Bitcoin News #31 – Bitcoin Rally, Fed Rate Hike, Bitcoin in 2017

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Bitcoin news for the week of Dec 12th with @theonevortex, @tonevays and sharkybit
————————————————————

Our special guest Victoria had to cancel tonight but we’ll get her on another time 🙂

Topics:
-Bitcoin’s Rally Crushed Every Other Currency in 2016. How did this happen?
-The fed issued it’s first rate hike of the year, what does this mean for bitcoin?
-What can we expect from bitcoin in 2017? We ask our panelists.

Links:

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49 thoughts on “Bitcoin News #31 – Bitcoin Rally, Fed Rate Hike, Bitcoin in 2017

  1. Aww so sorry to have missed the special guest Victoria…Never heard of
    Victoria before tonight lol but I have come to expect good things here so
    looking forward to hearing from her soon guys! until then what should i
    know about her? #WomenInCrypto #WomenInBitcoin #ILoveNerds #GeekSpeak

  2. People could give bitcoin as a birthday present.
    Just explain somebody how to install a wallet on there phone and send them
    a small amount.
    They will learn and talk about it. Original present idea and great
    marketing :)

    1. Good point 🙂 Could you please give me the link to your article were you
      think next year in august bitcoin will drop in price? Or did I understand
      you incorrectly?

  3. Bullish events?
    – CLSA Sees China’s Yuan Plunging 19% by 2017;
    – ETF Winkelvos for bitcoin on January 10, 2017;
    – Megaupload 2.0 (Bitcache)is set for release on January 27, 2017;
    – ETF SolidX Bitcoin Trust (XBTC) decision January 29, 2017.

    1. I would not say liquidity cause a bitcoin is infinitely divisible and hence
      deflationary. If bitcoin starts growing two quickly there are several other
      problems. The chain could get backlogged cause without SegWit and Lightning
      we are still only at 3 transactions per second and because there are not
      that many bitcoins the price can go up quickly and then crash… 2013 all
      over again with a 10,000% rise in price followed by a 80% correction (from
      $10 to $1000+ to $150). If you look at the history of gold price the 1800
      you will see similar bubbles in the price of gold and perhaps why the
      Government did not want to use it as a currency when other options became
      available.

    2. +Tone Vays You’re right. I look at Bitcoin as digital gold/cash. (Tell me
      if I’m wrong for thinking in this manner). Back when the US dollar was
      based on the gold standard, most of the crashes were caused by the money
      supply not being liquid enough to allow debts to be paid. Bitcoin is a
      different matter unless society starts having Bitcoin banks that can create
      money based on lending out money it doesn’t have. Then Bitcoin will need a
      global system of debt write downs or massive on-demand (maybe even
      governmental) mining operations to handle that problem.

      In terms of the transaction speed issues, you are right. Segwit and the
      lightning network are necessities to prevent immobilisation of payments.

      Finally, what’s are good hard/physical private wallets for BTC. Is Keep Key
      any good?

  4. great video again guys! in many cases I agree with Tone’s points, however
    in this video I respectively disagree with one in particular. his point
    about buying 1000 suits with the stock market purchased 100 yrs ago has 2
    big flaws:
    1) which stocks do you buy? thus, selection bias, an inherent risk that
    gold does not possess.
    2) if you buy an index, which didn’t exist a 100 yrs ago, you’re faced with
    survivorship bias. ie most of the stocks comprising an index today didn’t
    exist 100 yrs ago. thus, what happened to the stocks that failed and we’re
    booted from the index?
    gold possess neither risk 1 or 2.

    1. “I see gold going under $1000 in the near future while SPX goes past 3,000
      (yes i might be wrong). ”
      I think i’m gonna take the other side of this bet, but if you’re right,
      i’ll be buying hand over fist!

    2. gold will bottom out at just under 1000, this will occur 2017 or ear 2018.
      keep in mind the best time annually to buy the PMs are early Jan into Feb.
      We may have two more lows, the lowest at 900 something, then Maloney’s
      inflation will happen closer to 2019 and monetary havoc will ensue, like
      Tone says, Euro vanishes, etc…

    1. Martin Armstrong says the same thing.
      He says the Fed is more of a front, pretending to be in control to instill
      CONfidence.
      Its a confidence game and they are CON-fidence artists. Nothing more.
      Armstrong also says the Dow will go to at least 30,000 maybe much higher
      before it tops out.
      He says NO MARKET EVER hits its top multiple times, which is how he see the
      Dow today.
      20000 is simply resistance in his opinion.

  5. Nice show, guys.

    Tone, I understood your claim for a stock market overshoot when all those
    bubbles (mainly in the bond market) burst. But, there is a catch here.

    You are considering that all excessive money flees from bond market… but
    no, the majority of it will be simply destroyed by governments (possible
    defaults). Like you, i see money seeking safety places, but they are very
    small at this moment (bitcoin ir metals)

    The question is: would the “surviving money” from the bond markets still go
    to stock markets? On your favour, tone, it is a relative big market and
    could absorve it. In the other hand, we now have expensive multiples (but
    those wall street guys seemed not to care much to this lol)..

    So, what do you say?

    1. Bruno AP81 commodities like Oil and soybeans are not investment options for
      retirement funds as they are too volatile they are also going down so why
      would any manager buy them now? Currencies are also not options for pention
      funds or 401k funds. do you want to hold your retirement in Euros? how
      about the Yen? these are things for hedge fund to speculate on.

    2. Tone Vays You are right, but remember also that pension and previdential
      funds tend to be conservative and very burocratichal, halving rigid limits
      to stock markets (in my country, Brazil, they are very limited to about
      only 30℅ in equities). In America and Europe they must have a limited also,
      and I believe they are in it right now! So there wont be a huge run to
      equities by their part, right?

    3. Those laws were created during a 35yr bull run in bonds (not sure about
      Brazil). So when you have a generation of people that have only seen yields
      fall and bond prices rise since 1980 they would see Bonds as safe and
      stable (Just like Real Estate only goes up…oops 2008). Once bond
      portfolios start having negative returns as Stocks Make new highs those
      laws will change and they will change quickly as a lot of the same
      politicians that made those laws will see their retirement accounts in the
      red a second straight year as Equities make new highs.

    4. Tone Vays As a brazilian, seeing the developed nations becoming more and
      more third world hell holes like here, I don’t believe in that efficiency
      lol.

      And thanks for this conversation, very inspiring and you convinced me that
      there is a bull force for the stocks afterall (we only disagree in the
      intensite of it).

  6. Great stewardship of the show Vortex, I would send you $10 worth of bitcoin
    for your efforts if you had a donation address – Maidsafe looking good at
    the moment – I invested a few bitcoins into it and whether i win lose or
    draw I want them to succeed with their encrypted Serverless internet.

    1. Hah thanks Alfred! I don’t take donations, or sponsors on the show because
      I want it to be as pure as possible. The only thing I’d ever consider would
      be creating a patreon account some day but for now I make enough at my
      dayjob:)

      As for maidsafe I am also very excited though they are not the only game in
      town of course, I really don’t mind which protocol succeeds as long as it
      allows for a decentralized and encrypted by default connection.

  7. The Fed originally created to be lender of last resort, now the buyer of
    last resort. Don’t forget there were 3 central banks here before the Fed:
    Bank Of United States + 2 Bank of North Americas. This Fed will end one day
    too.

  8. Great video guys, except for the Barry Sillbert section.
    That guy is a con artist. Never to be trusted. He is an anarchist and wants
    ETH foundation to be shaken. He has been manipulating ETC and ETH using his
    tweets. I wont even bother reading his tweets

    1. Mandar Karhade I may not go that far but I have been very critical of him
      publicly supporting ETC, even though I am biased myself against ETH and
      would love to see ETC rise at its expense, I felt that it was not
      appropriate for him to do that. I’m too lazy to find those “Bitcoin Group”
      videos.

    2. I will agree that I am new to your channel and recently started watching
      last 4-5 videos. I just get a general vibe on Barry that he has nothing to
      do with the fundamentals. His actions seem to me unfair to the crypto world
      especially in light of DAO hack and how much people got burnt. He seems to
      love playing with public sentiment to manipulate market.
      On the other note, I am surprised that you would like ETC to prosper at
      expense of ETH. Why is that? if you guys have already discussed it at
      length somewhere, can you please direct me to that video? I will love to
      know.

    1. +vortex
      I really enjoyed your video with your two guests. Sorry the lady didn’t
      make it. But, the two you had – plus your own input was great. I think you
      would be a great guest on the Greg Hunter WatchdogUSA channel. Since
      Bitcoin is getting a lot of attention – having an expert to explain things
      would help people understand what’s going on. Keep up the great work.

  9. Regarding 2017 predictions:
    Would be nice to see PayPal and Square integrate with Bitcoin, lowering
    transaction fees for vendors.
    The predictions about Amazon or Netflix adopting Bitcoin is intriguing.
    Microsoft/Gates may introduce a contender and try to force adoption. I hope
    that doesn’t happen and that the Cadillac standard (Bitcoin) continues to
    dominate.
    With The Committee of 300/One World Government forces pushing for digital
    money throughout the world – we may see them actually helping for the
    adoption of Bitcoin – and the elimination of cash. Once the vast majority
    of world citizens are using Bitcoin, then they will make their move to
    control it. But, in the meantime, since it dovetails with their goals, and
    they want to continue to keep precious metals down (while they corner the
    market), Bitcoin is their friend.

  10. wow a good show, A show about bitcoin that not full of FUD about other
    software. The original bitcoin idea was too to increase to 2mb… Other
    people came into bitcoin and wanted segway..

  11. Tone should know that providing market information to the masses can be
    construed as giving financial advice to his followers.
    I forgot the name of the rapper but I think he’s still in jail for tweeting
    to his followers how great apple had done for him and for all his fans to
    buy apple.
    They came down on him quick and hard.

    1. davematherly would love to read that story but I also make sure I stay away
      from individual stocks and companies, just general markets. (currency,
      Commodity, Equity Index). there is also no such thing as insider trading
      when it comes to these things.

    2. +Tone Vays correct, I was wondering how specific you get with your work on
      your site. The rapper specified apple, and suggested all his twitter
      followers to buy apple, didn’t take long before a grand jury indicted him.

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