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welcome to episode 12 Today
we dive into the monumental moment
bitcoin hits $100,000 well almost
what it means for the future of money
why it's the ultimate digital energy
and how it's redefining gold as we know it
stay tuned for a perspective on this historic milestone
and why Bitcoin is more relevant than ever
in shaping our financial future
alright welcome back everyone
ready for another deep dive
absolutely always ready to dive in
so bitcoin it's been kind of hard to ignore right
especially since the election
yeah it's been making headlines big time
I mean a surge like this
it's gotta be more than just the election right
well let's see
we've got some news articles
expert opinions oh
and even some audio clips this time
sounds like a good mix so where do we even begin
how about that Newsweek article
the one about Bitcoin hitting almost $100,000
oh yeah that was a pretty wild one
$98,000 a 40% jump since well yeah
since the election
is getting really close to that hundred thousand Mark
never been seen before
I can only imagine the crypto world right now
must be buzzing right
buzzing is an understatement
I think lots of excitement
lots of speculation but is it sustainable
that's the question right
right because Newsweek seems to think it's all about
well
Trump the Trump factor
they called it they think this surge is all about
people expecting him to be like
pro crypto which on the surface yeah
makes sense
he did say he wanted to make the US the crypto capital
and that whole bitcoin reserve thing
it was a big part of his campaign for sure
but let's not forget a few years back
he wasn't exactly singing bitcoin's praises
oh yeah
wasn't there that whole scam comment
yeah back in 2019
I think and again in 2021
said it was based on thin air
not exactly a ringing endorsement
it is a pretty big shift in tone
isn't it makes you wonder what's behind it
hard to say for sure but it does make you think
especially with his World Liberty Financial thing
ah you mean his own crypto venture
yeah that timing is interesting
interesting indeed but hey
let's see what the experts are saying
you know yeah
beyond the political stuff
Newsweek quoted a few
and most seem to think bitcoin will hit that hundred
thousand Mark eventually
eventually sure
but when that's gotta be the million dollar question
literally right
some say 2024 others are leaning towards early 2025
so no clear consensus then
not really no
but one thing they all seem to agree on is that uh
well Gary Genzler might not be around much longer
uh the SEC chair yeah
known for being tough on crypto
exactly and Trump has made it pretty clear
he wants to replace him so
regulatory changes on the horizon
that's a big deal for anyone thinking about investing
no doubt about it it's a whole new landscape
but to really understand Bitcoin's potential
I think
we need to look beyond just the price fluctuations
and the politics get to the core of it
exactly and one of the most compelling arguments
at least for me is the comparison to gold
the whole digital gold thing
yeah yeah
it's not a new idea but it keeps coming up
yeah especially now with all the
you know economic uncertainty
and those audio clips you mentioned
oh yeah
those the speaker in those clips
he argues that bitcoin like gold
has a finite supply 21 million
that's it so
no matter how much the demand goes up
the supply stays the same
exactly he calls it an elastic price
which basically means no inflation
unlike well
pretty much everything else these days
including gold to some extent
some extent yeah
gold can be mined
so the supply can technically increase
okay that makes sense
so bitcoin with its limited supply
it's a hedge against inflation
like a digital safe haven
that's the argument yes
yeah and to really drive that point home
he says and I quote
if the price of Bitcoin triples
you can't make anymore
if the price goes up by a factor of a million
you can't make anymore wow
yeah that really puts it into perspective
but it's not just a digital replica of gold
is it nope
not quite it has some unique advantages actually
like what well
for starters
it's instantly transferable anywhere in the world
no banks no borders
and no need for like armored trucks or vaults
exactly plus
the potential for returns
way higher than gold has ever seen
makes you think doesn't it
now this concentrated digital energy metaphor
I gotta admit that one really caught my attention
a powerful image isn't it
it is so walk me through it again
sure so
the speaker's argument is that traditional energy
like electricity it's hard to store
hard to transfer efficiently
but bitcoin he says
solves this it's like this concentrated
easily transferable form of value
hmm he even compared it to steel right
yeah steel
he said is concentrated energy in metallic form
bitcoin is concentrated digital energy
pretty thought provoking right
it is makes you wonder
if it's more than just a clever turn of phrase
could be pointing to something fundamental about
Bitcoin's value what do you think
I think it's definitely worth considering
but let's not forget about another factor
that Newsweek highlighted
spot Bitcoin etfs ah yes
those played a big role in the surge
didn't they huge role
now for those who might not know
spot Bitcoin ETF
lets you basically bet on Bitcoin's price
without actually owning any bitcoin
kind of like buying stock in a company
exactly and it's all traded on regular stock exchanges
which makes it way easier for well
everyone to get involved and then accessibility
it's like opening the floodgates
yeah exactly
I mean during the election week alone
we saw something like $6 billion in trading volume
6 billion wow
okay so there's a lot of excitement
a lot of potential
but let's be real here there are risks too right
absolutely yeah
big time we gotta remember this market
it's like a roller coaster
super volatile
bitcoin no exception so buckle up basically
yeah pretty much
I mean as David Glass
he's a strategist city put it
this is not necessarily a short term story
it's likely a much longer term story
long game huh
seems like
and we can't forget about the elephant in the room
so to stake the environmental impact right
Newsweek did mention some research about that
Bitcoin's carbon footprint is well
pretty substantial it's a serious concern for sure
especially with all that coal being used for mining
something like 45% yeah
that's not great not sustainable at all
definitely something to think about
I mean
how do we balance the potential benefits of Bitcoin
with well
the potential cost to the planet
big question no easy answers
but speaking of surprises
remember how unexpected Trump's win was
oh yeah
nobody really saw that coming
well Newsweek quoted some experts from Kaiko
and they said the market didn't really see
it coming either huh
so even a decentralized market like crypto
can be swayed by political events
seems that way
all right let's take a step back for a second
catch our breath so far
we've got bitcoin hitting record highs
Trump going all in on crypto
the whole gold comparison
and that concentrated digital energy concept
yeah it's a lot to unpack for sure
but we're just getting started right
so let's dive into some listener questions
shall we this one popped up a few times
isn't bitcoin just a fad you know
like won't it just crash and burn eventually
yeah that's a big one
I mean it's been around for a while
but there's still a lot of skepticism
oh absolutely
I mean how many times have we heard bitcoin is dead
countless times right exactly
but it always seems to bounce back
often stronger even so what gives
what's the secret to its uh resilience
well a few things
I think first off
the tech behind it the blockchain
it's constantly evolving getting more sophisticated
it's not static you know
always adapting always improving right
and then there's the network effect
the more people use it the more institutions adopt it
the more valuable it becomes
kind of like a snowball effect
yeah exactly
it's a self reinforcing cycle
but let's be real there are risks too
oh for sure
another listener asked about that
what are the biggest threats to Bitcoin's future
so let's talk about those okay
so even if Trump is good for crypto in the US
other countries might not be
we can see some like
really strict regulations popping up elsewhere
creating a kind of like fragmented market
exactly and that could hurt bitcoin
no question right
and then there's the whole scalability issue right
as more people use it things could slow down right
yeah the network could get congested
transactions might take longer
fees could go up
not ideal definitely some growing pains there
but I thought developers were working on that
they are they are
but it's tricky
you gotta find solutions that don't compromise
you know the whole point of Bitcoin
the decentralization the security right right
it's a balancing act yeah
and speaking of competition
there are ton of other cryptocurrencies out there
oh yeah
thousands of them some with
you know flashy features
that might seem better than bitcoin at first glance
so bitcoin could get like dethroned
it's possible yeah
but bitcoin has that first mover advantage
you know that brand recognition
it's hard to beat that true
true now
this listener asks what does Bitcoin's rise
tell us about the future of money
wow that's a big one
it is a big one but I think it reflects a
like a growing discontent with the current system
you know people are looking for alternatives
yeah yeah
alternatives to traditional currencies
things that aren't so susceptible to
you know inflation
manipulation by central banks
they want more control exactly yeah
more control over their own financial destinies
so Bitcoin is like what
a rebellion against the establishment in a way
yeah it embodies this idea of like decentralization
transparency individual sovereignty
powerful stuff and this listener takes it even further
asking could Bitcoin replace the US dollar
as the world's reserve currency
oh
bold prediction yeah
but you know
the dollar's dominance has been slipping
and Bitcoin with its fixed supply
it's like the perfect counterpoint right
potentially yeah
yeah could be a game changer for sure
but let's bring it back down to earth for a second
a lot of listeners are wondering
should I invest in Bitcoin
now obviously
we can't give financial advice right right
not our area of expertise
but there are some key things to think about
like Bitcoin it's volatile right
it's not for the faint of heart
so do your research start small
don't put in more than you can afford to lose
exactly sound advice
now this next question
brings up something we touched on earlier yeah
how does bitcoin fit into a world
grappling with climate change
yeah the energy consumption is a big concern is
but there's a growing movement towards sustainable
bitcoin mining you know
using renewable energy like solar and wind
so there's hope oh
for sure we can envision a future where Bitcoin mining
is actually good for the planet
that would be amazing now
this listener asks
isn't bitcoin often used for illegal activities
it's true right
it has been used for some shady stuff
it has but you know
every form of currency has been used for
illegal activities at some point
cash for example
exactly it's not about the tool
it's about the intent of the user right
I don't blame the Bitcoin right
plus the blockchain
actually
offers more transparency than traditional systems
makes it easier to track transactions
so it could actually be used to fight crime potentially
yes right
it all comes down to how it's used
how it's regulated speaking of regulation
someone asked
what role should governments play in the crypto space
ah the big debate
hands off or crackdown it's a tough one
too much regulation and you risk stifling innovation
but too little and you could have chaos scams
instability loss of trust
exactly finding that balance
it's gonna be a challenge for policymakers for sure
alright let's pause here for a sec
we've talked about the risks and rewards of investing
the potential impact on like the future of money
we've touched on the environmental concerns
the whole crime thing
and the complexities of regulation
lots to digest welcome back
for the final stretch of our Bitcoin deep dive
we've covered a lot of ground from market trends to
you know the whole sustainability debate
but now I wanna shift gears a bit
talk about the bigger picture
the philosophical side of Bitcoin
if you will
I like that it's more than just numbers and charts
right exactly
it's about ideas and as listener gets it
they asked could bitcoin be a catalyst for like
greater individual freedom
hmm I mean
that's a big claim it is
but it's an interesting thought right
how could a digital currency lead to more freedom
yeah how
well think about it
right now we rely on these big institutions banks
governments to manage our money
what if we could like cut out the middle man
take control of our own finances exactly
that's a big part of Bitcoin's appeal
I think it offers the possibility of a more
you know decentralized system
where individuals have more autonomy
more power right
and that leads to another listener's question
which I think is really important
could bitcoin help level the playing field
for people in developing countries
you know
those who might not have access to traditional banking
oh yeah
that's huge millions
maybe even billions of people around the world
are excluded from the current system exactly
but with Bitcoin
all you need is a smartphone and internet access
it's open to everyone doesn't matter where you live
what your background is
so we could give people access to global markets
to financial tools they never had before
exactly empowering individuals
who've been left behind by the traditional system
now this next question takes it even further
it asks could Bitcoin help create more like
resilient communities resilient communities hmm
how so well
imagine local economies
where people can transact directly with each other
no need for banks no fees
just peer to peer like their own
many economies gain away yeah
bitcoin could facilitate that
local currencies community marketplaces
it's about giving power back to the people
decentralization again
seems to be a recurring theme
it is it's at the core of the whole Bitcoin philosophy
and it leads to well
probably the biggest question of all
one listener asked
is Bitcoin ultimately a force for good or evil
whoa that's a heavy one
it's like that with every new technology right
it's a tool it can be used for both true
I mean
fire can keep you warm or it can burn down your house
so which is it for bitcoin
good or evil I think it depends on us
on how we use it on our intentions
but what excites me about Bitcoin is its potential to
you know empower people
promote financial inclusion
create a more equitable world
those are some pretty lofty goals
they are and
Bitcoin might just be a tool to help us achieve them
but it's not a magic bullet
we gotta be realistic there are risks
there are challenges
we can't just ignore the potential downside
exactly yeah
we need to be vigilant have open discussions
and use this technology responsibly
it's a balancing act for sure
it is and the future bitcoin
well it's uncertain
just like the future of any new technology
but one thing's for sure it's got people talking
it sparked a global conversation about money
about technology about the future finance
and that conversation it's just getting started
that's right so keep asking questions
keep learning and be a part of shaping that future