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The Future of Crypto Investment (w/Dan Morehead & Joey Krug)


Dan Morehead and Joey Krug of the blockchain funding fund Pantera Capital sit down with Michael Green of Thiel Macro. The group explores the present state of cryptocurrency, blockchain know-how, and the present funding setting. In addition, Morehead and Krug stay up for the way forward for distributed ledger know-how to discover how sensible contracts will create worth for customers and buyers by decreasing transaction prices and eliminating middlemen. Filmed on May 22, 2019 in San Francisco.

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About The Interview:
The smartest minds in finance sit down for extremely deep-diving discussions. Peer-to-peer conversations between the rock stars of the monetary world.

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The Future of Crypto Investment (w/Dan Morehead & Joey Krug)

For the total transcript go to:
DM: I’m glad you mentioned that. Because only a few individuals go earlier than 1992 after they do
their web analog. And if you consider it, ARPANET was round from the 70s
and only one% of the world used it in 1992. They created a browser, made it straightforward for
the remainder of us. And then exploded into use, proper? And I believe that is the best way Bitcoin is
proper now. There’s a pair % of the world that use it. So it’s probably the 80s
web relatively than the, is it ’95 versus ’99 argument. And once more, there, I had a
fascinating debate on CNN with a tutorial who’s a really uncommon breed of an animal–
an excellent detrimental tutorial on Bitcoin– and had written a paper, R.I.P, Bitcoin. It’s
Time to Move On. It’s failed. It’s And the story there may be the article was
written when it was at $400. And now it is at $9,000. So you are actually lacking this
huge asymmetry within the leverage.
DM: And then once more, to name it is admittedly forgetting who was the bulk
investor in It was a man who noticed a really disruptive know-how, wished to
put money into numerous other ways to make use of this disruptive know-how. One was promoting pet
meals on the web. Didn’t work. The different one was promoting books on the web. It
labored. And so, that is they method individuals ought to view Bitcoin, Ethereum, XRP. Not all
of them are most likely going to work. But if in case you have a portfolio of them and it is as
disruptive as we imagine, the portfolio would do fairly properly.
MG: Well, I believe we are able to really identify that particular person. Jeff Bezos. And not the
founding father of Barnes & Noble. So I agree with that, that individuals want to consider it
from a portfolio perspective. There is that this fascinating query about, we have been
doing it– and the analogy, when it comes to time horizon, additionally helps to deal with what
persons are pushing again on. One of the rallying cries for many who are tremendous
bearish crypto belongings is, we’re 10 years in, and there is not a use case but. All proper.
Well, as any individual who grew up in Silicon Valley, there was no use case for the time
that I spent banging away on a Trash80. It was a complete waste of my time as my father
was very completely satisfied to remind me. But it finally grew into one thing that was completely
unrelated. And RadioShack is now bankrupt underneath Tandy Corp, because it was again then.
But it is one thing that we use each single day. And once more, crypto appears tough to
have a look at and suppose that it is not going to be a characteristic of the universe, whether or not it is Bitcoin
or Bitcoin Cash or sensible contracts within the type of Ethereum. These all look like issues
which are completely destined to occur.

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  1. as for asymetric, well depends on what your strategy is in your investments. Right now Im anticipating a recession and posistioning my investments to what I think will be a great hedge and take advantage of the coming downturn. my portfolio is 50 percent XRP 50 percent silver

  2. So engaging! You're a humble guy. Thanks for your advice… I need to check out coins that are going to beat the index. But…Honestly been so busy. I traded back in 2017 and lost a lot of times. I think I'm more of an investor nowadays (re: reason #1) I feel better in that spot. I like that you share your reason to skip hodl mentality.. I think deep down you're truly "in it for the money" so set price goals and targets so when you enter you have a stronger position. I have a few targets for bitcoin. I don't want to cost average but the price keeps going up… Its has been two months now and I was fortunate to encounter Mr. Ramirez Benson on Email, ([email protected]), a trade expert who showed me how to invest in bitcoins and make daily profits from 2 BTC to 10 BTC in just two weeks, I think I may have to break down and buy some more coins since the trend is bullish. You can also contact Mr. Ramirez on WhatsApp (+44 7482877027). Cheers mate from Wembley!

  3. I normally like this interviewer, but I think he was the wrong person for this topic. That or he needed a cup of coffee. Some of his questions were total non-sequitors and other times he completely misstated the facts. For example, he said that a unique element of crypto is rewinding to before a breach happened. Yet chargebacks/refunds are a core part of the currently dominant financial system. It is a unique event in crypto and tends to create forks because so many people object to the idea. What Joey was talking about preceding that statement was continuing development of a testnet as it becomes a mainnet. Different thing. The later example he gives on the DAO breach is more apt, and as he stated, it led to the fork between ETH and ETH Classic (which refused to rollback to take back the funds). It is definitely the exception, not the rule.

  4. I know someone, ill keep him confidential, is the head of cyber security in a company and works for the fbi. I asked him one day what he thought of cryptos, he said to not invest in them for they are easily hacked and stolen. He has written several books about hacking and fishing and is one of the top hackers (for home land security purposes) in the world. Ill take his advice.

  5. If you don't have Bitcoin in your portfolio you should consider investing a few percent as a hedge against fiat currency inflation / CB money printing. The more friends and family you get to invest, the more you will make later down the line. Look how much the original investors made!

  6. Unlike stocks, crypto diversification is a bad idea. There is only one internet of value: Bitcoin. Alt coins are private intranets that are siloed away from network effects.

  7. Assessing voluntary value to an invisible nonentity is most illogical. But after decades of using Government Fiat currency humans have been conditioned to accept, grade and add value to invisible nonentities. When logic is scarce and conditioning complete, the value of nothing can accelerate to very high levels and last for an eternity. Illogical humans have been conditioned like sheep, Bitcoin will be the beneficiary of Idiocracy.

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