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02:15:28
offered it to him so I like it keep it
02:15:32
well ask him ask him a little pay for it
02:15:35
well it's a good number I saw it Richard
02:15:43
Hart but what about long-term Bitcoin
02:15:45
has lower inflation rate longer term did
02:15:48
Bitcoin took 10 years of inflating like
02:15:51
[ __ ] and dumping coins on noobs to pay
02:15:54
for mining right if Bitcoin didn't have
02:15:57
to dump on everybody for 10 years right
02:15:59
back when the inflation rate was a
02:16:01
thousand percent annualized so when you
02:16:03
went from block one to block two that
02:16:05
was a hundred percent inflation
02:16:06
instantly right so the inflation rates
02:16:10
were insanely gigantic Lee massive for
02:16:13
years because had to pay miners the
02:16:16
currency doesn't have to pay my ears
02:16:18
doesn't have to suck for 10 years - then
02:16:20
finally start to have a lower inflation
02:16:22
rate we're starting with a lower
02:16:24
inflation rate than Bitcoin right so if
02:16:26
you think low inflation rate it's gonna
02:16:28
what is what's gonna make your coin pump
02:16:30
it's not because every [ __ ] coin that
02:16:33
has 45 percent inflation rate currently
02:16:35
which is every new mined coin pumps
02:16:38
hardest [ __ ] why because they're they're
02:16:41
low liquidity right the order book is
02:16:44
empty on the sell side so the price just
02:16:47
goes up and up and up because it's not
02:16:49
enough liquidity on the sell side to eat
02:16:51
it up to the energy so just price keeps
02:16:53
going higher Bitcoin went less high this
02:16:56
last bull market than it did the bull
02:16:58
market before that because it has too
02:16:59
much economic mass now right look at the
02:17:02
difference between a Bitcoin in etherium
02:17:03
if thorium's price moves are always
02:17:06
double bitcoins if Bitcoin goes up 5% of
02:17:09
theorem goes up 10% if Bitcoin goes down
02:17:11
to an absent a theorem goes down 5%
02:17:14
right it's basically like a leveraged
02:17:17
totally correlated asset for the most
02:17:19
part right now because there's a fork
02:17:21
there's some D correlation and a theorem
02:17:22
is leading the market today because XRP
02:17:25
got listed it'll lead the market right
02:17:27
when TRX had its BTT air drop that led
02:17:30
the market so you do get rotation with
02:17:33
market leaders but the differences in
02:17:35
volatility and the amplification that
02:17:38
these smaller lower cap coins have is
02:17:40
obvious put on a chart it's easy as [ __ ]
02:17:43
to see it right so I don't care about
02:17:45
your lower inflation rate your lower
02:17:47
inflation rate is not going to in any
02:17:49
way make up for the giant ass ton of
02:17:52
price that you already have that's too
02:17:54
hard to move up right if I want to
02:17:56
double the price of Bitcoin which is
02:17:58
what I don't know let's call it on 80
02:18:01
billion eighty billion dollars for fun
02:18:03
well there's seventeen point five two
02:18:05
million coins and they're like thirty
02:18:07
five hundred bucks
02:18:08
so let's call it 50 billion dollars
02:18:11
right so you've got your 50 billion
02:18:14
dollar project and now you want to
02:18:16
double it to a hundred billion dollar
02:18:17
project so we just need to move the
02:18:19
price from thirty five hundred to seven
02:18:20
thousand it's [ __ ] hard dude that
02:18:23
takes hundreds of millions of dollars
02:18:24
doesn't take billions of dollars right
02:18:26
some people assume a thirty to forty x
02:18:29
multiplier right so if you get thirty if
02:18:31
you get
02:18:32
a billion dollars of fiat in you could
02:18:33
get 30 billion market cap out okay to
02:18:37
move Bitcoin 30 billion dollars to show
02:18:40
you a 2x cost hundreds of millions to
02:18:43
show you like a thousand x and any other
02:18:46
coin will cost like 1 billion this is
02:18:49
just no I don't give a [ __ ] about your
02:18:51
low inflation rate I don't care your
02:18:53
pump and metals are [ __ ] you're not
02:18:55
ever gonna outperform a [ __ ] coin ever
02:18:56
so if you if you care about percentage
02:19:00
gains my free token will dump all over
02:19:03
your percentage gains on any coin that
02:19:04
you paid for because free to something
02:19:07
is infinite that's the math so long term
02:19:16
yeah I'll take the thing that has higher
02:19:18
throughput already has anonymity by the
02:19:20
way so when I already released something
02:19:22
called Zetter which gives you zero
02:19:25
knowledge proof on aetherium and the
02:19:28
only downside to it is it's so gas
02:19:29
intensive right now that it almost fills
02:19:31
an entire block one transaction but the
02:19:35
but it's there right so you probably do
02:19:36
on a side chain like it's neat and it's
02:19:39
already there and it already works
02:19:40
because the theorems a turing-complete
02:19:42
system and you can do anything
02:19:43
imaginable in it because it's turn
02:19:45
complete although it's weak as hell as
02:19:47
you can see by only being able to one
02:19:49
transaction on the whole block Bitcoin
02:19:51
and got no annuity so aetherium does
02:19:55
cheaper transactions and higher
02:19:58
throughput with anonymity and a lot of
02:20:02
lottery tickets for scaling and charting
02:20:04
and their own replacements for state
02:20:07
channels and so the version of lightning
02:20:09
is called plasma and state channels and
02:20:12
Radin it's just [ __ ] better and has
02:20:15
the lower market cap so if the
ico
is
02:20:18
eventually get done dumping it I would
02:20:20
probably be more bullish on it than
02:20:22
Bitcoin but it because the
ico
still
02:20:24
have bags I'm happy to be buying an ICS
02:20:28
bags really okay but but Bitcoin will
02:20:38
still not be a store of value but it
02:20:40
will still be ante flashin airy and
02:20:42
institutional money if it goes into
02:20:44
Krypton
02:20:45
currencies they will bet on Bitcoin
02:20:48
right they already are plus it's the
02:20:50
first time so I I generally see Bitcoin
02:20:54
like I see gold and let me explain what
02:20:56
I mean by that because no one really
02:20:57
explains it I'll tell you what I mean it
02:20:59
should be 1 to 5 percent of your
02:21:00
portfolio if that makes sense and then
02:21:05
you need other stuff to make you money
02:21:08
because gold is actually a very very bad
02:21:11
investment I own gold but it's a bad
02:21:14
investment Warren Buffett hates it but
02:21:17
also and the reason is it's antique
02:21:20
nation airing it's easy to it's good in
02:21:22
hard times and it's generally good to
02:21:25
have in your portfolio that's just my
02:21:27
point of view on that I just and I think
02:21:31
I think Berkshire Hathaway having twenty
02:21:34
percent twenty two percent annual
02:21:35
returns for 50 years is good enough so
02:21:40
they can't do that much better than the
02:21:42
S&P 500 but they still do a little
02:21:44
better than the S&P 500 so so Warren
02:21:47
Buffett dies I think Berkshire is pretty
02:21:49
[ __ ] great no he actually he beats
02:21:56
yes he didn't he didn't become the
02:21:59
world's greatest investor by sucking and
02:22:02
investing like if you've returned 22
02:22:06
percent average over 50 years you're a
02:22:09
god as far as I'm concerned so yeah
02:22:12
Berkshire Hathaway's the [ __ ] less the
02:22:15
[ __ ] than it used to be because their
02:22:16
size is so large now that it's hard to
02:22:18
outperform the markets hard as it used
02:22:20
to and the markets have become a little
02:22:22
bit more efficient we're talking about
02:22:27
oh yeah atheria versus Bitcoin liquidity
02:22:30
yeah if your speculator you need to take
02:22:33
your blinders off and just realize the
02:22:35
little quiddity things can do thousand
02:22:37
decks and big high market cap things
02:22:40
can't I can't there's not enough Fiat to
02:22:43
buy up the price that high so if you
02:22:46
want a hundred extra thousand decks you
02:22:49
want to wait ten years like I did and
02:22:50
Bitcoin or you want to wait like two
02:22:52
years that these other guys did I like
02:22:56
two years better
02:22:58
as long as long as it's still possible
02:23:02
right now because you don't know if this
02:23:04
will be possible in the future right
02:23:05
there'll be a lot of coins it's like so
02:23:11
what so let's talk about that walled
02:23:12
garden right so I've got pricing power
02:23:14
because I didn't open source license the
02:23:17
contract and I kept the claim total
02:23:18
private source and I've got fifty
02:23:23
thousand followers when vitalik launched
02:23:25
aetherium he had what no followers five
02:23:29
thousand followers right I just mean
02:23:35
these differences these differences in
02:23:37
marketability and traction between coins
02:23:40
will always make more of a difference
02:23:43
than technical differences because no
02:23:45
one actually uses a [ __ ] for anything no
02:23:48
one uses crypto for anything
02:23:49
picks up getting rich unless you're on
02:23:51
the darknet yeah sure yet yeah sure but
02:23:55
why not just do what works now it's like
02:23:58
it's like I could focus on cheaper fees
02:24:00
because I've had them or I could focus
02:24:02
on no inflation bug
02:24:03
cuz it's never had one or I could focus
02:24:05
on truly immutable because the contract
02:24:07
can't be changed
02:24:08
you know or I could focus on higher
02:24:10
throughput they're all great but they're
02:24:13
[ __ ] compared to mad gains triple
02:24:16
your stack just from getting the coins
02:24:18
unclamped I agree I agree like but when
02:24:20
you sell something what will you sell it
02:24:23
and if you were selling in land for
02:24:25
example would you sell it like sell my
02:24:28
land I'd so whatever I got the highest
02:24:30
price for and then just convert it right
02:24:32
like if you were if you were gonna buy a
02:24:34
Bitcoin anyway and you had to pay 2% to
02:24:37
get in and that guy was gonna sell
02:24:39
Bitcoin anyway and he was gonna pay 2%
02:24:40
to get out then you guys saved 4%
02:24:43
between the two you total to just
02:24:45
transact in that currency but what
02:24:47
you'll find is that the likelihood of
02:24:49
two people wanting to transact and both
02:24:52
having a 2% [ __ ] egde on the bid and ask
02:24:56
is so rare that it restricts the number
02:24:59
of things that you can purchase to where
02:25:00
you're basically just gonna get a [ __ ]
02:25:01
deal on whatever you're buying oh so
02:25:04
you're better off getting a better deal
02:25:05
you're better off selling through Fiat
02:25:06
getting a better deal and buying
02:25:09
something you really want
02:25:10
of having a restricted supply to just
02:25:12
the the point oh-oh-oh-oh-oh-oh 1% of
02:25:15
sellers that just happens to use the
02:25:16
weird currency you use there's a lot of
02:25:19
people that we looking to sell things
02:25:21
who Bitcoin or would rather sell things
02:25:23
from that point for many I don't think
02:25:26
and companies companies are specialized
02:25:29
in selling ship for Bitcoin literally
02:25:30
got a business just like esker companies
02:25:32
so there used to be an escrow company
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