Trading Gold vs Bitcoin: Friend or Foe? (w/ Roy Sebag)

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Information Trading Gold vs Bitcoin: Friend or Foe? (w/ Roy Sebag)

Title	:	Trading Gold vs Bitcoin: Friend or Foe? (w/ Roy Sebag)
Lasting	:	47.41
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Views	:	52 rb

Roy is brilliant
Comment from : Angband Art

That would be a good trading pair
Comment from : SirFiggin

Warren Buffet says Bitcoin is for foolsbut he never tells us why Roy Sebag's explanation of what gold is, is very interesting
Comment from : John Sharpe

What happens when all the Bitcoins are mined? I assume the Bitcoins don't disappear So would that 5 production cost still apply? There would be transaction fees for sure But it wouldn't necessarily lose 5 of value each year would it? Just trying to get a better understanding
Comment from : BeHonestwithyourself

Why talk about bitcoin and ask bitcoin related questions to a non crypto person Hes not very smart here and people are probably brainwashed to believe him Especially newbies
Comment from : Kahoobb

At 12:43 Roy says Gold has the highest specific gravity of the natural elements This notion is quite false Platinum is more dense by a considerable margin
Comment from : GoodTexture GT

Interesting Gentlemen,Thank You For The INDEPT on BITCOIN ,ROY SEBAG👏🏻
Comment from : Robot Cameron

understand data is the new oil
Comment from : SBG

its about the future and the next generation they dont know what gold is and dont care to invest in it but they do in BITCOIN
Comment from : SBG

Does he not understand that we have already been on a gold standard before? yet we ended up in a fiat system Going back to a gold standard guarantees we end up back here again
Comment from : Karim Ghosn

I love that you give both opinions, the fact remain (evangelist or not), when the dollar finalizes it's debasement They have, can, and will confiscate tangibles first 😐brbrWho here as transacted in gold outside of converting it to fiat? 🤣 (I'll wait) brbrI've actually purchased things with BTC and ETH Also I can instantly convert to fiat for purchases (Cryptocom) for visa transactionsI have to go to a building and potentially get ripped off by some guy to cash hold in (lots of friction 🤷🏽‍♂️) vs actual real world utility brbrI see the point, but sitting on gold (the first thing governments collect) "if something goes wrong" doesn't seem any more logical Unless your old and that's what you know 🤷🏽‍♂️brbrOnce the regulators come in how will they take away Bitcoin? (They can't) banking system are LITERALLY doing all the things he said they "can't" do 🤣🤣🤣brbrThis is the polar opposite view, I love it, but literally pulling the most narrow negative points Time will hash out the truth brbrI did enjoy the exchange, however cringe worthy 👍🏽
Comment from : Reckless Ray Dinero

Blue shirt guy are intelligent mind but in his entire life will never understand how important Bitcoin Smart mouth but not smart brain
Comment from : than chau

17 year career??? has he been working since the age of 4???
Comment from : o JJ

no cryptos wont replace fiat by it self, it would have to be backed by precious metals
Comment from : mrcr45

So many factual inaccuracies in this video
Comment from : Grinners The Wizard

I gotta say, this is HANDS DOWN the best video on gold vs Bitcoin Loved the mathematical/logical perspective
Comment from : champstar9669

Bitcoin is just like ebooks No electricity means no bitcoins, no ebooks, no credit cards, no phones or internet That's the weakness of anything that uses electricity In war times or in natural disasters, chances are you don't have access to electricity You need something physical in your pockets that don't rely on electricity In a mad max world you rely on things old schoolers uses to bring back civilization High tech stuffs will just be useless stuffs in times of disaster In times of real trouble, choose things that don't rely on electricity to operate at all A knife is far more useful than a gun without bullets in a disaster
Comment from : Quantum Chang

Cost of running gold money? Government turns in to fiat and funds murdering 10 million people over 70 years and bankrupts the pensions of a billion people Your argument is invalid Warehousing gold is a cost Warehousing btc mining gear is making money Like all these guys assumptions are upside down
Comment from : Tenebrousable

This guy claims he is a bitcoin miner? He doesn't sound like one he seems kinda clueless
Comment from : DaSmith

The analogy on the mining misnomer and fungible legos exposes the pseudoscience that so many purport Well said Philosophically Scientifically
Comment from : Robert

I'm full into bitcoin and I like to have contrarian thoughts once in a while The thing he misses I think is that a bitcoin holder is incentivized in running its full node and start mining as it gives value to the network so in a sense the promise is made with oneself as someone grows its knowledge The more people get interested the more nodes and Hashrate the network will get Combing this with the halvings and you get the perfect storm
Comment from : Nameinvideo

Great video Keep Gold and buy XRP
Comment from : Stephan Venter

Value your gold mine today, what’s your store of value two years ago, and now see what that value is two years from now
Comment from : Curious

There is no debate which is easier to divide, send, or store As for store of value, another two halving’s you’ll understand
Comment from : Curious

Never sell it? I’ll sell it in increments when I get my first social security check I’ll buy every week I work
Comment from : Curious

Send me $100 off your gold ounce I’m in Greece, I’ll wait
Comment from : Curious

Once a bitcoin is mined it is mined into existence, just like gold
Comment from : Matthew Quinn

Gold is to the body as Bitcoin is to the soul
Comment from : Gunavan HY

A gripping interview, sobering and real I love how Roy presented himself I’d pay to watch a discussion between Roy and Revered Bitcoin proponents The real discussion here is how do we stop the debasement of our time/money
Comment from : We3K1ngs

this dude is just bitter because he sold in march at the market bottom thumbs down
Comment from : samsaraa

Which still also begs the question, why is Russia and China buying thousands of tons of gold but zero bitcoin??? Those idiots!!!! What do they know??
Comment from : Irrationally Exuberant

The blockchain is much smaller than 580GB He might be confusing his facts with ethereum Also there is no requirement for mining power to grow It can reduce back to levels seen years ago and the network will still operate fine
Comment from : Grey Dog

WoW 😮 that was very solid !
Comment from : SY B

Roy must have an education in philosophy, he approaches the conversation as a philosopher but misses the mark in the points that matterbrHe argues that Bitcoins Incorporeality is a problem in as much as the system needs to be maintainedbrI would agrue that nature itself isn't any less Incorporeal, it requires other systems for it's survivalbrInteresting conversation but I'm completely unconvinced
Comment from : Whatis Thetruth

It is true bitcoin is like any other stock/security The only difference is the "bitcoin org" has expenses of $15 million per day in electricity, yet no income other than what they get from selling more shares (1800 bitcoins) each day to new gullible shareholders Anyone who owns and trades stocks should understand this Lots of stocks are in a bubble and not tied to the company making money any more Hardly any companies pay dividends amy more so the company provides nothing to its shareholders They just rely on future stock buyers to keep buying because "stocks always go up long term" Ha! We'll see! All of it is crazy IMO What a gambling society we have
Comment from : Liberty Springs

The opportunity cost of selling my gold for bitcoin was worth every penny!
Comment from : Todays narrative

This gold grandpa does not understand Bitcoin Do not take him too seriously
Comment from : Parabolic

"supereasy to shut down"eh okayehno, not realy
Comment from : bslangable

Stupid grayscale campaign , no reason to not own BOTH
Comment from : bslangable

IT"S NOT LEGOS ! IT"S LEGO! jeez;)
Comment from : bslangable

The reason we spend all that money spent on defense is to make sure someone doesn't come and steal your legos You HAVE to therefore count the cost of security as a "negative interest" against the value of the lego The metal doesn't just sit there the metal needs to be guarded If the government knows where the metal is, it can be taxed and controlled since the government has the biggest gun The metal doesn't care about ownership and can only exist inside a vault BTC is wrapped in an envelope of ownership, unaccessible except through thought and cooperation The wrapper of ownership is a truth machine because the instant it is traded (behaving like a lego) it's value is revealed and the deal completed immutably according to the mathematics of a permanent ledger The laws of thermodynamics are state systems They have a beginning aka state 1 and an ending state 2 What happens in between 1 and 2 is not relevant to the system, only the difference between 1 and 2, pre event and post event, such as in the transfer of wealth are relevant If the transfer is instant permanent and public across all stake holders the laws of thermodynamics are met Frictional loss is a measure of the efficiency of state transfer and is merely included in the process of state 1 going to state 2 Yes it costs you something to own (not just mine) BTC It costs you as well to own gold
Comment from : Lee Crocker

Just like watching two cab drivers discussing UBER, they reaffirm their narratives, it's a waste of time Would be nice to have a discussion between 2 people with different perspectives who could challenge many of the things they say
Comment from : Julian Diaz

Criminal cartels are using bitcoin for money laundering purposes That's an easy excuse for the government to criminalise the use of digital currency except for their own of course Bye,bye bitcoin
Comment from : iampennochio

I´m disappointed that someone from Goldmoney talks a fair bit of nonsense
Comment from : j bloggs

45:40
Comment from : Papote Yata

Conclusion @ 43:55 mark
Comment from : Stanley Paez

total waste of time this is the best response from gold bugs?
Comment from : CS Ang

People also wear gold jewellery to signal that they are wealthy Same reason they wear luxury clothing This allows people to entice others to respect them, co-operate with them etc
Comment from : Joji Antony

This is a brilliant video! I’m a die hard crypto advocate but open minded to listen to other arguments It’s amazing people down vote just because they want so badly to “get rich” and don’t hear “to the moooon” Great jobs guys!
Comment from : AlexJ wokeup

Using fiat seems to me to be the best way to run an economy but it requires truth and transparency Of course there are greed factors But even crypto and gold require honesty, truth and transparency Democracy requires it too The question is which requires less or which operates best at what levels of truth which also includes truth about making war The problem we are seeing is this lack of truth We need to get back to truth, honor, transparency with our people including our justice systems
Comment from : Tim Steinkamp

Bitcoin may be the best way to burn shit coin that is Fiat It's like a sponge for shit money
Comment from : Sergio

Am I missing something or is Roy one of the biggest hypocrites I have ever heard speak; owning a large stake in bitfarm and hence huge stakes in mining and in the same breath complaining about the waste of resources mining causes Unbelievable !!
Comment from : Robin S

We are witnessing the crossing point where we transition from assigning value to physical assets like land, oil, and precious metals to a digital landscape that future generations moving forward will become more comfortable with as technology advances As VR and blockchain technologies develop, new virtual worlds will be created for us to explore and eventually conduct commerce through Digital assets such as virtual land, data, and digital currencies will underpin a new global economy without borders or central authorities, allowing a culture which spends more time in the online world than the physical to truly engage in an open world free market economy I for one am fucking pumped to be able to participate in this paradigm shift
Comment from : The Block Runner

2 yung gold buds of witch we will amuse in 10 years!
Comment from : MOC COM

Amazing interview, thanks! Roy Sebag is always brilliant and very interesting to listen to
Comment from : Mats Andersson

I'm more than 6 minutes in and waiting for any substance from this viewing still
Comment from : evan tho top G

Finally someone with brains on the “other side” !!!! Please debate Andreas
Comment from : Leonardo Alcanfor

I mean The whole mining cost too much and to many resources argument is a non issue for me I would think the halving which they didn't talk about reduces overall cost(by cutting out the smaller miner players as the profitability of mining is reduced from what I understand)and would probably centralize mining more than it is already Which I dont think is necessarily bad But it could be should they decide to 51 attack the network, but mining wont be a forever thing Once theres 21 million mined that's it Your negative yielding bond issue goes down the drain? He needs to understand it's a digital age, and that bitcoin which is the heart and soul of blockchain technology just makes more sense given the time Our four fathers knew a private bank that prints paper and loans it for interest would be a disaster but it happened anyway Its does concern me that a very small percentage owns almost the bitcoin I would assume it's like 10 owns 85 of the supply But thats also probably a non issue as 1 owns all the money in the world already if anything bitcoin levels the playing field just a tad or just enough anyways the supply is centralized and so is the mining process Can that stop it from success? Who knows what if bitcoin wins because of its centrality and the ability to track down every single satoshi and monitor the monetary system on a global scale Nonetheless looks like theres room for both
Comment from : J Fresh

As someone who would probably be considered a Bitcoin Evangelist it is always great to hear different opinions and this is one of the best
Comment from : Dillion Parrish

so what happens when all the Bitcoins were "mined" who will sustain the network?
Comment from : HM

>he doesn't realize that the energy cost of bitcoin is bitcoin's price floorbrbrbrmissing the forest for the trees lmfao
Comment from : squarecracker

What is the volumetric space of all the worlds gold mines? All the worlds gold vaults? All the worlds gold refineries? They don't just mine, refine, and leave it lying on the groundThey don't just pack up and leave after one year of mining It's a huge amount of area and resources How much energy does it cost to runs the worlds banking industry? All the computers and servers used in the banking industry that need replacing every four years, how much do those cost? I'm sure Bitcoin costs less
Comment from : sciflyer67

this guy goes on forever let me sum it up for you I didn't make enough money in Bitcoin Ergo I don't like Bitcoin anymore
Comment from : Rice Realtor

@aantonop Please talk with him!!!!
Comment from : Jonathan Dilin

The abstraction argument doesn't hold it 's like saying we should stop using email and go back snail mail
Comment from : RORY BELL

He screws up when he starts mentioning a 5 decay rate, revealing his logic is faulty Don't most of our corporations run at a 5 decay rate, trailing 20 times earnings? (5 times 20 is 100) I'd say even this is a poor comparison because the largest expense of most businesses the labor costs, often eating over 50 of all income (even before profits) and it is extremely rare to find any business that has a base value 40+ times greater than the annual investment required to keep it running at the same (or greater) level of productivity Most businesses dream of very meek 1 to 5 profits annually, with hedge funds yielding some 8, even the best investors average some 25 per year, but Bitcoin has been by far the most profitable asset class for many years now, much more than gold Though that commercial about dropping gold is retarded, it does hold true that trading digital currency worldwide is extremely easy when compared to that of exchanging gold As a Bitcoin miner I am perfectly happy with 95 profit year after year (5 decay) it's my rental properties often only operating at 50 profits that are a failing enterprise when compared to the profitability of my Bitcoin mining business, though I am also happy with 50 profits because I know that even my failing business outperforms that of those like Warren Buffet who are respected for meek earnings of just 25
Comment from : Timothy Michael

Note, his conclusion at the end of the video is that Bitcoin will act as gateway back to a gold standard, at which point it won't be needed and more Guy is 100 a gold bug and thinks Bitcoin is ultimately worthless and will fail as a global currency/store of value
Comment from : supercal333

BITCOIN smart contracts are been developed like Schnorr Signatures, MimbleWimble protocol, RSk, that secure the network as well as makes it immutable, and scalable and adoption is currently taking place There are more smart contract been developed for bitcoin to be use independent of fiat Been inform instead of bashing Bitcoin is the best way to accept the new changes of decentralized finance
Comment from : CryptoLeague aka-CryptoNene

31:56brbrPeter Schiff mentioned here
Comment from : TheMightySyringe

The more I listen the more annoyed I get So many misleading statements about bitcoin being made here He is so obviously a gold bug
Comment from : supercal333

Wrong again Miners have made no promises to bitcoin buyers No more than fiat issuers have made promises
Comment from : supercal333

Wrong Hashpower doesn't govern transaction speed Difficulty adjusts if hashpower drops Bitcoin network would still work if there were just 100 miners
Comment from : supercal333

Its Seems Nobody wants to simply admit that bitcoin's intrinsic value is based on its ability to access the black/gray market economy through the dark webif that portion of the internet closes, crypto losses all value
Comment from : rupertpupkin27

Gold advertisement
Comment from : HowboutThese

lots of false statement about bitcoin
Comment from : Ritesh Pokhrel

Great video Best one yet
Comment from : Michael Angelos

This guy wants to ignore all the benefits Bitcoin brings while at the same time highlighting it's weaknesses while putting a huge emphasis on gold being a physical element Very biased opinion His argument that there has to be continued mining for Bitcoin to work is like arguing that walking is far superior to flying in an airplane You have to trust that hundreds of mechanics and engineers have maintained the aircraft, that the pilots will show up, that the jet will be properly fueled You pay money up front and you just accept that all of these things will happen and it costs soooo much money and it's such a burden With your own 2 feet, you need to accept promises from nobody Just walk! Walking is far superior! Nevermind the fact you literally cannot walk to Australia from any other country Let's just ignore that
Comment from : Eli Hudson

Better than listening to Peter Schiff Still bias in my opinion Don't see why gold and Bitcoin can't Co exist
Comment from : Sylver Chavez

Gold versus Bitcoin makes no sense Basically the same team Value of both of these should and will grow against Fiat I have no gold and only Bitcoin, but I still found the Drop Gold campaign to be a bad one I'm looking to get in before the eventual blow out of its apparent price suppression I know its has finally broken out some but seems like it has a long way to go #dropfiat
Comment from : Damon Warlick

gold isnt decentralized its mined by only like 5 huge companies they control how they mine therefore controlling the price of gold it sucks
Comment from : F13 Media

Both gold and bitcoin will outperform the USD , bitcoin will do a lot better
Comment from : mustaque ahmed

How can you trust that the gold is there?
Comment from : antzkr

Btc is fake fk
Comment from : VRS

Such a pleasure to listen to intelligent people have a conversation like this Long Gold, Silver and Bitcoin
Comment from : Rudi Starcevic

This dude talk about straw manning and misleading
Comment from : CloverPickingHarp

How many time have you double your investment in gold since 2010 to present? Bitcoin only 35,000+ times
Comment from : Extrinsicvalue Gera

Roy is correct The gold and silver will not have to be lugged around once it is tokenized on blockchains
Comment from : Press Play

This Sebag fellow is aspiring to be a vulture capitalist He wants to be the next Carl Ichan Make billions at the expense of hard working ‘middle-class’ people People such as this should be denounced and discredited!
Comment from : 4ANewDeal