Pivot is the free #PVT Coin earning app
[Videogame music]
[music throughout, no speech]
Đăng ký:
Đăng Nhận xét (Atom)
-------------------------------------------
HOW MUCH DOES GYNECOMASTIA SURGERY COST? - Duration: 7:27.
all right guys so thank you for watching this video if you guys have not already
or you guys don't know me already let me reintroduce myself um cool
I'm Jeff Jeff kidding is not really my real name that's just the name of this
channel but be sure to LIKE and subscribe because I am gonna make videos
that's gonna help you to lose your manboobs those puppies in some cases you
guys have little puppies whether stated a chihuahua or you have Great Danes you
know I'm saying I'm double date anyways I'm gonna help you guys to lose those
puppies I don't know why I'm saying puppies a lot so I remember when I first
started to get really insecure about my man boobs and it starts to hit the gym I
would wish every day that my man boobs would just disappear
I would eat or go on a diet and I just hope that my man boobs will disappear I
go to sleep and I'd pray and I'll just hope that my man boobs would disappear
yeah it didn't just disappear overnight and all that kind of stuff but it was an
obsession alright and I know how you guys feel I
know that obsession that anxiety that fear of having man boobs that
embarrassment of having man boobs as a matter of fact watch this story or it's
here or here I always do this I'm not sure where it is it's always it's here
yeah right over here watch this video that's the story of my mom who's how it
was like having man boobs and I'm 100% sure that you guys could relate to it
this video is just my rant and if you should or should not get surgery on your
man boobs if you should get it surgically removed if you just get a
knife and chop it off yourself or if you should just stick it out and continue
with the game plan of working out and changing your body
composition to make the appearance of manboobs lessen or disappear completely
I remember when I was very insecure about my boobs I would research guys I'd
research up the yin-yang how to get rid of it and one of the options were to
just get surgery or to wait for it to disappear they said it's a hormonal
thing and I was looking it up as a matter of fact let me look it up right
now of the computer price on man-boob Granick I'm a steel guy it says here the
average cost of gynecomastia surgery is three thousand six
41 according to 2017 statistics for the American Society of Plastic Surgeons
only 3000 so it looks like the price has changed like years ago like five years
ago six seven eight years ago it was like in the eight grand mark I think
like five grand a grand not only averaged around 3,000
give or take a few thousands um that's kind of a good deal I think if if it's
gonna help with your self-confidence the way of yourself you're I think all in
all it's just if it's gonna affect your self-confidence
with the income that I have now and the insecurities that I had back then back
then I would have got the surgery done me right now I'm more comfortable in my
own skin to where I don't even care if I have a little man boobs or knots um who
knows but probably the insecurities will just strike back at me like a phantom
it's probably the wrong example so before you even consider getting this
surgery done my huge suggestion all right take this to heart guys is to
first do everything you can to avoid getting surgery you're gonna save a lot
of money and you're gonna feel a higher sense of accomplishment by getting rid
of your manboobs without the surgery that's what I did and I feel great about
myself now they look good feel good baby hey hey but seriously I feel wonderful
whether it's your diet whether it's through exercise or whether it's through
just giving your body time to mature into adulthood and to get rid of that to
get out of that stage of adolescence where your body is just hormonal II
fluctuating and all that kind of stuff and.and just take time guys just take
time go through the process of building muscle and having a healthy diet and
getting a composition where it's housing a masculine physique one of the things
that bothers me from guys who gets the surgery done is guys who get breast
reduction surgery and they don't even work out they don't work out did it
shows that they have not tried the right ways into developing our game the
physique that they want and they're just relying on surgery you know
as far as breast tissue goes or as far as the chest fat goes you're gonna see
guys who take gets the surgery done and they get a surgery done they got rid of
the puffy nipples or they got rid of the gynecomastia and then what they just
look like a normal skinny person with a high body fat percentage I think what
you should try to do is before you get to surgery done go to the gym fix up
your diet alright try everything naturally that you can to get rid of
your manboobs and obtain the physical body that you want to showcase let go
through the process of developing your body into a work of art first and then
maybe the breast reduction the mill the male breast reduction surgery could be
like your icing on the cake they just finishes it off if the cake is not good
enough for you yet you know I'm say oh that's a good example okay say your body
is like a cake that you're entered into like a cake a cake contest you know I'm
saying so your cake is crappy or your body is crappy it's not what you want it
to be and then you start dressing up the cake you know what I mean you start
putting it over in its moist and delicious that's what happens after you
you go to the gym your body's moist and delicious right and then after your cake
is good enough if it's not good enough then you can get the surgery done and
add the icing on the cake that probably did not make any sense it probably
didn't but I hope you got it case in point breast reduction surgery
should you get it yes if you've done everything you can possibly to get rid
of it and you're still insecure about it they sure spend that extra cash and do
the breast reduction surgery it's around $3,000 now-ish give or take a few
thousand back then I remember was like eight thousand something it was a high I
remember it was a much higher price point that intimidated me but then again
don't get their breast reduction surgery if you've grown comfortable in your own
skin you've attained a healthy physique that you're proud of that's what it is
it's either it's your decision sure if there's like a tumor under your nipple
get the surgery done guys get rid of that she is you know is that that's the
only time they should have to have to have to get their surgery this is just
my ranting this is your my opinion I'm not a doctor guys unless
you want to play doctor ladies just get in
Jeff kidding all right guys that's the end of the video thanks for watching
alright be sure to click these or click that right there that's the playlist of
mad bull videos that's gonna highly encourage and help you guys in your
process of getting rid of your ma boobies again thanks for watching guys
as always god bless you and have the best day ever I'll see you guys soon
-------------------------------------------
What REALLY Happened to My Income Reports - Duration: 6:58.
For more infomation >> What REALLY Happened to My Income Reports - Duration: 6:58. -------------------------------------------
How Much Can Our Partnership Really Make? - Duration: 7:24.
Welcome back friends.
We are nearing at the end of the series all about partnering.
And you know, at some point with my potential partners, they're going to ask this question:
"Well, how much money can we really make in a partnership?"
And today, I'm going to give you that answer.
You know, I want to share with you what I've learned in real estate.
Because this strategy is not about flipping a quick $50,000.
I learned a long time ago that while that feels really good, it's really just a job
and real estate.
And it can become if you do it right a good paying job.
But guess what happens when you got the 50 grand?
You got to start over again.
We're talking about a more passive approach that has the ability to produce exponential
wealth with time.
So, there's a couple of things in answering this question: How much money can we make?
I want you to first understand that it comes down to you.
Because I am a pretty aggressive individual.
And My results are really aggressive.
Now, aggressive doesn't mean risky.
Aggressive doesn't necessarily mean out of control.
What it means is I know how to find the very best deals to make my money work for me.
And if you remove real estate.
1800's philosopher and economist Javy Shay from france said that, creating wealth is
nothing more than taking money from areas of low yield and putting them in the areas
of high yield.
Friends, as all we're doing in real estate.
You got money sitting an annuity, 401-k, IRA, home equity, savings, under the mattress,
gold, silver.
The reality is none of those assets are producing a residual income for you.
So, they're highly speculative.
But for being speculative, it's not Vegas.
They don't give you a whole lot in return.
They may have not risk but they also don't have a reward.
So the problem is is that we have society telling us to do this things with our assets
that frankly benefit the fund managers and benefit the financial planners.
But the system is broken.
It's never ultimately going to get where you want to go.
And when you find that out, you say, "Well, I need at least be earning 10% or more so
that overtime my money can become something."
And we're trying to do obviously a lot more than that.
With that being said, it comes down to you.
If we partner up, you're kind of holding in the rails and saying, "Hey, I have an intention
of doing 3 properties but then maybe in the first year we do only 2?"
What's the difference between 2 versus 3 properties overtime?
Well, I can tell you that the end result is not just going to be a third more money.
It's going to be a lot more because we have compounding interest.
Watch my other videos on compounding interest and discover how powerful that compounding
can be.
That's what makes this work.
It's not just a 20% ROI.
It's a 20% compounding ROI.
Now, whether our deals in hind set are only producing 10% or 8% or 30%.
All of which I've seen.
They're all compounding.
Which means that aside from the total ROI, we have something working in our favor that
can get us somewhere.
It's up to you however to do your part.
I can bring the team, I can bring the deals, I can put it in front of you.
There will be some risk, obviously.
But only you can pull the trigger on whether you want to buy 4 homes or 2 homes.
One of the things I recommend is first of all, understanding that you're really holding
the trigger.
The second thing I want you to understand is that real estate, in the fist 3 years,
you're going to look back and say, "Kris, this is so boring.
Like, what we've really gotten, right?
We've bought this property.
Yeah, it's cash flowing but then it has repair sometimes.
You know, what's this really doing?"
Sometimes it's not until the 3rd, 4th or 5th year when you get to your first round of refinances
or selling.
That you're like, "Whoa, whoa, whoa!
We have profits."
We can actually now take the original down payment and put it to new one.
And then also, take the profits, some are mine's, some are your's, 50/50.
And we roll it together into the next one and guess what?
One home just gave birth to two.
So, if you start for example with 3 properties, then maybe 3 or 5 years, they become 6 properties.
Again, not very exciting for the next couple of years.
But then we have our next tax-free refinancer-selling event that comes do or home equity line or
whatever that it's going to be or collateralizing.
And all of a sudden, 6 becomes 12 properties.
I find from my partners that once you've seen it double the first time, it's really exciting.
When you see it doubled again, that's crazy exciting.
And if you'll continue doing that, we're going to have this thing turned into a tremendous
amount of wealth.
Now, understand that we might split some cash flow along the way and take a distribution.
But outside of that, when we sell a property or refinance and get a pile of money, that's
going to represent some original down payment.
It's also going to represent profit.
Me, I am in a position where I can keep rolling my profit forward.
If for whatever reason it's time for you to take that money and actually split it and
keep your portion, then what I want you to understand that's going to happen then is
all the money you put in, get's paid back first.
But now, I've put in money.
I've put in profits.
That get's paid back and then the rest of the profits also gets split 50/50.
I will tell you that when you say, "Well, how much money can this make?"
You got to let it roll.
You want to give it the benefit of time.
I will give it the benefit of experts.
I will give it the benefit of the some of the top ROI properties.
You need to give it the benefit of time.
And if we can be on the same page with that, then like I said, the first decade really
is about taking a small amount of money and turning it into a lot.
And the second decade is taking a lot and turning it into a legacy.
A legacy means that you have so much wealth built that you can donate.
You got the money for your family and your loved ones and your posterity or children,
your grandchildren.
You also have money for, probably charity or doing some other great works where you're
leaving a legacy.
Which means, you might be gone from this planet or old.
You and I are both there together.
But the assets are still doing good in society for you, for your family, for your loved ones
and for others.
So, that's really the goal here.
What I can say is, if you want to go faster, every time you do a good job managing your
money and saving the money and putting to next deal, guess what it does?
It will actually make it possible for you to put more in.
Which will help us do more.
I'll do my part by reinvesting my profits outside of the cash flow distribution.
Together, ultimately, we can make this thing soar.
Now, once in a while, I do have my partners that will say, "Kris, but if I want to go
faster?"
And I ran out of money too.
I have to wait to multiply the portfolio.
What do I do?
And when you come up to the live event, one of the things that I love to do is train you
on how you can find partners and bring them to the table.
A point in time comes where you have the ability to bring another peoples money.
Whether I am or am not involved.
Where you can keep growing faster, faster and faster and faster.
Some of you might want to partner with me and say, "Kris, I want to out of my job in
5 years."
But I only have this amount of money and if we let that grow with your maximum rate, it's
not going to be what I need.
What can we do?
Well, I can teach you how to partner.
And that's something that you're going to need to build a track record and portfolio
with me on.
We're going to want to set up our money to be growing on going on it's course.
And then I will show how to document all of that and take it to other people that you
may or not know right now.
How to get them want to partner with you.
And I'll show you ways that you can leverage my same system.
So, that you can have all your money growing in our portfolio together.
And you can have their money growing and your portfolio with them.
That's probably one of the coolest perks of actually partnering with me is I am going
to show you how to that from A to Z.
Friends, thank you so much for watching this video.
Again, if you are interested in partnering, click the link in the description and apply
for that.
Either way, take full advantage of this knowledge.
And take this partnering training that you're getting and put it to work.
Let's do this.
-------------------------------------------
This week in Bitcoin- 10-26-2018- How much should we care about what the average consumer wants? - Duration: 1:42:07.
Hello everyone this is adam meister the bitcoinmeister the disrupt meister
welcome to this week in bitcoin today is October the 26th 2018 strong hand
long-term thinking by a whole uncomplicated bull one Bitcoin equals
one Bitcoin bitcoin is the next Bitcoin perfect responsibility is a new
counterculture I just said a lot of my slogans like wow I don't even mean the
same all but I'm excited because we've got a worldwide guest we've got Lauren
Cameron off in South Africa then we got ties n who's an American but he's in
Vietnam right now but he's from Vietnam originally but he's just returned back
to Vietnam after many years and now Francis Puleo is in Montreal because
that's that's his place man he's he's out in Quebec Canada so I am really
pumped I wanted and I'm Santiago Chile where there was an earthquake last night
but whatever this kind of things happen town that freaking like fun so I usually
don't read coin desk articles and I don't talk about them and there was an
article though and the the first line in it it just inspired me and maybe I got
to read this first line because all of my guests will have something to say
about this but they all have different takes on this so crypto needs a killer
app and a better sales pitch the average consumer just doesn't care about
decentralization all right so I thought about that and the average consumer
doesn't care about decentralization the average consumer doesn't know very much
about Bitcoin or cryptocurrency how much should we care about what the average
consumer wants right this second should we be trying to come up
with gimmicks like crypto kitties to get people into here what is needed now
versus what can be done later should we be working on an unsent ruble base layer
of cryptocurrency or should we be reaching out trying to get people to
spend right now so Francis I open it up to you what what what do you think about
this who won what is going on Francis you're me is Francis of frozen
oh man he's frozen Francis what happened all right
then we'll go to look I don't know Morty Lori what do you have to say about this
so I agree totally with the the third with the second part of the title about
decentralization no one cares but the vast majority of people in this planet
who are yet to come into crypto and make it the big thing don't even know what
that means they have no idea but the first part of it I don't agree with
because it says Krypton needs a killer app now the killer app has always been
currency so I Adam as you know I love coming on to your show and talking about
Bitcoin cash and I always love it when people respond so I'm glad that I can be
here doing that and the killer app has always been currency and as long as we
can make it currency and we can make it cheap and easy to use and people can
send it to their relatives across border and they can pay for things easily if
they don't have access to traditional payment systems then that's the killer
app all these other things crypto kitties and smart contracts and digital
assets will come once we have created the killer app which is cryptocurrency
we've made that stable and we've made that scalable and everybody uses it so I
agree entirely that the vast majority of people don't care about decentralization
in fact most people have heard about Bitcoin but they don't know there's a
difference between one or the other they just want to get into the scene and if
you sell them one and it's easy to use and it's
nice enjoyable then they'll use it so I don't agree that there is no killer it's
always been currency but I do agree that of course they don't care about
decentralization so you're saying that that you think that they currently care
about just transactions basically making a spending cryptocurrency is with the
what their consumers that they want to consume right now and that that's what
cryptocurrency should be focused on right now yes they want a nice app that
looks pretty that connects to their friends that allows them to easily load
their wallet with Bitcoin and at least easy that allows them to pay buy things
with it that's what people want because we yeah we think that you know as
cryptocurrency buffs we in this little bubble and and all that matters is
creating this this decentralized store value that governments can't control
that's kind of been the driving force behind crypto but it it is only suitable
for this bubble that the crypto heads are in it's not suitable for the vast
majority of people on this planet who we want to get into crypto so crypto can
eventually moon and change the world so the idea now is how do we get other
people that are not cryptocurrency buffs into the space and the only way we're
going to do it is by creating cool products okay and so that is the average
consumer of the day you want to get them in here now Frances how about you should
should people we be trying to get the average consumer into crypto car see
right now to spend right now or should we be focusing on the base layer of the
uncensor bull base layer this stuff they don't understand like decentralization
yeah sorry about that like I pumped out of the of the video my
Internet's really bad over here and my I mean a undisclosed the analyst location
streaming on my hotspot 4G with no internet here but um yeah it's a great
question so you know I started out in Bitcoin as a as a as a advocate for
adoption so when I started out at the Bitcoin embassy we had this physical
office in 2013 with a mic best a kiosk which was downtown Montreal
in a in a very public space with a big glass window I was like you know 12,000
square foot building so a lot of people would come in all the time I mean we try
with definitely were tens of thousands of people and I have to say my view of
adoption changed over time as I interacted with real end-users and I
actually saw who's using Bitcoin like we you know when you're running a physical
Bitcoin kiosk you see all sorts of crazy stuff you meet all sorts of users and
you kind of start to to lose this conception of the you know the they use
the target user that perhaps some of the Silicon Valley startup know you know
unlike what's just been said I I really don't think I really don't think that
users are are looking for neat apps to to pay their friends that's not bitcoins
value proposition as far as as far as I understand it after all these years you
know people will not use Bitcoin because of the technology and people will not
use Bitcoin because it's it's cool or because it's it's necessarily easy to
use people we use become because they need to eat and people will use Bitcoin
because their wealth has been seized or is about to be seized or is about to be
censored at that time when that happens and they're ready to make that decision
it is definitely a good thing that we have like user friendly apps and
abstracting away all the complexity but I see that that's more being kind of
like a second step the first step so you know your question was what's the what's
the fundamental use case of Bitcoin and you know you mentioned that some people
are trying to go after a killer app well you know block chains are very very
specific things that do a very specific you know they're very complex and simple
things at the same time but they do one specific thing that nothing else can do
specifically Bitcoin its prevent censorship resistance and via bitcoins
deployment as a peer-to-peer network with you know a shelling points we
achieve something called immutability of Records which is a really good use case
and we also achieve something called you know censorship resistance with
with Bitcoin and obviously some money so the use case of a blockchain is very
very specifically to have immutable publications ledger in our case it's for
financial transactions you have censorship resistant transactions
themselves and to be able to enforce the sound money policy so it's you you can't
just go around trying to find other use cases to make it fit I mean there are
other use cases like once you have immutable Bitcoin transactions there are
some use cases that you can use you can do with Bitcoin for example you can use
it to make records immutable by putting a hash of a document in a big con
transaction because any data that you put in a Bitcoin transaction will
automatically inherit the properties of that Bitcoin transactions meaning it's
immutable and Trust to see verifiable and you can also use the Bitcoin
scripting language or sort of speak Bitcoin smart contracts in order to
build you know sophisticated second layer platforms that are leveraging
bitcoins proof of work and in that case I'm talking about side chains side
chains are basically a kind of government governance mechanism for
consortium that wants to have some kind of decentralized arbitration mechanism
right so if you have a bunch of industries that are that are
collaborating together they want to have a consortium and you don't want to have
a third party arbiter judge or escrow to handle the disputes within a consortium
you can use you know a Bitcoin side chain in order to do that and of course
for the light for the famous use case and you have stuff like Lightning
Network which is there so you know to kind of wrap up people have this idea
that you know you know venmo is really good you know fiat coins like USD see
these are these are cool things these but these are like novelties for
Millennials the way that I see them these are like fun things to use you
know we used to have a bunch of stores in Montreal where merchants would accept
Bitcoin payments and you know I would be the one that would go to the merchants
so he would accept Bitcoin in his wallet directly and I would come like every
month to like six or seven merchants and I would just give them the cash right so
we would like monitor like what purchase it was and these guys were just
bitcoind it would go straight into our Bitcoin wallet and then I would I would
go back to the shop and pay with cash and then you know we were the only ones
spending money at those merchants and it's not different because bitcoins suck
at that time the fees were really low people had bitcoins it was easy to pay
with Bitcoin these are experienced with like super seamless it's because people
don't want to spend their bitcoins people see Bitcoin as the censorship
resistant head or asset and in terms of payments you really got to see like who
are the power users that are using Bitcoin payments these are the users of
censored websites of censored software of censored services that are trying to
circumvent something and they're willing to go through a very very large and
difficult hoops in order to use Bitcoin you know people don't realize how many
costs are involved with you with Bitcoin payments like the the Bitcoin
transaction fee is such a miniscule costs of using Bitcoin for payments like
when you're when you're using Bitcoin just a volatility of the price it's
gonna either wipe out your your your value like of 2% per day or something
like that or increase it 2% per day so the payment transaction costs are not an
obstacle to Bitcoin adoption the biggest obstacle to Bitcoin adoption is
specifically this opportunity cost and the knowledge of everyone that Bitcoin
price will go up in the future so I have actually thought about how to solve this
problem I have thought about this with other companies like bit refill which
accepts Bitcoin payments for phone top-ups and we've come to the conclusion
that the thing that's missing for Bitcoin adoption is not better apps and
it's not cheaper payments it's just people need to earn Bitcoin as a living
people need to get their income in bitcoins you need to get paid in Bitcoin
so a statistical of observer observation for example that we have at Bill's so
Bill's is Canada's largest payment processors so you know when people spend
Bitcoin a lot of them will spend it on bills and we also have a website where
we elect people by the coin and with by Bitcoin online like a kind of coin base
equivalent and what we've seen is that the people that buy bitcoin with yet
don't spend that coin people that buy become with the ad they tend to hold
Bitcoin or they'll sell later for morphia so they're gonna be like buying
at you know in September and selling in April at a you know 30% you know premium
or from what they bought but the people that get the coin as income the
do tend to spend Bitcoin on good services to pay their debts like I said
I rap so the simple solution is if one more Bitcoin adoption just get more
people to endure it come in Bitcoin all right I know Laurens gonna have
something to say about what's just said but I want to get ties ends opinion in
here first what's your take on what's been said so far ties in the question is
what's gonna get the Bitcoin to get adoption and at the same time should we
be worried about Bitcoin adoption now or should we be built building a base layer
you know the odds are we'll aspect you know because there's a lot of people
it's very complicated right now and a lot the average consumer does not
understand the importance of being it being uncomfortable like here mentioned
midcal just sent in the super check thanks for 5 bucks dude he says exactly
after seeing so many of my fellow mechanics wrecked by the family court
system I wanted a government resistant store of
wealth well pension is smart he wants a governor resistant store wealth but most
consumers they only know what eats they don't know so should should we be
worried about getting most consumers in right now or should be be worried about
you know a government resistant store wealth well there's three - there's
three points I want to cover to address that that you just said you know first
is that you gotta look at the cultures you know I've been living in America for
like four decades and I finally left America and we located back to my home
country of Vietnam and what I think what I've noticed here Adam is that in the
West our credit card system works fine you know it's so much easier to use than
Bitcoin or any cryptocurrency it's so anybody can say that it's easy crypto is
easier it's not easier than a credit card okay you don't have the fraud
protection and all the other stuff yeah it comes with an expense and there's
huge transaction fees with credit cards but it's still easier okay and so in the
West people don't see the need for crypto or like it's not like well why
should I jump to crypto is not easier than credit cards and then I shift over
here and I relocated back to Vietnam and I'm currently broadcasting from Ho Chi
Minh City what I'm noticing here is that in these
countries like this that's that's not as fully developed as Western countries
people are still using cash by the idea of using a bank account right they don't
trust the banks at all they don't trust the banks it all over here like you know
everyone that I have talked to so far and keep in mind there's like over I
don't know nine million plus people over here in Ho Chi Minh City and I haven't
talked to anyone but the people that I have talked to no one is a huge fan of
using banks because they have this fear that the banks are gonna run off with
their money they don't always have they just want to cash in hand they want
something as tangible and when I talked to them about crypto or even mention to
it they're like what's what's you know they call it like tronic money here when
you translate to viet vietnamese and they're like what's electronic money for
like we just want cash like why would you like why would you trust someone is
sitting like you know do the bank cuz they think it's some type of banking
system and no matter how much i explained to them that like they just
don't get it like hey we just want cash like people buy houses here like half
million million dollar houses with you know blocks of gold
you know bricks of gold and that's what they buy it with like you know they go
buy a house with bricks go and they pay cash for it they don't believe in
finance and then blaming that stuff you know and so the idea of something
abstract such as a digital currency or an electronic currency is forwarding to
them you know I'm saying later on I'll get to the part about the
misconception about the ban in Vietnam I made a separate video Bob but I want to
summarize it for your audience here also so that's the first thing is the Eastern
culture wants physical tangible money the Western culture does not see crypto
as being easier to use in a credit card which leads me up to my second point is
that right now crypto is not you know it's just not user friendly it's just
not user friendly and and and people don't realize that people do not you
know like I think Henry Ford said the hardest thing for Humanity was to think
you know and people just don't want to have to think and figure shit out you
know excuse me you know but they don't have to think and trying to figure how
do I use this Bitcoin how do i download it what's the difference between you
was using hardware wallets and all this stuff that is confusion and I come from
a sales background and I say this all the time when I'm training salespeople
nothing kills you no adoption nothing kills a sale faster than confusion like
when you try to sit and explain to people about you know crypto currencies
or Bitcoin or anything like that you gotta whip out the wall and you got
to download this and do it's just nothing but confusion and when they
download it's not like the the wallets are user friendly like the only one I've
seen out there that's really user friendly is the exodus wallet you know
and still the use of most user-friendly one you know in full disclosure or a
company has a equity interest in it so but it's just things are not as user
friendly because we have all these technical people and they we just want
to see who's more technical and they brag about the technicality in software
development but the reality is if you want adoption you got to make it so it's
easy for people to use you know you talk to all these crypto software engineers
and every one of them are like it's simple just do this or just download
this and stuff and they don't realize that the majority of world cannot do
that you know and they kind of think of how do I make this easy for people to
just look at it and just use it without a lot of instruction you know and so
those are the things that I would point out and the third thing is that you know
and this is the third point I want to make is that this infighting in in the
Bitcoin community you know like when you and I first started we only had one
Bitcoin so all the channels everybody was on broadcasting the same message and
now we got all these people taking sides and everything and the sad thing is that
you know that the sides are all you know in my opinion trying to accomplish the
same thing but because we're not on a unified front you know in promoting the
message you know like we used to when everyone first got into Bitcoin right
that there's confusion like people come in you know and there's one coin talking
bad about another coin this coin talking bad about another coin you know and and
you know when people see that they're like why should I use this curse I'm
just gonna go use my government-issued money you know so those those are three
things I would say that and and so if we can eliminate those things and focus on
getting people to use it I don't that that the you know some people like
to focus on the protocol layer or get that straight now before we get adoption
and stuff and I don't believe so there was a time when when people the adoption
was growing and growing and people are actually using it as a courtesy as an
hour trying to cash like it was intended you know and nowadays there's you know
that there's just too much confusion on why someone would need to use Bitcoin or
a cryptocurrency and that confusion needs to be removed so they kitten gain
faster adoption well here we go I want to say one thing ties it doesn't even
realize it but he just like cave like a perfect segue for Lorien to talk about
sent beat which he's a bad thing which he's about to do so everybody pound that
like button if you if you like that convinced right there was a time tiny
didn't mean to do that but he just it's a lead into Lorene and I'm sure Lorene
has something to say about what uh what Francis said also so uh tight I in sent
B I guess now Lauren you got your perfect perfect uh so you know Francis
tie you guys made great points every everything you said is is exactly the
state of crypto today and to touch on on one of them and Adam you you said it the
adoption thing you know that is critical because there are some actually there
are some fundamental things about this crypto space that are built into the the
fabric of this ecosystem that mean that we can't just sit on this space and
slowly tinker with it and slowly evolve it and slowly develop it the adoption is
going to be critical to the success of any blockchain and the reason for that
if we just look at the the bitcoin type blockchains where we have this idea of a
supplier that gets harmed over time now Adam you frequently talk about the 20/20
having you know it was exciting when we had that having before you know clearly
there was a supply and demand dynamic the demand was high so when we saw the
harvin happened we saw Bitcoin the belly went up and that is one of the messages
Adam that you bein reaching a lot is listen just hold out
for 2020 because if we can get to 2020 you're going to see that there's going
to be a job in the supply there's going to be the same demand prices going to go
up and everyone's going to get excited but that actually is a huge problem
because if and when let's talk about PTC right now specifically if BTC cannot get
adoption by the time 2020 comes the heart the supplier is going to have and
that means miners are going to be desperate to try and make up their
income on something else now of course everybody is depending on lightning
Network where people can eventually start transacting am lightning Network
and that will make the space a lot more user-friendly I guess in terms of at
least though the speed of transactions and the fees and that means that the
miners are going to have to have higher fees but that's okay because all you
ever going to have to do is pay for the high fee to open a channel and then you
can have your instant transactions at very low cost but that's all the payment
on lightning actually working out by 2020 now we all hope that this is
something that could happen but if lightning doesn't turn out to be
user-friendly as high as you mentioned enough so that the vast majority of
people can start moving in and the demand goes up to use Bitcoin as that
settlement layer the Harvick is going to be the worst thing that could happen to
Bitcoin because then if miners can't make up those fees the the reward with
the fees the the chain is going to die so getting back to the adoption if we
can't get a blockchain to be adopted it will eventually die now I don't know how
long that will take but to me it's sooner rather than later
because of the dynamic of the harvick so it is about user friendliness it is
about trying to create products that appeal to the mass market not to the the
people like all of us who've been in the space for so many years and love the
idea of decentralization government constancy or transactions we love that
you know that's what has driven a lot of people in the space francis you talked
about it but it doesn't drive the vast majority of people that we need to get
into the space so this thing can take off it hasn't taken off yet and it is
going to be all about creating user friendly
whilst I mentioned that you have an interest in a user-friendly wallets that
is precisely what we're trying to do we're trying to create wallet a wallet
that my grandmother can use and if that if we don't get that right she's not
going to use it and that means bitcoin is not going to be used
now obviously I'm big my cash man because I feel like you know the the
whole lightning prospect is a lot more gray I can't see that turning out I mean
obviously we're hopeful but it's not a certain and I'm much prefer that the
notion of Unchained transactions and so on but that's a debate we can take but
at least it means that I can create a user friendly wallet and I don't have to
now try and build a product but it depends on a technology a hair
lightening that doesn't exist yet I can just go and create the user friendliest
wallet by the way sent B and I will put a little lower out there if you want to
right now check out sent beep and if you tweet your receiver address I'll even
send you some Bitcoin cash and you can do whatever you want with it you can go
and dump it if you like but my focus is trying to get the the mass market into
the space because I want this to this to work I want Bitcoin to succeed in
whatever iteration that is and the only way we can do this is by getting as
quickly as possible the mass market to get into this space all right Frances
your turn what do you have to say about all this I'm sure you have some words
yeah sure well I basically disagree with everything that's just been said um so a
few points particularly just just let's just talk with you really quickly about
Lightning Network so I mean I know a lot about the Lightning Network because I at
Satoshi portal like we develop open source middleware for web apps and
mobile apps to integrate the core notes and vikre note software like the
Lightning Network and I mean the Lightning Network does work it is live
and it is functional I think one of the main issues the only issue we have with
Lightning Network right now is that the entire and you know this reflects the
twisted kind of mentality of people in Bitcoin regarding adoption like looking
for payments adoption in payments as fast as they can and merchants without
looking at why would people spend Bitcoin any way out of merchants if they
don't you know it if the price is going up you know this is the
merton adoption has never been easy it's always been the price of Bitcoin always
going up and people don't want to sell it because they know that if you sell it
now it's like how many times have you bought something in the past and you're
like wow Mike chromecast I have like a chromecast at home which is probably
worth like ten thousand dollars like today because of the because of the
amount of bitcoins that I paid for just a tiny gadget that was like 70
bucks back then so like lightning net where does work it's perfectly
functional it's actually quite amazing technology the only problem with
lightning Network right now is that not a lot of people or no one is focusing on
buying an earning Bitcoin using lightning Network transactions
everybody is focusing on spending at emergent using a lightning a net where
transaction and this is again a result of everybody focusing on merchant
adoption like it's important it's not that important at all what's important
for Bitcoin holders is that they can always cash out their bitcoins whenever
they want they're not stuck in a pyramid scheme they're not stuck in a Ponzi
Ponzi scheme the point of a Bitcoin adoption of the merchants is that people
know that if you have Bitcoin you can actually exit it anytime you want and
it's actually far far easier for people to use like prepaid credit cards prepaid
debit cards and actually shop around and then periodically use their called
Bitcoin wallets their treasure wallets and then just dump a little bit coin to
pay off their credit card it's much much much easier to do that so for lightning
all that's missing is for like Bitcoin ATMs and Bitcoin exchanges to to perform
withdrawals in Bitcoin and not only in Bitcoin likely network transactions and
not only except Lightning Network then think of you know kind of in a way it's
the same difference between like cash in the bank account and cash in your hands
you know there it's not the same it's not the same they don't have the same
properties right so when you have cash in your hand it has different properties
when you have cash in the bank account it has different properties so there is
this kind of little friction between Bitcoin and lightning Network
transactions and people just need to earn their their income in Bitcoin and
in-lining network that's the best way to get Bitcoin adoption and lightning
Network adoption um regarding just the use case the use case of Bitcoin the use
case of Bitcoin is sound money it's as simple as
any censorship resistant and it's as simple as that I was studying you know
I'm an arbitrage trader that's what we do right that's that's that's like my
core business so I send money from oneexchange to another in Bitcoin in
Fiat and I buy low somewhere and I buy hurry somewhere that's what I do and
people think like blockchain technology and and and cryptocurrencies and all
that they make payments and settlements like much easier and faster between
institutions then then then Fiat or Bitcoin that's just not true if you look
at the Fiat coins for example like the u.s. DT and the u.s. EC people think oh
wow look at that that's that's a great example of how blockchain technology can
can increase efficiency can decrease friction cause but that that's that
that's that's really not the case because if you're moving money from one
institution to another using a Fiat coin it's exactly exactly the same process
for example it's a time on crack in and I want to move money to 2g Dax or
something I'd say oh well you know using a Fiat coin like your ZT is great well
no because these coins are just fiat bank are you'll use which are secured by
in exchange so it's the same thing of holding money on crack and for example
you have bitcoins on crack in you sell them there now you have a USD balance on
crackin right it's stable it's not vocal anymore it's not Bitcoin anymore it's
denominated in USD so you had yourself you don't need a few icon to do that
just go on an exchange sell your bitcoins there and hold the balance on
the exchange because holding a fiat coin is exactly the same solvency risk right
because if the exchange that is the custodian of the fiat and the bitcoins
has has it has a solvency problem then he can't he can't credit that how you
use it's the same of a fair coin a fiat coin ruu is the same thing as an
exchange deposit I use this exact same thing so you go on an exchange you sell
all your crypto is there and you hold it yet USD balance there what happens if
you want to move money from one exchange to another well you know using a fiat
point it's not a censorship resistance panel you have to go to exchanges that
are part of a consortium it's not liquid so just take that USD balance on an
exchange just buy that buy bitcoin with it and take the Bitcoin send it from
your Kraken balance to your GTX balance so you know all of these all these use
cases for for these crypto currencies when they come to moving value they're
exactly the same as PayPal they're exactly
famous Swift I mean it's not more streamlined or easy to send a wire
transfer from an exchange to another seriously than to send a Fiat coin so
the the main value proposition of Bitcoin comes from so adopt why do you
want adoption so you know like everybody's talking about like let's get
adoption let's get adoption but why why do why do we want Bitcoin adoption well
the way I see it there's there's only two reasons why I would want the current
option the first one is I want to use bitcoins with other people I don't want
I want to up top UPS as a principal I don't want to touch fiat currency and I
see the same way as using PGP I don't want to use clear net and I want to use
public messaging channels where everybody can see my transactions if I
use PGP and I want to communicate with others via PGP I need them to adopt PGP
because like I'm not I'm not I don't become private if I download a PGP
software I only become private if i download PGP software you download a PGP
software and we actually use it that's that's like adoption for Bitcoin it's
kind the same thing I want people to adopt Bitcoin because I want people to
accept Bitcoin for me but the real other reason why we want adoption is because
the features of a blockchain do not come from code but that is a mistake the main
feature of and the main value of blood chains comes from scarcity not utility
utility does not drive value you know grass is useful for a lot of stuff but
grass grows everywhere and it's not hard to produce the value comes from the
scarcity of a blockchain and the utility of it comes from decentralization so
what are the properties of Bitcoin that are useful since again censorship
resistance immutability and scarcity these are not this isn't stuff that's
coded into the Bitcoin code it's the fact that people are running a
decentralized network of full nodes and they're downloading the full node
Bitcoin core software and every time there's a transaction they're fully
validating that the monetary policy rules were respected and that the
transaction rules were respected this is the this is what makes Bitcoin
decentralized the reason why bitcoin is censorship resistant is simply because
there is a large network of nodes if you take Bitcoin and you fork it into D cash
like or something like that and change the parameters it doesn't have the same
features as a Bitcoin like Bitcoin cash is not
ship resistant we know that there's like you know a single group of miners
developing it and there's not a lot of nodes running it
Bitcoin cash is not in univille they change the rules all the time they even
change they the issuance schedule of Bitcoin and people don't know that
Bitcoin cash is issuing more bitcoins than Bitcoin because of the emergency
difficulty adjustment that they did and Bitcoin cash doesn't allow for trust as
verification because nobody can nobody's gonna be able to download the coin cash
notes because the coin cash nodes are gonna be like a hundred gigs eventually
per block I mean is you're gonna you know you know it's already hard to
download and use Bitcoin notes and the current cash is gonna become unusable so
there's gonna be no real use case for this thing because it doesn't matter
what software you have if the network isn't decentralized adopted it doesn't
have any properties that are scarce and hard to reproduce so really people need
to understand like the features of a blockchain that are valuable are the
ones that are hard to reproduce and if you can fork a feature into code it has
absolutely no value and the goal of adoption is to make sure that Bitcoin
node network remains decentralized and secure because if the Bitcoin node
network doesn't have a lot of participants it becomes easy to censor
it becomes easy to revert transactions and it becomes hard to trace as you
validate and Bitcoin loses its value proposition so adoption I don't I don't
think we should go for adoption at the masses the other goal of adoption is you
want to have people to have skin in the game in the same game as you right so
you can't trust anybody in Bitcoin there's no there's no lender of last
resort there's no there's no authority that's gonna come save you what you want
is you want to have a lot of other people that are in the same corner as
you that are in the same tribe as you that have the same interests as you
so I'm an advocate not of global mass adoption but of targeted adoption
I want engineers at NASA to hold Bitcoin I want politicians to own Bitcoin
entrepreneurs to own Bitcoin I want you know ex-military veterans to use Bitcoin
I want everybody in society that we want on our side to be in the trenches with
us when we go through this hyper bite mechanization event and when there is
actually a confrontation because right now
bitcoin has not had a real confrontation with governments with central banks it's
been really fun so far there's not a lot of enemies that have come at us
so once this happens there's a crackdown we don't I don't want mom and pop on the
street to be in my corner I want the people that are influential to have a
lot of bitcoins so that this this is the goal of Bitcoin
the goal of Bitcoin is to go against government's central banks and that's
the main use case and that's what we need to focus on ty no I there's an echo
somewhere put your headphones on dude okay so you're saying that there's no
confrontation well I'm gonna get confrontational right now about what
you're saying because on Bitcoin was in there to be like trying to peer to peer
to cash and that's used for payment systems so to say that you only want a
special part of the population to use Bitcoin or things like that I completely
disagree with that I completely so when you say was in cash what what what are
what do you mean by cash the reason why Bitcoin was invented was because no one
was able to invent electronic digital cash that people can sell anything
what are the properties of cash that properties of cash there's six
properties of cash and I'll explain to you don't understand it because you know
if you've been around in Bitcoin for a while you know the first is that it's
fungible so we all agree on that so no one is disagreeing on the fungibility
if each piece of cash has a has a unique ID on it no cash the idea of a currency
is that it needs to be fungible so that one unit whether you chop it in one big
piece or a small piece it's still the same one else well that's money that's
not cash that's that's money when he's supposed to be fundable cash that's not
fungible each cash this piece of cash has a serial number yeah but you know
you can flip the script and try to change the script and all that you want
man but you're going to change how people look at currencies of what is
this and what is that I falling flat crap man
it's a lifetime I'll tell you what the properties of cash are as an economists
you know me because I already know it man I already know where you know I've
been preaching about Bitcoin since 2012 you don't know what that back to 2000
man you don't sit there and tell me I don't know what it liked Ronnie Cash's
man okay hours of different currencies of Tweety currencies all my wife man
most of my adult life like 20 cash or so don't want cash is only six probably use
more cash in my hands in the last thirty days of my life and you probably will in
the Recio life have more money than the whole of Rwanda you know are you taking
a you think Rogers
okay so don't tell me I don't know what cash is how much cash do you have in
your pocket right now hey using it that's why I'll tell you
what the property's interjecting is I'm neutral about this I'm not taking sides
with be cash or Bitcoin cash a Bitcoin you know BTC or BCH I'm neutral I'm a
trader I really don't care which one of them wins you know but I know you're not
gonna be in a broadcast with me and sit there and act like I'm ignorant about
what cash is one is fungible okay and that you can't distinguish one from the
other the cash is the same with yours okay
gosh you have fundable man okay so what happens if you stop possible with
Bitcoin those use something else well that's also anything you have the serial
number on it okay you know you okay and each piece of
Bitcoin even when it's split into a million a hundred million pieces still
has a traction transaction ID on it okay so don't think that is that there's
a hash that goes along with it so it's know is that it's censorship resistant
okay there's privacy yes that's true that's that's you got one so far you got
on just listen up it's not you know I'm saying but the key the key thing that
makes it electronic cash or any any item where there's physical tangible or
intangible that makes it able to be used as a currency fungibility it's important
because people got to know that what they use right what I use and what you
use are the same thing you don't say that's extremely important okay
and when you say that someone is using an if specialized with one person that's
a bunch of crap to me okay especially
what does I mean can you rephrase that I didn't get that at all you're saying
that you want a specific niche of the global population to adopted like
software engineers and all these special people it's at all I think everyone
should adopt it what I'm saying is that people will adopt it because they need
to eat people who are adopted by themselves Bitcoin sells itself
so if I'm gonna win does not so itself there's people like Andres Antonopoulos
there's people like bitcoinmeister there's people like myself there's
people there's hundreds and thousands of people around the world selling bitcoins
to the public every day so the idea that no one needs to sell Bitcoin is a bunch
of crap Andreas Antonopoulos is full-time out there selling Bitcoin to
the world okay so don't give me that crap I'll tell you okay so it's taking
too long to talk about cash but I'll show you what the properties of cash are
there's properties of cash Cash's censorship resistance because when
Satoshi invented Bitcoin PayPal existed and PayPal was electronics yeah
electronics that had already existed for a long time even
Liberty Reserve had existed like digital gold had existed for a long time and
they all failed all of these these centralized payment methods fail to
achieve the digital cash so what is visual cache it's censorship
resistant because if you have cash in my hand and I give you cash physically
there is no third party entity that can stop that from happening since there's a
persistent the second aspect of cash it's a bearer asset it's it's not held
in the ledger the ownership of it is not held in some kind of database it's
whoever physically owns it is the owner of it these are the two big properties
of cash cash is less fungible as far as I'm concerned than bank transfers it's
much much much easier to obfuscate payment trails with bank transfers as
far as I'm concerned it's much easier than actually likes if you steal cash
from a bank it's difficult to get rid of those those cash with Serie numbers so
censorship resistance is the number one feature of cash and how do you get
censorship resistance is by a decentralization and how do you get
decentralization easy you get a lot of people to n dependently verify and
independently enforce the rules and how do you do that you make running Bitcoin
nodes really easy and how do you do that you make Bitcoin nodes really small and
different blocks really small because the average person can now do it on his
phone with a prune note and when I say to go ahead and get adoption like
Bitcoin is a force of nature it's the law of the universe right it's just
currency competition there's just gonna be one winner so bitcoin is gonna win
because faith currencies fail if the fiat currencies that that is your
opinion that one currency is gonna win that's not a lolly
that's just your personal opinion that's what's the advantage of using D cash
over PayPal no I I didn't say I'm not here to say that B cash is better or
Bitcoin core Bitcoin cash any that's better
I'm just saying in general right what this was invented for and the stuff that
you're saying that you know that you're making a sign so you know was it or what
is Bitcoin invented for what's Bitcoin for Bitcoin wasn't invented to be an
electronic cash that cannot be doubled spent okay it has you know
properties of scarcity which we agree on 21 million we're not going to disagree
on that it has properties of fungibility right that makes it
currency right it's divisible we can divide it into a hundred million
Satoshi's right and I'm sure that sometime in the future there's probably
going to be some ways to divide it more if it's necessary right it's durable
okay it's got to be durable so it lasts forever
okay it's transferable that you and I can transfer to cash tied these are
properties of money there's two different things right if you look at
the economic literature there's properties of money generally you you
you you can label it you know cash you can label it money you can label it
whatever what you want you know to try to change up the story of what is trying
to be that's I'm not asking your definition because you say you say that
Bitcoin was intended to be cash and I agree and what cash is cash is trying to
cash it needs to be scarce it needs to be fungible it needs to be divisible it
needs to be durable it needs to be so that you and I can transfer it to
someone else or to each other are you what properties of what makes it a
currency if what makes it to be used as cash okay what makes smiling all these
fancy words but you ain't hiding from the tree you know you you ain't you can
ditch and dodge and try to you know put makeup on what you're you go back to the
videos of Andres Antonopoulos and prior to 2016 everybody that's broadcasting
the same damn message you ain't gonna change up the story just
because you just came a my going against the club membership rules here like you
know you but you know the audience you should know that it's your opinion you
know this is protocol you know I'm saying you're right one of the biggest
properties of Bitcoin is its scarcity in addition to censorship resistant but why
is Bitcoin scarce if I can take like Bitcoin and a guy and I can fork it and
I can form the codes and it does the same thing there's now 42 million
bitcoins right if I have 21-minute many bitcoins and I
Ford the code and the blockchain and by forking the code and the blockchain the
properties remained the same I now have 42 million Bick wasn't that
there's like like we double the amount of bitcoins then I forget again if you
triple the amount of bitcoins so if you yes yes
the property's certain go ahead if you want a forklift man you're welcome to
fork it just like any of the other 2000 cryptocurrencies out there nobody I
don't want to forget and making a point about scarcity the point that I'm making
is that there's a reason why bitcoin is scarce is because if you fork it you
don't get the same properties if you I take Bitcoin right now if I take back on
right now and I fork it into Francis coin right it will not be fungible it
will not be censorship resistant and it will not be a bearer asset it will just
be a balance right so when the value of these currencies is the decentralization
is the node running is the core protocol level which allows everybody to download
it and to run it it's this overlapping network effects and this is what brings
the value to these currencies so adoption for the sake of adoption
doesn't do anything to the value of Bitcoin because if you're using a
Bitcoin wallet and you're in you're using coin base and sending from your
point base accounts using USD see - whatever bit recs account or using
decentralize you know coins it doesn't bring any value to the Bitcoin network
whatsoever it doesn't actually the centralization it doesn't add to the
properties of Bitcoin you might as well be using PayPal
that's what I'm saying so the properties of cash of Bitcoin censorship resistance
you nailed it on the head and it's scarcity you nail it on it again and
these are the only things that Bitcoin does that the Fiat system and apps and
PayPal and all these things can't do all right I did the talk again this is this
is this is good whoa that was unpredictable people pound that freaking
like button uh Lauren Lauren Lauren hasn't spoken for a while here what's
your take what just transpired Lauren well I guess we
all that you're not mentioning the whole point I think which is sound money so
you know I think the word cash of course when you think about cash now we think
of things like Federal Reserve notes that have have serial numbers and and
the fungibility and so on but it's about sound money so sound money is something
that we all look forward to that's why we like scarcity so Frances you
mentioned the scarcity thing but I have to me with Thai you know if people don't
use this thing if we if we keep it to a small fraction of the population it's
not going to become world money and change the world so I believe strongly
that if we are only thinking about trying to create a social system where
everybody has the ability to run nodes and we we artificially limit the
capabilities of this thing I think that we are not going to achieve what we want
which is global adoption I think that bitcoin was always meant to be
competitive and it was always meant to be a specialized they now of course the
issue with between the BTC community is that if we create specialization and
competitiveness it means that everybody won't be able to have a piece of at
least that sort of aspect where you can have a node and I think that that is a
is a wrong notion I think that everybody having a node is going to be what
debilitates bitcoin and restricts it and stops it from growing to become world
money the idea that that decentralization we have to have maximum
decentralization I think is false I think that there is a level that we can
achieve where we have sufficient decentralization and I'm not talking
about where it's sort of decentralized I'm saying that as long as we have
enough decentralization that is enough that is sufficient to have the sound
money system and of course now what we have is an economic incentive for
specialized companies or whatever it is to now start having nodes and as long as
there are sufficient number of them we can have decentralization I know the
fear from BTC is that that if we have a few miners out there
that those guys would easily be able to be shut down I don't think so I think
that what will happen is that this will burn to come and this is another
narrative I think that BTC the community are wrong on is that that with what
we're trying to do is fight against the government the again if we want this to
become world money we need the government to buy in and accept it and
that means we need to be legitimized and of course a legitimized industry doesn't
necessarily mean it's not co-opted by governments and government can shut it
down again you know government is diverse there are many governments
around the world and if it so happens that one country decides to shut down
miners that's okay as long as there are countries out there that allow it and
those countries were allowed if those mining operations become legitimate and
they pay tax and they and the wallet providers the do kyc and of course that
is not a notion that BTC community life they'd like to be a completely
independent of government there they actually know there's this whole notion
of crypto anarchy where ultimately we can destroy government through something
like this I think again that's naive but I mean I'm a libertarian and I admit
that and I would like to smaller government but I think that if there any
way this can become world money and accepted is if we we comply with
whatever the local rules are and regulations and again it's going to be
the way that we achieve what we want which is a world where we have sound
money that is actually what this is all about how can I stop my money from being
debased how can i how can I stop government from having a monopoly on
money and ruining the money and destroying the country like they didn't
Zimbabwe like they're doing in Venezuela so I see a world a much more practical
world where a Bitcoin big is is an economic system it is a capitalist
system it is driven by industries that are competing against each other trying
to outdo each other in terms of block mining and earning those rewards and
where companies like Saint B we provide value around that but we make sure that
whatever the local regulations are we comply with and that means we get global
adoption and that's when the world change is not as tired you said where it
becomes well what you said against is that it's a niche thing and we will
protect it again all odds that is not how the world is
going to change of Bitcoin the way the world is going to change is to mass
adoption how is mass adoption going to be achieved where we have a environment
where we where whatever regulations they are we comply and we manage to take away
the monopolies that government has over creating your money all right Francis
has probably got something Francis to see like who is this we
because like when I when I speak about adoption I speak about like what I do
and like what my business does and what you know what I'm involved in like
there's no we there's no you know the notion that there's like a management
committee of Bitcoin and that like the leaders of Bitcoin like manage it and
make decisions for the way it goes is complete nonsense like Bitcoin is the
robber saying so firstly what I'm saying we don't like if people who want a
Bitcoin to succeed we are you and I the people in the world we want to create
sound money that's we I'm not talking about us as the guys who are selling it
Bitcoin Bitcoin I really existent bitcoins perfectly fine the way it is it
works really really well it definitely fulfills its its its intended usage
which is to be a censorship resistant store of wealth like ask WikiLeaks ask
you know dartnet market vendors as people in China that are using it to
move money I ask people in the role of global money the coin back now is a
niche product sure the the the so what is it you know you say for example you
know you say you think - you seem to take you have two contradicting your
arguments you say that bitcoin is scarce and you said that people don't need to
run nodes why is Bitcoin scarce it's because there are rules right that the
miners can't create money out of thin air and why would the miners not create
money out of thin air hmm why would they not just get more income is because if
they do each user of Bitcoin which is running a node will say I don't accept
your block it doesn't respect the rules right what happens if we have like an
etherium for companies that are running notes you have in fury'
you got consensus you got parity and you get the theorem foundation these are for
companies that are running notes for ninety thirty five percent of the
network which is B caches goal while you reach it which is the B cache has a
centralized planning when talking about be cash we can talk
about an organization I talked about Bitcoin talk about a spontaneously
emerging selling point but in the case of be cash like this is what they
specifically say they want they want to run you know 100 terabyte nodes in data
centers and of course that's perfect because if you are a minor and you're
trying to change the rules of the blocks that you're mining in order to make more
money and the only people you need to convince are the people in that hotel
room in Hong Kong that you're inviting to to do your like your summit you know
they're like with your companies so like the value the fact that Bitcoin is
scarce and has is sound money is pre dependent upon the idea that people are
running notes and validating the rules so I mean you can't have it you know you
can't have it both ways and you know when you say that we want to do this
with Bitcoin we wanted to do that big corner Bitcoin has a sales pitch pick
one doesn't have a sales pitch Bitcoin just is and that is enough and if we
want ourselves to if you want to take your time to make your bitcoins worth
more and if you want to take your time to do something like you know increase
adoption for any purpose and that's perfectly fine but it's not a
requirement like Bitcoin doesn't need like mass adoption right now to work I
mean if we need if if mass deduction comes it's going to be because there is
an overwhelming demand for it imagine currencies our network effects
like languages switching from US dollar to Bitcoin is really really really hard
it's not like switching from Facebook to MySpace it's not like switching from
Chrome to Firefox and not like switching from Android to iPhone like switching
from a currency to another implies huge transaction costs and you can lose all
your money like it's the strongest network effect in the world because if
you choose the wrong Network it's not like if you're betting on bettah max
versus VHS you know you're not gonna lose much if you're betting on the ad
versus a bitcoin you're actually moving your wealth from one place to another
you risk to die you risk your currency being worth zero and not being able to
feed yourself and feed your kids so when people moved from one currency to
another it needs to be an overwhelming advantage to it and the overwhelming
advantage to it is just to keep my wealth preserve my own wealth people are
not going to opt into this really complicated decentralized thing just
because it's marginally in their app to like pay a friend like
payment apps in Asia payment apps in the Caribbean that I've used when I went
there they're fantastic they're used they use yeah money if some of them even
used USD you click up you click something on your phone and the merchant
instantly sees that he's received the money
this is fiha this is like a payment app it's like fantastic you know have you
ever used that like a Google watch and pay tap and pay and like have the money
credit like this is fantastic you X like Bitcoin doesn't compete on uxe the u.s.
is the same for for everything the court competes on fundamentals you know and
the only reason why like bitcoin is not like 99 percent of the of the market is
because the competition between currencies right now is between
speculators like no one's actually using any of these currencies the only use
case for Bitcoin which is widespread right now is store value and the second
use case of Bitcoin which is rice bread is censorship resistant transactions
like this is like you know people don't use Bitcoin because it's the more
convenient to pay online people pay online with Bitcoin because they have a
stash of bitcoins which to use that as their store of wealth and periodically
they will exit their position and Bitcoin and instead of selling for for
Fiat they will they will you know buy stuff online like can you imagine how
difficult it is to like buy bitcoins expensive thing online like the entire
cost of that is like 7% like what are you gonna do you gonna be one point base
you can buy it send it to your wallet and then you know there's volatility
there's transaction fees you need to do a bank transfer there to get the
bitcoins first so you actually you need to use the bank system to get the big
one in the first place or use cash an ATM and get 5% and then you take that
you know in the meanwhile the value fluctuates and then you pay online with
it and then you know that payment online is like pretty neat you know it's cool
it's like ways like 10 centuries actually fee but then how did you get
the Bitcoin you bought them on coinbase you paid like three percent or you buy
them at the ATM you put you bait seven percent the value fluctuated so I mean
it's it's useless to try to feel like I'm not I don't decide what Bitcoin does
you know I decide what I do and I'm just trying to give advice to people if you
really want Bitcoin to be like super successful like to things like focus on
the base layer because that's the core value proposition of Bitcoin like stop
trying to find use cases for Bitcoin URI has one right that use case is not
popular with the mainstream big deal right big deal we can't change Bitcoin
to be anything we want it is one thing it does one thing and if that one thing
people don't want it and we just need to wait till people want it and what is
that one thing that sound money right people don't want to sound money right
now they want easy money right people love easy money people love when
their governments create money and and inflate the currency and keep the
interest stories really low because now they can borrow and spend and stand and
stand people love easy money this is well
worth money yet they will make money's worth nothing this is the reason why
Bitcoin has such a struggle to gain mainstream adoption because every time
the issue of Bitcoin comes up it's always a battle between the Bitcoin core
guys and the Bitcoin cash guys it is it never goes into a debate on how it
benefits people it's always a debate on which one's the better Bitcoin you know
and then this is this is what this confusion is you're having this
confusion is what's killing bitcoins adoption
we just got an in-depth discussion about how Bitcoin is used by people like it's
not a matter of bitcoins in Bitcoin cash it's just an example it's always like
whenever you Bitcoin nowadays people I have to take aside like I gotta take
this side or I gotta take this side there was a time when everyone that was
in Bitcoin was on a unified front boating educating the public and getting
the people to understand the benefits of Bitcoin the reason why we have such a
struggle with this adoption is because every time that the topic of Bitcoin
comes up it's it's always a battle between two political parties in the
Bitcoin world one is like no it's not there is when you until this is resolved
all broadcast message of how Bitcoin can and and in the blockchain and the
cryptocurrency technology can help everyone there's always gonna be
impossible to do that because bitcoin is not Bitcoin is is a protocol like it
doesn't do anything it's just math people do whatever they want with it
like there's no there's never been a unified message by like
Bitcoin for six years like there's never been a unified message even back in the
day when Roger was going around telling
everyone that bitcoin is free and fasts we were telling Rogers stop saying that
bitcoin is not free and fast there's a reason why blogs for ten minutes do you
know why I blog for ten minutes this so she decided to do that it's not because
you didn't know how long was gonna take for the data to propagate around the
world so he had he said an arbitrary time hoping that would be enough time
for this until you know what the scientific literature has showed is that
ten minute retroactive Lee was pretty much the perfect perfect time like
Satoshi absolutely nailed it because of the latency in the network you want the
blogs to propagate so that everybody can validate it and that's why that's what
bitcoin is the reason why bitcoin like that's that's that's beside you know you
can validate the transactions you know but there's still a small number of
people and I want to get into the technical argument about it all I'm
saying is that you know that the reason why we have this this there's lack of
adoption that everybody's hoping for in Bitcoin is because there's always this
political fighting of people taking sides and there's not a clear message
and this can nothing kills adoption but Bitcoin faster than confusion it's like
like I would like you to go deeper than
that so so adoption and and like people on
Twitter like fighting you if you did you tell something here here's several
points of adoption here you take something that's you I said before I
used to be able to sit down everybody that I talked to about Bitcoin the first
element is open up their phone download coinbase
or bread wallet and I'd send them some bitcoins right there on the spot and I'd
send it back and about a dozen times with them boom they understand right and
then there's a it was extremely difficult to do that right and it's
really hard when you send somebody something that they can't send it back
to you right so what's the benefit of this that's not even true that's not
true it's always been the same thing Bitcoin isn't shot dead no it's not been
okay explain what's different about big there
was a time when people had less than $10 with the bitcoins had a trapped and they
couldn't even send it and why was that what was that because the transaction
was significantly more than what they had in the balance in their account and
why is that time 2460 should know why you know that but you know why that is
why you're asking me what's confusion okay so that's one can point right
another oh no I asked you I asked you the mechanics between you say that the
reason why there's no adoption is because of the infighting I want to
understand this option is affected by twitter fights but the infighting in
Bitcoin comes from that the lack of a process where everyone can come to a
final decision on how we're talking about option like the relation option
what I've been saying all along for the past few years is that there's confusion
when people enter the Bitcoin space for the first time everything is confusing
from the time you download the wallet to the time that you send the transactions
okay so the time you try to install a node and you find that it takes a while
to download the entire Bitcoin core node okay and then once you install it you
know they're talking about validating the transactions and you find out that
all these things are very confusing it's not a user-friendly process and
instead of sitting here and both sides or you know individual Bitcoin users and
people influencers fighting on which one is the better Bitcoin if there was a way
to unify everyone so that we broadcast a clear message make the software so it's
freaking stupid easy for people to use that's how we get adoption that's how
you don't know you're a technical person you're a technical person so you're an
experienced Bitcoin user and you're sitting there chuckling and laughing as
if hahaha you're all fucking smart and shit the
average person that gets us to this point is not that freaking it's not that
easy for them to use but you're just making these these logical and and go
and try to pound the streets and educate people and get people to use it and see
for yourself how difficult and confusing it is for comply you know break invented
the Bitcoin airdrop like you know the BIC or an airdrop where you like give
people to people like we did the first one I've done that all my life like I
actually know what users want with Bitcoin okay see the process yeah in
2015 did you hear about how using it is for a beginner to start using Bitcoin
die and when somebody picks it up I
don't know I don't know if you actually interact with Bitcoin you like I don't
have a Bitcoin company yet users or anything but like I'll give you an
example of how Bitcoin is actually easy to use and it's not the usability of the
apps that's the problem with adoption so in 2015 back page it's like Craigslist
it's like a site where people advertise all sorts of goods and services in the
marketplace back page was known for its adult section which you know people
would you know put adult ads on that page and then back page got shut down by
Visa MasterCard PayPal and all these payment methods and only accepted
Bitcoin and from one day to the next you have like a half thousand sexual
interest in sex industry you know workers that are using that page to pay
raise their sex ads that now have to use Bitcoin and only Bitcoin to do their ads
you know what happened they all switched to bread wallets and they all went to
Bitcoin ATMs and we did these little guides and it was super easy and they
were super happy they thought it was so fun the red wallet app they would you
know put 20 bucks in the machine and then they would you know just lift up
their phone like this and they have little guides and it was send receive
they send it to back page and then it takes like you know back page sees that
the unconfirmed transaction right away OOP you know every merchant does that
when you set up a firm transaction you say Boop thank you for your order and
then you know you see your balance and then you can only spend the balance it's
there but you can only spend it most of the time when there's like one
confirmation which takes like 20 30 minutes it's not
hard people can do it and why do people and and why would these users able to do
it because they actually wanted the coin they needed Bitcoin there was a demand
there was a real demand for it and the demand for Bitcoin was that their
website their service had been censored by financial institutions that's what
caused the demand for Bitcoin and even if the U X was subpar it's actually not
hard to click bread's to click receive and to click send and to click backup
it's it's it's not hard and the payments are well they're good and there was like
fees the fees the fees spike went like this and you know why there was these is
because people were slam expanding the blockchain we know that we tracked them
we even tracked the spammers of the blood stain to a quadriga account in
Canada like it is a known fact that there was a sim transaction so the net
where that's their business
well I can send you an article I can send you a link explain it to you if I
was spammed the entire Bitcoin network with a billion spam transactions that's
my freakin business it's a thank you thankfully sit there and say that it's
just it's a censorship resistant network and you turn around say hey man you're
not allowed to send any spam transactions it's an open network I
didn't say that tight you're using what a strong argument is when it's when you
you say that someone said something and you argue against what you say someone
said but somebody said I never said anybody was not allowed to do anything
I'm just explaining why there was fees and the fees have nothing to do with the
way Bitcoin works at that time it was spam and you know what you're totally
correct in order to have a censorship resistant decentralized network it
doesn't matter what I want and thankfully we have what's called a free
market which is what Satoshi invented Satoshi invented the concept of the free
market because the concept was how can prevent people from spamming Bitcoin and
filling the blocks without having a centralized party oh well we'll just
price the space in the blocks we'll just put a price on it
that's that's you know so you can't argue against the fees then in art since
I don't like transmit I don't like spam transactions myself
okay but it really shouldn't matter if it's a censorship resistant fungible
Network that's neutral anybody should send you know what if there's somebody
doing scientific research and they need to send a few trillion transactions
through there one said oh shit it's their business
yeah they may pay for it the transaction should go through who are you and tell
them hey you can't send spam transactions that storm I never give in
again I didn't say that but what I wouldn't go
back you know what I want to go back to is the the key thing here is that you
know when Adam was bringing up about the coin desk article about the killer app
about the adoption you know I'm still convinced as long as there's still this
infighting between Bitcoin core guys and Bitcoin carriage guys I'm a traitor I'm
neutral I don't give a crap which one of them wins okay but I do know this is
that nothing kills adoption faster than confusion when somebody comes in and
they're listen to you and you're like hey man you know Bitcoin core is a real
Bitcoin and then you got Lorien over there you know Bitcoin cash is the world
you know yeah yeah it's that create confusion and there's also little
Bitcoin and Bitcoin knots there's all sorts of bitcoins there there's a
further Bitcoin just to differentiate between which ones which man like okay
it's missing like coming out no don't try to nitpick what I'm trying to say
man I'm not in there picking what you saying man you know argument and debate
here man jump in a nitpick every little damn
thing man let's get the knowledge presenting what I'm saying you're
misrepresenting what I'm saying so so let me this excuse me why do people
learn English like English people are rude they they invade other countries
you know that America and people are bad people and British people live colonized
there's all sorts of you know English fighting and English language
problem learning is make movies because they got stuff that's better and other
countries want to do it so they need to learn it simple and we have somebody
that something better way they conquer your country or not you know there's the
America try to conquer Vietnam for 30 years and failed we still try to learn
English here when somebody does something better you try to replicate it
and clone it and copy it so it's totally correct you know what when you're when
when the Europeans came in and try to conquer Japan they were using swords in
the Europeans were using firearms and they said you know what we got our ass
kicked let's start using firearms and they industrialize so I mean what's
wrong with that you know but then I think when I give on a tangent with all
this stuff man it comes back to what the initial thing is you know if there was a
way where you and I Lorien bitcoinmeister right pound that like
button guys right even if you hate me you know the more you hate me
the more you should pound that like button okay you're gonna get it straight
from me you're gonna get know a bunch of crap for me when you hear what I say is
what's on my mind if there's a way that you and I Francis you know one thing you
know if I see you in person no matter how much we debate online I'll still go
by you offer you a beer or something when I see you know the reason why is
because I know you are trying to do the same thing that I'm doing you're trying
to get Bitcoin adopted by the world you're trying to introduce the world to
a better form of currency that's gonna free up a lot of people I know that you
know I might have difference of opinions bitcoin meister and i might have
differences of opinions of which one's the better bitcoin or whatever you know
but at the end of the day I still respect the fact that you guys are
trying to do a better thing for the the general population that's why I still
come on to a bitcoinmeister show every time he asked me you know but wouldn't
it be great if all four of us were on the same page broadcasting the same
message and the software was easy to use imagine the world that we would have
with crypto if that was the case instead of us sitting here fighting with each
other we could be educating the public about how they can benefit and
the Bitcoin technology and how it can eliminate a lot of censorship how I can
you know allow a lot of people to do the things that they couldn't do before
right in Vietnam right now no one can send money out yeah I mean what do you
think it would do to 92 million people right if they didn't have the ability to
send money out to other people around the world like you and Ann in front like
you and and bitcoinmeister and Maureen can do I no one's allowed to send money
out of this country with atmosphere you should be focusing on
we shouldn't be focused on fighting each other to see who's got the bigger penis
you know Bitcoin for Bitcoin cash man that's not what we should be fighting
about we should be on a unified front as a community fighting so that the people
like the people are the ninety two million people in Vietnam who are unable
to send money to someone - why aren't they allowed to send money to another
country like America the Vietnamese the Vietnamese government is censoring is
not allowing this is what Zimbabwe - they're not allowing traditional bank
money to get out of the country so the other option people are forced into is
Bitcoin so Francis and I think that is a tremendous a huge benefit of Bitcoin so
the Bitcoin could you but then we have people that are working I think it's
very important for people to use cryptocurrency now like Lorien so I mean
that that's that that's the conflict here is that the you know the Frances
supports this base like he thinks the base layer is uncomplicated and in debt
to help people send their money out of countries send their value out of
countries and Lorien is talking about is working on adoption and you keep you
keep on saying we got to increase adoption we got to increase adoption we
got increased adoption but not everybody is I think everybody would like adoption
to increase but that's not that's not my big priority I know that is is is not
it's not adoption everybody and their mother using it every day for me it's
for people to be able to use it when they really need it so it can't lose
their wealth anymore so they can send their money out of the country their
value out of the country when the government's put restrictions on so I
these two desires they're not clashing desires and just which one should be
focused on more which one is more important should we really how much
should we worry about adoption you think it's very important to worry about
adoption Lauren thinks it's you know very important to worried about adoption
and that's what this whole discussion today has has definitely been about and
I think it's uh it obviously it's it's it's a discussion
that it will continue to go on and on and on and we'll see how we'll see how
it works in the long run here so I wanted to tie all that up right now
because I know first of all Francis you you had to go
like a while ago I think so uh Thank You Francis you can get out of here now if
you want to and we'll continue though we will continue the show because I'm sure
laureen's got some other things too Francis you wanna say bye real quick or
anything good Francis you're muted there you go I knew I knew yeah the people
that are having the meeting I'm watching the show right now so they came in and
like go on go on don't stop um so yeah sorry no
definitely like I'll buy you a beer you'll buy me the second beer the first
round the second round for sure I mean this is this this is just an educational
philosophical discussion that we're having it's definitely nothing personal
and I'm friends with most people in the Bitcoin industry but you know my point
is just that people like when they they underestimate how fragile Bitcoin still
is right now like bitcoin is a nascent system and you cannot build anything
secure scalable private you know censorship resistance on top of
something that is not scalable secure private and sensitive resistant like you
can any layer you build on top any app you build on top any service you build
on top is gonna be dependent on that that base that base layer so um you know
what's the point of getting Bitcoin adopted if it doesn't work what's the
point of getting Bitcoin adopted if it's not censorship resistant you know and
there's no there's no trade-off between the two it's not big one doesn't become
worse the more it gets adopted it's just a matter of people putting their focus
and energy somewhere my belief is that Bitcoin would sell itself and that you
know salespeople are great and education is
is good but that ultimately the demand for Bitcoin can be generated like it's
gonna happen on its own and realistically if if the a currencies
don't fail if you know if the Americans governments I'm against central bank's
you know central banks are usually government-owned but I'm not against
central bank government's per se I'm against government money by the central
banks so you know if the central banking system doesn't fail then bitcoin has no
use case right Bitcoin is a hedge is a Bitcoin is a life raft you know it's
like the life raft on the Titanic is only useful if the Titanic
you know sinks if the Titanic doesn't sink then the life raft is obviously
useless so that's that's the point and you know just my last point is you know
it's I'm not going on a tangent when I'm talking about English and you made a
really good point which is that even though the Vietnamese were invaded by
English speakers they now speak English it is because the utility of the network
effect of speaking English and the opportunities of being in a network with
other English speakers is far far far superior a far superior to any kind of
perceived you know cultural you know problem with with the English language
so same thing with Bitcoin like if someone doesn't adopt their coin because
he doesn't he thinks it's you know people are frustrating and it to me it
makes no sense like people will adopt it they act the everyday person will adopt
Bitcoin when their life depends on it I mean this is this is how currencies move
it's usually it's usually a hyper a hyperinflation phase where people switch
they switch because they don't have a choice anymore people don't care about
the experience of paying with Bitcoin and thing with yet is functionally
similar functionally the same for most things so you know it's all about the
network effect and it's all about you know people will move to Bitcoin if it
works and if it is a real sustainable hedge against fiat and that that's it
and you know promoting Bitcoin adoption at the merchant level right now I think
might be misplaced for adoption advocates I would say
promote the adoption of Bitcoin for income I don't I don't want you BIR to
accept the coin like I can already buy goober coupons with
with the coin I can buy an uber gift cart with the coin and it's it's
functionally the same like I pay with Bitcoin and I enter like the the the the
the the gift card in my ubirr app and you know I can pay what I want to seize
I want to see you bur paying out the drivers in Bitcoin that's what I want to
see I want it I want to see the drivers that are in censored jurisdictions in
some places doing ubirr is illegal or it's unregulated or you know they look
at your PayPal account and this sees your taxes there and they you know your
income is all reported through the app and stuff I want to be you were paying
out in Bitcoin that's the option that I want to see because once the once the
drivers have the money coming in once the people have the money bitcoins
coming in they will spend it out people are not gonna spend Bitcoin if they if
they just buy it because buying a Bitcoin and spending it is more
expensive than than any other system and it's slower than any other system
because when you buy Bitcoin to spend it you are using via transfers also and
Bitcoin so it's like twice as bad for payments if you have to buy the coin and
then spend it so focus your energies on on people earning the coins rather than
people spending big words that's that's my two cents I gotta go guys and Adam as
well thanks All Right see you Francis alright Lauren Lauren Lauren hasn't
spoken for a while Lauren Lauren please please yeah well I I guess you know ty I
totally agree with you it's such a pain there being so much confusion and that's
is a huge problem with the adoption but actually I think it's going to come down
to the products and and are we going to now see the companies that are producing
the the user friendly products and those are going to be the ones that drive
which have a blockchain and at this moment it's very difficult to try and
create products on top of the Lightning Network and so this is going to be a
product game but but I also have to go my of my battery's about to die but I
want to you say this is st. B right over here we
bout to have a Bitcoin cash meetup so please download st. P if you haven't
already it's the world's most user-friendly Wallace and I'm sure
you'll love it and look it and if you tweet your
receive address with the same p1 let's I'll send you some Bitcoin cash how
about that at the right measuring on yes good to see you're my
friend Lori and have fun down there in Johannesburg all right all right now
it's it's it's just tie and I it's tie and I left here and I i will first of
all tie you are when you're on the show man you bring the pain baby you're
bringing you we don't know what's gonna happen with ties n is on here it turns
into a barroom brawl you know though what's and Zack sometimes some Curtis
asleep yeah oh yeah so everybody get dust liked I said palnet freaking like
button but I would have get tied some some more time to speak here because I
have a specific with two specific things first of all I want to thank our
rafterman for the super chat and also Josh for the super chat and he had a
question and now there's only one dude left so let's see if this one dude can
answer the question can Bitcoin be manipulated like the precious metals and
he's he's obviously referring to the the paper gold that's been created and you
know why you know why gold has never gone to the moon um I believe that from
for my traders perspective you know I believe Bitcoin has been manipulated
since the beginning and it's being manipulated I think by the exchanges
doing fake volume I think that's the number one I don't know what you call it
fraud that that I think a lot of the exchanges are doing is that they're
creating fake volume where they're they're churning the you know they're
they're buying and selling bitcoins within their own accounts or within
dummy accounts or fake accounts to to create the illusion there's a lot of
volume at their exchange so everybody comes
over there I think that that's that's how I think that bitcoin is being
manipulated but as far as like you know institutions coming in and buying large
amounts of Bitcoin for their hedge funds or or for their just funds or whatever
it is that they're doing for their investments I think that's normal I mean
I don't consider that a manipulation what I consider
manipulation is when the fake volume that is being created by the exchanges
that's what I think is a that's what I would consider the the the the the
manipulation now I've got I've got another related type of question
actually Francis alluded to Fiat coins a few times and he meant stable coins so
this stable coins have been just the rage it was like peak stable coin so I
just left the stable because I'm not a trader I'm like why are people even
playing around with this stuff value your wealth and bitcoin on the other
hand as you have said multiple times will show you are a traitor you're in it
you have to make money what is your take on all these stable coins is this is my
take is that we've been you know telling people not to mess with them since
tether was around 21 million market cap you know the reason why is that for
those who don't know what a stable coin is it supposed to be a coin that's
backed by a equivalent fiat currency so for example like us CT that tether if it
has a billion dollar market cap it's supposed to be backed by a billion
dollars worth of US dollars the problem the reason why we told people not to
mess with it is because we don't have any evidence that those coins are being
backed up like you know if at the time that we said this it was a tether was
around 21 million market cap at that time and it has nothing to do with
bitcoins a supply a number of supply supply it just so happens that the
market cap was that around 21 million dollars at that time has nothing to do
with the supply a Bitcoin okay and we've been telling people not to mess with it
simply because we don't have any evidence if the Hong Kong banks or
whoever it is that's supposedly backing it up actually has the u.s. dollars to
back it up now that's tethered so what do you think about the number ones
though the new ones the reality is this it doesn't matter what my personal
opinions are about these stable coins the reality is the market wants it okay
so even though we tell people to stay away from it
the reality is the market wants it and the market wants these stable coins for
several reasons one is that for a lot of people the stable coins are a lot more
stable than the currency that they're that they are they're their home country
currency so for them it's it's worth while in the
past there was a lot of Western people traders and investors that would
exchange their Bitcoin or their cryptocurrency into a stable coin such
as tether for tax reasons however from my limited understanding of tax and
accounting in the US they did away with that policy you know in the beginning of
2018 so if you're a westerner or you're an American there may not be those tax
advantages that was that people previously said there were okay so I
personally do not mess with the stable coins myself because there is no
evidence I have no evidence and no way to verify that those those coins are
actually backed up by real dollars now however Gemini recently announced that
they release a stable coin and then claim base did the same thing I would
say that if you do have to use a stable coin I would use a I don't know how you
call it an american-made stable coin such as Gemini or coinbase what you mean
is that it's it's an American regulated I mean that that's your pure Basinger
trust in these no because they are the most highly regulated ones basically no
so Gemini Gemini is approved by is being regulated by not only the SEC but
they're regulated by the New York financial Authority conduct or whatever
the wide and why think whatever it is and they're very strict you know so
they're not gonna be able to Jack around so they have to follow those policies in
New York City and then they also have to follow the SEC claim base when they
release their stable coin keep in mind that coin base received 75 million
dollars back in the days from the New York Stock Exchange which is the
granddaddy of all exchanges in the world okay so there you can basically say
Corran quote they were there owned by the New York Stock Exchange or they're
heavily influenced by the New York Stock Exchange so the fact that they're gonna
release a stable coin lets us know that at least they got the I guess you can
say the blessings or the support of the New York Stock Exchange so if you have
to mess with a stable coin it's I'm not making a recommendation but I would tend
to think that it's safer to mess with one that is being that is being
scrutinized by US regulators since they are the most strict financial regulators
on the planet at the moment okay good interesting take on on the stable coins
now I want to ask you about the Vietnamese uh fake news you said you had
insight you that you won that and this is important but he's only rounded this
is important you know because I actually made a video about it and I have no clue
where it's at so one of these days so you guys are getting exclusive here on
the bitcoinmeister show right here and whenever I find the video that I shot
about this topic uploaded to my channel at a cryptocurrency market okay
cryptocurrency market so a while back a lot so we have this echo chamber well
one of the reasons why I thought if you guys want to know why I listen to
Bitcoin Meister here is you got all these idiot echo chambers okay and for
some of you guys that's not from the US okay an echo chamber means that one
knucklehead say something and all the other broadcasters say repeat the same
damn thing they don't even have their opinion okay they don't even have their
opinion of what they're even saying they're just saying what other people
are saying right like on our channel sometimes we don't broadcast anything
because we ain't got nothing to say we broadcast something's cuz we got
something to say so one reason why I listen to Bitcoin my sir is that he
actually shares his opinion on what the news or the event the public events
that's going on okay so there was a time when everybody was saying that you know
Vietnam was banning crypto currencies right and that's not
and I'm basing I'm sharing my information with you guys after speaking
with multiple lawyers licensed attorneys in Vietnam and the information I got is
that cryptocurrencies Bitcoin and cryptocurrencies are not banned in
Vietnam the word banned in the word not recognized right you know in Vietnamese
is called a counting company I mean cum means no and champion means accepted
that means it's not accepted and it's not recognized and when it's not
accepted or recognized it doesn't mean it's being ban or it's not illegal it's
not recognized as an official like as a asset class so because of that if
someone messes with deals with investing buys or sells Bitcoin or crypto
currencies if you lose money don't come crying to the government the Vietnamese
government because you're not gonna be able to go litigate if I buy some
bitcoins from you and it turns out to be fake bitcoins or I give you some
Vietnamese dong the currency here it's called the Vietnamese dong if I give you
some Vietnamese dong and you don't give me the bitcoins I cannot go and sue you
in court and I cannot litigate with you in court to get my money back simply
because it's not a recognised asset class in Vietnam
so they're basically issuing a what would you call a warning a guideline
that did you mess with crypto currencies we're not gonna be there to give you
what you call that consumer protection
so do that your own risk right and what the lawyers are telling
me is that from from their understanding is that the Vietnamese government is
taking a wait-and-see approach we have a one-party system over here in Vietnam we
don't have a multiple party system like we do in the US so if they decide they
want to make crypto currencies legal or not legal they can issue a decree or an
order and put it into effect immediately the next day they don't need to sit
there and wait around okay so that's the understand that I have there's a huge
difference between not recognizing something versus that thing being in
I just wanted to share that with your audience okay so whenever they hear that
you know that's and as you said that's why I get people on the ground in these
locations because you're you know once a popular story comes out everybody's
saying the same thing and they don't even have a person on the ground in that
country it's a singer you hear things about Zimbabwe eight that are third hand
you hear things about Vietnam that are thirty this is a here's a first-hand
account people just judge it for yourself right there yeah I want your
audience to understand I'm not repeating what I heard from other traders or other
investors or other bitcoiners I'm hearing this from lawyers that I had you
know you know it cost me to talk to them you know and he's in Vietnam also also I
I taught to you know just look for just a double-check to fact-check what I'm
hearing you know I'm talking to lawyers in Ho Chi Minh City which is the biggest
city is over nine million people in southern Vietnam Saigon man yeah
originally called Saigon then I went to Danang which is probably which has
probably the most beautiful beach in the world in my opinion and I've been to a
lot of beaches in America and this made the water is so damn clean and and warm
it's unbelievable you have got to come to Danang vietnam and swim in the waters
man is unbelievably beautiful I mean it's I hate to say that Vietnam does not
do a good enough job of promoting their natural beaches man it is ungodly
beautiful okay anyway in Danang I talked to some lawyers and amazingly enough
they said the exact same thing about crypto but it's not banned it's just not
recognized as an asset class so hence when when the American or the Western
news outlets were reporting that the banks were not allowed you know they've
been banned from touching a Bitcoin and crypto currencies that's not true banks
cannot touch it because it's not a recognized asset class so when something
is not a recognized asset class in Vietnam right the financial
institutions are not going to mess with it because that's a huge liability for
them because if something goes wrong they cannot go to court and litigate
over it and so there's no consumer protection so they're not gonna mess
with it until the government recognizes it as an asset class or or something or
the laws change in Vietnam all right that's what I wanted to share with Mary
he said that is a good good conclusionary on the ground remark there
this has been a very long this week and big coin show people I thank all my
guests for being on and I thank ty for sticking around it's really late at
night where he what's getting late at night out there I think it's almost 1:00
in the morning or something so thank you very much Tizen thank you Laurie Ann
Thank You Francis everybody take a moment subscribe to gentle pound that
like button remember this is every Friday is this weekend Bitcoin you never
know what's gonna happen happen check out the archives at Tech ball comm tch
BLT that's also my Twitter handle you can see the other times that Laurie and
Francis and entire been on the show they've never been on together but you
know you can check that out disrupt my should I come on all my old
videos remember I post a new video here every single day I'll be back tomorrow
night for the beyond Bitcoin show so adam meister the bitcoinmeister the
disrupt meister Tyson's got one final comment yes
yeah just quick mention Midtown thanks for the super chapter to support big
claim monsters Channel and yeah and he said that oh thanks to Zach Bandera to
force apparently supporting the broadcast guys that's really great of
you guys uh actually now asked a really good question he said that I heard it
was illegal from merchants and Vietnam accept Bitcoin like like I said the
lawyers told me that it's not banned or it's not illegal it's just that if you
use Bitcoin or you deal with it is you're doing at your own risk don't come
crying to the government if something goes wrong and that's what they're
saying you know and and kkona Chuck said do I have a girlfriend Vietnam no I
don't have a girlfriend Colonel proceed with caution one one
last thing Adam there's a lot of fake bitcoiners and fake crypto people out
there there all quiet and they're all hush-hush
because we're in a bear market markets going sideways markets drop 75% from
all-time highs as a trader I just want to share with everybody this is when as
a trader for an investor after the market crashed a 75% in my opinion this
is when I would personally buy on that and licensed financial advisor okay but
I just want to let people know that there's a lot of fake bitcoiners out
there that are telling people to sell theirs telling people all kinds of
stupid nonsense as a trader and as an investor as a long-term holder yeah okay
I am looking to accumulate as many bitcoins as I can while the price is low
after its dropped 75% I am NOT looking to sell I'm not looking a short Bitcoin
shorting Bitcoin is the absolute craziest thing to do
okay because this thing's sky rockets to the moon next month next year the next
20 20 having or something you are going to be in a world of hurt and just a last
reminder like I always say I'm Bitcoin miners show if you are not a
professional trader do not all of a sudden go out there and try to trade
this stuff do like bitcoinmeister strong hand gold and hold okay do Matt all of a
sudden if you're a doctor you're a lawyer you're a professional you know
you have other professions don't all of a sudden run into Bitcoin and out of
nowhere become a trader okay because you will get slaughtered
okay gold and hold and pound that like button okay thanks for having me on your
show bro ignore the crypto noise basically yeah you say no or that
Krypton noise and again I do I do want to thank Jack Pantera everybody have a
strong hand shabbat shalom i will see you saturday night see if i
thanks everybody
-------------------------------------------
How much solar energy do I need? - Duration: 6:18.
Hello, I'm Amy from the altE Store.
My Spanish is very bad,
so I want to present Blanca.
Hi all! As Amy mentioned,
my name is Blanca and I belong to this lovely AltE Store family.
We are often asked how much solar energy we need to turn on our electronic equipment.
So we decided to make this video to help you understand it.
First of all we must understand the difference between a Watt and a Watt-hour.
While Watts and Watts-hours are related terms, they are not the same thing.
So, what is a Watt?
A Watt (W) is a unit of power and the power is the rate at which the energy is produced or consumed.
Now, what is a Watt-hour?
A Watt-hour (Wh) is a unit of energy. It is a way to measure the amount of work generated or performed.
We can understand it better in the following example:
A car driving at a speed of 100km / h in 2 hours, would travel 200km away.
A device that consumes 100Watts in 2 hours, would use 200Watts-hours of energy.
Next I show you a picture with the main devices that we would use in a photovoltaic system in our home.
Take note of the equipment you would use at home and add the Watt-hours of each device present in the previous table
This way you will get the total of Watt hours needed for your solar energy system.
It is important to note that everything that produces heat or cold needs a lot of energy.
For example: If we want to light the following electronic devices:
6 Led lights 1 Fan 2 Cell Phones 1 laptop 1 Internet Router 1 Refrigerator
(Remember, the refrigerator is not consuming power 24 hours a day even if it is plugged in)
Then returning to the previous table, if we add each of the total of Whoras per device,
we obtain 2,226 Watts hours which would represent the energy that you need to produce.
It is important to mention that the energy you need will depend on where you live or where you are on the globe.
Find your location on the following map
and see what the average solar energy generated is based on your location.
For example, if we have a 100 Watts solar panel and use it in my home country, Venezuela,
we can make approximately 350Wh of solar energy per day.
Because we previously determined that we would need 2,226Whours of energy,
in that case if we divide this between 350Wh,
we would need 6.36 100W solar panels, or a solar array of at least 636 Watts of power.
Then, we can use 2 solar panels of 320Watts each.
Now that we know how much solar energy we need to turn on our devices for a day,
we ask ourselves the question: how can we store this energy when we do not have a bright sun?
This would require the use of deep cycle batteries.
It is important to note that we use batteries in off-grid photovoltaic systems
(to systems disconnected from the conventional electricity grid),
also in hybrid systems (or systems connected to the electrical network with backup batteries).
For every 100W of solar energy, we would need 1500 Watt hours of storage in the batteries.
This means that our system requires at least: 1,500Wh x 7 100W panels = 10,500 Wh
Therefore, if we use a 24Volt system, that would need a 438 Wh battery bank.
Let's see this battery for an example:
Using 4 batteries of this model we can obtain the Watt hours needed from the system.
If we connect these 4 batteries in 2 parallel strings of 2 batteries in series,
this would give us a battery bank configuration of 24V and 460Ah.
Please always remember that most photovoltaic systems require charge controllers, inverters, breakers,
and other components that are responsible for protecting and stabilizing the system.
We'll talk about them in our next videos.
Visit our videos in English and take into account that we will be doing other videos in Spanish.
Thanks for watching the videos on our website. Do not forget to check our website altestore.com
If you liked this video, give me a Like and subscribe to our channel.
See you later!
-------------------------------------------
How much of Monsanto's Roundup is safe to eat? - Duration: 3:51.
For more infomation >> How much of Monsanto's Roundup is safe to eat? - Duration: 3:51. -------------------------------------------
How much each Premier League club earned from Champions League revealed - Duration: 2:59.
Liverpool cashed in on their Champions League run to the final last season to earn more than any of their domestic rivals with a staggering £70 million
It will be a small consolation for the Reds, who suffered heartache in the final vs Real Madrid
But the money boosted their transfer kitty to splash out on Naby Keita, Fabinho, Alisson and others last summer
Manchester City edged out rivals Manchester United, pocketing £56m after making it to the last eight, compared to United's measly £35m, who fell at the last 16 hurdle
Whilst Chelsea failed to qualify for this season's competition, they still managed to land the second best after the Reds with £57m
The money is distributed from a pool, with a number of factors determining the final amount: the number of clubs from the association in the next season's competition, where each club finished last season in their respective domestic competition and how they performed in the European competition itself
The biggest winners were Roma, who Liverpool beat in the semi-finals, taking home £73m, and the champions Real Madrid, who topped the money list on £77m earned
Jurgen Klopp will be confident of returning to the final and earning a similar amount of money this term, with the big win over Red Star Belgrade taking them top of their group over Paris Saint-Germain and Napoli
The German was delighted to see Mohamed Salah strike a double, ending doubts over his form
"It's good that we can maybe stop talking about that a little bit," Klopp said. "I was not in doubt, he was not in doubt, but if you are constantly asked about it, you think something is up
"You should not think about it, you should not constantly think about how can I score again? It only happens if you work hard, if you are in the right spaces, if your team-mates see you in the right moments and if you make the right runs, then you can score
It is an exceptional number and hopefully he can continue."
-------------------------------------------
How Much Geese Haves Long Wings - Duration: 1:56.
So there's geese poop on the floor
You know how much geese has long legs and long necks?
But I wanna show you
How much geese haves long wings
There's a geese!
Let's go close to that guy
Hi
That guy has a broken wing
Geese!
This is geese poop
Look up! There's geese flying
They're going on the houses
and buildings to fly off
I call this a geese play structure
Geese honk when they're close to us
[honking sounds]
They eat stuff that looks like cheese
I don't know. Poop?
Geese poop?
Whoa. Those geese up there are flying very good
Geese fly underground
So it's better to flap their wings
and poop on fly
Whoa look at that guy that
that put his wings over his head
because it was cold
[geese honking]
What?
What did you say, geese?
What did you say, geese?
Hi. Thanks for watching about this geese story
When I say 'I say' you say 'you say'
I say
I say
-------------------------------------------
Just How Much Does The Crane Bend? Elasticity Test at the Arcade, Toreba Spectating - Duration: 4:17.
[Videogame music]
[music throughout, no speech]
Không có nhận xét nào:
Đăng nhận xét