Bitcoin Will Outperform Everything Including Warren Buffett Says Max Keiser – Part 1

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01. Bitcoin jump pass a 16,000 mark on Thursday and my guest today says it is not going to stop crushing the US dollar and governments can't do anything about it joining us today is Max Keiser host of the Kaiser report and a leading expert on Bitcoin who advise buying at three bucks back in 2011 how come I didn't meet you back then max first of all viewers should know that your jacket nails and are all matching your lipstick it's all rose colored gold rose gold it's the perfect color for your message gorgeous so we're the only beautiful thing in the gold space everything else in the gold space is dead or dying only daniela has life and as vibrant as keeping the space alive without you gold to be at $400 an ounce max you are too kind first of all what's your primer on Bitcoin for people who have been living under a rock in a minute my one-minute bitcoin pitch well you say everyone knows that there was a white paper in 2008 the Satoshi Nakamoto white paper and it says right there at digital cash and this is really setting things off onto a path of confusion because you have to go back and look at Bitcoin in a different way to really understand what it's all about number one bitcoin is a messaging app number two Bitcoin is a store of value number three bitcoin is a means of exchange or a medium of exchange so that digital cash piece doesn't come in until the third stage first it's a messaging app people ask why is the price going up like sky rocketing parabolic is because why does why did Facebook go up to parabolically why do email applications go up parabolically it's an it's a messaging app economics is messaging currency is messaging but we haven't seen any anything like these moves don't max yeah how do you I mean anything comparable I mean how do you stomach this volatility how do you deal with it I build incredible bonfires of fiat money in my living room and I set them on fire and I toast marshmallows on them they're real do what now well I think right now what's happening is that institutionally and players in Chicago New York the CME the SIBO and others are now coming to the table so here's what's happening now in my opinion is that you've got these guys in the futures business the futures markets the hedge funds they want to get into this business in a bad way but as you know as I know and I created the virtual specialist patent technology 5/9 501 76 is the actual patent number I know about market making and I know how specialists work in the financial arena and I know that what's going on now is that all these guys are building up their inventory they need an inventory they need a basis for a Bitcoin that's relatively low going forward they're gonna ramp this all the way up to a much higher price before they launch these futures products then you're gonna see volatility but from a much higher level and then the game gets even more interesting and we can talk about that but that's that's why you're seeing this past week and a half once once the CMA said greenlight two futures yeah these guys the pros you know it's a relatively peanut market compared to the bond futures currency futures stock features it's a miniscule but so they've got a they've got to inventory up they've got to get massive inventory on hand so they can play the games they like to play so they got a buy stay got to buy it so max make the counter argument to the number one argument against Bitcoin out there it's a bubble don't touch it again go back to my three stages as I explained Bitcoin number one it's a messaging app number two it's a store of value and number three it's a medium of exchange as a messaging app you have to understand that it's exponentially growing like that hockey stick moment that growth spurt that you see in the technology space is if this was just a pure technical of it was snapchat and it was getting hundreds of millions of new users every quarter people would not question that they'd say well that's normal because it's a viral exponentially growing technology that's what this is but apply it now to store a value medium of exchange so to say that you got in at a great time is the understatement of the century yeah so so if someone comes you know and I'll get people stopping me all the time now saying you know what do I do do I I want to get into Bitcoin I feel like I'm missing out on what others are gaining but like at these levels how do you touch it well I think it's coming a lot higher so you're still talking about a ten-time game 1010 X games from here in the next you know in the medium term I mean it's still gonna outperform stocks bonds gold it's gonna outperform everything it's gonna outperform Warren Buffett you know Warren Buffett said famously so prepared Bitcoin - rat poison you know what he's right and guess what Warren is the rat Jamie Dimon is the rat is that a wasp Fargo event yesterday who said they are absolutely advising clients not to touch Bitcoin with while they're stealing money out of people's accounts Wells Fargo oh here's a bunch of checking think I'll just steal money Oh goodbye Bitcoin let's talk about the wrist the you know people say market risk security risk and regulatory risk how do you debunked these myths well regulatory risk is a non-starter because Bitcoin is the most regulated currency and security in the world it's regulated by the protocol the Bitcoin protocol is incredibly regulated it's a it's a beautifully game theory developed equally balanced incentive system between buyers and miners and developers and according to the hash 256 algorithm for proof-of-work stake in the cryptography area and it just builds on top of that and it's like yep this is my comparison of gold is that gold is element number what 97 on the periodic table so it makes it uniquely beautiful and elegant to be a medium of exchange and a store of value because of its chemical properties on the periodic table well you can apply the same logic to Bitcoin when it came into existence it had the beautiful elegant balanced Cartesian almost beauty of having all these things in balance working in a way that has never been done before it will never be done again and it's going to blow the roof off every bank in America in the world you