Bitcoin Officially Declared a Currency: What's Next for GOLD? | Rob Kirby

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  • Published on Jul 19, 2019
  • Gold market insider and proprietary analyst Rob Kirby returns to Reluctant Preppers to answer YOUR questions about what's next for Gold, Silver, Cryptos, the Fed, free elections, and the financial collapse!
    Buckle up for this one!
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Comments • 280

  • Kirk Johnson
    Kirk Johnson 3 months ago

    The definition is VERY important in the move toward regulation. The government will eventually ban financial institution transactions in bitcoin- effectively gutting the value. Game over for bitcoin.

  • Robert Spitz
    Robert Spitz 3 months ago

    the banks are creating free money from nothing and buying gold with it. Not contracts, REAL gold. Of course they are going to keep the price low using their fanciful pieces of paper.

  • endgame
    endgame 3 months ago

    Gold is not money that's why the Central banks are buying hand over fist oy vey.

  • 1SmallDaddy
    1SmallDaddy 3 months ago

    Bitcoin is currently at $10,000.17, it hasn't gone anywhere for weeks.

  • 1SmallDaddy
    1SmallDaddy 3 months ago

    Mnuchin was asked about bitcoin, but he said he would never buy bitcoin.

  • C. Michael
    C. Michael 3 months ago

    Rob speaks as if Sēsanor Drumpf has some type of say 🤔🙄theweek.com/speedreads/653354/trump-only-stayed-afloat-because-banks-judged-worth-more-alive-than-dead-lawyer-says

  • Safet Hamzagic
    Safet Hamzagic 3 months ago

    Bitcoin has another 100 yrs before it becomes anything close to being a currency..rage our

  • Latro Geniwile
    Latro Geniwile 3 months ago

    Munchkin didn't "admit" anything. He misspoke. One of the few times I have to disagree with Rob.

  • busymountain
    busymountain 3 months ago

    The government will favor a crypto they have a back door to. That’s all they really care about is being able to control individuals. They are doing this in the name detecting terrorist activities and criminal organizations. My guess is they will settle on BSV as the philosophies align.

  • busymountain
    busymountain 3 months ago

    Bitcoin is in-no way decentralized. 100 wallets own 95% of all bitcoin. However crypto currencies can be decentralized and private with the right coin and wallet distribution. Government will buy what the people use as money.

    • Swapster .com
      Swapster .com 3 months ago

      That's just false info... you're speaking out of your ass. Coin distribution is far more distributed than your statement. Facts here.
      medium.com/@BambouClub/are-you-in-the-bitcoin-1-a-new-model-of-the-distribution-of-bitcoin-wealth-6adb0d4a6a95

  • Brad Hollinger
    Brad Hollinger 3 months ago

    Crypto’s going up is because the Chinese are laundering currency out of China !

  • Archie Pilcher
    Archie Pilcher 3 months ago

    There's a satellite that is constantly pumping out the blockchain lol

  • TheFacekissers
    TheFacekissers 3 months ago +1

    Thanks Rob. I trust your observations. We are walking in a mine field. You are leading, guy.

  • jackkoo1234
    jackkoo1234 3 months ago

    I just love BITCOIN so much until the internet is taken down-- If you cannot touch it you do not own it.

  • Cosi Fan Tutti
    Cosi Fan Tutti 3 months ago

    Seems to talk a lot, but say nothing of any substance

  • ronald reagan
    ronald reagan 3 months ago

    KEEP BRINGING GREAT MINDS GOOD FOR RELUCTANT PREPPERS

  • Trisha funinthesun11
    Trisha funinthesun11 3 months ago

    They can shut down the banks too so it doesn't matter if it's cryptos or your credit card. Yes you can use cash but if the system is shut down the stores close.

  • Jo Do
    Jo Do 3 months ago +1

    Why would bitcoin go up just because a bankster says it's a currency!? That doesn't change the fundamental value. Gold is now a tier one asset again. THAT is a game changer!

  • George Kubu
    George Kubu 3 months ago

    Out of touch I’m afraid rob crypto is the future you dinosaur

  • Louis Millevolte
    Louis Millevolte 3 months ago +2

    How critical is the power grid to cripto, bitcoin. Not critical to precious metals??

  • User Name
    User Name 3 months ago +1

    "As a responsible person". That sound bite has been running for too many years and needs a replacement. :-D))

  • Mark Wiseman
    Mark Wiseman 3 months ago +1

    Rob Kirby is "THE MAN!!!" :D

  • alray
    alray 3 months ago

    BTC / LTC blockchain is the future, not metals

  • Spy Cam
    Spy Cam 3 months ago

    BTW, I think everyone should own and hold both Gold bullion and BTC for a real diversified portfolio along with other valuable assets.

  • Spy Cam
    Spy Cam 3 months ago

    I really like Rob, but I disagree with his prudent comment as it relates to BTC. It is very prudent to own BTC in your possession in your own hardware wallet with you controlling the private keys.

    As a matter of fact I think you would have to be stunningly stupid, imprudent and a moral hazard to your own financial future to not own some BTC........today.

    Rob will be buying Bitcoin in the future at much much higher prices.......guaranteed.

  • RiffRaff
    RiffRaff 3 months ago

    Fait is rubbish, gold is to difficult to trade quickly with and you have to trust the people who say they have tons of gold when they don't. The gold standard was ended in 20 seconds by one man (Richard Nixon) that's how secure a gold standard is, one man, 20 second, and it's gone. Crypto better work out or the whole world's food and goods trade will cease to exist. Hope that Crypto works out and buy seeds in case it doesn't.

  • Southeastern Ohio Honey Bees & BBQ

    When crypto market caps reach that of an actual world currency the bankers will have all the funds they need to bail in and wipe the slate clear.At the point they steal all of that they will then promote all the gold they've stolen, It's a win win for the bankers unless you have it out of their possession.

  • Matt Moore
    Matt Moore 3 months ago

    All these people commenting need to do there dudiligenc on Bitcoin before they get left behind. Digital age comes with digital money that is far more superior money than most realise.

  • Ender Wiggin
    Ender Wiggin 3 months ago +1

    He’s naming it as a currency so that the US government can claim it’s an illegal monetary system. “They” know the USD is going to zero, either by inflation or default, so they will “need” to destroy all competitors as they go down.
    This is how it will go.
    1. US goes into recession
    2. Deficit spending doubles
    3. Government prints currency Taking interest rates below zero.
    4. People pile into crypto’s and precious metals.
    5. Foreign holders of US debt see the printing and sell US Treasuries.
    5. Hyperinflation
    6. Government tries to close down crypto’s and tax metals and change gun laws.
    7. US government wages war on own citizens.
    8. US collapses in civil war.
    9. US is obliged to conform to a gold standard before the rest of the world will trade with it.
    10. US returns to being a republic under the rule of law.
    11. Now that government and citizens are equally under the rule of law and sound money the country prospers again.
    12. Then pigs fly

  • Joe Taz
    Joe Taz 3 months ago +3

    Challenge: count the number of times he says "OK"

  • Ian Cassie
    Ian Cassie 3 months ago

    ROB im still going to try and be a happy slave ,and try and use the system rather than the system using me probably NAIVE, but when the smoke clears the metals still look sensible ??

  • Press Play
    Press Play 3 months ago +1

    Precious metals will all be tokenized. that is the only way they will ever be used as currency again. people will never exchange coins, and governments will never legitimize their fiat. cryptos will be exchanged for gold and silver, some will be tokenized as vaulted gold and silver.

  • Drake Savory
    Drake Savory 3 months ago +3

    You guys seriously missed the implication of bitcoin being declared a currency. The Supreme Court ruled that the US confiscation of gold in 1933 was legal because the government has the plenary (fundamental) power to control currency. This means that if bitcoin is a currency, the US government has the absolute unfettered power to control it within the US.

    • Brad Hollinger
      Brad Hollinger 3 months ago

      Drake Savory also would banking laws be applied to bitcoin ( and all crypto’s) if they are going to be/act like a currency ?

  • Miss Information
    Miss Information 4 months ago +2

    I can see the value in both sides of the Bitcoin is money - gold is money debate. I have a little of every asset class I can get my hands on. Just don’t go all Andy Hoffman and you’ll be okay.

  • jj H
    jj H 4 months ago

    Bitcoin is not going up because Mnuchin said it was a currency. The recent rise all started when Fidelity announced that its trading platform for bitcoin and a few other cryptos will be ready soon and this is geared to institutional investors. When people heard this and realized big money could be flowing into the coins they started to buy to get in before hand hoping to ride price up when this finally goes on line. In addition you have other brokers on wall street waiting for regulatory approval and of course the NYSE is also getting involved. People are jumping in to make a buck and not because they can use it to buy a few items. Kirby statement is just absurd. Would you go out of buy bitcoin for over $10,000 just because you can use it to buy coffee at Starbucks? Of course not! Would you buy with the potential to double or triple you money which with most other assets is extremely hard to do? Of course! There has never before been a financial instrument where average people could make huge amounts of money with very little resources. This is why bitcoin is going up and some other cryptos with it and again this has nothing to do with the idea it can be used as a currency. Would you buy bitcoin and pay the fees involved just because you wanted to use to buy things? What the hell is the point of this if it cost more than just using dollars? Folks it is all about trading these and making a buck pure and simple. If you could not trade them do you think people would still buy bitcoin just to be used so you can spend it? Kirby is confusing the use to trade and the use as a currency. Now most countries will not allow the cryptos to compete with their own currencies as they cannot. When ask recently what Powell thought of bitcoin as a currency he said their research shows these are being used mainly as a trading instrument or store of value and not widely used as a currency but we are watching to see if this currency use widens. Because they are not a threat as a currency now if left unchecked and is widely used thru out an economy and the velocity of money increases this causes inflation and the higher the increase the higher the inflation. This would reduce disposable income, lower living standards, reduce economic growth and then tax revenues and then politicians would be forced to raise taxes more. Currently the FED can slow this down with raising reserve requirements for banks, raising interest rates, removing liquidity, etc. but with cryptos they have no control and the economy would eventually collapse. This is why very few countries around the planet are going to allow a private crypto compete with their own as they simply cannot not allow it. They may come out with one of their own but that is about it using these as a currency.
    Now no one is suppressing the long term price of gold as there is simply no reason to do so. The metal pumpers use the lawsuits and criminal cases to prove yes there is manipulation but the fact is all markets are manipulated short term and this is to create price movement, make a quick buck and get the hell out usually using spoofing. Prices always revert back to their mean afterwards whether in a bull or bear market. The cases all involved moving price in one direction and then the other or in other wards moving price down then up or vice versa. The civil suits are about people potentially losing money because this up/down movement took out their stops and in a normal market they are alleging this would not have happened and they lost out on the chance to make money. Others are claiming that they lost money or didn't realize their full profits or paid more than they should on contracts when prices were moved up and down. The criminal cases all have to do with using spoofing to move prices and again both up and down. There is not one civil lawsuit or criminal case where investors or regulators are claiming these actions were suppressing the long term price of the metals. That is because they were not!
    For about 11 years now GATA and the metal pumpers have been claiming every time prices fall it is the "cartel" again suppressing prices to instill dollar confidence. This is bullshit! In 2009 Armstrong Economics computer models alerted clients that Europe was beginning to collapse and capital would flow to the US into dollars and US equities especially the Dow. On June 13, 2011 the models called the bottom on the Dow and capital accelerated out of Europe and flooded into dollars and US equities causing unwanted dollar strength and markets to rise. Even the Swiss central bank and Norway's sovereign wealth fund moved into dollars and bought equities moving these higher. As the dollar gained unwanted strength and currencies started to weaken commodities became much more expensive in foreign markets and this caused the commodity bear market and especially hit were crude, gold and silver. This is the last thing the FED wanted as a strong dollar is not good for the US nor the planet as it effects other economies and then the US. I remember the metal pumpers were all out in force claiming the "cartel" is at it again never mentioning once the collapse in crude killing US oil firms or the fact Europe was collapsing and capital was flooding into dollars and collapsing other currencies and with it US trade. Since 2011 every time Draghi at the ECB has done something stupid like forcing rates too low causing investors to flee or charging banks to park excess capital, negative rates) capital had fled to dollars and US equities and that is why they have been rising and this capital is still fleeing into the US as the computer models forecast the collapse in Europe really kicks off in 2020 and the so called "smart" money has finally realized the shit is getting ready to hit the fan and they also are now fleeing into dollars, buying US equities on the dips and now treasuries bidding up prices and collapsing yields as it seeks safe haven. This all created even more dollar strength which is causing problems for the FED. Trillions in dollar denominated loans to foreign entities and countries especially emerging markets cannot be pay and they are collapsing and taking the banks in the EU with them as they loaded up in emerging markets when Draghi went to negative rates where yield was higher. Wall street has these loans too. This is why Trump, Kudlow, wall street, the ECB, bank of England, BOJ, IMF, etc. all want the FED to cut now to weaken the dollar but if they do US pensions go bust with no yield as they all must buy gov debt. The FED for months has been asking central banks to flood the system with treasuries so the dollar will weaken but private capital is buying these up as indicated by the latest treasury auctions. CONTINUED BELOW

    • jj H
      jj H 4 months ago

      These two live in a fantasy land. What Mnuchin was really saying was although bitcoin has been classified as a commodity by the CFTC it is used in many places as a medium of exchange for goods and services making it a form of a currency. Gold no matter how many times you want to repeat it is not money and is not a currency. You cannot use it to buy goods and services which means it is not money. Forget about the 5000 year old history as horses were once the best form of transportation for the same period and like gold technology has passed it by. Unlike gold you can at least use bitcoin to buy a few things which you cannot with gold unless you exchange it for a currency. Metals have just become to cumbersome to be used widely as a form of money as people and businesses do not have the capability to determine or ascertain if they are .9999 pure or to even weigh them or to x-ray them to determine if there is no tungsten. A recent example is a woman went to buy groceries at Wal Mart using gold coins with a face value of $10 each. Even though they were officially minted coins the store refused to accept them for the reasons above I just mentioned and sent her to a bank. The bank gave her the face value amount for each coin and it was later that someone realized they were actually worth more than their face value and tried to track her down. My point is gold or silver are not money and their use as such is severely limited and even in a collapse mode they will not be widely accepted. Maybe you could get by using small denominations of silver officially minted coins because if determined later to be fake the loss by the person or merchant would be very small. Forget about gold or silver bars or even larger face value coins or gold as again if determined later to be fake the loss is too great. In fact when you look at the history of gold or silver its use as a currency was when it was used in a coin which makes it a "fiat currency" used again as a medium of exchange for goods and services and "fiat" simply means anything that the state declares it can be accepted as a medium of exchange for goods and services. Money has as been bronze, cattle, salt where salaries came from, people, animal pelts, etc, etc, etc, some of it "fiat" and some not.
      Today there is simply not enough gold even to be used in coins and replace paper dollars and coins we currently have. The US alone has over $1.7 trillion in paper dollars and minted coins and the total amount of gold ever mined is only $7 trillion so the idea that the US would end up with around 24% of gold on the planet is just absurd. The gold standard makes this worse as the US alone has over $52 trillion is digital dollars sloshing around the planet so again there is simply not enough gold to back even the US monetary system much less the planet. The gold bugs always like to point out that gold would be "reset" much higher and this solves the problem. Actually it does not as for one the planet would have to go back to gold being fixed which means there is no longer any upside potential so why hold it except as a hedge which by the way is the number one reason it is held today. Two is an economy needs a constant flow of new liquidity so it can grow and create jobs, (think bank lending here) and countries would have to constantly buy gold to back this and also to restock what went out the gold window and no country on the planet can afford to do this at today's prices so forget much higher prices. In addition a gold backed currency would actually strengthen it in relation to nonbacked currencies and this is the last thing countries want or need. This would simply collapse exports and then the economy. The gold standard is fantasy land nonsense! Technology has simply passed gold by as it use in any monetary system but it is still held as a hedge. When Ben Bernanke was asked by Ron Paul in Congress about his position on gold, his response was that it was a "relic" which it is in today's monetary system which is exactly what he was talking about. When ask why do some central banks still hold it his response was "tradition" which again it is as it is held as a hedge which history has shown it is in fact a hedge or a store of value over long periods of time.

    • jj H
      jj H 4 months ago

      Now with all this going on causing dollar strength the idea that the FED or some "cartel" is suppressing the long term price of gold is absurd and certainly not grounded in fact. Just recently I saw one of the GATA boys claim although was moving up it currently is being attacked by the "cartel". Absurd. Gold could be at $10,000 and this would have no effect whatsoever on dollar strength as the dollar is a safe have and capital is still fleeing to it. Dollar strength is caused by the overall strength of the US economy and the fact that the dollar is THE world's reserve currency and it and treasuries are the backbone of this international system. The fact is there is nothing to replace these: not euros, pounds, yen, yuan, Canadian dollars, etc, and nothing to replace treasuries held world wide as they are the same as cash and they are the second most liquid and largest market of the planet behind currencies. No other countries sovereign debt even comes close.
      Now the Comex. Kirby is also incorrect on "naked" shorts. I can trade all day long crude futures on the NYMEX and I do not have to be in possession of a tanker full of crude, wheat and not be in possession of a large physical hoard of wheat, or cotton, sugar, lumber, pork bellies, gold, silver, or whatever. This bullshit keeps being passed around and if I go long on the dollar by shorting the EUR/USD and GBP/USD cross and go on the Comex and buy a ton of call options for my hedge, I do not have to be in possession of physical gold. If I short the dollar and buy put options, (going short) I do not have to also being in possession of physical gold. There are futures traded on the Comex and there are options traded on the Comex. Take if I go short in dollars in currency markets and load up on put options. Many look at all these shorts and think the "cartel" is trying to push price down. NO! My main trade is for dollars to go south in currencies but if I am wrong price moves the other way my hedges will help offset my losses in currencies. The last thing I want is for my hedges to be triggered but just like a homeowners policy if fire strikes and I have to trigger my policy, (hedge) I am happy I have it and paid for it as it is simply the cost of doing business. The number of longs and shorts by commercials or noncommercials does not always mean what you think because many of these are hedges which is just a form of insurance. Most of the other trades are entities trading for profits. So you have two different mindsets here trading, one is hedging protecting against potential loss and which is very conservative in trading and the other for profits which is very aggressive in trading. If you look at the history of future markets including the Comex, who do you think is overwhelming the most profitable, commercials like the banks, corporate commercial, institutional commercial, etc. or currency traders, hedge funds, speculators, etc.? It is actually the specs as they trade for profits while most others are in this market to hedge. This is the same group GATA calls stupid and when they finally go broke and not be able to take the other side of the trade the manipulation stops. But it is the specs that are right and one way they make money all day long is to take the other side of the trade when someone hedges and since most hedges expire worthless they walk away more times than not with money in their pocket. This is where liquidity comes from. CONTINUE BELOW

  • Kip
    Kip 4 months ago

    My big issue with Bitcoin is holding it SAFELY. Coin exchanges leave us open to hacking. Plus, if the exchange
    shuts down, you lose your coins. Internet wallets are vulnerable to hacking. This leaves hardware wallets, which are electronic devices that are small and fragile...and, like all electronics, prone to failure at thee most unexpected of times. Also, from what I know, a hardware wallet is something you canNOT store away in a chest for safe-keeping for 20 years because it probably won't work in 20 years (when an heir finds it). On top of it, Ledger the company and it's vital online website could be long gone. Then there is EVER-CHANGING crypto technology, which could render old and untouched Bitcoin coins UNusable because they won't be compatible with new interfaces and blockchain technology.
    We need brighter minds to educate us on how to safely invest in Bitcoin so we won't lose everything either today or tomorrow.

    • Kip
      Kip 3 months ago

      @Kirk Johnson Bitcoin is also dependent on the functionality of the Internet, which I'm positive can be shut down or even destroyed.

    • Kirk Johnson
      Kirk Johnson 3 months ago

      Plus you need an intact financial system that has not banned transactions in bitcoin. Bitcoin is easy to destroy by the government through regulation. Physical things like gold are MUCH harder to control by the government.

  • Anna Kryzilinski
    Anna Kryzilinski 4 months ago +4

    Why is everyone so ingratiated with Jim Rickards? What does he offer that hasn't already been said since gold was first used as money a very very long time ago?

  • Kp Dad
    Kp Dad 4 months ago

    Internet kill switch? Look into technology. Maidsafe network. Safe autonomous for everyone.

  • VickingVic Bubble
    VickingVic Bubble 4 months ago +2

    The missing usd 21 Trillion was mentionned on CNBC Friday around 2 pm ECT.

    • The Whole World Called Me Hank
      The Whole World Called Me Hank 3 months ago

      @Kip~ yeah 5G and chemtrails

    • Kip
      Kip 4 months ago +1

      Where did it go? It went into projects the public cannot know about because such knowledge would cause a nationwide revolt. What about those massive underground cities that span the country? Imagine the cost! They're preparing themselves (with our money) to happily-joyfully-healthily-easily survive the worst global catastrophe. I'm referring to an epic event that will significantly impact the human race...or wipe us out.

  • VickingVic Bubble
    VickingVic Bubble 4 months ago

    The problem I have is that Many Central banks (china, Russia, Iran etc…) are no longer hiding their very large purchases of Gold. I believe this will ultimately push the physical price of Gold up. Meanwhile the Fed and the ECB seem to be slowly making us accept crypto currencies…

  • Aussie Bird
    Aussie Bird 4 months ago +5

    A slip of the the forked tongue.. dis-info from Mnuchin, anything to dissuade from metals.

  • jet blake
    jet blake 4 months ago +2

    Kirby is correct. Gold and silver always will be in the cross hairs. $2 Trillion has been ear marked to go into crypto in the next 4 years by Goldman, JPM and Morgan Stanley. Think new I.O.T. a machine world with A.I. and robotics using a currency and language that they speak and use

  • tubeprospector
    tubeprospector 4 months ago

    Tell it like it is truther Rob. WWG1WGA

  • DB Sven
    DB Sven 4 months ago +1

    I agree that physical demand will break the hold on PM rigging. I've said before that if everyone of RP's subscribers as well as the subscribers of other channels that Rob Kirby is a guest on including USA watchdog, X22 Report, ect would all buy 1 ounce of physical silver per week for a year, that would put a serious dent in the ability to satisfy demand. Once the dealers and coin shops can't get any to sell, then it will scare more and more people into action and break this already.

    • Out of work bum ?
      Out of work bum ? 3 months ago

      Let's do it , we can all become the Hunt brothers they can't do anything about it but make it illegal to own then the black market price kicks in and were all rich wow sounds simple I'm heading to the coin shop

  • Dave c
    Dave c 4 months ago

    You will see the tokenization of these debts and derivitives.Note Bitcoin blockchain is Shaw 256.Been used by military.Digital currency is not going away.It is already being used in the Eastern part of world.BTC saved those who owned and mined it in Venezuela.what happened with the internet and content will be dwarfed by the monetization of the internet...Doesnt matter if you agree with me or not,it just is FACT.Note...I am a silver and gold bug and see more potential with crypto after long study of it!!!

  • Thorsten Trapp
    Thorsten Trapp 4 months ago

    Rob Kirby, is Mnuchin a person one can trust? Will he articulate it to the public in case he changes his mind...or only tell his close friends? Err...sorry, I believe I know the answer to this question myself - he will probably tell all of us...just at different times...hahaha. Just to plan ahead a bit, for how long is Mnuchin gonna be Treasury Secretary? ;-) Has Mnuchin only said that verbally or has he changed the US constitution as well? ;-) What happens if there's a major incident in the Ukraine, Syria, South Chinese Sea or the Strait of Hormuz...will it continue to go up in this case? What happens if Deutsche Bank officially declares bankruptcy? What happens if our oligarchs short the market and then stop share market manipulation and the Dow drops below 20000 over a day or two? What happens if the internet goes down for unknown reasons just for a few days in Europe, Asia or the US? Err...could you please tell me in advance if that really did happen? ;-)
    Final question: what textbooks do you want me to read?
    Thank you

  • trigger fish
    trigger fish 4 months ago

    Prediction the usa will see massive destruction,looting,rioting,and more in 2020.

  • Mark W
    Mark W 4 months ago +7

    Yet another excellent interview with Mr. Rob Kirby. Thank you !!! The ONLY economic experts I put " stock " into now are: Rob Kirby, Bill Holter, Jim Sinclair, and Dr. Jim Willie. By the way, I just listened to Greg Hunter's interview with Jim Rickards. Got so disgusted that it took me 3 times to get through it all. It was a disgusting pack of lies from Richards. I hope Mr. Kirby doesn't listen to it, as he might puke like I almost did . . .

  • trigger fish
    trigger fish 4 months ago

    All the gold in california is in a bank in the middle of beverly hills in some munchkins name,so if your dreaming about gold in fort knox or sh!t coin it don't matter at all because it's santa claus and casper the friendly ghost who own all the paper and digits suckers.2020 own physical or cry baby cry.

  • Stacy Blaustein
    Stacy Blaustein 4 months ago

    Know Your Customer? Ok. I want to know who the core miners of bitCON were? By the time bitCON was released to the public almost 3/4 of all avaliable coins were already mined. Who are the core miners??!! I want to know my customer.

    • Yes Man
      Yes Man 3 months ago

      @Stacy Blaustein I'm just surprised at the sudden hostility just because i corrected your ill-found assumptions. Again there are no core miners as the first block named the genesis block only mined 50BTC. Anyone can be a miner irrespective of if satoshi was the first to mine. You dont get mad at elon for driving the first tesla do you? Someone has to test it to make sure it works lol( a concept you seem to miserably fail at grasping)

    • Stacy Blaustein
      Stacy Blaustein 3 months ago

      Yes Man you are a prime example of the idiots who invest in crypto. Once the code was finished by "Satoshi", but before "he" released it to the public, "Satoshi" started to mine for the easy coins.
      Once "Satoshi" mined about 70% of all the easy coins "he" then released bitCON to the pubic, woops I mean public.
      "Satoshi" is a core miner, you fucking idiot!!!!!!!!!!

    • Yes Man
      Yes Man 3 months ago

      There's no such thing as core miners in bitcoin as anyone can be a miner.

  • Chicago Report
    Chicago Report 4 months ago +1

    Bitcoin goes up 10,000 each time this guy says "ok"

  • Bite the Bullet
    Bite the Bullet 4 months ago +2

    bitcoin is a ponzi scheme designed to transfer wealth from the poor to the rich....once the transfer is done...it's done.

  • Paula Tuttle
    Paula Tuttle 4 months ago

    Rob, We long-time investors in cryptos realize that accumulation of tokens is all that matters right now. We're not traders. We only accumulate as many tokens a we can afford knowing cryptos will be a gamble only until it's needed. We're long-termers, not traders! It's the money and commerce of the future. I'm a long-term Rob Kirby fan, and I'm very happy to hear you speak of cryptos a bit now Rob, and especially that you've pointed out Steve Mnuchin's declaration that Bitcoin is money! But I've held gold & silver for 10 years, and cryptos for 2 years. I'm up double on my cryptos (having ridden the highs to the lows), and still under water in the metals.

    • Paula Tuttle
      Paula Tuttle 3 months ago

      @The Whole World Called Me Hank RU-clip has many. Just put the topic in the search in RU-clip. But basically, once you have a crypto wallet that supports the token(s) you buy, in that wallet (I use Exodus . You can download it from www.exodus.io). In the wallet, click on the token, click "receive" and copy that address. In Coinbase, go to the "withdraw from exchange" page and paste the address there and the number of tokens you want to transfer. Hit "send" and in a few minutes or seconds the tokens will arrive in your Exodus wallet! Very simple really, and fun!

    • The Whole World Called Me Hank
      The Whole World Called Me Hank 3 months ago

      @Paula Tuttle do you know of any videos or any thing that can walk a newbie thru installing cryptos from Coinbase to a ledger?

    • Paula Tuttle
      Paula Tuttle 4 months ago

      @Kip You can store your coins and tokens in off-line wallets such as the desktop & mobile phone or iPad wallets like Exodus wallet, Atomic wallet, or USB types like Ledger and Trezor. These storage methods allow you to hold your private keys. If you don't hold the keys, you don't own your cryptos.

    • Kip
      Kip 4 months ago

      Where are you safely keeping all of those tokens and coins? Educate us.

  • Paula Tuttle
    Paula Tuttle 4 months ago

    Rob, They can shut the internet down (not world-wide at one time!), and your cryptos will still be there when it's back on. Credit cards depend on the internet too, and most of us use credit cards 90% of the time. The major difference is the DeCentralized cryptos. Libra, XRP (Ripple), Tether, and more are Centralized and will be in direct competition with real block chain assets. We crypto, gold & silver holders knew Bitcoin and other cryptos would become real money, so we loaded up when it was cheap (on all of those 3). The world has changed since we bought our gold & silver 10 years ago, so my #1 bet is on cryptos. The younger generation won't accept gold & silver as their money of choice, if they can use their phones to buy anything world-wide in seconds and for pennies. The government is the #1 money launderer and drug trafficking organization on the planet. Once again, they pin that crap on cryptos, which is a typical inversion of the facts. ANY money will be used for nefarious purposes. You can't make good people out of bad people.

  • Nunya Bidnez
    Nunya Bidnez 4 months ago +7

    All cryptos ARE centralized at specific choke points - fatal funnels if you will - exchanges and the internet. If they don't get you at the first, they will slaughter u at the second.

    • MichihiroHonda
      MichihiroHonda 3 months ago

      Educate yourself about crypto or the future will leave you behind.

  • Anita A
    Anita A 4 months ago +1

    ROB if you read comments understand cryptos are the end, period. This was told 2,000 yrs. ago. Believe the bible or not, it does not change the facts. Read Revelations 13. "The # of a man 666" = each persons finger/thumb print or eye scan. And it does not matter in the internet goes down, you can be scanned like any product at the grocery store. Also many globally can not & will not be able to afford internet service. This will be global as the bible says "ALL." This is the end of the age. Understand the times in which we live & you will understand what is happening & coming. See what the Lord has said about gold & silver after & during "the day of the Lord" which begins in Rev chapter 8, it will be worthless & thrown into the streets. I was hoping we, from here, would of gone to some type of system with gold tied in, & crpyto may still do that once it is rolled out, but in the end gold will have no part in anyway to be of any benefit. Would I buy into crypto? Never, I will not sell my soul for earthly gain. You buy into crypto sooner or later it will cost you your soul. In fact if you own it today you have already sold out the devil & his beast system. Where your treasure is there your heart will be also.

  • bankrunner
    bankrunner 4 months ago

    there is crypto, then there is CLOAK.

  • Anita A
    Anita A 4 months ago

    "this guy" just testified before congress & stated he loves his country & constitution more then any party or canidate. Also In the end gold & silver will be worth nothing. But by that time things will be so bad most who hold it will not care. They will be so sick & and already have had no problem entering the beast system. You can read their comments today touting about cryptos & how wonderful they are. Also the final crypto will be or have an aspect of biometrics tied to it.

  • joe canuck
    joe canuck 4 months ago

    Great story Dunnigan, about your son the counterfeiter. Still LOL.

    • Reluctant Preppers
      Reluctant Preppers  4 months ago

      ... story starts at 34:55. Actually, that’s one thing that originally led me to start this channel! Believe it or not! Blessings - DK

  • Billy Ray Valentine
    Billy Ray Valentine 4 months ago +5

    Rob - they can't turn off Bitcoin. They only way they can stop Bitcoin is to either turn off the power or the internet entirely - forever. If they do that, billions die, and money is the least of anyone's worries. All of our critical infrastructure runs on the internet/electricity (telecom, electric grid, water, just-in-time food delivery, pharma, etc.). And the moment they turn it back on, Bitcoin just picks up where it left off. You could do an EMP. There are hardened Bitcoin nodes already, and you would have to do it worldwide, and find the nodes (all in private hands) and destroy them.

    The problem I have is that all of these gold experts (who are very smart and I've followed them for years) don;t actually understand the technology at all. They couldn't code themselves out of a wet paper bag. They don't even understand the fundamentals. They have a cursory grasp of basic computing they've learned by interacting with the home computers and think that's how blockchain works. It's not some software you just delete. There's no central server you can destroy. There no CEO you can corrupt or serve with a subpoena.

    You can pretend it's 'digital tulips' or whatever if it makes you feel better, but you're just like the people who wondered why we would ever need the internet back in 1997. I have gold, and have been buying for it the last decade, and was a skeptic of BTC until 2017 when I finally looked at it with an open mind and I realized what it actually was. For those of you who want to understand Bitcoin and at least make an informed decision on whether you are right and it's 'digital tulips' or whether it's a revolution in money, check out people like Andreas Antonopoulos on RU-clip. Even Mike Maloney realizes Bitcoin is money.