4.6 • 3.6K Ratings
🗓️ 15 April 2018
⏱️ 49 minutes
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In 2017, we saw Bitcoin grow by over 1300%. Ever since the start of the new year, however, things have been pretty ugly, with a year to date performance of -50%. So what in the world is happening? Is bitcoin still the darling new asset class that so many people believe in, or is something more frightening on the horizon? Well, on today's show, we are going to have a little discussion that covers both sides of the argument. In one corner we have Tuur Demeester. Tuur has been an investor in Bitcoin since the early days when one coin was only $5. Since his initial position, Bitcoin has grown by 132,000%. Tuur has a huge following with over 159,000 twitter followers because of his in-depth ideas and comments about crypto currencies. On the other side of the argument we have the talented Erik Townsend. Erik is the host of a very popular investing podcast called Macro Voices. Erik got his start as a computer programmer and by the age of 17, he was already an independent software development and design consultant. Erik is an entrepreneur that has built successful tech companies and he's also the founder of his own global macro hedge fund.
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0:00.0 | You're listening to TI-P. |
0:02.5 | So on this week's show, we continue our Bitcoin and crypto debate with Eric Townsend and |
0:07.3 | Tour de Master. |
0:08.7 | If you missed the first part of our conversation, you'll definitely want to go back and listen |
0:12.3 | to episode 185 first, because some of the comments might not make sense or be a little bit |
0:17.6 | confusing if you start right here. |
0:19.8 | So if you're ready to start the second part episode, sit back and we hope you enjoy. |
0:27.6 | We are listening to the Investors podcast where we study the financial markets and read |
0:32.7 | the books that influence self-made billionaires the most. |
0:35.9 | We keep you informed and prepared for the unexpected. |
0:48.2 | So I'm sure both of you guys see vulnerabilities or weaknesses or issues with moving forward |
0:53.9 | with Bitcoin. |
0:54.9 | I don't want to highlight what both of you think that those concerns are. |
0:58.1 | So Eric, since you're the main critic, you can lead this one. |
1:01.5 | What's wrong with Bitcoin and why do you think that it's not here to stay? |
1:05.1 | Well, ironically, I think that the biggest criticisms I have of Bitcoin are actually its |
1:10.9 | biggest features and I happen to love those features. |
1:13.3 | So let's start with what those are. |
1:15.7 | Bitcoin is designed so that you make a payment and that payment is persistent. |
1:19.7 | It's a done deal. |
1:20.9 | Nobody can undo it. |
1:22.5 | There's no charge back where the bank decides to unwind the transaction. |
... |
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