Bitcoin Is Now Recognised As An Asset Class - Trace Mayer InterviewsteemCreated with Sketch.

in dtube •  4 months ago


Trace Mayer joins us as Bitcoin cements its place in financial history, we look at the future of Bitcoin and the growing Blockchain sector.

We also discuss the present solutions for high transaction fees and which Governments are embracing cryptocurrencies.

TOPICS IN THIS INTERVIEW:

04:15 Bitcoin Futures markets attracting institutional money
07:55 Bitcoin is now recognised as an asset class
10:55 Is Bitcoin being used as a cash system?
17:15 The Bitcoin hard forks – what is the difference?
19:55 Governments embracing cryptocurrencies
23:15 High transaction fee solutions
25:35 How immutable is the Blockchain
27:55 Where to find out more from Trace

Get more from Trace at Bitcoin.kn

Get access to exclusive investing idea utilizing blockchain technology at: FutureMoneyTrends.com/blockchain

Original Release on YouTube & FutureMoneyTrends.com 2017-12-12


▶️ DTube
▶️ IPFS
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  Trending

Hopefully Lightning network and segwit will help get those fees down for BTC. Right now they are pretty crazy

Mass adoption is happening way faster than I ever could have imagined! Great post! ;)

·

I think there is no doubt that the parabolic rise is concerning, but it's hard to argue that the value of the technology hasn't actually risen parabolically with the price. We haven't seen any world changing alterations come from crypto, but we have so many projects that have been announced with huge implications. Maybe the investments are speculative, but they are speculating on potentially disruptive changes to many industries.

·

They absolutely have no choice than to... The World would soon operate on a cashless base.

·

It really is insane to see how many people are talking about Cryptos. I remember when it was like Computer Geeks and Libertarian/Anarchist people.

·
·

I wonder. They used to say that if a taxidrivers talks about stocks or assets, then get out. But Crypto is I think different these days. At least what we can say is that we live in exciting times!!

·
·
·

Yea, I think its more a technology than a stock. Remember when Facebook was only for College and High School kids.

Btc and cryptos is our future!

·

Absolutely.

Trace is really the brightest mind in the space. He understand the technical and financial factors as well.

·

Well, maybe he can explain how my transaction that I submitted yesterday still hasn't been confirmed today can possibly be an acceptable substitute for today's cash system. He comes off a s cheerleader (paid or otherwise).

·

Trace is intelligent but obviously misinformed or too heavily invested in BTC to be unbiased. The lightning network is a ploy by institutions to centralize bitcoin. Support on-chain scaling and the decentralized currency that Satoshi envisioned, not the corrupted coin that BTC has become.
This video explains the truth:

·
·

Haha, I think you are fairly misinformed and I think Trace Mayer has enough wealth through his first investment, don't think he need to shill the market to get richer. Someone else posted this youtube vid about LND in another discussion and this was my answer:

Sorry, but what a bullshit video, it is indeed a Bcash shill video:

1: LN is designed for small payments under 100 USD but mostly way smaller transactions like coffee or something similar or even micro transactions for reading an article or viewing a video (will never be possible with Bcash by the way) , so with a smaller amount you can be a node easily. I think many BTC users will set up a node, because now it is finally possible to earn a passive income on your bitcoins in a very secure way (if for example hardware wallets implement it). Furthermore it will be possible to do it anonymous via TOR, so tell me how they are going to control this........

2: The node who transmit a transaction only knows who is the node before and after him (even don't know if it is the source, destination or somewhere in the middle), so a hub can never know where the payment comes from. If you implement a function that you want to route your payment through a certain minimal amount of nodes (5 for example) a hub that want to do AML or KYC never knows who you are.

3: Every node that will pass your transaction through is forced by rules in the smart contract to do what it needs to do, if it fails the blockchain will handle it. This means a node has no power to do anything else than just forward your transaction.

4: This is all open source, so if a side chain or a service that Blockstream delivers start to look like a monopoly you can simply fork it and launch a new sidechain without the flaw.

5: Running a full node is ALWAYS important to be sure your BTC can't be stolen, onchain and with LN as well. Bitcoin keeps the blocks small so it will remain relatively easy and cheap to run a full node. Bcash is making it more and more expensive to run a full node, so HERE CENTRALIZATION WILL ARISE!
6: A hardfork is a way to FORCE all the users to obey to the new rules (if no consensus this is against the voluntary mindset!), There will be multiple side chains and everyone can use it if they want. If you don't want, use (or create) another sidechain or transact onchain.

It is really sad to see Roger Ver attack Bitcoin with nonsense (already 2 major corrections led by him and his followers) and slow adoption down by spreading FUD and confusion (What is the real bitcoin bullshit question). He is exactly doing what the NWO does (paying people to riot (online in this case), market manipulation, dividing people and brainwashing via his media (bitcoin,com, r/btc).

I like Jeff Berwick his view on the world a lot and he is doing a lot to bring knowledge to the people about freedom. Thats why I am so disappointed about the change in his view about Bitcoin. A few months ago he invited Roger Ver and Trace mayer as well to show both sides of the debate and I respected him a lot because of this.

Bitcoin is so important to bring freedom to the people, so I want to ask: Can you please make sure that Blockstream is compromised and bring real facts to you visitors before you attack Bitcoin?

·
·
·

The last part is off topic, but I just copy / pasted it

·
·
·
·

Yes ok. But the last part is the more intresting one to me. I am supporting Bitcoin and sold most Bcash after fork because big blocks cant handle 1k or 10k transactions per secound. I just dont like that Bitcoin and Bcash share the same hashalgo, but i got my node and miner ready to mine Bitcoin and support the Bitcoin network. Even if all Minercompanies shoot down i bet Bitcoin survives because of entusiasts like me. About Bcash i dont know but looks like centralised miner.

·

Trace is one of the smartest people in the Bitcoin space, no doubt about it. I have listened to almost all of his Bitcoin Knowledge podcasts. They are well worth the listen. With that said, I am really starting to believe that he is too bullish on Bitcoin as opposed to other cryptos. Bitcoin transaction fees make it unusable as a currency, and confirmation times are frustrating to everyone who touches it. Despite the 1st mover advantage, If Bitcoin can't fix these issues soon, another crypto will step into 1st place.

Trace- we love you, and truly hope you are more than just the spokes mouth for the core team.

·

I'm really glad that these interviews take place regularly with great minds like him. If it weren't for these people we wouldn't be able to get essential information in order to build a better world around us through cryptocurrencies. I hope there are many to come like this.

·
·

thank you... also will follow your post and upvote them...

·
·
·

Lovely! Thanks for supporting me. It really means a lot to me to have people who appreciate my art.

·
·
·
·

your welcome

·
·
·

Thank you for that link. That website is very useful. I hope many more people click it and give you money.

·

hey hello i been posting info on bit coins i have perchased and their all up.. check out TRX COIN tron... i bought at 3 cents and now is at 7 cents... please check out some of my post and tell me what you think..

·
·

Yeah, dude, TRX is going up like crazy. It was a great investment when it started and it's probably a very good investment right now, but you should invest smart and avoid coins that have already grown for a bit. If the pump is over and the trend goes to another coin you may purchase an over-inflated coin that may fall in the future. Stay safe, my dudes and keep it on!

·
·
·

thank you again...

This guy is a Crypto genius, I mean, he is able to analyze these stuff so perfect.

HODL for at least a year! Otherwise, you could pay 40% in the U.S. :(

Thank you for this interesting interview!

You are saying the hard truth.

·

The future of bitcoin definitely good and some steps to be taken to reduce high transaction fees. People now showing more interest this bitcoin futures because it is a new thing futures.

alles klar

·

Las uns anlegen :-)

Nur was geh!!!!!

Asset class? Wow, to think I was only in university to become an account 8 years ago and the concept of something having no intrinsic value being classified as an asset is mind-numbing. I wonder in terms of the order of liquidity, where crypto currency sits on the balance sheet ?

This is how it should be. Regardless of what many people in the conventional finance and investment world think about Bitcoin, it is here to stay. Or at least crypto coins and tokens. It has clearly become a store of value in addition to being a commodity. It is also a currency - one could very easily participate in the cryptocurrency market when he has BTC, and can receive it.

Refusing to acknowledge Bitcoin's position is simply being petty-minded. Or putting one's head in the sand. With or without the blessing and participation of governments and conventional financial institutions, Bitcoin will continue to attract an increasing number of people worldwide. It would be better for everyone to accept Bitcoin's presence and influence - even if it's grudgingly - and adapt to the new situation.

·

Indeed, sir, you're absolutely right. Even though bitcoin may have slow transactions and super-high fees, its long-term value makes up for it. It's by far the best coin to invest in and it's decade-long solidity has proven the reliability of cryptocurrencies. It's perfectly foreseeable that in the near future cryptocurrencies will have taken over the world's economy. Stay strong, friends, and invest safe!

·
·

The high fee is indeed a thorny matter. Made worse by the exchanges still insisting on 0.001 BTC to transfer to our wallets for safekeeping (only HitBTC's fee is more reasonable). But that's how things are and we will have to adapt.

Currently, BTC is viable as a currency only at the exchanges - used to trade altcoins. Or for bigger purchases in daily life. It makes a good store of value though despite the volatility. For smaller-value payments, it's much better to use altcoins like DigiByte, Navcoin, Verge etc.

·
·
·

Exactly. My friends always use XRP, Dash and, most of all, Doge, to make transactions. The abusive rates in exchanges make it hard to keep our money flowing as it should be, doing business with altcoin trading. I myself am waiting for ESP and XP to keep growing in order to have more BTC to do business with later on. I hope everything will go well in these high-risk/high-yield stakes!

·
·
·
·

I'm getting a bit concerned though about XRP's current giddy price. Low fee or not, it will be painful if its value sees a drop that's as sharp as the rise.

But anyway, concerning transfer fees from exchanges - generally, Bittrex is reasonable enough. Except for BTC. With this one, I've learned only today that Poloniex's rate is great. Unfortunately, not so for its ETH fee. So, we'll have to shop around to see which exchange is cheaper/cheapest with each of our favourite coins.

Binance's transfer fees suck the most. Especially for ERC20 coins. Some are just plain blood-sucking. However, I'm using it because it has many of the new, hot coins and tokens that are not available at Bittrex and Poloniex. Have to live with this evil, I guess. Grudgingly.

·
·
·
·

You have XP - Congratulations! I was thinking about it, and then saw it go up today. I had likely missed the train with XP. Don't want to chase at this level.

·
·
·
·
·

Aaah, don't worry. You can still chase a little bit! Rumors are it will be included in Cryptopia and Binance, and this will all happen in Jan 5 according to my understanding, so you can still but and have it for a while pay lots of attention to the scene. It still has a long way to go up, since it has many projects.

Espers also has many projects, but there's nothing foreseen about big exchanges adopting it. It's only available on Coinexchange right now. I'm sure it will keep going up too, since they are doing a soft fork on Jan 5. At least till then it's safe to invest! Then watch the scene and announcements. Buy the rumors, sell the news, as they say. But these news might be great news for the community. I see it going a long way upwards but I will pay attention. I don't want to invest in something like what happened with EMC2 (rumor of big news, price went up to the moon, news came, disappointment with it, and people sold it all and it crashed so hard that people lost hundreds of thousands of dollars worth of money in it).

But you're right to be skeptical.

·
·
·
·
·
·

I tried to open an account at Coinexchange some hours ago, after reading your previous reply. There was a problem with its server. But the floating mist/smoke at its site was cool!

I will have to give XP a miss. In fact I'm consolidating my portfolios, in preparation for a pullback/market correction. Things have been EXCELLENT since December. I've been involved in the local (Malaysia) stock market since at least 25 years ago. Plus some experience in the commodities market. But this current super bull crypto market is an entirely different creature. It's the strongest and broadest I've ever known.

I'm grateful that technology has made it possible for people like me to also participate in. With the tech bubble of the late 90s, only those in the US had easy access. It may have led to many people losing significant money when it burst in early 2000. But many others had also made a lot of money...and kept this by exiting before the crash came.

I'm often guilty of being too cautious. God knows how much I had left on the table in the crypto market by selling way too early. With Cardano (ADA), for instance - had sold all when it reached $0.50 (bought at $0.12). In retrospect, I "should have" kept some. Ah, well...

But anyway - when most people are exuberant, I would get rather worried. Because I know it can't go on forever.

It's like going to a party, and it turns out to be a great event. The tendency is for us to stay around longer because it's so enjoyable. But things sometimes turn for the worse - people get drunk and various ugly things happen. There could be fights, with people getting hurt or worse. That's how I see markets when things are roaring.

With this in mind, I've gathered all my things and staying near the exit at this crypto party. Should things suddenly turn nasty and people are panicking, it will be easier for me to run out.

The million dollar question is, when and under what conditions should I make the exit? Going out too early will mean I will miss out on a lot of the fun remaining :-)

·
·
·
·
·
·
·

Excellent commentary on the situation. I feel the same way as well, only I know I wouldn't be able to pull out safely should the crypto-party suddenly end. I know it's chaotic and that it's overvalued by people. Blockchain is just a technology, it's not even related to cryptocurrencies, but people think that the only change that will come is coins everywhere.

I'm scared for my funds, but I'm also glad since I managed to grow my funds 4.5x in just a month. I was lucky that I have such great company with excellent foresight to tell me which coins were growing and which were falling. If I hadn't followed their advice I would have missed this opportunity completely or lost a lot of money by betting on the losing side (I'm not that good at investments, but investment solves my needs. I need to take part in it).

As for my plans to pull out, in the valid worries that everything will be going down, it would take me a long time. I would require hours to sell all my crypto back to BTC and then BTC to Paypal USD (with the market clogged up by FUD selling). I know it's risky, but what else is there lol. I'm a poor investor. :P

And also, XP fell a couple days ago. It went up till 34 sats and then came back to 22. I pulled my money out at 32, having put my money in at 8. It was absolutely glorious, but I think you were right not to invest in XP long-term.

I'm still watching the situation carefully, since XP could rise again should the rumor of inclusion in exchanges continue. And on Espers, it's still going up lol, and as far as I see the projects going, since it's not based on rumors but projects, I think it'll stay on a steady way up for a while. Take a look at it if you want, although I think Coinexchange closed its doors for new members a few days ago.

I still see cryptocurrencies going strong for a while. I think the total market cap will hit the trillion this year. It would be hard to slow that titan down once that happens. Will it unstabilize on an unsteady foundation? It's all, relatively, a bubble. will it burst on our faces? (or at least on mine) I think only time can answer those questions.

·

hey hello i been posting info on bit coins i have perchased and their all up.. check out TRX COIN tron... i bought at 3 cents and now is at 7 cents... please check out some of my post and tell me what you think..

and get free coins here https://freebitco.in/?r=10526767 or https://freebitco.in/?r=11377153

·
·

Nice links again, you have posted by far the most useful information I have seen today. I will invest in you, baby. <3

·
·
·

thank you

With recognition of bitcoin as an asset class, money managers will be able to hedge their clients investments or allocate their assets into a bitcoin ETF without worry about being sued if the value goes down. This is good news because it allows your average investor to buy bitcoin without having a wallet or setting up an account or ever even touching a crypto. Their financial advisors or custodians will do it for them.

Without this classification, money managers can’t own or invest bitcoin on behalf of their clients (in the USA, at least). They'd risk getting sued under US laws for investing their clients' money recklessly. Obviously, this prevents billions of dollars from entering the bitcoin marketplace.

Now, most money managers have contracts that state a third party will hold onto their assets as a custodian. This rule is in place to protect investors from potential fraud. So, they hire firms like Morgan Stanley or Goldman Sachs have “custody” of their investments. Presumably they'd have the same arrangement for holding bitcoin.

But there are no institutional-grade custodians for cryptocurrencies yet. They need that piece in place before they can put money to work in the actual bitcoin market. But once they do (maybe they already have, because it's a legal not operational issue), we could see a HUGE flood of money into bitcoin.

Nice, but in my country, the bank are banning people to earn form bitcoin and altcoin.

·

Don't worry, dude, that's why they're called CRYPTOcurrencies. You can just use the Internet and buy them from people with cash or just justify the bank transfers with other business. Cryptocurrencies are completely anonymous and secure, so you will surely have great opportunities coming for you if you invest in them. In fact, in Venezuela, my country of origin, the crypto world is greater than ever. I don't think the crypto scene is bigger in any other Latin American country. Since the government is blocking all our trading opportunities and trying to stop us from getting foreign currencies, people all over the place are using cryptocurrencies more and more to escape these regulations. They will never win since crypto is decentralized, private and encrypted.

·

its opposite in US , the more bitcoin the bigger the tax you will pay

·

Nice,.....hey hello i been posting info on bit coins i have perchased and their all up.. check out TRX COIN tron... i bought at 3 cents and now is at 7 cents... please check out some of my post and tell me what you think..

and get free coins here https://freebitco.in/?r=10526767 or https://freebitco.in/?r=11377153 and you should check out this ICO i joined last month https://tokensale.crypterium.io/?ref=71c4aee8c46b8262b0dd08db

Very cool info! thanks and upvote. regards 👍🏽

·

You're welcome, sir. I hope you enjoy the upvote. Regards to you as well.

·

hey hello i been posting info on bit coins i have perchased and their all up.. check out TRX COIN tron... i bought at 3 cents and now is at 7 cents... please check out some of my post and tell me what you think..

and get free coins here https://freebitco.in/?r=10526767 or https://freebitco.in/?r=11377153

Welcome Trace mayer . You are great.

·

Love him too, he's my inspiration.

·

Nice,.....hey hello i been posting info on bit coins i have perchased and their all up.. check out TRX COIN tron... i bought at 3 cents and now is at 7 cents... please check out some of my post and tell me what you think..

and get free coins here https://freebitco.in/?r=10526767 or https://freebitco.in/?r=11377153 and you should check out this ICO i joined last month https://tokensale.crypterium.io/?ref=71c4aee8c46b8262b0dd08db

·

Nice,.....hey hello i been posting info on bit coins i have perchased and their all up.. check out TRX COIN tron... i bought at 3 cents and now is at 7 cents... please check out some of my post and tell me what you think..

and get free coins here https://freebitco.in/?r=10526767 or https://freebitco.in/?r=11377153 and you should check out this ICO i joined last month https://tokensale.crypterium.io/?ref=71c4aee8c46b8262b0dd08db

Nice one. Thanks for the heads up

@futuremoneytrend, great video/interview. Trace definitely makes some really good points. 2018 will be an exciting time for crypto!

·

You're absolutely right. I'm actually really looking forward to this year. I'm holding a wide variety of cryptocurrencies and would love to see them shine. I know there are great projects coming for a few of them and this growing trend is really making our wallets grow and our possibilities endless. I hope everything keeps going the way it's going so that the future will be brighter for all of us!

·

I did not, that's for sure. I'm very surprised to see my very dear crypto-currencies thundering around and making babies with economy.

·

hey hello i been posting info on bit coins i have perchased and their all up.. check out TRX COIN tron... i bought at 3 cents and now is at 7 cents... please check out some of my post and tell me what you think..

and get free coins here https://freebitco.in/?r=10526767 or https://freebitco.in/?r=11377153

Thank you for sharing such information dear I follow you and Wait for your new post good work keep it up

·

I see you're very interested in this information. It's good that you followed him since that way you'll be able to get more of it. Keep up the good work, baby, I'll follow you as well since you seem to be a great person.

·
·

Thanks dear I follow you And always wait for you posts

·
·
·

That's great to know. I always knew someone would support my beautiful art someday. I hope you enjoy my future paintings and stories, since I will make them with love thinking of you and your generous spirit.

·
·
·
·

sure I follow you for your feature post hope you also follow me and support me thanks

·
·
·
·
·

Excellent, I follow you too. I hope you post great stuff!

·
·
·
·
·
·
·

hey hello i been posting info on bit coins i have perchased and their all up.. check out TRX COIN tron... i bought at 3 cents and now is at 7 cents... please check out some of my post and tell me what you think..

and get free coins here https://freebitco.in/?r=10526767 or https://freebitco.in/?r=11377153

nice Video

Bienvenido ala mejor red social de todas
asi nomas quedo

voto1.JPG

·

hey hello i been posting info on bit coins i have perchased and their all up.. check out TRX COIN tron... i bought at 3 cents and now is at 7 cents... please check out some of my post and tell me what you think..

and get free coins here https://freebitco.in/?r=10526767 or https://freebitco.in/?r=11377153

·

Así mismo es, papi, La mejor red social de todas llegó para quedarse. Le dan plata por postear. El sueño de todo nerd sin trabajo, poder quedarse cacaposteando todo el día y recibir un salario de eso. ¡Feliz año nuevo mijo! Y sígueme tú también, que yo sigo y le doy votos a todos para mejorar la comunidad.

great info!

Awsome post thanks for the information..

We live in a connected world!!! Alt coin should be also important to provide Anonymity as their basic function. Cryptocurrency is our reality absolutely.

Isn't It Too Late To Recognize That ? Lol

If I have 10 wet shirts and it takes ten min. for each shirt to dry, how long will it take me to dry all my shirts on a clothesline?

Please I need help with this...

Very interesting post I really like it .. Greetings know and friendship my brother. Happy New Year

very informative blog for all steemit users about bitcoin

·

That's is indeed the case, @bestmdfisal01. You make a very smart evaluation of the post in question. The information that this blog post gives to the community is irreplaceable and will no doubt shake the grounds in the crypto community when it goes viral.

·

hey hello i been posting info on bit coins i have perchased and their all up.. check out TRX COIN tron... i bought at 3 cents and now is at 7 cents... please check out some of my post and tell me what you think..

and get free coins here https://freebitco.in/?r=10526767 or https://freebitco.in/?r=11377153

Congratulations @futuremoneytrend, this post is the most rewarded post (based on pending payouts) in the last 12 hours written by a User account holder (accounts that hold between 0.1 and 1.0 Mega Vests). The total number of posts by User account holders during this period was 3086 and the total pending payments to posts in this category was $6774.68. To see the full list of highest paid posts across all accounts categories, click here.

If you do not wish to receive these messages in future, please reply stop to this comment.

Congratulations, your post received one of the top 10 most powerful upvotes in the last 12 hours. You received an upvote from @thejohalfiles valued at 293.12 SBD, based on the pending payout at the time the data was extracted.

If you do not wish to receive these messages in future, reply with the word "stop".

i love trace. thats one smart motherfucker. :)

Ripple will cross bitcoin soon because xrp is much faster and cheaper than bitcoin.

Quite comprehensive. I really appreciate this.

Wonderful theme. Thanks for this valuable advice

Cryptocurrency is the new revolution!

It's indeed a promising

ferret on meth, haha i lost it!

·

It's excellent information indeed, provided by the best minds in the world. Your evaluation of it is appreciated. Keep rating info like this since it brings the community up a notch!

Bitcoin it a global trend. Watch out for follow-up coins too

Enlightened, followed and upvoted.

fraud they just earn yourself and we are not able to earn just a penny

getting real tired of mainstream news referring to the entire crypto space as "bitcoin"

Good quality men!

Digital Currencies Take Control Markets soon it Will Create New era

El tema realmente me apasiona, muy bueno el artículo.

and the bull market haven't left the launch pad, nice info. thanks.

To all those calling it a bubble, get the facts from him & hope you all make profit just like we all are doing in the cryptocurrency Market
By the way, checkout my first post here https://steemit.com/dtube/@krupesh/wi6pawco

You are telling the truth.

high transaction fees for bitcoin but why ?

Hey guys , I just made a new post about what to expect next on ethereum , check my page follow and upvote thanks

very well said That not even left the Launch pad and become the "ASSET" it is remarkable

Still some matter can't understand.... OMG what the cryptocurrency is ?

Thank you so much for this great information mate

Congratulations @futuremoneytrend!
Your post was mentioned in the hit parade in the following category:

  • Pending payout - Ranked 8 with $ 667,38

Don't forget to pay your taxes! The IRS will ALWAYS collect its coin!

As more and more currencies gain traction I see this going to new heights. Wall Street will have to adapt to crypto currency exchange taking over. Expect stock prices to go down because of people taking money out to instead invest in crypto.

·

Ya, it's very useful, right? It's nice to see that people are thankful for the collaboration that the great minds give to the crypto world. Keep your head up, I can see a bright future for a thankful buddy like you.

·

hey hello i been posting info on bit coins i have perchased and their all up.. check out TRX COIN tron... i bought at 3 cents and now is at 7 cents... please check out some of my post and tell me what you think..

and get free coins here https://freebitco.in/?r=10526767 or https://freebitco.in/?r=11377153

Bitcoin+Blockchain = future success