Highlights

Goldseek is honored to welcome Erik Voorhees, a key founder of the crypto-revolution on his show debut. Erik is CEO of the instant Bitcoin and altcoin exchange, ShapeShift.io, a groundbreaking coin / token service that facilitates quick and virtually free exchange of nearly any cryptocurrency. For instance, a Bitcoin holder who wishes to convert BTC for Litecoin or any other currency, can do so online without the hassle or invasiveness of setting up a personal / business account. ShapeShift.io does not hold the clients coins, but merely purchases their coins and sells the altcoin of their choice from the existing ShapeShift.io inventory, simplifying the process significantly. The ease and relative anonymity of ShapeShift.io are the most appealing aspects of this service and the brainchild of the forward-thinking CEO, Erik Voorhees. Our guest was a key consultant on the Denver based, SALT lending platform, a crowdunded, blockchain-backed lending service that facilitates borrowing against cryptocurrencies such as Bitcoin without realizing enormous capital gains. SALT deploys a unique, dynamic margin-algorithm that vastly reduces the likelihood of a margin call given the higher than typical volatility of the underlying asset markets. By using crypto assets as collateral, SALT sidesteps the need for a credit score as well as draconian regulatory issues / hurdles, returning value and anonymity to the participants while eliminating the inefficiency of the typical middleman. Erik Voorhee's prime directive involves replacing outdated fiat money with sound cryptocurrency, returning wealth to the rightful owners, "We the people..." to the benefit of the global economy and humankind (figure 1.1.). The discussion includes the 20 fold ascent of Bitcoin in 2017 and the subsequent micro-bubble in altcoins; our guest notes 4 such bubbles have passed and he expects more to unfold as Bitcoin / altcoins dethrone fiat currencies as sound money. The dialogue turns to the much-anticipated Bitcoin forecast of top Silicon Valley venture-capitalist and crypto-pioneer, Tim Draper. Mr. Draper expects Bitcoin to increase by 30 fold from current levels en route to $250,000 by 2020. Although a lofty, speculative target, Tim Draper was one of the few to anticipate $10,000 Bitcoin, when the price was merely $500 per coin. In recent interviews Mr. Draper outlined huge disruptive opportunities to improve overcall efficiency / productivity in healthcare and government, noting his VC firm is targeting those two areas, specifically (figure 1.2.). Erik Voorhees cautions investors to first do considerable due diligence before entering the world of cryptocurrencies - the speculative nature of the sector increases risk beyond the tolerances of typical comfort levels; it is advisable to assume the investment is vulnerable to declining to zero and maintain a healthy dose of skepticism - the host shares his sentiments.