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tv   Boom Bust  RT  February 1, 2018 3:30am-4:01am EST

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also lessons appeal he said stripes said it was clear most bitcoin users saw it as a way to make profits rather than something to make payments with as was originally in tended you know exactly right so the original white paper buster toshi not makes reference to digital payment system digital cash but it's not ready to be used as digital cash yet it's still finding its way as a store of value so as a store of value it's competing with gold we have irrefutable evidence that a lot of people that would go to be buying gold but bitcoin instead with a big coin price down as it is in twenty eighteen all of the money is going into gold and see gold is rallying love the money is coming from bitcoin so that's a store of value as i've said now for a while when it gets to that point just one hundred thousand dollars a coin you're going to see it start to become more of a mean means of exchange. it was a bit early in their incorporation of bitcoin as
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a back and payment solution but once you do see some still bill the at the higher prices then you'll see all these processors come back straight did say that they're still going to be involved in the crypto currencies and they're going to explore other cryptocurrency as including bitcoin once lightning network rolls out right now it's being tested in the tests are going quite well and we're going to interview the co-founder of lightning network which is a stark hopefully we'll interview her soon but regarding this means of exchange first says store value yes the markets decided investors decided in twenty seventeen that. it would not be necessarily means of exchange at this moment it's going to be a store of value back in two thousand and fourteen when stripe first started in twenty fourteen the san francisco based firm became the first major payments company to support big claim payments at the time stripe hoped it would become a way for people in places with low credit. card penetration are prohibitively high
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credit card fees to do transactions online but it said the virtual currency was now better suited to being an asset than being a means of exchange so back in two thousand and fourteen when you know of course we're covering it here in kaiser report. we use it as a means of exchange many people you know use it as a means of exchange you know people bought i phones with it and i remember it being exciting that you could buy an i phone with ten between and then once the market decided actually it's a store of value then it became a little bit frustrating that you had spent ten bit queen on an i phone well the invention was not to create a store of value it was a store of value it was a corollary or a byproduct of trading medium of exchange so to create that medium of exchange the big protocol inadvertently created a start value which then became the defacto primary reason people accumulated bitcoin now in the wake of this kind of transition or discussion about means of
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exchange or store value you've got other all coins of come around and there are competing in the trying to get into that space to be a more perfect solution for means of exchange and other types of variations come about but the entire cryptocurrency market itself is still on track to eclipse the global banking oleg aapl e. which is what we need what we want and i've always said it's a banks or a killer that's the primary use of bitcoin and cryptocurrency yeah and as our guest adela to force their heads had you know there is a hold on tourism going on for all of the coins even the ones that are supposed to be instant sound like dash the price goes up to over a thousand at the area are all the prices keep on going up which inspires the notion of holding a hold all as it's called in the crypto currency field. originally the original stackers the original holders are gold. the gold investors and. no which is
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a kind of end. to this to some degree would be steam and statement because you're constantly getting more steam when you're posting to the site your content and on days that it's might be getting less sundays that it's like you're getting more self statement you're dollar cost averaging steam by virtue of how they present content and pay content providers and they didn't set out to do that such a but that's the way it's turned out and so steam looks like it's going to be a way for people to accumulate crypt i want to dollar cost averaging just simply creating more content you know we spoke to some independent bloggers and bloggers at the miami because conference and they are really getting the state before and the last ten seconds before we go i want to say that online gold sales soar four hundred percent s. cryptocurrency so there was a four fold increase of holders zero dollars stacking into gold well so we got it to pick going to gold stay tuned for the second half a home up for them or more for.
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the much of. this little bundle of joy we would have muchos of saluting in the wood . this can only really one come a time but usually good business to. china puts a lot of effort into making up for this cruel mistake of nature. china's paying the breathing has become something of a production line. it's almost as though they've been in three d. printed and put on show for the public. several. dedicated scientists will be for nothing if you don't love can't be encouraged in captivity. it's not as though they don't practice until but in the same lazy way
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they do everything else this proud my main gate best to twins and has no idea that a special love potion was formulated just for the. fight for many clubs over the years so i know the game inside out. football isn't only about what happens on the pitch for the final school it's about the passion from the fans it's the age of the superman each kill the narrowness and spending student twenty million one fly a. book it's an experience like nothing else i want to because i want to share what i think of what i know about the beautiful guy great so one more chance for. a nice minute.
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welcome back to the cash report i'm max keiser time out of turn to carry a play narry what isn't by neary financial harry welcome great to have you on finally for having me on my huge fan of the show you know we've been following your career for a while and you're one of the stalwarts in the business tell us what's your investment does your company make in companies or directly into crypto actually sobyanin financial one of the larger and o.t.c. firms we stablish back in two thousand and fourteen and our main focus is we facilitate large block trades for high net worth clients and institutions so somebody wants to buy five or ten million dollars with a bit coin a theory and we helped facilitate that we also have a long bias to came and came in not only fun but i am going to vancouver. and singapore so what kind of regulatory hurdles that you have to overcome to get to this stage of the business this phase well actually most of the areas that we've
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been working with are in the united states so we haven't really had to deal with a lot of regulatory proceed but i'm our fund is kaman base so we have to softball came along and when we had a u.s. flag at the fall u.s. funded how's business grown in the last few years obviously it's been it's been booming i guess tell us the numbers with me going on. i mean we don't talk about specific numbers but i mean on any given day you know some on some of our busier days you know we'll clear anywhere between one hundred million and a transaction sometimes o.t.c. so trading volume even electronically from our trade is actually pretty high and right now just the appetite of money that's actually coming in. the this is he almost every o.t.c. brokerage is quite busy right now yeah how do you deal with the volatility is that an issue for you your market maker to keep inventory on hand and we love volatility i mean traders trade and we're traders first so to kind of ask your questions we're not really on the p.c. side are we doing the best in i.c.a.o. has but the number one thing we look for is liquidity so. for us trading volatility
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is. best friend so we almost all right so let's talk twenty eighteen what are the themes emerging from your point of view what will we be saying i think what you're going to start seeing and restarting to see already is that a lot more of the sovereign wealth funds and even countries are going to start hedging by buying bitcoin an alternate crypto currency is not because they want to but they need to so there's already been channels and dialogue that we've been talking to some people about where they they're actually looking at purchasing bitcoin to hedge against the deflation of the euro ok so this is really fascinating to me because it kind of anecdotally our instinctively i've been saying hey you know how these sovereign wealth funds are going to start nibbling at this central banks is going to start moving into this year uniquely position on the trading desk dealing with i networked individuals and institutions and so you're saying from we're seeing at the table that yes you believe that trend wall merging twenty
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eighteen sovereign wealth funds of saddam merging it's already happening but people don't i mean our minimum trade says half a million us add up all the desks sots all the desks so you start to see kind of what's going on and even in the news you know even time from j.p. morgan is actually apologizing for big points or a lot of the banks now starting to see that their wealth management departments we speak with a lot of companies just even on the consulting side on the banks and everybody is trying to understand sas a class because it's the number one performing alternative asset class so forget about it for us we're really more on the speculative demick the price trading side so for us having a good good healthy price of bitcoin into the currency is extremely important because it's a barometer of the health of the industry just like while in gas if the price of oil isn't doing very well then the rest of the industry suffer so i think that's what you're starting to see right now is you you really can't ignore the price of big points almost at a trillion dollar market cap for all crypto currency you know in a time just recently there was an idea that the banks and the central banks would
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figure out a way. it detail the big clean freight train and it seems now we're at a time when that notion has expired and right the central banks of these large institutions the sovereign wealth funds are now capitulating to the fact that they're going to have to get in the game and the game theory that's in parent in the protocol the way that the interest of all parties are balanced to create this competitive environment of the distributed network and if that jumps up to the state of the central banks will we see central banks trying to outcompete each other to get the biggest position in bitcoins i mean that's very interesting because if you look at gold historically what a lot of the larger g eight countries have done to you is they'll start accumulating massive positions and goal. there's only twenty one million bitcoins so you can imagine it's not even enough to call in for one person for every person
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on the planet so. you're going to start to see a lot more of the crypto currencies i think central banks right now are humans exploring the possibility ideas of tokenized their own. does not yet fully explicit in other words a centralized point put out by a bank is really the antithesis of that point i don't think so because what you're just going to end up seeing is more use of wake up launching technology so any type of government entity. becomes a fad of locked in and you just validating the technology itself so it becomes a self-fulfilling prophecy so i actually think twenty eight hundred twenty nine thousand going to see monster moves up and down in a currency because so no real effective way to really hedge power than if you just contracts going i mean typically that would be edging contract as a performing us such i think the issue with the futures contracts and we see we've seen this before is that bitcoins decentralized so the only reason that traditional derivatives in options markets work is because they're priced out of one central exchange same with currencies you can actually hedge against yet hearst's but how
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do you hedge against something when. there's five or ten percent spreads going to different markets even on a weekend so i think right now the only true futures market you really really see that's going to be affected as bit next and there because denominated futures because i think we're going to be moving towards a world actually we already started thinking in bitcoin terms when we trade and not necessarily u.s. dollar right something hyper a big point is nation mindset is that seething into the daniel crowds and i believe i've got your name dragged this time and you know how it's done this to toshi into this idea we hit the hyper big money nation world of denominating things to that point yes you're seeing that an institution already doing it already and for us it's going the exact opposite direction because when you talk about dealing it's a toshiba you don't have a comma it's much more difficult to figure what decimal places than it is because it's good it's the reverse because things are actually worth less relative to big
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point but when you're talking about dollars you have inflation the price goes up so what country in your view conic gets it more. than other countries like us or a country that seemingly understand it's really going on and i think all the countries get it what happens right now is people always have a fear of the unknown it's almost like the same thing that happened when the internet first came out it was kind of a novelty but you know first came out it was an all too and a social networks came out before they became a utility there's always a lot of pushback when you come and comes to initial technology but because crypto currency is the single biggest innovation to happen since the internet and possibly . the biggest financial innovation since black holes in the office of pricing model whatnot so i think. it's the same thing with liber but the taxi regulators. you're going to start seeing a lot of pushback first but then you're just going to start accepting the fact that you can't ignore them don't prince you're watching now there's a big ice in the pipeline for the telegram to corporate i.c.a.o.
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what do. you mentioned you aren't involved in ice yet tell us a little bit about this if you're covering it what do you see here is what it what's going on that is every bit a lot of interest on the telegram i assume we're huge fans telegram we use the product. it's one of those amazing teams and stories out there where they've raised literally no venture capital it's all self funded really really smart guys it's going to be a blockbuster i mean we're going to buy into it is this the beginning of a phase where corporations now going to be issuing their own blog chain and is that just following up on that or is it really going to this is the enterprise and when it is amazon going to come out with something as google as apple. and is it just chasing something that they're not really clear what's going on or is this going as a something more here and something more because if you look at how much additional venture models actually work companies have to raise money through you know in a series a series b. what you're starting to see now is tokenized securities so if i right now all the
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tokens i use your utility tokens so companies like that's he's your own polymath they're tokenize and securities on the block chain and we invest in one of the earliest companies tokenize a secured copycat so any kind of security is going to be under regulatory scrutiny so right now i think what you're going to start to see twenty thousand and twenty nineteen is a migration to the block chain so that people can actually raise securities on the watch a better regulate by security so be capped block chain capital last time a product here up here is a fun now and twenty a team started with a big sell off of our veterans of the space we've seen these before a lot of newbies kind of come in the last six months came in a twenty seven team heard about it and they jumped in with both feet in the one thousand nine hundred twenty thousand what we do or what would you say to folks in that in that in that kind of position they're new to space and now they're they're seeing some some big selloff what how do you handle it i think. let me let me tell everybody that's they're getting into the space you know don't. risk only what
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you're willing to do so that amount and say take ten to twenty percent. have a quick net worth and really kind of get comfortable with the space don't just bet everything because at the end of the day it is extremely volatile you know not too many people can stomach thirty percent drops in a single day you know we've been through it enough so that we've seen kind of how this market actually works. so that would be the best advice is just understand that this is an extremely volatile os and if you're going to be buying don't buy all that one scale into a position so if you have ten thousand dollars that you want to buy instead of buying all ten thousand dollars at once maybe buy a thousand dollars every week for like a few weeks so that it spreads out and spend solid tossed averaging exactly right that's an old wall street track if you well you put in a set amount on a regular basis up it's high on a buying last if it's low you end up buying more and it takes the emotions yeah out of your actually one of the best strategies that we actually used from for myself was i bought a big coin every day three years so i put a little bit away every single day and did some days it was hard because you're
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like oh my god it's so high that sometimes it's so low so that's actually a good a good strategy is just even put a little bit away every single day the discipline just approach it that way and so this is how would you lot of talk about is it is is it a commodity is it a currency is it a duck billed platypus as some have called a home actually it's a hybrid. the best we did as i described cryptocurrency is a not just because it is that they have all the have all the features of cash which is a cash commodity cash and a commodity and a currency because it has all the properties of cash but without the weight without the inflation and has all the properties of gold built up without the weight and the deflation it's the perfect product and the perfect there's not a more perfect elegant product that's ever been created in history but we're going to leave it right there on that note thanks so much being on cars and going for having me excellent and you all right well that's going to do it for this edition
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of the guys report with me max geyser and stacey everett i want to thank our special. yes finally got him on air yeah a a binary financial if you want to reach us on twitter it's kind of reported by oh. here's what people have been saying about redacted and i was actually just pull along. the only show i go out of my way to find you know a lot of the really packed a punch oh yeah the john oliver of hearty americans do the same we are apparently better than blue jeans but i see people you've never heard of love redacted tonight i'm president of the world bank so take your money to the right maybe. send us an email. level for you on the idea that dropping bombs brings peace to the chicken hawks forcing you to fight the battles that will. produce offspring to tell you
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that will be gossip and to please myself most importantly. off the bad guys who tell me you are not cool enough to buy their product. all the hawks that we along with our. i want to show people of russia that there is another point of view of this is the goal of my complaint i know you can't win on the elections where only point to always wins for there is no sense of talking what would be if i would win i will never win on the elections laken because you know where all always because even though we. join me every thursday on the alec simon show and i'll be speaking to guest of the
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world of politics sports business i'm show business i'll see you then. forever. it. was. angry. that. her son. is just. so so so mother was. broken and so she was it isn't true egypt would put on so to be doubted she.
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has enough to say on that. to our youth. this little bundle of joy would have no chance of surviving in the wild mother pandas can only read one car by the time but usually give birth to two every year china puts a lot of effort into making up for this cruel mistake of nature if two cubs are born then to mr vive. turn to senior management to see him an. endangered species don't have to become extinct not if you take good enough care of them mr darwin's theories don't all hold good here.
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pender's way just one hundred twenty grams. saying they're still. here and kept him. see the counter and read buy stuff at the panda breeding center in the wild it's the mother who takes care of the young she just swallows anything the cub wants to get rid of. these might well be the most helpless little ones in the world as well as the most endearing and quite probably the most expensive. under is china's national treasure. even its coloring is a living symbol of the past and illusion to the home country. a balanced opposites . black and white light and. day and night sun the moon
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sky and earth peat and cold. oh. my god what a compass born it becomes the property of the people's republic of china. there's no getting around that law but zoos can rent pandas from the state for a limited period it's not cheap so they have to pay over a million dollars a year to the government. this is one national treasure that's guarded like the most priceless of jewels. they may be predisposed to laziness but pandas still wake up early and that means their keepers have to as well. and judging paying work at the panda center starts at six am i was there the while i told. you the thinking and the thing about.
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mama. rule one meaning and ohio. sound and i don't think our boy there. and. knowing that there's a lot out. there human being that this care piece and this one is. i don't know how to spell this is for your dog and leave her pets yeah one year over the. years that is why. you meet them and. it's not just to focus interest but that's it you're going to chew trudeau talk. to the show told. to the sugar so it was just just delicious you would do it all the time.
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at it and so there's that element you know all the obvious that you see you know that on. this. set. to die some logical. treatise and it. uses anything. to mislead us and see to attend. to them for you know we. did that. you could be lucia to. juggle the cheese and to do that. to get to a holiday tradition would you think legal. which is how. mattel oh well you know you can go there to go. to do i don't feel your hot food
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hot. she was so you could use them all. but in. china's panda breeding has become something of a production line. it's almost as though they've been copied three d. printed and put on shows for the public. good. the. the panda breeding center isn't just a first rate to the bar a tree it's also a zoo where anyone can go to see the fruits of china's breeding program through fifty eight one that's around ten dollars. so if you know how we're going. to. meet with i would do well there were.
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several cubs are born here each year. in two thousand and sixteen the panda was removed from the red book that visually it's no longer an endangered species but it is still vulnerable. building up the population is just the first step the toughest challenge for the breeders is still ahead. that will lead to your down so far for us you know us there's work. here you know where they're good. friends or who that would do it and you would you know. how ever years maybe even decades of work and needed to make that possible.
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then the. children. of these who say you know what i sense your. comments. well then it's and that's another area where you said that. mortality rate is just one of them he said.
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so. the why. of how to die out. by the mother's. pressure is that the guy down by one interest in my mind. your coat is only just. because it. was a you went home that's a good. idea that your house. because bamboo is such a low calorie food to get the nourishment they need. and the other just thing is. you really have to love pandas to do this from morning till night. the animal produces up to twenty kilos of droppings every day.


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