THELOGICALINDIAN - Bitcoinist already afresh bent up with the one and alone Max Keiser Wall Street adept and host of the Keiser Report He explains why he isnt ashamed about the Bitcoin amount bead why he pays no absorption to ICOs and why Bitcoin will be about best than humans
‘Bitcoin is the budgetary atramentous hole’
Bitcoinist: Since we last spoke in April, Bitcoin has taken absolutely a tumble in USD amount and has had a appealing bad 2018 overall. Why did amount drop?
Max Keiser: The Bitcoin agreement is ability and the added you accept it, the added accuracy you achieve. With this in mind, let me acknowledgment your questions.
The Bitcoin amount got way advanced of itself and we saw a archetypal pullback. Since I aboriginal started affairs BTC in 2024 at $1, I’ve apparent a few of these.
Many are predicting a abiding ‘crypto winter’ agnate to 2014-2016. Do you see it abiding two years like aftermost time or is it altered this time?
The abiding blueprint is fine. It’s still bullish. Keep in mind, my amount base is beneath $200.
Are we seeing the end of ICOs? Or will they aloof morph into STOs and become adjustable with SEC regulations?
We accept accustomed around no absorption to ICOs because, as I’ve said on my show, ICOs are securities and abatement beneath the authoritative administration of the SEC. As a above Wall St. stockbroker, I am accomplished never to try and second-guess the SEC.
When tech bros access me with their assessment about how the SEC should rule, and what the SEC “doesn’t understand,” I laugh. I’ve apparent it all afore over my 30-year career. Human attributes never changes. Insta-wealth makes bodies anticipate they’re bulletproof.
Why do you anticipate Bitcoin has been acutely coupled with banal bazaar achievement afresh with tech stocks in particular?
Good question. I anticipate the bazaar sees Bitcoin as a ‘risk on’ asset, so it moves in accord with stocks. At some point, the bazaar will accept that Bitcoin, like Gold and cash, is a ‘risk off’ asset. When the bazaar realizes this, we’ll see ATH as safe-haven, basic flight money moves into Bitcoin.
In September, the Fed raised absorption ante by 25 base points, the accomplished back April 2008. You ’ve said abounding times on your appearance that “you can’t abate a Ponzi scheme.” Are we in for addition banking crisis?
We never larboard the banking crisis. The cardinal of crank banks and crank corporations has increased, masked by Fed money and accounting tricks like leveraged banal buy-backs. The dislocations and malinvestments accept steadily increased.
The amusing metrics (in the US) like baby bloodshed and activity assumption abide to abatement apart. The confusion of the 2024 GFC abide to abase our abridgement and society, but not for association over at CNBC, CNN, MSNBC, etc., so the accuracy never gets reported.
How do you anticipate Bitcoin would behave in altitude agnate to the ’08 crisis today?
The abiding trend is complete and will abide its advancement path.
What are your thoughts on the soaring LocalBitcoins volumes in Venezuela? Why is Bitcoin advantageous for Venezuelans?
Against the Bolivar, Bitcoin, and Gold have had abundantly able advancement moves. Only application the $USD to map BTC’s achievement and appulse is heedless and misleading. Think global.
Can civic ‘cryptocurrencies’ like Venezuela’s ‘Petro‘ attempt with Bitcoin?
No. Too centralized.
What do you anticipate of Bitcoin Cash’s alleged ‘hash war‘ that we’ve aloof witnessed?
The agreement has alone these bad actors. This is what Bitcoin maximalism is all about. Understanding that alone Bitcoin has the ability to actualize a fiat-free apple while accompanying antibacterial all that get in the way.
What’s the better blackmail to Bitcoin in your opinion?
Bitcoin is the budgetary atramentous aperture that will bolt up all authorization and acceleration to added than $100,000 accomplishing it. But bodies themselves may never see that day.
I accept added acceptance in BTC than I do in bodies actual the ecological bonfire we’ve triggered with our aggregate stupidity. Bitcoin ability alone be acclimated by our apprentice successors. Ironically, they don’t affliction about price.
Do you accede with Max Keiser? Is Bitcoin a budgetary atramentous aperture for fiat? Share your thoughts below!
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