Crypto billionaire Volodymyr Nosov gave a long interview to Dmitry Gordon, where he talked about the formation of his business, the future of the cryptocurrency market, and Bitcoin for $3 million. We are publishing the main theses.
Crypto billionaire Volodymyr Nosov gave a long interview to Dmitry Gordon, where he talked about the formation of his business, the future of the cryptocurrency market, and Bitcoin for $3 million. We are publishing the main theses.
I was sitting in a company of friends. And I heard a dialogue about mining. I sat for 30 minutes — and during those 30 minutes I became more and more outclassed. Because I realized that I didn’t understand anything, not a single word. Some mining, some farms, but these weren’t the farms that were in the fields, but the farms with video cards. Hashrates, blockchains, blocks, bitcoin, a reward that can then be sold on the exchange, etc., etc. And I listened to all of it. I have a very inquisitive mind, and if I don’t understand something, I sit down and figure it out.
I came home and started to figure out what it all meant. But even if you start to figure it out, the entire text consists of terms that you don’t know. And you had to take each term apart and then turn it into something understandable. Now, of course, there is at least a basis, you can get to know this story better. Back then, there wasn’t. And I started to study it on my own. The guys I talked to didn’t understand it either. They just discussed it.
At some point, I realized the essence of what was happening. To begin with, I tried to set up a full-fledged node. To make myself a «cold wallet» on which I could store bitcoin. I fiddled around for a few days, realized that I couldn’t do anything, and started looking for other ways to buy. And I started finding services that offered to sell bitcoin. These were various exchangers. But to buy it, you need to accept it somewhere. And if I couldn’t make myself a wallet, then I needed another option. I found this option: these platforms called themselves exchanges. I started registering on these platforms. And when I started registering and actually using them, my entrepreneurial spirit woke up. I started to notice: here I was uncomfortable, here it was too boring, here it could be redone. Then you get to the trading terminal, and it’s a hellish machine in general. Everything jumps from all sides, some incomprehensible things — in general, it’s complicated.
The first cryptocurrency was Ripple. How much did I buy it for? I won’t lie — I don’t remember. I bought my first bitcoins when they were worth up to $1,000.
I made my main purchases when our business was already up and running, when things were a little freer. About 3,000, I probably bought about 100 coins. Then there was a $20,000 increase, global madness, and then a decline. Three years of bear market after that.
I didn’t believe in cryptocurrencies — I believed in blockchain technology and Bitcoin.
The beauty of Bitcoin is that every user is their own bank. No government in the world, no company, no one in the world can arrest them, stop a transaction, stop a transaction on the network, revoke it.
The entire financial structure of the world is very outdated, and everything that is located around the financial structure has moved forward significantly. We have new opportunities for communication, technology, gadgets, high-speed flights. The whole world has flown forward, and the banks are left with the same banknotes, unsecured by anything.
They have no limited emission. They are absolutely shamelessly, breaking away from the standards that they were once provided with, that they should have been provided with, and are sailing on their own. They are exposed to a huge number of risks. And the most important thing is unlimited emission.
Bitcoin is a digital coin, digital money that is paid as a reward to participants who support the existence of a decentralized protocol.
The audit has been going on for 15 years of Bitcoin’s existence, but the whole world is doing this audit. Because the whole world is motivated to find vulnerabilities or problems in the code. We have 15 years of global auditing. Not from some big four, where a group of people came, two of them hungover, and tried to evaluate a company or some product. And we have a completely specific audit, when the whole world is involved, and billions of dollars are at stake.
At one point it was billions. Now it’s almost $2 trillion. And in fact, Bitcoin, in terms of capitalization, has surpassed the British pound.
Plenty. For any person who respects technology, there should be at least 2625 bitcoins. That’s our corporate joke. I won’t go into detail. I definitely have 2625. I can tell you that with confidence.
I don’t know a single person who, buying Bitcoin, conditionally, for $3,000, held it at least until $20,000. Not because they all hid, but I just don’t know any of them (laughs).
Bitcoin can bring an element of stabilization to this world order. And it needs to be brought in. Because at some point the economic model that works today will simply destroy the world. Bitcoin can make certain adjustments, will lead the world in the right direction. Today the economic model is destructive.
$500,000 is the limit. I’m aiming for $3 million per bitcoin.
Trump’s arrival will open up a lot of opportunities in expanding the audience that will interact with this type of asset. Today, the average penetration of technology in the world is no more than 15%. If we take the economic part, where users who use cryptocurrencies in one way or another buy, invest or hold them as a long-term investment, it is probably up to 7%. In our industry, this is called mass adoption. This is what market leaders strive for: to make as many products and convenient entry points as possible for an audience that has not yet interacted with these types of assets. And Trump’s arrival is a huge step towards the industry in the United States.
It’s never too late. If we’re talking about $3 million horizons, is $100,000 expensive? There are a limited number of Bitcoins. As we told you earlier, they have a limited emission and there will only be 21 million of them. Almost 20 million Bitcoins have already been mined. There are 1 million left. According to the mathematical model, the last Bitcoins will be mined by 2140. Yes. But very few of them will be mined. The main profit of the producers, as we have designated them…
Today, out of 20 million bitcoins, I think at least 5 million bitcoins have been irretrievably lost… In the initial stages, someone mined them, they were worth $1 at the time.
