In this video I enlist the help of Anthony Pompliano (aka Pomp) to help me think through some of the long-term concerns and risks I see for Bitcoin.
Pomp on Twitter: https://twitter.com/APompliano
The Investment Case For Bitcoin by Pomp, https://pomp.substack.com/p/the-investment-case-for-bitcoin
0:18 - Intro
0:37 - Start of Interview
0:56 - Background of my Bitcoin thoughts
1:45 - Short-term appeal of Bitcoin
2:28 - Government overreach and personal liberties
3:57 - Government crackdown on Bitcoin and Crypto
4:48 - Elimination of cash, loaded with government debt, need to raise taxes
6:16 - Where Bitcoin is today
6:55 - Bitcoin as transparent ledger
9:17 - Bitcoin taxed
10:00 - U.S. backed digital USD, every currency will be digitized
11:15 - Global game theory and accessibility
13:00 - Digital wall adoption
13:50 - Flow of capital from soft to hard currencies
15:34 - Why U.S. won’t ban Bitcoin
18:00 - Bitcoin wallet holders identities
19:20 - Why governments can enforce a ban of Bitcoin if poses existential threat
21:15 - If government requires reporting of assets
22:30 - The more success Bitcoin has, the more motivation government has to ban it
24:18 - Government already taxing Bitcoin transactions
26:00 - Bitcoin bulls in government
27:55 - Bitcoin held by millions of people
28:38 - U.S. dollar will fail, Bitcoin as Internet currency
33:22 - Reasons on how governments can ban Bitcoin
36:40 - Survival of governments at stake
37:15 - Why Bitcoin won’t become global reserve currency
40:50 - Federal Reserve’s role in devaluing money, inflation
44:45 - Bitcoin as deflationary monetary system
47:40 - Bitcoin not pegged to actual people’s income/revenue
49:13 - Bitcoin pegged to commodity of computing power53:50 - Value of computing power based on resulting products and services
56:00 - Bitcoin compared to centralized digital ledger
58:28 - Decentralized financial system even trading stocks
59:55 - Bitcoin lack of intrinsic value 10-20 years out
1:03:10 - Probabilities of Bitcoin becoming global reserve currency
1:05:22 - Store of Value: comparing Bitcoin vs real estate
1:11:40 - Thinking in probabilities
1:12:45 - Store of value argument for Bitcoin lacks stability
1:18:10 - Can Bitcoin save the world
1:21:05 - Concluding thoughts
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