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  • ah enough about Bitcoin, all you're doing is losing people's money.

  • Why do you want people invested in gold and not make any money?

  • The only people who make money out of Bitcoin are those few people at the beginning, everyone else is not making money right now, 92% of people that have invested in Bitcoin have made money at the current market prices.

  • You're just saying for people to invest in Bitcoin because you're one of the early people you're getting people to invest so you can make money.

  • Hi my name is Sophia and I'm welcoming you to the second episode of nasty debates today, we have a very interesting topic to debate Bitcoin versus gold.

  • What is better, what is safer and what should you invest in on my left?

  • I have Rockwell shot.

  • Hi I'm Rockwell shaw co founder of Invisible College a web through university and I believe Bitcoin is a much better asset than gold.

  • And on my right I have Alex Trebek defending gold.

  • Yeah.

  • Hi everyone I'm Alex I own gold and I believe gold is here to stay.

  • The structure of the debate is fairly simple.

  • Both Rockwell and Alex have 30 seconds to defend their arguments and our audience can either who if they agree with their statements or boo if they disagree with their statements now Rockwell you may open the debate Alex, I gotta be honest with you, I have no idea why we're having this debate.

  • If you look at a price appreciation of Bitcoin versus gold over the last 10 years?

  • Bitcoin has appreciated over 700,000% Where gold is appreciated 15% on top of that.

  • If you actually look at the market caps like the total value of each market, the gold market cap is over $12 trillion.

  • But the Bitcoin market cap is like 607 $100 billion.

  • When you think about how much more room Bitcoin has to grow.

  • It's a no contest.

  • Okay Rockwell but you're missing one very important point over time.

  • Gold has appreciated.

  • The price of gold was $300 in 2001.

  • The price of gold today is $1,800.

  • So actually if you look at it, if you held onto gold you would have made 8% every single year.

  • That's a really really good return.

  • You know most people think That gold is slow and steady but you can see that most of gold's price is actually speculation.

  • Do you know what the year 1730 and the year 2010 have in common.

  • The price of gold did not change.

  • If you invested $100 in 1730 you would still have $100 280 years later.

  • If you actually invested in the stock market and got index based returns 8% per year.

  • Like you're talking about after 280 years you'd have over $4 billion.

  • $4 billion.

  • Okay guys hold on hold on hold on before you kill each other.

  • I'm gonna take a little bit of a break and then tell you about this guy Rockwell actually is the newest teacher, Donna's academy and he's teaching something incredible.

  • Can you guess?

  • He's teaching Bitcoin, He's teaching a master class on how to understand Bitcoin.

  • Probably the most comprehensive class on Bitcoin in the world.

  • Bitcoin's price is very volatile.

  • It can have very bad days, it can have very good days.

  • If you're going to be a Bitcoin investor you need to stay strong even during the very bad days.

  • Remember you're a long term investor.

  • So hostile and also is teaching you how not to get screwed in crypto 101, you wanna tell them about the class.

  • Absolutely.

  • So in the Bitcoin master class we're gonna teach you about this transformational technology that's happening really.

  • If you want to get involved in Bitcoin, if you want to invest in Cryptocurrency, you need to know how to do it safely.

  • You need to know how to do it thoughtfully.

  • You need to know what percentage of your portfolio should you be putting in?

  • Where should you be buying it?

  • How should you be storing it?

  • We're going to teach you all of that and more and remember this is not a class actually right, this is a community.

  • So if I take your class, I will be surrounded with like hundreds of other people that also want to understand but going also wanna understand crypto and we become part of your community, correct?

  • Absolutely.

  • We're here to support you.

  • You're here to support.

  • We're here to support, We're here to support.

  • That's cool.

  • Okay.

  • The classes available right here on this link.

  • All right back to the debate.

  • So Rocco, what I think this debate is actually about whether you're about stability or volatility, Gold has proven to stand the test of time.

  • In fact, gold was first used in 4000 BC.

  • The ancient Greeks used it, the Romans used it, the Italians used it and we still use it today.

  • So gold has proven to stand the test of time.

  • Bitcoin has stood the test of time of 13 years.

  • It hasn't even been through a major recession yet.

  • Gold is the one that I would bet for the long term and I think gold is the one that everyone listening will bet on for the long term.

  • Yeah, I'm glad you brought up gold history because gold has a really long history of doing nothing.

  • So if you like not making any money on your money, if you like having the same amount of money today as you will 10 years from now invest in gold.

  • I think that's a great idea.

  • But if you actually want to make returns on your investment, as most investors do, then gold is a terrible asset plus and it has a very long history of demonstrating that so Rockwell, this is where I think you're wrong because when people look at investing, they also look at preserving what they own, not just about growing, what they, When it comes to any recession over the course of the last 200 years, there is a common thing that everyone has done.

  • They have taken their money and they put it in gold.

  • Gold provides stability that the everyday person needs in order to preserve their wealth and to preserve their life.

  • Just focusing on long term returns is not what every day you need to pay your bills, you need that money available to you to use.

  • So it's interesting you talk about long-term stability.

  • If they pull up the graph of the gold prices, you'll see major drops in the prices multiple times, including in the 80s and the 2000s.

  • And so how can you say that there's long-term stability when you see 80% price depreciation over these time periods.

  • In fact, if you bought gold In the early 1980s, you still haven't made any money and frankly, if you want something safe and you want something secure just by inflation adjusted government bonds, which is what most rational well versed investors do.

  • So Rockwell, let's talk a little bit about what Bitcoin was created to do.

  • Bitcoin was created to be a currency, but we don't see it being used as a currency today, interestingly, gold has been used as a currency, It has been used for many, many other things as well.

  • It's used for jewelry.

  • It's used for electronics.

  • You know there are so many things that gold can be used for.

  • I can't see the things that Bitcoin are being used for.

  • Yeah that's funny you say that because I just saw a headline where we send $100 million dollars to Ukraine to help fight the war through cryptocurrencies including Bitcoin.

  • So one of the things that's amazing about Bitcoin is that travels across the world in an instant.

  • Now I understand your point it's not a currency yet but over the next 100 years as Bitcoin grows and plateaus and gets a stable price eventually it could become a currency until then enjoy the price appreciation.

  • So Rocco, there's one point you're not mentioning about Bitcoin which is it's amazing that you can send Bitcoin across borders and help people.

  • But the truth is today you cannot withdraw Bitcoin in large amounts.

  • In fact a lot of places a lot of crypto exchanges only let you withdraw Up to $50,000 By the way, the price of Bitcoin was higher than $50,000.

  • So that means at some point you can't even withdraw one Bitcoin.

  • So what's the point of transferring all this money around the world if you can't even draw it out and use it.

  • Oh You know it said like somebody who's actually never transacted a Cryptocurrency before as somebody who routinely does, I can tell you centralized exchanges definitely let you withdraw more than $50,000.

  • Not all of us have $50,000 a day to withdraw from our bank account.

  • And I think that's one of the really important points.

  • You know when I think when people sit down today and think about Bitcoin or gold, what they're thinking about is what do I have access to today and I think today the challenges if I want to start investing in Bitcoin there are many different hoops that I need to go down in order to start gold today.

  • I can walk to my bank and I have an ability to start investing in gold.

  • Do you still walk into your bank?

  • What are you?

  • A boomer?

  • Ouch.

  • Unbelievable.

  • I think it's quite clear if you want to invest in assets of any kind, whether it's gold or stocks or Cryptocurrency, there are many ways to do that cash out so far.

  • Robin Hood coin base, there's lots of places that you can go within a couple of minutes, set up an account and buy these assets in terms of ease of use and in terms of your, your accessibility to them, they're all equivalent at this point.

  • So Rockwell.

  • You talk about all these different apps but how many people actually use them, how many people actually even heard of them at this stage?

  • You know, I think when it comes down to many, many people today, they rely on 1-2 apps to do everything right when it comes to their money.

  • And so the concept of just starting with all these apps they don't know they don't trust is a big step and I think many people are not ready to do that yet.

  • You've never heard of Paypal like seriously you might actually be a boomer.

  • I mean There's there's so many apps, it's so accessible.

  • In fact over 50 million Americans.

  • Transact with Cryptocurrency today globally.

  • We're talking about hundreds of millions of users actually have access and use crypto today.

  • So one of the important things when it comes to investing for me and I think for many others is around safety.

  • You know when I think about investing my money I want to ensure that it's somewhere trustworthy that I have a fallback that it's reliable and I think what gold has been able to show is that it has regulations around it.

  • If someone's broken in gold or trader in gold they have a whole system of how they should behave.

  • Bitcoin they do not yet necessarily have a system in place to hold people accountable and I don't know about you but I want to be able to know that I have a system that I can trust.

  • It's funny the things that you're saying, I'm not quite sure that you've researched them fully.

  • 100% many of the gold E.

  • T.

  • S.

  • Are unregulated, You don't actually know that there are gold bars, somewhere in some vault backing up what the E.

  • T.

  • F.

  • Audit actually says.

  • Additionally, when you're talking about centralized exchanges, like Coinbase, Coinbase is a highly regulated company.

  • They have to have all sorts of licenses to operate.

  • They have to work with the sec actively all the time when you're talking about safety, When you're talking about security, many of the centralized exchanges are far better regulated than these goldie PDFs that you might be investing in.

  • So Rockwell who found a Bitcoin.

  • So Alex who found in gold.

  • Mm hmm.

  • So the fact is that gold physically exists, gold is here in the world and we can actually find gold.

  • Right?

  • With Bitcoin?

  • We have claims that someone created it, but no one is quite sure who that person is.

  • We don't know the ethics of that person.

  • We don't know whether there was another agenda and we don't know whether those people who have essentially accumulated wealth through Bitcoin may have other purposes or other things that they do.

  • There is no visibility at all over this.

  • The beautiful thing about Bitcoin is that it stands on its own, it doesn't need a founder.

  • The code is open source.

  • It's auditable and that's the point that if we want to live in a world that is more decentralized and we need a system that's not reliant on a human being or a set of human beings.

  • It doesn't really matter what the ethics or who this person was, what matters is what the code enables all of the use cases that's building a new money, a new digital decentralized money that's tamper proof from centralized control.

  • So one point we need to talk about when it comes to Bitcoin and it comes to gold is the number of scams that get reported day after day after day.

  • You read about someone getting scammed, you read about people losing all their savings, there is no accountability with Bitcoin when it comes to scams and that is the reason why people need to be careful about Bitcoin.

  • That's the reason why established ways to invest have been able to eliminate a lot of this fraud, a lot of these scams, why should anyone invest in Bitcoin when there's so many scams going on, buying, holding Bitcoin is an incredibly safe activity but just like any technology, there's many sides to this, I get phone calls almost every day about some expired warranty from my car that I don't have right scams are prevalent in all areas of our society, not just Cryptocurrency, unfortunately it seems like you've been brainwashed by headlines and sensationalist news media.

  • Yes, there are scams in crypto but there are scams everywhere and yes you can 100% invest in crypto and be safe.

  • So I think 11 point, so we're not talking about is the impact of Bitcoin on the environment, you know today when we reimagine things, we think about how we can do things that are better for the environment, not worse, but we can see the carbon footprint of Bitcoin, we can see the Bitcoin mining hurts the environment, so why do you want to contribute to more environmental damage rather than trying to improve the environment?

  • So one of the fantastic things about Bitcoin is that over half of the energy used to mine Bitcoin comes from renewable energy sources.

  • In fact, they're building it in areas that oftentimes our remote villages or places where you wouldn't necessarily see this infrastructure and one day, many years from now past the year 2040 when all the Bitcoin mining stops that infrastructure will remain and can be repurposed to build local community energy resources and frankly contribute to the energy pipeline in the world.

  • Well that was an intense debate now, before we let the audience vote, I would like to hear your closing arguments Alex, So today we've had good points from both sides and I think from my perspective it's not saying you can't invest in Bitcoin or you can't invest in gold, I think what you really need to decide is this, am I for stability or am I for volatility?

  • I think day today, when I live my life I want more stability in the money that I have and that's what gold and other assets similar to gold bring.

  • That is why I recommend that you vote for gold, Thank you Alex Rockwell, So I definitely agree that when you're investing you should have goals and if your goal is stability, I mean you could take a look at the gold graph, it's not stable in terms of price, but if you