Interview with Clif High on the Crypt0 Minute Youtube ChannelsteemCreated with Sketch.

in #bitcoin6 years ago

Interview with Clif High on the Crypt0 Minute Youtube Channel

This is a very informative session with Clif, where he goes into a lot of detail from his last report, on 2018 forecasts and beyond. Well worth the listen, but here is the summary.

2018 Timeline

This, to me, was the most important piece of information from the whole report.

Clif is forecasting a takeoff between Feb 15 and the 29, upwards through March and April with a couple of small drops, a big push into May with a pullback/consolidation through July or so, but not necessarily a giant drop.

Appreciation levels should be commensurate with 2017. There's a lot of language about the crypto space flattening out, so a lot of people will not move into Bitcoin but will move into the alts.

Very significant changes are coming. Time to get educated so as not to get swindled (e.g. USI Tech, Bitconnect, and other scams and Ponzi schemes).

The most disadvantaged areas (especially areas that are tied to the dollar) will suffer first, and we may see some violent revolutions there.

We are on the same kind of path that hit Weimar, Germany back in the 20s. Clif expects everyday goods prices to rise, but not necessarily hit a Brazil or Argentina type hyperinflation (here in the US).

Sovereign Coins

Clif's datasets have said, since 2008, that there would be 3 attempts at creating a government-issues crypto currency, but that the first 2 attempts would tank, and the third one would limp along.

Back in the day, we heard talk about the SDR, but since cryptos have become so popular, the SDR seems to have fallen off the radar/talking points.

Singapore has implemented their sovereign coin, and, per Clif, they have done a good job. Other countries are going to be looking on to copycat.

Keep in mind, that a government-issued crypto is the exact same thing as fiat, except that there's the blockchain/open ledger aspect which might expose the dirty deeds of some politicians, but since it is not decentralized, it can be hacked, and it is controlled by a single authority, which can inflate/deflate at any time, so, in essence, they are not true cryptos... decentralized, peer-to-peer, exchange systems. If you have a middleman, it is not decentralized.

Also, keep in mind that governments are reactive, and very slow. Definitely stay away from "Fedcoins."

Box Mining

Clif is forecasting that there will be a big explosion in Box Mining, which is the use of computer graphics cards (like the ones you use for gaming) to mine cryptos. Recently, Nvidia has complained about people's use of their cards for mining.

This will always be around. For the next 20 years, we are going to be shedding parts of the old system. This will be a very profitable business kind of a thing that people will do "in their bathtubs" (like homebrew liquor during prohibition). We may also see prohibition of mining, like has already happened in Venezuela, which will only increase the value/desire.

Stock Market

The stock market will continue to rise, as it has been, but people will become more and more aware of the rigging/corruption that goes on in the markets.

Clif believes there's a slow leak in the Stock Market, and the IPO will go down and people will jump over to ICOs instead. This is a big market for Banks, who garner 60% of monies raised (through an IPO), and you are mandated by government to use.

Precious Metals

Clif has markers but no timing. The markers relate to transition of Silver to be a highly sought after industrial metal. This is going to be as a result of government dictate. They decide that Silver is a strategic metal that can't be sold outside of its borders. At that point, Silver will break out (and go into actual discovery). Mexico will be doing well, and a lot of its Silver will end up in Russia.

Clif also explains that Gold is also not as rare as people believe. Buckminster Fuller was of the same opinion back in the day. Clif goes into some examples from history.

We saw recently that Deutsche Bank and a couple others got a slap on the wrist for rigging the precious metals market. A ridiculous slap given the profits they made.

Real Estate

Clif expects Real Estate to continue rising because we are in the hyperinflationary period. So long as they can continue to print money to keep that market rising, they'll do it.

Historically, there's a whole lot of spending that would come along with the purchase of a house... furniture, baby products, etc.

But the millennial generation doesn't think like that, and are not having as many babies, or even getting married (for economic and social reasons).

With that said, so long as the regional banking system is intact, the prices should continue to increase. The Fed will be supporting

Clif does expect a correction, but it should be in pockets. It will depend where you are. Like a hunk of Swiss cheese.

In 2021, 2022 it will be a better time to buy housing as we should see some prices come down.

The datasets see a turning to crypto space by the Federal Government within 2018, with the intent of getting the efficiencies of the blockchain into existing operations. This will be partially due to a big economic issue, which might be the Fed's inability to create debt as fast as in the past. If that happens, we'll see something like a crash which would affect real estate and equities.

Basic goods like bread and gasoline will continue to hyper-inflate throughout 2018. Time to start saving more and cutting your budget. Put your savings into cryptos.

Per the datasets, Smart Contracts are going to be a way in which the government sheds some of its responsibilities (cryptos replacing government functions).

This is a temporal marker in which, perhaps around June, cryptos relating to that (e.g. PROPY) will jump up. Do your due diligence and invest in related cryptos for a big jump.

Pillar, Veritaseum, Populous, Pillar

Clif is very bullish on Pillar. When the Pillar wallet comes out, it will have a spike that will make it a very serious competitor to Ethereum in both daily price and market cap.

Pillar is in the datasets as being very well timed. It should make cryptos accessible to the 13% of Early Adopters, and increase rate of adoption.

Veritaseum, per Clif's datasets, will be sought after by governments to replace/improve some of their functions.

Populous is looking to take on the 28% of the Banker's business which is invoice factoring (small term loans on invoices). Banks will complain and say its fraud, etc. but no one will be sad to see them go. Right now, only big investors can "buy invoices for profit." Populous (and Paypie) are putting invoice factoring, as an investment, at the fingertips of every person... peer to peer. Bypassing the middleman.

Rate of adoption

We are probably at a 4% adoption rate worldwide. The next chunk is the 13% of the population called the Early Adopters, which will start coming on board this year.

Greed and Fear dominate the markets. Lack of education, fueled by greed leads to disaster (like BitConnect).

Get educated! Avoid scams and Ponzis. Don't click links from people you don't know or trust.

Bitcoin vs Other Cryptos

Clif believes Bitcoin will continue to hold its status, and eventually be used by countries to settle their debts.

Bitcoin has very little in the way of attack surfaces. And there's the emotional attachment to Bitcoin (like previous generations were attached to Gold and Silver).

With that said, Clif believes Bitcoin will be pushed up by the other alts.

For big transactions, there's no other cryptos that's good enough. Things such as sovereign debt, etc. can't be settled in the small market caps of the alt coins.

Also, Bitcoin is coming out with smart contracts, which will keep it viable.

Max Keiser predicts that once Bitcoin hits $100k USD, people will start spending Bitcoin (especially government representatives), and that will spread Bitcoin more throughout the economy. Clif agrees.

Next report will be due out in March due to Clif's work load.

You can watch the full interview here:

Good fortune to you, and as always, thank you for sharing your Light with me.

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