Today I present a recent interview with Timothy Maxwell Keizer (Max Keizer) that took place this June 25 on the You Tube channel Tech with Catalina, this is a great channel that provides high value content directed by Catalina Castro, so let's start, by the way write the full interview because in my opinion each question and each answer contribute a lot, so I will divide the publication in two parts and upload it in two different posts so do not forget to read the two parts.
Catalina Castro: What is your Bitcoin Price prediction for the rest of 2020? And what do you think of 2021, what can we expect?
Max: Well, when Bitcoin passed the dollar in 2011 I said it would reach $ 100,000, so I still think it will reach $ 100,000, and since GOLD you have to understand that the price of Bitcoin is very tied to value from other FIAT currencies. So when you say that gold reached new highs against the Argentine peso, in reality the price of GOLD did not move, it is the Argentine peso that is collapsing.
And when GOLD moves against all the major world currencies, it is not because GOLD is rising against those currencies, it is that those currencies are collapsing against GOLD. An ounce of gold equals an ounce of. And if FIAT money collapses, then it takes more of that FIAT money to buy an ounce of gold. In the case of the US dollar, I hope that gold will have a new maximum against the dollar in the next 6 months, and then it will have a much greater movement, because the dollar takes place to become much weaker and so gold and bitcoin begin to rise. relative to FIAT money relative to the dollar. The other interesting thing to consider is how is the price of Bitcoin going to move against gold?
Which one of those is going to move faster?
I think about recent comments from Paul Tudor Jones, who is a very famous hedge fund manger, he used to follow him when I was on Wall Street back in the 80s and he said inflation is going to come back, love gold, love bitcoin. But he believes that Bitcoin is the fastest horse in the race.
And what does that mean? Well, if the market capitalization of Bitcoin starts to reach that of gold, it means that it will go from 160 trillion, to about 10 trillion. So for every dollar against which the price of gold rises, bitcoin will rise 25 or 30 dollars. That's what it means to be the fastest hair in the race.
So to answer the question, it depends on how much longer the United States government is going to have the dollar on life support. The dollar is basically dead and they keep it alive with accounting tricks in Washington DC. And as long as those tricks continue to be performed, as long as the federal reserve buys assets, trillions and trillions of dollars in assets, then both gold and bitcoin are holding back. But this is a game that cannot be played like this, just ask any Latin American country, you cannot escape debt with inflation, there are monetary collapses. And the United States will fall at the feet of Argentina, Brazil, Colombia and all these countries that have had monetary collusions. Not for holding on to Latin America, any country that has had monetary collapses, Russia for example had several collapses.
So it is better to be one or two years early than to be 1 day late, because people say. "When is the price of bitcoin going to rise to 20,000, or 15,000, or 100.00?" you know, involved in that question is also "When should I buy?" And the answer is don't try to sync it up, don't be the guy who didn't buy bitcoin the day it went up to 50,000 in one day, and then say "oh wow I should have bought" don't be that guy buy now and keep buying , buy every day. You know I am working with swanbitcoin.com, it is a great service, you can do your cost averages in dollars for bitcoin, every day, buy a dollar every day, buy 5 dollars every day, just buy every day, not what think. When the crisis hits, you're going to think, "Oh, thank God I bought Bitcoin every day, because I'm the only soluble person in my neighborhood now, everyone else went bankrupt."
Catalina Castro: If that's a great message the price of bitcoin is the least important factor in bitcoin.
And you pointed out all the characteristics of why people would have to import Bitcoin
Max: Yes, the point that bitcoin price is the least interesting part of bitcoin, and I agree with that, it is true, the most interesting aspects of bitcoin would be hashrate, it already takes more than 100 quintillion calculations per second , and that grows dramatically, it has 85% of the hashrate of the crypto market, that is going to rise to 99%. I don't think any altcoin really survives, in any way important. They are already stumbling everywhere. It has 90% of the market volume, that number is going to reach 99% soon. And you know, thinking about Bitcoin technology, it is insatiable in terms of energy and looking for greater hashrates and computing power which requires more hardware and more energy and is really out of our hands.
No one can stop it, I don't think anyone can stop Bitcoin from accumulating more power, more CPU, more cycles per second. It is like a Godzilla that emerged from the ground in 2009 and is knocking down buildings and tearing down countries. It is changing everything and nothing can stop it.
Catalina Castro: Max this is an audi question with you experience can you explain in more detail why you think altcoins are not going to succeed in the future, and why altcoins are different from Bitcoin.
Max: The problem with altcoins is that they are not safe, to be safe they have to attract enough hashing power to withstand a 51% attack in the case of a Proof-of-Work coin. In the two main forks, Bitcoin SatoshiVision (BSV) and Bitcoin Cash (BCH), they are both irreversibly insecure, you can be easily attacked, almost without money they are not safe. So no Proof-of-Work coin will have the ability to compete with bitcoin for all the hash-power that is dedicated to bitcoin, because it will be the safest and fastest currency. In the other types of coins like Proof-of-Stake and these other types of coins, they are not competing with Bitcoin, they are totally different projects, they are more interesting software projects, they are not even part of the same conversation.
Catalina Castro: how can you be so sure that Bitcoin will succeed in the future?
Max: I'm sure Bitcoin is going to succeed because back in 1996, as I explained earlier, I created a currency when I started a company in Los Angeles called the Hollywood Stock Exchange, and I have a US patent for a technology that is essentially tied to digital scarcity.
And when I saw Bitcoin in 2011, I immediately understood that it solved a lot of problems that we tried to solve in 1996, by creating a digital value that was impossible to fake, and it does it in a distributed way, making it a huge technological leap , and I immediately recognized that this had the ability to solve a key human problem that has been going around since the beginning of humanity.Since we exist, humans love to exchange, we love to travel, we love to get together, communicate, exchange festivals, humans are very sociable, we are sociable animals.
And so money was always the means to make it possible for society and humans to interact with each other between different countries, or through time. That is why gold became the perfect money, because you could have a social interaction with another human over several decades, centuries or millennia. If today you were to buy something from someone, and pay in gold, that person who accepts that gold can keep it in your family for hundreds of years, even a thousand years, and will continue to maintain its value, and you will be able to continue using it as a medium of exchange, that It means that my social interaction with that person was preserved in that gold unit for thousands of years.
So gold makes human interaction around the world, with different cultures, different languages, different times, different eras ... makes it possible.
With Bitcoin, what he manages to do is take the idea of gold, and mix it with the incredible technological reality of network technology and network economies. So we know that starting in the mid-90s, with the beginning of the internet, that when you have humans that need to interact, and you mix it with technology where the cost is constantly falling exponentially, and the cost of that technology is the cost of storing electrons, moving electrons, and processing electrons, those three main components of technology that cost because the technological advances that happen are duplicated every 18 months, etc., every 2 years. Go down that asymptotic curve that tends to 0.
Now you are mixing gold, the idea of gold; finite, scarce, indestructible, desirable, inconfiscable, divisible, fungible, portable, hard money, and you are mixing it with a technology network, and you introduce it to the internet. So now you have the ability that every human being on earth can interact with each other on earth on a human being, in a way that promotes social welfare. That is in our DNA, we must be socially well that promotes social welfare. That is in our DNA, we must be well socially. We cannot live outside the code of our DNA, we cannot do that. I cannot live like a fish, I cannot live like a monkey, I cannot live like a plant, I can only live like a human being.
That is the code of my DNA, and it becomes my prerequisite, it is a mandate, it is without mistake that we are going to socialize with other humans and we do it through money and the best money until 2009 was gold, and now it is Bitcoin, and now the possibility of social interaction between human beings is much greater, which means that the potential for a peaceful existence is much greater as well. Because all the war, all the fight, all conflict is based on misunderstanding, bad communication, and Bitcoin eliminates virtually all bad communication by making every thought stroke monetize with a Satoshi, (which is a hundredth millionth part of a Bitcoin). So literally what I think is "I think I want to go and talking to that person crossing the park right now "is being monetized in my consciousness and reflected in the value of 1 Satoshi or 2 and in a way that is understood by that person that I may be talking to on the other side of the park. Our consciences They mix, and we all think of Satoshis, and once all misunderstandings have been removed, we will have a rebirth of peace.
Peace will arise greatly, and I am seeing it happen right now. And I see that the people who hate Bitcoin, ARE THE PEOPLE WHO INSTITIGE WARS AND HATE, all the leading economists like Paul Krugman say "FIAT money is backed by violence!". (or as Jim Roger you can read what he said by clicking here I wrote about it a few days ago, we continue). He is not interested in peace, he is interested in violence, and he is a leading economist ... Nouriel Roubini, and others, the idea of peace is abhorrent, because it would take away their livelihood.
So Bitcoin is going to push those guys aside, because they are troglodytists, they are simple ways of living that exist for violence, they will be "out of the way" of existence very quickly, and other economists and thinkers will emerge, and they will have this new reborn if you want to call it that. This beautiful experience is approaching very quickly, I can feel it and others too, you can feel it, I feel it right now.
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Tech con Catalina
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