BITCOIN IS THE BEST FORM OF MONEY - Fred Krueger - BFM037
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- čas přidán 31. 05. 2024
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Fred Krueger is a Bitcoin Investor, professional trader and entrepreneur with 10 successful exits. He holds a Math PhD. from Stanford and is a Wall Street Veteran, working there in the ‘80s and ‘90s. Fred shares his opinions on Bitcoin on his popular X and recently created CZcams channel, and never shies away of a discussion with other investors. I hope you enjoy this episode!
→ Follow Fred on / dotkrueger
→ Fred’s CZcams channel: @bitcoinkrueger
Timestamps 🕑
00:00 - Introduction and Background
03:01 - Challenges of Educating Generational Peers
08:11 - The Power of Self-Custody and Global Transactions
12:08 - Bitcoin's Potential to Revolutionize Money
29:28 - Bitcoin's Growth and the Power Law
31:47 - Exponential Growth and Volatility of Bitcoin
38:20 - High Volatility and Growth for the Next Decade
48:48 - Wall Street's Recognition of Bitcoin
53:07 - The Misunderstanding of Bitcoin in the Financial Industry
56:19 - BlackRock's Investment in Bitcoin
57:39 - Long-Term Vision and Outlook
59:22 - Transition from Trading to Long-Term Investing
01:02:20 - Getting Hands-On in the Bitcoin Ecosystem
01:04:26 - Forming Strong Convictions through Research
01:09:21 - Balancing Asset Allocation and Risk
01:12:14 - Frugality and Value Assessment
01:13:00 - Thinking in Bitcoin and Using Bitcoin Wallets
01:18:03 - The Transparent and Mathematical Nature of Bitcoin - Věda a technologie
Once someone truly understands Bitcoin they realize they can never have enough. There is no second best.
I seem to be always learning...
I understand BTC - it follows NASDAQ
Sooo tell us..what needs the Bitcoin price and block subsidy need to be in 2036 so miners still will be in profit so they can protect the network. If they get paid enough and quit, there will be no more network. The only answer you get is. " It will go up"
Hi Guys, I just turned 77 this year and have two small businesses here in northern Canada. About 75% of my wealth is in Bitcoin. I first started buying about 12 yeqars ago. It has been one hellava educational, interesting and exciting journey.
Amazing! Thanks for sharing
Nice bud. Congrats and way to set the example. I am 59 and I can’t find anyone I know in it and I am putting adult kids into it. It’s a little lonely right now but will keep talking about it
I too have tried so hard to tell my family and friends about this new way and non of my family listened, some friends did but not enough: I feel sorry for them and I am going to be 80 years old in a few months and I am truly grateful and excited to be part of this amazing community. You are never too old to learn new things. I would like to know if there are any other women my age here with us. Hang in there we are in the right place.
@@user-iu6pw1po7x LOVE TO READ THIS
Awesome 🙌
I've been investing since 1986 and I've missed out on Apple Microsoft home Depot Amazon you name it I'm even late to bitcoin but I'm not too late it's math-based and I think that makes it a winner and in the end I think I can be a winner!! Thank you Fred And bram great video.
Thanks for sharing!
Don't forget Nvidia
@@MrBob1984 thanks Bob you're killing me!!lol.
"I think if you approach it as a new method of payment, you miss it. It's a new unit of account." Great explanation by uncle Freddie. Friends know that I know about Bitcoin start asking me my takes on other Crypto's. I try to tell them that other Crypto's are trying to solve other problems. They're not trying to BE money. I get blank stares as their brain hits a 404 error.
I'm 61 and have been in BTC since 2012
Noice
That’s why you look happy and strong 😂
Good man 😮. I'm 63. I discovered it in 2021. Put in more hours than I can calculate to get my head around it. Once I got it and gained a deep conviction, I switched a lifetime of savings and investments into BTC. Like everyone, I wish I was earlier!!! 😂😂😂
What’s your allocation %. ?
I’m 61
Woow love to read this!! 👏👏
15:25 Bitcoin can’t be in “3 wallets at the same time”. One can have 3 copies of their wallet though. The coins are in the same wallet addresses.
Correct
Great interview. Well done both of you!
Thank you Tim!
Thanks Bram!
Thanks Fred!
Thanks for watching Frans!
I remember when Bitcoin was $12, and I thought I had missed the boat... Now I wish I had bought a few coins.
If you change your basis to think of sat’s as coins you’re still early.
great conversation. Fred enriches the bitcoin space very much!
To be clear, I thought the bitcoin is on the blockchain and your seed phrase is on the wallet. Your explanation will cause fear of lost wallet equals lost bitcoin. Am I correct in how I think this works?
I love Fred! Makes me bullish, that still so few people are into bitcoin.
I enjoyed your interview. Great, quality, guest. AYou could sum up the whole hour in the words of Greg Foss: Do the work!! 😂😂
Thanks Mark!
Great show. In a bus driver and now investigating in BTC using Strike direct deposit from my salary
Amazing!
Really powerful insights. Thank you.
Glad it was helpful!
Thank you for the great lesson.
Glad you liked it!
Great interview, Bram. Subscribed, keep it up!
Welcome aboard!
So happy that I apply some of Fred's advices, like trying around wallets, making small transactions, thinking about words storage ...
Great show
Happy you enjoyed it! 🙏🧡
Enjoyed the Interview. Fred is the Ultimate Absent Minded Professor! a Modern day Columbo!
I believe in BTC and the power law and math. I will continue to HODL for at least an additional 10 years..
Could listen to Fred's musings on Bitcoin all day.... 😊
What? you'd listen to a boomer? lol
Great Conversation I enjoyed it thank you for doing it.
I think I need to also go do the Power law rabbit hole deeper.
When you discussed the power law effect in several different aspects of the Bitcoin network (all now happening at once) the penny dropped a lot more.
And pre S curve ! Wow nice.
Thanks once again
Another awesome guest. Excellent questions again mate!! You're doing so well, keep up with the great work, it's really appreciated!! Bitcoin is hope. Cheers
Thanks! Will do!
Fred rocks. 👍
Great discussion, “you know”
Fred is tough to have a conversation with. Great job chugging through this!!
Ty!
My favorite quote is "Maybe you say: Fred, I kind of 10% believe you. Fred: Okay, great. Well, 10% is probably enough." I certainly have a higher conviction that there are serious issues with the US financial system and its future. However, I am not in a position to place a larger bet that Bitcoin is the winner so ~5-10% is where I've been.
Great show, thank you!
Glad you enjoyed it!
Interesting, good to have a older persons perspective, like me.. older
Very good thoughts and interview.... thanks
Happy you enjoyed it!
Great video
Well, done guys!
Ty!
Great interview Bram. Unfortunately Fred interrupted you too much but so many of these guys can’t wait to talk 😂
Fred is interviewed so he needs to talk.
@@p.m.8316 He was being sarcastic
@@homelessmillionaire1 ok
Haha
Wait till you get a load of Yusko... now that is a man who loves the sound of his own voice.
Fred and Yusko are insightful, and Fred is brilliant... so I can live with the long wind.
7:38. Yeah there was. Still are.
♾️/21Ⓜ️
🫡
great interview!
Happy you enjoyed it! 🙏
Great interview! Ty
Glad you enjoyed it Jason!
Max Keiser !!!! No fuller on bitcoiner in my age bracket!! I think it's the visionaries. Not that many of us around. I was waiting for it !!!
Max is coming ;)
This was great. Just try to listen more rather than acknowledge the guests comments mid sentence. Good podcast format
All Bram says in response to Fred is yep. Bram interviews fine. Fred interrupts a bit but hey,none of us are perfect.
Interviewing people would' nt be easy.
Agreed haha - try talking with Fred, it’s hard! But I liked this convo
Most people understand the Power Law about as much as Cardone understands Bitcoin. This thing is WIDELY misunderstood!
Even Livera told me the Power Law isnt useful. I think its the only model that has use.
BTC is a Universal
Power Laws measure these.
You know. You know? You know!
I know
100% agree. There will never be another Bitcion. But just which one of them? Should we buy Bitcoin Cash, Bitcoin Gold, Bitcoin Classic, Bitcoin Diamond
Bitcoin
@@bramk but why. All the rest is the same . All are limited to 21M, so what makes Bitcoin so different from Bitcoin?
The adoption by everyone else. Bitcoin. BTC only.
Subscribing. Want to share a criticism about letting the guest speak more. There was a tendency for you to talk before they finished the thought but I see much potential in your abilities here.
Thank you! Learning as I go :) check out previous episodes too!
I agree with Fred at least 70% BTC 30 % something else because when you need the $ if BTC you have to sell . First if you hold less than a year tax 50% in Australia and the price of BTC maybe not high at the time? You have no choice but sale for the need.
So 30% for something else so you can get access easier without loosing the money.
It will reliably go up and down, because the big money is trading it
like this guy more and more eacxh ime
IT WILL GO UP TILL THE GRID GOES DOWN , THEN WHAT DO U DO?
Carry my shiny rocks around?????
Paul. What do you do when your cable goes out? Cry??
Being 12 and underage the only job I get was working in Satoshi btc mine.
I like Fred interviews. Hes so Bullish.
Good show. As an interviewer, your job is to ask good questions. Stop interrupting your guest and throwing in “funny” comments. Ask good questions and shut up. Pay attention to natural gaps in the conversation with a good question at the ready. Do not insert your opinions or stories. Questions only.
I think I can do whatever I want 😂
@@bramk That is true.
@@jeremyfreetoroamvery but if you want to grow you need to accept feedback.
💯 spoilt the interview today. I kept losing track and interesting points were lost.
Jeremy you are a tool. What interview have you ever accomplished. People like you are the worst
🎯🎯🎯
Fred says we are not living forever , only time is more valuable than bitcoin
Don’t forget to live while focusing too much on bitcoin
Cavemen were surprised when they first discoverd fire. Same thing.
Annoying to think I was almost talked into BTC in 2013 on a visit in Buenos Aires but bought it in 2017 and sold some in 2019. Fortunately I haven't sold any since that date other than a tiny fraction for trading.
Everyone has this! ;) i bought at 200-400, sold it all at 4000. Now I have less than before 😂
What happens to social security?
It dies when the dollar dies - the money need for it does not exist. Check the bottom right number on usdebtclock.org
So what happens at the end of that 10 year time frame. What’s next after that?
Valhalla
you know
I know
why not invest everything you have in the best performing asset?
I know right??
Counted 1,113 “you know” from Fred on this podcast alone
I guess all of the Bitcoins go over 1M before this summer. You can buy any of them and be rich
How come you don’t get the concept of scarcity
Me or Fred?
i don’t see or hear of anyone trying home for goods so that makes gold irrelevant gold need to be exchanged for currency before it can be used to purchase anything
Or you can make your own coins 😂
What happens to it when electricity goes out even for a week? I imagine gold will still be there, but after solar flair and black-out no matter how small potentially all that crypto electronic stuff will be a mess at best or gone forever quite possibly.
You will have different problems 😂
Listening to Fred, he doesn’t sound like he’s 100% sure about Bitcoin. If you Listen to Saylor, you know he’s all in.
12:19 „Bitcoin can be stored just in a wallet…“. That is not right technically. It´s BTC stored in the Bitcoin blockchain and your wallet is the signing device which helds your keys/seed phrase. That is why its so easy to setup a new wallet with the same seed phrase in case… because NO ‚BITCOIN‘ IS ON ANY WALLET. ;)
21:24 is the government going to take care of me?
Fiat, bitcoin and Gold will all be pegged together.
Nah
Energy company's mining bitcoin to mop up stranded energy. That's the aspect of bitcoin that most do not talk about. The tech on top of bitcoin will developed over time. Proof of work and a high value digital money made of energy.
Someone should teach him the difference between an exponential and a polynomial.
I own Bitcoin but the one thing I always worry about is why would the government allow us to have something that gives us financial Independence. Something that goes around the banking system.i don't trust them to let it happen.
.
Perhaps because the govt. knows the existing system is broken beyond repair but they are unable to tell anyone (for obvious reasons).
@@kenb5279 Ken that's a good point and I will definitely give that some thought thank you
That is why this is a fight
That is why you should self custody.
Bitcoin is the governments soft introduction to CBDC. Once enough people have accepted the idea of digital currency then the government will replace your bitcoin dollar for dollar with CBDC. Then the government will have absolute control over your life.
Long term debt cycle frauds need somewhere to run
BTC bounced back from low to this high this year, Eth is bouncing back to but not the same rate . So is Sol so far
U know....U know...U know.....U know......
U know....U know...U know.....U know......
U know....U know...U know.....U know......
U know....U know...U know.....U know......
U know....U know...U know.....U know......
What are they talking about????
I don’t know where they are going with this but nothing goes up forever.
Fiat will go down forever though ;)
@@bramk yes I agree, however bitcoin is heavily influenced by the fiat price of electricity also. If technology advances to ultra cheep energy, the cause to miners will go way down and the market will fall relative to the decrease.
There are other factors besides demand remember that.
DON'T forget ETC it will be # 2 most Valuable POW With Smart contracts , actually should have much more value as its smart contracts are inside of ETC....
Lol
@@bramk MARK OF THE BEAST COIN IS BTC , IS THAT CORRECT ,MARK OF THE BEAST SYSTEM IS SOON..
Gold bugs are the worst.
They will learn
If you think that Bitcoin is a peer to peer electronic cash system, you are missing what it is.
Some of the interviewers's interventions are interesting. He just needs to suppress the parasite words like : yep, ya, hum. ....
Learning as I go :)
Nightmare on Wall Street™
😂 😂 😂
I vink 😂
I vink 🔝
I vink its tough
Haha it is!
It makes no sense to write information from the real world to a blockchain.
Agreed
"Something super safe, like a bank account" fred always reverts to a phase of Stockholm syndrome to the fiat system. He knows banks are ponzi systems but refers to them as safe.
Haha true - let’s give him a break :)
wen moon wen lambo
Sooon
The shitcoining was cringe. Hes great at subtly peppering it in the conversation with legitimate bitcoin use cases.
Agree, he has a different view than me but I did not want to get into arguing etc
Bitcoin has problem in many countries because banks do not accept bitcoins.
You don’t need banks
Don’t be id10t 😂😂😂😂
Yeah well it's dumped again now!!
Sell it all
Love the show but couldn’t finish this one. Fred Krueger is the most annoying person in bitcoin imo. I get theres a lag over zoom but every time I hear him talk over someone it’s unbearable
Any Nightmare on Elm St fans here trying not say something stupid?
They did already haha
Focus on letting your guest talk until they're done.
Thanks for the feedback
I like how Bram keeps it interactive. I didn’t get the impression that this resulted in Fred losing his train of thought
Yeah, I had this same thought. It's jarring for the audience. My unsolicited advice is to remember that it's an interview, not a conversation.
Actually it is a conversation based on my personal interests that I share with whoever wants to listen to it ;) I am not an interviewer
@@bramk Ok, well you've put it in an interview format, so surely you can see how people would come to it with the expectations of an interview.
Raoul Pal vibes. Lot a right points, but missing the overall picture. Too focused on price. Not really interesting because we all know the price will go up. Old news.
I agree with the classic look but at least Fred is open to learn more. And he is a Maxi in that sense.
But great channel ! I subscribed
The name “Bitcoin” is a drawback to a lot of folks. It sounds like it’s play money. It doesn’t sound serious. It sounds like a gaming token. It has a casino ring to it.
All emotional
People are so dumb. Do you want a SOV that goes up in value or stays the same. If you want a SOV, buy GOLD. Buy REAL ESTATE. I prefer to own somethng that goes up in value compared to those things.
Sure bro. When it was $450 8 years ago where you saying that too. 150x to $65k. Less than 1 percent of people utilizing. What happens when 10 percent utilize. Damn I love dumb people like you. I take all your money
I’m big into BTC, but the guest is overly optimistic, bordering on fantasy, and reckless.
Fred, bro you freaking talk to much. Shut up and listen to the other person. At least let them finish a dang sentence man.
He is enthusiastic ;)
What fool really believes that Bitcoin will go up for ever???? This is so lame an idea.
It is because human productivity will go up forever
Host, please stop shoving your one liner reactions to everything; you’re cutting off like every other thought this man has, and I’m not here to watch a reaction video.
My name is Bram ;)
Kruger is a scammer! Do your homework and don't give a platform in this space!
Stop interrupting!!!!
Exactly! I noticed the same thing. When he improves his interview skills and is able to LISTEN, then I might subscribe
See you then!
Yeah see you guys then!! Geez, bloomen' heck, whats going on these days, just geez. Geez geez geez. Bloomen' heck guys.
BTC is going to get displaced by BCH. But in the end, it doesn't really matter. Just swap some or all of your massive bags over and you're good again. Much like BTC in the old days, the earlier you get into it, the more you will be rewarded.
You're halirious mate!! Funny as fark actually!!
Lmfao😊
LOL!
Ha ha ha
Made my day - thanks for the smile
Wow, u fking suprise me with this question in 34 min, very good question, gratz
Ty