Less than two years after it had been trading under $1, Bitcoin surged to more than $100 in the spring of 2013. CNBC's panel discussed the risks and benefits of the cryptocurrency, its comparisons to gold, and whether or not the run up was a bubble.
Ten years ago, as Lehman Brothers was declaring bankruptcy and the global economy was lurching into recession, the idea for an alternative currency was being quietly built online.
On Oct. 31, 2008, bitcoin was born — and in the past 10 years it has evolved from an anti-establishment hobby among coders to a household name on Wall Street.
The first and most famous digital currency sparked mania among retail investors last year, and, despite being founded to bypass them, it has caught the attention of some of the world's most powerful institutions.
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When Bitcoin Hit $100: CNBC's 2013 Coverage
21 milion BTC and this guys say its not rare? Hahahahah
Jason (2 months ago)
They all sound clueless. The guy in the middle does a poor job of defending Bitcoin. The guy on the right sounds like Jamie Dimon prior to "we're opening a trading desk" 😂
Daily News (2 months ago)
You can't easily move gold or protect it. He didn't really understand bitcoin.
Derek Mcrae (2 months ago)
Is there a video of them fudding it when it fell from 1k to $200
damnright4 (2 months ago)
Love how at the end of this the guy with the hat politely tells the gold guy he dosent know what hes talking about...
Def Qon (2 months ago)
xaxa :D its like onion news.
thats why we need fake news engine these days
BloodOnMars (2 months ago)
BTC will go back to 20k, but first we need to bounce off 100$ again. 😄
D 1080 (2 months ago)
Picture the guy with cocaine all over his face saying, "got any more of them $100 Bitcoin?"😅
Dre Day (2 months ago)
Wow only $100.
james a (2 months ago)
First heard about it in 2010 and thought it could be great. Didnt invest til 2015. Should have trusted my gut.
The Doctornaut (2 months ago)
Rhvn ym (2 months ago)
What about ethrum
Dun Dun (2 months ago)
The guy on the right predicted Bitcoin Cash when he talked about counterfeit Bitcoins, maybe he’s not as dumb as I first thought
keaneY (2 months ago)
the anchor didn't even know what bitcoin is but kept challenging the guest, that was fun to see he was wrong, and i hope that he realized that how wrong he was at that time
F your S coin (2 months ago)
and today bitcoin is still holding up over 34x from this video 5 short years ago. And more secure and robust.
CryptoSuperPowers (2 months ago)
LETS GO BOYS
nik blo (2 months ago)
bitcoin not rare? :D :D
ToOldToSkate (2 months ago)
one of those guys has retired.....can you guess which one?
Zt Cedric (2 months ago)
lol this gold bug, if he only had knew
Sebastian Velandia (2 months ago)
The guy on the right probably bought Bitcoin Cash at the top LOL
Jeff Atkins (2 months ago)
When educated idiots make comments based on assumtions and do so with confidence they appear credible at first blush.... but this guys claims about the problems facing bitcoin is so apparent to anyone with a modicum of education on the topic... Dont let your ego/arrogance prevent you from becoming educated on the topic.
indiekiduk (2 months ago)
wow that was intense
e. g. g. (2 months ago)
Would of loved to find out about btc when it was a 100
The Moon (2 months ago)
Bitcoin to The Moon! 🌙
Levio100 (2 months ago)
Why would people buy lousy Bitcoin when they can buy GOLD? Shiny, precious GOLD!
Even the Incans used gold! Do you doubt the INCANS!?
SincerelyWilliam (2 months ago)
The guy on the right is a dinosaur. I bet he felt stupid when it hit 20k and now that Nasdaq is entering crypto in 2019, I bet he feels even more stupid lol
Raypooh (2 months ago)
Wish I had got into it when it was $100 😭😭😭😭😭.
Coinmarket SWOT (2 months ago)
these reporters dropped my IQ by a 100, I start thinking about counterfeiting Bitcoin too. Let me startup my spreadsheet.
Michael Perez (2 months ago)
I didn’t invest in bitcoin back then because I listened to guys like the dumb one on the right
Dean Jones (2 months ago)
4:06 it could be wiped out by Nano confirmed!
Jordan Shackelford (2 months ago)
Well he was right about the counterfeit... bitcoin cash
Digibyte Awareness Team (2 months ago)
Bitcoin tried to recreate a wheel and came up with a flat tire. Lmao.
louisaparker (2 months ago)
I think the guy who spoke about counterfeit bitcoin, meant an alternative cryptocurrency. And there have been a lot of those.
AnarchoSkycoin (2 months ago)
Tiberiu D (2 months ago)
the drug dealers using bitcoin .... LOL Drug dealers use US dollars too r
Daniel Bonaire (2 months ago)
Ya..Cuz Pablo Escobar, Al Capone & El Chapo never used US Dollars to perform criminal transactions!!! The "criminals" aren't the real criminals...It's the owners of Banks and Wall St who are the real criminals!
Prasino Fasoulaki (2 months ago)
Gold & Silver is Money... If you don’t physically hold it, you don’t own it..... A blip on a screen is not money.....
will3890 (2 months ago)
I like how the guy saying it's a flat tire and then proceeds to list what makes something money, but actually lists everything bitcoin is lmao.
will3890 (2 months ago)
He sounds like those people when e-mail first came out and they were trying to explain it, but didn't quite understand it themselves.
Travis McCarty (2 months ago)
counterfeit Bitcoin lmao
VinnyGamingYT (2 months ago)
It's pretty funny to see how CNBC is just as clueless in 2018
IOCsignals (2 months ago)
I don't know that work in american banks but in europe you creat Fiat when u make a credit in your bank they give you money for free and how much you ask , so for bitcoin you need proof of work. dosent look to bad and the people can mine it not only bank. Now you can transfert btc over the counter and in to . when you want transfert your fiat you paye the bank and the process . i think we have avantage to use bitcoin and make money with that why we will dont use it , 1 currency for everycountry in the world
Oliver Li (2 months ago)
hahaha!! luckily, this pattern before deep pockets buying never dies, big guys like Jamie Dimon and Warren Buffet inherit it... we should have a Kaggle competition about this to break this world's uneven wealth distribution LOL
Crypto Vision (2 months ago)
Rumours say the guy on the right just bought a physical Bitcoin on Ebay from a guy in India
The superflexible flying Taoist (2 months ago)
cant you just copy the algo of bitcoin and make another run?
The Punisher (2 months ago)
Even the pro bitcoin guy was not fully informed back then. I hope he bought a lot back then and held it ahahah
yves kone (2 months ago)
I ve found to way to predict bitcoin prices but i don t know how to make money by monetizing this technic
any advices will be very appreciated
Rusty Debier (2 months ago)
Tip Top (2 months ago)
Depressing to watch... wish I bought.. Heard all about it back towards my senior year of high school but didn't care enough to look into it.. knew about it from scrolling through the silk road.. just didn't see the point of it.
harry van wijk (3 months ago)
Ridvan Albay (3 months ago)
The face he makes from 2:52 onwards after those 2 questions.
HDFX (3 months ago)
Dow @ 14k lol if they only knew what was to come
Miguelon (3 months ago)
Gosh, my brother had the chance when it was like 9 bucks... 😪😫😒😒... I wish I could go back in time and throw in 5k
Dam I wish I invested in bitcoin instead of the stock market in 2013
tomson85 (3 months ago)
5k invested when these news were actual was worth 1 000 000 $ in december 2017 :)
Tobias Nygård (3 months ago)
5 years later gold is down 25% and bitcoin is up 6000%
Daniel Cardenas (3 months ago)
You mean alt coins. Lol or bcash
ali raza rizvi (3 months ago)
lol stupid counterfiet bitcoin XD
Henry Grand (3 months ago)
Lolocaust (3 months ago)
hey /biz/ <3
Blockchain-tv (3 months ago)
I love how he simply smiles at ignorance lol
Tony smith (3 months ago)
Love Micheal but this is an example of why you shouldn't talk about things you dont know about? Very embarrassing.
Tucker (3 months ago)
They always go with the "drug dealer" angle, but never explain how "Billions" of fiat currency is laundered through banks every day in connection with the drug market, it basically boils down to the people who control the money do not want anything that could disrupt their iron clad hold on everything
QUEENS_RACES (3 months ago)
That guy with the hat is laughing rn!!!!!and he probably got like 9k btc at like 3cents a peace lol
Nathaniel King (3 months ago)
Counter fit bitcoin? Sure the guy in hat probably didn’t know, but one you can’t double spend so it wouldn’t even be possible to spend what you don’t have
Supreme Bitcoin (3 months ago)
Tron is heading to the MOON! Make sure to checkout Tron FOMO on Hitdapps if you haven't yet! @t
Young Jizzle (3 months ago)
haha the hater on the right is burning now 5 years later and we just getting started...
Miles B (3 months ago)
i remember seeing this vid when it first came out.. lol
sirus312 (3 months ago)
dat counterfeit comment though...lmaoooo where is he today? guy with the hat was a time traveler.
7invi (3 months ago)
It will crash, if someone use quantum computer to mine/hack bitcoin in coming future ? and the rumor founder hold more than 980,000 bitcoins, that is ridiculous rich..
Sensenwerk (2 months ago)
Oh you heard rumors. Great keep basing your decisions on those. lmao
Okay, to be not distructive here, watch Andreas Antonopoulos and get eductated. Best thing you can do, even better than buying Bitcoin.
Maxwell Garcia (3 months ago)
Counterfeit Bitcoin = Bitcoin Cash 💰
Brad Poklasny (3 months ago)
The guy with the hat is probably a billionaire now, and the guy on the right is bagging groceries cause he has no idea what he's talking about.
ErkaYT (3 months ago)
5 years later bitcoin stands for a price of 6,500$ just imagine what will happen 5 years from now.Bitcoin is the future.
Frankie (3 months ago)
I just remembered why I didnt buy btc back in 2013. Cause nobody couldnt f%=# explain what it really was, even these knuckleheads.
Mind ya beez kneez (3 months ago)
Never listen to dumb u educated pundits. Internet shinterney." Why would I wana send an email? I have a telephone"?
mixterz (3 months ago)
the whole point of this is it cant be copied or duplicated and the blockchain shows this.
whatsupbudbud (3 months ago)
I actually remember having mined some bitcoin on my computer a long time ago, but it's all lost. Lesson learned - have to listen to your gut!
Patel Crypto (3 months ago)
BTC is future and currency for millenials
JM G (3 months ago)
Now CNBC, can you repeat this interview again with these same people? I want to hear that troll-looking man's argument. Lol!
Jose Guevara (3 months ago)
+1Peasant This is hella funny!!
1Peasant (3 months ago)
They picked that High Elf straight out of the Oblivion character creator
Ahmed Zayed (3 months ago)
The Way David move his brows 😂😂😂😂
2:52 Dude this Reporter is totally ignorant !😂😂😂
dj alanine (3 months ago)
Ahmed Zayed for real they couldn’t understand that you can’t counterfeit crypto
Wonderboy (3 months ago)
Who is the kid with the hat? Man he is probably so wealthy today.
Hosam (2 months ago)
not necessary ,maybe he sold his btc around 200$ we never know,, I know some people bought in 2017 at 1800$ then sold at 5000$ thinking that was the top
LEMBAR INFO Inc. (3 months ago)
The guys with the hat knows what he s talking about but he didnt have chance to explain and no-one would understand it at that time.
Who is he?
zackwong100 (3 months ago)
how sad for these people that knew about bitcoin back than but never bought it
ENCRYPT3DBR0K3R (3 months ago)
guys, the CRASH IS COMING. PREPARE FOR THE 11TH OF NOVEMBER! - remember remember the 11TH OF NOVEMBER!!!! #ENDTHEFED
Mike Carthy (3 months ago)
So what happened on 11th November?
Jonathan Thomas (3 months ago)
This is awesome. Can't wait to see another one of these "time capsules" in 10 years...
mugenjin205 (3 months ago)
These guys have no clue what proof of work means, completely misjudged BTC
scretching08 (3 months ago)
Michael Pento is an expert he's a smart man. Do you think China is stupid buying billions of dollar of gold? Bitcoin is not backed by anything neither is a fiat currency e.g., the dollar, well it's backed by oil and the US military. Gold is the oldest known geopolitical and economic hedge, but the future is blockchain.
Jeel Patel (3 months ago)
How naive, or should I say ill-informed the hosts were on the topic they were doing the show on. And to top that, CNBC is uploading this video for what? To glorify the ignorance of their own hosts? It started as being funny, but went up to a point where I cringed when the hosts gave their bottom judgement and let the "expert" speak like 10% of the time. Not graceful. smh.
epicpurevids (3 months ago)
Everyone is a genius with hindsight...
epicpurevids (3 months ago)
I mean to be fair, it was 2013. Time/knowledge is moving at exponential levels just on a year to year basis at this point in human history so I can completely understand why the hosts had such a hard time wrapping their mind around the idea of something as complex as bitcoin. That's why most people didn't buy bitcoin back then... almost nobody understood it or the technology around it.
Angel M (3 months ago)
Counterfeit bitcoin?? Lol silly dinosaur
thepalmify (3 months ago)
big investors bought for 1 bil. bitcoin the last 4 weeks.
via otc, so the price did not go up.
bye bye haters....
thank me later.
cryptowho me (3 months ago)
Who let this monkey on national tv🤡?
David Pant (3 months ago)
Michael Pento (the ignorant one on the right) He is the president of Pento lmao! Lots of talk with tons of confidence on a subject he understands none of.
Jason (2 months ago)
"Lots of talk with tons of confidence on a subject he understands none of."
Just as well, the guy in the middle
Bender Veloso C.R.F (3 months ago)
I wish I could get back to 2013 and buy a lot of bitcoins!
Chris R (3 months ago)
you wouldnt have and you would have sold it all early
Kenji Gunawan (3 months ago)
That guy who wears a yellow suit should probably read Bitcoin's introduction paper.
Adrian Segura (3 months ago)
Remember when it hit 20k 😂😂
JoeSkutnik (3 months ago)
JASON M but you’re not supposed to buy while on the way up. If you bought then look at how long you’d be waiting to cash out. Or look at how little the profit would be in comparison to if you bought when it was $100 and you sold at 20k. Please don’t buy high.
JASON M (3 months ago)
Yeah I remember two months of the news pumping the price up.I wish I had some money to invest because that hype I new was gurantee money.
How T (3 months ago)
dozens of places accept it ! 😅🤣
How T (3 months ago)
"the bitcoin" 😎
The Bird of Hermes (3 months ago)
Holly ignorance. These guys know nothing about blockchain. Hahahhaha.