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explain to us why you have a different view about cryptocurrencies not just Bitcoin but cryptocurrencies well you might have noticed all of those guys are over 60 and I'm not and there's some truth to that and that you know it's very difficult for someone who didn't grow up in a digital world to actually start understanding how we can be moving into a digital world Bitcoin you can look at his digital gold you know what does gold gold is a precious metal it could have been copper or lots of things on the periodic tables but way back people chose big goal to have value and it has value solely because people say it has value Bitcoin is built on an amazing technology there's a limited supply of it people are trusting and remember this whole revolution came out of a breakdown and Trust you know they came out of the Oh 8 financial crisis where people say hey we no longer trust financial institutions we don't trust governments and in parts of the world today still I mean if you're in Venezuela it's for the hard to trust a central bank or in Zimbabwe and so the decentralized Revolution which Bitcoin is really the kind of poster child of is a response to kind of the breakdown of trust Mike is it an investment or is it a trade I asked it because just overnight there was a there was a crypto currency I never heard of actually it's called tether tether and there was some theft of that and that drove Bitcoin down five and a percent now it's come back since it seems to be an awful lot of volatility but listen scripta currencies we're in the second or third inning of this revolution and so these are all very young experiments each of these coins are individual ecosystems with their own use case and so Bitcoin the largest is really a decentralized system of money or decentralized systems store wealth but there are a thousand other coins 30 40 decent decent new market cap coins that have their own system because prices have moved so far like in anything people are nervous and so you know you've made a whole lot of money and there's news you want to book your profits and get out and so to be fair I mean people lost millions of dollars they're not gonna get back how does that not put the whole model into question so the the total market cap of the crypto space now is about a quarter trillion dollars and thirty million got hacked and got stolen and so it certainly gets people nervous we spent a lot of time thinking about security of our coins and had a custody them and how to keep them safe you know two years ago what I had a smaller amount invested I spent a lot less time yeah just to take a look at that chart this is sort of market share of the different crypto currencies with the white Bitcoin being at the top the etherium the orange there and so that's not total value that's market share basically and it looks like a theorem has taken some but now receded a little bit yes so for awhile aetherium really had an amazing run right it went from you know a dollar really do two years ago up up to four hundred dollars and Bitcoin kind of stayed on the sidelines during that move and then Bitcoin had a big move I think right now for first timers that are entering this market Bitcoin is the the name they've heard of and so that's what's really kind of driving that that move just in the last few days that theorem is started to move I actually think it's gonna put a new high soon there's a lot of positive things happening the theorem ecosystem so what's the new high so what's your big point copper 2018 so I think literally we end the year at 10,000 in Bitcoin and so that's a decent move from here and I think we end the year at close to 500 and etherial so how much have you been able to raise for your fund a targeting 500 million you know I'm you know the SEC doesn't allow us to talk about fundraising on TV or I get in big trouble better or worse than you thought it was going to be it's it's been interestingly people have been interested in receptive interesting respect okay and have you been betting on any of the icos at all sure we've been betting on lots of icos again each IC o---- most i've got a bet on wax which is coming up it's a token that's going to try to decentralize the market place for skins which are the clothing seal shields swords helmets that gamers buy to make their avatars look prettier Wow okay he's explained that brave new world over six how about this how about how about this there are more people that buy and sell digital clothing than there are that buy and sell Bitcoin and all the rest of the cryptocurrencies combined it's a giant market
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