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As is always the case, when asked to do interviews, much of the content is not used. Editor in this case was looking for different opinions and only had need for a couple of my quotes. Nevertheless, I think for archival purposes, might be interesting to see all the questions and all the answers - for what eventually became this piece on RT.
There is a long history of virtual currencies and crypto currencies going back twenty years including my own patented 'Virtual Specialist Technology' pat. The most important, 1. Bitcoin cannot be counterfeited, 2.
Bitcoin can exist entirely outside of the current banking system because banks are not required to verify authenticity or facilitate currency transactions. The problem describing Bitcoin is twofold: First, you have to throw out what you think you know about money. Second, you have to become moderately fluent in a few technologies. The beauty of Bitcoin is that as the price of Bitcoin rises, more people are incentivized to tackle the learning curve out of self-interest.
The US Dollar, stocks, bonds and property are all in bubbles. Bitcoin and Gold are underpriced vs. Bitcoins are very cheap vs. Bitcoins have real value. They can't be counterfeited and there is a limited supply. The fact they're perfect for moving value around the internet means they compete with other currencies. And as more people switch from banks and fiat money to Bitcoin the price will rise, and crucially, banks will fail. This is a bit misleading in that Gold supply is worth trillions and Bitcoin is worth billions.
The real question is, what price would Bitcoin need to get to equal value of Gold. Will it get there? I think so, yes. Bitcoin has intrinsic value the same way a gold mine has intrinsic value When you own Bitcoin, you own a piece of a network that, like a gold mine, has intrinsic value. Each Bitcoin costs hundreds of thousands of dollars to create. This is real, hard, value. It's impossible to overhype Bitcoin.
The way Bitcoin is changing society is as profound as Gutenberg'g printing press or Edison's light bulb. Very bullish answers Max! I'd say I share those sentiments but more about the crypto market in general rather than just bitcoin.
Until it's easier to use than fiat it won't see mainstream adoption. As far as i see it most of the activity in Bitcoin is people buying and selling in as an investment. Surely money was invented to be an extension of the barter system. I think other coins which actually have a market use will takover. Like a wheel Bitcoin was a great invention but other crypto coins have tires and bearings to make then more practical. Glad you have joined us on steemit where people are like the steam engine driving the wheel.
That may be true, and then another possibility is that indeed BTC becomes the value storage that slowly continues to rise, and one then cashes out the growth into 'user friendly' alt coins according to one's geography, need, product etc etc.
BTC will be the worldwide storage to be exchanged into anything anywhere. This was one of the most succinct, informative, and enlightened interviews on bitcoin I have read in a few years. I met Max in Stacy in NYC in , they're pretty awesome and have for years been diligently covering financial crimes while seeking solutions for the rampant inequality and financial injustice ravaging Western nations and the world.
Wish I had more dollars to buy Bitcoin right now. I think almost everyone here does. Most of my crypto investment is in Steem. Max keiserreport , I don't think this is correct. Bitcoins do have intrinsic value, but not because they cost a lot "to create" mine. Value comes from utility they have for their owners as a convenient and easily transferable storage of wealth and a payment tool. Take Steem for example, it costs almost nothing to "create", as there is no electricity wasting "mining" in Steem blockchain, so by the faulty logic above it does not have intrinsic value, unlike Bitcoin, which is false.
The skies the limit who truly knows how far it can go. However you view it, it's a beautiful thing to witness. First time being introduced on steemit. Ive been watching Ive been waching RT america from a long time. What about other alt coins besides Bitcoin? Do you just see Bitcoin at the top, or a few coins sharing a percentage the market cap like it is now? There are just so many, I wonder if one will come along and cause people to swap Bitcoin for it. How about you other kind Steemit folks?
What is everyone's opinion? The reason I say BTC will prevail in the crypto world is that if anyone makes a novel useful feature, then other coins can incorporate that. Litecoin is a good coin with a good crowd and I think it will do well, but it's sort of a testnet for Bitcoin SegWit, Lightning etc - it does score points for filling that area though, and will likely be rewarded in leaps each time it does that.
LTC is nimble enough to incorporate this stuff first, but BTC is foundational and nobody wants to mess with it and be flighty. Ethereum is a good example of how not to do it. Multiple forks and hacks on the tokens offspring not just exchange hacks that anybody using them is exposed to , but the technology itself not being thought out properly before making the leap.
But that's what 'teenagers' do the world over. Thank you Max for all the information you are giving us. I am new to joining this crypto bandwagon, so your insights are invaluable to me. I think your questions are exactly what the general population thinks about Bitcoin and other crypto currencies. But maybe this is a good thing. With "experts" like this saying keep away from crypto, it might keep the big money people out of it for a while longer yet. I love reading your posts, but a few things in the article aren't very clear to me.
When you answer the question about BTC vs. We obviously have Etherum and many other competing coins that are playing a larger and larger role and increasing in value. I had sod all to buy some bitcoin last year but did so. I had sod all to buy some this year but did so. Bitcoin has been resilient to both yeas and nays. I am happy to be part of the community. To read my future writng please follow my account..
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By upvoting this notification, you can help all Steemit users. I seriously need to invest on bitcoin. Been saying I will do it for like 2 years now. Need to pull the finger out and just do it. Awesome interview with simple language and straight facts!
Its so good that we've got Max Keiser helping to lead the revolution! Keiser, I want to personally thank you, Stacey Herbert and RT America for your show but for your precise clarification of Bitcoin, what the real value is and the very good news cryptos will bring the banks to task -- or made obsolete.
Hi y'all, Max here. I thought this might be interesting to share the full interview I gave RT today re: Authors get paid when people like you upvote their post.
I upvoted, I hope you can return the favour: That would have been really cool to meet them in person! I love this Heck! I love the entire piece. As always great post! Max I am your fan I follow you for the beginning , love your posts. Fan of you and Stacy, keep up the good works. This submission has made it on the MutuWhale MutuList! Should I buy bitcoin now? You have completed some achievement on Steemit and have been rewarded with new badge s: