The Bitcoin Group, the American original. For over the last 10 seconds, the sharpest Satoshi's, the best Bitcoin, the hardest cryptocurrency talk. We'd like to welcome our panelists, Megan Lourds from Bitcoin, not bombs. Hi, thanks for having me. Here is the list from anonymous bitcoinbook.com. Hey, you could be here. And I'm Thomas Hunt from Mad Biccoins, our top story tonight. Issue 1, Bitcoin Foundation asks Super Nintendo Loskey to extend BitLicense comment period. They asked for an additional 45 days in request that Loskey used GitHub to organize constructive public comment saying that the Bitcoin community might not understand the current language language because it doesn't tell you what the goal is. Loskey responded by saying that we're spawned in 20 days. The goal seems pretty clear. New York regulation will be the same, better, worse, or delayed by 45 days. Megan Lourds. Well, there's no reason really for them to comply to any kind of demands from Bitcoiners. I mean, this is something you constantly see, whether it's in the form of a petition or any kind of government begging. They don't have to listen to us, honestly. Bitcoiners make up such a small percentage of the population, even though Bitcoin is growing, that I think they feel pretty comfortable in their position to try to crush the technology. Another petition that, well, I got an email from the digital, let's say digital commerce, and Chamber of Digital Commerce, I'm sorry, the other group that's trying to get the bit license commenting period extended. Although I couldn't find anywhere to sign for it, it was kind of like a press release, and there was no information on where to sign for it or anything. So it looks like there might be a couple of petitions out there. I don't know. Like I said, they don't really have to extend it, but it is typical. They're like, oh, yeah, we'll get back to you in 20 days. What they're going to do in that 20 days? Who knows at this point? I've read through a little bit of the regulations. They're kind of insane, honestly, that's my opinion about them. But yeah, I mean, they could really go either way, and I feel like I could go either way on this too. I mean, I wanted to believe maybe this was kind of, you know, they're going to put these big scary regulations out and then kind of like come back with an altered plan and be like, oh, look, we're being somewhat more benevolent because here's something that's a little more simplified and it's not quite as bad as what we were going to pass because we're going to actually be nice to you guys or something, but they don't have to do that. So I'm kind of at the point where I mean, I'm not really poor working with regulators or people who want to work with regulators. These are people who don't have our interests in mind. So, you know, I'm just going to probably keep adoring them as I have been. So, I'm just going to start off at least. Yeah, I think the Bitcoin foundation, their tactic, it seems to be kind of a delay tactic, a shot in the dark, of course, there's no guarantee that this delay tactic is going to be successful whatsoever. More and more, I'm hearing from people this idea, like, well, if we just, if we keep the conclusions or the inevitable consequence, the Bitcoin under the lid, we keep it on the down low and we delay long enough that it'll be just too long for these regulators to grasp what's going to happen when our decentralized, unprintable digital currency overtakes the occurrences. And this just seems like a crazy thing to me. I think it really is underestimating the people that have control over the world's financial systems right now. And, you know, all this stuff about putting the proposals out there and waiting for comment and so forth. It's going through the motions. It's giving it a veneer of soliciting feedback or giving, taking any kind of input in from the rest of the world when, in fact, these are unelected officials who are going to do pretty much whatever they want to do and get to what if you don't like, if you don't like it, there's basically no recourse for that. I mean, they've even come to the extent where they've said we can regulate businesses on the moon if they're doing business with a person that is one inch over the New York border. They've literally asserted that kind of authority. Losski Strikesby is the kind of individual who there's like aliens coming towards the earth, their spaceship, they're just going to get this like space arm modem. They're coming to destroy the earth and he's like, don't worry guys. I think they're going to attack New York first and as soon as they fire the first beam of mega beam at New York, we're going to have some regulations that are going to stop it in its path and they're going to have to get their earth destruction license and it's very complicated and there's no way it is going to actually happen. This is the level of crazy that exists with these kind of people. So they don't care about our opinions and we should just not try to engage with them. I think the delaying tactics are fine. I don't expect much to come out of it. I hope that Bitcoin Foundation is not wasting too much money sending these letter heads to the New York Department of Financial Services. Absolutely. In 20 days, there'll be 20 days less to talk about this. So it won't hurt as much when they say no to the extension. They could just say no to the extension right now. We don't want to listen to you. We don't care what you say. We had an AMA. We had a reaching out period and we came up with the laws we came up with. They clearly worked for the banks. They're from New York. They have a story saying about the Romans when Hannibal was marauding through the Alps and roaring through Roman cities. They'd open the gates. They'd let them in. They'd take down the flags. They'd treat them really nice. Hannibal would leave. They'd close the gates back up. Put the Roman flags back up. They knew that the Romans were coming back. That's what they always thought. They're like Hannibal. He's a passing fat. But the Romans, we don't want to cross them. And I think Loskey, the people he works for, it's much the same way. He believes the banks will come back. The banks will survive this. They'll be just fine. On the other side, maybe they need a little regulatory help to maintain their monopoly right now. But that's not the way this is going to work out. This is going to be a large historical change that people like Loskey don't understand and could never see. So his attempts to control and aren't going to work, their attempts to survive it aren't going to work. It's just going to wash them away like the tides. And there's been criticisms from people that look these regulations. They're going to make it very difficult for small businesses to compete in this area. That clearly has not been a problem for a New York or for the United States in general. We had dozens or 100 banks a decade ago. And now we have four. The idea that they would have some kind of trepidation about consolidating power in the financial system or stopping on the small guy, it's not very empirical for us to think that they would have any hesitation about that. They've done it so far and I assume that they will do it some more. Go ahead, Megan. And in the event that they do try to regulate on the moon, Bitcoin not bombs will be issuing bit licenses. So you could definitely sign up for one of those in case that happens. You're covered across the galaxy and it's actually intergalactic. That's true. Loskey is too slow because Bitcoin not bombs is already offering its own bit license and they don't just work in New York. They're intergalactic. Order yours with a custom QR code at Bitcoin not bombs.com. It's good to see somebody finally laminating something. You have a very powerful laminating machine. So I think we can repeat. It grants extra rights just like those shiny badges. I've got to see if I swear my shiny badges around here right here. Here it is. Shiny badges don't grant extra rights. So watch out for that. You never know who's got a shiny badge. That's right. I think we'll move on to issue three retailers who take Bitcoin. Love it. No more chargebacks. When you get an order in Bitcoin, you know the customer is paid and all you have to do is ship them the item. Bitcoin is simpler than credit cards for e-commerce. Kristoff Atlas, your thoughts on Bitcoin and retailer. Yeah, an online retailer. I sell my book through my websites and I do love Bitcoin for that reason. Had zero problems related to chargebacks or double spending or anything, you know, remotely resembling those kind of issues that do come up when you retail other stuff. So yeah, I think that's it's a very appealing thing about Bitcoin when you combine that with the ability to cash out into dollars immediately through a company like BitPay and Coinbase. It's a very powerful attractive option for retailers as we've been saying for ages. It's really a no-brainer to make this a payment option for your business today. Especially if you're selling digital items. It makes so much sense if you're giving them a digital book or a code to a video game or something. You get the money, they get the code. That's it. It's over. There's nothing else to do there. Megan, your thoughts? Of course, I love it. I mean, I love taking it too. It's just so much easier to use. You don't have to deal with the fees of the credit card companies or worrying about them taking back your money and all these other problems. It's way easier to use and it flies in the face of the argument that the pro-regulation people are trying to give to give legitimacy to these regulations, which is, oh, businesses are too afraid to take Bitcoin because they don't know how it's going to be regulated. That's crap. I think we've seen, especially in the past year, tons of people jumping on board and flying in the face of these regulations. We don't care about these regulations. We see the value in this technology and this payment system and we're going to take it and regulations be damned. So I think you're going to keep seeing that, regardless of what happens with the regulations, because people realize it's a much more efficient system. That's really what it comes down to is efficiency. This is something that's going to really, really subvert credit card companies, anyone who's dealt with e-commerce or tried to really look at that. It's frustrating when you're looking at these contracts that you have to sign these credit card companies. It's absolutely insane. A lot of people are catching on and I don't think the regulations are really going to stop that, because everyone, all of these retailers are saying, they're doing huge amounts of sales of Bitcoin, too, despite the price being kind of stable right now. When these retailers have taken Bitcoin, you still are seeing the Bitcoin community supporting them to the tunes of hundreds of thousands of dollars in some cases. So they definitely have incentive to stay and to tell their other business partners about it. And I think you're just going to keep seeing this spread because of the efficiency of the technology. Especially now that BitPay is offering zero fees for merchants, there really is no reason not to accept Bitcoin. All you have to do is sign up, accept it, and you're set. Moving on, issue three. Wikipedia picks up $140,000 in Bitcoin donations in one week. Bam, zoom. Wikipedia to the moon. Well, it's only 1% of their total donations for the last year. It's still 1% in a week. And with zero fees, thanks to Coinbase's policy on non-profits. What non-profits should accept Bitcoin next? Megan, Lord. I wonder that I have a specific nonprofit that I want to see take Bitcoin next. I think that it's really great that Wikipedia decided to do this. I know we were talking about this several episodes ago and we were all like, this is a no-brainer for Wikipedia. They could get the funding that they needed in no time if they just chose to take Bitcoin. And this is an example of them listening to people. And I think that's something that should really be taken into account when you want to support a nonprofit and you want your money to go towards something that you believe in. The people who are going to be the most open and new technology are the ones that you want to be supporting with your Bitcoin. So Wikipedia has done great. I think this definitely proved what we were saying probably months ago at this point about them taking it. So this is really great news. I don't have a specific nonprofit that I want to see take it next. But I really hope that any and all of them take it. Just as far as from a funding standpoint, but also from a transparency standpoint, it's very good to provide transparency to some, especially some of these larger nonprofits where you're not always sure where these funds are going. The granted, I think, your smaller nonprofits might have more of an incentive to look into that. Maybe some of these larger, more entrenched nonprofits, not so much because they've kind of gotten used to maybe working in the dark with some of their finances. But the more the merrier is far as I'm concerned. And this is how crowdfunding should work. Everyone throws in a dollar and we all get to use the Wikipedia. Christoph Atlet's, your thoughts. Yeah. I'm glad that Wikipedia had successful this. I think that's very encouraging. Glad they're accepting Bitcoin. On the other end of the coin, so to speak, I'm thinking of another story that came out recently about Bitcoin donations. This was a podcast that came up on, let's talk Bitcoin, a little interview the day with a guy named Richard Boes, who he went to various parts of Africa and he was going there with the express intent of kind of spreading Bitcoin adoption. What he kind of figured out there was like these people are not really in a good position to accept Bitcoin right now. It's certainly not the way that we do it in the Western world. They don't have the right kind of digital devices. If you're going to give them an Android tablet or something like that, it's actually somewhere between, it's equivalent to somewhere between two and six months of a teacher salary there. And so for the most part, as much as we want to help these people, you can't just send them a tablet. If they have any good sense, they'll just sell the tablet right away. The kind of the scales that they're working in are so much smaller than what we're used to. They do have access to the SMS network and therefore and BITPESA and that kind of stuff, but they don't have good access, cheap access, affordable access to the data channels. A week or two ago, there was a story about the Missilla Firefox phone that they're working on. Missilla phone that's going to be like $25 smart phone, but still that's a bit pricey for many people in the world. So I think that's going to be a bit of a barrier to Bitcoin adoption in many places of the world. In the sense that people won't be able to run their own, they won't be able to maintain their own wallets, their own Bitcoin wallets. They may have access to third-party services that layer on top of the Bitcoin network and I'm sure that will be very useful to them, but many of these places are just not quite there yet. I wonder if one of the most important things that we can do to help these people is what we're doing with Bitcoin in general undermining the governments that create this indefinite everlasting poverty in so many places in the world. These are people that they're not poor because they have some kind of cultural challenge because they're not hardworking because they're not intelligent or anything like that. They have extremely oppressive regimes that are funded by many Western regimes as well. A lot of the money that we think is going to help people in Africa actually simply intercepted and goes to defund warlords. So I think that the degree to which we can strip dangerous Western governments of their ability to meddle in impoverished areas of the world, the more that we can do that, the better effect it will have for those places and they will be able to build their own infrastructure, get their clean water, their electricity, their cable or satellite or whatever it is, they need to get onto the internet and then they'll really be able to participate in the Bitcoin economy in earnest. It's going to take a lot but hopefully some time and remember as our technology gets old, presumably it will be passed on to them. So we're just starting out with smartphones now. Presumably the old ones are going to be sold, resold to other countries and the trickle-down approach of technology should continue to serve us. Moving on to issue four, change tip and genomarble should accept Bitcoin. Change tip, the easiest way to tip someone on Twitter just became the easiest way to tip someone on YouTube. Just put in their name, the amount, add change tip and you're all set. The real question is will genomarbles accept Bitcoin? Mad Bitcoins and others on the World Crypto Network Reddit have launched a campaign to help the popular YouTuber accept Bitcoin. All she has to do is set up an account with change tip and the tips will roll in. People are even making videos asking genomarbles to buy Bitcoin. And there's Photoshop's by Fennep on YouTube. You've got Bitcoin, the movie and when genomarbles met Bitcoin, all she has to do is set up an account. Will change tip help Bitcoin go viral? How much longer before all the big YouTubers put up QR codes? Kristoff, atlas. Yeah, I don't think I don't see anything really stopping them from doing so. It's a small amount of work for potentially a decent reward. I imagine Genok pretty quickly with her fan days could rake in a thousand bucks for what is it like at maximum an hour of effort to and then she could buy a little outfit for her dog or something. I don't know what I'd really like to see in the YouTube space is like some browser plugins and stuff that help out with this. Here's my dream browser plugin. Let's say that I decide that I want to support the YouTube channels that I watch every month that I'm going to give. Let's say $5 in Bitcoin. It can sit in a hot all it's $5 to get stolen. I don't really care. The browser plugin will sit there and see which videos I'm watching, how long I'm watching them, whether I give them a like or dislike or whatever. Maybe it can even have a rate between one and five. Then it can at the end of each month allocate and it can also detect which channels are accepting that coin through mechanisms like this change tip mechanism. Then at the end of the month, dole it out according to some kind of algorithm which channels I watch the most videos of or whatever and distribute it out. Then I don't have to think about it. That's the kind of support that I would really enjoy. It's also very helpful to people that make videos too because one of the headaches of making videos is that if you get most of your money through asking for Bitcoin tips or those coin tips or whatever, you have to keep asking people because they forget if you don't remind them and it's kind of a waste of time and kind of annoying and people are not very good at spreading these donations out over the course of the year. You just get these, it's hard to really get a lot of good information with these kind of sporadic one-time donations or two-time donations or whatever. But if we have these mechanisms to do this in the background for us, then I think that would be hugely helpful to get more even donations over time. And if I had the time, I would absolutely make this browser plugin right away because I think it would be really helpful for Bitcoin adoption and help for the content producer as well. Change Tip is really going to help out people who make YouTube videos. It's incredibly easy to tip from the tips now. The only other thing I'd say that's close is Patreon. Patreon's a bit of a different system. It's not exactly what you're describing, but a lot of people have described that with the micro payments and the subscription-based quality of it. So hopefully it will appear if we keep describing it. Megan, Lord, it's your thoughts. So I thought Chris Alves I did it was really good and I love Change Tip. It's just really, really easy-using. It's really cool to see an action on Twitter. I haven't used it outside of Twitter, but I think this will really make it appeal to your millennials, your generation X people, because it's kind of quirky too. And I really like that. I think it's just something that's really interesting and really an easy way to provide value to a lot of people who may be doing YouTube videos is their only job. And that's great. I think it could even possibly cut down on some of the asking parts of it, because I know some people are really uncomfortable asking for tips. I know I definitely am. I just started my own YouTube show and I haven't really been asked yet. I just kind of put a little coat off of here. If you want to donate, it's kind of in the description, but that's not always the best way to make any Bitcoin doing that. So I think this will really make it easier to use. And I think getting some of these personalities involved will be really good. Jenna's put out some really funny videos. I think when she finds out how easy and cool this technology is, I think she'll be on board. She's a matter of, I guess, get her attention and getting her into Bitcoin. So I think you'd be a really, really good thing. And I think it could really help people who are already working really hard in the Bitcoin space on their own shows and their own content. So I would definitely like to see more of that. Maybe people who aren't as established as Jenna being supported, because that was just a lot easier to use. It's a easier to get those tips to them with change tips. And remember, Jenna, the clock is tipping. The tips that we sent yesterday expire in six days, six days remaining. Moving on to questions and answers. There's still a chance for you to get your question in, but you better type fast. We've only got a few questions. Chris Johnson says it's not a question, but he's all for what Chris is saying about the automatic tipping plug-in. So people are hearing you. They're hearing us the idea of having a certain amount, $5 a month, then cataloging all the YouTube videos you watch, maybe even measuring the minutes, and then cutting that up, and then disviding the money all up. That's what we're all looking for. I think that's the tipping app of the future, where people can put a little bit aside to make sure that the YouTubers get a little bit of money. So we're very good. Then we've got another question from Michael. Michael writes, do you think people will actually leave countries to not participate in proposed controls? I'm not sure about countries. People might leave the state of New York. There's definitely a possibility that the United States is pretty fluid. It's pretty easy to move around. If you were a technology person who lived in New York, I'd be thinking about moving as difficult as that is. Chris, what do you think? Yeah, I mean, there's definitely the potential here for jurisdictional arbitrage. Many of the people that I know in the Bitcoin space who are early adopters who are well-to-do with their Bitcoin earnings, they already exercise this on a regular basis. They move based on where they want to live, where they think the laws and the capital gains and so forth will be favorable. They place their businesses based on where they think that will be favorable. Businesses have already taken the steps to stop doing business with certain areas based on either laws that are on the books or laws that they fear could be on the books. There's a lot of companies that will not take US customers. There's some good, absolutely going to be some companies that will not take New York's customers after the bit license stuff is passed. I think that people will do the question, making a big move, moving to a different country, I think really the main question is, are you wealthy enough that you can afford to do that? Keep in mind that even if there's a married couple where the guy made a lot of money off of Bitcoin or the woman made a lot of money off of Bitcoin, but the spouse still has their regular job and they have a career or whatever. It's not necessarily so easy for them to just uproot and move to a different country. I think that's going to be the economy generally sucks too. In terms of making a big move, I think that will be the main factor, but maybe Bitcoin will go to the moon and people will just all move to Switzerland or the moon. I don't know. That's a little preview of our next question there, but I just wanted to say that I've known, oh, something about the bit licenses. I don't know what it was though. It'll come back in a minute. So we'll move on and I'll think of it. Any thoughts about Jonathan Giveres and his plan to make Switzerland into a crypto hub, which jurisdiction do you think is going to become the Silicon Valley for crypto businesses? I think Switzerland's very interesting. I know that Jonathan's probably the guy with open transactions. I saw Chris Odom speak at DC. He said Switzerland was very nice. He lived right next door to his work. Sounds like I just pictured Heidi in the hills and all that. It's a little far, not sure how you're supposed to get your dog over to Europe. That kind of thing. People have a lot of stuff to move. So I'm not sure about that, but it's an interesting idea. Megan, what do you think? Are you moving to Switzerland? Well, I've kind of looked into it in the past. It's actually pretty difficult to move to Switzerland. It's a little bit harder than I think a lot of people think. You definitely have to have a good amount of money to go. It's easy for people who have made massive gains in Bitcoin to go gold, but it's not the case for everyone. Like Chris Ophi is saying, I think you're going to see a lot of businesses fleeing if the regulatory climate gets too intense here, especially just in New York, but also if it starts leaking out on a broader scale, the people who can afford to move, I think you're going to see move. I need to look into the specific project, though. I do want to know more about it because that does seem like a good location for cryptocurrency adoption and a lot of activism and getting out of some of these restrictions, too. So it's something I need to look more into. But thanks for telling me because I'm definitely going to check that out. That's a really interesting idea. In the past, the Swiss had a very secure banking environment. I think they're trying to recreate that, although one something like that's been broken. It's very difficult to recreate. I remember what I was going to say earlier, I was saying there's been given a lot of thought to blocking the IP addresses from New York, not as a joke, but as an actual technical solution to Lossky's bit licenses. If I was in New York in any type of financial position, I would be absolutely worried that the state of New York is going to be cut off from Bitcoin and cut off from future technology. Even if I was Lossky, the fact that people are saying, we're going to add a checkbox to our application. Don't send if it's in New York. We're going to add a don't deal with New York checkbox. We're going to make our web pages load and they should already be doing this. If you detect a New York IP address, you should put up the graphic. We're not going to be able to deal with you in 38 days and two hours, whatever the countdown is, because that's what's happening to New York. New York, the former financial capital of the world, is purposely cutting themselves off from Bitcoin. As if it were a science experiment, so we could see what will happen. What will happen when you say no to the internet, when you say no to the future, and you have this whole underground economy and the black market, and all this stuff is going to develop? What an interesting experiment that they're running for our joy. It's like their own altcoin, their own little laboratory of democracy in New York. Megan, any more on New York or Switzerland? Well, New York, I mean, it just sounds like this is totally expected to come from New York. They just try to crush everything that's innovative. I think you're going to see people pushing back pretty hard with how militaristic it's gotten there, though, in general. It should come as no surprise. But yeah, I think they're going to end up pushing themselves in the foot. In a lot of ways, if they don't kind of back off, this is a desperation move. This is to try to control something that they feel is outside of their controls and slipping through their fingers. And I think that's why these regulations are so intense, because they're feeling that control slipping. And if they're feeling that control slipping, just a little bit, they're going to try to clench down even harder. And this isn't just, you know, the government, this is the, it's written as a private banking interest, too. I mean, I think they're mainly behind a lot of these regulations. I mean, they want everyone to play by the rules that they set for that already privileged them in the legacy banking system. So, it's a very, very interesting approach that they're taking. And yeah, I definitely want to see people pushing back and refusing to do business with people in New York. I mean, it's not here in New York. They'll get me wrong, but I mean, that's what's going to have to happen is. This has never happened before in history. We've never gotten rid of the banks before. It's the first time for this Christophe with us. Yeah, well, keep in mind, they're basically trying to illegalize math. So, you know, when you go into New York as an immigrant, there's some kind of sign, like give me your, your tired, your poor, your hungry. And then the next sign's going to have to be like, and here's a list of illegal numbers in the state of New York, right? Like, this is, this is where we're getting to as a species. Math is being outlawed. Moving on to the next question, and this might be the last question, unless you've got your question out there, try to get it in now. Does lightcoin deserve to be the number two cryptocurrency anymore? Will darkcoin replace lightcoin when RC4 is released? Well, Christophe, I guess the technical question first, what is RC4 release candidate for fourth version of darkcoin? Yeah, it's going to be mostly focused on improving the kind of privacy that's built into darkcoin and something that I've been working on the developer on with the developer as well. So, I think it's going to be very interesting. Well, darkcoin replaced lightcoin in the near future, probably not. It has a number of competitors at this point, I would say that the the money in privacy centric altcoins is spread a little bit thin right now. But at the same time, I am very confused about why lightcoin maintains its number two spots. You know, I'm very interested here if you Thomas or you may again have any thoughts about this, but I don't really know what makes lightcoin number two other than the point, the fact that it's been number two for a while, you know, I can't imagine that it's the single most profitable coin to mind at this point. It doesn't really have that much different about it technically compared to Bitcoin. I'm not seeing anyone talking about lightcoin or lightcoin adoption. I don't see it being included in point of sale terminals or anything. So, I don't know why lightcoin has been able to maintain its spots a little bit of mystery to me. I'm thinking the only thing, maybe the only reason it still maintains its spot is the reputation of the developers. I, for at least from what I've heard, there are a lot of people tend to like them and you trust them, but other than that, I kind of have to agree. I mean, I think I still have some lightcoin somewhere, but it's not something I really use a whole lot, and I'm not sure why it's in the number two spot, but then again, I'm not as aware of the different technical differences between each of the altcoins. It's kind of this territory I'm just kind of getting into and trying to research. So, yes, as far as dark coin replacing lightcoin, I couldn't get a comment on that. I don't have anything concrete on this, but I think lightcoins are good coin to use to move your money between the exchanges. It has a strong network, so you can feel reliable that your money is not going to get lost. And then of course, why would you take your money converted into Bitcoin, converted into lightcoins, send it to another exchange, converted into Bitcoin, do something else again, unless you are just trying to, in general, hide where your money is going. I think people might be using lightcoin as just a step to try to hide their money. If so, it's a very foolish step because it's not an effective means of hiding your money. In my opinion, there's lots of other things. I've heard things about BTCE changing their old database system so that old addresses no longer work. To me, I read that as a purge of their old database, and they're also a bit questionable anyway. So, if you could flip your money through three questionable exchanges through four different currencies, what's really coming out the other side? Like, maybe today you could track it, but if three of those exchanges die, what's going to be left? That's assuming that all of these exchanges have been already been tapped for their information. I would generally assume that they have. They could, but I mean, if that's going to be used against you, they're going to have to go through the legal system. I mean, if it's just an extra legal thing, then sure anything can be done. They wouldn't accept, you know, we don't want to draw this topic out too much, but through parallel construction, the fact that most people have no idea what they're doing in terms of their operational security, I very much doubt that in the majority of cases, they couldn't find some other made up story about how they nailed you. I've heard lots of people lost their money gambling. There's always hookers and blow. We've got more questions. Any idea how monotoss is going to monetize their technology? What I've heard about monotoss and open transactions is that it would be a good coin for maybe a rewards coin or a large soda company. Maybe kind of a give your customers a reward with their purchase. Then you could keep it. You'd have control over it. It's not going to be mined. You don't want someone to like mine Coca-Cola coin early and never have to buy soda again. If you're paying for that. So I think that the companies would pay them for the upkeep of the servers to support open transactions. Whereas with Bitcoin or Litecoin, the miners getting paid by the rewards to run the servers. So, but it's not entirely clear when their projects are released. Of course, I'll look at it, but this is my basic understanding right now. Christoph, what do you think about monotoss? Yeah. What my understanding of what monotoss is going to do is it's the main technology here is open transactions, which could be a technology that's employed by a variety of different roles in institutions and individuals. But for example, thanks could be running monotoss open transactions. People who are doing arbitration can be running open transactions. There's a lot of different reasons why you might be wanting to run the software. If it's a successful, there's going to be a network effect associated with running open transactions software. The more servers there are, the more useful it is to everyone to run open transactions and to download the client and all this kind of stuff. So, I think that I understand their model to be they want to foster this very useful technology, put it out there, build the network effect, and then also participate themselves as runners of open transaction servers, making money off of the transaction fees for whatever it is. They provide the ecosystem. And since they wrote the software, they expect to be very good at running the servers as well. So, that might be one possible with your point to do it. Yeah, I think it's much like counterparty where you would trade on the open transaction servers for the open transaction coins or properties or whatever they are. They might be able to take a cut from that from their servers. So, we've got one more question. It's going to be the last question today. And it's about something we haven't talked about yet. The price. What's it going to take for the price to break 660 and head moonward? Keep in mind that he's asking about 660. So, he's obviously looking at the technicals. I know we're in the 640 range for a long time. It got a little boring even. And in the 640 range, and we're down now, but we have a bit of an upturn here at the bottom if you look zooming out to the 12 hour. It seems like the chart has kind of decoupled from the usual news based analysis. There's probably larger forces that play. Many people believe that more businesses are using Bitcoin and thus are flipping their money over into Bitcoin every day, which they believe is keeping the price down. There's also just hasn't been a lot of interest in Bitcoin searches or in Bitcoin since January when we had the big 1200 spike. I think a lot of web people and YouTube people are looking at their views and looking at their websites and saying, wow, things were sure going good in January and then everything changed. So, I think we just got to hold on. See where it's going. We did seem to hit some pretty solid double bottoms here. If you go to 560, it looks like right here, 560, right here. It dropped a little below 538, but generally peaked down to 550. So, at least we found a floor, right? Your guys' thoughts on the price? Megan? It's a variety of things, especially the things you mentioned, new retailers coming in and moving their money around in not a Bitcoin. I think maybe some people are kind of waiting what the final verdict on these regulations are going to be to. I know not everyone's as concerned about that, but I think that may be a little bit of it. And I think it's the most likely just general disinterest at the moment. There hasn't been a whole lot of big news, things about involving Bitcoin, controversies even. I mean, the strange thing about Mt. Gox is it did spike a lot of interest in Bitcoin, even though a lot of it was kind of bad publicity, but it did spike a lot of interest. And I think, yeah, things just haven't been very controversial lately. I think people are not talking about it as much. I think some of the interests may be die down a little bit. So I think it'll take some major news item or some major event in the Bitcoin space even to maybe bring the price back up or move it one way or another. Maybe if Jenna Marbles accepts Bitcoin, that could do it. That could be the thing. Christoph, your thoughts on the price? Yeah, I don't know. I think we know some things that won't affect the price, something like Dell accepting Bitcoin. Meh, people don't care. And it makes a little bit of sense. It does extend the range of places that you can spend Bitcoin, but it also means that as long as these businesses are immediately cashing it out for dollars, that puts some downward pressure potentially on the price of Bitcoin as well, by giving it constantly, you know, settling off the Bitcoin as quickly as possible. So I think that type of change is not going to affect things very much. The New York legislation by in and of itself, I don't think people are going to care too much about what's going on in New York. The real question is, can it spread like a virus to other legal jurisdictions? And I think there's potential for that, but it's not quite clear how quickly that could happen. So I think that's, you know, some long-term investors probably looking to that event to see, to get some kind of hint about how governments are going to change their tune once these New York regulations are cemented in place. It certainly has been the case that the United States and New York in particular have been really setting a lot of the ground rules on a global basis for a while now. And even in the Bitcoin scene, they had a, you know, a really big impact, Fincent, and all these these kind of people in the US had a really big impact on the Japanese company known as Mt. Cox or MT Gox. So I think that's, you know, that could be one reason for the the hesitation and the marketplace. All right. We've got one more question. It's pretty easy. We could just answer it with an article here. Glenn asks, what is Ethereum going to do with all the Bitcoin they raised, which is an answer provided by coinTelegraph.com. So check out coinTelegraph in their article. What is Ethereum going to do with all the money it raised, which basically says they have a plan to break it up into parts. Some of it is going for legal contingencies and expenses. Most of it is going for development and delivery of the Ethereum platform. Some others will go to community outreach, perhaps mad bitcoins or the world crypto network. It says $1.5 million. So that would be cool. It also says $1.1 million will go to the cryptocurrency research group. So they have thought it out what they're going to do with it. They've also said they're not going to be dumping it. There's been some rumors about them dumping it and they say they're not going to do that. They're going to try to move it slowly and just use it for operating costs and there doesn't seem to be anything wrong with that. So check out the article at coinTelegraph. We're about out of time. But we do have time for predictions or a story of the week. Are you ready, Megan Lors with a prediction or a story of the week? No. But again, I have a prediction. But I did do a plug for my next guest. It'll be Stephanie Murphy on Crypto Combo's next Wednesday at six o'clock, central standard time. So check her out. A lot of people who are watching this show probably know her from Let's Talk Bitcoin and she's also involved in a bunch of other libertarian projects and does voiceovers. All kinds of cool stuff. It's going to be a really good discussion. I want people to participate too. So kind of the format of my show is just doing interviews. I was doing before, but with more audience interaction and participation. Check that out next Wednesday. That'll be very cool. Stephanie has the voice. You should try to get her to say something stupid or something goofy, some silly things. Maybe World Crypto Network. We'll see. We'll kind of have all of it. You've always loved it. She just rocks that and she talks like that normally too. It's not a put on or anything. So it's very fun to. Christ off prediction or a story of the week. Yeah. My story of the week was about this government organization in the United States. It's called the National Institute for Standards and Technology or something like that. NIST. They recently put together this report. They had some panelists on a committee people from different places looking at NIST. How good of a job are they doing? One of the things that NIST has been doing over the last couple decades is they have been an authority globally in publishing standards for algorithms and in particular cryptographic algorithms. So things like Shaw and Shaw one and Shaw two. A lot of these algorithms are heavily used in Bitcoin. A Shaw two for example is one of the important algorithms in Bitcoin that the Shaw two for these six hashting algorithm for mining big coins is based on Shaw two. And they came under a lot of fire or I guess earlier in the year perhaps later last year when people realized that the NSA or the National Security Agency, a military organization that is tasked with the offense and defense of the United States military. They had come up with a proposal for an algorithm, an elliptic curve algorithm. It turned out that there was a back door or very likely a very strong likelihood of a back door in this algorithm put there deliberately so that if people did decide to use this algorithm that the NSA would be able to decrypt all of their information and you exploit that back door that they put in there. And of course NIST came under a lot of fire for this because they're supposed to be the organization that's doing the due diligence making sure that these algorithms are secure and really well thought out and they put their stamp of approval on it and it was a real black eye for them for someone to reveal that one of these algorithms had been back doored. So the report basically said looking back on this occurrence, the agency really lacked independent oversight, independent opinion in this matter. What happened between them and the NSA was they were like, whoa gee the guys at NSA were really smart so they probably did a good job with this. It looks a little bit fishy but yeah it's the NSA so it's probably fine and then it wasn't of course because they they backed toward it. So I think to me like this is an important story even in the world of cryptography which is in very you know there's so many in-archic technologies that are based on cryptography. We've still been using leading on the government for lots of things when it comes to cryptography on a global basis and so many people it's so funny to me there's all these like crypto anarchists that are like yeah we hate the government but like we are really it's really important to use the algorithms have come through the NIST approval process because like that's the you know the authoritative one and now they're kind of like mmm maybe we shouldn't go through those guys I think we shouldn't you know it's time to to grow beyond that it's time for there to be a truly independent and international community for these kind of standards and it just goes to show that we absolutely cannot allow the government to either be honest or to be competent. In both cases the NSA was dishonest malicious and the NIST was they were incompetent to to get this stuff make sure it's secure so this is a you know it's a good template and a good lesson for us to learn when we think about things like the bit licenses and stuff like that you know all the time I have reporters come to me they're like yeah so what do you think about the bit licenses and you know how is it going to help secure customer funds and like it's not it's not like they're talking about the the stuff that is in the bit the bit license proposal where they're like yeah you've got to have a cyber security program that shit is 10 years old 10 years old we're talking about voting pools we're talking about cryptographic proof of reserves and they're talking about this shit from 10 years ago and before Bitcoin even existed that's insane so we cannot look to these people and the only thing that the regulators these government regulators can do is they can get in the way of market based regulation that will actually effectively protect customer funds and protect the crypto economy so it's time for us to to find new avenues and find ways to work around these people very good Kristoff and now a prediction Jenna marbles will accept Bitcoin her media team will see this they'll see the photo shots by Fennep they'll see the videos they'll see the money stacking up in their account and they'll accept it maybe nine cents isn't enough but if all 13 million of her subscribers donated nine cents it would be more than one million dollars and that's the power of frictionless nano payments made possible by Bitcoin we're out of time until next time bye bye