The same way digital photo albums exponentially outpaces analog photo albums is the same way Bitcoin will outpace the analog versions of capital and property.
Using the global asset estimate of $1.5 quadrillion, divided by 21 million bitcoin: $71,428,571.43 per bitcoin, though this represents theoretical value if all global assets were distributed across the total bitcoin supply. However, since not all bitcoin has been mined yet and some is lost, the actual distribution would be different.
There is about 80 miljon people in the world with a net value of 1 million $. So the analogy with the chairs is quite good. Add nations and companies and you will understand it will be difficult to find a chair.
Great video. I think in kind ETF’s would be massive in the US. It would give an option to cash out fiat for bitcoin to a wallet address. That could pass maybe at some point. And then maybe MSTR gets the power as a potential bank to do the same. Who knows. NFA
I believe the price is partially due to the price it takes to mine a block. It takes an enormous amount of electricity to solve the cryptographic hash algorithm. Not sure exactly what it cost to mine a Bitcoin block but it is probably pretty close to $90k +/- ( just a wild guess). That would leave a little profit it sold over at 95k or so. Just speaking in generalities but you get the point.
well... it wasn't supposed to go to a dollar, then no way to ten, then no way to a thousand, then no way to ten thousand, it will never in a million years go to one hundred thousand. so I guess you must be right.
Love the musical chairs analogy, was my favorite game as a kid. Always won. Game theory is game theory, when people tell you not to trade because of bots I laugh at them. Winning against bots, ive been doing that since I was 10 years old on a games console, this game isn't any different.
IMO. There is no top for BTC. So its hard to make a price target. The Politicians will print until the money printer melts down. $20 in BTC may buy you a car in 20yrs.
$1 trillion per bitcoin means a $21 quintillion market cap. We’ll stop measuring bitcoin in fiat terms long before then. At $100 million, that’s a buck per satoshi and a $2.1 quadrillion market cap. I can’t see fiat existing even after then.
Wait so adding a passphrase increases the chance of losing your bitcoin because now you have to save the seed and also the passphrase, but multi sig does not? How does that make sense? Multi sig also requires saving multiple items which also increases the chance of loss. You might say 2 of 3, 3 of 5 so there's room for error if you lose a few, but still, you have to save a lot more with multi sig which does increase the chance of loss just like single sig plus passphrase. Multi sig is better security, but it requires more saving, you have to save both the private and public keys. Because of this, multi sig is less likely to be stolen, but more likely to be user error lost when compared to single sig plus passphrase.
If you have a single sig with a Passphrase and you lose the passphrase or the key you lose access. But in a 3 out of 5 multi sig you can even loose 2 keys and you're good to go.
I stack BTC assuming diminishing returns and a future bear market. But I think it is more probable than not that we are breaking up from cycle theory, initially by extending the expected bull run, then by people piling in when it is obvious cycle theory is broken.
That means 1 Satoshi equals $10. That is way more conceivable than 1 trillion dollar Bitcoin by 2030 which $10,000 per satoshi. Satoshi is the real unit of account to pay attention to. And things that cost $1 now will probably cost $10 in 2049 as well.
@@RobinSeyr Bitcoin although you can exchange it, will primarily be a storage of value. People will not want to spend it. There will always be government currency in some form mainly because they can require it. How else will they pay SSI? Not with Bitcoin.
@RobinSeyr a small and different segment of the population *suddenly* becoming that many *magnitudes* richer would probably make people more likely to get pushback from the rest of the population, such as the ECB has suggested. That would probably come with physical/security concerns for the holders. And probably hyperinflation of all fiat currencies, and significant societal unrest in general. I don't think I'd want to live in that world.
I think we all underestimate the speed in which Bitcoin will be adopted! Btw. Thank you for being a Member, if I remember correclty you become very recently one? Did you already see our Telegram group? Would love to also have you in there:) Link is in the community Members area. If you have trouble finding it, DM me on Telegram @robinseyr :)
But the chairs are divisible. When the world finally switches to Bitcoin, even those who walk in 20 years after that will STILL benefit from using Bitcoin. In 2050, the sats you got paid last month will be worth more next month. Your reward for deferring consumption. You just won’t get rewarded for investing in Bitcoin early, because it will have achieved dominance. No longer a startup. All that upside will already be captured.
@ people want a lot of things. And they’re free to pursue them. All the real estate in any given city may be already owned. But you can still buy real estate there. When you buy a Bitcoin today, that’s the situation. Somebody already owns it.
Fiat is not going away anytime soon. 1 trillion is not happening by 2030 or 2100. Bitcoins will be an important asset but there will always be sellers as price goes up.
@ I won't be here in 2100, but yes in some form. Government is monopoly and I just don't see people wanting to spend their Bitcoin until they have to. You need a currency to transact in.
Why rush for a "chair" ? Or why rush to buy? Only to be more wealthy than others? Fine reason, but is that the only reason? If crypto takes over, I'll get my paycheck in Bitcoin. What are some other reasons to buy now and hold? (I really don't need to send money across the world anonymously.)
So with the utxo thers no point buying Bitcoin if your buying 100 dollars 200 to 400 dollars worth at a time. Other wise as you say your self rug pulling yourself ! So these UA-camrs telling you to buy Bitcoin any amount are basically conning you not telling you about these things
You can buy in whatever amounts you want, but when you withdraw to self custody it should be a large enough utxo. So stack on the exchange until you hit that amount
I almost bought but know nothing about the movement inside. Felt like a chamce for wasting btc on a bad product. They should market the quality of the movement if they want my money
Keep stacking in my opinion. I think they use a Seiko movement. Personally, I think a BTC watch should have a strategic reserve to pay for long term maintenance. With BTC going up, it should be viable to pay for a service once every 5 years forever based on BTC's value appreciation and potentially robotic servicing in the future.
@@RobinSeyr a watch needs service every 5 years or so. Why not have part of the cost of the watch fund that service. With BTC going up forever, the could be serviced forever. That's the BTC way. Guess I have to make a competing brand to make it happen though.
Get The Best Bitcoin Watches Here: www.coinvigilante.com/?ref=robinseyr
Thank you for joining us today, I'll be back tomorrow with another Episode🧡
The Simpsons did predict bitcoin at infinity.
YESS - Just a question of when.
Wait… no. What, when? What episode 👀
You guys.....infinity is undivisible
The same way digital photo albums exponentially outpaces analog photo albums is the same way Bitcoin will outpace the analog versions of capital and property.
Can you please end each episode with “I’ll be back”
"It's easy tu fire a gun , you just bull dah driggah"
😂😂😂 there is a certain similarity😂
😂😂😂
😂😂
Yeah. Put on the Terminator shades first.
1 Trillion BTC by 2030? If that happens we will have MUCH bigger problems.
Yes, the complete and utter collapse of the dollar beyond Venezuela levels and children are fighting over rat carcasses in the streets
We might actually have those bigger problems...espescially those without btc
Only if you don’t have enough btc my dude
The problems are already here and Bitcoin and XRP will be the only solutions
@@ANGELCRYPT0LAUGHABLE!
XrP is total garbage
"less and less of these chairs available"
Stannis: Fewer.
Tom did my onboarding at Unchained. Super knowledgeable in all things Bitcoin!
He is great💪🏻
Great episode and discussion on UTXO
Important topic - Glad you enjoyed it!
Finally somebody as bullish as me 😂
Using the global asset estimate of $1.5 quadrillion, divided by 21 million bitcoin:
$71,428,571.43 per bitcoin, though this represents theoretical value if all global assets were distributed across the total bitcoin supply. However, since not all bitcoin has been mined yet and some is lost, the actual distribution would be different.
I'll take it...and then inlfation hits:)
On point this one... well done tall lad, more guests like this if you please :)
Yess! On X you can always shoot me Guest suggestions: @robinseyr
Perhaps with Zimbabewan hyperinflation.
yes!
Tom gets it.
Yess - Super bright mind!
Always great interviews! Thanks, Robin.
Glad you enjoyed it Jim!
Great Interview Brother 👍 😊
Glad you enjoyed it
Good one!
Thank you! Cheers!
Yes. I love this type of energy getting put into Bitcoin. It is alive, so it hears all of our predictions. The higher the better!
All predictions will come true eventually:)
1 trillion? Why so bearish?
Hard to take $1 trillion a coin seriously, but a part of me can see that happening like 100 years from now but by 2030? Insane.
You think USD is still around in 100 years?
But the musical chairs analogy doesn’t account for portions of chairs.
You still want a whole chair…right?
Damn, I thought I was a hyper-bull hahaha
There is about 80 miljon people in the world with a net value of 1 million $. So the analogy with the chairs is quite good. Add nations and companies and you will understand it will be difficult to find a chair.
Yess
Another reason to smash the buy button 😊 i want a seat at the table. 😂
YESS!
Great video. I think in kind ETF’s would be massive in the US. It would give an option to cash out fiat for bitcoin to a wallet address. That could pass maybe at some point. And then maybe MSTR gets the power as a potential bank to do the same. Who knows. NFA
Might be!
How is the price of BTC determined and who sets the price?🤔
free market
I believe the price is partially due to the price it takes to mine a block. It takes an enormous amount of electricity to solve the cryptographic hash algorithm. Not sure exactly what it cost to mine a Bitcoin block but it is probably pretty close to $90k +/- ( just a wild guess). That would leave a little profit it sold over at 95k or so. Just speaking in generalities but you get the point.
Stop it. It's not going to be at 1T by 2030 per coin..
Doesn’t matter I’ll never sell and never stop stacking
Maybe, maybe not:)
1B
well... it wasn't supposed to go to a dollar, then no way to ten, then no way to a thousand, then no way to ten thousand, it will never in a million years go to one hundred thousand. so I guess you must be right.
Love the musical chairs analogy, was my favorite game as a kid. Always won. Game theory is game theory, when people tell you not to trade because of bots I laugh at them. Winning against bots, ive been doing that since I was 10 years old on a games console, this game isn't any different.
YESS!
IMO. There is no top for BTC. So its hard to make a price target. The Politicians will print until the money printer melts down. $20 in BTC may buy you a car in 20yrs.
Brother it feels like swatchernager sound no 😅 amazing content 👌
Swatchernager?
I hear that a lot:)
$1 trillion per bitcoin means a $21 quintillion market cap. We’ll stop measuring bitcoin in fiat terms long before then. At $100 million, that’s a buck per satoshi and a $2.1 quadrillion market cap. I can’t see fiat existing even after then.
exactly!
I thought I was bullish.
Danny Does Bitcoin
...IYKYK😄
idk
Wait so adding a passphrase increases the chance of losing your bitcoin because now you have to save the seed and also the passphrase, but multi sig does not? How does that make sense? Multi sig also requires saving multiple items which also increases the chance of loss.
You might say 2 of 3, 3 of 5 so there's room for error if you lose a few, but still, you have to save a lot more with multi sig which does increase the chance of loss just like single sig plus passphrase.
Multi sig is better security, but it requires more saving, you have to save both the private and public keys. Because of this, multi sig is less likely to be stolen, but more likely to be user error lost when compared to single sig plus passphrase.
If you have a single sig with a Passphrase and you lose the passphrase or the key you lose access. But in a 3 out of 5 multi sig you can even loose 2 keys and you're good to go.
I stack BTC assuming diminishing returns and a future bear market.
But I think it is more probable than not that we are breaking up from cycle theory, initially by extending the expected bull run, then by people piling in when it is obvious cycle theory is broken.
I don't believe in Diminishing returns...way too bullish:)
I have been predicting that Bitcoin will hit $1 billion in 2049.
I'm sticking with that.
You are more bullish than I am, but I don’t hate your prediction at all.
Do you predict that in today’s dollar value or counting for inflation?
That means 1 Satoshi equals $10. That is way more conceivable than 1 trillion dollar Bitcoin by 2030 which $10,000 per satoshi. Satoshi is the real unit of account to pay attention to. And things that cost $1 now will probably cost $10 in 2049 as well.
Will there even be a USD then?
@@RobinSeyr Bitcoin although you can exchange it, will primarily be a storage of value. People will not want to spend it. There will always be government currency in some form mainly because they can require it. How else will they pay SSI? Not with Bitcoin.
That sounds like a problem - for everyone, Bitcoiners included.
Why?
@RobinSeyr a small and different segment of the population *suddenly* becoming that many *magnitudes* richer would probably make people more likely to get pushback from the rest of the population, such as the ECB has suggested. That would probably come with physical/security concerns for the holders. And probably hyperinflation of all fiat currencies, and significant societal unrest in general. I don't think I'd want to live in that world.
Great discussion, the future is bright!
Yess it is 🙌
21 Million Chairs - Est 4.5 Million "lost forever" Chairs= 16.5 Mil remaining chairs. :)
YES!
Oh God I hope so -- I'll be dead before everyone's rushing for the last 1 million coins
I think we all underestimate the speed in which Bitcoin will be adopted! Btw. Thank you for being a Member, if I remember correclty you become very recently one? Did you already see our Telegram group? Would love to also have you in there:)
Link is in the community Members area. If you have trouble finding it, DM me on Telegram @robinseyr :)
21 million chairs BTC times 100 million stools (sats). Lol
haha nice:)
1 trillion? :D
yes!
But the chairs are divisible.
When the world finally switches to Bitcoin, even those who walk in 20 years after that will STILL benefit from using Bitcoin.
In 2050, the sats you got paid last month will be worth more next month. Your reward for deferring consumption.
You just won’t get rewarded for investing in Bitcoin early, because it will have achieved dominance. No longer a startup. All that upside will already be captured.
Good point...but maybe you want a whole chair for yourself:)
@ people want a lot of things. And they’re free to pursue them.
All the real estate in any given city may be already owned. But you can still buy real estate there.
When you buy a Bitcoin today, that’s the situation. Somebody already owns it.
I am coming in the gym
I am coming back stage
I am coming when i buy bitcoin
Fiat is not going away anytime soon. 1 trillion is not happening by 2030 or 2100. Bitcoins will be an important asset but there will always be sellers as price goes up.
You think usd is still around in 2100?
@ I won't be here in 2100, but yes in some form. Government is monopoly and I just don't see people wanting to spend their Bitcoin until they have to. You need a currency to transact in.
Why rush for a "chair" ? Or why rush to buy? Only to be more wealthy than others? Fine reason, but is that the only reason? If crypto takes over, I'll get my paycheck in Bitcoin. What are some other reasons to buy now and hold? (I really don't need to send money across the world anonymously.)
There are many more reasons. i have 350+ Interviews covering all of them
Hopium is strong with this one…maybe $200k by May 2025. $5trillion by 2032.
200k in May would be something!
So with the utxo thers no point buying Bitcoin if your buying 100 dollars 200 to 400 dollars worth at a time. Other wise as you say your self rug pulling yourself ! So these UA-camrs telling you to buy Bitcoin any amount are basically conning you not telling you about these things
Just wait to withdraw from the exchange until you hit a desired UTXO, or send it to a self-custody lightning wallet.
You can buy in whatever amounts you want, but when you withdraw to self custody it should be a large enough utxo. So stack on the exchange until you hit that amount
You can buy BTC for 1 dollar, just don't transfer it to self custody then. Wait with the withdrawal
1t? clickbait
It’s not clickbait, as he actually discusses it. Clickbait is to portray something with the title & thumbnail that isn’t in the video
To be honnest titles like these make me want to unsubscribe...
Did you listen to the argument?
My Goal is to reach as many People as possible, and that title does a great job in that. I have data to back me up.
@@harlemsfinest I get the argument of fiat going to basically zero and no one wanting to sell btc for dollars.
@@RobinSeyr I know it probably works, but other channel have similar 24h before.... You only have.... It's all just annoying
DO IT
I almost bought but know nothing about the movement inside. Felt like a chamce for wasting btc on a bad product. They should market the quality of the movement if they want my money
Keep stacking in my opinion. I think they use a Seiko movement.
Personally, I think a BTC watch should have a strategic reserve to pay for long term maintenance. With BTC going up, it should be viable to pay for a service once every 5 years forever based on BTC's value appreciation and potentially robotic servicing in the future.
@mitchellwest4205 that is a brilliant idea, let's start a watch company with Swiss movement and run that as our differentiator
?
@@RobinSeyr a watch needs service every 5 years or so.
Why not have part of the cost of the watch fund that service. With BTC going up forever, the could be serviced forever.
That's the BTC way.
Guess I have to make a competing brand to make it happen though.
Lol , directly goes to trillion 😅😅 these jokers still get us to click 😅
It works like clockwork:)
NONSENSE! There's $105 trillion money in the world that equals $5 million BTC at most.
🤣🤣🤣 your math ain’t mathing
There are 900T of assets in the world Genius
Look deeper, and listen to his argument
@juliend9495 Assuming $900 trillion is your number, that's still only $43 million BTC.
These predictions are ridiculous and make bitcoin look ridiculous. You may as well be talking about unicorns and dragons coming by 2030.
Why ridiculous? Did you listen to his argument or just read the title?
So ludicrous it's not worth watching. Absolutely disgraceful misinformation.
What is wrong about it?
1 trillion?
Why so Bearish?