Bitcoin Forum

'Max Keiser has a virtual sitdown with Patrick Bet-David to talk blockchain, cryptocurrency and bitcoin.'
https://www.youtube.com/watch?v=E6cat6olvfQ

Don't know if I agree. Its something to get an introspective of the situation with its effects on the global currency market.

We remember that after governments and international health-related organizations announced the rapid spread of the coronavirus, in mid-March, Bitcoin and the cryptocurrency market in general dropped sharply in value. After that, it took a relatively long way to slowly recover their prices.
However, in the future, the economic decline in production and other negative consequences of the fight against the spread of coronavirus are likely to trigger the onset of a global economic crisis. Sharp and high inflation of common currencies should lead to an increase in demand for decentralized cryptocurrency as a financial asset that is not subject to inflation.

You don't know if you agree with Max or the host?

Max is a Bitcoin bull and I like him because I'm bullish myself. To me all the facts he gave make sense like everything about banks that were bashing it and then started buying in secret.

I don't think that the identity of Bitcoi creators matter. It's a waste of time to keep looking for Satoshi because his identity doesn't change the idea behind Bitcoin.

Judging by the turn out of events and the precautionary measures put in by WORLD HEALTH ORGANIZATION, I will say the out break of corona virus was a an avenue to hoist the flag of Bitcoin as it further reduced the spread of the virus through cash handling as people preferred to use bitcoin for their financial dealings rather than using cash.

I didn't agree with the host. He is just pointing out his views to accommodate the guests on his show so to not be a bad interviewer.
As you can see with their most recent interview with CSW.
https://i.ibb.co/sgNhkqq/5PhDs.jpg (https://ibb.co/Fhy9Nzz)
1 minute preview:
https://www.youtube.com/watch?v=EAwRAcSwobo

main discussion:
https://www.youtube.com/watch?v=0JvDauIX5lg

OP, can you give us your summary of the interview, and the part of Max Keisler's opinion that you disagree?

In my personal opinion, it did help the Bitcoin debate. There's $6,000,000,000,000 printed in the U.S., to bail out everyone. That's OK, but if the government cannot maintain economic, and monetary stability because of that, Bitcoin is the back-up/fall-back/opt-out mechanism.

For now, I do not see that the pandemic has had a positive impact on Bitcoin, because in terms of price, nothing has changed since the beginning of the year and in the first few months of 2020. Maybe someone thinks that the world will completely switch to digital form and that Bitcoin can just replace all or most of the world's currencies, but such things do not happen overnight but last for decades. It is also a fact that most countries in the world protect their national currency as a mechanism of national sovereignty in the financial markets. Some of them can regulate Bitcoin and allow it to exist with the existing financial system, but such visionaries are rare and are usually technologically/sociologically developed societies.

Bitcoin may be part of the solution, but one should not expect any dramatic changes in the short term - because Bitcoin is still a technological challenge for most, and to spread among the masses time is a key factor.

Well, I like it that Max Keiser is saying Bitcoin cannot be put down by any government, but this hint of it being a divine creation was weird. Saying that Bitcoin is similar to gold is something I dislike about him. And as for the pandemic being good for Bitcoin because the govs are printing money, I don't think this is a strong argument. It's not like the major govs are close to pushing the printing close to the currency bursting from hyperinflation. And the FUD surrounding the pandemic did affect Bitcoin negatively. Bitcoin recovered from that after a couple of months, but it's still struggling to move forward or even stabilize closer to $10k than $9k. I think Max is too optimistic in general about Bitcoin winning over traditional players.

Bitcoin's price does not agree with the thought that the pandemic helped bitcoin in some way. There were reports that Americans were using their stimulus fund money to buy bitcoin just 2 months ago but the price remained as to where it was sitting: $9k. If there were really a surge of people buying into bitcoin to safeguard their assets and money from devaluation cause by the pandemic, I'm pretty sure we'll see some sharp rises by now, but that hasn't happened even though a lot of positive rumors have passed.

Max Keiser's POV on this interview is spot-on as always, although some of it is just biased given that Max is a certified bitcoin bull.

This financial crisis certainly brought a lot of attention to bitcoin.
Bitcoin hold steady, we are now in an interesting price while many world economies and stocks are struggling.

At the same time, governments are printing out money, increasing fiat supply, while bitcoin is halving.

Interesting times to be a bitcoin holder.

It would be a mistake to say that corona virus has not changed Bitcoin and cryptocurrency. Initially, there was a huge increase in inflation during the corona virus. Although this inflation has overcome the crypto market very quickly. I don't think corona virus helped Bitcoin or cryptocurrency because this has not changed much since the beginning of the year.

actually it was a little different. the announcement about the rapid spread came a little before the drops and in fact things got bad when the cases started piling up in US and they couldn't hide it anymore. then the global markets started dumping and then bitcoin dropped.

the recovery that bitcoin had was not slow either. after reaching $3800 the recovery started and in less than a week we were back in $7000+ (84% rise) and in 16 days price reached $9k+ which it still remains.
in fact this is why i consider the situation with bitcoin to be pure manipulation rather than a drop because of COVID-19.

On one hand I like that he's allowing people from both sides of the barricade to be heard and that he's not interviewing them in an aggressive way, like some journalists on mainstream TV like to do.

On the other, some people like CSW should really be boycotted. People who keep on tealling lies shouldn't be invited to any shows. I bet most of us are tired of this guy and he can be dangerous to newbies who are looking to buy some crypto.

I'm not agree that the corona virus is a big help when it comes to the debate because corona is the number one reason of having a very bad experience in the year 2020. A lot of poeple got infected and died and most of us got fired in our jobs because of each and every country's economical status so how can we say that the corona virus is a big help?.

I supported what you said about the coronavirus changing cryptocurrency market but if we compare cryptocurrency with the world economy well see that crypto doesn't change much which is the reason why I'm convinced that coronavirus does help cryptocurrency because it show crypto strength to the world and those that dont believe in Bitcoin now changing their thought.

In meantime, it good that people now see Bitcoin as something that cannot be put down by any government.

I'd say it again that the lock down helped bitcoin. This is because people spend more time on their phones and in one way or the other, they get to know about bitcoin and other altcoins. I came across someone who joined crypto lately, asked him how he came to know about it all and he testified that it was due to the lock down. Obviously, I wasn't wrong with my opinion.

Although in the beginning, bitcoin was not immune to pandemics and although its contribution was small, bitcoin & cryptocurrency still helped the movement of the economy. Both beginners, investors, and traders have the opportunity to divert and cover losses due to the sluggish performance of other investment products. The spread of the coronavirus and quarantine policy forced people to work from home. So people are starting to think of new investments with quick returns, one of which is by trading crypto assets. As the public's understanding of crypto assets increases, trading volume, and cryptocurrency is used.

I'm not sure about the past tense in the thread title. Lockdowns may be over in a lot of places (although there may of course be further lockdowns if cases rise again), but the economic effects of CV19 are barely beginning. I think we are all aware that there will be huge economic fallout from this. We are starting to see job losses and business closures, but these will get worse, and the huge amounts of money that were printed out of nothing in order to keep economies afloat must be paid for. As the problems of fiat are thrown into stark focus, that is when bitcoin becomes more appealing.

Actually, Bitcoin value dropped well at the early stages of the lock down but to me it is just a coincidence, we were actually awaiting halving then and even after halving the price doesn't just shoot suddenly. Secondly, since Bitcoin is a digital currency the lock down does not stop users from operating in their rooms. Thirdly, since it is decentralized, just one country or government cannot pull it down. Had it been we were already at the bull, maybe the global economy effect would have been noticeable.

So the banks started buying Bitcoins in secret?Does anyone have some secret insider information proving that banks started secretly buying Bitcoin?I don't think so.This is all just rumors,lies and wishful thinking.
There's no clear proof that the coronavirus pandemic "helps" for growing the cryptocurrency markets.
The crypto markets are stagnating,just like the stock markets and all the other markets.
We can decide whether or not the pandemic helped for boosting Bitcoin after the end of the pandemic.
Nobody knows when the pandemic will end.I think it will end after 2-3 years.

What the critics say, "Bitcoin is too volatile, it's not a good store of value".

What also the critics say, "Bitcoin market is not moving, it will not attract investors".

Make up your minds!

I found this discussion interesting. While I like Max and some of his points I must say that the strongest disagreement is one one of his points. No bank had insights before hand to be able to buy in secret. In fact that statement makes no sense at all - why would buying in secret be so sacred?

As for the virus helping our crypto, I think yes and no. Yes, as it might have contributed to more awareness and no because investors got cold feet and weren't as risk averse.

It only helps in a small way on helping people see that there are instance that online payment is more superior than cash.
And it would help lessen or slower the virus spread out but other than that I don't really think that corona virus help Bitcoin at all.

There are numerous articles about JPMorgan trading cryptocurrencies right after their CEO said that he'd fire anyone found doing it.

Also JPMorgan tried to patent a Bitcoin alternative while attacking the original in the media to discourage investors.

It's not really wishful thinking. Wishful thinking is believing that banks will always be honest with their clients and their bashing of cryptocurrencies doesn't have a second bottom.

https://steemit.com/bitcoin/@ura-soul/as-predicted-jp-morgan-caught-buying-large-amounts-of-bitcoin-after-public-statement-that-bitcoin-is-a-scam-and-no-jp-morgan
https://news.bitcoin.com/after-the-boss-calls-bitcoin-a-fraud-jp-morgan-buys-the-dip/

Is $9.5k an interesting price for bitcoin? That's just a normal price for bitcoin and nothing's new to it.

Maybe, some of the people are taking this opportunity to learn and use bitcoin so that they can somehow earn profit while in quarantine.


Financial crisis don't really have a positive impact to all of us, even in the coins that you are holding. This inflation really brought us a struggle in the crypto market that's why other people are scared to engage in investing to it. Economic crisis like this is not a joke and it is really hard to cope up with this problem when this virus is not yet terminated.