Hello everyone this is adam meister the
bitcoinmeister the disrupt meister
welcome to the bitcoin focus show today
is September the 5th 2019 strong hand
bitcoin is the next bitcoin long term
thinking all right turn to me stir
you’re gonna get a 12 minute hit a twit
tour to me stir now he definitely had
some long-term thinking in this one
enjoy it people see ya i’m a
cryptocurrency maximalists right because
I think cryptocurrency really the
promise of cryptocurrency is an internet
of property where not only do you have
money and cash and digital cash all
those 10 things but then also layers of
financial products built on top of its
diction markets derivatives bonds all
kinds of things built on top of it
and so in order to be able to build that
you need a secure base and I think that
bitcoin could be that and and and
because the secure base is so important
and because of all these network effects
I really do think that we will have one
dominant cryptocurrency that is gonna be
the basis and then of course there’ll be
other ones that fill certain niches and
there may be more like that you know the
the intranets of today’s internet you
know like there’s other types of
networks but that are much smaller than
Yin is ripple should that really even be
listed on there I mean it’s just I mean
what do you think about ants and what
you’d like what you define as a currency
I imagine ripple is using some
cryptography is it a blockchain not
really it’s you know if you want to know
what what ripple was going to be you
should look at stellar like that is
that’s the project that came from you
know when the founder left ripple the
inventor of the rope of protocol one
bait when he left ripple he he took the
open source code and built stellar so
but even back in the day it wasn’t
really a blockchain
I mean I think it’s an interesting
finding story you know there could be
something there it could be valuable it
could kind of ride this same wave but
it’s definitely not a competitor to
Bitcoin it’s as if anything it’s almost
the opposite it’s a kyc corn like the
way we ripple is promoted it’s that it’s
extremely auditable like for regulators
it’s like the dream like you could track
any currents any token through all the
different owners and like see when it
was there and how one was kept there and
so you know it could be you know the
next thing for central banks to adopt
ripple and some in some way or for swift
to start working with ripple so I think
it’s interesting but like for totally
different reasons than Bitcoin Wow yeah
I love that kyc coin term I am going to
use that one in the future when anyone
asks me about ripple that’s just what
I’m gonna say dude it’s a kyc coin it’s
not that far away the year 2020 we’re
gonna have a Bitcoin having what do you
what do you see for the year 2020 in
Bitcoin where do you see Bitcoin at
where do you see its price where do you
see this world and and what what bitcoin
is doing it went as we approach this
2020 happy how many people are gonna be
using it what’s gonna be going on well I
mean there was a survey in 2015 that
looked at how many US consumers owned
Bitcoin and the number back then was
like 0.8%
I believe and I did some research and
turns out that that was the equivalent
for 2015 that was the equivalent for
Internet adoption in 1990 in the US as
well and so extrapolating from that I’m
not saying that this is like this is
what it is but we don’t have a lot to
work with when you want to you know
compare Bitcoin growth to anything else
and I do think that there are some
similarities with Internet adoption
where it’s like it’s not only like a
mental leap it’s not only a hardware
leap it’s not only like somewhat of a
financial leap there’s all those things
so I see that in Bitcoin – so
extrapolating from you know that point
eight percent in 2015 to 2020 it’s
possible that 2020 is gonna be like the
windows 95 moment that that you know
that that could happen and that we
actually see this breakthrough start of
generalized adoption of Bitcoin you know
once all these problems with scalability
ironed out and we have like very
performant lightning networks out there
and just a very diversified exchange
system in several countries accepting
Bitcoin for tax purposes and maybe also
Bitcoin serving as a reserve asset for
some smaller central banks you know I
think I think that is not not
unthinkable at all so do you have a
price prediction or a desire where you’d
like to see the 2020 exactly
well my desires a million dollars
obviously but yeah I don’t really know I
really don’t know I do think that I do
think it’s gonna keep on being cyclical
it’s gonna keep on being a cyclical
asset and so do you know to say January
2020 it’s gonna be this price I don’t
know but I do think by then we will have
had at least one rally where the price
spikes to ten thousand dollars or more
that doesn’t mean that it can’t cool
down again and but yeah like I don’t I
don’t think that’s to me that’s not like
a big prediction to make that feels like
pretty much in the line of expectations
you know I I do hear it for me it just
still it’s it’s still an amazing number
ten thousand dollars I still think it’s
you know you hear all these people who
just want to have articles written about
on this a $500,000 it seems like a lot
there are a few logical peope quite a
few logical people out there like
yourself who do say yeah ten thousand
for 2020 um I I can’t I just it’s such a
number I can’t say it I mean that would
be just great I would be beyond
happiness if such a thing happens I
think maybe the way people are looking
at smart contracts and especially you’re
right I mean solving that Oracle problem
is huge
maybe the way people were excited about
video streaming in 1999 and then it took
10 years for it to actually be you know
workable and real so maybe it’s gonna be
another 10 years to have like you know
legit multi-billion dollar sustainable
decent token offerings things like that
and then when it comes to audio de I
don’t have strong opinions I just
started like a threat kind of
aggregating some some skeptical voices
that basically arguing that you know
it’s not the centralized it is actually
the centralized today that this tangle
idea is is maybe you know kind of like
more of a brain fart than something that
is a breakthrough and I see that with a
lot of these projects is that you know
in a way it’s like you know these
photographers I kind of see them as
these theoretical physicists where
they’re like you know they’re like
trying to figure out maybe like post
Newtonian physics and then there’s this
25 year old who comes like from nowhere
who’s totally not connected to this
community that are trying to solve these
really hard problems and he’s saying he
came up with this total breakthrough or
he’s promising to it’s actually you know
even worse like he’s saying I’m gonna
produce this breakthrough give me money
now so you know that I think that’s like
that should have listed some frowns and
some raised eyebrows and so that’s kind
of how I felt about is like wow it’s
very bit clean to make and then so far
from the you know established
theoretical physicist so to speak I’m
not seeing a lot of excitement that’s
just you know where I am I don’t know
much about many details so you know so
far there’s not a lot of upside to
pointing out flaws right I mean there’s
not a lot of liquidity there’s like a
lot of like hot money and so like if the
market is more mature you can have firms
that are like you know one of them is
Muddy Waters in the traditional world
they focused on on China and they would
basically analyze these publicly traded
companies and then if they found fraud
they would you know get a short position
and the company and then publish their
report and then in a way make it
sustainable for them to to specialize in
this kind of criticism but today what is
really the upside if you’re gonna point
out that iota it doesn’t work like you
can’t make any money off of it really
people are upset with you they might
attack you and then you’re wasting time
on and then also intellectually it might
not be very stimulating because often
these these ideas are like rehashes of
things that are you can find in the
Bitcoin talk archives of 2012 on
somebody you know already brought it up
and I was just kind of like the turret
is polished and then they they made a
white paper around it um I would
recommend people check out the Wiz SEC
presentation from breaking Bitcoin I’m
sure you can find it on YouTube
basically you know this this analysts
who lives in it’s not Hong Kong it’s
it’s Tokyo who’s doing this analysis of
what happened with macaques I think it’s
extremely interesting and one of the
highlights for me was that aside from
sorry I’m just losing the screen here a
site from that famous hag infamous hack
of 600,000 bitcoins they were at least
because for brevity he just left out a
bunch of incidents but he highlighted
seven totally separate incidents where
as security of magog’s was compromised
and were in total between fifty and a
hundred thousand bitcoins were lost and
then just you know that made me start
asking around breaking Bitcoin like hey
if you interacted with some of the
existing beacon exchanges what do you
think and there are concerns that you
know security is not as good as we all
hope that it is and so I really do think
that we will have conceal we’re not out
of the woods we are still gonna have big
Bitcoin hacks or been exchanged been
exchanged tax because I think to some
extent it’s still amateur hour when it
comes to security of course you know
markup Ellis really set the bar let’s
say very very low but that doesn’t mean
that anybody who is like a little bit
mark is out of the woods so that would
be like you know try to be safe keep up
with what’s you know the latest news
about hardware Wallace and how to store
your own bitcoins really try to just you
know do your research because everyday
people get hacked and of course not just
you know exchanges also individuals they
go after you on social media it’s it’s
it’s really tricky and so I would say
try and diversify and and really you
know do your homework because you want
to be on board of this for the long run
like I keep saying it I’ve never been
this excited about Bitcoin big points
long-term future ever and then people
call me in and they’re like hey you said
that six months ago it’s like yeah but
I’m more excited now so I don’t know I
think this is this is an amazing you
know technology an amazing community of
developers and so yeah you know you want
to stay onboard right you don’t want to
you know get get hacked or stolen from
so yeah I would just say you know be
careful that that’s all I would say kind
that like button everybody