The Bitcoin Group, the American Original. For over the last 10 seconds, the sharpest Satoshi's, the best Bitcoin's, the hardest cryptocurrency talk. We'd like to welcome our panelists. Theo Goodman from Hasse online. Good evening, everyone. Gabriel D. Vaughan from Future Rant. Hello, Internet. Hello, Posterity. My name is Tom Vays from Liberty Life Trail. Hey, everyone. It's still on location this time. Somewhere in the woods in Pennsylvania, and way through the show. I'm Tom as Hunt from the World Crypto Network. We didn't write a script today, so we'll just be winging it. Issue one. Rejecting today's hard fork. The Ethereum Classic project continues on the original chain. As you all know, the Ethereum project created a hard fork over the weekend to return the funds that were stolen by the Dow hacker. However, some continue to mine the original chain and are attempting to sell their newly mind alternative Ether currency. They're finding few buyers, though. Theo Goodman, your thoughts on the continuing story of the Ethereum hard fork. I think that's great that there's Ethereum Classic and that people are still on that chain that didn't do the hard fork that did not essentially reassign coins. If you set this as a standard of something that can happen, then, hey, Vitalik, I sent 25 Ethereum to the wrong address. Could we fork now, please? For my friend, he broke my mobile phone with the Ethereum wallet with 100 Ether. I need a fork. Actually, he stole it from me, so I have another theft. So I need you guys to fork now. I know it's more complicated than that, but I would rather have seen them not hard fork and just deal with the so-called theft, which was actually just execution of the smart contract in a way that the people didn't intend for it to be executed as. But hey, that's how it is. That's how it is when it's live and then deal with it. I think that would be better than forking. I agree, Theo. It's not even individual users calling for a fork. What if a government called for a fork? They now know exactly where to go, right, to Vitalik. Gabriel, that's true. That's true. That's true. I really enjoyed this article. I thought they found a great guy to interview, of course. He's been talking about Ethereum, plasticsoes, and natural choice. But this guy, Arviko, some Ukrainian or Russian dude, who's really up on him, he wrote a little manifesto earlier this month for decentralization and how it is the essential factor to concentrate on in order to create an immutable and independent ledger like Bitcoin. He made some really cogent points in the interview, especially when he talked about social consensus and how the consensus of the community is the determining factor of the approach. He included a rather scathing indictment of Ethereum's principles and how, you know, he mentioned importantly how sacrifice is necessary in order to uphold principles. His focus on values as the real this and the reason why Ethereum classic still has 1% of hashpower is going away yet. Of course, and he mentioned that approximately 30% of the mining was against a hard fork. Now of course only 1% is still mining on the classic fork because it's kind of an extremely risky financial and business decision to continue on the quote unquote losing fork. But on the other hand, 30% is really big. You're talking about tyranny of the many who have given up their principles of immutability. And they're kind of like, you know, they want their cake and to be able to eat it too. They want to say this is an experimental network and it's also live and worth a billion dollars. Now, you know, of course Bitcoin is technically still in beta and the developers will emphasize to you that it's experimental, but they do not take these type of risks like that. It would definitely not happen in the Bitcoin community. And I think Arvico rightly identified a main difference between Ethereum and Bitcoin. None of which is technical. It's the principles and values that are instilled in the community. And let's remember these were very self interested voters. They had all lost a lot of money in the Dow and by voting for the hard fork in the short term, they get the money back from the Dow in the long term. Can you really trust this contract system? Yeah, and I want to mention that the this Ethereum classic has suddenly made the Ethereum interesting to me because now we have a community led by Arvico and the Dow exploiter who's obviously an extremely skilled programmer or, you know, this technical analyst. So we've got a completely different community with the principles and values that are in line with Bitcoin working on this smart contract sidechain, not sidechain, but blockchain. I'm not necessarily convinced that, you know, touring complete smart contracts built into a blockchain is particularly useful, but I'm going to definitely keep my intent and tennis up. And maybe I'll pick up a few really cheap, you know, Fc tokens, you know, while there are still for all we know that that could be the winning fork over the long term. Who knows? That's just what we need. More speculation, tone, phase. I really like what you said, Gabe. And one thing I have to disagree with you is that the reason that I mean, you kind of know it as well. The reason why I have been against Ethereum from the moment I heard the word Ethereum, which was way before their car out sale, is because there are many principles. They never did. It's a currency. It's not a currency. It's gas. It's proof of work. No, it's proof of stake. It's immutable. No, it's not immutable. Basically, it was everything you wanted it to be from day one. And that's why everyone wants to program on it because everyone thinks that it's everything they wanted to be. So Ethereum never had any principles. So I had no reason to ever care about Ethereum. And to me, it had one of the most scamiest launches. And that now everyone is trying to follow with selling tokens that don't even exist. Wait, what are you disagreeing with now? No, you said that Ethereum had principles and it didn't stick to them. I'll say it never had principles to begin with. No, no, no, no. You misunderstood me. You misunderstood me. I definitely did not say that. Okay, yeah, no, I know. That's how it came out. That's why I said, I know you didn't meet it that way. But it came out like Ethereum had principles and it didn't stick to them. And I'm saying it never had principles. But now with Ethereum Classic, we're actually going to have some principles. And we're going to have the most important principle, which is immutability. And to me, if your blockchain isn't immutable, it's not a blockchain, which is why the moment this proposal happened, I raised a question on Twitter that said, what is Ethereum now? Is it a now a private blockchain or a public blockchain? Because I honestly do not know. So to me, Ethereum today's where it is, but Ethereum Classic. And I really like the name, by the way. The name made no sense when it happened in Bitcoin when they named the upcoming fork Classic, as opposed to sticking to what they thought were principles as the Classic. So I like the name. I am going to be curious where Ethereum Classic goes because that might be a chain. I might be a little bit behind on, even though I'm still completely against everything else. To me, both of these Ethereum are testnets for Bitcoin. And this was a great testnet fork example of what happens. I really hope Ethereum Classic coins are very, very cheap. And I might break one of my rules, which is buying an old coin, but I'll do it just to support a VCO because that article was absolutely amazing. That's probably the best article I read in several months within the blockchain space in general, whether it was Bitcoin or anything else. Just one last point on the Ethereum bailout, and I called a bailout, and I just sent out a series of tweets comparing the Ethereum foundations bailout of the Dow to the Federal Reserve's bailout of AIG in order to move the money into Goldman Sachs. That's kind of like I see Vitalik Buterin and the Ethereum foundation bailing out the Dow to move the money to not so smart investors. And over there, the irony was that the new CEO of AIG that came in to move that money was actually on the board of Goldman Sachs at the time, and it was Goldman Sachs that made the initial proposal and introduction to make him the CEO of AIG. There was funny in Ethereum, we now have Vitalik Buterin, who was the co-founder and I guess creator of Ethereum, who also happens to be pretty much the voice of the Ethereum foundation. So to me, the parallel was just uncanny, so that's why I tweeted out the similarities. Now, I don't know what more I can say that hasn't been said. I think it's terrible. I think Ethereum Classic may actually have some principles, and we'll see who's building on that. One other point I want to make that you said was, I already forgot exactly how you said it, but I think the most irresponsible companies and people that are now around are those that are programming their businesses and whatever projects they're doing on Ethereum because of this, because they can just fork it. And it's a joke, of course, if the government shows up at the Ethereum Foundation office, they won't be able to actually do anything, because then they will not get the exchanges or the miners to agree. So it's just a joke that the government can make Vitalik and Ethereum fork and do whatever they want. That is not true. They won't be able to do it, but if Vitalik gets pinched by the feds and he doesn't tell the community, then who knows what's going to happen in the future. Excellent, boys. Tony, as always, you can check out the article link in the description below. Moving on to the exit question. Exit question, if you were an Ethereum miner, which chain would you buy classic or the new deal could be? Ethereum, classic, of course. Gabriel, T-Von. So all my mining gear and buy Bitcoin, mining gear. Tell the best. I like that answer. I mean, because I would mine classic, but I understand that miners are just there to make money, and they're just going to mine whichever chain is more profitable to them. But I hope they have analytics running to see which chain is more profitable at any given time. And I honestly do expect that 50-50 split in NUM. That's a tough call, but we'll see. Maybe that will be my prediction of the week. Wow. Philosophically, it'd be great to mine classic, but it's much more likely that you'd have to mine the new chain to maintain your mining operations. You have to go where the money is. Moving on, issued to Blockstream Announces Defensive Patent Strategy. Blockstream Announces that they are joining the group of Bitcoin companies, patting Bitcoin and other things related to Bitcoin. Of course, their attempt is going to be defensive, just like Coinbase, to file nine patents for blockchain processes, saying that they opposed patents, but they're getting them anyway. Eight companies have filed Bitcoin patents, including 21 Coinbase, Bank of America, Bitgo. Mastercard, Amazon.com, Western Union, and IBM. There are a lot of Bitcoin patents going around. Will Blockstreams be successful? Should they have formed an organization instead of heading out on their own? And also, congratulations to Blockstream for upgrading Bitcoin's nervous system with the Fiber Network, a faster version of the Bitcoin Relay Network created by Matt Corello, and supported by Greg Maxwell. Gabriel, divine your thoughts on Blockchains, new patents. Well, I'd like to preface my comments by declaring myself an unbeliever in the concept of intellectual policy. I believe it is an oxymoron. You cannot secure something that can be copied infinitely. Bitcoin is the first example of a truly scarce digital asset, and that's one of the many things that's so incredibly groundbreaking about it. I believe that all copyright patent and similar protocols in government law structures are fallacious based on control surveillance, and just overall authoritarian impulses in governments and protectionist tendencies in industry. So as such, I think it's terrific. I think the trend of defensive patents in the open source software space is a perfect foil, because the concept of intellectual property cannot be legitimized on a philosophical level. And therefore, it is riddled with exploits and possible exploits. And the idea of copy left and defensive patents are a perfect example of how you can use the system to break itself, because it's completely based on hot air. It has no structure beneath it. In general, I'm very for the idea of defensive patents, and I just love the idea of the patent agreement. So the people that use the patents have to, so that they're utilizing this legal structure to create a contract that makes the users of these ideas coerced into not being able to patent them. So I just love how that turns it around, and I genuinely feel that the trend of defensive patents and copy left will be the undoing of intellectual property in human society around the world. So I'm very for it. Now naturally, there's always possibilities of weaseling out or turning things around, just because it's totally subjective bullshit legal area that has no, you know, like as I said, no moral or philosophical standing. So anything could happen in the future, but I'm very for the idea as they presented. I for one expect more from block stream, and I would like to see more. I think this is a complex problem, and they need a more complex solution. Now they've just joined that list of companies that have attempted to patent something that they probably don't own. I don't really believe in intellectual property, they're like Gabe said, but I would have liked to see a consortium approach. I would have liked to see in block stream reach out to coinbase and 21 and bit go and say, hey, you have some patents. We're going to get some patents. Let's put them all in a group, and then let's enforce the rules. If you're using the patents wrong, you can't use any of the patents. If you're using the patents, right, you can use all of the patents. I think that the open source group model bringing the companies together is what I would like to see from this. And it's still possible that they're going to do that in the future. This is their first step. I'm giving them a chance. I know that's true, but I would just like to see more. I'd like to see a more complex solution with a consortium. I wouldn't be surprised if there's an open source Bitcoin consortium that does agree on some of these defensive patent strategies. So I actually like your idea, Thomas. I also agree with Gabriel. I'm against intellectual property patents. I'm against intellectual property period against pretty much all patents. I like trademarks for trademarks. I mean, if you could design a logo, I mean that should be your logo. But I'm against patents. I'm against technological patents. I mean, that's not how human civilization progresses. That's just about money. So, but anyway, we'll get to some of the other types of copyright later on because I'm also against copyright. So I like everything that block stream does. I'm like, you know, like an unofficial spokesman for for blockchain because I like them. I don't I'm not affiliated with them at all, but I like everything they do. So I trust them. I don't trust any other company you named on that list. That's filing Bitcoin patents. The only company I trust in the base in this regard, it would be block stream. So because of it, I'm perfectly fine. I'm not really going to comment on the technical solution that Matt Corolla has put in. I'm sure it's great, especially if other core developers are behind it. I have full confidence that this will help speed up Bitcoin transactions. Again, I have full confidence that I've in that team. And because of that team is the reason why I'm such a big supporter of Bitcoin. I'm not sure what else is there to say on it, a block stream. Keep doing what you're doing. Keep up the great work. Stop listening to the trolls. And I do think it was important to include that technical article because that's what I think block stream is really good at. They're good at technical solutions. They're good at nuts and bolts. I don't think they're very good at press relations or presenting the idea of their company in a way that doesn't freak people out. I think they could use help in that department. They are good. They're more developers. I mean, that's what they're good at. Stick to that. You know, I would love to see them hire someone that makes their story better because I want to understand their story. When they make Bitcoin worth $10,000 a coin and they're all multi-millionaires. Hopefully they have some Bitcoin and they're keeping their funding in Bitcoin. And then when they make Bitcoin $10,000 a coin, they can then go and afford some good PR people. For now, just focus on the work. They've raised quite a lot of funding. They could get some PR. Theo Goodman. I think I'm going to have to be the contrarian here and think that a board stream has got a big monopoly on all of this stuff. Now, I'm just joking. I think I like the consortium. I like the consortium idea too. I guess I'm going to just go along with that. I guess I don't have a clear opinion on the whole intellectual property thing and all that because I'm just thinking about it a lot lately. I'm not really sure my opinion about it right now. I had a lot of discussions about it. I think I probably agree with you more on patents, but not necessarily on things like music or other creations like that. But yeah, I think this whole Thomas, your consortium idea, I think that's probably the way to go. And that could happen in the future. I don't know what happens when five out of 10 of them only join it. And then you've got like five that are not in the consortium. I don't know how that really works. That would be could get kind of weird. Kind of like a family that's together, but they've kind of rejected each other. But yeah, I think that that's the way to go, hopefully, and that seems like the most productive way. Exit question, which one of the three biggest Bitcoin companies do you trust the most? Blockstream, 21 or Coinbase, tone Vays? I trust the block stream more than all the other companies in the crypto in all of crypto space combined. Gabriel D. Fine. Companies, companies, trust. Those two words don't usually go together for me, but I'll go with Tom's answer. Theo Goodman. None of the above nitrogen sports. None of the above probably the safest answer, but I love it. You chose a third party key holder. And remember, you can save 15% off Amazon just for spending Bitcoin at purse.io. Just copy and paste your wish list, paste it in the bar and save 15%. It's just that easy. I do it all the time. It's a great way to spend Bitcoin. And remember, if you're holding your Bitcoin, you can always buy more and then spend that Bitcoin. You just buy more and spend it. You can keep the same amount of Bitcoin. It's pretty amazing at purse.io. Issue three, the Central Bankers bold new idea, print Bitcoin. As they say, if you can't beat them, join them. The Central Bank of England is advocating that Central Banks issue digital currency, allowing them to operate 24-7 365 with no human interaction or operation. The article mentions that most of money is digital already. The only change here is that they would be getting rid of the banks as a middleman, an act that could doom the banks to a relevancy. Will the Central Banks kill off the other banks? Will they take away their money printing, money creation abilities, tone veys? Oh, man. Just so much to say here. We do this story every month, every month. It's China. It's a way. Is this UK this time? Yes, this is the UK. They've talked about stuff like this. I find it like, the UK is probably the most ironic of all the countries in the world. Their Central Bank seems to be publishing the most about this, which is the irony of all irony, because that's the one country that is like hell bent on making encryption completely illegal. So I find this insanely ironic. So I'm going to have the same answer. I said when China had this article and Belgium had this article and like God knows and God knows who else. At least they realized that 95% of all money is already digital. So what this sounds like to me is that these are more socialist central planners that want to get rid of the bank so that only the government has control of the money. Which in my opinion is far worse than the current system we have where the private banks get to print money. I'm more okay with private banks creating money out of finair by giving out loans than I am with central banks creating money out of finair. And I'm one of the people that occasionally defend central banks, but only when their job isn't to print money for the general public. But anyway, let's get back to this. So what they're talking about is getting rid of the banks so that they have full control of the money so they can print it. There is nothing there about cryptography. There is nothing there about privacy. There is nothing there that's anywhere close to what Bitcoin is. They have no idea what it what it means to have a permissionless payment to them. Oh, you can bypass the banks, but then they will be the policeman. The central bank will be the policeman of your transaction. They have no intention of making permissionless payments. And this is another thing that I try to explain to our three people and T zero people and anyone else that's hellbent on removing the three day settlement problem because three day settlement is not a problem. Three day settlement is an annoyance and it's a regulatory problem. Three day settlement is not a technological problem. If your email was able to get to you in five seconds back in 1999. So could have your money back in 1999, 10 years before Bitcoin white paper even came out. So again, this is complete nonsense and it's their goal to eliminate fiat currency. They're goal to eliminate paper currencies specifically so that all money is digital and I'll briefly talk about my three reasons as to why all governments want to eliminate paper cash. One of them is they can set whatever insane monetary policy that they like, which is negative interest rates because they they have they think they can control the economy. The second reason is it eliminates a visual problem of a bank run and it eliminates the bank run altogether. If there's no cash to withdraw, you will never stand in line at a bank to withdraw cash nor in line at an ATM. The pictures during a great depression of people lining up to get money out were identical to the pictures in Greece in 2014, I believe, when their banking system shut down, those you put those pictures side by side, they're the same ones in color, ones in black and white. Those pictures will only be in history because there will never be a line to get cash and the most important reason they want to eliminate cash is because they think every person, not a Bitcoin person, every person in general is a money lingerer, tax evader. They think they will solve this problem with by eliminating physical cash, but they still don't know that Bitcoin isn't going anywhere to fill the void. So they can try, it will only make Bitcoin stronger. Good points, Tony. It reminds me of when we discussed crowd sales and we talked about how if you don't have any regulation like on a crowd sale, you could put $5 million of your own money into the crowd sale. Suddenly it looks like the crowd sale raised $5 million. Other investors come in and put more money in because they can't tell that you're self-funding your own crowd sale. There are reasons for regulations. We like to be libertarian, a lot of people are libertarian, they hate all regulations, they want a totally free market. But remember if you go back and look at history, a totally free market means a couple of things, it means child labor and people running scams. People are going to run scams, they're going to build bad products, they're going to have horrible labor practices. This is why we have regulation, we're attempting to control that nature to have a different version of capitalism. But that's a lot of problems. I'm really agree with you on that regulation part, you can put in your money and then you just get your money back. I will disagree with you on child labor, I don't have a problem with child labor, but I think I've already I've already went down this rabbit hole when I said I don't have a problem with sweatshops. I have the same reasoning for child labor. I guess I can argue with people in the comments, but I need to go get more wood on the fire so I won't care what you guys have to say for about a minute. Alright, if you're right back, Theo Goodman, your thoughts on the Central Bankers new plan to print their own Bitcoin? Well, it's not Bitcoin, it's just their own little coin. I think I think a lot of the banks have projects like this, for example, there's Fedcoin, you know, they're experimenting with that. Basically the banks or the central banks, they want to remain relevant, they want to they're they see Bitcoin and they think, hey, that's cool. We want to do that too. We could do that. Hey, they're doing what we're doing, but wait a minute, they're not they're leaving us out. So they just want to, you know, stay relevant in the game. I think that it's definitely true what what tone says, but I think that what will happen is also that they'll realize that people will find a way like Bitcoin or another way, whatever other way to to use to trade for cash. That's not on the government blockchain. So I don't know, I just think that probably some marketer or some consultant got in there, you know, got them in their sales funnel and they're just got put all these crazy ideas in their heads that they need it. That's basically it. Gabriel D. Vine. Okay, wow, a lot of a lot of interesting points being made on all the by by the three of you. First of all, I'd like to just emphasize something. Thea just said, which is this is a completely misleading title. So so so misleading that it's literally the opposite. I mean, we were talking earlier in the Ethereum article about values and this is, you know, the central bankers have the opposite values to Bitcoin. So they certainly won't be printing bitcoins. And just the idea of print bitcoins is you have to work your fucking ass off to get a tiny fraction of a Bitcoin ain't nobody printing bitcoins. Regarding the regulation argument, of course, not everyone agrees with tones and tonuses of opinions and viewpoints about regulation. Many people in fact believe that child labor was, you know, it was regulations keeping child labor in place. And that it was the capital capitalism itself, free trade rising scooping up the poor that allowed human beings to keep kids, you know, perfectly capable men, for example, not men, but boys of 12 to 17, not even in workshops, not even doing, you know, apprenticeships. So this is something that, you know, a specialization and market capitalism has allowed certain countries to do many other countries are too poor to afford to do that. So just the thought that regulation is what's keeping scams from succeeding. I think Bernie made off is a pretty good example of the type of scams that are allowed under very selective regulatory capture type paradigms like we have in our corny capitalist system. So I'm not a fan of regulation. I don't think it's effective. I think it's simply a vehicle for the powerful to maintain their power structure. Regarding the article, I thought other than the title that it was very well written and it made some really cogent points about viewpoints on money production and, you know, the relationship between interest rates and money supply control. Among central banks and banks and the portraying the tension between central banks and banks, that was a really good article actually. And I really like the idea of central banks having to compete directly with Bitcoin because they're going to have to do it by coercion while Bitcoin does it with value and, you know, actually offering a service and a value to the company. So, I think, it's one of the things that I look at in the coming years, I'm going to talk about a lot of the things that are not available to the user and being completely permissionless and open and in comparison to the central bank currencies, which will only succeed in some measure against Bitcoin in a coercive paradigm of legal tender where all debts must be settled with their altcoin. really looking forward to how much frustration and resentment, a coercive monetary paradigm that type will create in the marketplace, and it'll be fun to see how people react to an inflationary, abusive currency that is constantly losing value, but you have to accept compared to Bitcoin. I think what we might see is a sort of high inflationary central bank altcoin. Some good points gave, although I won't agree. I will go ahead and restate that I think the difference between the real original slavery system and the system of wage slavery that was designed to replace it is that under a wage slavery system, you don't have any ownership interest in your slave. So if your slave gets its arm cut off and it's a 12-year-old girl, you just fire it and get a new 12-year-old girl like a replaceable part. And I think that the regulations help adjust that system to a more humane system. I think that's a larger issue. Let's move on to the exit question. I'm telling you got more. I agree with you on regulation. If you're going to have 12-year-olds working there, you'll get their arms torn. If you're going to have 12-year-olds working there, you should have good working conditions so that she doesn't lose her arm. However, I don't want to stop 12-year-olds from working if a, their responsible parents allow them to work and b, they want to work. I mean, yes, they also need to study and learn. They don't have to go to school or a traditional school. So there's plenty of time for a 12-year-old to work and learn. And I know that from experience because I was working since I was 10 years old. It wasn't in this country because in this country would have been illegal. So like I said, I don't have a problem with child labor. I have a problem with coercive labor. I have a problem with forced labor. And I have a problem with, you know, bad working conditions or owning your people. Right? People should be free to work or not work as they choose. And I don't think the age matters all that much unless we're talking, you know, six-year-olds. At least we do the line somewhere. Moving on to the exit question, which countries Bitcoin would you prefer to use? Or which countries Bitcoin, Clown will be more successful? Switzerland, the United States or the UK? The Old Goodman. Out of those three, I'm going to go with Switzerland. Gabriel, D. Vaughan. I also choose Switzerland because the smaller the organization, the less opportunity for fraud in the smaller the frauds. Tony Vays. Out of those three, I will also go with Switzerland. But if I had to choose a country anywhere in the world, I would probably go with Antarctica. I like the idea of just paying once, controlling the currency. I think this is a good exit question because it highlights that maybe there is room for government coin. It would just have to be the right kind of government. If Switzerland stepped up and said, hey, we're going to make an anonymous crypto coin. You can never take it away from you. It's an immutable ledger. It's going to be distributed. I'm not saying it's going to replace Bitcoin. Bitcoin is still going to be very popular in the underground world. But if you could spend it openly everywhere in Switzerland, it would be a valuable and useful coin and perhaps something worth speculating in. Hey, can you give us an example of the right kind of government at any time in the last 2000 years? I think that the Switzerland government has a more protective quality towards banking and ownership with the exception of their recent decisions to change their mind on the Nazi faults, etc., etc. But previously that general idea, that culture is a more supportive culture. Whereas I'd say the UK is more likely to seize your funds. Can I comment on that as well? I agree with you, Thomas. I really like Switzerland's system. My problem with Switzerland's system is that they are still subordinate to the US system. That's my problem. I love the Switzerland system in isolation. My problem with Switzerland is that if the United States calls them and says jump, they will say how high. That is my only problem with Switzerland. But I like their government, I like their system other than them just doing whatever the United States wants. Yeah, but they have tunnels, they have tunnels and really good bunkers. So I'm not so worried about Switzerland. They got some really good mountains and everything. So they're cool. And if things do continue to decentralize and break apart if some of these large trade agreements do actually break apart, there could be an increased value in neutrality and separatism and Switzerland with their mountains and their history of being independent. It could be a good candidate for this. But this is just my condition. Moving on to issue four, steam chasing ether in market cap. Steam, the little social network that could, the printed three of their own currencies, that's right, three of their own currencies, and has many capital controls stopping you from withdrawing your currency, controlling how you spend your currency. Bitcoin, Ponzi operator was sentenced to 18 months in prison back in 2016, so it can happen. Remember that a Ponzi scheme is where you invest at the, you have the Schema at the top and the Schema finds more investors. They find more investors. They find more investors. And the money trickles back up. The people at the top make the most money. The people at the bottom pay the most money. And remember this can also be illustrated as a pyramid scheme, where the people at the top have all of the control and all of the money. And that the people of the bottom only dream of one day making it to the top. Theo Goodman, your thoughts on steam and Ponzi schemes? I think that anyone on steam, if you have $10,000 on your steam account value or something like that, then I think it's pretty unlikely that you're ever going to get that value out. I mean, I may be wrong, but I think it's pretty unlikely. So I wouldn't get to you for it just yet. But you know, it seems to be that there are people that have withdrawn, withdrawn value from steam so far. But yeah, overall, I'm pretty skeptical on steam. I don't see. It's just another altcoin with a cool little Reddit thing. And I think that it's easily gameed. So you know, it can just buy some, make another account. I don't even need to change my IP address if I make another account. And then I just buy some steam and then I convert that into one of the other, like you said, was it three or four? I get mixed up myself and I convert the steam into steam power. I'm probably getting this all wrong, but people will correct me. But as far as I get it, and then I can use that power to then upvote my other accounts post. And then in that, then that post would then earn more steam. And then I could just so you can imagine where to go with this. So, you know, who owns a lot of the steam? And are they using the steam? And do we know if the people that control the most steam, what they're doing with it? Or, you know, or like are the founders using their steam to upvote? I don't know. Maybe we can check that. I don't know if you can check that. It's just so many questions. I think that it's ongoing discussion about how to pay content creators and how to do that in a way without intrusive advertising. That's what people claim they want. People claim they want to have content without ads or at least without collecting information. You know, I'm not even 100% sure people really want that because that means that you have to pay. And I'm still not convinced people are willing to do that. I agree, Theo. Definitely want to say we all support the idea of rewarding content creators. And I think that's what the steam creators had in mind. I'm not sure if they're intending to make a lot of money along the way that could be. But to the people who are in the steam community, because I've taken a look at a lot of these posts, and right now they're not letting you create new user accounts. So it is kind of a beautiful, glorious age where the steamers are going around kind of voting up each other's posts and celebrating this small community that they found in and how joyous it is that they're able to get $5,000 for a blog post or $2,000 for a picture of weed and two sentences. This isn't sustainable. It's very unlikely these people are going to get their funds out. I made about $200 in steam or whatever it is. I tried to get it out. I was told I could take it out in seven days. Someone else told me it would take over two years to get all of my $200 out. And as the article said, two years in crypto time is like 20 years. There's no way to believe that my $200 will still be worth $200. Then maybe it's worth more. Maybe it's worth drastically less. I think that once again, we've printed a token. We've made it tradable. I'm not sure why we've done that other than to make everyone rich, which is great for all the early adopters. So far. But we'll see how that goes. Gabriel, Devon, your thoughts on steam. Well, steam, steam, steam. I took a look at the white paper. I'm not a security researcher. I'm not even a hardcore software developer. I have some programming skills, but I'm certainly not qualified to make it. Massive, you know, it was conclusive judgment on the viability of the system, on a rundown and possible exploits or anything like that. So take it with a big everything I say with a big grain of salt. But I think I do have a pretty good idea of intentions behind human beings. And the sort of approaches that they take to technical explanations and such. So I took a look at the white paper, which was released in March. And I will say that it screams total bullshit. We've got a white paper. Now the big one white paper, I believe, is nine pages plus the abstract, which is a large paragraph. I'm pretty sure that's the length of it, maybe 11. And you'll notice that when you read the white paper, only the abstract has an explanation of why anything's happening on a philosophical level. The rest of the white paper is 100% technical. It describes the inner workings of, you know, how he planned to build Bitcoin. He's probably in the middle. He, he or the group or whatever was in the middle of programming it probably and just wanted to get it down on paper and release it and then four months later boom. Or whatever it was three months. Steam on the other hand, the white paper is absolutely jam packed with the densest, least, or not valid, least clear and concise, blabbing about philosophy going on why they did this and why they did that. But there's pages and pages of this stuff without any data on how the system works until you get several pages in and then there's little drips and drafts. There's absolutely no reason to obscure the technical workings of your system like that in a white paper unless you have something to hide. So of course there is some chance in hell that the steam organizers are not running the scam. But it's so incredibly low that I would definitely say try to, you know, get any value you have out on it on the, on the, in the near term because it's obviously so full of hot air. And you just look at the prices. I mean like you said, you know, these articles, you know, worth thousands of quote unquote dollars. And they've also got a peg which is a huge red flag. They won't let, they've got a, you know, a price floor on steam dollars. I wonder there are three cryptos that they make. It's obviously needlessly complex. There's really no data on how the forum works. The forum is not open source. So you're talking about a closed source system for all you know, I mean we've got a couple of researchers I know that actually have posted on steam. Hey, I'm looking into this and they got lots of tips because people want to know and not everyone can tell. And especially when it's not open source, you don't even have access to know how this forum works. The fact that it is so secretive and so obscured like this screens scam to me. I can't say with 100% certainty. I will only say it with 99% certainty. I think that it's probably running on a dig PHP clone. Oh, I wouldn't be surprised if this whole thing is just, you know, well, yeah, they they took, they forked an open source forum. There's no reason not to do that. But to have this type of a white paper that is this wide ranging and sprawling where pages and pages are talking about rent. It's like a giant blog post. You don't do that if you want to have a real functioning system. You know, the lightning white paper, the Bitcoin white paper, even Ethereum white papers don't read like this. They have an abstract of one to three paragraphs describing why they've done it. The rest of it is total bull crap. I am calling bullshit. This guy was involved in bit shares. I'm calling bullshit on steam. It's another alt coin that's going to crash and burn. I love the idea of somehow having a system where we have, a holistic system of monetizing content where it's not so captured by advertisers and centralized powers. And I think that that has a big future in the coming decades. I don't think steam has anything to do with that future. And I think this is a good time to mention again that we do have a system that can reward artists. If you want to give it a try at pro tip dot is pro tip is an open source Bitcoin wallet that sits in your chrome browser. It scans web pages for Bitcoin address as a creator. All you have to do is put your Bitcoin address on your soundcloud, YouTube, blogger, wherever you put your work out. Put your Bitcoin address on there in text pro tip will pick it up. It'll time how long you spend on the website. And at the end of the week, based upon your allowance, it could be a dollar week, it could be five dollars a week. It'll split that amongst the sites that you enjoy. It's an open source. You can expand on it, make your own version. Pro tip dot is. We don't have very much marketing. So I have to talk about whenever I can. Tone vase. Hold on a second. I want to maximize my alcohol intake before I talk about steam. I'm halfway done with the bottle, by the way. My goal is to finish it during the episode. All right. So here we go. Last week, I was somewhat critical of steam after only researching it. I'll be generous 20 minutes. Maybe, maybe. That was very critical. And I got a lot of hate mail. I mean, I got like more hate mail. My hate mail in comments. Then from my Dow rants in the past. And the biggest of those rants was go read the white paper. So I started. I made it to page nine. I really tried to read the whole thing. I still plan to read the whole thing because I'm going to rip that white paper to shreds. With comments. I made it to page nine. And if it was the Bitcoin white paper, I would have finished it. But because it was steam, I was only one fourth, one fifth of the way in. Now, I even though I'm out in God knows where in Pennsylvania, I managed to bring the following shirt with me. And who can recognize this logo that I'm wearing? I have a shirt just like that. I have the whole kid. Right. So the the one in form are listeners. What that symbol and what that shirt is. So funny because they had so many logos. That's the hash based logo, which was a company that would like sell you pay cool. Right. Right. So so they have hash based was the parent company who owned gold miners that were supposedly mining something. And then they had pay base, which was the platform that created and traded and I guess controlled our cryptocurrency called Bitcoin. And that system and that model was more straightforward and more legit than what steam is. So Gabriel, you are 99% sure that it's a complete nonsense slash scam slash Ponzi. I am over 100% sure that it's all those things. Again, I don't know where to start. I have already compared it to pay coin because they are white paper within the first nine pages was very similar to pay coins white paper. And once I move on past the first nine pages, hopefully this weekend, I will make sure it sounds identical to a roar coin, which also had the best of intentions and was more useful and straightforward than this thing is. Okay, well, where else we go? Once I opened the white paper, I saw that I randomly saw not even like I just happened to like flip around it and then I ended up on the abstract again and all of a sudden I see Daniel Larimer as the first name in the author of this paper. And I send out a tweet asking him if he is done with his other failed blockchain formerly or still known as bit shares. Here is one more little fact to listeners about Daniel Larimer. It's fascinating to me how some of these people have been around the Bitcoin space since 2010 and Daniel Larimer has actually been around the Bitcoin space since 2010 because I also tweeted out a conversation that he had with Toshi on Bitcoin talk and here's the kicker. Everyone always likes to make fun of people by quoting Satoshi with the following quote and I'll try and quote from memory. If you still don't understand it or don't get it, I really don't have time to explain it to you. That was a statement by Satoshi. People have no idea who Satoshi said that statement to. Satoshi said that statement to Daniel Larimer who still to this day does not understand what a blockchain is. He did not get any smarter at all. So anyone looking at steam just needs to see the first word of a white paper which says Daniel Larimer. You should know that it's a completely other disaster and I want to say it's a scam but I don't think he is brighter up to the East scamming people because I don't think he made any money on good shares. Anyway, let's get back to the steam. If anyone thinks that you can run a currency or a stable economy based on blog posts, you have a serious problem. Steam is not revolutionizing the way content is being put on the web. What steam is doing is that it didn't sell their scam coin. What they did was they pre-mine it. The way they pre-mined it was you post something on steam. You think you earned a thousand of one of the four steamed tokens. But they only give you access to two out of those thousand and then you earn another one for every ten seconds of your life or however their math works. It's not even a math file. We just make it up as they go. They pre-mine all this stuff. The moment you post something and then you think you have all this money. And then when you have this market cap that the coin telegraph article, I can't believe some of these writers. The market cap of steam is not third or fourth or second because when you make a million coins but only ten thousand of them are actively traded. But the rest are just sitting there only accessed by the founders. Your entire market cap is based on the last trade. So it's like a pre-mine without them calling their pre-mine. It's like the Dow having a VC fund without calling it a VC fund. It's no different. So that is of course ridiculous. I mean these things really really bother me. I don't understand how people think they're going to be rich on this stuff. It's like a complete punsy. I don't even know what it is. It's a whole new scam. I had twenty thousand on my steam account. My steam account is worth twenty five thousand. Let me tell you how bad this punsy scheme is. A good punsy scheme lasts a long time. Someone said Bernie made off earlier. I don't think regulations allowed him to do it. I think he was just an amazing regulatory arbitrage guy like Bitcoin does regulatory arbitrage. My point was that the regulations didn't stop the biggest punsy in history. No, no, no, no, no, no, of course not. But that's because they were dealing with the biggest, I don't know, I'm more alcohol. That's because the regulations were up against the biggest regulatory arbitrage wizard on Wall Street who used to be in charge of the Nasdaq Stock Exchange. He knew everything. He probably had dirt on JP Morgan Chase in order for them to clear what he was doing. I was actually part of a company that was supposed to audit his fund. I think we have time to get it. I'm already ranting. But remind me later, I can talk about what we were supposed to get Bernie made off's position at my company at Bear Stearns to analyze that. I can tell you a whole story about how we did not get those positions because well they didn't exist. But how we ran into a problem getting those positions. Obviously, not anyway, I'm getting off topic. So a good punsy scheme lasts for as long as possible. Bernie made off did it to rich people for 10 to 15 years. Triple lamb. That was the guys like fifth attempt. And even that lasted a year. I mean, doesn't even know how to run a punsy scheme because it's going to implode within months. I was trying to rush to get it onto my chart of a mount stupid. Maybe I'll share my screen again in order to try to get it in there like the down before the whole thing collapses. Anyway, it's a disaster. Anyone that thinks this is solid and I am really disappointed in some of the people that told me to go to read that white paper. I really disappointed some people. Anyway, I think I've gone on long enough. Go ahead guys. I think this moves well to the exit question. Exit question. Right now steam is a closed community because of the hack or because of the extreme popularity and the response. They're not allowing new user accounts. This may temporarily have the effect of keeping the price per post eye as well as keeping people who aren't really sold on the idea of keeping all of your money in the steam system for two years while you wait to get your $200 out. Will this influx of new users what will it do to the steam network the old goodman. It will make steam a place of the best content creation that we've ever seen on the web because people are finally getting paid with this should be getting paid for the content that they have created. We're going to see a revolution in content that you've never seen before. Finally, some new Shakespeare plays. It's been too long. Gabriel, do you want? I didn't quite understand your question there. You were saying what what the new are you predicting a new and open up to the market right now steam is closed right when they open it will it be more popular less popular. What will happen? I think that we're going to see the bubble pop on the markets the speculators will be exiting so it's just the steam will have already exited the container and it will just kind of slump there with room temperature air inside. Tom Vase. I'm also having a problem understanding the question but I will just take this two minutes and ransom more and what I will say is if you think that you weren't getting paid enough from coin telegraph or from coin desk or from crypto coins news and you're not going to go post over there. What do you think it's going to pay you more? You're insane. I'm sorry you're you're just insane. Ask for what it's going to do the community. I don't think it's going to do anything. I think this thing is imminent to to completely implode. Look, steam is not going to revolutionize the way content is placed on the internet in three months. The world doesn't work that way and neither does value that is I mean you're going to have a whole economy based on Reddit users. What is securing those coins? I keep asking people what is securing those coins? What is the mining structure? What is curing your steam? And they're like, well, 15 year old writers. Apparently it's security through security. It's your security through proof of vagueness. Okay, we've got a breaking update from our nice viewers here in the live chat, but I'm not able to totally confirm it. But apparently steam.com slash steam at steam at blog, which I believe is the official steam at blog. Not steam at power blog has a title steam it reopens new user registration. So we are right on the cusp of the new generation of internet content. As you have never seen before, ladies and gentlemen, get ready. Get your pandering engines ready. Go go go go create that again. Make sure you're not saying the same password as your Bitcoin password, because they're probably going to take your Bitcoin keys too. Moving on to our bonus issue issue five coin base helps the FBI shut down kick ass torrents coin base. Everyone's favorite Bitcoin website joined Apple and other websites to shut down kick ass torrents. Who apparently didn't have kick ass op security. The kick ass torrents leader was using a Apple dot me account. They gave up a whole emails from him after he used an iTunes transaction. He had funds in coin base. The funds were directly from cat. He had I think maybe $87,000, $75 something like that. So it was pretty simple to get his IP address and then crack him down. And shut down kick ass torrents. We also have another bonus article it just separated from the browser. The coin base implosion timer. Now let's all take this one with a grain of salt. This is just an independent blogger sharing his ideas, but his basic ideas are that coin base doesn't make money coin base raise more venture capital. They still don't make money. They raise more venture capital. They still don't make money. And now they're on the hook for all that venture capital. Perhaps this is why coin base has recently added ethereum to attempt to steal some trading fees away from polinix and the other alt coin exchanges. How many alt coins will coin base add until they become profitable. And what about the FBI and kick ass torrents Gabriel D. Vaughan. I think that this gentleman, Valene is not very savvy considering how good he is at marketing his very popular torrent tracker site to have, you know, not used tour, got used Facebook and used coin base with his normal IP. And a little surprise that they fathered to take so long to go after him. Because it's been four years, but he really had it coming that was pretty silly that he was ruffling the feathers of the paymasters, you know, in the government who are, you know, cow towing to the whims of, you know, intellectual property jerk offs like the, you know, record industry association of America and Hollywood studios. And you know, Sony massive entertainment giants, these, you know, multi billion dollar companies want to protect their, you know, schemes very silly, just really, really stupid. And I think it's just a typical step along the progress, just like before Bitcoin, we had, you know, eagled and all the other schemes and before bit torrent as a protocol, we had, you know, other file sharing more centralized paradigms. And so basically, you know, by doing these sort of short term things where they spent, who knows how much track actually is probably pretty quick track him down grab his 75 grand. You know, however much money he's making on it on the ads, that's just going to push the development time into decentralized trackers. So I'm sure decentralized tracking protocols are coming along the way and that will complete the picture for file sharing where, you know, these tracker sites will be totally unnecessary anymore. So yeah, I think it's just another step along to complete decentralization and complete disintermediation of these intellectual property regimes. I also think it's unfortunate and it clouds the good name of Bitcoin. Perhaps he thought Bitcoin was anonymous just because he was using Coinbase. I'm not sure. I think everyone should be dissuaded from that point. Coinbase is a, you know, good company. It's good place to buy Bitcoin, but it is not anonymous. They are tracking you and a lot of people find that questionable. And it is important if he had a more independent Bitcoin wallet, something blockchain, I vote air bits, bread wallet, my sillium, any of these wallets. Perhaps he wouldn't have been tracked on the Bitcoin side. The Facebook, the rest of the mistakes definitely still going to be tracked. So it was surprisingly easy, I suppose, for the government to track him down tone vase. All right. Oh, this is great. I think the alcohol is kicking in three, four, so the way through the bottle. And of course, we're talking about my favorite topic, which is Coinbase. I'm not sure what the comment on first. So the blogger that has the clock. I don't know if you recall. This is another tone vase. I told you so. I talked about Coinbase having all of these problems that you just described from that blog post on one of our episodes here, like maybe a month ago. I have been critical of Coinbase from probably the day they launched their service. I think they are absolutely disgraceful. I have never, I've always been critical of the CEO, Brian Armstrong. I mean, I even have articles back in the day in coin telegraph, just like constantly telling people not to use Coinbase. I don't know how many people I've told not to use Coinbase. When people ask me to just, you know, oh, and I tell people, hey, let me, let me cover my lunch with Bitcoin and you pay. And then I see them opening the Coinbase app. I say, you know what? On second thought, let me give you some dollars. I don't even want to send Bitcoin to a friend that has a Coinbase wallet. That is how much I am and high Coinbase. I am against what they absolutely stand for. Also, I'm very disappointed in a lot of these people. I am not surprised that it took five, what, seven years for him to get arrested. How long it took. I mean, I have the same, I have the same crisis of Astubrik, who is the nicest guy in the world. Why are you programming the website from a Starbucks to re-blocks away from the state department that's trying to arrest you? Well, I mean, at least go to another state, at least go to another country. Same with this guy, I believe he's Ukrainian, but he was in Poland. And just stay out of the use, stay out of a NATO country. Go to China, go to Russia. Doesn't anybody learn from Snowden? There's a reason why Snowden is in Russia, because the US can show up there and arrest him. Just a quick comment on kick ass torrents. I actually have been too busy to torrent anything in years, but I am against, like I said, I'm against intellectual property, I'm against patents. And I'm against copyright. I don't like copyrighted movies, I don't like copyrighted songs. I don't think they should exist. This is a much longer discussion. We're talking about crypto, so back to cryptos. Look, this is what Coinbase does. It tracks you. It's really unfortunate. Bitcoin is a very secure, somewhat anonymous payment. Bitcoin is as anonymous as you make it. You will never make it fully anonymous, but you don't have to make it fully anonymous. The fact that it's permissionless is way more important, permissionless and immutable. I have to stick immutable everywhere now, thanks to Ethereum. Immutable is not my most important property of any blockchain. In order for you to be immutable, you have to be permissionless. They go hand in hand. I was always a big fan of fungibility, fungibility, no immutability and permissionless. And they go together. You can't have one without the other. Fungibility, that is second. And just don't put your address there. Don't put your name there. Cheese. If you're the architect of kick-ass torrents, just stay out of a natal nation. Go find a place in Vietnam. I was just in the Socialist Republic of Vietnam. You know what I didn't see? Military and police in the Socialist Republic of Vietnam. Go there. You can buy good internet there. No one will know you exist. No one would care. Coinbase is just disgraceful. They should have taken a more privacy conscious stance. But I understand they're trying to make money and they're not making money and they're not going to make money. So I agree with the blog post. Coinbase will collapse in the very near future. Leo, good. I think I'm going to start first with the FBI whole thing. So let's give basically it's not that what was the title Coinbase helps FBI. I think it's probably more like FBI says you have to help us. And that's it. So it's not really, you know, it's, that's just how it is. I don't think that they want to do this. But you know, it just happened to be the situation. And I don't think they really had a big choice. And they had even less of a choice because of the other blog article, you know, accepting all that or raising all that VC money doesn't put them in a position to challenge the FBI exactly. Even if you didn't raise it, you're not really in the position to challenge the FBI and much less so if you've raised that money as we've talked about on the World Crypto Network, it's early as 2014 on Christmas for coffee or the Bitcoin talk show about Coinbase and their VST shamanigans. But nonetheless, actually, you know, Coinbase, a lot of people like to trash on them and whatever, but you know, they have their place, they have their use and their uses do not include running a torrent site and that being your wallet. That's just it. So, you know, it's not that hard to download a wallet like everyone said so far and, you know, store your Bitcoin yourself. There are plenty of ways. Hell, he could have even used BTC. He would have been way better than Coinbase, right? I mean, come on. There's so many other ways. It's just a shame that he decided to use Coinbase at all places. But, you know, that's the whole thing. Bitcoin is, I would say that Bitcoin is advertised as being anonymous. However, right or right or wrong as it is, if you're just an average Joe on the street and you hear about Bitcoin and you look around a little, it's kind of advertised as being anonymous. So, people think it's anonymous and they sign up for Coinbase and they figure out really quick that it's not anonymous. So, that's the hard lesson. You can go on different parts of Reddit or different parts of the internet and daily read about people's Coinbase account. So, that's just how it is. You've violated their terms of service and that's fine. So, just don't use Coinbase for that. If you want to just buy a whole bunch of Bitcoin for an investment or something and you want to declare it on your taxes and all that, well, then Coinbase is probably a really good place for you to go. But, just not for some of the other uses. So, it brings up a good point that Coinbase has been known to freeze users accounts if they send Bitcoin to known gambling sites or other sites that Coinbase doesn't like. They publicly said they're not a wallet. They don't want this kind of transactions. And, I'll bet if they had the choice, they would say, hey, kick ass Torrance creator, don't bank a Coinbase. I'm sure they didn't necessarily want this. But, let's move on to the exit question. Exit question, where would you buy your Bitcoin? Coinbase, local Bitcoins or Glidera? Toned Vays, are you with us? Don't think so. Let's start with Theo then. Theo, where would you buy? My first choice. Toned back. Go ahead, Ton. Bye. I think the FBI is charming him right now after we talked about the FBI. So, I don't know what it was. That's how I bought Bitcoins to begin with. Toned Vays, how would you buy Bitcoin? Local Bitcoins, of course. That's the way to do it. Check out local Bitcoins. Of course, it's pretty good. You could meet someone in person at a Starbucks, bring some cash, trade them for some Bitcoins. Pretty good. Yeah. Gabe, what about you? I'm really interested in BitSquare, I believe it's called. That's the decentralized exchange. So, they use different payment methods that are able to hook up and are not easily reversible. So, next time I want to make it a little investment, I think I might square out with that. Toned Vays, we're back with us. Now, I think we've run out of forest time for Toned. So, we're going to go ahead and move on to predictions or story of the week. Theo Goodman, you're ready with a prediction or a story of the week. I am ready, ladies and gentlemen. I believe it's a company called Valve, which I was before this week, admittedly unfamiliar with. And they have something to do with Counter Strike and the whole eSports stuff that's going on. And basically, they threatened over 10 Counter Strike gambling sites that they're going to shut them down. So, hey, Counter Strike freaks, welcome to Bitcoin. You can bet on Counter Strike and all that stuff. So, Valve, go ahead and shut them down. That's great. That's great for Bitcoin and that's a mystery of the week. The more you tighten your grip, the more star systems will slip through your fingers. Gabriel, divine. Nice emperor, I'm a big Palpatine fan, actually. I think he really knew what he was doing. If you want to run a scam, study Senator Palpatine, that guy's career. It's very solid. It didn't end that great, but other than that. I am going to do two stories of the week. One of them is very short, so I won't take too long. But my big story of the week is somebody that's very close to me that I've been telling about Bitcoin for four years. And they just basically ignored me and were like, you're still talking about that. Isn't that done? Wasn't that over in 2013? Wasn't there just a big bubble and it's gotten in like, no, you don't understand. This is a revolution in the making. That was just the first hype phase or second hype phase. Well, this person plays poker and they were dealing with delays in two and three, four, five weeks to get their fiat out of the poker website. And I told them about, you know, they were looking on the side and said, oh, it's a big point option. I helped them set up a crack in account. And now they're getting their money in, I believe, 45 minutes. So Bitcoin real world use cases are out there as tone likes to say gambling is one of the main ones. My other story of the week is we spent so much time on this show over the last couple of weeks this summer talking about, you know, scams talking about hacks and the Dow and Ethereum altcoins, steam, bullshit. My other story of the week is Bitcoin is flat. That means that it's gaining a million dollars a day in market cap. And the developers are hard at work. The bips are getting committed. And Bitcoin has not had a fork. Bitcoin has not had a missing a block. Everything's working according to plan. That's my story of the week. Bitcoin keeps going, keeps working, keeps being good. Bitcoin endures tone waves. Are you back with a prediction or a story of my back? What was the exit question? I think I wanted to comment on it. The exit question was coin base. How would you buy your bitcoins? Where would you buy some Bitcoin today? I originally bought all my bitcoins through local Bitcoin. I no longer do that because it's annoying. But at the time when you need bitcoins, it's great. Also at the time there was a lot less scams on local bitcoins and a lot less chance of you getting mugged or shot by using local bitcoins. I mean, not start rumors though. But right now I just try to work on my bitcoins. The best way to get your bitcoins is to go and work for them. You do something valuable and someone is willing to pay you for it in Bitcoin. You have to do something valuable because most people don't like to separate themselves from their bitcoins. You want to buy Bitcoin, go to some local meetups, meet some people because there are way too many people in Bitcoin that have way too much of their money in Bitcoin. They forgot that they have to pay bills in US dollars. They will be asking other people to buy their bitcoins from them and you can get a really good price. That's my recommendation on how to get it. I was smart enough from day one. Never ever to use my name or my address or my real identity to buy any bitcoins. So good luck tracking where my bitcoins are because I've never connected my real life identity to it. I was going to turn this section into the tone I told you so section and I had like two issues that I was going to talk about. I told you so on. I have already forgotten what those were because once again I did not come prepared for this section. So I will make a prediction and that prediction is Bitcoin. I'm sorry not Bitcoin classic. Whoa what are I saying? Ethereum classic will be something and something useful and perhaps one day more useful than Ethereum itself. At least that's what I hope will happen and that is my prediction for the very long future. I can show you guys how I'm living this week. This is what happens and you are not an early steam adopter. So you did not become a multi millionaire by posting a picture of weed on a blog site. So you end up living in the woods during the summer when you are tired of New York City. So this is kind of how I'm living the moment and I will probably back in New York City for next week's show. Come spend with me on first dial. I just want to encourage everyone to join their local meet up groups. Spend the time, go to the meetings, organize one if there is not one near you and just try to use Bitcoin in the real world. And also tonight I'm going to the day might be giant concert in Berkeley. It should be great. So I'm going to go check that out. Now here's a couple more shots of tone and the campground and I think we're going to end this show. Well we're out of time. Until next time. Bye bye.