yes oh yeah atheria was so screwed
they let me take it to marketing I mean they’ve got a marketing machine they
created i SEOs that got something they can always fall back on people can
believe is that they’ll be able to build something on top of it that’ll be
comparable to I SEOs in terms of getting people hyped up I mean they had this
centralized figure which has been turned into like a messiah like me I think it
can be stressed out for a long time but it could be it could be it could be
stretched out but they have so much competition now right you have Kurd a
know you have tron you have your ass all this competition and then the biggest
competition is going to be the bitcoins liquid side chain which can also do
pretty much everything atheria we can do and a lot of projects like the a there
is a lot less ice TOS coming out on top of a theorem for two reasons one it’s a
regulatory concern too people are realizing that they can’t get you know
all of these people to buy into their ICO so it’s not that worth it and see
they have other platforms to choose from right and that’s another thing like
Bitcoin has no competition and what it does but aetherium has lots of
competition and what it does so yes as long as they’re creating their own money
and paying themselves it’s great they can still do marketing they can still do
all this tech but eventually that’s gonna end right as the price of material
continues to fall not only against Bitcoin but against the US dollar
eventually you have no money to do all that stuff I mean look at D cash look at
Bitcoin calm in the last six months they haven’t been sponsoring anything not
like I you you’re I don’t know how many conferences you go to this time around
but they used to sponsor you know like an event in Mexico by someone that made
up the shmita or whatever a lot I mean they used to sponsored the blockchain
cruises they weren’t there was a nobody on this last blockchain cruise these who
sponsor a lot I heard they’ve fired their whole marketing team like
eventually you run out of money to promote this stuff right I mean yeah you
spend money on promotion of you are or service or business as long as it’s
bringing in money but there’s only so much promotion you can do for a be cash
which has lost money which is cheaper now than it was on its opening day
August first two years ago right like like eventually you know how many Billy
how much billions of dollars have they spent on be cash and the value of the
cash today is less than when it was created well how about this one gimmick
that you alluded to beforehand and this is something that could revive some of
these altcoins the etherium one use be cash for empty
space or extra space or whatever they wanted to do the partnership of all
coins the merging of all coins you see and maybe not technically merging but
like marketing partnerships I see this as a future here I see because again
you’re right there are certain ones or so centralized they’ve lost a lot of
money I mean I see I see ways of them stretching this out a really long time
of course this is another reason why they’re making partnerships they want to
be relevant again don’t want to be in the news again and again they’re gonna
absorb each other they’re gonna eat each other and eventually they’re all gonna
start merged mining with Bitcoin like the only old coins that could be
considered borderline secure and not get destroyed by you know someone with
better coding skills and and some extra money to burn
they’ll have to merge mine with Bitcoin but those that started more merge mining
with Bitcoin have been the secure ones it’s probably really hard to focus on
attack tiles let’s talk real quickly mission goal before is Bitcoin living
Gold’s dream and what is your advice to gold bugs my advice to go wants us to
seriously think about the value proposition of Bitcoin because Bitcoin
can out-compete gold yes bitcoin is dependent on the internet
but gold has a major problem how do you transact in gold you need a centralized
entity like you can transact in gold without a centralized entity and unless
you think that governments are just gonna
appear overnight that centralized entity is going to be the government and while
this was the best option you know prior to Bitcoin you didn’t really have a
choice but now you have something that it scares just like gold but it has
these properties of not needing a centrist government middleman to
transact and I don’t understand why more gold bugs can’t see why this is so so
important the uncomf– escape ability feature so so important
censorship resistance is that you know the removal essential entity I mean
that’s the really really important stuff and you try to really explain it to
someone like Peter Schiff and they just don’t want to listen perhaps it’s
because they’re just too invested in their gold companies right like some of
the gold bugs they just need to be a little more like step back a little bit
from their personal investments in it yeah that’s that’s good advice for the
the gold bugs out there all right we’re getting close to the end the show here’s
some fun topics Adam Cal Mackey did you know that guy the boxer there’s a Polish
boxer from New York have you heard about it I mean you’re from New York I would I
used to follow the boxing scene a lot but there was one fight that kind of so
pissed me off that I don’t look that I pretty much stopped watching boxing so
those of you know boxing fans when I watched Pacquiao lose a decision to
Timothy Bradley jr. I never wanted to watch boxing again I thought that was
like one of the worst boxing decisions ever this fight was like five years ago
I actually watch like two or three fights in the last five years one of
them was the recent Pacquiao fight where he beat like a 21 year old so as a 40
year old so that was great I know so what about him yeah he’s from he’s like
the white George Foreman and he he’s gonna get a heavyweight title shot and
he he tweets about Bitcoin this guy you got Adam Cowen that I can’t he’s got a
polish last name I mean he’s good he came from Poland he grew up in Brooklyn
so I mean you came from Russia you girl honey’s phone on Rizzo’s austin que que
o WN a ck i Adam K he is a bit this hobby for me if this guy really gets his
heavyweight title shot it’ll be good for bidness he’s tweeting about Bitcoin all
the time he’s you see him you see you see what it looks like I see him I say
I’m gonna follow he’s a white George Foreman you gotta get to get this guy on
your show or something like that um I’m gonna follow him on Twitter he’s
not following me but I’ll follow him yeah yeah yeah learn about this guy
because I know you’ve been traveling around and stuff and I got I got a
question about that someone told me are you gonna come to
Tel Aviv in September is that just a rumor
you know I was going to come to Tel Aviv and uh to attend the scaling Bitcoin
conference it was on my list but you can’t just come to Tel Aviv for like one
or two days and and right before the Tel Aviv conference another conference came
up in Washington DC that I just couldn’t pass up a speaking opportunity on that
is the black blockchain summit at Howard University oh it’s uh it was just like
interesting I’m like hey there’s a traditionally black University there is
a conference coming up it’s just it’s weird and I like to see that not like
you know what if they want me to speak on stage that’s a new audience for me
I’m gonna take that speaking gig I would love to hang out with all the developers
in Tel Aviv I could have still made it to Tel Aviv but it would have been for
like two days and then I have to go to Latvia for honeybadger
and I’ve decided to save Tel Aviv for another time or I can actually spend
like a whole week in Israel yeah man because it is the Bitcoin
community I’m here for a couple months and the Tel Aviv Bitcoin embassy every
Sunday it’s rock and you can walk in there any time you know Rudy and
everything so you’ll know you’re here never even there I’ve been having here
since the beginning of July in the middle of July but I do I do not know
about the Howard event that is a great event that you’re speaking out because
there’s so much fun around Bitcoin we’ve heard this since 2015
oh it’s just for white guys oh it’s just it’s racist or whatever and they people
have to get past that that anyone can get into Bitcoin and there were probably
black people back in 2015 who were turned off I don’t want to be in it
because as other peoples that was bad that when you hear people calling it
right you want to get into it okay if they’re saying it’s exclusive but
it’s anyone get into it to get into it so I’m glad you will be getting rid of
the white man’s foot or whatever what I can only imagine what certain minorities
think about this because some their articles out there you see them up we
need to get more women into a Bitcoin we need to get this that don’t like no
Bitcoin doesn’t care who’s in it let the best getting it let the proactive people
get into it that’s and I’m Max Keiser I think is speaking there as well so it
should be a lot of fun oh god that’s uh yeah I got a different ice my memory is
very long and you don’t I don’t know do you still talk about his days and Max
coin you seem to have forgotten that I mean look I remember max coin right but
max coin came at a time when it was cool and fun to just create these old coins
and there was a very different time uh it was just like again those are the
days of creating dogecoin and that was very different right like by now you
know that creating an old coin is bad you were basically like in my view
scanning people because now we have so much more information and we know that
it’s a bad idea to create these old coins but at that time it was such a new
thing and it was fun and cool but it isn’t anymore you know I would ask one
last question about something that was in the news on Krypton Twitter first of
all the toxicity of Krypton Twitter this is my opinion it doesn’t matter who
cares yeah the outside world how many people
in the trip of vertice space even know about crypto twitter i mean big big
financial managers they don’t have time to go to crypto that to know about all
this nonsense there all these guys trying to make you know attack names and
stuff so there was a tweet by ties n who gave a shout out to you and me as being
a long term and then all the sudden taught all these guys are taking out so
much anger will ties yet it’s not Tyson’s
fault that you bought all coincidence and ties hang has been around a long
time and he has never hid who he is I mean do you agree I mean he no I a
person like Tyson uh I thought doesn’t bother me at all
like yes ty he has his own personal preferences
but Kaizen like myself they teach training like you can trade any assets
that you like just because ties and you know believed in I think there was a
tweet where people said that he brought up a bunch of PSV a bunch of is cash and
some of the other ones yeah I’m sure she learned his old lesson by doing that but
Tyson you know what he doesn’t he wasn’t like a be cash shell he wasn’t like
telling everyone to get out of Bitcoin and ties and believes in trading like he
just wants to make more money trading whether that money isn’t any other
currency whether it’s in US dollars whether it’s in Bitcoin whether it’s in
any other currency he can spend so Tyson was never like I never had a problem
with Tyson and a high I hung out with him lost of my soul was in Thailand when
I was there I hung out with him for like a day oh yeah this end people something
you said ties n is a traitor he was a traitor he always will be a traitor so
don’t don’t get emotional but he he talks about a certain point he’s ripped
on Bitcoin and stuff he’s talked about me cash he’s not a Bitcoin he’s not a
Bitcoin and he has never hidden that and again if people don’t like that they
should just not I think a lot of people are angry because they went there on
crypto Twitter whatever they see someone mentions something they think they’ve
got insider information so they buy it and then they lose I mean a lot of
people blame a lot of people hate directed at you and I tell people like
you didn’t make you do it he you did it there’s so much learning
opportunity if you made a mistake learn from it don’t blame I mean what do you
think about the skate go ders that are out there it seems like it’s just
unbelievable the scapegoat yeah I mean I’ve been very clear I’ve always told
people look Bitcoin is – unpredictable you always got to have a
hotlink position by the way did you over get a bunch of people to commit to like
locking up ten Bitcoin till 2024 oh you remember that idea of mine oh my god um
tour in Los Angeles really like that idea remember and I’m still friends with
him but uh no I that was from 2016 that idea was so
strong hand it was just the show to inspire other people to be strong hands
but no I never I never went through with that and then I think now people are so
paranoid about being anonymous and whatever it would it would never really
catch on but again you me a lot of people have been saying Stu the very
beginning just it is too complex just hold it just even even ties and says
that he’s like trading is it for everybody just hold it hold Bitcoin
you’ll be fine whatever but but you know I try to help people that are trading
but you gotta see the difference between you know trading and holding a core
position and this is one reason why I recently taught a workshop it’s
available as a webinar and uh on you know you wanna you want to only trade
with like 10% of your capital and then from that trading pool of 10% of the
capital you only want to put 10% on any position and if that position is down
20% you gotta get out no matter what so you you really if you’re gonna trade
it’s like going to a casino it’s like how much money how much of your life
savings are you gonna bring to Las Vegas is the real question right and those
that bring too much you know you see what half a step yes yes people I say
don’t trade people but that I can’t stop people people want to learn from you
that’s fine people are always gonna want to gamble
that is the nature of man it seems like it takes some conviction and it really
it takes some strength to be able to do nothing with your Bitcoin all right
final words what do you have to say anything I left out any promos your next
events anything you want to say yes so on you can find me all over the Internet
a stone base it’s a tone base on YouTube tone base on Twitter and tone vase
dot-com on my website phone acecomm there is a
section four conferences I have done two conferences this year already they will
both come back for next year one is called on confiscated well that’s in Las
Vegas one is called understanding Bitcoin which is a little more developer
focused in Malta and I’m trying to put on an event in Bali for traders that’s
gonna happen this October that’s called a D financial summit calm go ahead and
check that out that one is a lot pricier than the other ones because it’s only
for about 20 people and it’s for traders and investors and some hedge funds for
people to get together and network and learn new stuff from their peers okay
that is the show thank you very much tone base I think
the biggest thing that came out of this show by the way is that you weren’t
familiar with the boxer Adam Kalin aqui I really think you should be in motion
now and partner up with him in some way I see big things coming from this man I
really I think that is what this show will be remembered for that I introduced
you to the concept of this white George Foreman dude who loves Bitcoin and I
think it can come together tone Vaes and Adam the New York the New York
connection Adam cowl-neck II I cannot I the pronunciation I’m really messing it
up sorry about I can’t pronounce polish resting so let’s I think if so I think
it sounds right but yeah no I’ll look into it
yeah let’s if people watching this in the future maybe you’ll see like Oh Adam
is the champion of the world now and tone is this manager who knows what’s
going on right everybody I hope you enjoyed the show it was a great this
weekend quickly i’m adam i should be chrome I should this reminder remember
subscribe to channel like this with your shows when you check out the links below
remember a new show here every day and every Friday we do this week in Bitcoin
everybody shabbat shalom i will see you later bye bye thank you tone

20 thoughts on “This week in Bitcoin- 8-9-2019- Tone Vays talks markets, gold, IRS, Litecoin, halvings, dollar, ETH”

  1. Hey Adam & Crew – Play

    ( 1847 , 4788 ) box & Straight

    Online @ 5 dimes c o m

    Or just play them in your local lottery

    Great Luck if you Play / Win

    Buy some Bitcoin if u win

    Play all Weekend Long πŸ€‘πŸ’₯πŸ’ͺπŸ‘ πŸ˜Ž

    Remember Adam can see how many times you Edit your Comments πŸ˜‚πŸ€£

  2. I have to disagree with Tone Vays. its will be room for more than just BTC. don't give me wrong I got to BTC sine 2016 along with ETH and LTC.

  3. I like the boxer but, what happens if he gets knocked out as upsets happen in heavyweight boxing all the time. Disagree with Tone on litecoin. I don't see why two or three options to Bitcoin can't coexist peacefully with Bitcoin. I think there is room for both to thrive as people the world over love options. Besides some of these altcoins serve specific niches. Bitcoin is a store of value while litecoin is a faster cheaper means of exchange for micro payments.

  4. The only thing I'm interested in hearing from tone is how wrong he was about 1300. I think anyone taking his predictions or analysis seriously is foolish. Trace and simon are ballers. Tone not so much.

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