The Bitcoin Group, the American Original, for over the last ten seconds, the sharpest satosis, the best bitcoins, the hardest cryptocurrency talk. We'd like to welcome Christoph Atlus from Anonymous Bitcoin Book. Good to be here, thanks for having me. Derek J. Freeman from BitcoinToxo.com Hey, how's it going tonight? Joining us now, Will Pangman from Bitcoin Milwaukee. Hi, everybody. Issue one, Bitcoin price declines following false report of a Bitcoin ban in China. A report last night on Chinese news site, Sino Weibo, led to a panic in the Bitcoin market. Bitcoin prices fell from 590 to 540 on the false news before recovering to 580. Derek J. Freeman, what's your opinion on this China false news? Well, I expect a lot of Bitcoin's price to be driven over the next year or so to be based on false news. You know, the internet drives traffic and information so quickly, redditors are pushing their news out. And it takes a little bit of time to see what's actually accurate and what news has been verified. But with Bitcoin markets so open and so accessible to anyone, they're extremely volatile, especially because they don't close. So yeah, I'm not surprised. The price is going to be moving for a long time on false reports. But the important thing is to keep in mind what long-term value Bitcoin holds. So I'm going to start off at this. Sorry, I was muted there for a second. So to quote a famous Bitcoin storyteller, we bow. No, I don't really see this as a particularly big deal. I was just sort of curious. So I did Google search for stock price plummets, fake news, or something like that. And I was reminded of last April when the AP had their Twitter account hacked. And someone falsely reported that there was an attack on the White House and the Dow Jones industrial average dropped by 150 points for a little while in the middle of the day. So this kind of thing happens in all markets. And the smaller the market is, the more vulnerable it is to these kind of pushes from fake news. I think that until the news sources are really severely punished by their listeners by losing credibility for reporting fake news, there's some very powerful financial incentive for them to leak this kind of false information because someone can use it to effectively scoop up some cheap coins and make a big profit on the rebound. So I think that we'll continue to see this kind of thing for a while until the market cap gets to the point where it's more resistant to this. But it goes to show that even very, very large markets are prone to these kind of temporary corrections due to false news. It's just something happens in markets. Well, Penguin. Yeah, the false journalism thing is interesting to me. But what's more interesting to me is that so much of the misinterpretation of news coming out of foreign sources is result of translation, the language gap. So one of the things that I'm seeing already, just as I've been participating as an employee in the Bitcoin space, as a freelancing, earning some money in Bitcoins for work, is so much collaboration happening across the globe. I would argue more so than we've ever seen, thanks to the way these new crypto monies work, they really allow for that. They've really unencumbered the process for doing so that is really fascinating. So I think what we're going to see, especially with medacoins and user-generated coins, even more so, is crowdfunded efforts to more properly translate news or have multilingual people be able to better disseminate news coming out of foreign sources, because it needs to come from there. That's one of the things that was so great in groundbreaking with Twitter. People started to use Twitter as their actual news feed, and they would get things instantaneously well ahead of the news media. That's why we see Twitter use so much more heavily by the news media than any other social platform, is because it's a great reporting tool. You can have the scoop and get it out quickly, instantly, almost. News media caught up with the people in that respect and jumped on for Twitter very early as well. You used to get information from the ground right away, and that's what we're going to need for as fast paced as the Bitcoin space in general is. You're going to need news from on the ground in Singapore, in China, in Japan, in Russia, in places that have non-latent alphabet languages. We're going to need multilingual people. We'll have more of them because there will be a demand for it. With this new money system and and and and and project coins and things that we're starting to see, a crowdsourcing of the ability to crowdsource the solutions for those demands. I'm really excited about that. We won't have at least we'll solve that mis-translation problem, and then we can probably have a much easier time tackling just false news that's coming out. I do agree, Will. This was very much a story that spread quickly through Twitter, and a lot of the confusion was perhaps due to this mis-translation problem, or even the ability of Westerners and other people to appropriately judge Chinese news sources. How are we to know if Sino Weibo is a respected news source, or if they're more like news week or more like a tabloid? Derek J, exit question. What's the price next week? I expect Bitcoin to continue trading in the current channels, and we'll see it in the 600 range. Kristoff. I think that seeing the pattern continue is reasonable. The only thing that I could expect to tilt the price is when the world catches on to the changes in Bitcoin version 0.9, where they have a tenth the minimum requirements for mining fees. I think that's a pretty powerful change, and it brings the minimum down to about something like 0.3 cents or something crazy like that. It doesn't mean that you're necessarily going to get your transaction through for a 0.3 cents, but it's the software minimum right now. I think that is a fundamental change in Bitcoin that should reflect a different valuation of Bitcoin's ability to move money. Well, Pagman. I think we're going to see a continuation of a pattern, but maybe not one that is obvious to folks who've been in the space for less than a year. If you zoom out, you've seen, following a major price run up, a correction of sorts, although still much above the previous high. It's sort of weaves its way around that range and then declines slowly before it hits floor, and then we see another major price run up. These run ups have been triggered by lots of different things, not just news events and arrests. They've just been triggered by, as Christophe pointed out, just some large group of people with some good amount of liquidity figure Bitcoin out and they get in. That large influx really shifts the price. Once that happens, people follow in droves and carry it up even higher than probably was reasonably predicted or whatever. We'll see the long cycle trend here. Maybe by next week, down another $10 or $20, just like we had this past week. I'm going to continue to be bullish. We're going back up $750. Issue 2. BTC China launches Litecoin trading thanks to the Lee Brothers. Brothers united, Litecoin and Bitcoin now available together on BTC China and with no fees. Regardless of negative rumors, Chinese Bitcoin media continues. Will it continue? Will other altcoins be next? I hope that there will be other altcoins that come next. I think the more the merrier. I'm not necessarily concerned that Litecoin is the best coin to sort of complement Bitcoin. I don't see that the technical fundamentals of Litecoin are necessarily complementary to Bitcoin that it makes some really important change to Bitcoin. That supports it so that if some mistake happens with Bitcoin, people can move on to Litecoin or some type of complementary technology. I don't necessarily see that in Litecoin. I hope that it moves on to other altcoins being traded for Fiat. Will, Penguin. Yeah, I'm excited by this. This is a major exchange. The volume that they could handle at their peak was impressive. It'll only take a short matter of time, I think, to get back there, especially adding features like trading other cryptocurrencies. There's this ongoing, I don't know if it's a struggle or taking of sides, really, when it comes to being exclusive to Bitcoin, let's say, or inclusive to altcoins in general. There's that divide or that side taking going on right now. This is just another sign to me. Of course, there are brothers, but there's plenty of exchanges. Some soon to come online based in the United States, in fact, who are definitely trading multiple cryptocurrencies, not just Bitcoin and Litecoin, but even some other alt currencies that people poo-poo quite a bit. Not just Dogecoin in that regard, but Potcoin and some of these others that are coming out. The exchanges in the US who are currently doing business with mostly overseas customers because of regulations are soon to open their doors to US customers. I don't know how soon, but soon they will. It'll become clear for them and the capital is there, obviously. There's lots of investment going into that. It's exciting. I think altcoins are here to stay. I wonder if I can move Litecoins into BTC China, trade them for Bitcoins and move them off. Do I need a bank account to make any kind of deposit? Because I've heard some things about some deposit troubles, even though they have Chinese bank accounts now facilitating deposits, I believe, at BTC China. I know there's some issue about international customers that I'm interested to know how that works out. Can I trade on there using just Bitcoin and Litecoin? See these altcoins, they really open the doors for arbitrage opportunities, of course, but even jurisdictional arbitrage. Derek, Jay, you're muted still, Si. Of course, Bitcoin Mania will continue in China. The Chinese don't have very many options for investment as people from other countries are familiar with and their population is mostly savers. Because of this, they're always looking for opportunities to park their money somewhere safe. That's why real estate has been a popular option for the Chinese population. But now, with the possibilities of cryptocurrency and trading and investment, the Mania is going to continue. I predict we'll see popular coins like Dogecoin, Nex, or Mastercoin coming to BTC China next. We're joined by Mr. Chris Ellis from Feathercoin. Do you have any thoughts on BTC China and Litecoin? First of all, I can't believe you didn't tell me about the Daylight Savings time. Spring, seriously. I've been at the Silicon Drink event tonight and sending love tweets to Andrea Santanopoulos. So look, I'm just reading about this thing with Litecoin. I kind of heard about it with my radar. I sort of feel a little bit of like nepotism is going on, right? Like a lot of these exchanges, they're just liquidity pools. They're just places where the people that have the funds want to get access to the information on the market. So apart from me, this feels like this is just like a marketing ploy. I still sort of feel like the whole thing that happened in November and December with a huge price wise was just kind of, I don't know, like a temporary kind of hype Mania. Because I was meeting somebody. I met somebody tonight at the Meetup event who told me that he works in Hong Kong. And he was saying that people in China just want to have some store of value that's independent of the Chinese government. They don't really care what it is. They just want it to be independent. It could be property. It could be Bitcoin. It could be whatever. So yeah, like part of me feels like this isn't meritorious. Sorry. Sorry. Come on. Like this isn't there isn't a lot of meritocracy here. A lot of these, a lot of the coins that I'm seeing like Massacoin and other coins that I feel do deserve to be supported aren't being supported. Does that make sense? And like, okay, so if you've got the right connections and your brother works at an exchange and it did some good PR recently and it reduced all the fees or whatever for a little while, it got some Mania. But then there are some other really good projects out there that aren't getting the necessary attention. It does seem like there's a strange divide between Bitcoin and Litecoin and the rest of the coins. I'm not sure why this is. I look to Litecoin and I say, what can I buy in Litecoin? Where can I set up a Litecoin? Exactly. Exactly. Where's the infrastructure and where's the passion and the care? Okay, fine, you can do some good PR every now and again, you can do some stuff and it gets very high. But then there's all these other coins that if you look at them, the price is very low because the market isn't necessarily reflective of the overall value. But then when you go deeper and you look at the people involved in the projects, it's like they're working really hard on the ground and they're providing real value. But just because you don't necessarily have the right connections or just because you don't know the right people, I just feel a sort of sense of disappointment really. Well, we're entering to a strange phase where the people that program the coins aren't necessarily the people that should be telling the world about the coins. Correct. Maybe some teams have good programmers, but they have great world tellers or they have okay programmers, but okay world, they need different combinations of these things to be successful. So exit question. What's the next altcoin to be added by BTC China? Well, the next media be Christoph Atlas. Maybe something like Dogecoin. I think that's a pretty populist coin at this point. I could see that happening. Will Pangman. Yeah, I got to say Dogecoin. That's the people's choice apparently. Derek J. Dogecoin. Not only is it, oh yeah, not only is it popular, it's got a slightly market cap. It's slightly higher market cap than its competition at $43 million. Chris J. Go on then, I love Doge. Everyone says Doge. All right, why not, I'm going to say name coin though. Why not? I thought we'd been reduced to five lights of code with Ethereum. Maybe that's what this should. That might be what the Ethereum people say. Do three. Free A Bitcoin stolen. FR33Aid.com, the Bitcoin charity that provided direct aid to the Philippines following the typhoon has been hit by a different typhoon. Hacker's. They emptied the accounts, taking all 23.5 Bitcoins. What did free Aid do wrong? What can organizations like free Aid do better? Will Pangman. Well, oh man, I saw this as soon as it was posted pretty much and it hit close to home. I have people I highly respect and admire who work at free Aid and have contributed to free Aid and it sucked to hear that. I don't know what they did wrong. I'm really interested to find out. I know they had their money in some blockchain.info wallets and I have several of those, a handful or so. I've taken all the necessary security precautions that I know how. I'm sure they did too. I'd like to know where the whole was there. What's going to be the early reports have been that FR33Aid's blockchain account was secure but that their email account wasn't secure. Hacker gained control of the email account which as everyone knows, you can reset passwords and unfortunately deactivate to a factor authentication. It's not that two factor failed. It was turned off through an email problem which could have been due to their password, their email of a variety of things. Remember, users at home, if you use Gmail, you can have two factor authentication on your Gmail. That's two factor on your bitcoins, two factor on your email, then your email and your bitcoins. Hopefully, God willing, cannot be taken over. Go ahead. Well, yeah, that's how I was looking for an update. I was, I think, two days ago I got the news and then yesterday I checked for an update and I didn't really quickly see one but I've been wondering if that was the case that their email was hacked because they didn't have it with, have an email account with two factor on their login credentials. Well, that explains it, I guess, what they did wrong. I'm feel so awful about it. I'm sure the community is going to band together and reconstitute them as best as we all can. I'm interested in that effort for sure. I guess that's an interesting point that I've done that with all of my blockchain wallets and anywhere it's necessary, put two factor on my email and I did that actually the day of the Silk Road bust. Right after I got the news, have these news alerts set up and people called me and texted me, of course, but that very moment, I got a bunch of emails about suspicious login attempts in a couple different places and it looked like it was masked where the actual attack was coming from because I got suspicious login attempts at all my Gmail accounts from different places that weren't suspiciously obvious. It looked like it was going, you know, it was being masked where they were, their location. Immediately at that point, there were 3d Gmail accounts out of the four that I used that didn't have two factor on them and I right away ensured that as I'm following the Silk Road developments and the flash crash that day. But yeah, it could have been bad. That could have been bad. It was like, you know, you see that when Mt. Cox bit the dust, there were some massive DDoS attacks across the internet, including, you know, maybe unrelated, but like even meetup.com. You know, so these highly trafficked Bitcoin community places had DDoS attacks and it's concurrent with a lot of these thefts. It's weird. You know, that's the way to do it. Well, if you get a bad feeling, a suspicious feeling, you move your coins, put your security on, do what you think is right, take the action that you need. Don't wait until it becomes worse. Derek J, your thoughts on FR338? You're still muted. Yeah, free aid is one of my favorite charities and their work has inspired me to get involved in direct action. Their email got hacked, so their two factor authentication was turned off, but there are some things that free aid could have done better and we can all learn from this unfortunate experience. Well, first, they could have used an alias that wasn't so easy to guess. They said that their alias was FR338, their name, basically. They weren't aware that this was one of the things that's used in resetting their two factor authentication. Secondly, they could have checked the box in the blockchain.info settings that disallows access from Tor exit nodes. The two IP addresses that were used to reset the two factor authentication were coming from Tor exit nodes. So that's just a quick tip if people are using blockchain.info while that's one thing that you can do that may improve your security. I'd like to see that feature turned on by default. Chris J, your thoughts. I actually, somebody tried to hack my blockchain.info account a little while ago and it was because of the alias thing and I didn't realize either. I said it to a like a vanity thing because that's what I thought it was supposed to be. So that might be an issue. I also know someone else who had some Bitcoin stolen recently due to a similar issue. I think I'm going to have a debate on this soon in April. I've organized an event on the 5th April through the London Bitcoin meetup about this issue and I've invited some people from Barclays and Lloyds and a few other mainstream banks because it sort of strikes me to look, so Toshis done a great job at securing the post-school. Right? We've locked that down but it doesn't protect you against human fallibility and just generally like bad key management. The fact is you can't legislate against human behavior. If any of you out there are fans of 24, the TV series 24. One of the great things about that show philosophically was that whilst the technology was super high tech, all of the plot twists revolved around humans making errors. The whole series was an essay on human fallibility. You had all of this like expertise, you had all of this security, but then people would screw up. And a part of me feels like Bitcoin, like I'm a huge Bitcoin advocate. Like everyone knows that. I've been into this for years, but apart of me recently with all these hacks is sort of feeling like we're still missing something. We're missing the social layer, the psychological layer. We're still missing that human element. I still don't know whether regular people are ready for this. The reason I say that is because I talked to people from the banking sector. I had a long conversation with a friend of mine earlier who's a raving, Keynesian economist. He's part of the mainstream banking system. I was talking to him and he said, look, we're both of our industries, both him from the banking sector and me, you know, from the geek side with Bitcoin, we're both competing for consumers. On the one hand, you've got the banks and they've lost credibility, especially since 2008, and they're trying to win the credibility that they had, which was largely a throwback to the 50s and 60s with your local banker in your town or your village where you used to go and get a loan from. They've lost that credibility and then you've got Bitcoin, which is entirely new system, which is trying to get credibility from the ground up like it's never existed. My friend was saying, look, apart from me feels like your Bitcoin software has got some great ideas in it, but I can kind of integrate a lot of these open source code into my existing infrastructure. This isn't so much about Bitcoin as an independent currency as much as the banking system picking itself up after 2008 and taking some of the ideas from what you've got in your code and integrating it into the existing financial system. There was something about what he was saying that kind of like, I don't know, I'm a defender of truth, right? If somebody says something to me that just cuts and just feels right, so that's got me thinking over the last few days. Like apart from me feels like these banks, you know, he was talking about the insurance industry, he was talking about the fact that you can reverse a lot of the transactions, you've got to quickly support, you've got to ping it transaction. Why don't we just put the Bitcoin protocol into the existing infrastructure? And whilst I don't agree with it, like logically, apart of me feels like we should investigate it a bit more. I think the simple answer is that we're open to the competition. If the banks want to come out with a coin, similar to Bitcoin, bring it on. I mean, I don't think we have anything to fear from them. I believe they could, they do have a strong position. I forget we were talking about someone had an advantage because they had so many brick and mortar stores, they're good at salesmanship, they said this about the banks, and that they still do have that advantage. Even now with Bitcoin where it is, they still could turn on their switch, use their sales, people use their investment advisors, and they could generate a lot of interest in bank coin. I don't see why they couldn't. What's important is that it works for people, right? That's the important thing. It's not about picking sides. It's got to work for people. People need a way of storing that value and protecting that well. I think bank coin would have many of the similar problems we have with Bitcoin explaining how it works, making it secure for people, walking them through a new technology, keeping money on their phone and their computers. I also agree with what you said earlier about people maybe not ready to handle their own Bitcoin keys yet, and that it's always the human layer that's the problem is Bruce Schneider, the security, philosopher, secrets and lies, several other books, advanced cryptography, wrote about it's always the human layer. You can always socially engineer your way into a business that's otherwise secure. You can talk the guy on the phone into giving you the password. In the Free AIDS case, too many of these small giving out your alias not having a strong email, not having paper wallets, of course we haven't touched on, but if you have a large amount of Bitcoin, I'd say anything over maybe three to five these days. You should probably be putting it on paper wallets and maybe not the same paper wallet, maybe make two or three, maybe not in the same location, maybe there's a fire or a flood, your paper wallet gets destroyed. Put them in a safe deposit box, give them to a friend, put them on a bookshelf, keep them out of a friend's house. You can have them encrypted as well so that even if your friends scanned it, they couldn't bring the Bitcoins in your house. There are options with Bitcoin. Exit question in lieu of you. To throw in some thoughts as well if you don't mind Thomas. Sorry, I didn't get you. No problem. This story is a story about the price of Bitcoin going up very rapidly and security practices lagging far behind that price. It's not something that people are used to because we've never had any assets that are so widely available to people that are going to rapidly rise in price. Security is all about how much money can I make off of you if I hack you and how much money do I have to spend to make that not an appealing thing for you to attempt to do. It's all about mitigating risk and it's about dollars. That's the bottom line for free aid. It's unfortunate that that happens but I'm not surprised to see that it's happening in general. I think that charities, Bitcoin charities really should be hiring consultants to help secure their assets. Their specialization is helping people and it's not IT security. They shouldn't aspire to be IT security experts. Perhaps that observation occurs with what people are saying before about people can't really hire them. Maybe the people are not ready to handle their own private keys. It's true that the average person is not a security expert. I think there's lots more that we can do to help people out and make security more accessible and easier to do. It's an interesting observation on the less. Not to mention what organizations like free aid should be doing is they should have the vast majority of their assets in cold storage. They should also ideally be doing all of their signatures offline and transfer to an online computer so that the actual private keys never touch the internet. The problem with that is that we don't have very many good tools to do that right now. One of the only ones is Armory. They're still trying to come out with a usable non-test version of their client software that the average person can use on their computer without having some kind of super computer. The technology needs to improve. We need to do a better job with that. I'm in between the people that say, well, people are not ready to work on their private keys and the people that say, well, it's purely technological solution. Somewhere in between, I think there's still a vast amount that we can do to improve on the technological front, but it's also important to understand that people are not well equipped to understand the security details of being their own banker. The only thing I'll say about that as far as the previous legacy banking system goes. It's largely their fault that people are not prepared to do this because the system has been so stagnant for such a long time and the banks have been taking responsibility for handling the security of funds. That's the reason why people are not, they're not prepared to handle their own security. They've been hiding from us the risks or the bad side of having the bank handle the security which is that it has to be a heavily centralized system. There has to be central banks that are controlling the money supply. All the security is dependent on the fact that there's a small minority of people that actually have physical access to this system and they have to know the right people and be very wealthy and all that stuff. If their solution is, oh, well, we have much better security. We can reverse transactions and blah, blah, blah. Their security is dependent on having an oligarchy. So as far as the legacy banking system coming into school, the Bitcoin of people about security, I think that's pretty ludicrous, but that's my two cents on the issue. I want to jump in real quick. I totally agree with Christoppe. It may not be a tech issue. It may not be a human-teleability issue. Can the banks come jump in and take some responsibility? As Chris is pointing out, possibly we should look at that. Maybe what Chris is wondering is, can we have any trusted third parties? I see two solutions. One is we teach people private property security once again. We used to be good at this as human beings. We are not in the last 100 or 200 years anymore for lots of reasons. We can point to through, we talked about social engineering, viewing human beings as resources and so on. Every person didn't really have a choice, but to outsource all this trust as they're up bringing, going through school and so on. We educate people how to do proper digital security and understand the private property security that goes on with securing your own private keys for cryptocurrency addresses. That's one. We start to trust some trustworthy third parties. Maybe there are some of these Bitcoin bank services or cold storage services that are coming out. They use open source code and principles, but they do become a custodian of your Bitcoin. That's an interesting business model. CoinSafe.com is one that I was very curious about and I've gotten to talk with their CEO a number of times. He called into our meetup to talk to our meetup about how their business is different than say, amount gocks, which is effectively a bank. These are interesting things to explore. We can actually trust some third parties with some fail safes in place and I think as this space grows as quickly as it's been growing in the next year or two, we'll have these solutions and it's unfortunate. Anyone who's got some shakily secured Bitcoins needs to reach out to someone like a consultant. This is a huge demand right here. Some people could be providing consulting services. I usually don't think consulting is a space that's ready for Bitcoin yet. Too many users in Bitcoin are do-it-yourself types and polyglots and auto-dye decks. They don't want that. Maybe a little bit of advice here, but they get a not going to pay for that. There's plenty of people who are securing wallets that have more than three to five Bitcoins in them that could definitely benefit from this. There's a market there. People who are capable of this should be selling that service. I would buy. Well, I agree. Well, I would like to see more consultants, but I'll let you go ahead and trust the third party services for now. I agree with what Christophe said. The charities should reach out for help. You don't have to be your own IT security specialist, but if you're going to accept Bitcoins, you might need a little bit of help from an IT security specialist. At least to get you set up in the first place, I'm sure a lot of people aren't even familiar with the fact that Gmail or Google accounts offer two-factor authentication. But that is a very important part of being secure these days is moving your email to somewhere where you can make it safe. Also, Christophe made a great point that as the price of Bitcoin has changed so much, the way that you store it has also changed. This is very similar to the Mt. Gox disaster that happened recently where people may be invested $1,000 a few years ago, but now it's worth $100,000. But they're using the same security procedures that they used to use on the 1000. They haven't split it up into diversification and multiple accounts. Any of these things, because these people aren't used to having this kind of wealth. It's a new thing that happened. Maybe they were waitresses or just computer programmers before. They didn't have this well. But everyone needs to join the next level and bring their game up a level and start doing these things. Start learning about paper wallets. Start splitting your accounts up so that you don't have everything in one exchange. If that one exchange goes, you don't have everything in one wallet if that's wallet is hacked. You can have a variety of things. It doesn't cost anything more just a little bit of your time and some knowledge that maybe you can even pay for as well with the consultant. But just as instead of an exit question, I wanted to ask that everyone could please donate to fr338.com and help them recover from this loss. So far more than 1.8 bitcoins have been raised to help fr338 through this tough time. I'm told in the future they plan to store their bitcoins securely on paper. As you can see right now, we have their QR address on screen, a link to their blockchain.info account. And Teresa has confirmed that this is the new address on a video. So this is the confirmed secure and a new address. Moving on to issue 4. Mount Gocks finds 200,000 bitcoins. Ah, remember just the other day when you reached in your couch cushions and found 200,000 bitcoins worth more than $114 million? A similar situation just happened to Mount Gocks. 200,000 of the 850,000 missing bitcoins have been recovered. Additionally, their leaked database had its first of what will no doubt be many statistical analysis performed. And they're allows users to log on to view their now worthless balances. What are your thoughts on the continuing Gocks situation? Chris Ellis. Dude, this guy is still trolling us badly. Like, I wish he'd just shut up. I'm just so fed up with this. Like, seriously, he just like, I don't know. Like, the fact is, am I right? I've only quickly read this story. I tweeted out earlier, I read the story in the New York Times. I'm right in saying this does not mean anyone's getting their money back, right? Basically, they've found another 200. They have 100,000 already. So that's 300,000 of 850 missing. That's about a fourth. So there's a possible 25% restitution depending on other bills, etc. So the way this works is, in liquidation, is the people that get the money, are the people that are closest to the people that decide where the money should go. I've been involved in these loads of times. So please don't get your hopes up if you've got money in empty Gocks. You're only going to get it if your friends of empty Gocks or your friends of the liquid A's is whoever that happens to be. So that should be the first thing. The second part of me still feels like Carl Pellis is in denial. And he still wants to sort of tell this story about how he can really recover the coins because he doesn't want to admit that he made a mistake or whatever happened. And that, you know, this whole, is that Facebook page still up? Whether saying, okay, we're going to rebrand this thing. We're going to earn it all back in fees. It's not going to happen. Just move on. Like, I know this is going out and it's going to get recorded forever. I don't care. The prediction is it's gone. You just need to move on and get over it. All these stories are just trolling. Kristoff, Atlas. What I would like to see happen out of this is that the funds are distributed evenly. I'm very skeptical of what's going to happen, but that would be sort of my best case scenario. Most importantly, I want to, I really hope that Mark Pellis does not get a single flipping dime until, you know, the rest of the customers get their money or he's, you know, he should not be paid in any higher proportion than the remainder of the customer base. Honestly, if he had any honor or dignity, I think he would be giving back some of his salary from the last couple of years as well for this incredible screw up. But yeah, that's what I really hope and is that I don't want to see Mark Pellis walk out and say, oh, well, we recovered the 200,000 missing. That just happens to be the 200,000 that was in my account. So, well, I guess I looked out there. Good luck to the rest of you guys. That would be a real shame. I'm curious to see how it goes. It's going to be interesting to see how this kind of these Bitcoin assets are handled by the Fiat courts. That's kind of a question mark remaining. And so, we'll see how it plays out. That's a good point on Pellis, Christoph. I was talking to a friend earlier about how easy it would have been for a carpellis or even the alleged red pirate Roberts to have stashed away a few Bitcoin's every couple of months into different accounts all over the internet, all kinds of brain wallets and wallets within wallets and other security things. I don't know that they did these things, but if they did, there certainly could be a lot of stashed money out there. And as we've seen with the free R.A. and the Mt. Gox money, 10 Bitcoins in an account today is about 1,000. But who knows what it's going to be a few years from now if you could find your stash and just reaccess it. So, will, Penguin. Oh, this is such a joke. I agree with Chris. This is an epic troll. This is like the most epic trolling in Bitcoin yet, probably. Yeah, I don't know. I hope some people get their money back. I don't think they will. And it needs to go away. This news just needs to stop. What a bumbling idiot. But he can't be a bumbling idiot because he's not in jail yet. No, what's going on? I just found 200K Bitcoins. Where did you find that? This is, where did you lose the other 650? I mean, just... Well, how did you not know they were gone? It's like Ralph Wiggum level stuff right here. I heard his cat ate them. That's what I heard. I have heard that the cat may be involved. And it is tragic and what's even worse is the identity database, which is rumored to be leaked and up for sale to the highest bidder on the pirate darkwebs. The one database has already clearly been leaked. I hope that the second one was not leaked as well. But we'll see. Derek J. Yeah, how do coins get found? The whole situation stinks to me. Initially, I had said it seems to me like the government seized the coins in something like a civil forfeiture. Then they called for a gag order, which is why Mt. Gox initially said that the coins were inaccessible instead of just totally lost. This could be that scenario playing out where they're like, all right, these coins were not involved with any sort of crime. You can release these. It's unclear to me, but something isn't right. I thought it was strange that Christophe said, oh, these 200,000 that we found were mine. And I'm going to keep them because I thought it was just the opposite that they already were his. And he was like, man, I screwed up so bad. Why don't I just give up like all the money I earned and just see if that will absolve me of some sort of guilt and responsibility here. And he just turned over like, oh, I just found my life worth. And here you go, I'm going to try and throw this in. Will that save me? Something isn't right. That would be a romantic and beautiful story if Carpellis was donating his own bitcoins to the cause. I don't believe it's true. Exit question, which phrase catches on and has real staying power? Getting goxed or doing a Carpellis? Chris Ellis. Sorry, say that again. What was the question? Getting goxed or doing a Carpellis? Be more kidding. Dude, OK, yeah, get gox, man. I just fell up with these frauds. I'm so sick of it. Chris Ellis. I am the gox. I am the one who gox. I am the danger. Will, Pangman. I am the one who gox. I like that. Chris Ellis. That's got to stick. Derek J. Yeah, getting goxed. That's going to be the one that sticks. It's shorter. It sounds kind of like a curse word. And gox has been in the headlines. Carpellis, not so much. I'll just have to hold out hope for my Carpellis one, then. When a big quinter pisses you off, you just tell him, man, get goxed. Get goxed. You kids in your sling. Let's see, moving on to question and answers. Coingley says, Dodge Coing is going to win. Tim Bendall says, could the banks release a coin where the exchange rate is fixed, or at least guarantee that it could always be exchanged for one USD or one pound? I believe this is called pegging. Any thoughts on this? Will or? Yeah, they can do that. They can buy into blockchain technology, create a crypto coin, peg it to the dollar, and we'll see how that works out. It's not that easy. You've got to have liquidity on the other side of the market, though, in order to support it in case of a crash. So it's not that easy. You can create a basket. Right, but they take liquidity. They have faked a lot of liquidity in the past. So I don't sell them short. Oh, come on. And they never said any live or rates or anything. The banks are fine. No, but hang on. Like I like the idea of setting a basket of currencies. This idea has come up a few times that we get a whole load of cryptocurrencies and create a basket of those so that people can still get exposed without the volatility. That I like because then you're advancing yourself over the diversity of the range of different coins in that market. That I'm totally open to because you still get the open nature of the blockchain. You can still see all the transactions, but you lose a lot of the financial volatility. I'm not sure about the banks doing it, but I can say that recently I did an interview with OpenTransactions and monotoss.com. And they're working on a similar system where they will be able to peg currencies, do baskets of currencies like Chris talked about and basically do all kinds of smart contracts and digital exchanging. So I would check out OpenTransactions. Our final question. What was the panel's opinion of the $200,000 Bitcoin that Malgox found? We just covered that as issue four. I believe we all wish that we found it in our couch. We're all very different place today if I found 200,000 Bitcoin's in my couch. So, moving on to one more question. Thoughts on Vertcoin. Vertcoin is one of the new ASIC resistant altcoins, a new category including Particle Coin and Max Coin. It went up a lot at the beginning. I didn't have any. It went back down. I still don't have any. And now I'm not sure where it is, but I don't have any. But sounds interesting. Can I ask how they're making themselves ASIC resistant? My basic understanding of Vertcoin, Particle Coin, myriad coin is a new one I've heard about is that they use multiple hashing algorithms so that if you had a really fast graphics card, you could do good on one of the hashing algorithms. But then they switch it to CPU mining and you need a fast CPU and then they switch it to some other type of mining. They're various things. But basically making it really hard to mine. Yeah. I think it's a good idea. One of the things we're doing at Vertcoin is we're routinely switching the algorithm. And one of the reasons I like this strategy, because we said that at the beginning when we started Vertcoin that we would not tolerate people trying to just, there should be no resting place, right? You shouldn't be able to just take it easy, right? I've got lots of money and I'm just going to invest in lots of hardware. And then sit pretty. And what that does is it actually disincentivizes people to make the ASICs in the first place. And I felt that that was the right kind of balance. So yeah, I think these ideas are very good. All right. Questions are continuing to flow in. So we will keep this open. So please continue sending in questions. The next question is, can you explain tapiki.com or tapiki? I'm not sure about. Yeah, tapiki. Sure. Tapiki is a personal finance application that's nearing beta launch for cryptocurrencies. So just think of mint.com but fully featured like that and for a variety of cryptocurrencies. So you can manage your public addresses of multiple wallets and do analytics and budgeting and all kinds of great features. I'm excited about this company. I've been in touch with their CEO and a couple of other people on their team. And yeah, I don't know. It's, I'm very familiar with Topeek and I think it's going to be a real nice gateway for the mainstream user to have some more comfort, you know, a more user friendly experience managing multiple wallets. I mean, it's easy to get your first two or three Bitcoin wallets once you get your first one. It's just something that happens. You know, you want crypto kit in the browser. You want a couple wallets on your phone for, you know, like spending cash and you want hardware wallets, offline wallets, you want all kinds of things. So yeah, it'll be great. It'll manage all of those accounts for a user and I think it's the attitude of the company's really fun too. It's kind of a fun lighthearted. They don't take themselves seriously. It's a lot of things that I think a lot of people in the space will enjoy. So please sign up for the email list on Topeek.com, T-A-P-E-K-E.com. That sounds very interesting and just as long as they aren't holding the public keys, I'd hate for people to give all of their control to this system and then be able to monitor their finances and then really lose control of them. Do you mean the private keys? The private keys, yes, sorry. Yeah, so the great thing about Topeek is for sure, you don't need to use any private keys with Topeek. All you needed is the public keys of the wallets that you're, you know, using. You can easily organize all that. I think users will really enjoy it. It'll be a fun, very smooth, fast user-friendly app to manage all your wallets and kind of keep a close eye on it instead of having to go into multiple apps on your phone or go into multiple website tabs on your browser or apps on your desktop and so on and so on. It'll be quick and easy. Or you can even monitor cold storage wallets where the public address is public and is receiving donations. So it's like a watch-only thing. And again, this is easy. This is not something that's out there right now. I know Mint.com is integrating with Coinbase and that's a nice little feature. I'm grateful for Mint.com with their profile and their brand awareness kind of partnering with Coinbase in that regard, but that's just Coinbase. And most people Coinbase is one of several wallets or more that they have. So this is a really cool way to manage that. And user privacy is a premium with these guys. Well, and even if Mint.com would allow you to enter how many Bitcoins you have just as a general cold storage estimate, this kind of feature is probably going to be found more in this new software than in the old Mint software. But there's definitely a need for these type of softwares. I have a program on my phone, phone, iPhone called CoinTracker. Seems to work pretty good. It allows you to enter in a portfolio of what you have and then to get a general number of how much it's worth. It's been down recently and then of course they upgraded the code and it's been crashing. It would be nice to have a web version of this that everyone could use to track their multiple altcoins and such. I wanted to throw out an observation or a concern about privacy with these type of services. So if they're not holding private keys for us, they're far and above better than those, safer than those. But the way that they handle our data I think is extremely important. So something that I really took from the FR338 hack is it was very easy for someone to determine who had a bunch of coins to steal to figure out exactly where they were keeping those coins and then to go after that target. And the easier that you make it for people to find your coins, the more vulnerable they're going to be. It's like if you have a bunch of bars and gold and you put them out somewhere in the desert and you have a pirate map, that's going to be a lot harder to find than if you're a gold store or whatever. And people that are looking to steal gold, they're probably going to go for the gold store that we buy gold store and try to rob that place rather than start digging random holes out in the desert because that's just not very viable. So the way that they handle our data is very important. What I like to see is the example of companies like blockchain.info where they are keeping customer data but they are keeping it in an encrypted form. So basically they're saying, I will hold your data but you have the encryption key. So we have private keys for you but now you have another private key called your password that encrypts those private keys and I'd rather see companies handling this data so that they're storing it in an encrypted form and everything that's sensitive information is something that's being actually done on the user's computer as opposed to on the servers. That's a much stronger privacy stance and I think it's going to become more and more important because keep in mind the coin is not like a bank account these transactions cannot be reversed in the same way. We are our own bankers and so if you make it easy for people to track down their coins you're going to potentially have a bad day. Yeah, just to echo what Christoph is saying, there are going to be three choices that users of this app will have in terms of the security that they want and the highest level of security is the kind that Christoph is referring to. There's a middle tier where that's also encrypting user data and then there's a beginner's tier, a low tier where the user data is not encrypted, it's the traditional form but of course two factors in option with that and all those other things. So passwords are recoverable with the easiest of the three and the latter two passwords are not recoverable. So much like the blockchain model you need to just manage that on your own and you need to have backups and you know just write things down store them and encrypt them, put them into true crypt containers and so on and so on and whatever is your method. But yeah, those will be options with defeat so they've really thought this out in terms of user security. I'm excited, I'm excited for it because I really think offering all three tiers is necessary as we bring people new users up to speed with digital security and private property security once again. We've got a couple more questions, we've got a comment from Warren B. He says it wouldn't surprise me if they would lend the crypto dollar into existence much the way the Federal Reserve lends dollars into existence. So watch out for Fedcoin, Govcoin or bankcoin as a possible competitor for Bitcoin soon. Yeah, I think the idea of pegging fiat currencies to some type of cryptocurrency that someone like saying, hey, I have a basket of rotten apples but I'm thinking of making a pie out of it. So they're going to be much more delicious pretty soon. And I'm going to price my rotten apples in gold. Right. Finally, we've got a question and probably more suited for Chris J is Fedorcoin planning on any forks or any more implementations to become more asick resistant? Yes, there's actually a lively discussion going on at forum.feathercoin.com. On the technical discussion thread, you can get involved there. We do have a hard fought coming up and there's currently dialogue engaged on how we should deal with multiples. So this is one of the issues that goes back to the incentive structure of Bitcoin that Satoshi's vision was that you had one CPE one boat and that the process should reward honesty more than dishonesty. That was the fundamental principle. But what we've seen is that you get this meta layer of information where you can run a website where you can look at the the price and the hash rate at the time. And then what you can do is you can say, right, this is the coin that's the most profitable at the moment. And so you should all go and mind this. The problem is with that kind of strategy, like if you're a minor and I meet a lot of people that come up to me at meetups and they say, like, how do I start mining? They're not actually interested in owning that coin. What they're interested in is owning what it buys them. So they just want the dollars. They don't want the light coin. They want the dollars. So they don't want the Bitcoin, what they really want are the pounds. And as a result, they jump in. They go to these websites that tell them the most profitable coin and then they mind them. But by the time the money gets to the exchange, by the time your coins get to cryptocurrency or wherever it was that the the multi pool dot us told you it was, the price has already changed because what they're giving you is already historical. A price is just a two dimensional reduction of something that is very complex. By the time you've seen the price, everyone else has as well or a lot of other people have sufficiently that that information is just noisy. It doesn't mean anything. So feather coin has been working very hard, you know, bush and the development teams set up that tech development board. So that regular people could get involved. Like the whole point of feather coin was that you didn't have to be technically adept in order to understand those concerns, everyone. Like because this is what happens right. The experts and the people, the people with the information, the way they treat the people who need it, that's I think is what is important right now. Because otherwise you are just going to have these experts going off, writing all this code, code is the new law. And I don't know that necessarily the developers of the right people to have it. So yes, in order to question absolutely feather coin is addressing these issues, you should definitely go to technical development forum and have your say and talk about it. Chris, can I ask you a question? This is something I've been curious about for a while, but I haven't heard an answer to it. So if you have a coin where you're trying to encourage the one CPU per vote kind of paradigm, how do you, can you stop this just being shifted over into botnets and having, you know, the majority stakeholders being in control over supercomputers and botnets and stuff like that as opposed to A6? So you're talking about like just renting out the CPU. So you're talking about the legal identity of the individual being separate from the hash rate. Well, I don't know that any of those coins, any of the coins currently have solved that problem. I don't know that we. Well, is it solvable at all or is this just an intractable problem? Because to me, it doesn't seem that much better to have botnet operators being the majority minors over ASIC operators, right? So I mean, at least the ASIC operators bought their stuff legitimately, whereas botnet herders are not doing that. So that's the question that I have when we're trying to push the mining back to the CPU level. Yeah, it's a good point. I don't necessarily have an answer right now for that. I think it's very difficult because I don't think technology is the only thing that needs to solve this problem primarily. I think that we've tried to throw money at the problem with essential banks and then we've tried to throw technology at the problem with the cryptocurrency. We're still coming up a lot of the problems is that you fundamentally don't know what the intentions of the other person are. Even on the exchanges, when you see a big buy order, you see a big sell order, you don't know the intentions of the human being behind it. I think what's important is that we do stay conscious, that we do reflect on ourselves and we do keep asking these hard questions. That's the only way we're going to learn from this process. I just want to say with a coin like feather coin, you can become involved in the community, either in programming, advertising the coin, talking about the coin or just giving your opinion to the forum. Thank you. I think that's one thing that is the values of the people, the reason I got involved in feather coin, so there's such a nice bunch of people that were just very well in, you're like, I just like, okay, so these people are definitely going to stay stick around. I trust these people with my life. You meet people at pubs and you go out, but sometimes you just get a sense and that's what you should be choosing your coin on. You should be going up to them meeting up in physical meat space and actually getting to know these people and if you sort of get a sense of like, yeah, okay, I trust this person, then I think that's probably the most important aspect. Moving on the next question, let's see where it goes, from Lake Coin Cowboy, does the next big Bitcoin crypto exchange exist yet? Who do you think could be the big exchange? Right now I guess it's Bitstamp and BTC-E. I would say right now, Bitstamps, a big deal because apparently you can use it in the US and in Europe. So there are options there. BTC-E is of course a big deal because you can trade your coins into Litecoin or Namecoin a couple of other coins and as well as change your coins into Fiat on the BTC-E exchange. There is some concern that the owners of BTC-E are anonymous and receive their funds anonymously through various levels of anonymous banking. So there's some concern at BTC-E. And yet, BTC have been the most resilient of all the businesses. They've been, I remember them being around for like the last two years. I can't believe like, I've got so much cognitive dissonance with this company because on the one hand, they're anonymous and we know that they've got links to all this kind of dodgy stuff. I mean, you hear rumors. I even met somebody on local Bitcoins about a year ago because I met up with them to buy some Bitcoins and he told me that he was like, you know, involved in it and he knew somebody there and all that kind of stuff. I don't know if he was just bragging. But yet, they always respond to hacks really, really quickly faster than any other Bitcoin business I've ever met. That PR is awful. Like just awful. They don't have fluid English. They just release one, like one or two word tweets with updates. And then just parts of their website where when you withdraw your coins, it brings up random Cyrillic characters that make no sense to me. And it gives you this really warm feeling like, I'm really working with a great system that's been tested here. And yet they've stood the test of time. They're still here after. I remember that when that troll box was really, really quiet and then it suddenly interrupted into this like, you know, 13,000 trolls just suddenly like just voice, it's like an anger management class or something. I got now you're making me think if we lose the exchange, I'm going to be more disappointed to lose the trolls than to lose everyone's money. They're just released this beast of mastcut thing. Did you see that? I saw the article. It's strange. What a strange place for that to come from. Is that really the place I want to be holding my cash to convert it into Visa or whatever that's the choice that's what we've come down to. I think we're going to see some other big exchanges in the US pop up here in the next like six to 12 months, maybe sooner. Coin market, VARUM, which is an institutional exchange will probably bring lots of liquidity to the Bitcoin and crypto coin marketplaces. And then Coin Center in New York, there'll be probably a couple in New York. So I think the US exchanges are very close to coming online. The little bit of capital that they do have is all going towards regulation and it's a big burden for them, but they're determined and I can smell them on the horizon. Also a cryptocurrencies in Florida and Kraken is in San Francisco. So there are US-based exchanges that may be the next safe and legal and up to date place to keep your trading change. We've got another question from Chad McDonald. He says, last night I went to the Denver Chamber of Commerce networking event. At the event I got 10 serious Bitcoin consulting leads. I think the everyday business man is now starting to ask questions. What are your thoughts? I think that sounds like a great business and maybe if I wasn't so busy making videos I'd be out there pounding the pavement doing that myself because it sounds like a great idea. So being a consultant, helping people get set up with Bitcoin maybe taking a small fee. Yeah it's education. It's what they're asking for is education and also they're busy doing things like running their businesses and managing many employees and things like that, managing departments, managing projects and they need someone to explain this to them so their heads around it and then help them implement it and be trusted to do so. That's exciting. I hear a lot about this stuff too and in all kinds of different areas of the country that's interesting. Denver doesn't surprise me. I know there's plenty of people in Austin who are taking care of lots of the businesses there and there's lots of accelerators in certain cities like Boston, Austin, Chicago and places like this where lots of tech companies are propping up, popping up and they're going to need some propping up from Bitcoin experts. Although I've got to say I just had a horrible thought. Be very careful when you're working with these people because if they lose all their Bitcoin they might hold it against you. So there's a whole new problem to IT. Right. And all these things now where in the past people were mad at me because I lost their photos or I lost their document files which again they never backed them up. I did. There's a lot of investigation that would need to go into developing a business model around this idea. Contracts would need to be very specific and you're going to need some legal help and stuff but there's demand out there. I think we're seeing. It might not be enough demand yet to actually warrant some of the startup costs like the legal consulting you're going to need to. You'd need a lot of legal consulting and a lot of technical consulting to really do this right at a high level where you wouldn't be putting yourself at risk. Certainly you could do this at a low level like a kid with a lemonade stand but like I said if people lose thousands of dollars they're not going to be happy with your lemonade stand. So this is a lot to do with how we share the risk between one another. Like I've both been a consultant and also been a purchase of consulting and my general opinion is that it just generally gives way to snake oil salesmen. People that just kind of you know they're traveling salesmen they go around they've got an expense budget they get to stay in hotels and they like that kind of like nomadic lifestyle but they don't really like ultimately like if you're stuck in a bind the solution to your problem usually lies within you. You're not going to get it by paying in a consultant from the outside. A lot of these problems with the people are losing bitcoins are entirely avoidable and if you're really really really honest with yourself it's just a five minute YouTube video away to learning how to create a paper wallet. I don't mean to be harsh but a lot of people myself included I've been guilty of this before I've left money on exchanges and you know I should have done something but it was just my laziness. It was my own like and I think it's got something to do because you know apparently people like my philosophy. I think it's something to do with the way we temper both our minds and our physical presence to the reality right. I think sometimes a lot of us just get lost in daydreams and we kind of get lost off in the mental stuff and we just lose touch with what's going on right underneath us. We've got all these kind of problems we've got to address but we've only got a finite amount of time. I think the banking system emerged initially to try and temper that to try and like say okay well if you don't want to look after your belongings and your stuff that matters to you then maybe I can look after it for you but you can't have it both ways. Like that money just isn't yours. Actually I think it was in economics there was a guy like Ricardo I want to say who said that when you put money into a bank account you're not actually putting the money there you're spending it. That's how you should think about it. It's like you're spending money on a product and whether or not you get the same thing back that you put in is not necessarily true. You should treat that like you've just purchased something and I think that's probably a better way of thinking about it. So unless it's like that on a paper wallet that's never touched the internet before it's you should treat it like it's temporary. Yeah I think the main difference that could separate these consulting businesses from other financial consultants and things like that and IT and all that stuff protecting data would be with the same spirit that is within Bitcoin itself. It's in trans equalities this whole community which is you know empowerment of each other and others. So at some point Satoshi is seeding the early Bitcoin network helping recruit developers and seeding the code around and the client around and miners around. He would to keep it decentralized in the spirit of open source and all that stuff he had to at some point turn over the keys and basically support leaders to become leaders and then allow them to lead and step away and find some new fertile soil. So the same type of model could be applied to this kind of a business I would think where the process of the service involves turning over the keys, educating your client to the point where you can turn over the keys to the role's voice. And that's a way to avoid the snake oil situation and I completely agree with Chris. This is a you create a lot of a lot of get rich quick artists when you open up a new market like this. So the right way to do this is with the same spirit that we all operate the people that we trust and love in this community. You know Jason King and all these other great projects, these great entrepreneurs that are just like you know they're hearts in the right place and what they're doing and they're sharing the way they share and their generosity and the way they give away their free time to other people. Yeah, if we do that I think we can avoid, we can really cleanly, this is another thing that I think Bitcoin helps teach humanity to kind of pick up on Chris's philosophy. It's about empowering other people, it's about building this community and you know like eliminating trust where possible so that you can have genuine trust where you need it. And you know we're seeing that all the time it's really great and people have come together I've met so many great people I know others in the audience have the same and if you haven't yet go to your local meet up and they'll find them there but yeah that's how I think you can separate the riff raft from the good stuff. All right and just to move through the last questions and comments Jay Saborsky says that he's being bombarded with requests there is a huge need for this and that any of you are more than qualified. So there is a future for us in Bitcoin consulting. Also SilverMiner is considering setting up a business to help charities raising bitcoins with web development and other things. I'd say it sounds like a good idea but just keep in mind what we're saying about security and transparency. Make sure that your clients are safe and make sure that also you don't want any control of that so make sure they have all the control and teach them how to do a good job with the keys. Moving on to predictions or final thoughts. It's the part of the show where I ask you to predict the future or to give us a final thought on maybe what your favorite story of the week is Derek Jay your predictions. Your final thought. Sure my favorite story of the week is one that we haven't covered yet but Sean's outpost celebrated its one year anniversary of accepting Bitcoin this week and in that last one year Sean's outpost a charity in Pensacola Florida has been able to serve 60,000 meals to the homeless. It's been able to also purchase nine acres of land paid for entirely in Bitcoin where the homeless can wash, eat and sleep far away from being bothered by police. They even use a dedicated dogecoin account to feed the dogs of the homeless. It's so cute. Go Sean's outpost and go crypto. Chris Ellis. I love Sean's outpost. Those guys in my heroes I love them. My prediction is that things are going to get harder to predict. I think the reality is going to get more uncertain and what was I thinking I had a thought just now someone just text me and it just maybe yeah someone a friend of mine to see else she just text me and she just said like everyone's going through like a transition at the moment right and things are starting to everyone's getting a sense like things are getting more and more uncertain. I think what the internet is doing is it's kind of revealing to us how uncertain it is stable things are. Now the information is becoming like real time. You can see everything that's happening with all this stuff like with the Malaysian flight. My prediction is that things will get more uncertain as time goes on. Chris Dough, Atlas. The story that peaked my interest the most this week was the release of a white paper by the dark coin team. Dark coin is a alt coin focused on privacy and the white paper discussed their dark send technology. I'm really impressed with the development team. I like their thoughtfulness in terms of the economics of the coin and the technology of the privacy features that they're adding. I posted some questions and some criticisms to them and they immediately got back to me and said you know this is stuff that we're already working on and they were right on track about how they're dealing with this stuff. So I'm really impressed in keeping a close eye on this project and I would encourage other people to do so as well. Will, Penguin. I have a prediction in the story I'd least like the most was probably a tie between the free aid theft and the story about Sean's outposts being harassed by the local Pensacola government. So if you care about initiatives like this that actually help people, benefit people that are being opposed roundly by just nonsensical reasons, these things can't be popularly supported whether locally or globally. So the kinds of attacks that Sean's outposts is facing currently with whatever injunctions they're up against. I'm not clear on the specifics but I know they've been fighting a long battle against the city of Pensacola to continue doing the great work that they're doing. So please help Sean's outpost make phone calls, right? Emails. Leave comments on social media, domains, properties, entities, whatever you want to call it. And voice your opinion here that you know that what they're doing is there's absolutely nothing wrong with how they're conducting themselves and this aggression from the state is unwarranted and disgusting. And yeah, if they get an influx of messages like this, not just from the local community there in Florida but the South as a region and around the world from the Bitcoin community then I think we can, this is how we can really have a voice and help our favorite folks, right? Help our community as a whole, you know, demonstrate that this can work. Maybe we can sweeten the pot for the city of Pensacola and encourage them to do something similar to what the city of Hall is perhaps about to do thanks to Chris's great work there. You know, incentivize them with adopting cryptocurrency in some way. I don't know, just a thought. But my prediction would be more price stagnation for the next month, maybe two, and slight gradual declines, maybe 10 to $20 a week for, I don't know, two to five weeks I would say. And then I think we'll see a massive run up just like the pattern holds, you know. I think it's going to be pretty tough to clean up Pensacola. I think the only way we're going to see it is supporting Jason King for a city counselor whatever they have there, magistrate they keep saying. My prediction, despite the false Chinese ban, Bitcoin continues to go international. Look for Bitcoin to take off in China, India, and even though they tried to ban it, Russia, Bitcoin is a lot harder to ban than Putin thinks. We're out of time. Until next time, bye-bye.