Interview · moment 2 of 21
El Salvador Adopts Bitcoin and Jake's Crypto Origin Story
from #255 - Bitcoin Winklevoss Jake Paul | The Tim Dillon Show · #255
6 min
Guest
The group discusses El Salvador accepting Bitcoin as currency, Tim needles them about Tesla not accepting it, and Jake Paul recounts buying Bitcoin at 16 with landscaping money, plus talk of his brother Logan fighting Floyd Mayweather.
- If you don't own bitcoin in El Salvador, they're going to kill you.
- El Salvador is accepting bitcoin as currency, but Tesla is not.
- Jake bought his first bitcoin eight years ago when he was 16 for a hundred dollars, using landscaping and Vine earnings.
- Jake's career trajectory from Vine to YouTube to Disney Channel to rapping to boxing.
- Jake is more nervous watching his brother Logan fight Floyd Mayweather than fighting himself.
- Bitcoin's fixed supply makes it the ultimate store of value with first-mover advantage over other cryptocurrencies.
- Tim compares Bitcoin's weakness to the claim that O.J. Simpson is innocent.
- Bitcoin gains value quicker and more often than not, making losses a buying opportunity.
- Bitcoin could reach 500,000 per coin within a decade if it disrupts gold's 10 trillion dollar market cap.
- Bitcoin is better at being gold than gold because its supply is fixed, while gold's supply keeps increasing.
- With gold's market cap at 10 trillion and bitcoin at 1 trillion, disruption math points to 500,000 per bitcoin.