Bitcoin Holders MUST WATCH! Billionaire Investor REVEALS Bitcoin Price Prediction 2020

all right welcome back everybody to crypto web my name's noman laghari who is a multi-billionaire venture capitalist all-around good dude went on pumps podcasts the other day and revealed some very interesting perspective on the future of Bitcoin now I'm about to share with you just four minutes of a much broader much fuller 82 minute conversation there's a link to the full episode down below listen to the full episode you will like it because while trim auth is a billionaire today he admits this he spent the first 20 years of his life with no money he made his billions by investing specifically investing in tech investing in tech is his core competency so in shamov gives his insight on bitcoin I listen this leads to Bitcoin right at you're famous for calling it the schmuck insurance I'm not gonna say that we're in the situation where the insurance is needed yet but we're definitely headed that direction over a long period of time how are your views on Bitcoin kind of changed over time and have you bought more bitcoins sold Bitcoin or change anything in kind of a portfolio allocation standpoint so first of all I think you said it exactly right which is that I think that this is the set up meaning I think Bitcoin needed a moment like this for it to be relevant in 2003 oh sorry 2013 I bought a lot and at one point I think I had almost 5% of all the bitcoins my basis is about 80 bucks a coin I've never bought more most of my Bitcoin now sit with a company and you know they use it for trading purposes they use it to run a bunch of other strategies and I did that mostly for safety and security and peace of mind I didn't want to deal with it so I have not bought since I initially basically wrote that article for Bloomberg in 2013 my thoughts are the following right now I think what you're seeing is that it's still a speculative instrument and it's too speculative for it to be reliable so if you're going to make the case that you know it should replace fiat currency well one thing you have to look at is the volatility of the US dollar and you can't replace it with something that's 9 sigma more volatile it doesn't work and the reason it doesn't work is that it's 2 again going back to what markets are important the only market that's even more important than the debt markets are the currency markets and what you see is enormous amounts of liquidity where 5% moves so 500 basis points are newsworthy well those 500 basis points in the absence of some massive exhaustion is that that take years to play out and in that there's value because it allows more market participants to be active in that market so that they can use it as a critical pillar of how they run their business but now all of a sudden if you have 2000 basis point moves 1/2 hour you can't effectively use it and so what it does is it pushes it into this ghetto of day traders and speculators and right now that's where we are we're in that ghetto and you need to get out ok I like it I'm going to subscribe to it I like staying informed but before we finish this clip let's just clarify it whatja moth just said is that bitcoin is still in its ghetto phase his words not mine but he means that bitcoin right now is still way too speculative to be reliable to be reliable enough for big money big finance to get involved now it's the traders that are loving to get oh it's traders that use Bitcoin the most today according to shamov the question is how do we get out of the ghetto for Bitcoin I mean aren't these last few months the devaluing the debasing the magic money printing isn't this the perfect storm for Bitcoin where does Chema see Bitcoin today fitting into this global crisis and where does chamaco see Bitcoin in 10 years by 2030 listen to this and right now that's where we are we're in that ghetto and you need to get out and the way that it gets out is that you need to flush the speculators and day traders out and you need to have still some basis of interest from long-term holders and then you need to have it slowly look like the traditional infrastructure could really implode so again I go back to we are driving slowly but we are driving towards a top of a cliff and then we're going to drive much much faster down that cliff tore down that hill and at the end of it is a is a huge brick wall the way we avoid it is by pivoting to a resilient economy where we introduced in efficiency and cost and inflate our way out of it or debasement okay just to be clear on that analogy that he just made there's only two ways out of this this massive money-printing cliff that were about to fall off of number one is as our currency inflates our government and world governments pivot to a more responsible monetary system that would be the good solution or the other option is we inflate the currency so much that it's total fiat debasement those are the two paths the path dependence for bitcoin is if it looks like path two is likely it will really emerge as a flight to safety and over the next ten years where this trajectory is going to take shape and it is a ten-year trajectory you'll have a lot of time to vector into it to protect yourself and to hedge yourself and I've always thought of Bitcoin as a very binary investment whether it goes from eighty to eight thousand to six thousand to three thousand to thirteen thousand it just

it doesn't matter this is either zero or it's millions because what it will do is it will create a quasi gold standard it'll create an index except instead of having to own gold where gold is owned by central banks it is an instrument that has value that's determined by in between its participants it's owned by everybody so maybe the correct way to say this is that it's not gold but in gold being gold 2.0 which some people have used about Bitcoin what it does is it replaces the the method of value transfer that you need for fiat money to be valuable but that only happens if the US dollar looks like it's going to careen into this wall so I think that's the bet so the setup is here so before there was no path dependence meaning you were speculating and not really hoping because you know if you were if you're using as schmuck insurance as I was you were kind of hoping it would never come in but now if the probability you know was 1% that that it would be valuable unfortunately the probability is now probably like 5 or 10% and there's a real chance by 2030 we don't find a way to inflate our way out of this okay I like that and did you catch his price prediction he speculates that in the end Bitcoin will either be 0 or Bitcoin will be worth millions and according to him it all comes down to one thing how responsible or how irresponsible these world governments are being with their monetary policy if the chances of Bitcoin succeeding back then when he bought it was maybe 1% based on the irresponsibility we've seen from the USA from these governments in the past number of years the chances of Bitcoin succeeding today it's between 5 and 10% now one of the ways that governments could be more responsible hypothetically is if somehow we returned to the gold standard u.s. dollars were backed by gold Russian rubles were backed by gold that would be a solution now the problem comes in if let's just say Russia for example says we have this much gold in our safes so that means we have this much money to spend are we going to believe when Russia says we have this much gold that they actually have this much gold that's the problem and there's a real chance by 2030 we don't find a way to inflate our way out of this and that the only way to break the back of deflation is essentially to create some quasi form of gold standard but it'll be almost impossible to do that between governments and central banks they'll never agree on an instrument and will never agree on an exchange but then bottoms up people could decide to do it yeah and the minute that that happens individuals and people then it's a done deal comment down below what you think I would love to hear your thoughts leave me a comment and by the way if you go ahead and listen to the original source material Chamath Polly uppity he talked about a bunch of stuff he talks about what's in his portfolio how he is gonna know when to buy when the markets are low enough really valuable stuff if you listen to the whole thing link down below leave a comment on Pomp's youtube channel let him know maybe altcoin daly sent you after Alma like but that is the video for today my name's Austin like always see you tomorrow but now if the probability you know was 1% that that it would be valuable unfortunately the probability is now probably like 5 or 10%

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