What will be the price of Bitcoin in 10 years from now I can guarantee it 10 cos there's only 29 Bitcoin Navigate to the mall how important is price for the future of the crypto industry when you could you Turn up the price we we up it takes more money to move it around you get more stability What are the factors that may Drive Bitcoin to $1000000 Technology Getting sucked said never have I seen a black hole like this Florida future scenarios awaiting Bitcoin and the crypto industry with Road Paul Clark Moody Claire Lovell official guard Cena neither These are the highlights of crying Telegraph cryptotrader slide So why don't you babe into the first question Arm and I just You know our strike with a conclusion I'm in water people's predictions Star for the price of Bitcoin In 10 years Let us start off with Irish I want to kick it off or on So I can get price predictions they generally don't Other than I think it will be higher than it is today R&R likely my tire It's not too late so don't go go to your research and someone's supply Be aware I think about it is I think that the standard Analogy people use a special gold Just going to do the background Call Liberty trillion-dollar market cap if the going gets anywhere close to that it's about the same Metricon be worth $380,000 You know if you can't eliminate Roughly 15% of Bitcoin that has been Last year's I said she's quite as you get close to the 450 And of course no reason to think that between couldn't be bigger than gold I could come from a technology background the way I was think about it is When New Markets marriage we often underestimate the size of them so like the the knock against Uber at the series I was wealthy Taxi industry is worth $10 I could possibly be worth more than $10 Everything register realise when you put Something on the mobile phone and 2 billion people to accessing the button Market sizes all the sudden become text bigger than you thought Actually Several hundred dollars in a million actually the point of the panel Looking at it without lenses Potential question that happens if that happens to do their own research but I think actually there is some math the backup that we can Makes lot of sense Let's see Claire do you want to give us some views just and general on Maori think they're Start a future price action might be many years out Yeah I mean I want to see your old just because I'm Convince I don't actually believe that obvious Lee you know I mean I don't know what Prediction neither but obviously I'm long-term polish on it I think the thing that will very likely to happen as that's all be less volatility and it's so thing It will be a very different I do definitely agree that it's The price will be a lot higher I think even the short-term the price probably wall 10 years from now you know I think it's still has the potential to be a life-changing investment even if you got into it today Never have I got any before today I still think there's a huge potential for people to as investments Yeah Hopefully I like weather now Make some severe Clark would you like to offer some beers That's I recently read an article About the 10th anniversary of the first Mount Barker Which was July 17th 2010 And Bitcoin treated at 495% A few a few weeks later but see On October 8th 2010 it was a penny So It's come it's come 5 6 orders of magnitude Price increase so far I mean The other the other The other side of the coin is what's the US dollars purchasing power at that point When a gallon of milk is a million dollars than Ron millionaire but doesn't I don't know I think I think the The boys case for bitcoin in terms of Ever Ever printed Avatar valving Fiat currencies Is pretty strong We've come a long way so far Madden c It's easy to say you know current price action It's easy to say I will never got 10 x 4 But you just do my a little bit everybody Fair enough and I can see the wheels turning in Rouse head Raoul I would love to know your views on this Can you estimate where are we Look up my view that you're back Golden eagle Frisbee large numbers Let's look at it from a different perspectives because it will for me with that The adoption curve I think it's very interesting to me Is Understanding having been in it Institutional investment in world last 30 years And the point being is 200 Billion dollars What is now Bitcoin It's not even an app The People no That is Siri Yeah they know the players in gold they understand how much work is going on in this understand Husband the radar screen If Bitcoin goes up 100% wish I could go over the next Well within the bounds of normal ASIC Mangawhai from the Berlin Wall And then everybody is the sun Are we seeing this Before is they all have to pollen now if you have an understanding of the issues that are embedded within the pension Probably Adventure test is dramatically underfunded Essentially just lost Bonds as an asset class Because as they trend towards Zero or negative rate Forget the negative rich red herring Screaming on my god It's not that Is the dog work in a portfolio Ability so people lookout goal but gold is not so liquid It's a bit more complicated It will fit in with Endowments of that So that's come So you gotta think about the everybody short the outside so if it rises it Rises I'm more people adopted and it gets big And then there's me go Over the next 10 years where I don't think we fully get to the 21 million Bitcoin but what happens is Is We stay buy some price Because the stock to flow has changed You end up with a Ability I think this is where it's all going in the end whatever that Price is It becomes the global benchmark collateral a new disc So could that be a million dollars 10 million dollars could be fined $1,000 Sure The point being is we will unlikely think of it in the times we think about it today if you think about the digital Currencies are coming for central Banks now We know the world is Matt change from We know this is everything well working on Is a dramatic Change So it will be a different A different way but Have a feeling that Is a good probability that is The independent collateral Could you if you more and especially here in the states with the occg Approving federally Target Banks 2 Custody crypto The Pretender light to come In a lot of some would have been so you just said there's also a great Segway to the next question But which is kind of People are inherently interested in the price but Why is the price So important to talk about it Answer me you can sort of the start this afternoon if anybody else has any faster What is it about Why is the price of the manifestation of metcalfe's law essential What is showing arse And the value of your dog So as it's becoming adopted whether it's By the network effects of Money transfer which I don't think is what Bitcoin Call application What is the story of Clearly going on You know the proliferation exchange is the number people involved Rugby So I think the price is reflection of that I've always call that call options The way I think Because it Is it Bitcoin goes up Well The whole ecosystem from Lock chains with Mariam to Domino to whatever All grows out from And so If those things are going to succeed Bitcoin And therefore The Bitcoin price of I think it's Yeah we got metrics and goals and f Yeah you have to be careful not to complete the metric with the goal And and the price is one of the metric so we should look at really the goal is is an option and a goal is there there New and better ways of building the systems now so much of the Legacy financial system Was was built architect from up from my computer science and prospective like the 70s in the 80s And just a state-of-the-art Technologies as well so much in the last 4250 years Poverty in Russia and answer the lock in the network effects keep us not into his Legacy systems Cancel Tell me when we start seeing his large numbers on price would it hopefully signifies actually that is really Value Underneath Not actually The price is just a metre You see a lot of people come into the retail space because they see the price move and I get excited and then After Realise what an amazing technology this is an all the potential for the future applications And so I think that the winner prices hi we Brett kind of old does a long tail the docks in that comes from that and that's why it's so important now but I think the price also You get you get the liquidity volume So at 10 a
m Same quantity of Bitcoin on the order book Is 10 x 16 times as much money To move the markets that's kind of this I clear the earlier the stability Aspect You wrap the price we way up Give me the round Organics live sensor Corollary Question to all this is Help portal Car price predictions The crypto Smith generally in ago so for Bitcoin it's Liquorland Hear about how Price can be a proxy for adoption Preston via proxy for a lot of other things So I guess in that contact Our price predictions Prissy important for people or is it Is that sort of disabled Maybe we can start off with Corolla the movie Clara hasn't Like I think it is important And it's import For the simple fact Back Talking to talk about Common larger price Structure prices The pass ABC Sexy showing Not how much money I can make Whirlwind Mark We want to make money It's also The magnitude of the How big is the adult What it means because Would you get your head around Get your head around it so this is great asakasa can make some money And then you realise you've only just started your journey And everything you thought you knew Everybody go through that And then And the price I think Plan b Credibly useful I was right or wrong Kitchen on the standing Of the Mack And that is what keeps Bc's in business Is it brings entrepreneurs to build businesses around All the If we will send it Well priced can we stay at about $10,000 for the next 20 years You know we would change and what the kind of stuff we did Personally I honestly don't put any stock in price predictions up again like I don't think it's going to be 0 you know I think it's going to be higher so I guess that's a prediction of some kind but you know You know There's no data day month month year year Price predictions that I think really have been turned out to be super accurate over time it's very hard for people to You know So many conditions are changing Plus You know once in a century point in history in several different aspects right now but can I think Read me ASAP for the price grow so You know for me it's about fundamentals do I believe that this technology whether it's Bitcoin or something else has You know The power to change the world is amazing technology and that's why I got into because OK this is introducing something really new That's really important Dick when cash you know if it's at the time of the foregoing to believe in it for the same In that same way because How is this really different from Bitcoin into me you know what that time Really So I think People you know I'm kind of more like Warren Buffett you know values fundamentals taken best My silent As well you know he's a professional So that's kind of where I'm coming from it Make slime I was wondering as a VC in the Beautiful things from from ro and Claire About the predictions and then well maybe Rather attach of lenses Jama Narelle How do you think about Maybe some of the article or is it come to you In the space how does that how does a soccer player I would like to find something they said which is Probably isn't going to 0 I can guarantee it when I got 20 cos there's only 20 million Bitcoin if it gets $4 or just buy them all So are you Her first start speaking in the middle Guarantee Ok get to 0 How do I think about it awkward This is suffering And and kind of The breakthrough here It took me about 2 years ago my head Is that The first time ever The bits inside your computer or money It's a very important difference from the bits and the computer represent money which is how it is in the legs Some database and there's You're at your bank account and it says you have the money and then you can go to the bank and get some US dollars But the bits of the computer being money is a pretty fundamental shift because what that means is that You secure that my teacher or private key which is another set of bits For the first time ever Computer is pinot noir They can take custody of money Are animalia negative values Call new universe People being able to TransACT with machines Machines being able to TransACT with machines And any time we see in that happen anytime within the digitisation of something that used to be Adam's and it runs in the bed The market explosion in the way to people deal with that you tend to get trillion-dollars Ray just think about Lake you literally Anything occasion technology or any sort of the position that happened and can't be unlocking a value This is really is run for ramble money what could you do what you can program money And if you think about it a lot of the world is basically Here is a pile of money And here you are Some rules around who has access to that my And under What conditions that money can move around And on some future time Horizon I want you to do x y z things with this money And today with Spotify that and will be called legal code And we just think all of that get Spotify to computer I got really And that strictly think about it the one think of it about the humans Is deterministically executing instructions On some future Literally anything that is real Equities Bonds derivatives will Trust Astro any of these things are fundamentally here's a pile of money and some rules around that money Receipt And I think many years happened with the cats of 20 to 30 year But your number is that's at least as big as the Internet if not bigger In terms of like the net impact Houses on sale The world is just here is a pile of money with some rules around the money For the first time ever we have infrastructure there's a proof Accepted That is actually perfect signature Question which is in a what are the factors That will drive us toward a million-dollar 4 Bitcoin If we assume that through in Africa It's looking more and more Everyday Banks are realising that digital currencies did it digital asset I think the need to be embracing What are the factors are all wish we what is that due to the price of big So who will consult with Clarke In the space for a while having seen a lot of sort of develop What do you think of this does What are the factors What contributes to Bitcoin Some of the value of an Have any money Is determined by The aggregate Reserve demand Reach individual has So I just involves more more people deciding I want to hold a positive What what precipitate Mindset change Are there other places on Earth that switch $2 after the That happens pretty quick Money is a huge And If you're looking around in more more people each day are you Hi you might tell your employer hey I need to get paid in this other thing I think You know The process what happens could It's one of the exponential price Where Once you start turning the corner on an Asko oven Happened so much fat Think I think it would have I think it could The only underlying The underlying factors If you got money I guess I'm curious kind of like well we're seeing it really about mealworms and Quicker Why haven't people yet realise That is this sort of sound monumentum in all of the critics of people can have with you at system Address You can't have 100 volatility sound money The concept of sound Reality is Didn't tell your grandmother is 90s So what were trying to build as a system that is a future sound mummy We believe it has inherent value more than it has now because of this Sneaky attribute Clearly is not sound money now Because it goes up and down It's kind of a weird old world We need to decide Weather Rexy believe that Bitcoin will be the money of the The Clash Ora sideshow within the sea Not know any of these answers yet How did the central Banks deal with The issue themselves I didn't take a walk away and go let's go back to a gold Bitcoin standard I think it becomes a personal Reserve went gold as remainder personal Reserve Anybody In operation I want to come back around to that in terms of inner what year The ball case in the bearer case would be If you have something more to replace But before we started driving to that I wonder if Clarity are all rubbish from the other side What factors might of Drive Bitcoin Threw up into the Yeah I mean I think I agree with Clark for the most part Mainstream use case is an adoption right now The average retail investor or an investor You know average retail person I don't understand how do I use this how do I get into it It's still When it is easy as using a credit card you know I think Well well on our way but there's a lot of people trying to figure that out you know Bitcoin may not be the one that gets so Sarah because of all of the issues with the technology being too slow Annalise girl and that way But And then I don't know which one it will be or if it would be something else you know I think I'm having it is a claddagh all is an address Idea You know I firmly believe that money will go digital just like every I just I don't know which one it will Beatrice Li Michelle What do you think about that terms of fun I guess what would be Some signs that there are other It's coming up to suit Challenge bitcoin in what word of make it Less appealing to be in Avast Can I drive AFL When we think of a rest and sometimes I think the question you're asking is that what it what are the standard I think there are technology I think there are market risks and I think there are regulatory Address for example is perhaps The the city west group of work approach just doesn't continue the scale To Mission Beach And you know I think there are ways to mitigate that people lyrics Teksystems There are things like proof of spacetime Still alive Former cricket work is hard drives into the CPU and people are Bring that research to market companies like chia Or a product IKEA in Space mash Susan Tara category there And the second category run market rest because really Does it turn out the path To 6000 effect forgot to market strategy is one of digital gold Something like it very I'm which allows you to have decentralized finance regenerate yield Zero interest rate world try not to be the Killer go to Mark And then you're not on the regulatory think there is some significant other questions in and actually has a pretty significant event Only because I have really sorry about the regulatory thumbs up as being Not a security at the grill Sonia some degree of ok from us regulators so other other countries are less or more ok with The way we think about it is how do you get it There are ways to mitigate prices Other approaches When you when we look out of It's still a far away you still had our lord Yeah even on a risk adjusted basis That's that's where that just had such a bleed in so many ways ID imagine something in the short-term replacing it But again if you take a 50 and 24 timer Rising Can you believe in the very early days of this 15 to 20 years of compounding from something starting from a very small base Sister Is there a long run my hair It's also worth mentioning perhaps set It's not necessarily want to take off Even this in the winter And so it is not necessarily the case that if between everything else wants Vale Are you looking at social networking which is a highly liquid business And Facebook a force one big but if you were in the seed round of LinkedIn Twitter 25 billion dollar Quite well and so Yeah As investors week we throw recipe together we'll to take you into Reminder It's going to be a parallel here but you there more than one mate Speaking of the regulatory field of side of things Just briefly Here and After 2 hours Point about how Just a massive of an opportunity and how big of a Sea Change while getting to live in walkthrough Which is just phenomenal An amazing I'm kind of reminder to sort of the separation of church And I wonder if the separation of State and money Is a thing that Government Will Allow Or is it something that will have to be sort of forcefully Results for lack of a better word Get a rich people buy art and cars and they're outside Dayton You don't we can all by golden So Bitcoin or whatever it is still What a living estate You'll end up somehow able to TransACT with the state It's ok to Alice River Cayman Islands Yeah the established church Surf report function as well In partnership with So The church Or the local witch doctor or whoever Is the Chosen in appointed by the state To be the one way The intern Obedience to the king Or the chief or whatever Is Or maybe the chief is God himself So that disobedience is now Heresy and you can be thrown into the volcano So I think that role has been replaced by the intelligence The Economist the fair the blue Blue Ribbon panels Lisa the same function As putting a scientific I spend on what the state wants to do Print The solution to every problem that sounds great so I asked you So it's kind of this We find academia you Rubber stamp all the things we want to do with a scientific A stamp And that's replaced kind of the role of the church in Sydney Compliance with the king of whatever Yeah I mean I was just going to say before you know I think Kind of the previous question as well like there is a global Reserve currency though Rain and FC US dollar So yes we have Pounds to Euros we have dollars but you know if I Go to most countries that US dollars going to have a lot of power you know Bitcoin or whatever it is might be that same thing and I think about the idea of separation Church and state Similarly Elsa think that there may not be as many governments is there are you no long-term we may not have you know Countries may have 20 year You know I think there can be you can some consolidation as well Especially for a countries that are able to financially support themselves So I think it knows scenarios this cryptocurrency you know maybe come that reserve currency for Baby seats in which case the state actually has a vested interest in allowing at 2 Just like in a lot of seeds that have trouble with their money volatility in so on rape day Happy to have US dollars in the system or They're not happy you know they're rest a lot of Just Russian if they don't go along with it so as any potential for that as well but I do want to go to the rent so Are spot on in you know you will get the number The US dollar is something like 65% of koala Reserve is in the Euro is 15 to 20% Do you have a very interesting parallel with Global Currency Canadian dollar inside Been I think I know what that touches uneven is it going to the game theory of the song and so put on your I think they're at the apology for an actress You are supplements Where is the Chinese government there is of the European governments you There is a decentralized cryptouniverse bitcoin included And I think the interesting game theory here if your the Chinese government is You have your digital R&B initiative Are and you are potentially cut-off From doing what you want to do because of the US dollar And so you have an incentive to try to push a visual R&B And if you're only system works great you win you win big And they're going to Melton Road and it's really smart I'm going to the credit to change Investing in technology and greasing it and using it What is an expert Australia Likely not To continue to exist in a us a system the next might actually be to support the decentralised And allowed to flourish Such that it actually Are you serious is a countdown to the USA And continue to sort of Diminish a percentage of country reserves in the USA Losing share So can you get something in there that is another 10% of country Reserve And get to the US dollar 50 There is a very strong opinion And we will do it as they will likely support the infrastructure behind it Without letting the citizens on too much About civil unrest Bitcoin Very happy happy 6th design there and have mine is there because I wasn't Continue support If you take that is ok well then Was that me for the USA And I actually think that means of the obvious Lee they have to try something original dollar As a kind of dance desire and be and Or existence of this us System Look at something like healthcaregov It's not like he was talking executed And so they don't have a great tracker to do in high quality software and shipping it on time and making usable What is The Leopard digital R&B system when no probably not Actually is to embrace Because so many Avicii is around here Valley Show me the company the biggest companies in the world Are already in the US and so actually what you really want to do is embrace the cricket Analogue US dollar to be the fee on around fan off That system so you can continue Have to do a m l in kilos I think you play the sound I actually think there's a natural equilibrium We're government slavery to having to compete against each other actually all independent support decentralised just done because it's The second best alternative The other government winning So I'm actually pretty boy being a total separation of Church and state but I think you actually end up in a system that Think that you can coexist with The artist and because I got my kind of how to So what question for me here If you could Provide Your your your company's perspective On the industry overall I should cut a long-term vision for me Crypto and the blockchain it's retarded all please together so just threw a big picture Mura freesouls personally Wake up in I'm so Clara movie want to go to start of their Sure Yeah so I mean obviously both myself a Gemini or a long-term polisher I think you know short term I expect to see a lot of professional trading still dominating Before I think the retail audience They're coming but they're not they're in the number set in Like to see but Tradings just one small aspect of what I think you know Will be part of this ecosystem so one thing that they haven't really successful Gemini as we Wants to digital art platform which was nfts Gateway You know back in March so it the timing we thought would be horrible but it ended up being amazing because everyone Certainly not able to go UNE or in person and they've been a broken some records for the price of their Salt Images very successful in a very short amount of time and I think All of these amazing you scared as we probably haven't even thought of you know Panel represent several people who spent in Abyss leader entire career is on this and we haven't figured out Probably you are Sell United treating is going to dominate the conversation in the industry today and then I think the next applications Money rebel have Decentralised banking decentralized finance snowboarding interests taking all these things But I think there's going to be a lot of Outside of just money And I don't know what I think those will easily be you know million trillion-dollar Industries you know Upper deck Clarky Warner Tristan parts in terms of the trigger big picture theatre I would I would say that From my experience I would say that this is a retail LED phenomenon so far Kind of the The other side of the coin and we haven't really seen Real Sovereign wealth funds Gigantic pension funds Things like that So I may just thought you not throw that in there The other thing is you know you're getting a lot of a lot of this legitimacy You know the custody rules and things like that Making it easier to deal with this and Legal for Lodge Larger players to hold on to it So that that's a big ball that takes a long time to get rolling The precipice of You're here letter to continuing to roll art In the meantime I roll any kind of picture password The my involved in space Promise Tony what happened in 2008 The really from being on the ground in Europe 2012 But when that goes through your head Here I was living in Spain Whereabouts is the banks Eventually To force Borrow money over a weekend Save Realising that the whole thing was a man Collateral the Hulk Was rehypothecate It claimed it wasn't so in the middle of the ACC in Euro clear all of these things that anything about I got stuck into all of them It's a massive who owns what It's a mess in Lethbridge it's a mess Every la When I realised Read something different so I was trying to set up the bank Back in 24 Which was trying to be the world's safest pain Had no Leverage that had Yeah if you if you deposit And it just was complicate Buy a bank in Berwick chances of Singapore we tried in Europe we tried Introduce me to Bitcoin office in within headlines Stop that sorry 2012 Period And then I realise that What is interesting about this face I come in from this People coming from different angle What is incredibly interesting never have I seen a black hole So where Where All the smart guys in technology Getting sucked in Smart guys in finance getting sucked said The Conners Philosophical think is the non mainstream economics people Everybody's been sucked into a space which is like a Superbru Whole Of I got seen anything of this magnitude In terms of the cinema people And the size of the Because you know when you started in the internet didn't know the out We're no How big money is Money from the oldest things on earth We know the signs It's not just about mummy Everything is going to be token ID literally everything Digitalisation Is a shin of asset No I'm just gonna head surround Maybe you know maybe an eleven year old today Operates online is a better idea than we do What did sisation And the value of the assets as Everything is It's up Queen Telegraph like subscribe and Carter
