December 19th from NYC: This turned out to be an excellent episode. A lot of the conversation revolved around General Economics as much as Bitcoin. Here is the TLDR:
1:05 – Bitcoin Rally: We talk bitcoin price and the news that it is once again the best performing asset. The price was around $780 at time of recording and I show charts where I’m expecting a swift rally to all time highs of over $1000. I also talk about how India and Venezuela are not having that much of a direct affect on the price rise but them being in the news and richer countries taking notice is a reason for some of this rise.
32:20 – Fed Rate Hike: We get into a long economic discussion about the Rate Hike. I do not think it has any affect on Bitcoin and very little affect on the overall economy. The Fed is like a dog chasing its tail. The market has already decided that rates need to be higher hence yields on Gov’t bonds already went up, so the Fed needs to keep up. On the flip side, one of the reasons why the rates whent up is of course due to the expectation that the Fed will raise rates hence we are back to a circular self fulfilling prophecy. I also discuss how the rise in rates should not affect stocks. We also get into the history of the Federal Reserve and I take the side that the original reason for its creation was not as conspiratorial as many think in relation to Jakyl Island. It also had a lot to do with the the 1906 San Fran Earthquake. For more on this topic please see the links in the following post from about a year ago. At the end I talk about why i’m looking for a 2-3x increase in stocks over rest of the decade.
1:13:15 – Predictions for 2017: I am very optimistic on the price of Bitcoin into August 2017. I would like to see Netfix offer an ala-cart service via Bitcoin. I’m also not looking forward to the ETF and i also talk about why i think ICO’s will start go away and regulators will bring the hammer. I also see Bitcoin dominate the market of crypto and get back to 95% of total MCap.